e ir a p.
LXV.
1673 .
id .January.
Exchequer
shut.
of taxing themfelves was the privilege, of whichthe Englifii were, with reafon, particularly jea-,lous. Some other refource muft be fallen on.The king had declared, that the Half of treafurerwas ready for any one, that could find an ex-pedient for fupplying the prefent neceflities.Shaftefbury dropped a hint to Clifford , whichthe latter immediately feized, and carried to theking, who granted him the promifed reward,together with a peerage. This expedient wasthe fhutting up of the Exchequer , and the re-taining of all the payments, which fhould be madeinto it.
It had been ufual for the bankers to carrytheir money to the Exchequer, and to advanceit upon fecurity of the funds , by which theywere afterwards re - imburfed , when the moneywas levied on the public. The bankers, by thistraffic, got eight, fometimes ten, per cent, forfums, which either had been configned to themwithout intereft, or which they had borrowedat fix per cent.: Profits, which they dearly paidfor by this egregious breach of public faith. Themeafure was fo fuddenly taken , that none hadwarning of the danger. A general confufionprevailed in the city, followed by the ruin ofmany. The bankers flopped payment; the mer-chants could anfwer no bills j diftruft took placeevery where, with a ftagnation of commerce, bywhich the public was univerfally affedted. Andmen, full of difmal apprehenfions, afked eachother, what muft be the fcope of thofe myfte-