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Lecture 10

HIST1055 Lecture Notes - Lecture 10: Bank Of Amsterdam, Atlantic Slave Trade

2 pages20 viewsFall 2016

Department
History
Course Code
HIST1055
Professor
Farber
Lecture
10

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Finance
Explain the usefulness of two Dutch financial “technologies” (and what they did)>
A London merchant upon finding out about the tulip bubble of 1637, might have shaken his
head and said said, “That’s so Amsterdam.” Why?
Sugar production doesn’t rise naturally to meet demand - forced and political power used
at all stages of production
Enslaved laborers produced through war
Sugar produced with government support and relentless physical force
Dutch Republic
Declares independence in 1581
Made up of 7 major provinces and a few smaller towns
Not urbanized around a powerful king - a federation
Each province have representative - who meet/discuss political issues
Maritime nation
Begin to need to import materials - textiles, etc.
Amsterdam
Different culture than many places
Cosmopolitan place
Filled with refugees from Spanish war/rebelling dutch
Unusual religious tolerance
See themselves of citizens of the world
Don’t have
Monarchs
High peasant population
Large army
Large land area
Have
Fleet of commercial ships
Experienced sailors and merchants
Urbanized population focused on jobs other than ag
First “modern economy”
Joint Stock Company
Permission / aide of government
East Indies (VOC) founded 1602
Trade with Asia
West Indies Company (WIC) founded 1621
Caribbean
Atlantic slave trade
Like today’s corp.
Pool money for long periods of time
Large # of investors
Publicly traded shares
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