The perennial tulips blossom in the spring and are created from bulbs. Tulip plants can grow as tall as 28 inches or as little as 4 inches (10 cm), depending on the species (71 cm). Large tulip flowers typically bloom on bractless scapes or sub-scapose stems. A few kinds of tulips have many flowers on their scapes, but the majority of tulips only have one flower per stem (e.g. Tulipa turkestanica). Three petals and three sepals, which are frequently referred to as tepals because of their similarity, make up the spectacular, typically cup- or star-shaped tulip flower. The inside surfaces of these six tepals frequently have deeper colorings close to the bases. Other than pure blue, tulip blossoms occur in a wide range of colors ” (several tulips with “blue in the name have a faint violet hue)
A. Semper Augustus existed long before anyone had heard of Qualcomm, CMGI, Cisco Systems, or any of the other high-tech firms that have risen during the present bull market. It was a tulip of exceptional beauty, its midnight-blue petals capped by a belt of pristine white and punctuated with scarlet flares, more mundane and beautiful than any stock or bond. Little was as desired to the inhabitants of Holland in the 17th century.
B. A guy from Amsterdam who had the sole dozen specimens received a bid of 3,000 guilders for each bulb about 1624. Although there is no exact way to translate that into modern-day dollars, the amount was about equivalent to a wealthy merchant’s yearly revenue. (Rembrandt received around half of that sum for his painting The Night Watch a few years later.) But the bulb’s owner, whose name has since been forgotten, rejected the proposal.
C. The person who was willing to splurge or the tulip enthusiast who refused to sell for a modest fortune was weirder. After reading British journalist Mike Dash’s book Tulip Mania: The Story of the World’s Most Coveted Flower and the Extraordinary Passions It Aroused, one would wonder why. Tulip fever has been used frequently in recent years as investors have purposefully forgotten what they learnt in Investing 101 in order to stock up on unproven, unprofitable dot-com issues. Dash explains the true story behind the fad in this succinct, beautifully written book, and in doing so, provides a lesson for the present.
D. The tulip did not first capture the attention of the Dutch. The flower had charmed the Persians and entranced the sultans of the Ottoman Empire long before the first tulip bloomed in Europe—in Bavaria, it turns out—in 1559. However, for reasons unrelated to horticulture, Holland was where the tulip obsession found its most fertile ground.
Early in the 17th century, E. Holland was beginning its Golden Age. Resources that were used to battle for freedom from Spain only a few years earlier were now flowing into trade. The rich East Indies trade, where a single voyage might generate 400 percent profits, was centered on Amsterdam merchants. They built opulent estates encircled by flower gardens as a way to demonstrate their accomplishment. The fear of living beyond one’s means and the desire of a long shot appeared to be the two opposing motivations that drove the Dutch population.
F. Welcome, tulip “According to Dash, it is difficult to grasp the tulip mania without realizing how unique tulips were in comparison to every other flower known to horticulturists in the 17th century. ” They displayed hues that were more vibrant and concentrated than those of common plants. Normal tulips were sold by the pound notwithstanding the exorbitant rates demanded by uncommon bulbs. But around 1630, a new breed of tulip enthusiast emerged, drawn by rumors of huge earnings. These “Both flower enthusiasts and investors were sought after by florists, or professional tulip traders. But while the number of people buying tulips increased quickly, the number of bulbs did not. A tulip takes seven years to grow from a seed, making it a complicit participant in the supply crunch. Additionally, whereas bulbs can create two to three clones, or “annually offsets, the mother bulb only endures a few years.
G. As more and more speculators entered the market, bulb prices increased steadily throughout the 1630s. Farmers and weavers mortgaged whatever they could to get the money they needed to start trading. A farmhouse in Hoorn was traded for three valuable bulbs in 1633. By 1636, any tulip could be sold, frequently for hundreds of guilders, even bulbs that were previously regarded as trash. There was a futures market for bulbs, and tulip traders could be seen operating at thousands of Dutch inns. The winter of 1636–1637 saw the height of the tulip mania, with some bulbs changing hands ten times each day. The peak occurred early that winter during an auction for seven orphans whose only possession was a collection of 70 exquisite tulips left by their late father. The most expensive bulb ever sold was a rare Violetten Admirael van Enkhuizen that was on the verge of splitting in two. In total, the flowers generated close to 53,000 guilders.
H. Soon after, the tulip market completely and dramatically collapsed. It all started in Haarlem at a typical bulb auction when the larger fool for the first time skipped the event and refused to make a purchase. The fear quickly swept across the nation in a matter of days. The market for tulips collapsed despite merchants’ best efforts to maintain demand. Flowers that fetched 5,000 guilders a few weeks ago today only brought one hundredth of that price. Tulipmania has its drawbacks. Dash spends too much time thinking about the tulip’s journey from Asia to Holland. But he does a service with this clear-cut, understandable description of astounding financial foolishness.
I. The dot-com boom that has our attention today differs significantly from the tulip frenzy because, even at its height, the Amsterdam Stock Exchange, which had been around since 1630, refused to deal with tulips.”
According to Dash, tulip bulb speculation has always been a minor aspect of Dutch economic life. Following the market meltdown, a deal was reached that allowed the majority of traders to settle their debts for a small portion of their original responsibility. The economic impact on the Dutch economy as a whole was minimal. Will we still be saying that when Wall Street’s present fixation ends?
Questions
14. There are differences between the effects of the tulip and high-tech share bubble bursts.
15. The tulip’s early-modern spread
16. Evidence of payment for a rare bulb in the 17th century
17. In Holland, tulips were treated as currency.
18. A comparison of various flora and tulips
Do the ensuing claims accord with the details in Reading Passage 2? Write in boxes 19 through 23 on your response sheet.
19. A individual in Amsterdam owned the entire collection of tulips in 1624.
20. This verse claims that Holland is where the tulip was first sown.
21. In the 17th century, Holland had a far higher rate of tulip popularity than any other nation.
22. During the 17th century, Holland was the richest nation on earth.
23. The Amsterdam Stock Exchange began to control the tulip exchange market in 1630.
Use no more than two words from the Reading Passage in each response to complete the following summary of the paragraphs from the passage.
Early in the 17th century, the Dutch focused on winning independence through ____24___ against Spain; as a result, more resources reached the region of 25 . Rich traders displayed their status by erecting massive _____26___ and surrounding gardens. The success of the tulip profit attracted traders, who kept hunting for speculator for sale and 27.
What year did the tulip bubble burst?
The perennial tulips blossom in the spring and are created from bulbs. Tulip plants can grow as tall as 28 inches or as little as 4 inches (10 cm), depending on the species (71 cm). Large tulip flowers typically bloom on bractless scapes or sub-scapose stems. A few kinds of tulips have many flowers on their scapes, but the majority of tulips only have one flower per stem (e.g. Tulipa turkestanica). Three petals and three sepals, which are frequently referred to as tepals because of their similarity, make up the spectacular, typically cup- or star-shaped tulip flower. On the internal surface around the bases of these six sepals, deeper colorings are frequently visible markings. Other than pure blue, tulip blossoms come in a wide range of colors (several tulips with “blue in the name have a faint violet hue)
- Semper Augustus existed long before anyone had ever heard of Qualcomm, CMGI, Cisco Systems, or any of the other high-tech firms that have risen during the present bull market. It was a tulip of exceptional beauty, its midnight-blue petals capped by a belt of pristine white and punctuated with scarlet flares, more mundane and beautiful than any stock or bond. Little was as desired to the inhabitants of Holland in the 17th century.
- The single owner of a dozen examples, an Amsterdam resident, received a 3,000 guilder bid for one bulb around 1624. Although there is no exact way to translate that into modern-day dollars, the amount was about equivalent to a wealthy merchant’s yearly revenue. (Rembrandt received around half of that sum for his painting The Night Watch a few years later.) But the bulb’s owner, whose name has since been forgotten, rejected the proposal.
- Who was more insane, the tulip enthusiast who wouldn’t sell for a tiny money or the one who was willing to spend lavishly. After reading British journalist Mike Dash’s book Tulip Mania: The Story of the World’s Most Coveted Flower and the Extraordinary Passions It Aroused, one would wonder why. Tulip fever has been used frequently in recent years as investors have purposefully forgotten what they learnt in Investing 101 in order to stock up on unproven, unprofitable dot-com issues. Dash explains the true story behind the fad in this succinct, beautifully written book, and in doing so, provides a lesson for the present.
- The tulip did not immediately capture the attention of the Dutch. The flower had charmed the Persians and entranced the sultans of the Ottoman Empire long before the first tulip bloomed in Europe—in Bavaria, it turns out—in 1559. However, for reasons unrelated to horticulture, Holland was where the tulip obsession found its most fertile ground.
- Early in the 17th century, Holland was beginning its Golden Age. Resources that were used to battle for freedom from Spain only a few years earlier were now flowing into trade. The rich East Indies trade, where a single voyage might generate 400 percent profits, was centered on Amsterdam merchants. They built opulent estates encircled by flower gardens as a way to demonstrate their accomplishment. The fear of living above one’s means and the enjoyment of a long shot seemed to be two opposing drives that the Dutch population had.
- It is hard to grasp the tulip fever without realizing how unique tulips were compared to every other flower known to horticulturists in the 17th century, claims Dash. ” They displayed hues that were more vibrant and concentrated than those of common plants. Normal tulips were sold by the pound notwithstanding the exorbitant rates demanded by uncommon bulbs. But around 1630, a new breed of tulip enthusiast emerged, drawn by rumors of huge earnings. These “florists,” or professional tulip merchants, went in search of both flower enthusiasts and investors. But while the number of people buying tulips increased quickly, the number of bulbs did not. A tulip takes seven years to grow from a seed, making it a complicit participant in the supply crunch. The mother bulb only lasts a few years even though bulbs can annually produce two or three clones, or “offsets.”
- As more and more speculators entered the market, bulb prices increased steadily throughout the 1630s. Farmers and weavers mortgaged whatever they could to get the money they needed to start trading. A farmhouse in Hoorn was traded for three valuable bulbs in 1633. By 1636, any tulip could be sold, frequently for hundreds of guilders, even bulbs that were previously regarded as trash. There was a futures market for bulbs, and tulip traders could be seen operating at thousands of Dutch inns. The winter of 1636–1637 saw the height of the tulip mania, with some bulbs changing hands ten times each day. The pinnacle occurred in the early months of that winter during an auction to aid seven orphans whose father had left them only 70 exquisite tulips. The most expensive bulb ever sold was a rare Violetten Admirael van Enkhuizen that was on the verge of splitting in two. In total, the flowers generated close to 53,000 guilders.
- Soon after, the tulip market completely and dramatically collapsed. It all started in Haarlem at a typical bulb auction when the larger fool for the first time skipped the event and refused to make a purchase. The fear quickly swept across the nation in a matter of days. The market for tulips collapsed despite merchants’ best efforts to maintain demand. Flowers that fetched 5,000 guilders a few weeks ago today only brought one hundredth of that price. Tulipmania has its drawbacks. Dash spends too much time thinking about the tulip’s journey from Asia to Holland. But he does a service with this clear-cut, understandable description of astounding financial foolishness.
- The dot-com boom that has our attention today and tulip mania are fundamentally different in that, even at its height, the Amsterdam Stock Exchange, which had been around since 1630, refused to deal with tulips.
- According to Dash, tulip bulb speculation has always been a minor aspect of Dutch economic life. Following the market meltdown, a deal was reached that allowed the majority of traders to settle their debts for a small portion of their original responsibility. The economic impact on the Dutch economy as a whole was minimal. Will we still be saying that when Wall Street’s present fixation ends?
Tulips – a member of the lily family?
The genus Tulipa contains perennial herbaceous bulbiferous geophytes that bloom in the spring (having bulbs as storage organs). Either, the flowers are huge, spectacular, and colorful, typically red, pink, yellow, or white (usually in warm colours). They frequently feature an interior blotch of a distinct color at the base of the tepals (petals and sepals, collectively). Classification has been difficult and contentious because to population heterogeneity and a lengthy history of cultivation. The tulip is one of 14 genera that make up the lily family, Liliaceae, and is most closely related to the genera Amana, Erythronium, and Gagea in the tribe Lilieae.
There are four subgenera and 75 species total, which are distributed among them. The word “tulip” is believed to have originated from a Persian word for turban, which the plant’s discoverers may have mistakenly identified as its resemblance. Originally found in a belt from Southern Europe to Central Asia, tulips have been widely naturalized and cultivated since the seventeenth century (see map). They are best suited to steppes and mountains with temperate climates in their natural state. They bloom in the spring and go dormant in the summer when their flowers and leaves fall off. In the early spring, a branch from the underground bulb will appear above ground.
Tulips were first grown in Constantinople in 1055, having previously been seen growing wild across much of the Near East and Central Asia. Tulips were among the most coveted flowers by the 15th century and became associated with the Ottoman Empire. [2] Tulips may have been grown in Persia as early as the ninth century, but it wasn’t until the sixteenth century that Western diplomats visiting the Ottoman court noticed and recorded information about them that they became known to the West. During the tulip frenzy, they were quickly introduced to Europe and turned into a frantic commodity. Since the Netherlands, the primary supplier for international markets, frequently featured tulips in its paintings throughout the Dutch Golden Age, the flower has come to be linked with the country. During the Dutch tulip frenzy of the seventeenth century, the tulip breaking virus infected tulip bulbs, resulting in varied patterns in the tulip flowers that were highly prized and loved. Since Rembrandt painted some of the most coveted breaks of his day, the Rembrandts are the closest living specimens to truly broken tulips, which are no longer present. [3]
In addition to the original species, breeding programs have developed thousands of hybrids and cultivars (known in horticulture as botanical tulips). They are well-liked all over the world as cut flowers as well as decorative garden plants.