The following is a Plus Edition article written by and copyright by Dick Eastman.
Speculation in the stock market, real estate, oil futures, or dot-com firms is commonly associated with contemporary endeavors pursued by daring entrepreneurs. Our predecessors were renowned for taking even more substantial risks in a predominantly uncontrolled economic environment. Arguably the most renowned example is the Dutch Tulip Mania that occurred from 1636 to 1637. Nevertheless, the phenomenon was not limited to the Dutch; a significant number of our forebears in several nations also participated in the fervor. A significant number of individuals experienced financial losses, both substantial and minor.
When tulips come to mind, the majority of us instinctively associate them with Holland. Nevertheless, it is not an indigenous species of that particular nation. In 1593, Charles de L’Ecluse, also known as Carolus Clusius, successfully cultivated tulips that were able to withstand the challenging climate of the Low Countries, which were then known as the United Provinces (today called the Netherlands). Charles received bulbs from Turkey as a gift from his friend, Ogier de Busbecq.
During the Bubonic Plague outbreak in the Netherlands, Charles de L’Ecluse intended to study the tulip plant for its medical properties. He cultivated a petite garden. Allegedly, a group of individuals trespassed into his garden and pilfered a portion of his bulbs with the intention of generating immediate profit, therefore initiating the Dutch bulb trade.
The flower quickly gained popularity as a highly desired luxury item and a mark of social prestige.
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