It appears, from the books of the Company, that, in the space of thirteen years, from 1623 to 1636, the Company had fitted out 800 ships, either for war or trade, and that the expence of building, equipping, and seamen's wages had cost forty-five millions of florins, or upwards of _four millions_ sterling: And, in the same space of time, the Company had taken from the enemy 545 vessels, valued at _sixty millions_ of florins, or nearly _five and a half millions_ sterling; besides to the value of _thirty millions_ at the least, or nearly _two millions and a quarter_ sterling, in spoils of various denominations. The greatest of their exploits was the capture of the Spanish _flota_ at the Havannah, by their admiral Peter Heyne; by which they gained seven millions of dollars in money, or L. 2,625,000 sterling; besides ships, brass cannon, and other military stores, to the value of above ten millions.[4] Such were the flourishing times of the Company. [Footnote 4: Harris does not say whether dollars or florins: If the former, equal to L. 2,250,000 sterling at 4s. 6d. the dollar; if the latter, a little above L. 900,000 sterling at 11 florins to the pound sterling; both of these the old par of exchange.--E.] The causes of their decay seem to have been principally the following. _First_, their emulation of the East India Company, which induced them to make the conquest of Brazil from Portugal, the crown of which country had been usurped by their arch enemy the king of Spain. This was achieved at a vast expence, and Count Maurice of Nassau was appointed governor-general, who conducted their affairs with great skill and prudence. _Secondly_, owing to the desire of the Company to conduct all things, and repining at the expence incurred by that prince in the government of Brazil, was another cause of their misfortunes: For the merchants, who had conducted their affairs with great wisdom and capacity, while they confined themselves to commerce and maritime war, shewed themselves only indifferent statesmen, and soon lost all that Prince Maurice had gained, and loaded the Company with so heavy a debt, as compelled them in the end to consent to its dissolution.