In the time of Charles the trade and industries of the Netherlands were in a highly prosperous state. The Burgundian provinces under the wise administrations of Margaret and Mary, and protected by the strong arm of the emperor from foreign attack, were at this period by far the richest state in Europe and the financial mainstay of the Habsburg power. Bruges, however, had now ceased to be the central market and exchange of Europe, owing to the silting up of the river Zwijn. It was no longer a port, and its place had been taken by Antwerp. At the close of the reign of Charles, Antwerp, with its magnificent harbour on the Scheldt, had become the "counting-house" of the nations, the greatest port and the wealthiest and most luxurious city in the world. Agents of the principal bankers and merchants of every country had their offices within its walls.

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