Note 516 — Chapter VI

Some notion of the extent of these embarrassments may be formed from a schedule prepared by the king's own hand, in September, 1560. From this it appears that the ordinary sources of revenue were already mortgaged: and that, taking into view all available means, there was reason to fear there would be a deficiency at the end of the following year of no less than nine millions of ducats. "Where the means of meeting this are to come from," Philip bitterly remarks, "I do not know, unless it be from the clouds, for all usual resources are exhausted." This was a sad legacy, entailed on the young monarch by his father's ambition. The document is to be found in the Papiers d'Etat de Granvelle, tom. VI. pp. 156-165.