HIST1055 Lecture Notes - Lecture 10: Bank Of Amsterdam, Atlantic Slave Trade
Document Summary
Explain the usefulness of two dutch financial technologies (and what they did)> Sugar production doesn"t rise naturally to meet demand - forced and political power used at all stages of production. Sugar produced with government support and relentless physical force. 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. Begin to need to import materials - textiles, etc. Filled with refugees from spanish war/rebelling dutch. See themselves of citizens of the world. Urbanized population focused on jobs other than ag. Pool money for long periods of time. Right to make treaties, have armies, own flags. Takes your coins, gives you bank credits. Trustworthy, stable, convenient form of currency for local and international business. Whole trade evolved around tulips - became expensive/risky. Tulip bubble collapsed huge money losses of merchants/trade.
