Note 6 — Chapter VIII

Amongst other devices at this period, Olivares in the King's name appropriated one-third of all the household plate and manufactured silver in private hands, and ordered each member of the Councils of the Indies and Castile to provide each month 200 ducats in silver to be exchanged (for depreciated copper) at the exchange of 25 per cent., the current rate being 38. A young Irish student at the Escoria came and said that he had discovered how to convert a mark of silver and a mark of copper into two marks of pure silver. Olivares accepted the youth's offer to demonstrate his discovery at the palace before experts, but after two attempts he ignominiously failed and was imprisoned.