“Thetulipnextappeared，allovergay，Butwanton，fullofpride，andfullofplay；
　　Theworldcan’tshowadyebutherehasplace；
　　Nay，bynewmixtures，shecanchangeherface；
　　Purpleandgoldarebothbeneathhercare-
　　Therichestneedleworkshelovestowear；
　　Heronlystudyistopleasetheeye，Andtooutshinetherestinfinery。“
　　This，thoughnotverypoetical，isthedescriptionofapoet。
　　Beckmann，inhisHistoryofInventions，paintsitwithmorefidelity，andinprosemorepleasingthanCowley’spoetry。Hesays，“Therearefewplantswhichacquire，throughaccident，weakness，ordisease，somanyvariegationsasthetulip。Whenuncultivated，andinitsnaturalstate，itisalmostofonecolour，haslargeleaves，andanextraordinarilylongstem。Whenithasbeenweakenedbycultivation，itbecomesmoreagreeableintheeyesoftheflorist。Thepetalsarethenpaler，smaller，andmorediversifiedinhue；andtheleavesacquireasoftergreencolour。Thusthismasterpieceofculture，themorebeautifulitturns，growssomuchtheweaker，sothat，withthegreatestskillandmostcarefulattention，itcanscarcelybetransplanted，orevenkeptalive。“
　　Manypersonsgrowinsensiblyattachedtothatwhichgivesthemagreatdealoftrouble，asamotheroftenloveshersickandever-ailingchildbetterthanhermorehealthyoffspring。Uponthesameprinciplewemustaccountfortheunmeritedencomialavisheduponthesefragileblossoms。In1634，therageamongtheDutchtopossessthemwassogreatthattheordinaryindustryofthecountrywasneglected，andthepopulation，eventoitslowestdregs，embarkedinthetuliptrade。Asthemaniaincreased，pricesaugmented，until，intheyear1635，manypersonswereknowntoinvestafortuneof100，000
　　florinsinthepurchaseoffortyroots。Itthenbecamenecessarytosellthembytheirweightinperits，asmallweightlessthanagrain。
　　AtulipofthespeciescalledAdmiralLiefken，weighing400perits，wasworth4400florins；anAdmiralVonderEyk，weighing446perits，wasworth1260florins；ashilderof106peritswasworth1615
　　florins；aviceroyof400perits，3000florins，and，mostpreciousofall，aSemperAugustus，weighing200perits，wasthoughttobeverycheapat5500florins。Thelatterwasmuchsoughtafter，andevenaninferiorbulbmightcommandapriceof2000florins。Itisrelatedthat，atonetime，earlyin1636，therewereonlytworootsofthisdescriptiontobehadinallHolland，andthosenotofthebest。OnewasinthepossessionofadealerinAmsterdam，andtheotherinHarlaem。Soanxiouswerethespeculatorstoobtainthemthatonepersonofferedthefee-simpleoftwelveacresofbuildinggroundfortheHarlaemtulip。ThatofAmsterdamwasboughtfor4600florins，anewcarriage，twogreyhorses，andacompletesuitofharness。
　　Munting，anindustriousauthorofthatday，whowroteafoliovolumeofonethousandpagesuponthetulipomania，haspreservedthefollowinglistofthevariousarticles，andtheirvalue，whichweredeliveredforonesinglerootoftherarespeciescalledtheviceroy:——
　　florins。
　　Twolastsofwheat。
　　Fourlastsofrye
　　Fourfatoxen
　　Eightfatswine
　　Twelvefatsheep。
　　Twohogsheadsofwine。
　　Fourtunsofbeer……
　　Twotonsofbutter。
　　Onethousandlbs。ofcheese。
　　Acompletebed。
　　Asuitofclothes。
　　Asilverdrinkingcup。
　　PeoplewhohadbeenabsentfromHolland，andwhosechanceitwastoreturnwhenthisfollywasatitsmaximum，weresometimesledintoawkwarddilemmasbytheirignorance。ThereisanamusinginstanceofthekindrelatedinBlainville’sTravels。Awealthymerchant，whopridedhimselfnotalittleonhisraretulips，receivedupononeoccasionaveryvaluableconsignmentofmerchandisefromtheLevant。
　　Intelligenceofitsarrivalwasbroughthimbyasailor，whopresentedhimselfforthatpurposeatthecounting-house，amongbalesofgoodsofeverydescription。Themerchant，torewardhimforhisnews，munificentlymadehimapresentofafineredherringforhisbreakfast。Thesailorhad，itappears，agreatpartialityforonions，andseeingabulbverylikeanonionlyinguponthecounterofthisliberaltrader，andthinkingit，nodoubt，verymuchoutofitsplaceamongsilksandvelvets，heslilyseizedanopportunityandslippeditintohispocket，asarelishforhisherring。Hegotclearoffwithhisprize，andproceededtothequaytoeathisbreakfast。HardlywashisbackturnedwhenthemerchantmissedhisvaluableSemperAugustus，worththreethousandflorins，orabout280poundssterling。Thewholeestablishmentwasinstantlyinanuproar；searchwaseverywheremadeforthepreciousroot，butitwasnottobefound。Greatwasthemerchant’sdistressofmind。Thesearchwasrenewed，butagainwithoutsuccess。Atlastsomeonethoughtofthesailor。
　　Theunhappymerchantsprangintothestreetatthebaresuggestion。
　　Hisalarmedhouseholdfollowedhim。Thesailor，simplesoul！hadnotthoughtofconcealment。Hewasfoundquietlysittingonacoilofropes，masticatingthelastmorselofhis“onion。“Littledidhedreamthathehadbeeneatingabreakfastwhosecostmighthaveregaledawholeship’screwforatwelvemonth；or，astheplunderedmerchanthimselfexpressedit，“mighthavesumptuouslyfeastedthePrinceofOrangeandthewholecourtoftheStadtholder。“AnthonycausedpearlstobedissolvedinwinetodrinkthehealthofCleopatra；SirRichardWhittingtonwasasfoolishlymagnificentinanentertainmenttoKingHenryV；andSirThomasGreshamdrankadiamond，dissolvedinwine，tothehealthofQueenElizabeth，whensheopenedtheRoyalExchange:butthebreakfastofthisroguishDutchmanwasassplendidaseither。Hehadanadvantage，too，overhiswastefulpredecessors:theirgemsdidnotimprovethetasteorthewholesomenessoftheirwine，whilehistulipwasquitedeliciouswithhisredherring。Themostunfortunatepartofthebusinessforhimwas，thatheremainedinprisonforsomemonths，onachargeoffelony，preferredagainsthimbythemerchant。
　　AnotherstoryistoldofanEnglishtraveller，whichisscarcelylessludicrous。Thisgentleman，anamateurbotanist，happenedtoseeatulip-rootlyingintheconservatoryofawealthyDutchman。Beingignorantofitsquality，hetookouthispenknife，andpeeledoffitscoats，withtheviewofmakingexperimentsuponit。Whenitwasbythismeansreducedtohalfitsoriginalsize，hecutitintotwoequalsections，makingallthetimemanylearnedremarksonthesingularappearancesoftheunknownbulb。Suddenlytheownerpounceduponhim，and，withfuryinhiseyes，askedhimifheknewwhathehadbeendoing？“Peelingamostextraordinaryonion，“repliedthephilosopher。
　　“Hunderttausendduyvel，“saidtheDutchman；“it’sanAdmiralVanderE。yck。““Thankyou，“repliedthetraveller，takingouthisnote-booktomakeamemorandumofthesame；“aretheseadmiralscommoninyourcountry？““Deathandthedevil，“saidtheDutchman，seizingtheastonishedmanofsciencebythecollar；“comebeforethesyndic，andyoushallsee。“Inspiteofhisremonstrances，thetravellerwasledthroughthestreets，followedbyamobofpersons。
　　Whenbroughtintothepresenceofthemagistrate，helearned，tohisconsternation，thattherootuponwhichhehadbeenexperimentalizingwasworthfourthousandflorins；and，notwithstandingallhecouldurgeinextenuation，hewaslodgedinprisonuntilhefoundsecuritiesforthepaymentofthissum。
　　Thedemandfortulipsofararespeciesincreasedsomuchintheyear1636，thatregularmartsfortheirsalewereestablishedontheStockExchangeofAmsterdam，inRotterdam，Harlaem，Leyden，Alkmar，Hoorn，andothertowns。Symptomsofgamblingnowbecame，forthefirsttime，apparent。Thestockjobbers，everonthealertforanewspeculation，dealtlargelyintulips，makinguseofallthemeanstheysowellknewhowtoemploy，tocausefluctuationsinprices。Atfirst，asinallthesegamblingmania，confidencewasatitsheight，andeverybodygained。Thetulip-jobbersspeculatedintheriseandfallofthetulipstocks，andmadelargeprofitsbybuyingwhenpricesfell，andsellingoutwhentheyrose。Manyindividualsgrewsuddenlyrich。A
　　goldenbaithungtemptinglyoutbeforethepeople，and，oneaftertheother，theyrushedtothetulipmarts，likefliesaroundahoneypot。
　　Everyoneimaginedthatthepassionfortulipswouldlastforever，andthatthewealthyfromeverypartoftheworldwouldsendtoHolland，andpaywhateverpriceswereaskedforthem。TherichesofEuropewouldbeconcentratedontheshoresoftheZuyderZee，andpovertybanishedfromthefavouredclimeofHolland。Nobles，citizens，farmers，mechanics，seamen，footmen，maidservants，evenchimney-sweepsandoldclotheswomen，dabbledintulips。Peopleofallgradesconvertedtheirpropertyintocash，andinvesteditinflowers。Housesandlandswereofferedforsaleatruinouslylowprices，orassignedinpaymentofbargainsmadeatthetulip-mart。Foreignersbecamesmittenwiththesamefrenzy，andmoneypouredintoHollandfromalldirections。Thepricesofthenecessariesofliferoseagainbydegrees；housesandlands，horsesandcarriages，andluxuriesofeverysort，roseinvaluewiththem，andforsomemonthsHollandseemedtheveryantechamberofPlutus。Theoperationsofthetradebecamesoextensiveandsointricate，thatitwasfoundnecessarytodrawupacodeoflawsfortheguidanceofthedealers。Notariesandclerkswerealsoappointed，whodevotedthemselvesexclusivelytotheinterestsofthetrade。Thedesignationofpublicnotarywashardlyknowninsometowns，thatoftulipnotaryusurpingitsplace。Inthesmallertowns，wheretherewasnoexchange，theprincipaltavernwasusuallyselectedasthe“showplace，“wherehighandlowtradedintulips，andconfirmedtheirbargainsoversumptuousentertainments。Thesedinnersweresometimesattendedbytwoorthreehundredpersons，andlargevasesoftulips，infullbloom，wereplacedatregularintervalsuponthetablesandsideboards，fortheirgratificationduringtherepast。
　　Atlast，however，themoreprudentbegantoseethatthisfollycouldnotlastforever。Richpeoplenolongerboughttheflowerstokeepthemintheirgardens，buttosellthemagainatcent。percent。
　　profit。Itwasseenthatsomebodymustlosefearfullyintheend。Asthisconvictionspread，pricesfell，andneverroseagain。Confidencewasdestroyed，andauniversalpanicseizeduponthedealers。AhadagreedtopurchasetenSempersAugustinesfromB，atfourthousandflorinseach，atsixweeksafterthesigningofthecontract。Bwasreadywiththeflowersattheappointedtime；butthepricehadfallentothreeorfourhundredflorins，andArefusedeithertopaythedifferenceorreceivethetulips。DefaulterswereannounceddayafterdayinallthetownsofHolland。Hundredswho，afewmonthspreviously，hadbeguntodoubtthattherewassuchathingaspovertyintheland，suddenlyfoundthemselvesthepossessorsofafewbulbs，whichnobodywouldbuy，eventhoughtheyofferedthematonequarterofthesumstheyhadpaidforthem。Thecryofdistressresoundedeverywhere，andeachmanaccusedhisneighbour。Thefewwhohadcontrivedtoenrichthemselveshidtheirwealthfromtheknowledgeoftheirfellow-citizens，andinvesteditintheEnglishorotherfunds。
　　Manywho，forabriefseason，hademergedfromthehumblerwalksoflife，werecastbackintotheiroriginalobscurity。Substantialmerchantswerereducedalmosttobeggary，andmanyarepresentativeofanoblelinesawthefortunesofhishouseruinedbeyondredemption。
　　Whenthefirstalarmsubsided，thetulip-holdersintheseveraltownsheldpublicmeetingstodevisewhatmeasureswerebesttobetakentorestorepubliccredit。Itwasgenerallyagreed，thatdeputiesshouldbesentfromallpartstoAmsterdam，toconsultwiththegovernmentuponsomeremedyfortheevil。TheGovernmentatfirstrefusedtointerfere，butadvisedthetulip-holderstoagreetosomeplanamongthemselves。Severalmeetingswereheldforthispurpose；
　　butnomeasurecouldbedevisedlikelytogivesatisfactiontothedeludedpeople，orrepairevenaslightportionofthemischiefthathadbeendone。Thelanguageofcomplaintandreproachwasineverybody’smouth，andallthemeetingswereofthemoststormycharacter。Atlast，however，aftermuchbickeringandill-will，itwasagreed，atAmsterdam，bytheassembleddeputies，thatallcontractsmadeintheheightofthemania，orpriortothemonthofNovember1636，shouldbedeclarednullandvoid，andthat，inthosemadeafterthatdate，purchasersshouldbefreedfromtheirengagements，onpayingtenpercent。tothevendor。Thisdecisiongavenosatisfaction。Thevendorswhohadtheirtulipsonhandwere，ofcourse，discontented，andthosewhohadpledgedthemselvestopurchase，thoughtthemselveshardlytreated。Tulipswhichhad，atonetime，beenworthsixthousandflorins，werenowtobeprocuredforfivehundred；sothatthecompositionoftenpercent。wasonehundredflorinsmorethantheactualvalue。Actionsforbreachofcontractwerethreatenedinallthecourtsofthecountry；butthelatterrefusedtotakecognizanceofgamblingtransactions。