Then they began to traffic in tulips, as in State bonds and shares.
They sold for enormous sums bulbs which they did not possess, engaging
to provide them for a certain day; and in this way a traffic was
carried on for a much larger number of tulips than the whole of
Holland could furnish. It is related that one Dutch town sold twenty
millions of francs' worth of tulips, and that an Amsterdam merchant
gained in this trade more than sixty-eight thousand florins in the
space of four months. These sold that which they had not, and those
that which they never could have; the market passed from hand to hand,
the differences were paid, and the flowers for and by which so many
people were ruined or enriched, flourished only in the imagination of
the traffickers. Finally matters arrived at such a pass that, many
buyers having refused to pay the sums agreed upon, and contests and
disorders following, the government decreed that these debts should be
considered as ordinary obligations, and that payment should be exacted
in the usual legal manner; then prices fell suddenly, as low as fifty
florins for the "Semper Augustus," and the scandalous traffic ceased.
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