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 annual revenue." The observer, who looks to moral conduct as one of the forces of empire, must have admitted that Turk and Spaniard were distinguished in private life by intense religious conviction, by loyalty to the chief of the State, by a temperate habit of life, such as monasteries profess and the service of arms exacts, and by scrupulous fidelity to their word once given. Their vices were those of soldiers in every age, lawlessness to all but their own chiefs, a cynical licentiousness and ferocity; drawbacks no doubt to a perfect character, but not very much in excess of what was held to be permissible at the time. With all these elements of strength, the Spaniard and Turk were justly regarded as a menace to the existence of other nations. Luther spoke of the Turk as the personified wrath of God, and modern criticism declares that the Turk saved Europe by curbing the power of Spain. No one doubted the strength of the two great Empires. Yet within a century from the death of Philip II. the cabinets of Europe were discussing in what way Spain should be dismembered, as they have been discussing for two generations past on whom the inheritance of the Turk in Europe shall devolve. It can hardly have been religious bigotry that destroyed Spain, for its place in Europe was taken by France, which, under Louis XIV., was almost as intolerant of heresy as Spain had ever been. It can hardly have been the drain of colonies, for those colonies were fostering Spanish trade and contributing revenue to the exchequer; and colonies, poorer and not much more wisely administered, made England a great power. It can scarcely have been