The parliament accordingly empowered the king to borrow on the additional excise two hundred thousand pounds at seven per cent.; a very small sum indeed; but which they deemed sufficient, with the ordinary revenue, to equip a good squadron, and thereby put the nation in security, till further resolutions should be taken.
But this concession fell far short of the king's expectations.

He therefore informed them, that, unless they granted him the sum of six hundred thousand pounds upon new funds, it would not be possible for him, without exposing the nation to manifest danger, to speak or act those things which would answer the end of their several addresses.

The house took this message into consideration: but before they came to any resolution, the king sent for them to Whitehall, where he told them, upon the word of a king, that they should not repent any trust which they would repose in him for the safety of his kingdom; that he would not for any consideration break credit with them, or employ their money to other uses than those for which they intended it; but that he would not hazard either his own safety or theirs, by taking any vigorous measures, or forming new alliances, till he were in a better condition both to defend his subjects and offend his enemies.

This speech brought affairs to a short issue.

The king required them to trust him with a large sum; he pawned his royal word for their security: they must either run the risk of losing their money, or fail of those alliances which they had projected, and at the same time declare to all the world the highest distrust of their sovereign.
But there were many reasons which determined the house of commons to put no trust in the king.