experts to discuss the matter. Still the process continued unabated, and on the 19th December 1575, Henry III. assembled the States-General. The cour des monnaies—the officials of the Mint—at once approached him with a petition. Their representation is of peculiar significance:—
"In spite of the bad police prevailing, we draw in Page 86 times of peace twice as much silver from abroad as the foreigners draw from us. If the reform we advocate were adopted we should double this net gain.... Between us and the Netherlands and Germany, where we generally trade, there is this difference, that 6 écus, at the price at which they are exposed here, only come to 5 in the said places, which has induced a sudden and enormous dearness in the merchandise which we export from there, and besides has caused us a great disorder—to wit, that the merchants have transported all our douzains and other billon money, to save themselves from the loss they would have had to incur in settling in écus or in any foreign species of gold or silver on which, at the price they are current at by the caprice of the people, there would be a loss in settlement of 15, 20, and 25 per cent.... The cause of the enhancement of prices proceeds from the malice of several who turn into bullion the best of your coins in order to fill the kingdom with