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Rh dramatically than Drake and Cavendish's voyages had done, with far greater effect. The best markets were indicated, the profits to be made there were set forth with the precision of an expert, and, above all, the truth was emphasized that to the bold and strong there were great possibilities in the regions in which the Portuguese and the Spaniards and, as regards Persia and the nearer East, the Venetians had previously exercised a practical monopoly.

Lancaster's unfortunate voyage, which followed almost immediately upon Fitch's return, rather damped the ardour of the mercantile classes for Eastern adventures, more especially as an expedition sent out to China in 1596, under the command of Captain Benjamin Wood, also ended in disaster; but the setback was only temporary.

As time went by, interest was re-kindled by evidence which came to hand, notably from the English ambassador at the Spanish Court, of the splendid field which was ready for the occupation of English merchants in the countries of the Orient. A decisive turn was given to the arguments in favour of a further effort to tap the Eastern markets when the news reached England in 1597 of the remarkable success of the voyage made to the East by a fleet of Dutch ships under the command of Cornelius Houtman. This expedition, which laid the foundation of Dutch power in the Eastern Archipelago, carried a warning for England which was not to be disregarded. On all hands it was recognized that the time had come for English merchants to secure a share of the Eastern trade if they were not to be altogether supplanted by their energetic Dutch rivals. The closing years of the sixteenth century were a period of energetic preparation and eager anticipation in London