The Golden Age of the Dutch
Republic
The Dutch Republic, though geographically small, was an
economic giant during the 17th century.
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During the 17th Century the Dutch Republic was unique
Perhaps no other area saw such a flourishing of progressive ideas
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Capitalistic energy
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Scientific and artistict achievement
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Fiercely republican
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Religiously tolerant
While many nations were in the process of centralizing, the Dutch
states remained a loose confederation of seven independent and
strong states, each with its own provincial assembly or estate.
They unified in a States General on foreign policy issues, where they
also appointed a chief executive for each province, the stadholder.
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The sons of William the Silent of the House of Orange, who had
led the independence movement, became the stadholder in all
seven provinces.
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It was the Dutch stadholder William, husband to Mary, who
became the king of England in 1689 in the Glorious Revolution
Holland, because of its extraordinary wealth, was the dominant state
of the seven
 Many historians suggest that Dutch capitalistic success was connected,
either as a cause or as a result, with the Calvinist work ethic and also
with the concerted efforts of city councils to create good business
climates.
 The city councils made sure that their granaries were full, so that
famine was completely avoided and food prices stayed stable.
 The city council of Amsterdam guaranteed the deposits at the Bank of
Amsterdam, thus attracting a great deal of foreign capital.
 The Dutch merchant marine, the largest in Europe (some 16,000 ships),
charged the lowest rates in Europe.
 With these ships the Dutch were able to buy in bulk entire wheat
crops in Poland, and sell the goods in Amsterdam and transport them
on their own ships.
 The Dutch successfully expanded their sphere of business beyond
Europe when they founded the Dutch East India Company in 1602 and
the Dutch West India Company in 1621.
 They established important trading posts and settlements in South
Africa, Ceylon, and Malacca, among others.
 The Dutch lived better than everyone else in Europe in the 17th century
as a result of their success as merchants and traders.
 The Dutch began to fall on harder times due to increasing competition
from France and Britain, both of which went to war with the United
Provinces in the 1670s
 By the end of the War of Spanish Succession (1701-1714), which drained
Dutch resources, Dutch economic decline was under way.