In the Dutch Republic of the 1630s, the price of tulip bulbs, imported from the Ottoman Empire and prized for their streaked colours, rose to astonishing heights as speculators traded futures contracts in taverns. In the winter of 1636 to 1637, a single bulb of the most prized variety, Semper Augustus, was reported to be worth more than a house on an Amsterdam canal. In early February 1637 the market collapsed when buyers failed to appear at an auction in Haarlem. Recent historians believe that the damage was limited, and that the story was exaggerated by moralising pamphlets. 'Tulip mania' became the byword for a speculative bubble.
Before and after
- 8 September 1636Founding of Harvard University
- 4 October 1636Battle of Wittstock
- 1637Founding of Taunton
- 1637Descartes publishes La Geometrie: algebra meets geometry
- February 1637Tulip mania peaks in Holland
- 1638Construction of Schönbrunn Palace
- from 1638 to 1651Wars of the Three Kingdoms
- 5 September 1638Birth of Louis XIV of France
- 1639Discovery of Golden Horns of Gallehus
More in Society, economy & sport
- 18 April 1521Martin Luther defies the Emperor at the Diet of Worms
- 1559Founding of University of Geneva
- from 1602 to 1799Founding of Dutch East India Company
- 1668Founding of Sveriges Riksbank
- 22 January 1724Founding of Saint Petersburg State University
- 24 September 1724Founding of Euronext Paris
The era
This moment belongs to the Early modern world (1500 CE to 1760 CE), voyages, printing and new ideas. You can also browse everything in the 17th century.