“Fast” is a speech that is to be referred to Current stock market. Prices are updated on a screen real -time, and actions change hands by pressing a button: The fact of modern tradeTokyo, London or New York. But, How did everything start? Turns out that the roots of modern stock market trade are earlier A Dutch business company four centuries ago.
On March 20, 1602, the Oriental Indies Dutch Company (“Verinigte Ostendic Combagni”) or VOC was announced in Dutch. First Early General Offer (OPI), Posting sites Modern financial markets. Section 10 of its laws said: “All residents of these lands can buy shares of this company.”
The idea of investments is before introducing VOC OPI. Dutch historian Martin Prak explained to Eurnevas, before VOC, companies followed a traditional model Merchants gathered money on a business trip to Europe or abroad.
“After traveling, accounts were left out, people, benefit or at least one positive decision, He recovered his investment. Then, of course, they can invest in the next trip, ”he added. However, COV was a pioneer in two specific features. First, first, first, The property of the stock was open to everyoneSecondly, stocks are negotiated without the minimum amount of investment installed.
Dutch historian and economist Lodewij Petrram pointed out in his world’s first stock market book. He said: “This can be done by the book holder of this camera. It was led to the secondary market. Investors had the option Negotiate action with another person Instead of being blocked for many years of your money.
Not only for elite
The activities were carried out In three main locations: New Bridge, where merchants carried First transactions of actions in the world In the outdoors; Gezer’s Hendrick Stock Exchange, especially the market built for raw materials and activities; And DamDepending on the latest news and rumors it was negotiated outside the table.
OPV registration is open throughout August. Of the 1,143 initial investors, 3,674,945 were collected. One of them is the Nerdgen Cornellis, who worked as the maid for one of VOC owners. He invested 100 fluorins, and his salary beat up to 50 cents a day.
“This is very common and exceptional,” Dutch economist John Litton told Euronews. Although the movement of Cornelis is amazing in the present context, it is very common at the time. “Many activities were negotiated, in which they invested in it, ordinary houses, a carpenter or a farmer,” Von Jandon said.
He also explained that Leave ordinary people This is a condition imposed by Johan Von Oldenbornweld, the best pensioner of the Dutch Republic. It was already before companies that joined the VOC in a large company.
Waiting for Evath
Maronon Prak explained to the Eurneus that “the idea is to unite them and create a powerful company not only commercially but also militarily,” he explained to VOC as a deliberate power movement. “Netherlands tried Be independent from the king of SpainBecause everyone was managed by the same crown: Portugal, Spain and the Netherlands. So it was found A form against the Spanish Empire in Asia“, Explains. This long -term vision had its flaws The rising dissatisfaction among his shareholders.
In addition, another event pressed the company: The world’s first short seller. In 1608, Isaac Lu Maer, the former director of VOC, directed what is now considered The first “bear raid” in history. Lu Mayar and his union used the contracts to bet against the prices of VOC’s actions. These agreements allowed investors to admit, as in the current future Pre -sales priceWaiting to benefit when the actual price falls. Unlike what is happening today, no guarantee needed: the written contract was sufficient to close the treatment.
Payments please
This organized attack increased Frustration among investors Expecting income for many years, pressing VOC. Finally, on August 1609, the company He announced his first dividend. It is not money. “They used the surplus of the mashes, and it was difficult to sell in the market at that time,” Professor Van Janton said, pointing to how VOC distributed a spice from the caste tree cultivated in the Eastern Indies. “It was a kind of compromise solution,” he said.
Since 1623, VOC paid for every two yearsMore regularly, mostly from 1635, mostly annually or semi. In the 1630s and 1640s, the dividend was mostly in the nails, which accepted the shareholders. Since 1646, the dividend They were mainly in moneyFrom time to time with bond delivery. This maintained the confidence of the shareholders and allowed the prices to continue to rise.
VOC’s fall
Professor Brack described the fall of VOC at the end of the 18th century, attributed to the rise of the French and British colonial forces. “The Dutch Republic is already more expensive to keep their competitors in the Gulf,” the historian explains. He further says: “When it is clear that he will break, The Dutch government acquired all the activities. “
Pioneer in major financial discoveries, its creation, VO seated the foundations for current capital markets. Over the next two centuries, he was a prominent actor in world trade until he gradually collapsed. “This is (VOC’s Order) long of good success,” says Professor Van Janton. “The defeat at the end of the 18th century is associated with the rise of competitors,” he said.
