The cost of travelling divides itself into two kinds; direct and indirect: that is, into the outlay which the traveller must reckon on and that which he has to reckon with. The first kind, the necessities, consists of fares, food, lodging, passports, tolls, etc., together with loss by exchange of money or by charges on remittances. The second kind, the possibilities, includes loss by robbery, by war, by disease, lack of legal privileges, ignorance of local custom, and such like eventualities in so far as any one was liable to suffer from them through being a stranger in a strange land. But before considering the most elementary necessaries, some working arrangement must be established about translating payments into terms of English money of the present day. In the first place, between 1542 and 1642 money fell from about nine times its present value to about five times. Dates must therefore be found within which the multiplication figure must become successively nine, eight, seven, six. Suppose the first figure be taken up to 1556, when the States General met at Brussels to deal with Philip II's debt; the second figure thence to 1589, the year when the failure of the Spanish Armada began to tell on economics; seven from 1589 to 1612, at which date the bankruptcy of the Welser firm affected all Europe; and six thenceforward. If these are reasonable fictions, it is the utmost that can be achieved; in so far as they are not, the definiteness of the system makes correction of it easier. Amounts arrived at by these reckonings are given in square brackets. Usually, however, the original amounts have first to be translated out of continental coinage into contemporary English, a process which involves a series of comparisons too long to be tabulated here, and often, even then, needing modification as a result of the context in which the particular statement occurs. This is mentioned only as indicating a fresh source of uncertainty, and possibly of error. A third factor in these amounts as here given is as reliable as the two former factors are unreliable; every original amount represents an actual transaction by a traveller between 1542 and 1642, except where otherwise stated. Necessities and possibilities are sometimes found considered jointly in general estimates. Sir Philip Sidney considered his brother should have two hundred pounds a year allowed him for travelling. This was in 1578, and he would be reckoning according to the highest standard that a young Englishman would have a use for.