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TULIPOMANIA The Story of the Worl !s Most "o#ete Flo$er By Mi%e &'sh
Lon( before 'nyone e#er he'r of )u'l*o++, "M-I, "is*o Syste+s, or the other hi(h. te*h sto*%s th't h'#e so're urin( the *urrent bull +'r%et, there $'s Se+per Au(ustus/
Both +ore pros'i* 'n +ore subli+e th'n 'ny sto*% or bon , it $'s ' tulip of e0tr'or in'ry be'uty, its +i ni(ht.blue pet'ls toppe by ' b'n of pure $hite 'n '**ente $ith *ri+son fl'res/ To eni1ens of 23th *entury 4oll'n , little $'s 's esir'ble/
Aroun 2567, the A+ster '+ +'n $ho o$ne the only o1en spe*i+ens $'s offere 8,999 (uil ers for one bulb/ While there!s no '**ur'te $'y to ren er th't in to 'y!s (reenb'*%s, the su+ $'s rou(hly e:u'l to the 'nnu'l in*o+e of ' $e'lthy +er*h'nt/ ;A fe$ ye'rs l'ter, Re+br'n t re*ei#e 'bout h'lf th't '+ount for p'intin( The Ni(ht W't*h/< =et the bulb!s o$ner, $hose n'+e is no$ lost to history, ni0e the offer/
Who $'s *r'1ier, the tulip lo#er $ho refuse to sell for ' s+'ll fortune or the one $ho $'s $illin( to splur(e> Th't!s ' :uestion th't sprin(s to +in 'fter re' in( Tulipo+'ni'? The Story of the Worl !s Most "o#ete Flo$er 'n the E0tr'or in'ry P'ssions It Arouse by British @ourn'list Mi%e &'sh/ In re*ent ye'rs, 's in#estors h'#e intention'lly for(otten e#erythin( they le'rne in In#estin( 292 in or er to lo' up on unpro#e , unprofit'ble ot.*o+ issues, tulip +'ni' h's been in#o%e fre:uently/ In this *on*ise,
'rtfully $ritten '**ount, &'sh tells the re'l history behin the bu11$or 'n in oin( so, offers ' *'ution'ry t'le for our ti+es/
The &ut*h $ere not the first to (o ('(' o#er the tulip/ Lon( before the first tulip bloo+e in Europe..in B'#'ri', it turns out, in 2AAB..the flo$er h' en*h'nte the Persi'ns 'n be$it*he the rulers of the Otto+'n E+pire/ It $'s in 4oll'n , ho$e#er, th't the p'ssion for tulips foun its +ost fertile (roun , for re'sons th't h' little to o $ith horti*ulture/
4oll'n in the e'rly 23th *entury $'s e+b'r%in( on its -ol en A(e/ Resour*es th't h' @ust ' fe$ ye'rs e'rlier (one to$'r fi(htin( for in epen en*e fro+ Sp'in no$ flo$e into *o++er*e/ A+ster '+ +er*h'nts $ere 't the *enter of the lu*r'ti#e E'st In ies tr' e, $here ' sin(le #oy'(e *oul yiel profits of 799C/ They ispl'ye their su**ess by ere*tin( (r'n est'tes surroun e by flo$er ('r ens/ The &ut*h popul'tion see+e torn by t$o *ontr' i*tory i+pulses? ' horror of li#in( beyon one!s +e'ns 'n the lo#e of ' lon( shot/
Enter the tulip/ !!It is i+possible to *o+prehen the tulip +'ni' $ithout un erst'n in( @ust ho$ ifferent tulips $ere fro+ e#ery other flo$er %no$n to horti*ulturists in the 23th *entury,!! s'ys &'sh/ !!The *olors they e0hibite $ere +ore intense 'n +ore *on*entr'te th'n those of or in'ry pl'nts/!! &espite the outl'n ish pri*es *o++'n e by r're bulbs, or in'ry tulips $ere sol by the poun / Aroun 2589, ho$e#er, ' ne$ type of tulip f'n*ier 'ppe're , lure by t'les of f't profits/ These !!florists,!! or profession'l tulip tr' ers, sou(ht out flo$er lo#ers 'n spe*ul'tors 'li%e/ But if the supply of tulip buyers
(re$ :ui*%ly, the supply of bulbs i not/ The tulip $'s ' *onspir'tor in the supply s:uee1e? It t'%es se#en ye'rs to (ro$ one fro+ see / An $hile bulbs *'n pro u*e t$o or three *lones, or !!offsets,!! 'nnu'lly, the +other bulb only l'sts ' fe$ ye'rs/
Bulb pri*es rose ste' ily throu(hout the 2589s, 's e#er +ore spe*ul'tors $e (e into the +'r%et/ We'#ers 'n f'r+ers +ort('(e $h'te#er they *oul to r'ise *'sh to be(in tr' in(/ In 2588, ' f'r+house in 4oorn *h'n(e h'n s for three r're bulbs/ By 2585 'ny tulip..e#en bulbs re*ently *onsi ere ('rb'(e..*oul be sol off, often for hun re s of (uil ers/ A futures +'r%et for bulbs e0iste , 'n tulip tr' ers *oul be foun *on u*tin( their business in hun re s of &ut*h t'#erns/ Tulip +'ni' re'*he its pe'% urin( the $inter of 2585.83, $hen so+e bulbs $ere *h'n(in( h'n s ten ti+es in ' 'y/ The 1enith *'+e e'rly th't $inter, 't 'n 'u*tion to benefit se#en orph'ns $hose only 'sset $'s 39 fine tulips left by their f'ther/ One, ' r're Dioletten A +ir'el #'n En%hui1en bulb th't $'s 'bout to split in t$o, sol for A,699 (uil ers, the 'll.ti+e re*or / All tol , the flo$ers brou(ht in ne'rly A8,999 (uil ers/
Soon 'fter, the tulip +'r%et *r'she utterly, spe*t'*ul'rly/ It be('n in 4''rle+, 't ' routine bulb 'u*tion $hen, for the first ti+e, the (re'ter fool refuse to sho$ up 'n p'y/ Within 'ys, the p'ni* h' spre' '*ross the *ountry/ &espite the efforts of tr' ers to prop up e+'n , the +'r%et for tulips e#'por'te / Flo$ers th't h' *o++'n e A,999 (uil ers ' fe$ $ee%s before no$ fet*he one.hun re th th't '+ount/
Tulipo+'ni' is not $ithout fl'$s/ &'sh $ells too lon( on the tulip!s +i(r'tion fro+
Asi' to 4oll'n / But he oes ' ser#i*e $ith this illu+in'tin(, '**essible '**ount of in*re ible fin'n*i'l folly/
Tulip +'ni' iffere in one *ru*i'l 'spe*t fro+ the ot.*o+ *r'1e th't (rips our 'ttention to 'y? E#en 't its hei(ht, the A+ster '+ Sto*% E0*h'n(e, $ell.est'blishe in 2589, $oul n!t tou*h tulips/ !!The spe*ul'tion in tulip bulbs 'l$'ys e0iste 't the +'r(ins of &ut*h e*ono+i* life,!! &'sh $rites/ After the +'r%et *r'she , ' *o+pro+ise $'s bro%ere th't let +ost tr' ers settle their ebts for ' fr'*tion of their li'bility/ The o#er'll f'llout on the &ut*h e*ono+y $'s ne(li(ible/ Will $e s'y the s'+e $hen W'll Street!s *urrent obsession fin'lly runs its *ourse>