The 17th century was Amsterdam's Golden Age. Ships from the city sailed to North America, Indonesia, Brazil and Africa and formed the basis of a worldwide trading network. Amsterdam's merchants financed expeditions to the four corners of the world and they acquired the overseas possessions which formed the seeds of the later Dutch colonies. Rembrandt painted in this century,and the city expanded greatly around its canals during this time. Amsterdam was the most important point for the transshipment of goods in Europe and it was the leading financial centre of the world (a position later taken over by London).
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