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first began to frequent the markets of the Netherlands, and in 1318 Venetian ships brought to Antwerp spices, drugs, and silk-stuffs. The Hanseatic League, which had now become a commercial association of considerable importance, readily entered into relations with the Italian traders, so that the markets of Flanders became the best supplied of any in the north of Europe with the products and manufactures of the Mediterranean, Arabia and India, furnishing in exchange from their factories a variety of fine cloths in assortments adapted to the wants of the Eastern people. Thus, while England was distracted and impoverished by war, foreign merchants found safety and protection, and became greatly enriched, under the government of the Count of Flanders. The Flemings were satisfied with moderate duties. Whilst clearing their coasts of pirates and of hostile corsairs to the utmost extent in their power, they in all cases respected the property of shipwrecked vessels, which had too often been considered the prize of any promiscuous wrecker, and encouraged traders from all nations to frequent or settle on the banks of the Scheldt and the Meuse, many of whom realized large profits out of England's folly or misfortunes.

During the period of the commercial splendour of the Netherlands, Bruges and Antwerp were the chief entrepôts of the north of Europe for foreign goods. The former of these, in the course of the fourteenth century, had successfully negotiated favourable commercial treaties with the German empire, as also with Spain, Portugal, England, Scotland, and Ireland, which, in the following century, were extended with