414 HOLLAND. 



cotton, and silk manufactures ; wax bleaching ; leather dressing ; the 

 great quantity of coin and specie, assisted by their banks, especially 

 by that of Amsterdam ; their East India trade ; and their general 

 industry and frugality. Their commerce, however, suffered greatly 

 during the late wars, and was totally destroyed by Bonaparte, wheu 

 he took possession of the country. 



Public trading companies. ...Of these, the principal is the East- 

 India company, incorporated in 1602, by which formerly the Dutch 

 acquired immense wealth, divided forty per cent, and sometimes sixty, 

 about the year 1660; at present the dividends are much reduced; 

 but in a hundred and twenty-four years, the proprietors, on an 

 average, one year with another, divided somewhat above twenty-four 

 per cent. So late as the year 1760, they divided fifteen per cent.; but 

 the Dutch West India company the same year divided no more than 

 two and a half per cent. This company was incorporated in 1621. 

 The bank of Amsterdam was thought to be inexhaustibly rich, and 

 was under an excellent direction ; it is said, by sir William Temple, 

 to contain the greatest treasure, either real or imaginary, that is 

 known any where in the world. What may seem a paradox is, that 

 this bank was so far from paying any interest, that the money in it 

 was worth somewhat more than the current cash is in common pay- 

 ments. Mr. Anderson supposes that the cash, bullion, and pawned 

 jewels in this bank, which were kept in the vaults of the Siadthouse, 

 amounted to thirty-six (though others say only to thirty) millions 

 sterling. 



Constitution, government, laws. ...Before the French entered 

 Holland, in January, 1795, the United Provinces formed a common 

 confederacy; yet each province had an internal government or con- 

 stitution independent of the others ; this government was called the 

 states of that province ; and the delegates from them formed the 

 states -general, in whom the sovereignty of the whole confederacy 

 was vested ; but though a province should send two or more dele- 

 gates, yet such province had no more than one voice in every resolu- 

 tion ; and before that resolution could have the force of a law, it must 

 be approved of by every province, and by every city and republic in 

 that province. This formality, in times of great danger and emer- 

 gency has been set aside. Every resolution of the states of a particu- 

 lar province must be carried unanimously. 



The council of state consisted likewise of deputies from the several 

 provinces, but its constitution was different from that of the states- 

 general ; it was composed of twelve persons, whereof Guelderland 

 sent iv/o ; Holland three ; Zealand two ; Utrecht two ; Friesland one ; 

 Overyssel one ; and Groeningen one. These deputies, however, did 

 not vote provincially, but personally. Their business was to prepare 

 estimates, and ways and means for raising the revenue, as well as 

 other matters that were to be laid before the states-general. The 

 states of the provinces were styled " Noble and Mighty Lords," but 

 those of Holland, " Noble and Most Mighty Lords ;" and the states- 

 general, " High and Mighty Lords," or, " The Lords the States- 

 general of the United Netherlands ;" or, " Their High Mightinesses." 

 Subordinate to these two bodies, was the chamber of accompts, which 

 was likewise composed of provincial deputies, who audited all public 

 accompts. The admiralty formed a separate board, and the executive 

 part of it was committed to five colleges, in the three maritime pro- 

 vinces of Holland j Zealand, and Friesland. In Holland the people 



