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British imperialism and the making of colonial currency systems

Record Type:	Language materials, printed : Monograph/item
Title/Author:	British imperialism and the making of colonial currency systems/ by Wadan Narsey.
Author:	Narsey, Wadan.
Published:	London :Palgrave Macmillan UK : : 2016.,
Description:	xv, 356 p. :digital ; : 23 cm.;
Contained By:	Springer eBooks
Subject:	Money - Colonies - Great Britain -
Subject:	Great Britain - Politics and government - 1997- -
Online resource:	http://dx.doi.org/10.1057/9781137553188
ISBN:	9781137553188

British imperialism and the making of colonial currency systems
Narsey, Wadan.

British imperialism and the making of colonial currency systems[electronic resource] /by Wadan Narsey. - London :Palgrave Macmillan UK :2016. - xv, 356 p. :digital ;23 cm. - Palgrave studies in the history of finance. - Palgrave studies in the history of finance..

1) 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.

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.

ISBN: 9781137553188

Standard No.: 10.1057/9781137553188doiSubjects--Topical Terms:

1111387
Money
--Colonies--Great BritainSubjects--Geographical Terms:

556459
Great Britain
--Politics and government--1997-

LC Class. No.: HG935 / .N37 2016

Dewey Class. No.: 332.49171241

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