Amsterdam officially joined the revolt against Spanish rule in 1578. The city council, which was aligned with Catholic Spain, was replaced by a Protestant council. This was an important event in the city’s history. Another milestone was the fall of Antwerp in 1585. The blockade of the Scheldt that ensued allowed Amsterdam to become the most significant market in the world. This marked the beginning of Amsterdam’s Golden Age. Within the next several decades, the city had amassed an incredible amount of wealth. It became a colonial empire, and exercised political influence over most of Europe. The city’s dockside warehouses, which are a landmark today, were brimming with goods from all parts of the globe.
The city then entered its first stage of expansion. The first project aimed to improve the fortifications. The Swanenburg bulwark was designed, and new defensive walls were built. After Antwerp fell, there was an influx of refugees, and many of them settled outside the walls. Suburbs began to develop, and so further expansion was necessary. The first stage of the famous canal ring was completed in 1613, and the ring itself was completed in 1663.
The Golden Age was in full swing. The rate of immigration skyrocketed, as did the corn trade turnover. Amsterdam became the first modern urban-industrial area the world had ever seen. The salary rates in the city were the highest in northern Europe. Businessmen began to invest in labor-saving technology like windmills. The Dutch East India Company was founded in 1602, and Amsterdam held 50% of this company, which was the first limited-liability company in the world. The Exchange Bank was established in 1609, and the Commodity Exchange in 1613. These institutions made an important contribution to the commercial success of the city.
By the turn of the 17th Century, Amsterdam was the largest, the most powerful and the wealthiest city of the Dutch Republic. It had control of the Republic’s foreign and internal affairs. The city council was fully autonomous. As a result, the city came to enjoy unprecedented freedom of trade, thought, and religion.
Due to the large immigrant population, the city acquired a distinctly cosmopolitan character. Everyone was granted freedom of religion, even Roman Catholics in due course. This freedom attracted many famous scholars and philosophers to the city, including Rene Descartes.
Amsterdam was ruled by an oligarchy which had influence throughout Holland. Unofficially, it ruled the entire Republic. William III of the House of Orange was displeased with this situation. The conflicts thereof escalated in the 17th Century, resulting in a war which rendered the country helpless in the face of foreign threats.
The English Wars were fought mainly at sea, with a detrimental effect on trade. France invaded Holland in 1672. Amsterdam panicked, and government stock and the shares of the Dutch East India Company took a plunge. This marked the end of Amsterdam’s Golden Age.
The legacy of this period continues to be felt. The center of Amsterdam acquired its characteristic shape during the Golden Age. The urban expansions were so well-planned that no further expansion was necessary until the 19th Century. The canal ring was completed in a short time. Typified by straight canals and compact districts, the city’s development was fully in line with the Enlightenment ideals of the time. The core of the historical district developed during the Golden Age. Examples include the Town Hall (today the Royal Palace), the Zuiderkerk and the Noorderkerk.