Very rarely in human history has an individual attained to such unlimited power under a monarchy, without actually placing the crown upon his own head.  Mayors of the palace, in the days of the do-nothing kings, wielded nothing like the imperial control which was firmly held by this great favourite.  Yet he was a man of very moderate capacity and limited acquirements, neither soldier, lawyer, nor priest.

The duke was past sixty years of age, a tall, stately, handsome man, of noble presence and urbane manner.  Born of the patrician house of Sandoval, he possessed, on the accession of Philip, an inherited income of ten or twelve thousand dollars.  He had now, including what he had bestowed on his son, a funded revenue of seven hundred thousand a year.  He had besides, in cash, jewels, and furniture, an estimated capital of six millions.  All this he had accumulated in ten years of service, as prime minister, chief equerry, and first valet of the chamber to the king.

The tenure of his authority was the ascendancy of a firm character over a very weak one.  At this moment he was doubtless the most absolute ruler in Christendom, and Philip iii. the most submissive and uncomplaining of his subjects.

The origin of his power was well known.  During the reign of Philip ii., the prince, treated with great severity by his father, was looked upon with contempt by every one about court.  He was allowed to take no part in affairs, and, having heard of the awful tragedy of his eldest half-brother, enacted ten years before his own birth, he had no inclination to confront the wrath of that terrible parent and sovereign before whom all Spain trembled.  Nothing could have been more humble, more effaced, more obscure, than his existence as prince.  The Marquis of Denia, his chamberlain, alone was kind to him, furnished him with small sums of money, and accompanied him on the shooting excursions in which his father occasionally permitted him to indulge.  But even these little attentions were looked upon with jealousy by the king; so that the marquis was sent into honourable exile from court as governor of Valencia.  It was hoped that absence would wean the prince of his affection for the kind chamberlain.  The calculation was erroneous.  No sooner were the eyes of Philip ii. closed in death than the new king made haste to send for Denia, who was at once created Duke of Lerma, declared of the privy council, and appointed master of the horse and first gentleman of the bed-chamber.  From that moment the favourite became supreme.  He was entirely without education, possessed little experience in affairs of state, and had led the life of a commonplace idler and voluptuary until past the age of fifty.  Nevertheless he had a shrewd mother-wit, tact in dealing with men, aptitude to take advantage of events.  He had directness of purpose, firmness of will, and always knew his own mind.  From the beginning of his political career unto its end, he conscientiously and without swerving pursued a single aim.  This was to rob the exchequer by every possible mode and at every instant of his life.  Never was a more masterly financier in this respect.  With a single eye to his own interests, he preserved a magnificent unity in all his actions.  The result had been to make him in ten years the richest subject in the world, as well as the most absolute ruler.