As the eighteenth century wore on, the VOC’s share of the Asia trade declined significantly compared to its rivals, the most important of which was the English East India Company.The last sector that we need to highlight is finance, perhaps the most important sector for the development of the early modern Dutch economy. As early as the fourteenth century, Italian merchants had been experimenting with ways to decrease the use of cash in long-distance trade. One of the characteristics of Dutch agriculture during this period was its emphasis on intensive animal husbandry. The population of these maritime provinces had been steadily growing throughout the sixteenth century, perhaps tripling between the first years of the sixteenth century to about 1650. Dutch merchants purchased huge amounts of sugar from both the French and the English islands in the West Indies, along with a great deal of tobacco. Within just a few years of the Fall of Antwerp (1585), scores of merchants and mostly Calvinist craftsmen fled the south for the relative security of the Northern Netherlands.The exodus from the south certainly added to the already growing population of the north. The resulting high quality product was much in demand all over Europe, from Novgorod to the Mediterranean. Dutch strategy was to avoid Iberian strongholds while penetrating markets where the products they desired could be found. Thanks to the travelogue of Jan Huyghen van Linschoten, which was published in 1596, the Dutch gained the information they needed to make the voyage. Amsterdam ‘s exchange bank flourished because of its ability to handle deposits and transfers, and to settle international debts.By the second half of the seventeenth century many wealthy merchant families had turned away from foreign trade and began engaging in speculative activities on a much larger scale. Study Notes, LLC., 29 Dec. 2013. Agriculture and fishing formed the basis for the Dutch economy in the fifteenth and sixteenth centuries. The trade in slaughter cattle expanded from about 1500 to 1660, but protectionist measures on the part of Dutch authorities who wanted to encourage the fattening of home-bred cattle ensured a contraction of the international cattle trade between 1660 and 1750.Although agriculture made up the largest segment of the Dutch economy, cereal production in the Netherlands could not keep up with demand particularly by the seventeenth century as migration from the southern provinces contributed to population increases. The herring catch as well as the number of busses began to decline in the second half of the seventeenth century, collapsing by about the mid-eighteenth century when the catch amounted to only about 6000 lasts. This permitted the herring ship to remain at sea longer and increased the range of the herring fishery. (AP Photo/Peter Dejong)Connect with the definitive source for global and local news Probably stemming from the inaction on the part of merchants from the Southern Netherlands to participate in seaborne transport, the towns of Zeeland and Holland began to serve the shipping needs of the commercial towns of Flanders and Brabant (particularly Antwerp ). By the mid-1590s only a few Dutch ships each year were making the voyage across the Atlantic. Brabant also rose to an important position in textile industry, but only about a century after Flanders. Dutch merchants purchased huge amounts of sugar from both the French and the English islands in the West Indies, along with a great deal of tobacco. These bills of exchange were not routinely used in commerce in the Low Countries until the sixteenth century when Antwerp was still the dominant commercial city in the region. Not until roughly one hundred years after the first Portuguese voyage to Asia were the Dutch in a position to mount their own expedition. History of Europe - History of Europe - Trade and the “Atlantic revolution”: The new importance of northwestern Europe in terms of overall population and concentration of large cities reflects in part the “Atlantic revolution,” the redirection of trade routes brought about by the great geographic discoveries. The herring bus was developed in the fifteenth century in order to allow the herring catch to be processed with salt at sea.
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