Opis: British Imperialism and the Making of Colonial Currency Systems 2016 - Wadan Narsey

Covering the colonial Empire (including West Indies, India, Singapore, West Africa and East Africa), this book is a detailed 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 I. Official internal correspondence is used to show that Britain typically acted against the advice of colonial commercial interests, colonial governments, and even officials in the Colonial Office, in order to replace international currencies (including gold and sterling itself), with localised silver currencies. The local currencies were backed by gold and sterling reserves in London, under the total control of the British Treasury and the Bank of England. In the process liquidity was provided to the London money market, and cheap finance to the British Government. This book provides a new perspective on theories of imperialism, colonial money and colonial underdevelopment, with possible geostrategic historical lessons for the US dollar and emerging global currencies such as Chinese renminbi and the Euro. 'Narsey offers us an original and pioneering investigation of how the British state regulated gold, silver and paper as media of exchange, debt, and savings in colonies, from simple management of coinage to the emergence of the currency board, to become a critical part and the heart of the British Empire. Appearing in the fascinating story are privateers in the eighteenth-century West Indies with gold standards based on the slave economy and contraband from the Spanish main, Keynes's work on the currency of the Raj, and twentieth-century debates about the colonial money supply and economic development. The common theme is that the economic interests of metropolitan Britain were almost always given primacy in the administration of colonial money. The book is a valuable addition to the economic history of both the British empire and of globalization.' - Professor Richard Drayton, Rhodes Professor of Imperial History, Kings College, London 'Based on extensive archival research, Professor Narsey shows that imperial priorities took precedence over native desires for economic development in dependent colonies throughout the history of the British Empire. This was an undesirable, but fully intended, consequence of imperial financial innovations in the British colonies, including the currency boards of Hong Kong and Singapore whose later success came only when British political control was lifted.' - Professor Larry Neal, Professor Emeritus of Economics, University of Illinois at Urbana-Champaign 'This is an important contribution to the growing body of knowledge on the history of colonial currency systems.' - Chibuike Uche, Senior Researcher, African Studies Centre, Leiden1) The accepted history of British colonial currency systems and the key questions.- 2) Currency policies for Britain (1698-1893): adoption of the Gold Standard and rejection of silver and bimetallism.- 3)Colonial currency policies (1600-1893): from international to localized currencies.- 4) India 1893-1912: conflicts and imperial resolution.- 5) Straits Settlements 1893 - 1912: the transition from India to West Africa.- 6) The establishment of the West African Currency Board: 1893-1912.- 7) Conflicts over the administration of colonial reserves in London (1927-1957), academic criticisms and imperial responses.- 8) Reassessment of the currency board debate.- 9) Currency and monetary policies in white settler colonies.- 10) Conclusion.

Szczegóły: British Imperialism and the Making of Colonial Currency Systems 2016 - Wadan Narsey

Tytuł: British Imperialism and the Making of Colonial Currency Systems 2016
Autor: Wadan Narsey
Wydawnictwo: Palgrave Macmillan
ISBN: 9781137553171
Rok wydania: 2016
Ilość stron: 368
Oprawa: Twarda
Waga: 0.58 kg

Recenzje: British Imperialism and the Making of Colonial Currency Systems 2016 - Wadan Narsey