As already explained, the "Third" was not a gift from England to the Netherlands.

It was a loan from England to France, or more properly a consent to abstain from pressing for payment for this proportion of an old debt.

James, who was always needy, had often desired, but never obtained, the payment of this sum from Henry.

Now that the King was dead, he applied to the Regent's government, and the Regent's government called upon the Netherlands, to pay the money.
Aerssens, as the agent of the Republic, protested firmly against such claim.

The money had been advanced by the King as a free gift, as his contribution to a war in which he was deeply interested, although he was nominally at peace with Spain.