It is not easy, without some reflection and care, to comprehend the full extent of the peril which England then ran from the power and the ambition of Spain, or to appreciate the importance of that crisis in the history of the world. Queen Elizabeth had found at her accession an encumbered revenue, a divided people, and an unsuccessful foreign war, in which the last remnant of our possessions in France had been lost; she had also a formidable pretender to her crown, whose interests were favored by all the Roman Catholic powers. It is true that, during the years of her reign which had passed away before the attempted invasion of 1588, she had revived the commercial prosperity, the national spirit, and the national loyalty of England. But her resources to cope with the colossal power of Philip II still seemed most scanty; and she had not a single foreign ally, except the Dutch, who were themselves struggling hard, and, as it seemed, hopelessly, to maintain their revolt against Spain.
On the other hand, Philip II was absolute master of an empire so superior to the other states of the world in extent, in resources, and especially in military and naval forces as to make the project of enlarging that empire into a universal monarchy seem a perfectly feasible scheme; and Philip had both the ambition to perform that project and the resolution to devote all his energies and all his means to its realization. Since the downfall of the Roman Empire no such preponderating power had existed in the world. During the mediæval centuries the chief European kingdoms were slowly moulding themselves out of the feudal chaos; and though the wars with each other were numerous and desperate, and several of their respective kings figured for a time as mighty conquerors, none of them in those times acquired the consistency and perfect organization which are requisite for a long-sustained career of aggrandizement. After the consolidation of the great kingdoms they for some time kept each other in mutual check.
During the first half of the sixteenth century the balancing system was successfully practised by European statesmen. But when Philip II reigned, France had become so miserably weak through her civil wars that he had nothing to dread from the rival state which had so long curbed his father, the Emperor Charles V. In Germany, Italy, and Poland he had either zealous friends and dependents or weak and divided enemies. Against the Turks he had gained great and glorious successes; and he might look round the Continent of Europe without discerning a single antagonist of whom he could stand in awe. Spain, when he acceded to the throne, was at the zenith of her power.