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Author Davies, Glyn
Title History of Money
Imprint Cardiff : University of Wales Press, 2005
©2005
book jacket
Edition 3rd ed
Descript 1 online resource (739 pages)
text txt rdacontent
computer c rdamedia
online resource cr rdacarrier
Note Intro -- Back Cover -- Foreword by George Thomas, The Right Honourable Viscount Tonypandy -- Dedication -- Acknowledgements -- Preface to the third edition -- 1 THE NATURE AND ORIGINS OF MONEY AND BARTER -- The importance of money -- Sovereignty of monetary policy -- Unprecedented inflation of population -- Barter: as old as the hills -- Persistence of gift exchange -- Money: barter's disputed paternity -- Modern barter and countertrading -- Modern retail barter -- Primitive money: definitions and early development -- Economic origins and functions -- The quality-to-quantity pendulum: a metatheory of money -- 2 FROM PRIMITIVE AND ANCIENT MONEY TO THE INVENTION OF COINAGE, 3000-600 BC -- Pre-metallic money -- The ubiquitous cowrie -- Fijian whales' teeth and Yap stones -- Wampum: the favourite American-Indian money -- Cattle: man's first working-capital asset -- Pre-coinage metallic money -- Money and banking in Mesopotamia -- Girobanking in early Egypt -- Coin and cash in early China -- Coinage and the change from primitive to modern economies -- The invention of coinage in Lydia and Ionian Greece -- 3 THE DEVELOPMENT OF GREEK AND ROMAN MONEY, 600 BC-AD 400 -- The widening circulation of coins -- Laurion silver and Athenian coinage -- Greek and metic private bankers -- The Attic money standard -- Banking in Delos -- Macedonian money and hegemony -- The financial consequences of Alexander the Great -- Money and the rise of Rome -- Roman finance, Augustus to Aurelian, 14 BC-AD 275 -- Diocletian and the world's first budget, 284-305 -- Finance from Constantine to the Fall of Rome -- The nature of Graeco-Roman monetary expansion -- 4 THE PENNY AND THE POUND IN MEDIEVALEUROPEAN MONEY, 410-1485 -- Early Celtic coinage -- Money in the Dark Ages: its disappearance and re-emergence -- The Canterbury, Sutton Hoo and Crondall finds
From sceattas and stycas to Offa's silver penny -- The Vikings and Anglo-Saxon recoinage cycles, 789-978 -- Danegeld and heregeld, 978-1066 -- The Norman Conquest and the Domesday Survey, 1066-1087 -- The pound sterling to 1272 -- Touchstones and trials of the Pyx -- The Treasury and the tally -- The Crusades: financial and fiscal effects -- The Black Death and the Hundred Years War -- Poll taxes and the Peasants' Revolt -- Money and credit at the end of the Middle Ages -- 5 THE EXPANSION OF TRADE AND FINANCE,1485-1640 -- What was new in the new era? -- Printing: a new alternative to minting -- The rise and fall of the world's first paper money -- Bullion's dearth and plenty -- Potosi and the silver flood -- Henry VII: fiscal strength and sound money, 1485-1509 -- The dissolution of the monasteries -- The Great Debasement -- Recoinage and after: Gresham's Law in Action, 1560-1640 -- The so-called price revolution of 1540-1640 -- Usury: a just price for money -- Bullionism and the quantity theory of money -- Banking still foreign to Britain? -- 6 THE BIRTH AND EARLY GROWTH OF BRITISHBANKING, 1640-1789 -- Bank money supply first begins to exceed coinage -- From the seizure of the mint to its mechanization, 1640-1672 -- From the great recoinage to the death of Newton, 1696-1727 -- The rise of the goldsmith-banker, 1633-1672 -- Tally-money and the Stop of the Exchequer -- Foundation and early years of the Bank of England -- The national debt and the South Sea Bubble -- Financial consequences of the Bubble Act -- Financial developments in Scotland, 1695-1789 -- The money supply and the constitution -- 7 THE ASCENDANCY OF STERLING, 1789-1914 -- Gold versus paper . . . finding a successful compromise -- Country banking and the industrial revolution to 1826 -- Currency, the bullionists and the inconvertible pound,1783-1826
The Bank of England and the joint-stock banks, 1826-1850 -- The Banking Acts of 1826 -- The Bank Charter Act 1833 -- Currency School versus Banking School -- The Bank Charter Act of 1844: rules plus discretion -- Amalgamation, limited liability and the end of unit banking -- The rise of working-class financial institutions -- Friendly societies, unions, co-operatives and collecting societies -- The building societies -- The savings banks: TSB and POSB -- The discount houses, the money market and the bill on London -- The merchant banks, the capital market and overseas investment -- The final triumph of the full gold standard, 1850-1914 -- Gold reserves, tallies and the constitution -- 8 BRITISH MONETARY DEVELOPMENT IN THETWENTIETH CENTURY -- Introduction: a century of extremes -- Financing the First World War, 1914-1918 -- The abortive struggle for a new gold standard, 1918-1931 -- Cheap money in recovery, war and reconstruction, 1931-1951 -- Inflation and the integration of an expanding monetary system,1951-1990 -- A general perspective on unprecedented inflation, 1934-1990 -- Keynesian 'ratchets' give a permanent lift to inflation -- Filling the financial gaps -- Stronger competition and weaker credit control -- The American-led invasion and the Eurocurrency markets in London -- The monetarist experiment, 1973-1990 -- The secondary banking crisis: causes and consequences -- Supervising the financial system -- Thatcher and the medium-term financial strategy -- EMU: the end of the pound sterling? -- 9 AMERICAN MONETARY DEVELOPMENT SINCE 1700 -- Introduction: the economic basis of the dollar -- Colonial money: the swing from dearth to excess, 1700-1775 -- The official dollar and the growth of banking up to the Civil War, 1775-1861 -- 'Continental' debauchery -- The constitution and the currency -- The national debt and the bank wars
A banking free-for-all, 1833-1861 -- From the Civil War to the founding of the 'Fed', 1861-1913 -- Contrasts in financing the Civil War -- Establishing the national financial framework -- Bimetallism's final fling -- From gold standard to central bank(s), 1900-1913 -- The banks through boom and slump, 1914-1944 -- The 'Fed' finds its feet, 1914-1928 -- Feet of clay, 1928-1933 -- Banking reformed and resilient, 1933-1944 -- Bretton Woods: vision and realization, 1944-1991 -- American banks abroad -- From accord to deregulation, 1951-1980 -- Hazardous deposit insurance for thrifts, banks . . . and taxpayers -- From unit banking . . . to balkanized banking -- Summary and conclusion: from beads to banks without barriers -- 10 ASPECTS OF MONETARY DEVELOPMENT IN EUROPEAND JAPAN -- Introduction: banking expertise shifts northward -- The rise of Dutch finance -- The importance of the Bank of Amsterdam -- The Dutch tulip mania, 1634-1637 -- Other early public banks -- France's hesitant banking progress -- German monetary development: from insignificance to cornerstone of the EMS -- The monetary development of Japan since 1868 -- Introduction: the significance of banks in Japanese development -- Westernization and adaption, 1868-1918 -- Depression, recovery and disaster, 1918-1948 -- Resurgence and financial supremacy, 1948-1990 -- Stagnation and the limitations of monetary policy, 1990-2002 -- 11 THIRD WORLD MONEY AND DEBT IN THE TWENTIETH CENTURY -- Introduction: Third World poverty in perspective -- Stages in the drive for financial independence -- Stage 1: Laissez-faire and the Currency Board System,c.1880-1931 -- Stage 2: The sterling area and the sterling balances,1931-1951 -- Stage 3: Independence, planning euphoria and bankingmania, 1951-1973 -- Stage 4: Market realism and financial deepening, 1973-1993 -- The Nigerian experience
Impact of the Shaw-McKinnon thesis -- Contrasts in financial deepening -- Third World debt and development: evolution of the crisis -- Conclusion: reanchoring the runaway currencies -- 12 GLOBAL MONEY IN HISTORICAL PERSPECTIVE -- Long-term swings in the quality/quantity pendulum -- The military and developmental money-ratchets -- Free trade in money in a global, cashless society? -- Independent multi-state central banking -- Conclusion: 'Money is coined liberty' -- 13 FURTHER TOWARDS A GLOBAL CURRENCY -- The epoch-making euro -- More coins in an increasingly cashless society -- The paradox of coin: rising production - falling significance -- Speculation and the Tobin Tax -- The end of inflation? -- Bibliography -- Index
An account of the central importance of money in the ordinary business of the life of different people throughout the ages from ancient times to the present day. It includes the Barings crisis and the report by the Bank of England on Barings Bank; information on the state of Japanese banking; and, the changes in the financial scene in the US
Description based on publisher supplied metadata and other sources
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2020. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries
Link Print version: Davies, Glyn History of Money Cardiff : University of Wales Press,c2005 9780708317174
Subject Money.;Money -- History.;Coinage.;Coinage -- History
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