T HE Spanish conquests in Naples and Sicily, the presence of Spaniards in the Vatican and even on the Papal throne, the foundation of Spanish colleges and the formation of Spanish colonies in Italy, are sufficient reasons for the very close relations, diplomatic, military, commercial, ecclesiastical, educational, and literary, which existed between Spain and Italy about the turn of the fifteenth century. The mutual influence in literature was considerable, but the literary exchange about this time is rightly regarded as greatly in Italy's favour. The usual statement of the case, however, somewhat obscures the Spanish effort to reduce the debt. One of the chief contributions towards the maintenance of Spanish literary credit in Italy was the new romance of chivalry. It is not surprising to find that the Spanish romances reached Italy earlier than other countries, or that they were more fruitful there than elsewhere. The old French romances had prepared the ground in Italy as in Spain, and the new Spanish romances were welcomed in Italy soon after, and consequently very much in the order of, their publication.