ories to the Baltic. When, in the thirteenth century, this trade
began to decline, the Crusades having opened a new road through the
Mediterranean for Indian merchandise, and after the Italian towns had
usurped this lucrative branch of commerce, and the great Hanseatic
League had been formed in Germany, the Netherlands became the most
important emporium between the north and south. As yet the use of
the compass was not general, and the merchantmen sailed slowly and
laboriously along the coasts. The ports on the Baltic were, during the
winter months, for the most part frozen and inaccessible. Ships,
therefore, which could not well accomplish within the year the long
voyage from the Mediterranean to the Belt, gladly availed themselves of
harbors which lay half-way between the two.

With an immense continent behind them with which navigable streams kept
up their communication, and towards the west and north open to the ocean
by commodious harbors, this country appeared to be expressly formed for
a place of resort for different nations, and for a centre of commerce.
The principal towns of the Netherlands were established marts.
Portuguese, Spaniards, Italians, French, Britons, Germans, Danes, and
Swedes thronged to them with the produce of every country in the world.
Competition insured cheapness; industry was stimulated as it found a
ready market for its productions. With the necessary exchange of money
arose the commerce in bills, which opened a new and fruitful source of
wealth. The princes of the country, acquainted at last with their true
interest, encouraged the merchant by important immunities, and neglected
not to protect their commerce by advantageous treaties with foreign
powers. When, in the fifteenth century, several provinces were united
under one rule, they discontinued their private wars, which had proved
so injurious, and their separate interests were now more intimately
connected by a common government. Their commerce and affluence
prospered in the lap of a long peace, which the formidable power of
their princes extorted from the neighboring monarchs. The Burgundian
flag was feared in every sea, the dignity of their sovereign gave
support to their undertakings, and the enterprise of a private
individual became the affair of a powerful state. Such vigorous
protection soon placed them in a position even to renounce the Hanseatic
League, and to pursue this daring enemy through every sea. The
Hanseatic merchant