All the treasures of the West Indies were in his possession; and the present scarcity of the precious metals in every country of Europe, rendered the influence of his riches the more forcible and extensive.

The Netherlands seemed on the point of relapsing into servitude; and small hopes were entertained of their withstanding those numerous and veteran armies, which, under the command of the most experienced generals, he employed against them.

Even France, which was wont to counterbalance the Austrian greatness, had lost all her force from intestine commotions; and as the Catholics, the ruling party, were closely connected with him, he rather expected thence an augmentation than a diminution of his power.

Upon the whole, such prepossessions were every where entertained concerning the force of the Spanish monarchy, that the king of Sweden, when he heard that Elizabeth had openly embraced the defence of the revolted Flemings, scrupled not to say, that she had now taken the diadem from her head, and had adventured it upon the doubtful chance of war.[*] * Camden, p 508.
Yet was this princess rather cautious than enterprising in her natural temper: she ever needed more to be impelled by the vigor, than restrained by the prudence, of her ministers: but when she saw an evident necessity, she braved danger with magnanimous courage; and trusting to her own consummate wisdom, and to the affections, however divided, of her people, she prepared herself to resist, and even to assault, the whole force of the Catholic monarch.
The earl of Leicester was sent over to Holland at the head of the English auxiliary forces.

He carried with him a splendid retinue; being accompanied by the young earl of Essex, his son-in-law, the lords Audley and North, Sir William Russel, Sir Thomas Shirley, Sir Arthur Basset, Sir Walter Waller, Sir Gervase Clifton, and a select troop of five hundred gentlemen.