Organizing is to the community what spiritual practice is to the individual. – Adrienne Maree Brown
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"Happy 400th birthday to the world’s oldest bond"
Four hundred years ago — on New Year's Day in 1624 — drifting ice on the river Lek in the Netherlands smashed up a dike outside Utrecht. This was a pretty big problem in a country that is roughly one-third below sea level.
Soon, the region was flooded, with even Amsterdam threatened by the water. The locals eventually managed to staunch the flood, but they still needed to do a full, durable rebuild — which would be extremely expensive.
Fortunately, the Dutch were brilliant, sophisticated financial pioneers, and had developed the era's most vibrant bond market. The local water authority — called Hoogheemraadschap Lekdijk Bovendams — swiftly sold over 50 bonds that raised about 23,000 Carolus guilders to finance the repairs.
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Automated Archives for December, 23rd 2024
This post was automatically generated.
Articles To Read
The following are articles that I saved today. Substance and quality will vary drastically.
- The Rich History of Ham Radio Culture
- The Story of John DeLorean’s Snowcat Factory Is Even More Bizarre Than the DMC-12
Chess For the Day
Record: 1-0-0
Net Elo Change: +6
Games Played
Blog Posts On This Day
- December 23, 2023 (11 posts)
- December 23, 2022 (11 posts)
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