Note 1242 — Chapter VIII

‘With Philip II. ends the greatness of the kingdom, which from that period declined with fearful rapidity.’ Dunham's History of Spain, vol. v. p. 87. And Ortiz (Compendio, vol. vii., Prologo, p. 6) classes together ‘la muerte de Felipe II. y principios de nuestra decadencia.’ The same judicious historian elsewhere observes (vol. vi. p. 211), that if Philip III. had been equal to his father, Spain would have continued to flourish. Several of the more recent Spanish writers, looking at the heavy expenses caused by the policy of Philip II., and at the debts which he incurred, have supposed that the decline of the country began in the latter years of his reign. But the truth is, that no great nation ever was, or ever will be, ruined by the prodigality of its government. Such extravagance causes general discomfort, and therefore ought not to be tolerated; but if this were the place for so long an argument, I could easily show that its other and more permanent inconveniences are nothing like what they are commonly supposed to be.