When did the Commercial Revolution end?
Commercial Revolution
The Commercial Revolution consisted in the creation of a European economy based on trade, which began in the 11th century and lasted until it was succeeded by the Industrial Revolution in the mid-18th century. Beginning with the Crusades, Europeans rediscovered spices, silks, and other commodities rare in Europe. This development created a new desire for trade, and trade expanded in the second half of the Middle Ages. Newly forming European states, through voyages of discovery, were looking for alternative trade routes in the 15th and 16th centuries, which allowed the European powers to build vast, new international trade networks. Nations also sought new sources of wealth and practiced mercantilism and colonialism. The Commercial Revolution is marked by an increase in general commerce, and in the growth of financial services such as banking, insurance, and investing.
Canal Mania
The American War of Independence ended in 1783. A long run of good harvests resulted in an increase in disposable income and an increase in the number of people looking to invest capital for profit with little personal interest in the business. This resulted in an increase in less cautious speculation.