An account has been previously given of the splendor which the king’s embassies displayed abroad, and we may add that Matthias was the wealthiest and most luxurious ruler in all Europe. He had enormous wealth at his disposal, composed in part of his own private fortune, and in part of the royal revenues. At that time there was generally no distinction made between the revenues of the king and those of the state. The king disposed of all the sums flowing into the royal treasury, whether derived from the state taxes or from any other sources. King Matthias was quite proficient in the art of turning to the fullest use these sources of income, and of adding fresh ones, in case of need. He introduced a more punctual and rigorous administration of the finances with most admirable results. He was himself also the possessor of a vast private fortune, inherited from his father. His domains extended for many miles, and he was the owner of mines of gold and silver, of great productiveness, in the richest mineral region of the country. None of his subjects could compare with him as to the extent of their private estates, although there were many amongst the church and lay magnates who could boast of immense wealth.
In his reign the royal revenues increased upon an unprecedented scale. The aggregate annual income of the Hungarian treasury amounted under King Ladislaus V. to only about 120,000 florins. Under Matthias it increased, on an average, tenfold. His yearly income very soon exceeded one million, and not unfrequently reached even two million florins, and this at a period when the French king, who was supposed to be the richest sovereign, was unable to make his income reach one million. It is true Matthias stood always in need of a great deal of money to carry out his vast schemes, his soldiers and wars swallowing up enormous sums; while it may be said, he was also prone to indulge in all the luxuries of life.
The time had passed when men’s whole lives were divided between war and prayer only. Until now these had been the essential characteristics of the middle ages. But all this was suddenly changed; people awoke to the consciousness of their wealth, and there were several countries in Europe offering a long list of varied enjoyments fit to tempt the most fastidious. The arts, painting, sculpture, and skilful working in precious metals, as well as the sciences, began to flourish; and people began to read books, books written by hand in elaborate manuscripts and richly ornamented with gold and silver and the most varied illuminated work. The classic authors of ancient Greece and Rome—long lost sight of—had been rediscovered, and scattered memorials of ancient art came to light, and were cherished by the finders with the fresh delight of childhood enjoying new playthings.