Capitals of Capital

Abstract

International financial centres have come to represent a major economic stake. Yet no historical study has been devoted to them. Professor Cassis, a leading financial historian, attempts to fill this gap by providing a comparative history of the most important centres that constitute the capitals of capital - New York, London, Frankfurt, Paris, Zurich, Amsterdam, Tokyo, Hong Kong, Singapore - from the beginning of the industrial age up to the present. The book has been conceived as a reflection on the dynamics of the rise and decline of international financial centres, setting them in their economic, political, social, and cultural context. While rooted in a strong and lively historical narrative, it draws on the concepts of financial economics in its analysis of events. It should widely appeal to business and finance professionals as well as to scholars and students in financial and economic history.

Family banking in an era of crisis: N.M. Rothschild & Sons and business in central and eastern Europe between the World Wars

“…This bank, second only in size to J.P. Morgan, was highly influential as an intermediary in such international issues. 35 But in May 1924, Kuhn, Loeb confirmed that they agreed with J.P. Morgan: in the absence of governmental guarantees and the disinclination of the American public, the prospects for a loan were not favourable. The only possibility to enlist American co-operation was to base an appeal on 'grounds of needed helpfulness' and combine the efforts of the leading US houses.…”

Too small to be of interest, too large to grasp? Histories of the Luxembourg financial centre

“…To this end, we first selected three handbooks on banking and financial history based on the breadth of their scope, the recognized expertise of their authors, and recent publication date (in an effort to provide an up-to-date picture). The books in question are: The Oxford Handbook of Banking and Financial History, 12 Capitals of Capital 13 and Centres and Peripheries in Banking. 14 A simple query for the search term 'Luxembourg' in the bodies of these texts (i.e.…”

Hidden in plain sight: Correspondent banking in the 1930s

“…In fact, most bank failures were resolved quickly by government action. 29 While the number of banks fell by around a third, 90 per cent of this reduction (of mainly small unit banks) was located in the US. Moreover, the number of banks insured with the Federal Reserve Board system had risen significantly by 1935.…”