My History Presentation Verse. III-The Tulip Mania

The Tulip Mania

The Tulip Mania

Table of Contents

I.                   Background Information (Netherlands, tulip, etc.)

II.                Causes

III.             Effects

IV.             Bibliography (reference)

Background Information

ü  Netherlands was a country where a lot of merchants traded

ü  Netherlands earned a lot of money from trading with other countries

ü  Tulip was introduced to the Dutch by the Ottoman Empire

ü  It is told that tulips were first found in a mountain in China

ü  A Flemish botanist named Charles de l'Écluse (Later Latinizes his name to Clusis) brought the tulip bulb to Netherlands, introducing the new plant to the Dutch

Causes

ü  In the late 16^th century and the early 17^th century, Dutch merchants and citizens earned a tremendous amount of money, and Dutch economy was flourished.

ü  As they all got rich, they then wanted to live abundantly

ü  They started to raise gardens and bought new kinds flowers to decorate them

ü  A botanist, Clusis (background info), brought a tulip bulb from Ottoman Empire and started his own collection of tulips

ü  People liked tulips, and bought a lot of them

ü  As more people bought tulips, demand was strong

Effects

ü  In 1624, a tulip was only worth 250 guilders

ü  Tulips got expensive

ü  Having a lot of tulips was a sign of wealth

ü  Tulip prices started to double, triple, and even quadruple even in a few days or a couple of weeks

ü  The most expensive house in Amsterdam could be bought with a bulb of a Viceroy or an Admirael Van der Eijck, which were one of the most expensive tulips

ü  Amsterdam of that age had the most expensive houses in the world

ü  People who saved a lot of tulip bulbs became the richest men in Netherlands

ü  People who bought many tulips at the peak lost all their money

ü  By 1635, before the peak, 40 bulbs of normal tulips were bought for 100,000 guilders

ü  A guilder worth about 16 dollars, so one tulip bulb in that purchase would be 40,000 dollars, which can buy a moderate apartment in Seoul

ü  By the February of 1637, tulip was in a state of hyperinflation

ü  Could not find any buyers

ü  Dropped 90% in less than three weeks, compared to Wall Street Stock Crash losing 90% in almost 3years

Bibliography

ü  En.wikipedia.org

ü  Tulipomania: The Story of the World's Most Coveted Flower & the Extraordinary Passions It Aroused-written by Mike Dash (2000)

ü  Businessweek.com

ü  Britannica.com

ü  Investopedia.com

ü  penelope.uchicago.edu

Thank you!