A. D. 1644. 427 



The toll exadled by the crown of Denmark from all 'foreign fliips, 

 paffing to and from the Baltic fea through the Sound of Elfmore, was 

 in confideration of the protedion thofe ihips received from the caflle 

 of Kronenburg, for a fafeguard from pirates, who were numerous in 

 that fea in the 13th and 14th centuries, and aUb for light-houfes ereft- 

 cd by Denmark for the diredion of (liipping in dark nights. About 

 the time the Dutch fliook off the yoke of Spain, Denmark made un- 

 reafonable demands on them. But this year the Dutch aflifted the 

 Swedes in an invafion of Denmark, whereby the later lofl part of their 

 dominions to Sweden. This brought on a treaty in the following year 

 1645, whereby, after numberlefs difputes between Denmark and Sweden, 

 Denmark was obliged to give up all right to demand any toll whatever 

 on Swedifh fliips, having only their own merchandize paffing the Sound, 

 yet they were flill bound to pay toll for the merchandize of other na- 

 tions in their bottoms. 



Moreover, the ftates-general of the United provinces at the fame time 

 renewed former treaties with Denmark, and fettled the moderate toll they 

 were thenceforward to pay at paffing the Sound, being about L25 fter- 

 ling for a Ihip of 200 tons ; to which England and France alfo agreed. 

 By the third article of this treaty, it is exprefsly ftipulated, that Dutch 

 ffiips and goods paffing the Sound fhall not be fearched ; but entire cre- 

 dit fhall be given to the mariners producing their cockets. And the 

 tolls now agreed on ffiall continue the lame for forty years to come. 



1645. — ^^^^ have feen (under the year 1640) that the royal mint in 

 the tower of London had for fome years before that period been made 

 ule of as a bank or depofit for merchants to lodge their cafh in. But 

 King Charles having, in that year, made free with their money therein, 

 the mint loft its credit in that refped. After which, the merchants and 

 traders of London generally trufted their cafh with their fervants till 

 the breaking out of the civil war, when their apprentices and clerks 

 frequently left their mafters to go into the army. Thereupon, in fuch 

 unfettled times, merchants not daring to confide in their apprentices, 

 began firft, about this year, 1645, to lodge their cafh in goldfmiths 

 hands, both to receive and pay for them. Until which time, the whole 

 and proper bufmefs of London goldfmiths was to buy and fell plate, and 

 foreign coins of gold and filver, to melt and cull them, to coin fome at 

 the mint, and with the reft; to fupply the refiners, plate-makers, and 

 merchants, as they found the price to vary. This account of the mat- 

 ter we have from a fcarce and moft curious fmall pamphlet publiflied in 

 1676, entitled, the Myftery of the new-fafhioned goldfraiths or bankers 

 difcovered, in only eiglit 4to pages *. The aitthor obferves, that this 

 3iew banking bufinefs foon grew very confidcrable. It happened, fiys 



* No buukfellci'j (;r priiitci-'o names are afBxcJ to the title paje. A. 



3 H 2 



