After a prolonged period of decline during the 18th century, Amsterdam’s economy starts to recover from the middle of the 19th century onwards, helped by the completion of the North Sea Canal in 1870. The port grows quickly, as does the banking industry, which has always had a strong presence in Amsterdam. WWI is a temporary set-back, but when international trade bounces back after the war, Amsterdam’s banking industry is quick to benefit. It isn’t long before cars appear on the streets of Amsterdam, adding to the bustle of bicycles, trams, horse-drawn carts and handcarts.

Meanwhile, the influence of the US on the world economy is increasing. The growth of the industrial sector attracts many people to the city. A decreasing mortality rate and a rising birth rate make it necessary to expand the city yet again. Around 1921, Amsterdam expands its territory by no less than 75% through the ‘annexation’ of neighbouring municipalities. The economic boom period comes to an abrupt end with the stock market crash of 1929.

It is against this backdrop that the Faculty of Commerce is founded at the University of Amsterdam in 1922.

1632

Athenaeum Illustre

As the city of Leiden had been granted the exclusive right to establish a university in the region of Holland, Amsterdam is only permitted to open an ‘Illustrious School’, which it does in 1632. This forerunner of the University of Amsterdam is, depending on the calibre of the professors, of an equivalent level to Leiden but is not allowed to confer doctoral degrees.

In those days, universities usually had four faculties: law, medicine, theology and philosophy. ‘Philosophy’ included, in addition to actual philosophy, the natural sciences, geography, literature and history.

Caspar Barlaeus

On 9 January 1632, Caspar Barlaeus delivers his inaugural address in the Agnietenkapel on the occasion of the opening of the Athenaeum Illustre. In a room full of affluent merchants, dressed in austere black to express sobriety and solemnity, he emphasises the importance of science (which encompassed philosophy and theology) and knowledge.

Mercator sapiens

In his inaugural lecture entitled ‘Mercator sapiens’ (the Wise merchant), Barlaeus argues that a merchant would be wise to acquire knowledge of sea routes, other countries, their populations and products, and their languages and customs. This practical knowledge will benefit trade.

1876

The run-up

The discussions on the founding of a Faculty of Commerce starts after the Athenaeum Illustre is legally changed into the University of Amsterdam in 1876, the year in which Amsterdam receives the right to establish its own university and confer doctorates. This ‘University of Amsterdam’ opens its doors in October 1877.