had the thrift of a youth spent in poverty, and the turn for
finance inherited from Welsh ancestors, but his kingdom was not rich,
and his throne not over-secure. He was prejudiced against doing anything
rash, both by nature and by the very limited income of the crown. He had
given an audience to Bartholomew Columbus while the older brother was
still haunting the court of Castile with his unfulfilled plans, and had
gone so far as to tell the Genoese captain to bring his brother
Christopher to England that he might talk with him. Had it not been for
Queen Isabella's impulsive decision England instead of Spain might have
made the lucky throw in the great game of discovery. But by the time
Bartholomew could get the message to his brother the matter had been
settled and the expedition was already taking shape. Henry VII. always
kept one foot on the ground, and until he could see some other way to
bring wealth into the royal treasury he let the monopolies go on.

In 1495 he took a chance. He gave to John Cabot and his sons a license
to search "for islands, provinces or regions in the eastern, western or
northern seas; and, as vassals of the King, to occupy the territories
that might be found, with an exclusive right to their commerce, on
paying the King a fifth part of the profits."

It will be noted that this license did not say anything about the
southern ocean. Already troops of Spanish cavaliers were pouring into
the seaports, eager to make discoveries by the road of Columbus, and
Spain would regard as unfriendly any attempt to send English ships in
that direction. Whatever could be got from the Spanish territories
Henry would try another way of getting. The year before he had arranged
to have Prince Arthur, the heir to his throne, marry the fourth daughter
of the King of Aragon, Catherine, then a little Princess of eleven.
Prince Arthur died while still a boy, and Catherine became the first
wife of Henry, afterward Henry VIII. With a Spanish Princess as queen of
England, there might be an alliance between the two countries. That
would be better than quarreling with Spain over discoveries which were
at best uncertain. If Cabot really found anything valuable in the
northern seas the move might turn out to be a good one. It would make
England a more powerful member of the Spanish alliance, without taking
anything which Spain appeared to value.

In May, 1497, properly furnished with provisions and a few such things
as mi