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It was some time, however, before these arguments gained much favour. But when the Venetians reacted against Cosimo’s policy by allying themselves with the King of Naples and threatening an invasion of Tuscany, Cosimo saw his opportunity to overcome the Florentines’ prejudices. Making one of his rare appearances at the Palazzo della Signoria, where Venetian ambassadors had gone to protest and issue warnings against the proposed alliance with Milan, he intervened personally in the debate to condemn their government as aggressors. He was not a gifted orator; but his words were clear, strong and effective. In August Florence’s formal alliance with Milan was signed.

Its repercussions were widespread and immediate: the Venetians urged the German Emperor to break up the new alliance; the Eastern Emperor was induced to withdraw the privileges of all Florentine merchants who were simultaneously expelled from Naples and Venice; Venetian agents were paid to intensify anti-Medicean feeling in Florence. Cosimo countered by closing down the Venetian branch of his firm and opening a new branch in Milan. At the same time, through those of his managers involved in the eastern trade, he managed to obtain concessions from the Turks in order to compensate Florentine merchants for the privileges withdrawn by the Greeks; and he made diplomatic overtures to Florence’s traditional friend, France, so as to offset the advantages which Venice and Naples might have gained by approaching the German Emperor.

The negotiations at the French court required exceptional skill, for neither Cosimo nor Sforza wanted to precipitate French intervention in Italy, which both recognized to be almost inevitable once France and England had settled their differences. Rather did they hope to ingratiate themselves in Paris by making indeterminate offers of assistance should the French King, Charles VII, decide to insist upon Angevin claims to the Kingdom of Naples. The delicate discussions were left to Cosimo’s charming and capable friend, Agnolo Acciaiuoli, who by cajolery, flattery, and that grandiloquent rhetoric so relished by connoisseurs of Renaissance diplomacy made a most favourable impression upon the conceited, ambitious and erratic King of France. In April 1452, at Montil-les-Tours, a treaty was signed: France undertook to come to the help of Florence and Milan should they be attacked; Sforza was recognized as Duke of Milan; and, in return, Charles VII was assured that there would be no interference from either Florence or Milan if he decided to move against Naples.

Provoked by this treaty – and anxious to break up the new alliance while France was still preoccupied with England – Venice and Naples both declared war on Florence and Milan; and King Alfonso’s illegitimate son, Don Ferrante, marched on Tuscany. The Florentines listened to the news of his approach with the greatest alarm; crowds of citizens rushed to Cosimo’s palace, demanding to know what was to be done to save the city from attack; one frantic merchant burst into his room, shouting ‘Rencine has fallen! Rencine has fallen!’ Cosimo, affecting never to have heard of this small town inside the Tuscan border, coolly replied, ‘Rencine? Rencine? Where is Rencine?’

He was not nearly as confident as he took pains to appear. Feeling in the city was running high against him. The alliance with Milan was proving not merely a dangerous experiment, but an excessively expensive one as well; for Florence was having to pay for Sforza’s defences as well as her own, and the oppressively burdensome taxes, so Sforza’s agent in Florence reported to Milan, were daily increasing the number of Cosimo’s enemies. Agnolo Acciaiuoli was sent hurrying back to France to enlist the help of Charles VII; but the French, with the English rampaging around Bordeaux, were for the moment reluctant to commit themselves to action on another front.

Cosimo fell ill and took to his bed; demands for peace became insistent; several of his leading supporters took the precaution of keeping away from his palace. Then, to the immense relief of the Medicean party, there came good news from France: Acciaiuoli had succeeded in persuading René of Anjou to come to the help of the alliance in exchange for reciprocal support of driving Alfonso’s Aragonese brood out of Naples. The intervention of a rough, marauding French army, which alarmed its allies even more than its enemies, followed by the Turks’ capture of Constantinople in May 1453, brought hopes of peace in Italy at last. These hopes were realized at Lodi in April 1454. And four months later, as the Turkish menace grew ever more threatening, Florence, Milan, the Pope and Venice drew together in a Most Holy League formed to guarantee the status quo within Italy and to withstand aggression from without.

Peace had come none too soon for Cosimo. ‘The citizens have raised a great clamour about the new taxes,’ the Venetian ambassador reported;

and, as never before, have uttered abusive words against Cosimo… Two hundred respected families, who lived on the revenues of their possessions are in a bad way, their properties having been sold in order to enable them to pay their taxes. When this imposition was levied, Cosimo had to announce that no one need complain because he would advance the money required and would not reclaim it until it suited everyone concerned. In order to retain popular favour, he has had to distribute many bushels of com every day amongst the poor who were crying out and grumbling because of the rise in prices.

Cosimo’s patient and far-sighted policy was, however, at last rewarded with success. Venice had been checked and was now too concerned with the Turks to pose any further threat to Tuscany; Sforza, firm ally of Florence, was universally accepted as Duke of Milan. The treaty, of which Naples, too, was a signatory, offered the first real hope of a general peace that Italy had had for more than fifty years.

Cosimo was too much of a realist, of course, to suppose that the kind of loose alliance of Italian states which had now been formed was likely to endure. But for Florence, at least, so long as Cosimo lived, there were to be no more costly, unprofitable wars.

Nor was there to be any question of Florence joining the crusade against the Turks which the Pope preached with such fervour after the fall of Constantinople. As both the acknowledged arbiter of Italian policy and the papal banker, Cosimo was one of the first recipients of the Pope’s appeal. He was asked to supply two galleys, equipped and manned, which were to be launched against the Turks in return for indulgences for the Florentines’ immortal souls. Tactfully and guardedly, he replied to the request, making the excuse which he and his descendants were to find so usefuclass="underline"

When you solemnly speak of our immortal life to come, who can be so unimaginative as not to be uplifted by your words, not to glimpse the glory of his own immortality?… But with regard to your present proposition, most blessed Father… you write to me not as a private man who is satisfied with the mediocre dignity of a citizen, but as though I were a reigning prince… You well know how limited is the power of a private citizen in a free state under popular government.

Other Italian states replied to the Pope’s appeal with similar evasions. Only the Venetians, who stood to profit in this life as well as in the next by the successful outcome of a Holy War, were more forthcoming. Undeterred, the Pope determined to sail under the banner of the Cross; but before he could put to sea he died of malaria. The Medici bank officially lamented his loss, and transferred their attentions to his successor.