The European economic centre shifted from the Mediterranean to Western Europe. The city of Antwerp, part of the Duchy of Brabant, became "the centre of the "entire" international economy", and the richest city in Europe at this time. Centred in Antwerp first and then in Amsterdam, "Dutch Golden Age" was tightly linked to the Age of Discovery. Francesco Guicciardini, a Venetian envoy, stated that hundreds of ships would pass Antwerp in a day, and 2,000 carts entered the city each week. Portuguese ships laden with pepper and cinnamon would unload their cargo. With many foreign merchants resident in the city and governed by an oligarchy of banker-aristocrats forbidden to engage in trade, the economy of Antwerp was foreigner-controlled, which made the city very international, with merchants and traders from Venice, Ragusa, Spain and Portugal and a policy of toleration, which attracted a large Orthodox Jewish community. The city experienced three booms during its golden age, the first based on the pepper market, a second launched by New World silver coming from Seville (ending with the bankruptcy of Spain in 1557), and a third boom, after the Treaty of Cateau-Cambresis, in 1559, based on the textiles industry.