Giulio de Medici (afterward Pope Clement VII), and
Chigi did not at once carry out his intention of inviting the Dovizios to his villa, for another project for the moment eclipsed that design and demands a temporary digression from my story; for if he was to be reckoned with as a lover, in a review of the hidden causes which brought about the catastrophe, he is still less to be neglected in his proper rôle of financier.
Pope Leo X. was to discover this as his predecessor Julius had done, and with more reason, for Leo was the greater borrower, all of his family and the adherents of the Medici descending upon him on his accession to the papacy like a flock of buzzards. Julius had left the papal coffers well filled, but Leo had not only emptied them, but he had anticipated his own revenues and those of his successor. Truly was it said after his death, that upon his family and the building of Saint Peter's he had spent the income of three pontificates. Chigi was not distressed that there was no likelihood that the Pope would ever repay what he owed, for he had not only received ample security through Dovizio at Cetinale, but there were richer spoils in view which made that transaction seem of trifling account. Agostino desired to become the sole manager of the papal finances; and he did indeed inaugurate that system of loans by which the Pope's entire revenue was not sufficient to meet the interest on his debts.
As a means of impressing Leo not only with his friendship but with his boundless wealth, he determined to entertain his Holiness with hospitality so lavish that it would put to shame the very feasts of Lucullus. Leo was in a certain way to blame for this foolish display, for Cardinal Riario was building his palace at this time, and his Holiness piqued Chigi by insinuating that the residence of Riario would rival the one which he was erecting. To this slur Chigi retorted hotly that Riario's palace would not be able to compare with his own stables.
It was no empty boast, but in order to realise it our patron immediately put a stop to the work upon the main villa and, as you, my Giulio, will well remember, set us all to the task of transforming the larger building upon the river bank (originally planned to house his stud of horses) into an immense banqueting-hall. The stalls of inlaid woods were concealed by the Medici tapestries; and by means of stucco, paint, lavish gilding, and innumerable sparkling lights, depending in crystal lustres and silver lamps, we achieved an effect of magnificence unsurpassed by the imaginary creations of oriental enchanters.