DID YOU KNOW? :: Tulip-Mania
While the world is slowly recovering from the economic meltdown of last year, it's interesting to know that it's happened before, and the commodity of financial ruin was tulips! In the early 17th century, the introduction of the tulip bulb from Turkey to the Netherlands created a frenzy of interest in this new flower. The original red, yellow and white colours were increased by exotic varieties created by a tulip virus, which resulted in vibrant flame-like petals. These became status symbols and drove the price of bulbs through the roof. Because the bulbs wouldn't bloom until the following year, trading became a "futures market", with all the trappings of our current financial exchanges (short selling, margins etc.). At one point, a single bulb could cost more than a year's salary for a skilled artisan. Of course, this volatile situation couldn't last forever, and in February 1637, the market collapsed and tulips were no longer viewed as a monetary investment.
Luckily, today, we can buy lovely varieties at a reasonable price and have a beautiful spring garden to fit any budget.
Luckily, today, we can buy lovely varieties at a reasonable price and have a beautiful spring garden to fit any budget.
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