It seemed as yet premature to venture on levying money without consent of parliament; since the power of taxing themselves was the privilege of which the English were with reason particularly jealous.

Some other resource must be fallen on.

The king had declared, that the staff of treasurer was ready for any one that could find an expedient for supplying the present necessities.

Shaftesbury dropped a hint to Clifford, which the latter immediately seized, and carried to the king, who granted him the promised reward, together with a peerage.

This expedient was the shutting up of the exchequer and the retaining of all the payments which should be made into it.
It had been usual for the bankers to carry their money to the exchequer, and to advance it upon security of the funds, by which they were afterwards reimbursed when the money was levied on the public.