Since in 1579 they had shaken from Spanish domain, the Dutch had been at the forefront of European capitalism. They had created a public debt system that allowed the government to take loans from their citizens to a low interest rate. They had founded an institution similar to a modern central bank. His currency was solid. Its tax system based on internal taxes was simple and effective.
After gaining independence from Spanish rule in 1579, the Dutch emerged as pioneers of European capitalism. They established a public debt system that enabled the government to borrow from its citizens at low interest rates, facilitating economic growth and investment. This system marked a significant shift in financial practices at the time.
The Dutch also created an institution akin to a modern central bank, which bolstered the stability of their currency. Their tax system, focused on internal taxes, was both straightforward and efficient, contributing to the financial success and prosperity of the nation. In this way, the Dutch set foundational practices for future economic systems in Europe.
