Philip and Maximilian, was not so solid a security, in the opinion of
Netherlanders, as to outweigh four cities in Holland and Zealand, with
all their population and wealth. To give collateral pledges and hostages
upon one side, while the King offered none, was to assign a superiority
to the royal word, over that of the Prince and the estates which there
was no disposition to recognize. Moreover, it was very cogently urged
that to give up the cities was to give as security for the contract,
some of the principal contracting parties.

This closed the negotiations. The provincial plenipotentiaries took
their leave by a paper dated 13th July, 1575, which recapitulated the
main incidents of the conference. They expressed their deep regret that
his Majesty should insist so firmly on the banishment of the Reformers,
for it was unjust to reserve the provinces to the sole use of a small
number of Catholics. They lamented that the proposition which had been
made, to refer the religious question to the estates, had neither been
loyally accepted, nor candidly refused. They inferred, therefore,
that the object of the royal government had, been to amuse the states,
while tine was thus gained for reducing the country into a slavery more
abject than any which had yet existed. On the other hand, the royal
commissioners as solemnly averred that the whole responsibility for the
failure of the negotiations belonged to the, estates.

It was the general opinion in the insurgent provinces that the government
had been insincere from the beginning, and had neither expected nor
desired to conclude a peace. It is probable, however, that Philip was
sincere; so far as it could be called sincerity to be willing to conclude
a peace, if the provinces would abandon the main objects of the war.
With his impoverished exchequer, and ruin threatening his whole empire,
if this mortal combat should be continued many years longer, he could