A. D. 1609. 253 



Indies, and would alfo have totally o1:)ftru(n:ed their flotas from the Weft- 

 Indies, without which Spain could not f'ubfifl. The Hollanders having, 

 in a few years paft, taken and deftroyed more than thirty of their great 

 galleons; and the Dutch admiral, Heemfl<irk, having, in 1607, with 

 twenty-fix fhips of war attacked the Spanifh admiral Alvarez d'Avila, 

 though one third part ftronger, even under the fhelter of the cannon of 

 Gibraltar, deftroying thirteen Spanifh fhips and 2000 men. Spain was 

 alfo under an apprehenfion, that, by continuing the war longer, the Hol- 

 landers might through neceflity give themfelves up to France, and there- 

 by, with the lofs of (even provinces to France, lofc alfo the refl of the 

 feventeen provinces. For, as Sir William Temple obferves, the great- 

 nefs of the Spanifli monarchy, fo formidable under Charles V and Philip 

 II, began now to decline by the vaft defigns and unfortunate events of 

 fo many ambitious counfcls •. as, on the other hand, the affairs of King 

 Henry IV of France were now at the greateft height of felicity. 



On the other hand, the Dutch, notwithftanding their continued fuc~ 

 cefs, had powerful motives to conclude this truce : ift. They were great- 

 ly in debt. 2dly, The French court became weary of the annual con- 

 tributions for fupporting them in that war. 3dly, King James had well 

 nigh forfaken them, becaufe of his favourite fcheme of the Spanifli 

 match for his fon. 4thly, King Henry IV of France, whofe interefl: it 

 was to difarm Flanders, on which IMezeray owns he intended to feize, 

 made ufe of both entreaties and menaces to bring the ftates into this 

 truce. 



The greatefl difficulty, which Spain the longeft ftuck at, was the 

 Dutch trade to the Eaft-Indies ; which point had broke off a treaty two 

 years before. At length, however, the truce was concluded on the foot- 

 ing of every one keeping what they then pofTeffed. 



This year is alfo very memorable for the foundation of the moft fa- 

 mous bank of Amfterdam ; a bank, which, as well in contemplation of 

 its never violated credit, of its immenfe treafure, and its extenfive ufe- 

 fulnefs in commerce, mayjuftlybe ranked the firft in Europe. The 

 commerce of that famous city was now become lo vaft, that the mer- 

 chants found great payments in filver very inconvenient, and gold coins 

 in any quantity hazardous to keep in their pofleflion. It was therefor 

 prudently judged by the magiftrates and merchants, that if an office 

 were eftabliflicd for the receipts and payments of all fums of money of 

 600 guilders and upv/ards, (afterwards reduced to 3C0 guilders and up- 

 wards) to be duely regiftered in books kept open at ftated hours, it 

 would be a legal proof of ail fuch tranladions, udiereby many dilputes 

 and lawfuits would be prevented ; and, 2dly, If all bills of exchange, 

 as v>-ell foreign as inland, and limited in quantity as above, were to be 

 paid only in this office, it wovdd prove a great fecurity to both payers 

 and receivers, by preventing many frauds in the payments intrufted to 



2 



