We have perceyved by your lres datid the sixt of this moneth, to our principall Secretary, and sent hither by one George Middelton your kynsman, that according to your former lres of the xvj ^th^ of Octobre, yow have obteynid the loane of Eight hundred thowsand dallers, and fifty thowsand crownes, upon six in the hundred, to be delyverid at Hambourgh abowt the next Aprill. And for the suretye of repayment, yow wryte that there be required two of the thre Marityme Cites, Hambourgh, Lubeck, and Lunenbourgh. And if we will take it for some nomber of yeres, yow trust to obteyne it upon fowre or fyve at the most per cento. the money to be repayed in the same fynesse, that it shalbe taken. Yow putte us also in some hope to have a lyke bargayne at Emden, for the Some of fyve or six hundred thowsand dallers. To all these points yow shall understand our meaning to be as followith.
We doo well allow, that in th’ende of your long abode there, yow have obteynid somewhat. But yow shall understand what we lyke, and mislyke in the bargayn. We lyke well inough to have the Some to be as greate as yow wryte, both at Hambourgh and Emden. But we do not so well allow, that the Interest shulde be Six in the hundred, considering it cannot be delyverid to us at Andwerpe, or in our owne Realme; but must be fetchid from thence with our greate charges. Nether doo we lyke that our owne bands with the bands of our citie of London seeme not sufficient without the bands of some of those Marityme Cityes. Neverthelesse because we trust yow will indevour your self to the uttermost of your powre, to make the bargaine most proffitable for us: we doo sende yow an ample comission under owr hand and our Pryvy Seale, wherby we authorize yow to proceede generally. And yet for Instruction we wold yow shuld do, as followeth.
First it seemith mete, that yow procure the partyes which shalbe principalles to the contract to be made with us, or their sufficient Procurators, to delyver to yow in writing under their hands and Seales, the articles of their offres and demaunds. That is to saye, how much money they will leande, At what place and tyme to be delyverid, for how long, and what Interest for usance they will [fol. 171v] requyre the least, what assurance for repayement, In what sort to be payde, and where, with such other cirucmstances as be usually required in that behalf. Wherupon, when ye shall have obteynid the same to be made reasonable: ye shall also delyver theim articles signid by yow on our parte, answering to their demaundes. Wherin yow shall specially consider these things following.
First ye shall agree to take the Somme of Eight hundred thowsande dallers, and fifty thowsand Crownes for Six or seven yeres, if they so will. so as ye shall paye but fowre or at the most fyve in the hundred. And therto shall this condition be addid, that either partye shalbe at liberty, upon twelve monethes warninge.
Ye shall offre for suretye, our bands under our greate Seale of Englande, signid with our hande, and with the hands of all our nobilitie being of our pryvy cownsell. and also to have the bonde of our City of London, to be made in as good sorte, as alwayes hath ben usid to any other strangers.
And if yow can obteyne this conclusion: ye shall assure theim that we will sende to theim the same bonds at such tyme as the money shalbe delyverid to yow and others, whome we will sende for that pourpose.
But if yow cannot have it at fowre or fyve per cento. with condition to leave upon a twelve monethes warning. Lykewise if it cannot be had without surety of Hambourgh or Lubecke: then rather then to breake off: to promesse that yow will proove to obteyne it. And then may yow use such lres, as we sende to yow for that pourpose. By the copyes wherof sent heerwithe, yow shall see wherunto they tende. But if yow can possibly, we wold ye shuld obteyne the bargayne without their bonds for this we warne and charge yow, that if those bonds of the Steedes cannot be had without that we shall accorde to the same Steedes, to grawnte theim furder libertyes in this our Realme, then we have: than our pleasure is, ye shall not proceede therin.
And where yow wryte, that if we will take this money for certeyn yeres, they will grawnt upon fowre or fyve in the hundred: we think it is meant, that for having of the principall, we shall but yerely at th’ende of every yere, paye the Some agreed upon for the Interest, without adding the Interest to the principall, and encreassing Interest [fol. 172r] Interest upon Interest. for so we meane not to doo. for then in a few yeres the Interest wold grow from fowre or fyve, to six or seven in the hundred wherof yow must take heede.
You see hereby, wherwith we ar content; and which be the best condicions that we lyke. To thaccomplisshing wherof if ye bende your self, and obteyne the same: yow shalbe sure to be so rewarded of us, as this your service shall never repente yow.
for the bargayne of the Six hundred thousand dallers to be delyverid at Emden: we wold ye shuld so proceede, as entermedling in the one shulde not hinder the other.
And as soone as ye shall have brought this bargaine to such a conclusion as shalbe meete for us to sende our bonds and ministers to receyve it: our pleasure is that ye shall either retourne your self, or send your kinsman fully Instructed, that we may certeinly proceede. 2 ^o^ January. 1561 Cecill. Elizabeth R
