His previous bonds had not been duly honored, and there had even been instances of royal repudiation, which by no means lightened the task of the financier, in effecting the new loans required.

Escovedo was very blunt in his language upon this topic, and both Don John and himself urged punctuality in all future payments.

They entreated that the bills drawn in Philip's name upon Lombardy bankers, and discounted at a heavy rate of interest, by the Fuggers of Antwerp, might be duly provided for at maturity.

"I earnestly beg," said Escovedo, "that your Majesty will see to the payment of these bills, at all events;" adding, with amusing simplicity, "this will be a means of recovering your Majesty's credit, and as for my own; I don't care to lose it, small though it be." Don John was even more solicitous.

"For the love of God, Sire," he wrote, "do not be delinquent now.