31 May 2015 - 1 minute read

Ranging from the Dutch tulip bubble of 1637 to Mexico’s Peso crisis of 1994, Part II also explores various manias and panics in 19th century America, including in railroads, land and mines.

Tulipomania: The Dutch Flower Derangement of 1637

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When Dutch speculators heard about rising tulip prices, they thought they had found a cut-and-dried way of making profits. But with the approach of the contract settlement season, prices wilted almost overnight.

A golden bait hung temptingly out before the people, and one after the other, they rushed to the tulip-marts, like flies around a honey-pot

Charles McKay (1846)
The Pit & the Pendulum