1. Or, how the Dutch departed from reason during the 1630’s. Michael Coates (Michel) Elementary French – Level 2

2.  Originally Bred in the Ottoman Empire  Generally Bulbous  Over 100 species 2  Grows in almost every country in the world. 1

3.  Usually grown from bulbs  Susceptible to a Virus 1

4.  Charles de l’Écluse  Worked at the Hortus Botanicus  Planted Tulips  Bulbs were continually stolen from his garden.

5.  4.8 tons of Wheat  9.6 tons of Rye  4 “Fat” Oxen  8 “Fat” Swine  12 “Fat” Sheep  126 gallons of Wine  464 gallons of Beer  2 tons of butter  1000 pounds of cheese  “A complete bed”  A suit of clothes  A silver drinking cup 2500ƒƒ

6.  True Market Forces  The Mosaic Virus  Speculation

7.  Supply and Demand  Cultivation of Tulips  French Demand for bulbs encouraged investment

8.  Caused streaking on the flowers petals  Weakened the cultivation cycle of the flower  The Virus was unpredictable

10.  The whole system relied upon the Mythical final customer  Demand began to taper off when the price began to reach extremes

11.  In February 1637, the market completely collapsed.  The investors who bought bulbs were unable to unload them onto customers

12.  When contracts started to be annulled the government step in.  Contracts were enforced up to 3.5% of the contract’s value

14. 1 Nusteling, H. (1985) Welvaart en Werkgelegenheid in Amsterdam 1540–1860, pp. 114, 252, 254, 258. 2 "WCSP". World Checklist of Selected Plant Families. "WCSP" Mackay, Charles (1841), Memoirs of Extraordinary Popular Delusions and the Madness of Crowds, London