but very poorly the hungry deficiency which was perpetually growing. In April a fresh issue of base money had been contemplated,[1] but was for the moment postponed. The Fuggers were the resource instead; and being increasingly bad debtors, the Government were made to pay for fresh accommodation by buying a hundred thousand crowns' worth of rubies and diamonds.[2] It was with no good humour, therefore, that they found themselves compelled to keep their hands for the future from the mint; and they determined to dip once more, and to dip deeply into the closing fountain. The fall of the coin, as I have said, was resolved upon on the 6th of May. The intention was made known to the public, and it was to take effect in the following July. The second fall could be at no great distance; it is impossible, therefore, that the council could have been any longer under a delusion on the nature of the course which they had pursued. With the consequence of it immediately before their eyes, they issued, on the 30th of May, 80,000l. worth of silver, in a coin of which two-
- ↑ For the amendment of the currency, so Edward was led to believe. 'It was appointed,' he writes, 'to make 20,000 pound weight for necessity somewhat baser, to get gain sixteen thousand clear, by which the debt of the realm might be paid, the country defended from any sudden attempt, and the coin amended.'—Edward's Journal, April 10.
- ↑ Ibid. April 25.
lamb worth two shillings but twelve pence; for a capon worth twelve pence, sixpence; and so after that rate: so that, after that rate, there is not the poorest man that hath anything to sell but he loseth half in the price, besides tarrying for his money; which sometimes he hath, after long suit to the officers, and great costs suing for it; and many times he never hath it.'—Causes of the dearth in England: Tytler, vol. i. p. 369.
