Town Exploration Amsterdam 1

The Canals of Amsterdam

I’ve relieved of the necessity to search for the Town Walls of Amsterdam without prior research by the fact that I am here to see my daughter who has recently broken her ankle, so she has an excuse for refusing to go on forced forced marches around the City.

I haven’t yet had a good look at a map, but the pattern of Canals circuling the centre is amazing and it seems possible there was no need for walls, when the centre is protected by so many rings of water.

I don’t know much about Amsterdam, but it reminds me of the surprising fact that Holland was a major power in the 17th/18th Century. I discovered this on a visit to Kerala in India where I realised that Portugal had a vast empire which was largely taken over by the Dutch in the 17th Century and then taken over by the British in the 18th Century.

It was one of the major pivots in world history. These three countries were small peripheral seafaring nations of no great importance in Europe until the Age of Discovery. Portugal set up trading systems (perhaps rather systems of exploitation) first down the coast of Africa and then to India and beyond. The Dutch then took over the trading stations and took control of the spice routes. Then the British took over.

Previously the spice routes from the East came through Egypt, Greece, Rome, Carthage and later the Ottoman and the Venetian Empires. This made the Mediterranean the richest place in Europe, both north and southern coasts.

The new ocean routes led to a major shift in power from the Mediterranean to the North Sea, leading to the current situation where the Mediterranean is no longer the centre of the world. Greece, Southern Italy, North Africa now under performing economies. A Roman would find this hard to believe.

Portugal, then Holland followed by Britain rose to the status of world power which would, itself, have been inconceivable before the 16th Century.

Holland was in the perfect geographic position astride the trade routes that lead to the heart of Europe. The entry point was the major river systems around the Rhine/Danube axis including the Rhine, the Scheldt, the Waal, and the Amstel. Antwerp, Rotterdam and Amsterdam developed from regional trading towns to global Cities. They spawned a self confident set of merchants who set the foundations of modern capitalism with foundations in spices and slaves.

Central to this was the Dutch East India Company. The first organisation in Europe where an investor only risked their investment rather than the shirt off their back in the event of bankruptcy. This let the shackles off investment, took money out of gold in the bank vaults and multiplied it around the economy.

But not only did it take away the risks of the consequences of investment the Dutch East India Company, set up in Amsterdam in 1602, was given quasi state power, with the ability to fight wars and impose laws on subject populations. This template was copied by the British East India Company which conquered and ran India, setting the seal for the British Empire and Capitalism.

The Financial City from Slavery to Hedge Fund Virtual Walk

City of London at Night
Night view of the City of London

THE FINANCIAL CITY FROM SLAVERY TO HEDGE FUND VIRTUAL WALK

SUNDAY 30th May 2021 6.30pm

To book

This walks looks at the development of the City of London as a financial centre. Its origins were among the money lenders of the Jewish and Italian quarters of Old Jewry and Lombard Street. We continue the story with the introduction of the first commercial companies and the Merchant Adventurers of Elizabethan London, alongside the revival of the cruel trade in Slaves. We walk through the alleyways of the City where innovation went side by side with the introduction of Coffee in the Coffee Houses of Stuart
London.

We look at the distinctive architecture of the City as we walk around one of the most specialised market places in the world that once prided itself on the virtues of providing face to face contact.. The financial institutions in the City have encountered many changes since the scandal of the South Sea Bubble and it has weathered them all, so far. It was given a huge boast by the ‘Big Bang’ in Mrs Thatcher’s time. But the consequences of the effects of Brexit and Covid on top of the Internet are not yet clear on the City.


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