Throughout the last reign, Cecil had carefully effaced himself. In matters of religion, though he had been previously associated with the Protestant leaders, he had never personally committed himself to any extreme line, and under the reaction he conformed; as did Elizabeth herself, and practically the whole of the nobility. He had walked warily, keeping always on the safe side of the law, never seeking that pre-eminence which in revolutionary times is apt to become so dangerous. He was not the man to risk his neck for a policy which he could hope to achieve by waiting, and he was quite willing to subordinate religious convictions to political expediency. On the other hand, he never betrayed confidences; he was not to be bought; and he was not to be frightened. Further, he was endowed with a penetrating perception of character, immense powers of organisation, and industry which was absolutely indefatigable. It was an immediate mark of the young queen's singular sagacity that even before her accession she had selected Cecil to lean upon, in preference to any of the great nobles, and even to Paget who had for many years been recognised as the most astute statesman in England. [Sidenote: Finance] Secure of her throne, Elizabeth was confronted by the great domestic problem of effecting a religious settlement; the diplomatic problem of terminating the French war; and what may be called the personal problem of choosing--or evading--a husband, since no one, except it may be the Queen herself, dreamed for a moment that she could long remain unwedded. To these problems must be added a fourth, less conspicuous but vital to the continuance of good government--the rehabilitation of the finances, of the national credit. A strict and lynx-eyed economy, a resolute honesty of administration, and a prompt punctuality in meeting engagements, took the place of the laxity, recklessness, and peculation which had prevailed of recent years. The presence of a new tone in the Government was immediately felt in mercantile circles, and the negotiation of necessary loans became a reasonable business transaction instead of an affair of usurious bargaining, both in England and on the continent. Finally, before Elizabeth had been two years on the throne, measures were promulgated for calling in the whole of the debased coinage which had been issued during the last fifteen years, and putting in circulation a new and honest currency. It seems to have been owing to a miscalculation, not to sharp practice, that the Government did in fact make a small profit out of this transaction. [Sidenote: Marriage proposals: Philip II.]