The Siege of Leyden : Condensed from Motley's "the Rise of the Dutch Republic" (Classic Reprint)

Excerpt from The Siege of Leyden: Condensed From Motley's "the Rise of the Dutch Republic"

Forty millions of ducats had been spent. Six and a half millions of arrearages were due to the army, while its current expenses were six hundred thousand a month. The military expenses alone of the Netherlands were accordingly more than seven millions of dollars yearly, and the mines of the New World produced, during the half century of Philip's reign, an average of only eleven. Against this constantly increasing deficit, there was not a stiver in the exchequer, nor the means of raising one. Confiscation had ceased to afford a permanent revenue, and the estates obstinately refused to grant a dollar. Such was the condition to which the unrelenting tyranny and the financial experiments of Alva had reduced the country.

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