One of Sir Giles's monopolies related to the licensing of inns and the selling of horse-provender. Strangely enough, however, that monopoly which created the chief indignation was for the preparation and sale of gold and silver lace. He 'sophisticated' it, as the parliamentary documents call it--that is, he used base metal instead of bullion. One could imagine such a monopoly existing without the people being greatly oppressed by it. But gold and silver lace was much used by the aristocracy, and it seems probable that the indignation of parliament was considerably excited by feelings of a somewhat personal character. It is well known, that the person who chiefly supported these monopolies, and had the largest share of advantage from them, was the infamous favourite, the Duke of Buckingham. Instead of standing by his accomplice, however, he no sooner saw the wrath of parliament seriously and dangerously roused, than he gave up the monopolist as a victim. King James, too, who had bullied and insulted all who complained, seeing that parliament was in a truly formidable humour, went sneaking there, and boasted of having done his best to apprehend Sir Giles. 'For I do assure you,' he said, 'in the heart of an honest man, and on the faith of a Christian king, which both ye and all the world know me to be, had these things been complained of to me before the parliament, I would have done the office of a just king, and out of parliament have punished them as severely, and peradventure more, than ye now intend to do. But now that they are discovered to me in parliament, I shall be as ready in this way as I should have been in the other. For, I confess, I am ashamed--these things proving so as they are generally reported to be--that it was not my good-fortune to be the only author of the reformation and punishment of them, by some ordinary course of justice.' Parliament, however, wisely kept the matter in its own hands, and immediately passed one of the most remarkable laws in the statute-book. This was no other than the act of 1623, establishing our system of patents for inventions. The original and main object of this act, was to take from the crown the power of granting monopolies. An exception was introduced, which is supposed to be owing to the enlightened foresight of Bacon, authorising the crown to grant for a limited period monopolies to inventors. This law did not extend to Scotland until the Union; and hence it is, that in the High Street we have at this day in existence a patent of the reign of Charles I. FOOTNOTES: [4] _Parliamentary History_, 1601. A VENETIAN ADVENTURE OF YESTERDAY.