. The history of the world; a survey of a man's record . ons, carried onoutside the bourse. Men speculated on the rise and fall in the prices of real andimaginary tulip bulbs, until finally the whole mad business, tulips and all, disap-peared with a crash. Until the end of the seventeentli century the Amsterdam Bourse was used forthe purpose of contracting loans by the Dutch government, as well as by the execu-tives of the provinces and cities of the Netherlands. Naturally the promissorynotes and debenture bonds of public authorities were, in these times of war anddisturbance, subject to great
. The history of the world; a survey of a man's record . ons, carried onoutside the bourse. Men speculated on the rise and fall in the prices of real andimaginary tulip bulbs, until finally the whole mad business, tulips and all, disap-peared with a crash. Until the end of the seventeentli century the Amsterdam Bourse was used forthe purpose of contracting loans by the Dutch government, as well as by the execu-tives of the provinces and cities of the Netherlands. Naturally the promissorynotes and debenture bonds of public authorities were, in these times of war anddisturbance, subject to great fluctuations. There was no longer an internationalloan market such as had once existed in Antwerp, now that the Italian and Upper•German capitalists were bankrupts. Every State endeavoured, if possible, to makeboth ends meet with the aid of its own capitalists. But when Holland was forcedout of the world market by the national economic policies of England and Erance,the capital thus set free accepted such opportunities for investment as were offered. GOCO Q OH K O <^ -5 CO ^ f/?^r/r^n HISTORY OF THE WORLD 91 by the great industries which were just beginning to develop. In spite of all,however, capital became heaped up in the land, that not only had sufficient for allits needs, but was still grasping for more. Wealthy men showed less and less desireto take part in laborious or dangerous undertakings, and preferred simply to puttheir money out at interest. Thus it happened that after the beginning of theeighteenth century impoverished sovereigns who were unable to obtain loans athome sought out Holland as a place for borrowing money. Amsterdam becamethe scene of international money transactions, and the Amsterdam Bourse theinternational stock market, whose rates of exchange were the standard followed byall the other European stock exchanges of the eighteenth century. Once more, after a long period of comparative inaction, an element which hasbeen of like importance to the h
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Keywords: ., bookcentury1900, bookdecade1900, booksubjectworldhi, bookyear1902
