This study examines the role of cowrie-shell money in West African trade, particularly the slave trade. The shells were carried from the Maldives to the Mediterranean by Arab traders for further transport across the Sahara, and to Europe by competing Portuguese, Dutch, English and French traders for onward transport to the West African coast. In Africa they served to purchase the slaves exported to the New World, as well as other less sinister exports. Over a large part of West Africa they became the regular market currency, but were severely devalued by the importation of thousands of tons of the cheaper Zanzibar cowries. Colonial governments disliked cowries because of the inflation and encouraged their replacement by low-value coins. They disappeared almost totally, to re-appear during the depression of the 1930s, and have been found occasionally in the markets of remote frontier districts, avoiding exchange and currency control problems.
This part of the paper deals with the cowrie shells and their import into West Africa, and the cost of their transport in West Africa; with the cowrie currency area and its changes; with the oddities of cowrie arithmetic; and with the final decline of the cowrie currency. A second part will deal with the value of cowries at various times and places, and with cowrie economics.
This second part of a study of cowrie currencies in West Africa deals with the value of cowries from the fourteenth century in various parts of West Africa, in terms of gold and silver, and currencies based on these, and also in terms of commodities. An attempt has been made to use this information to throw light on such problems as the effects of the slave-trade on the economy of West Africa, and also on the extent of the internal exchange economy before the beginning of the colonial period.
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