Sunday, September 19, 2010

Dutch Trade and Commerce

Even though the Dutch lacked natural resources that could sustain trade, the Dutch created very successful trade connections and modeled a modern day economy by lowering duties, saving expenses on ships, and creating a monopolized trading company.

Background on the Dutch Trading:

· Dutch rebelled against their sovereign, the Spanish king Philip II, in that they sought trade in the Americas and East Indies

· Philip II, having been the king of Portugal in 1580, banned the rebellious Dutch from trading in his ports

· Dutch merchants decided to break the Portuguese monopoly over trade with the East Indies

· Created East India Company, which built the foundation for their colonial empire; Inspired other European states to establish monopolized trading corps

· Dutch became extremely successful, attracted attention of other countries

John Keymer’s analysis of the Dutch trading system

****Englishman John Keymer published a series of tracts urging major reforms in English economic policies with these following points

· Liberty of free-trafficking for strangers to buy and sell in Holland

· Small duties levied upon merchants, draws all nations to trade with them

· Fashioned ships continually freighted before others, by reason of their few mariners and great bulk, serving the merchant cheap

· Their employment of herring boats for fishing, and the great returns they make

· Their giving free customs inwards and outwards

No comments:

Post a Comment