10/18 The Republic, however, as an independent State, was very much hampered by the awkward fact of the cautionary towns remaining in English hands. The occupation of Flushing and Brill, commanding the entrances to important waterways, seemed to imply that the Dutch republic was to a certain extent a vassal state under the protection of England. Oldenbarneveldt resolved therefore to take advantage of King James' notorious financial embarrassments by offering to redeem the towns by a ready-money payment. The nominal indebtedness of the United Provinces for loans advanced by Elizabeth was L600,000; the Advocate offered in settlement L100,000 in cash and L150,000 more in half-yearly payments. James accepted the offer, and the towns were handed over, the garrisons being allowed to pass into the Dutch service, June 1616. |