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=== Dutch Republic === In the early 1600s, the Dutch, while continuing to fight the [[Eighty Years' War]] (1566/68-1648), with the Habsburgs, also began to carry out long-distance exploration by sea. The Dutch innovation in the trading of shares in a [[joint-stock company]] allowed them to finance expeditions with stock subscriptions sold in the [[United Provinces of the Netherlands]] and in London. They founded colonies in North America, India, and the East Indies. They also enjoyed continued success in [[privateer]]ing – in 1628 Admiral [[Piet Heyn]] became the only commander to successfully capture a large [[Spanish treasure fleet]]. With the many long voyages by Dutch [[East Indiamen]] cargo vessels, their society built an officer class and institutional knowledge that would later be replicated in England, principally by the British [[East India Company]]. By the middle of the 17th century, the Dutch joined the [[Kingdom of Portugal|Portuguese]] and their [[Portuguese Empire]] as the main European traders in [[Asia]]. This coincided with the enormous growth of the Dutch merchant fleet, made possible by the cheap mass production of the [[fluyt]] sailing ship types. Soon the Dutch had one of Europe's largest [[Merchant navy|mercantile fleets]], with more merchant ships than all other nations combined, and possessed a dominant position in the [[Baltic maritime trade (c. 1400–1800)|Baltic maritime trade]] of 1400-1800 in the [[Baltic Sea]] to the northeast. [[File:Amboina. 17th century print, most likely English..jpg|thumb|Dutch factory at [[Ambon Island]], early to mid-17th century]] In 1648 the Dutch concluded the [[Peace of Münster]] with the Kingdom of Spain. Due to the division of powers in the [[Dutch Republic]], the army and navy were the main base of power of the [[Stadtholder]], although the budget allocated to them was set by the [[States General of the Netherlands|States General]]. With the arrival of peace, the States General decided to decommission most of the Dutch military. This led to conflict between the major Dutch cities and the new Stadtholder, [[William II of Orange]], bringing the internal controversies in the Republic to the brink of [[civil war]]. The Stadtholder's unexpected death in 1650 only added to the political tensions.
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