Have you ever heard of the ‘Tulip Craze?’
Tulips, which had been introduced from Turkey to Holland in 1593, had become very vogue by the early 1600’s. In due course they were attacked by a plant virus; but rather than killing them, it caused flame-like colors on the petals increasing the rarity of the highly prized flower. Rare varieties began to reach astronomical values. Soon people began paying the value of a house for a few tulip bulbs. Hello? Anybody home? Oh, I guess not, you have no home, Hans; you bought some tulip bulbs instead. I bet Brigitta thinks you’re quite the catch!
Money and tulips became one and the same. “Bjorn,we haff no guilders! Little Bjorn is languishing and needs to see the doctor!” “Oh ya, Hilde, --You think the doctor would take a Flaming Fiona Red?”
Money and tulips became one and the same. “Bjorn,we haff no guilders! Little Bjorn is languishing and needs to see the doctor!” “Oh ya, Hilde, --You think the doctor would take a Flaming Fiona Red?”
The bulbs eventually became a commodity on the Dutch stock exchanges so everyone could get in on the fun. At the height of the craze buyers could get a single bulb in exchange for large estates or entire life savings. Presumably they were hoping to make loads of money by planting the bulb and having lots of tulip bulb offspring--enough money to buy ...a large estate or something...
Local legend has it that some wealthy Dutchmen skating on a canal in 1635 were overheard bragging about their business acumen. Van Vandervere boasted, “I yust invested in two sailing ships.” Niels Nielsen countered, “Well, I yust bought three textile mills.” Jan Janssen then chuckled and shook his head, “I beat you guys, I yust bought a flower!!!”
Local legend has it that some wealthy Dutchmen skating on a canal in 1635 were overheard bragging about their business acumen. Van Vandervere boasted, “I yust invested in two sailing ships.” Niels Nielsen countered, “Well, I yust bought three textile mills.” Jan Janssen then chuckled and shook his head, “I beat you guys, I yust bought a flower!!!”
The speculation reached its fever pitch around 1636 with tons of money pouring into the market, including speculation on tulip futures—the bulbs hadn’t even been planted yet and Inge busted her piggy bank for them. But, as you will see, maybe she should have saved up for Beanie Babies…
In early 1637 the market was saturated, and some traders started to sell, often in huge amounts. As the lemmings saw that the market was turning, they panicked and unloaded all of their tulip stock, causing the bubble to burst. So a tulip bulb bought for the price of an estate with an oceanfront view was then devalued to the price of a potato. At least one could eat a potato.
©2011, Jana B. Patrick
©2011, Jana B. Patrick
You make me laugh every time! Not to mention that the “Shock and Awe” piece is very clever and creative. S
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