two armies attempted to force the lines of the Waal and the Yssel, but,
though thwarted in this aim by the wariness of the stadholder and by a
very wet season, he succeeded in taking the important fortresses of
Groll and Rheinberg. Maurice made no serious effort to relieve them, and
his inactivity caused much discontent and adverse comment. His military
reputation suffered, while that of his opponent was enhanced. But
subsequent events showed that Maurice, though perhaps erring on the side
of caution, had acted rightly. The armies which had threatened the
safety of the Provinces had been raised at the charges of a private
individual, but the financial resources, even of a Spinola, were not
capable of a prolonged effort; there was no money in the State treasury;
and the soldiery, as soon as their pay was in arrears, began once more
to be mutinous. The bolt had been shot without effect, and the year 1607
found both sides, through sheer lack of funds, unable to enter upon a
fresh campaign on land with any hope of definite success. But though the
military campaigns had been so inconclusive, it had been far different
with the fortunes of maritime warfare in these opening years of the
seventeenth century. The sea-power of the Dutch republic was already a
formidable factor which had to be reckoned with and which was destined
to be decisive.

The East-India Company was no sooner founded than active steps were
taken to make full use of the privileges granted by the Charter. A fleet
of 17 vessels was despatched in 1602 under Wybrand van Waerwyck.
Waerwyck visited Ceylon and most of the islands of the Malay
Archipelago, established a factory at Bantam with a staff of officials
for developing trade relations with the natives, and even made his way
to Siam and China. He sent back from time to time some of his vessels
richly laden, and finally returned himself with the residue of his fleet
after an absence of five years in June, 1607. Another expedition of