The Tulip Wars of 16th, 17th Century Holland
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In 1593, botanist Carolus Clusius brought
tulips from Constantinople to the
of Leiden in Holland, planting the bulbs in a small garden for purposes of
medicinal research. He was a right stingy gardener and refused to give or
sell any to the locals. Some of his neighbors, looking to make a buck (or
florin, or guilder, or whatever) on the exotic new flower from Turkey and
disappointed with Clusius's lack of capitalistic fervor, broke into his
garden, stole some bulbs, and started the Dutch tulip trade.
Soon enough, a few of the
more well-to-do Dutch had tulip bulbs in their gardens with which to impress
the ladies. Fads being what they are, the wealthy in Holland subsequently
developed a rather inexplicable taste for them and for the next seventy
years or so, tulips increased dramatically in popularity and price. Before long,
the normally judicious Dutch found themselves going into hock to populate
their boudoirs and studies with little clumps of vegetable matter (the
bulbs were quickly regarded as being far too valuable to actually plant). Vast
amounts of property changed hands to procure tulip bulbs to display in one's
home, much to the befuddlement of outsiders. A speculative bubble ensued,
and tulip bulbs, while fairly ordinary in the eyes of flower mongers today, were
For some fiscal perspective, a contemporary
writer, Munting, outlines a transaction between two merchants for one (1)
lasts of wheat
Four lasts of rye
Four fat oxen
Eight fat swine
Twelve fat sheep
Two Hogsheads of wine [commonly, a hogshead = 63 gals.]
Four tuns of beer [commonly, a tun = 252 gals.],
Two tuns of butter
One thousand lbs. of cheese
A complete bed
A suit of clothes
A silver drinking-cup
Noting that in 1636 one thousand lbs.
of cheese cost 120 florins, we will use a price notation consisting of cheese
tonnage. That makes the above Viceroy tulip worth about ten tons of
cheese (2500 florins). MacKay notes "even an inferior bulb might
command a price of 2000 florins," and that "a Semper Augustus was
thought to be very cheap at 5500 florins [23 tons]." That's a lot of
cheese. Today, the Netherlands exports 1.2 billion tulip bulbs annually (12
billion tons of cheese!). For the sake of completeness, we'll also note that the
U.S. Netherlands Flower Bulb Information Center
purports that a Semper Augustus cost the equivalent of $2,250 contemporary U.S.
dollars in 1636. That means, with their figures, you ought to be able to
purchase all of the items on the above list for $1,250 (twelve fat sheep!).
Perhaps they ought to use the cheese method.
sailor had a great partiality for onions, and seeing a bulb very like an
onion lying upon the counter of this liberal trader, and thinking it, no doubt,
very much out of place among silks and velvets, he slily seized an
opportunity and slipped it into his pocket, as a relish for his herring. He got
clear off with his prize, and proceeded to the quay to eat his breakfast. Hardly
was his back turned when the merchant missed his valuable Semper Augustus, worth
3000 florins [12.5 tons!] ... the sailor, simple soul! Had not thought of
concealment. He was found quietly sitting on a coil of ropes, chewing the
last morsel of his "onion".
He went to jail for months, of course.