Abstract
These words by the German poet Christian Johann Heinrich Heine encapsulated the new financial connections of the Atlantic world during the nineteenth century. When Spain and Portugal opened the Atlantic world with their voyages of exploration and colonization, the conquistadors searched for wealth and brought masses of gold and silver from the colonies to the mother country. In the course of the colonial period, wealth tended to flow to Europe and states were reluctant to allow specie to accumulate in the Americas, even prohibiting bullion to go back into the colonies. Nevertheless, the early modern Atlantic world contained a web of financial connections. The financial ties that bound the various parts of the Atlantic region together continued after independence and into the nineteenth century.
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Notes
- 1.
Niall Ferguson, The House of Rothschild: The World’s Bankers, 1948–1999 (New York: Penguin Books, 1999), xxiv.
- 2.
Ibid., xxii–xxiii.
- 3.
Ferguson, House of Rothschild, xxiii–xxv; Philip Ziegler, The Sixth Great Power: A History of One of the Greatest of All Banking Families, the House of Barings, 1762–1929 (New York: Alfred A. Knopf, 1988), 96.
- 4.
Ferguson, House of Rothschild, xxviii–xxx.
- 5.
Ibid., 65, 68, 74–80, 100–105.
- 6.
Ziegler, Sixth Great Power, 101, 103, 127, 143.
- 7.
Ibid., 143–145, 155–156, 164.
- 8.
Ibid., 207–266.
- 9.
Jessica M. Lepler, The Many Panics of 1837: People, Politics, and the Creation of a Transatlantic Financial Crisis (New York: Cambridge University Press, 2013), 8–9, 11, 15, 17.
- 10.
Ibid., 21–22.
- 11.
Ibid., 29–30, 39–41.
- 12.
Ibid., 43, 46–47, 50–51, 55, 57.
- 13.
Ibid., 102–103, 110, 130.
- 14.
Ibid., 134–135, 172–173, 209.
- 15.
Jay Sexton, Debtor Diplomacy: Finance and American Foreign Relations in the Civil War Era, 1837–1873 (Oxford, UK: Clarendon Press, 2005), 12–13.
- 16.
Ibid., 56–57, 60, 70, 76–77.
- 17.
Ibid., 217–219.
- 18.
Peter J. Cain and Anthony G. Hopkins, British Imperialism: Innovation and Expansion, 1688–1914 (London, UK: Longman, 2000), 163; Irving Stone, “British Direct and Portfolio Investment in Latin America Before 1914,” Journal of Economic History 37 (September 1977), 692.
- 19.
Stone, “British Direct and Portfolio Investment,” 694–695, 702.
- 20.
Cain and Hopkins, British Imperialism, 250.
- 21.
Sidney Pollard, “Capital Exports, 1870–1914: Harmful or Beneficial?” Economic History Review 38 (November 1985), 492. Some of Pollards and Stone’s findings about the growth of British overseas investment are also confirmed by Cain and Hopkins, British Imperialism, 161, 207.
- 22.
Cain and Hopkins, British Imperialism, 322, 326, 328, 330.
Bibliography
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Ferguson, Niall. The House of Rothschild: The World’s Bankers, 1948–1999. New York: Penguin Books, 1999.
Lepler, Jessica M. The Many Panics of 1837: People, Politics, and the Creation of a Transatlantic Financial Crisis. New York: Cambridge University Press, 2013.
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Pollard, Sidney. “Capital Exports, 1870–1914: Harmful or Beneficial?” Economic History Review 38 (November 1985): 489–514.
Sexton, Jay. Debtor Diplomacy: Finance and American Foreign Relations in the Civil War Era, 1837–1873. Oxford, UK: Clarendon Press, 2005.
Stone, Irving. “British Direct and Portfolio Investment in Latin America Before 1914.” Journal of Economic History 37 (September 1977): 690–722.
Ziegler, Philip. The Sixth Great Power: A History of One of the Greatest of All Banking Families, the House of Barings, 1762–1929. New York: Alfred A. Knopf, 1988.
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Eichhorn, N. (2019). Atlantic Financial Entanglements. In: Atlantic History in the Nineteenth Century. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-27640-9_14
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