It would be no paradox to affirm, that Ireland alone could, at present, exert a greater force than all the three kingdoms were capable of at the death of Queen Elizabeth.

And we might go further, and assert, that one good county in England is able to make, at least to support, a greater effort than the whole kingdom was capable of in the reign of Henry V.; when the maintenance of a garrison in a small town like Calais, formed more than a third of the ordinary national expense.

Such are the effects of liberty, industry, and good government! The state of the English manufactures was at this time very low; and foreign wares of almost all kinds had the preference.[*] About the year 1590, there were in London four persons only rated in the subsidy books so high as four hundred pounds.[**] This computation is not indeed to be deemed an exact estimate of their wealth.

In 1567, there were found, on inquiry, to be four thousand eight hundred and fifty-one strangers of all nations in London; of whom three thousand eight hundred and thirty-eight were Flemings, and only fifty-eight Scots.[***] The persecutions in France and the Low Countries drove afterwards a greater number of foreigners into England; and the commerce, as well as manufactures of that kingdom, was very much improved by them.[****] It was then that Sir Thomas Gresham built, at his own charge, the magnificent fabric of the Exchange for the reception of the merchants: the queen visited it, and gave it the appellation of the Royal Exchange.
* D'Ewes, p.

505.
** D'Ewes, p.