A Financial History of Western Europe by Charles P. Kindleberger

By Charles P. Kindleberger

Publish 12 months note: First released in 1984 via OUP

This is the 1st background of finance - greatly outlined to incorporate cash, banking, capital markets, private and non-private finance, foreign transfers and so forth. - that covers Western Europe (with an occasional look on the western hemisphere) and part a millennium.

Charles Kindleberger highlights the advance of monetary associations to satisfy rising wishes, and the similarities and contrasts within the dealing with of monetary difficulties akin to moving assets from one nation to a different, stimulating funding, or financing warfare and cleansing up the ensuing financial mess. the 1st half the ebook covers funds, banking and finance from 1450 to 1913; the second one offers in significantly finer element with the 20 th century.

This significant paintings casts present concerns in old point of view and throws gentle at the interesting, and much from orderly, evolution of economic associations and the administration of economic difficulties. complete, severe and cosmopolitan, this booklet is either a superb paintings of reference and crucial studying for all these focused on the examine and perform of finance, be they fiscal historians, monetary specialists, scholarly bankers or scholars of cash and banking.

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Extra resources for A Financial History of Western Europe

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It took two forms. The first was a deliberate attempt by sovereigns to acquire resources, generally for war, by issuing more units of money for the same amount of metal brought to the mint. This happened once in English history, under Henry VIII during the French -Spanish Wars. The plunder of the monasteries was insufficient for the satisfaction of the Tudor appetite, and between 1526 and 1546 Henry raised the prices of gold and silver in a series of uneven steps from £24 per troy pound for gold to £30 and £2 to £2 8s for silver (Gould, 1970, pp.

Genoans observed the success of the Portuguese and copied it. By the end of the century Columbus had set off on his voyage into the unknown Atlantic. , p. 63). Small deposits of gold were found in the Caribbean and, on later voyages, in Brazil. The more impressive result was the discovery of rich silver deposits, first in Peru and then in Mexico. From about 1560, silver took the spotlight away from gold. The major mine in Peru, Potosi, was discovered in 1545,4,000 m. high in the Andes, remote from both oceans.

Visa II in France. Bubble Act in England, formation of the Royal Exchange and London Assurance companies Visa II in France Jacobite invasion threat, financial crisis in England Sir Henry Pelham's debt conversion, including consolidated (irredeemable) debts or con sols International financial crisis at end of Seven Years' War Anglo-Dutch financial crisis One-fifth of French government debt repudiated by Abbe Terray Turgot's fiscal reforms abort Dutch lending switches from Britain to Necker's (multiple) life annuities Financial crisis Financial reforms by French government Napoleon levying indemnities, the British providing subsidies London-Hamburg crisis Blockade crisis Financial crisis in London French indemnity recycled by Baring loans War-loan conversion in England Country banks, insurance companies and South American loans-financial crisis 1 billion French franc indemnity to emigres British indemnity to slave owners Anglo-American financial crisis Railway mania and wheat crisis British government guarantees Indian colonial issues 14 1856 1857 1856, 1863 1863, 1867 1866 1869 1871-2 1873 1878 1882 1887 1888 1890 1893 1904 1907 1914 1920 1924 1929 1930 1931 1932 1942 1946 1948 1957 A Financial History of Western Europe French government guarantees interest on railroad bonds Anglo-American, Scandinavian and Hamburg financial crises Incorporation generalized in Britain Incorporation adopted in France Overend, Gurney & Company crisis in England; financial crises in Italy, Spain and Germany Incorporation adopted Germany (North German Confederation) Franco-Prussian indemnity, recycled by Thiers rentes Financial crisis involving Germany, Austria and the United States Collapse of the Egyptian debt Financial crisis in France Lombardverbot issued; financial war between Germany and Russia; France recycles Russian borrowings from Germany Collapse of the Comptoir d'Escompte and the copper ring Baring crisis over Argentine land bonds Panama scandal in France J.

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