Elizabeth is not seen at her best in war. She did not easily resign herself to its sacrifices. It frightened her to see the money which she had painfully put together, pound by pound, during so many years, by many a small economy, draining out at the rate of £17,000 a month into the bottomless pit of military expenditure. When Leicester came back she simply stopped all remittances to the Netherlands, making sure that if she did not feed her soldiers some one else would have to do it. She saw that Parma was not pressing forward. And though rumours of the enormous preparations in Spain, which accounted for his inactivity, continued to pour in, she still hoped that her intervention in the Netherlands was bending Philip to concessions. All this time Parma was steadily carrying out his master’s plans for the invasion. His little army was to be trebled in the autumn by reinforcements principally from Italy. In the meantime he was collecting a flotilla of flat-bottomed boats. As soon as the Armada should appear they were to make the passage under its protection. It would answer no useful purpose, even if my limits permitted it, to enter into the particulars of Elizabeth’s policy towards the United Provinces during the twelve months that preceded the appearance of the Armada. Her proceedings were often tortuous, and by setting them forth in minute detail her detractors have not found it difficult to represent them as treacherous. But, living three centuries later, what have we to consider but the general scope and drift of her policy? Looking at it as a whole we shall find that, whether we approve of it or not, it was simple, consistent, and undisguised. She had no intention of abandoning the Provinces to Philip, still less of betraying them. But she did wish them to return to their allegiance, if she could procure for them proper guarantees for such liberties as they had been satisfied with before Philip’s tyranny began. If Philip had been wise he would have made those concessions. Elizabeth is not to be over-much blamed if she clung too long to the belief that he could be persuaded or compelled to do what was so much for his own interest. If she was deceived so was Burghley. Walsingham is entitled to the credit of having from first to last refused to believe that the negotiations were anything but a blind.