Note 674 — Chapter VIII · (continued 2)

Prescott, Philip II., i. 268-270, has described the straits in which Philip found himself in consequence of the deplorable state of his finances. Henry was compelled to resort to desperate schemes to procure the necessary funds. As early as February, 1554—a year before the truce of Vaucelles—he published an edict commanding all the inhabitants of Paris to send in an account of the silver plate they possessed. Finding that it amounted to 350,000 livres, he ordered his officers to take and convert it into money, which he retained, giving the owners twelve per cent. as interest on the compulsory loan. They were informed, and were doubtless gratified to learn, that the measure was not only one of urgency, but also precautionary—lest the necessity should arise for the seizure of the plate, without compensation, it may be presumed. Reg. des ordon., apud Félibien, H. de Paris, preuves, v. 287-290.