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 'Should these fellowes come out of my debt, I should have noe rule with them'. The principle is plausible enough, and is familiar to tradesmen in all poor neighbourhoods. The man burdened with debt must lose the fruits of his labour, because he is not free to revise his contracts on terms more beneficial to himself. Once the players got out of debt and accumulated a reserve fund, they would acquire their own theatre, and Henslowe's might stand empty. If the charges were justified—and as Dr. Greg points out, we have not Henslowe's answer—he certainly resorted to oppressive devices to prevent the Lady Elizabeth's men from achieving independence. It must not be too hastily assumed that he followed a similar policy in his earlier dealings with the Admiral's men. So far as we know, they brought no accusation against him, and the connexion seems to have been advantageous to both parties. The Admiral's men held together, and maintained a standing hardly inferior to that of their principal rivals, the Chamberlain's men. They had Alleyn for a fellow; and it may be that Alleyn, whose 'industrie and care', according to the deposition of a common acquaintance, 'were a great meanes of the bettering of the estate of the said Philip Henslowe', was able to give his partner advice, more equitable and perhaps in the long run not less profitable, even from the capitalist point of view, than was afterwards forthcoming from 'intemperate M^r. Meade'. At any rate there is an agreement which shows that a compromise was arrived at after Henslowe's death with Alleyn and Meade upon the question of the disputed debt. I am not Henslowe's biographer, and am therefore not concerned either to whitewash or to vilify his character. But it is fair to say that, outside the ''Articles of Grievance and Oppression'', there is not much, in the mass of papers which have descended to us, that necessarily bears an unfavourable interpretation. Henslowe's private loans to players and poets were innumerable. They were generally, but not always, repaid, and it would be difficult to prove that he even exacted interest in such cases, although it is possible that the full sums entered in his accounts did not really change hands. On the other hand, too much stress must not be laid on the expressions of esteem with which his debtors approached him. Thus Daborne dwells on 'your tried curtesy' and 'the great love I have felt from you', and Field, addresses him as 'Father Hinchlow' and signs himself 'your loving son', as if he were Ben