Simon Eyre is in the yard beside his house. Surveying the “scoundrels” (4.1) before him, he calls on the servants and apprentices to rise and begin cleaning. Still waking up, Firk appears and chides his master for being so loud. Hodge appears, wishes that he had slept more. Margery is also displeased by the early hour. 

Lacy interrupts these comical complaints, speaking in a fragmented form of Dutch. Firk believes that the disguised Lacy must be a fellow shoemaker; Eyre is reluctant to hire another worker, but Hodge and Margery convince him to hire the “fine workman” (4.54). Lacy introduces himself as “Hans Meulter.” Firk is amused by Lacy’s comical accent. 

To celebrate the hiring of the disguised Lacy, the characters share a drink and Eyre speaks proudly about his loyal professional workers. Margery points out the time, so Eyre rushes away to start work.

A London gentleman takes a stroll through the fields near Old Ford. His name is Master Hammon and he is accompanied by Master Warner, his cousin. In hunters’ garb, they chase after an injured deer. A boy confirms to have seen the deer head into the “pale” (5.12), land owned by the Lord Mayor. Hammon and Warner press on, more eager than ever to complete the hunt.

Rose and Sybil are in the same fields where the hunters are pursuing the injured stag. In excited tones, Sybil describes the deer running into their orchard, where it was attacked and knocked down by a member of the household. The deer was killed, she claims, and the Lord Mayor will soon serve it as a meal. As the hunting horns sound, Rose explains to Sybil that the men chasing the deer will be angry. 

Hammon and Warner enter with their companions. They ask whether the two women have seen a deer; Rose claims not to have done so, while Sybil answers cryptically. Hammon begins to flirt with Rose, forgetting the pursuit of the deer now that he has found “a deer more dear” (6.30) to him. Meanwhile, Warner exchanges his own flirtatious statements with Sybil. 

The Lord Mayor enters, offering a warm greeting to the hunters. Learning that they have lost their quarry, he invites them to dine with him. Hammon, he notes to himself, seems a “proper gentleman” (6.58) and a good match for Rose—much more so than Lacy.

In his disguise, Lacy speaks to a skipper of a foreign ship, who is offering the opportunity to purchase luxury goods that have set sail from Candia. The fine fabrics, sugar, and almonds (as well as other goods) are very valuable, but a problem with the ship’s owner means that the skipper can offer the “wares” (7.17) to Eyre at a very generous price. Lacy offers to tell this to Eyre, arranging to meet at a tavern. 

Firk and Hodge overhear the meeting, with Firk mocking the idea that Eyre would know what to do with such a fortune. Hodge, however, understands how wealthy such a deal will make Simon Eyre.

Eyre enters with Margery, who chides the shoemakers for being lazy. Eyre defends his workers, calming their anger with beer and promises of future fortune. Hodge notes that the deal with the skipper could be Eyre’s chance to make something of himself. He could be “a lord at least” (7.86). Eyre entertains the idea, dressing himself in lavish clothing. He admires the outfit as Lacy and the skipper return to strike the bargain. Eyre agrees to inspect the goods for himself.

The Earl of Lincoln is at his home, asking Dodger about “the news in France” (8.1). According to Dodger, England has won a decisive battle, vanquishing 12,000 French soldiers while losing only 4,000 soldiers from their side. Dodger shocks Lincoln, however, by revealing that Lacy was not in France for the battle. Askew took the command instead; it was Askew who sent Dodger back to England with news of the victory. 

Lincoln is horrified at this betrayal. He is certain that Lacy is still in England, searching for “his fair-cheeked Rose” (8.39). He tells Dodger to find Lacy and to begin looking near the Lord Mayor’s home.