The poem reads like a catalogue of presents brought home to a wife, and at first it sounds generous and almost fairy-tale rich: a friar's coat, fine cloth, lace, a ship with its captain arriving from the sea. Then small cracks appear. The money is "troubled," which hints that it wasn't come by cleanly, and "a kind mouth" is an odd thing to carry home, since it's a manner rather than an object. The list slides from solid goods into things you can't actually hold.
The final line is the surprise. After all that grandeur, the purpose of the gift-giving turns out to be tiny and domestic: looking after her little dog, who is about to have puppies. The speaker calls what he saw "the loveliest that ever I saw," so he seems sincere, even proud.
The mood is playful and a little dreamlike, with a gentle comedy in the drop from ships and lace to a whelping dog. It also suggests that care, not riches, is what the speaker is really bringing home.