as far as I remember, in the year 1496 in the beginning of summer.
Beginning therefore to sail toward north-west, nor thinking to find
any other land than that of Cathay, and from thence to turn towards
India, after certain days I found that the land ran toward the north,
which was to me a great displeasure. Nevertheless, sailing along by
the coast to see if I could find any gulf that turned, I found the
land still continent to the 56th degree under our Pole. And seeing
that there the coast turned toward the east, despairing to find the
passage, I turned back again and sailed down by the coast of that land
toward the equinoctial (ever with intent to find the said passage to
India) and came to that part of this firm land which is now called
Florida; where, my victuals failing, I departed from thence and
returned into England, where I found great tumults among the people
and preparation for the war to be carried into Scotland; by reason
whereof there was no more consideration had to this voyage."[11]

The discoveries of Cabot were appreciated by Henry VII., a prince who
rarely indulged in unprovoked benefactions, for on December 13th,
1497, we find a grant of an annual pension to Cabot of £20 a year,
worth between £200 and £300 in modern money (a pension that was drawn
twice):

"We let you wit that we for certain considerations as specially
moving, have given and granted unto our well-beloved John Cabot, of
the parts of Venice, an annuity or annual rent of £20 sterling."[12]
It is material to notice that Sebastian, so considerable a figure in
the later accounts, is not mentioned in this grant. So it has been
observed that John Cabot is mentioned alone in the charter for the
second voyage; the authority is given explicitly to "our well-beloved
John Kabotto, Venetian." Apparently the second voyage was begun in