To ameliorate the situation the old Republic maintained a policy of severe austerity during the century, especially economizing on its defense outlays (which in large part explains why its military and political role declined so much). Up to the Fourth Anglo-Dutch War this policy succeeded in bringing down the level of debt, but this war brought a large uptick in the public debt: between 1780 and 1794 the province of Holland alone issued 120 million guilders of new bonds. In 1795, its total debt stood at 455 million guilders. To this should be added the debts of the United East India Company and its sister, the WIC, and the five Dutch Admiralties for a total of about 150 million guilders. The other provinces owed 155 million guilders. The grand total in 1795, at the beginning of the Batavian Republic, came to 760 million guilders; this imposed a debt service of 25 million guilders annually. The indemnity of the Treaty of The Hague immediately added 100 million guilders to this total, and the maintenance of the French army of occupation added about 12 million annually (while the other funding requirements of the republic added another 20 million annually). In 1814 the public debt stood at 1.7 billion guilders.