British Imperialism And The Making Of Colonial Currency Systems (palgrave Studies In The History Of Finance)
by Wadan Narsey /
2016 / English / PDF
2.5 MB Download
Based on archival research covering more than two centuries and
most former British colonies (West Indies, India, Singapore,
Malaya, West Africa and East Africa), this book is a revisionist
history of the British imperial manipulations of colonial currency
systems to facilitate the rise of sterling to world supremacy via
the gold standard, and to slow its eventual decline after World War
II.
Based on archival research covering more than two centuries and
most former British colonies (West Indies, India, Singapore,
Malaya, West Africa and East Africa), this book is a revisionist
history of the British imperial manipulations of colonial currency
systems to facilitate the rise of sterling to world supremacy via
the gold standard, and to slow its eventual decline after World War
II.
Britain forcibly replaced international currencies, including gold
and sterling itself, by new localised silver currencies, backed by
gold and sterling reserves in London, under the total control of
the British Treasury and the powerful influence of the Bank of
England.
Britain forcibly replaced international currencies, including gold
and sterling itself, by new localised silver currencies, backed by
gold and sterling reserves in London, under the total control of
the British Treasury and the powerful influence of the Bank of
England.
Ignoring colonial needs, imperial decision-makers continuously
over-ruled colonial governments, commercial interest in colonies
(British and local), Colonial Office and the Crown Agents, to
support liquidity in the London Money Market, convertibility of
sterling, export of British capital, and cheap readily available
finance for the British Government. Academia, including Keynes and
institutions like the London School of Economics, are shown to have
played supporting roles.
Ignoring colonial needs, imperial decision-makers continuously
over-ruled colonial governments, commercial interest in colonies
(British and local), Colonial Office and the Crown Agents, to
support liquidity in the London Money Market, convertibility of
sterling, export of British capital, and cheap readily available
finance for the British Government. Academia, including Keynes and
institutions like the London School of Economics, are shown to have
played supporting roles.
This book is valuable reading for academics and students interested
in theories of imperialism, colonial underdevelopment, money
(national and international) and related topics such as currency
areas and exchange rates. Its comprehensive index links monetary
concepts to actual events in the British Empire, with pointers to
new research areas.
This book is valuable reading for academics and students interested
in theories of imperialism, colonial underdevelopment, money
(national and international) and related topics such as currency
areas and exchange rates. Its comprehensive index links monetary
concepts to actual events in the British Empire, with pointers to
new research areas.
This account of the rise and fall of sterling as a world currency
may have lessons for the future trajectories of the US dollar,
Euro, Chinese renminbi and the Indian rupee.
This account of the rise and fall of sterling as a world currency
may have lessons for the future trajectories of the US dollar,
Euro, Chinese renminbi and the Indian rupee.