"The naval and commercial power of the republic developed rapidly. The merchant fleet of Holland alone numbered 10,000 sail, 168,000 seamen, and supported 260,000 inhabitants. She had taken possession of the greater part of the European carrying-trade, and had added thereto, since the peace, all the carriage of merchandise between America and Spain, did the same service for the French ports, and maintained an importation traffic of thirty-six million francs. The north countries, Brandenburg, Denmark, Sweden, Muscovy, Poland, access to which was opened by the Baltic to the Provinces, were for them an inexhaustible market of exchange. They fed it by the produce they sold there, and by purchase of the products of the North,--wheat, timber, copper, hemp, and furs. The total value of merchandise yearly shipped in Dutch bottoms, in all seas, exceeded a thousand million francs. The Dutch had made themselves, to use a contemporary phrase, the wagoners of all seas."[18] It was through its colonies that the republic had been able thus to develop its sea trade. It had the monopoly of all the products of the East. Produce and spices from Asia were by her brought to Europe of a yearly value of sixteen million francs. The powerful East India Company, founded in 1602, had built up in Asia an empire, with possessions taken from the Portuguese. Mistress in 1650 of the Cape of Good Hope, which guaranteed it a stopping-place for its ships, it reigned as a sovereign in Ceylon, and upon the coasts of Malabar and Coromandel. It had made Batavia its seat of government, and extended its traffic to China and Japan. Meanwhile the West India Company, of more rapid rise, but less durable, had manned eight hundred ships of war and trade. It had used them to seize the remnants of Portuguese power upon the shores of Guinea, as well as in Brazil. The United Provinces had thus become the warehouse wherein were collected the products of all nations. The colonies of the Dutch at this time were scattered throughout the eastern seas, in India, in Malacca, in Java, the Moluccas, and various parts of the vast archipelago lying to the northward of Australia. They had possessions on the west coast of Africa, and as yet the colony of New Amsterdam remained in their hands. In South America the Dutch West India Company had owned nearly three hundred leagues of coast from Bahia in Brazil northward; but much had recently escaped from their hands.