At the same time Wolsey was attempting to negotiate for a supply of gold from Antwerp to replenish the currency. On this subject there exists a curious letter from his agent in Antwerp, dated 21st November 1526. "These two days," says Hacket, "I have been trying to agree with the principal merchants about the exchange, but none would make any bargain, as you (Wolsey) have limited me to 4s. 6d. for the _ducat_, and as a ducat of such gold as they would be bound to pay would be worth 4s. 10d. in the Mint. They must receive either _ducats_, or a _crown of the sun_ and a _groat_, for every ducat, or the same in _angellets_. The best thing would be for one or two of their factors to see you (Wolsey). The gold can be kept at home for 2 or 3 more per cent., for they would be glad to give that to take it out of the realm." The new coinage of 1527 was in complete accordance with the proclamation of the preceding November. As far as the tariff or absolute exchange was concerned, it served to redress the balance, and thus to bring the English coin abreast of the continental. In the matter of the ratio, however, hardly any change was made. In the coins of the old standard (i.e. 23 carats 3-1/2 grs.) the ratio remained as before, 1:11-151/755; in those of the new standard (i.e. 22 carats) it was raised slightly (to 1:11-59/220). Neither in the appointment of the exchange, however, nor in the matter of the ratio, could the measure be more than temporarily successful under the conditions. The necessity remained as constantly as ever to watch the changing continental tariff, and to accommodate the English system to it. One State paper, dating apparently in 1529, thus pictures the situation at the time:-- "Disputes in London between English, Italian, Flemish, and Spanish merchants, as to the exchange, because of the last edict about gold. The writer knows of the importation of 100,000 _crowns_ and £10,000 in gold, which will be exported again unless care is taken. In Flanders, directly after this proclamation, gold was publicly put at a higher price than before--a noble at 24 _groats_," and so on. The writer, therefore, recommends that the searchers at the various ports should be warned to attend to their duty and see that no gold was carried away from the realm. [Sidenote: ENGLAND AND THE NETHERLANDS IN 1537]