Thus the silver mines, which were the Spanish King's property, had produced their effect everywhere more signally than within the obedient Provinces. The South American specie found its way to Philip's coffers, thence to the paymasters of his troops in Flanders, and thence to the commercial centres of Holland and England. Those countries, first to feel and obey the favourable expanding impulse of the age, were moving surely and steadily on before it to greatness. Prices were rising with unexampled rapidity, the precious metals were comparatively a drug, a world-wide commerce, such as had never been dreamed of, had become an every-day concern, the arts and sciences and a most generous culture in famous schools and universities, which had been founded in the midst of tumult and bloodshed, characterized the republic, and the golden age of English poetry, which was to make the Elizabethan era famous through all time, had already begun. In the Spanish Netherlands the newly-found treasure served to pay the only labourers required in a subjugated and almost deserted country, the pikemen of Spain and Italy, and the reiters of Germany. Prices could not sustain themselves in the face of depopulation. Where there was no security for property, no home-market, no foreign intercourse, industrial pursuits had become almost impossible. The small demand for labour had caused it, as it were, to disappear, altogether. All men had become beggars, brigands, or soldiers. A temporary reaction followed. There were no producers. Suddenly it was discovered that no corn had been planted, and that there was no harvest. A famine was the inevitable result. Prices then rose with most frightful rapidity. The veertel of rye, which in the previous year had been worth one florin at Brussels and Antwerp, rose in the winter of 1586-7 to twenty, twenty-two, and even twenty-four florins; and wheat advanced from one and one-third florin to thirty-two florins the veertel. Other articles were proportionally increased in market-value; but it is worthy of remark that mutton was quoted in the midst of the famine at nine stuyvers (a little more than ninepence sterling) the pound, and beef at fivepence, while a single cod- fish sold for twenty-two florins. Thus wheat was worth sixpence sterling the pound weight (reckoning the veertel of one hundred and twenty pounds at thirty florins), which was a penny more than the price of a pound of beef; while an ordinary fish was equal in value to one hundred and six pounds of beef. No better evidence could be given that the obedient Provinces were relapsing into barbarism, than that the only agricultural industry then practised was to allow what flocks and herds were remaining to graze at will over the ruined farms and gardens, and that their fishermen were excluded from the sea.