| Description |
1 online resource |
| Contents |
Cover -- Accounting for the Fall of Silver: Hedging Currency Risk in Long-Distance Trade with Asia, 1870-1913 -- Copyright -- Dedication -- Preface and Acknowledgements -- Contents -- Nomenclature, Conventions, and Currency -- 1. A Note on Sources and Conventions -- 2. Currencies -- 3. The Chinese Monetary System -- List of Figures and Tables -- Epigraph -- Chapter 1: Introduction: Liquidity, Hard and Soft Currencies, and Trade Finance -- 1. Introduction -- 2. Center and Periphery in the Literature -- 3. The Geography of the International Monetary System, 1890-1910 |
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4. The Peripheral Predicament -- 5. The Bell Jar Revisited -- 6. The 'International Banks' -- 7. Why This Book? -- 8. Structure of This Book -- Appendix 1 -- Appendix 2 -- Chapter 2: Silver Risk, Silver Exports, and Sovereign Debt in the Nineteenth Century: A Brief Reappraisal -- 1. Introduction -- 2. The Long Bimetallist Swan Song: An East-West Connect -- 3. Gold, Silver, and the Periphery -- 4. 'Where Ought India to Borrow?' -- 5. Chinese Borrowing in the 1890s -- Chapter 3: Trade Finance in the Late Nineteenth Century: Accounting for Silver Risk -- 1. Introduction |
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2. The Early Days: London as the Pivot of All International Trade Finance -- 3. 1876 and Beyond -- 4. The Rise of 'Interest Bills' ('Advance Bills') -- 5. Interest Bills and the Debate on 'Real Bills' vs. 'Finance Bills': A Nineteenth-century Carry Trade -- Chapter 4: 'On an Even Keel': Hedging Exchange Rate Risk on the Branch Network Level -- 1. Introduction -- 2. From the Fall of the Oriental Bank to Hongkong and Shanghai Banking Corporation Losses -- 3. Hedging Exchange Risk: From Unit of Account to the 'Even Keel' -- 4. Specie Points, Exchange Rates, the Even Keel, and Managerial Success |
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2. YSB Semestrial Reports -- 3. Interpretative Hurdles -- 4. The Flow-of-funds among Branches: Construction of the Dataset -- 5. A Methodological Issue: Amounts of Bills Sent or Amounts of Funds being Transferred? -- 6. Fund-matching and Exchange Position -- 7. The Visual Presentation of Branch Relationships on the Cross-sectional Level: 'Multi-dimensional Scaling' vs. 'Force-directed Drawing' -- Appendix 2: Exchange Banking: A Concise Japanese-English Glossary -- References -- 1. Archives and Databases -- 2. Books and journal articles -- Index |
| Summary |
Michael Schiltz analyses the efforts by nineteenth century banking to mitigate the effects of the depreciation of silver. He shows that strategies for hedging exchange rate risk were created earlier than traditionally thought, and explores the relationship between Great-Britain and its colonies in Asia, and the rise of Japan as a financial power |
| Bibliography |
Includes bibliographical references and index |
| Notes |
Online resource; title from digital title page (viewed on December 22, 2020) |
| Subject |
Money -- History -- 19th century
|
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Silver -- History -- 19th century
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Money
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Silver
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| Genre/Form |
History
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| Form |
Electronic book
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| ISBN |
9780191897405 |
|
019189740X |
|
9780192634160 |
|
019263416X |
|
9780192634177 |
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0192634178 |
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