History of the United Netherlands, 1590-99 — Complete

by John Lothrop Motley

Such a project hardly seems a masterpiece of ethics or political economy, but it was hailed with rapture by the needy monarch. At once there was a wild excitement amongst the jobbers and speculators in places. The creation of an indefinite number of new judgeships and magistracies, to be disposed of at auction, was a tempting opportunity even in that age of corruption. One of the most notorious traders in the judicial ermine, limping Robin de Tours by name, at once made a private visit to Madame de Rosny and offered seventy-two thousand crowns for the exclusive right to distribute these new offices. If this could be managed to his satisfaction, he promised to give her a diamond worth two thousand crowns, and another, worth six thousand, to her husband. The wife of the great minister, who did not comprehend the whole amount of the insult, presented Robin to her husband. She was enlightened, however, as to the barefaced iniquity of the offer, when she heard De Bethune's indignant. reply, and saw the jobber limp away, crest-fallen and amazed. That a financier or a magistrate should decline a bribe or interfere with the private sale of places, which were after all objects of merchandise, was to him incomprehensible. The industrious Robin, accordingly, recovering from his discomfiture, went straightway to the chancellor, and concluded the same bargain in the council chamber which had been rejected by De Bethune, with the slight difference that the distribution of the places. was assigned to the speculator for seventy-five thousand instead of seventy-two thousand crowns. It was with great difficulty that De Bethune, who went at once to the king with complaints and insinuations as to the cleanness of the chancellor's hands, was able to cancel the operation. The day was fast approaching when the universal impoverishment of the great nobles and landholders—the result of the long, hideous, senseless massacres called the wars of religion—was to open the way for the labouring classes to acquire a property in the soil. Thus that famous fowl in every pot was to make its appearance, which vulgar tradition ascribes to the bounty of a king who hated everything like popular rights, and loved nothing but his own glory and his own amusement. It was not until the days of his grandchildren and great-grandchildren that Privilege could renew those horrible outrages on the People, which were to be avenged by a dread series of wars, massacres, and crimes, compared to which even the religious conflicts of the sixteenth century grow pale.

Meantime De Bethune comforted his master with these financial plans, and assured him in the spirit of prophecy that the King of Spain, now tottering as it was thought to his grave, would soon be glad to make a favourable peace with France even if he felt obliged to restore not only Amiens but every other city or stronghold that he had ever conquered in that kingdom. Time would soon show whether this prediction were correct or delusive; but while the secret negotiations between Henry and the Pope were vigorously proceeding for that peace with Spain which the world in general and the commonwealth of the Netherlands in particular thought to be farthest from the warlike king's wishes, it was necessary to set about the siege of Amiens.

Henry assembled a force of some twelve or fifteen thousand men for that purpose, while the cardinal-archduke, upon his part, did his best to put an army in the field in order to relieve the threatened city so recently acquired by a coarse but successful artifice.

But Albert was in even a worse plight than that in which his great antagonist found himself. When he had first arrived in the provinces, his exchequer was overflowing, and he was even supposed to devote a considerable portion of the military funds to defray the expenses of his magnificent housekeeping at Brussels. But those halcyon days were over. A gigantic fraud, just perpetrated by Philip; had descended like a thunderbolt upon the provinces and upon all commercial Europe, and had utterly blasted the unfortunate viceroy. In the latter days of the preceding year the king had issued a general repudiation of his debts.

He did it solemnly, too, and with great religious unction, for it was a peculiarity of this remarkable sovereign that he was ever wont to accomplish his darkest crimes, whether murders or stratagems, as if they were acts of virtue. Perhaps he really believed them to be such, for a man, before whom so many millions of his fellow worms had been writhing for half a century in the dust, might well imagine himself a deity.

So the king, on the 20th November, 1596, had publicly revoked all the assignments, mortgages, and other deeds by which the royal domains; revenues, taxes, and other public property had been transferred or pledged for moneys already advanced to merchants, banker, and other companies or individuals, and formally took them again into his own possession, on the ground that his exertions in carrying on this long war to save Christianity from destruction had reduced him to beggary, while the money-lenders, by charging him exorbitant interest, had all grown rich at his expense.

This was perfectly simple. There was no attempt to disguise the villany of the transaction. The massacre of so many millions of Protestants, the gigantic but puerile attempts to subjugate the Dutch republic, and to annex France, England, and the German empire to his hereditary dominions, had been attended with more expense than Philip had calculated upon. The enormous wealth which a long series of marriages, inheritances, conquests, and maritime discoveries had heaped upon Spain had been exhausted by the insane ambition of the king to exterminate heresy throughout the world, and to make himself the sovereign of one undivided, universal, catholic monarchy. All the gold and silver of America had not sufficed for this purpose, and he had seen, with an ever rising indignation, those very precious metals which, in his ignorance of the laws of trade, he considered his exclusive property flowing speedily into the coffers of the merchants of Europe, especially those of the hated commonwealth of the rebellious Netherlands.

Therefore he solemnly renounced all his contracts, and took God to witness that it was to serve His Divine will. How else could he hope to continue his massacre of the Protestants?

The effect of the promulgation of this measure was instantaneous. Two millions and a half of bills of exchange sold by the Cardinal Albert came back in one day protested. The chief merchants and bankers of Europe suspended payment. Their creditors became bankrupt. At the Frankfort fair there were more failures in one day than there had ever been in all the years since Frankfort existed. In Genoa alone a million dollars of interest were confiscated. It was no better in Antwerp; but Antwerp was already ruined. There was a general howl of indignation and despair upon every exchange, in every counting-room, in every palace, in every cottage of Christendom. Such a tremendous repudiation of national debts was never heard of before. There had been debasements of the currency, petty frauds by kings upon their unfortunate peoples, but such a crime as this had never been conceived by human heart before.

The archduke was fain to pawn his jewelry, his plate, his furniture, to support the daily expenses of his household. Meantime he was to set an army in the field to relieve a city, beleaguered by the most warlike monarch in Christendom. Fortunately for him, that prince was in very similar straits, for the pressure upon the public swindlers and the auction sales of judicial ermine throughout his kingdom were not as rapidly productive as had been hoped.