the imposition upon
exports, by James's additions, is said to amount, in some few instances,
to twenty-five per cent This practice, so hurtful to industry, prevails
still in France, Spain, and most countries of Europe. The customs in
1604 yielded one hundred and twenty-seven thousand pounds a year: [**]
they rose to one hundred and ninety thousand towards the end of the
reign.

* The excess was formerly greater, as appears by Salisbury's
account. See chap. 2.

** Journ. 21st May, 1604.

Interest, during this reign, was at ten per cent. till 1624, when it
was reduced to eight. This high interest is an indication of the great
profits and small progress of commerce.

The extraordinary supplies granted by parliament, during this whole
reign, amounted not to more than six hundred and thirty thousand pounds;
which, divided among twenty-one years, makes thirty thousand pounds
a year. I do not include those supplies, amounting to three hundred
thousand pounds, which were given to the king by his last parliament.
These were paid in to their own commissioners; and the expenses of
the Spanish war were much more than sufficient to exhaust them. The
distressed family of the palatine was a great burden on James, during
part of his reign. The king, it is pretended, possessed not frugality
proportioned to the extreme narrowness of his revenue. Splendid
equipages, however, he did not affect, nor costly furniture, nor a
luxurious table, nor prodigal mistresses. His buildings too were not
sumptuous; though the Banqueting House must not be forgotten, as a
monument which does honor to his reign. Hunting was his chief amusement,
the cheapest pleasure in which a king can indulge himself. His expenses
were the effects of liberality, rather than of luxury.

One day, it is said, while he was standing amidst some of his courtiers,
a porter passed by, loaded with money, which he was carrying to the
treasury. The king observed that Rich, afterwards earl of Holland,
one of his handsome, agreeable favorites, whispered something to one
standing near him. Upon inquiry, he found that Rich had said, "How happy
would that money make me!" Without hesitation, James bestowed it all
upon him, though it amounted to three thousand pounds. He added, "You
think yourself very happy in obtaining so large a sum; but I am more
happy in having an opportunity of obliging a worthy man, whom I love."
The generosity of James was more the result of a