themselves capable of furnishing annually ten or twelve millions of
florins, which would be the equivalent of nearly a million sterling.

The yearly revenues of the whole monarchy of the Imperial house of
Habsburg can scarcely be stated at a higher figure than L350,000.

Thus the political game--for it was a game--was by no means a desperate
one for the Netherlands, nor the resources of the various players so
unequally distributed as at first sight it might appear.

The emancipation of the Provinces from the grasp of Spain and the
establishment by them of a commonwealth, for that epoch a very free one,
and which contained within itself the germs of a larger liberty,
religious, political, and commercial, than had yet been known, was
already one of the most considerable results of the Reformation. The
probability of its continued and independent existence was hardly
believed in by potentate or statesman outside its own borders, and had
not been very long a decided article of faith even within them. The
knotty problem of an acknowledgment of that existence, the admission of
the new-born state into the family of nations, and a temporary peace
guaranteed by two great powers, had at last been solved mainly by the
genius of Barneveld working amid many disadvantages and against great
obstructions. The truce had been made, and it now needed all the skill,
coolness, and courage of a practical and original statesman to conduct
the affairs of the Confederacy. The troubled epoch of peace was even now
heaving with warlike emotions, and was hardly less stormy than the war
which had just been suspended.

The Republic was like a raft loosely strung together, floating almost on
a level of the ocean, and often half submerged, but freighted with
inestimable treasures for itself and the world. It needed an unsleeping
eye and a powerful brain to conduct her over the quicksands and through
the whirlpools of an unmapped and intricate course.

The sovereignty of the country so far as its nature could be
satisfactorily analysed seemed to be scattered through, and inherent in
each one of, the multitudinous boards of magistracy--close corporations,
self-elected--by which every city was governed. Nothing could be more
preposterous. Practically, however, these boards were represented by
deputies in each of the seven provincial assemblies, and these again sent
councillors from among their number to the general assembly which was
that of their Hi