The ordinary budget of the United Provinces was about equal to that of England, varying not much from four millions of florins, or four hundred thousand pounds.  But the extraordinary revenue was comparatively without limits, and there had been years, during the war, when the citizens had taxed themselves as highly as fifty per cent. on each individual income, and doubled the receipts of the exchequer.  The budget was proposed once a year, by the council of state, and voted by the States-General, who assigned the quota of each province; that of Holland being always one-half of the whole, that of Zeeland sixteen per cent., and that of the other five of course in lesser proportions.  The revenue was collected in the separate provinces, one-third of the whole being retained for provincial expenses, and the balance paid into the general treasury.  There was a public debt, the annual interest of which amounted to 200,000 florins.  During the war, money had been borrowed at as high a rate as thirty-six per cent., but at the conclusion of hostilities the States could borrow at six per cent., and the whole debt was funded on that basis.  Taxation was enormously heavy, but patriotism caused it to be borne with cheerfulness, and productive industry made it comparatively light.  Rents were charged twenty-five per cent.  A hundred per cent. was levied upon beer, wine, meat, salt, spirits.  Other articles of necessity and luxury were almost as severely taxed.  It is not easy to enumerate the tax-list, scarcely anything foreign or domestic being exempted, while the grave error was often committed of taxing the same article, in different forms, four, five, and six times.

The people virtually taxed themselves, although the superstition concerning the State, as something distinct from and superior to the people, was to linger long and work infinite mischief among those seven republics which were never destined to be welded theoretically and legally into a union.  The sacredness of corporations had succeeded, in a measure, to the divinity which hedges kings.  Nevertheless, those corporations were so numerous as to be effectively open to a far larger proportion of the population than, in those days, had ever dreamed before of participating in the Government.  The magistracies were in general unpaid and little coveted, being regarded as a burthen and a responsibility rather than an object of ambition.  The jurisconsults, called pensionaries, who assisted the municipal authorities, received, however, a modest salary, never exceeding 1500 florins a year.

These numerous bodies, provincial and municipal, elected themselves themselves by supplying their own vacancies.  The magistrates were appointed by the stadholder, on a double or triple nomination from the municipal board.  This was not impartial suffrage nor manhood suffrage.  The germ of a hateful burgher-oligarchy was in the system, but, as compared with Spain, where municipal magistracies were sold by the crown at public auction; or with France, where every office in church, law, magistrature, or court was an object of merchandise disposed of in open market, the system was purity itself, and marked a great advance in the science of government.