The abbot waxed exceedingly wroth, and wished to depose the sacrist, alleging that he possessed a privilege of our lord the pope, giving him power of deposing William, his sacrist, whensoever it pleased him. Howbeit, some one went to the abbot, and excusing the sacrist, so wheedled the abbot that he permitted a security to be passed to Benedict the Jew for four hundred pounds, payable at the end of four years, namely, for one hundred pounds, which had then already accrued for interest, and also for another hundred pounds, which the same Jew had advanced to the sacrist for the use of the abbot. And the sacrist in full chapter undertook for the whole of that debt to be paid, and a deed was drawn up and sealed with the conventual seal: the abbot dissimulating, and not affixing his own seal, as if that debt was no concern of his.
But at the end of the four years, there were no means of discharging the debt; and then a fresh deed was executed for eight hundred and eighty pounds, payable at set terms, at the rate of eighty pounds a year. Moreover, the same Jew had many other securities of smaller account, and one which was for fourteen years; so this debt alone came to one thousand and two hundred pounds, besides the interest that had accrued.
Now R., the almoner of our lord the King, coming to us, signified to the abbot that such and such information had reached the King concerning such and such debts. Thereupon, after consultation had between the prior and a few others, the almoner was conducted into the chapter house, where all of us being seated, and holding our peace, the abbot said, "Look you, here is the King's almoner, our and your lord and friend, who, moved by the love of God and of St. Edmund, has intimated to us that the King has heard something wrong of us and you, and particularly that the affairs of the church, both internally and externally, are being badly managed; and therefore I desire and command that, upon your vow of obedience, ye state and explain openly how things really are." Hereupon the prior, standing up and speaking as one for all, said that the church was in good order, that the Rule was strictly and religiously observed indoors, and that matters out of doors were carefully and discreetly conducted, save some slight debt, in which ourselves, like our neighbours, were involved; but that, in fact, there was no debt which could embarrass us. The almoner, hearing this, said he was rejoiced that he had heard the testimony of the convent concerning this matter: meaning, what the prior had said.