A Tray of Jewels
“Here are the tulips, budded and full-blown, their swoops and dips, their gloss and poses, the satin of their darks.” - Margaret Atwood
April took wandering Veena to the Skagit Valley in Washington State to visit the tulip fields and soak in the beauty and joy of celebrating spring with a splash of color.
Did you know that Tulip trading in Holland was one of the first recorded speculative bubble or asset bubble in history going back all the way to the mid 1600s?
Tulip mania was a period during the Dutch Golden Age when contract prices for some bulbs of the recently introduced and fashionable tulip reached extraordinarily high levels, with the major acceleration starting in 1634 and then dramatically collapsing in February 1637. In many ways, the tulip mania was more of a then-unknown socio-economic phenomenon than a significant economic crisis. It had no critical influence on the prosperity of the Dutch Republic, which was one of the world's leading economic and financial powers in the 17th century, with the highest per capita income in the world from about 1600 to about 1720. The term "tulip mania" is now often used metaphorically to refer to any large economic bubble when asset prices deviate from intrinsic values.
The tulips in the Skagit Valley in Washington state first originated with Dutch settlers who brought bulbs with them when they arrived here. Now the bulbs that are harvested here are exported to Holland.