exchange was erected, at that time the most splendid in all Europe, and
which fulfilled its proud inscription. The town now reckoned one
hundred thousand inhabitants. The tide of human beings, which
incessantly poured into it, exceeds all belief. Between two hundred and
two hundred and fifty ships were often seen loading at one time in its
harbor; no day passed on which the boats entering inwards and outwards
did not amount to more than five hundred; on market days the number
amounted to eight or nine hundred. Daily more than two hundred
carriages drove through its gates; above two thousand loaded wagons
arrived every week from Germany, France, and Lorraine, without reckoning
the farmers' carts and corn-vans, which were seldom less than ten
thousand in number. Thirty thousand hands were employed by the English
company alone. The market dues, tolls, and excise brought millions to
the government annually. We can form some idea of the resources of the
nation from the fact that the extraordinary taxes which they were
obliged to pay to Charles V. towards his numerous wars were computed at
forty millions of gold ducats.

For this affluence the Netherlands were as much indebted to their
liberty as to the natural advantages of their country. Uncertain laws
and the despotic sway of a rapacious prince would quickly have blighted
all the blessings which propitious nature had so abundantly lavished on
them. The inviolable sanctity of the laws can alone secure to the
citizen the fruits of his industry, and inspire him with that happy
confidence which is the soul of all activity.

The genius of this people, developed by the spirit of commerce, and by
the intercourse with so many nations, shone in useful inventions; in the
lap of abundance and liberty all the noble arts were carefully
cultivated and carried to perfection. From Italy, to which Cosmo de