A republic like the Florentine, whose strength depends upon commerce, should take no part in wars which do not affect her. The conquests she can make are always more expensive than the revenues she can derive from them are important, and awaken the jealousy of the neighbouring states, engaging her in fresh broils with them. At the end of a war which had been carried on for the acquisition of Lucca, the republic found herself greatly in debt, without having been able to obtain the city; and the chief source of her riches, commerce, received a terrible shock in the failure of the trading firms of Peruzzi and Bardi. These commercial houses had lent to Edward III, king of England, an immense sum of money. The king was involved in a war with France; but, although he was for the most part conqueror, and had frequently invaded the French provinces, nevertheless the luxury and the magnificence of his court, the incalculable expenses of war, which are burdensome even to conquerors, rendered him unable to satisfy his creditors; and he was obliged to fail in his contracts with these merchants for 1,365,000 florins in gold. Giving money its value in those times we shall find it equivalent to about 7,000,000 sequins [about £3,052,000 or $15,260,000]; and such a sum being lost by the city of Florence, we may easily conceive what injury was done to her commerce. She might, indeed, have been given up for ruined; these temporary mischiefs, however, are easily repaired, when the primary fountains of riches are not exhausted or diverted into another channel, and as these remained untouched in Florence they very soon filled up the momentary deficiency. But this could not have happened at a more unlucky moment than when the public, which draws its revenues from private individuals, was so much in debt. To this evil was added the dearth of provisions; and, what very frequently accompanies it, a pestilential fever whereby, if the old writers have not exaggerated, no less than fifteen thousand persons died that year within the walls of Florence. [Sidenote: [1341-1342 A.D.]]