Leicester was now determined to carry out one of the great objects which the Queen had in view when she sent him to the Netherlands. She desired thoroughly to ascertain the financial resources of the Provinces, and their capacity to defend themselves. It was supposed by the States, and hoped by the Earl and by a majority of the Netherland people, that she would, in case the results were satisfactory, accept, after all, the sovereignty. She certainly was not to be blamed that she wished to make this most important investigation, but it was her own fault that any new machinery had been rendered necessary. The whole control of the finances had, in the beginning of the year, been placed in the Earl's hands, and it was only by her violently depriving him of his credit and of the confidence of the country that he had not retained it. He now established a finance-chamber, under the chief control of Reingault, who promised him mountains of money, and who was to be chief treasurer. Paul Buys was appointed by Leicester to fill a subordinate position in the new council. He spurned the offer with great indignation, saying that Reingault was not fit to be his clerk, and that he was not likely himself, therefore, to accept a humble post under the administration of such an individual. This scornful refusal filled to the full the hatred of Leicester against the ex-Advocate of Holland. The mercantile interest at once took the alarm, because it was supposed that the finance-chamber, was intended to crush the merchants. Early in April an Act had been passed by the state-council, prohibiting commerce with the Spanish possessions. The embargo was intended to injure the obedient Provinces and their sovereign, but it was shown that its effect would be to blast the commerce of Holland. It forbade the exportation from the republic not only of all provisions and munitions of war, but of all goods and merchandize whatever, to Spain, Portugal, the Spanish Netherlands, or any other of Philip's territories, either in Dutch or neutral vessel. It would certainly seem, at first sight, that such an act was reasonable, although the result would really be, not to deprive the enemy of supplies, but to throw the whole Baltic trade into the hands of the Bremen, Hamburg, and "Osterling" merchants. Leicester expected to derive a considerable revenue by granting passports and licenses to such neutral traders, but the edict became so unpopular that it was never thoroughly enforced, and was before long rescinded. The odium of the measure was thrown upon the governor-general, yet he had in truth opposed it in the state-council, and was influential in procuring its repeal.