His estates were deeply hypothecated, and his creditors so troublesome, that, in his own language, he was unable to attend properly to public affairs, so frequent and so threatening were the applications made upon him for payment.

Day by day he felt the necessity advancing more closely upon him of placing himself personally in the hands of his creditors and making over his estates to their mercy until the uttermost farthing should be paid.

In his two campaigns against Alva (1568 and 1572) he had spent 1,050,000 florins.

He owed the Elector Palatine 150,000 florins, the Landgrave 60,000, Count John 670,000, and other sums to other individuals.] During this wrangling, the country was exposed to the forces of Parma, to the private efforts of the Malcontents, to the unpaid soldiery of the states, to the armed and rebellious peasantry.

Little heed was paid to the admonitions of Count John, who was of a hotter temper than was the tranquil Prince.