A City loan of £10,000 for fortifying Sheerness, 21 June, 1667.

On the morning of the 20th June the Dutch fleet was believed to be sailing homewards, but by midday news arrived of its appearance off Harwich, which was threatened with an immediate attack.[1375] The next[pg 437] day (21 June) the mayor and aldermen obeyed a summons to attend upon the king in council, when, a proposal having been made to fortify Sheerness and other places on the river, they agreed to raise the sum of £10,000 for the purpose.[1376] That the government should be driven to borrow so small a sum excited the contempt of Pepys, who thought it "a very poor thing that we should be induced to borrow by such mean sums." That the City could afford no more is not surprising when we consider what had been the state of trade during the last three years. As it was the money was paid by small instalments. The coffers of the city merchant or goldsmith keeping "running cashes" were well nigh empty, and the credit of some of the best men was shaken.[1377]

The companies of Masons and Bricklayers to furnish workmen.

There was another difficulty besides the want of money. There was a deficiency of workmen to carry out the works at Sheerness. Application was accordingly made to the wardens of the several companies of masons and bricklayers to furnish able men so that the fortifications might be completed before the cold weather came on.[1378]

The Treaty of Breda signed, 31 July, 1667.

At last negotiations for a peace were concluded and the Treaty of Breda was signed (31 July). The peace was proclaimed at Temple Bar in the presence of the lord mayor on St. Bartholomew's Day (24 Aug.).

The bells were set ringing in honour of the event, but there were no bonfires at night "partly"—writes Pepys—"from the dearness of firing, but principally from the little content most people have in the peace." Yet the terms of the treaty were not wholly ruinous to the country. England, at least, gained New York, hitherto known as New Amsterdam.

Report on state of the City's Chamber, 23 Nov., 1668.

The lull in the storm afforded the municipal authorities an opportunity of taking stock of their own Chamber. To this end a committee was appointed on the 12th February, 1668. For nine months that committee was employed examining the state of the City's finances, and then had not finished their task. Nevertheless, on the 23rd November they made a report to the Common Council of the result of their labours so far as they had gone.[1379] The state of the Chamber, they said, was so low that it would require the utmost care and industry to restore it and save it from utter decay and ruin, "for what by misemployment of the treasure in the late troubles and other ill managements," as well as by extraordinary expenses occasioned by the Plague and Fire, the City's debt had still increased notwithstanding its income having been largely augmented by fines of aldermen and chamber and bridge-house leases, which within the last fifteen years had exceeded £200,000. It was clear that when these extraordinary accessories to the City's income ceased—and they had already begun to decline—the City's debt would increase and would indeed become desperate unless some remedy were found. The committee, therefore, made certain[pg 439] suggestions with the view of cutting down expenses. The City Chronologer,[1380] in the first place, could be dispensed with altogether. The salary of the City Waits, which had lately been increased, should be reduced to its former amount. Some saving might be made in allowance of stationery in the various offices, in expenses attending Courts of Conservancy, in allowance of boots to City labourers and artificers. The personal expenses of the City's Remembrancer for diet, coach hire, boat hire, etc., should be no longer allowed; and the Chamber should not be called upon to make any disbursement for military purposes beyond the sum of £4,666 13s. 4d., for which the City was yearly liable by Act of Parliament. Lastly, neither the court of Aldermen nor the court of Common Council ought to have power to draw upon the Chamber for a sum exceeding £500, except it were in connection with the re-building of the Guildhall and other specified objects. These and other recommendations of the committee, being carefully considered by the court, were for the most part accepted with certain amendments.

Alderman Backwell.