The constant deficits led Philip to order the arrest of the Lombard merchants, who had earlier made him extensive loans on the pledge of repayment from future taxation. The Lombards' assets were seized by government agents and the crown extracted 250,000 LT by forcing the Lombards to purchase French nationality. Despite this draconian measure, the deficits continued to stack up in 1293. By 1295, Philip had replaced the Templars with the Florentine Franzesi bankers as his main source of finance. The Italians could raise huge loans far beyond the capacities of the Templars, and Philip came to rely on them more and more. The royal treasure was transferred from the Paris Temple to the Louvre around this time.