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
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