Silver Throughout History

"This is the story of silver's transformation from soft money during the nineteenth century to hard asset today, and how manipulations of the white metal by American president Franklin D. Roosevelt during the 1930s and by the richest man in the world, Texas oil baron Nelson Bunker Hunt, during the 1970s altered the course of American and world history. FDR pumped up the price of silver to help jump start the U.S. economy during the Great Depression, but this move weakened China, which was then on the silver standard, and facilitated Japan's rise to power before World War II. Bunker Hunt went on a silver-buying spree during the 1970s to protect himself against inflation and triggered a financial crisis that left him bankrupt. Silver has been the preferred shelter against government defaults, political instability, and inflation for most people in the world because it is cheaper than gold. The white metal has been the place to hide when conventional investments sour, but it has also seduced sophisticated investors throughout the ages like a siren. This book explains how powerful figures, up to and including Warren Buffett, have come under silver's thrall, and how its history guides economic and political decisions in the twenty-first century"--Publisher's description

In the late nineteenth century, as much of the world adopted some variant of the gold standard, China remained the most populous country still using silver. Yet China had no unified national currency; there was not one monetary standard but many. Silver coins circulated alongside chunks of silver and every transaction became an "encounter of wits." China and the End of Global Silver, 1873–1937 focuses on how officials, policy makers, bankers, merchants, academics, and journalists in China and around the world answered a simple question: how should China change its monetary system? Far from a narrow, technical issue, Chinese monetary reform is a dramatic story full of political revolutions, economic depressions, chance, and contingency. As different governments in China attempted to create a unified monetary standard in the late nineteenth and early twentieth century, the United States, England, and Japan tried to shape the direction of Chinese monetary reform for their own benefit. Austin Dean argues convincingly that the Silver Era in world history ended owing to the interaction of imperial competition in East Asia and the state-building projects of different governments in China. When the Nationalist government of China went off the silver standard in 1935, it marked a key moment not just in Chinese history but in world history.

A thousand-year history of how China’s obsession with silver influenced the country’s financial well-being, global standing, and political stability This revelatory account of the ways silver shaped Chinese history shows how an obsession with “white metal” held China back from financial modernization. First used as currency during the Song dynasty in around 900 CE, silver gradually became central to China’s economic framework and was officially monetized in the middle of the Ming dynasty during the sixteenth century. However, due to the early adoption of paper money in China, silver was not formed into coins but became a cumbersome “weighing currency,” for which ingots had to be constantly examined for weight and purity—an unwieldy practice that lasted for centuries. While China’s interest in silver spurred new avenues of trade and helped increase the country’s global economic footprint, Jin Xu argues that, in the long run, silver played a key role in the struggles and entanglements that led to the decline of the Chinese empire.

The era from 1400 to 1800 saw intense biological, commercial, and cultural exchanges, and the creation of global connections on an unprecedented scale. Divided into two books, Volume 6 of the Cambridge World History series considers these critical transformations. The first book examines the material and political foundations of the era, including global considerations of the environment, disease, technology, and cities, along with regional studies of empires in the eastern and western hemispheres, crossroads areas such as the Indian Ocean, Central Asia, and the Caribbean, and sites of competition and conflict, including Southeast Asia, Africa, and the Mediterranean. The second book focuses on patterns of change, examining the expansion of Christianity and Islam, migrations, warfare, and other topics on a global scale, and offering insightful detailed analyses of the Columbian exchange, slavery, silver, trade, entrepreneurs, Asian religions, legal encounters, plantation economies, early industrialism, and the writing of history.

Silver, Trade, and War is about men and markets, national rivalries, diplomacy and conflict, and the advancement or stagnation of states. Chosen by Choice Magazine as an Outstanding Academic Title The 250 years covered by Silver, Trade, and War marked the era of commercial capitalism, that bridge between late medieval and modern times. Spain, peripheral to western Europe in 1500, produced American treasure in silver, which Spanish convoys bore from Portobelo and Veracruz on the Carribbean coast across the Atlantic to Spain in exchange for European goods shipped from Sevilla (later, Cadiz). Spanish colonialism, the authors suggest, was the cutting edge of the early global economy. America's silver permitted Spain to graft early capitalistic elements onto its late medieval structures, reinforcing its patrimonialism and dynasticism. However, the authors argue, silver gave Spain an illusion of wealth, security, and hegemony, while its system of "managed" transatlantic trade failed to monitor silver flows that were beyond the control of government officials. While Spain's intervention buttressed Hapsburg efforts at hegemony in Europe, it induced the formation of protonationalist state formations, notably in England and France. The treaty of Utrecht (1714) emphasized the lag between developing England and France, and stagnating Spain, and the persistence of Spain's late medieval structures. These were basic elements of what the authors term Spain's Hapsburg "legacy." Over the first half of the eighteenth century, Spain under the Bourbons tried to contain expansionist France and England in the Caribbean and to formulate and implement policies competitors seemed to apply successfully to their overseas possessions, namely, a colonial compact. Spain's policy planners (proyectistas) scanned abroad for models of modernization adaptable to Spain and its American colonies without risking institutional change. The second part of the book, "Toward a Spanish-Bourbon Paradigm," analyzes the projectors' works and their minimal impact in the context of the changing Atlantic scene until 1759. By then, despite its efforts, Spain could no longer compete successfully with England and France in the international economy. Throughout the book a colonial rather than metropolitan prism informs the authors' interpretation of the major themes examined.

Silver is one of the most beautiful and versatile of the traditional decorative metals, and therefore also one of the most widely used. A great deal has been published about its many different aspects, and it may reasonably be asked, therefore, what the justification is for producing yet another book on the subject. The answer is that this ones does something never attempted in English before: it provides, in a single volume, a survey of the development of silver--and to a lesser extent gold--plate in Europe and European America from the earliest times to the present day. All previous surveys that have attempted inter-national coverage (and they are few) have been much narrower in scope and, because they were written by individuals, less authoritative in overall treatment. The range and authority of this book reflect the fact that it has been written by a team of people who are specialists in their fields. -- Introduction.

How silver influenced two hundred years of world history, and why it matters today This is the story of silver’s transformation from soft money during the nineteenth century to hard asset today, and how manipulations of the white metal by American president Franklin D. Roosevelt during the 1930s and by the richest man in the world, Texas oil baron Nelson Bunker Hunt, during the 1970s altered the course of American and world history. FDR pumped up the price of silver to help jump start the U.S. economy during the Great Depression, but this move weakened China, which was then on the silver standard, and facilitated Japan’s rise to power before World War II. Bunker Hunt went on a silver-buying spree during the 1970s to protect himself against inflation and triggered a financial crisis that left him bankrupt. Silver has been the preferred shelter against government defaults, political instability, and inflation for most people in the world because it is cheaper than gold. The white metal has been the place to hide when conventional investments sour, but it has also seduced sophisticated investors throughout the ages like a siren. This book explains how powerful figures, up to and including Warren Buffett, have come under silver’s thrall, and how its history guides economic and political decisions in the twenty-first century.

Winner, American Library Association Booklist’s Top of the List, 2019 Adult Nonfiction Acclaimed writer Marie Arana delivers a cultural history of Latin America and the three driving forces that have shaped the character of the region: exploitation (silver), violence (sword), and religion (stone). “Meticulously researched, [this] book’s greatest strengths are the power of its epic narrative, the beauty of its prose, and its rich portrayals of character…Marvelous” (The Washington Post). Leonor Gonzales lives in a tiny community perched 18,000 feet above sea level in the Andean cordillera of Peru, the highest human habitation on earth. Like her late husband, she works the gold mines much as the Indians were forced to do at the time of the Spanish Conquest. Illiteracy, malnutrition, and disease reign as they did five hundred years ago. And now, just as then, a miner’s survival depends on a vast global market whose fluctuations are controlled in faraway places. Carlos Buergos is a Cuban who fought in the civil war in Angola and now lives in a quiet community outside New Orleans. He was among hundreds of criminals Cuba expelled to the US in 1980. His story echoes the violence that has coursed through the Americas since before Columbus to the crushing savagery of the Spanish Conquest, and from 19th- and 20th-century wars and revolutions to the military crackdowns that convulse Latin America to this day. Xavier Albó is a Jesuit priest from Barcelona who emigrated to Bolivia, where he works among the indigenous people. He considers himself an Indian in head and heart and, for this, is well known in his adopted country. Although his aim is to learn rather than proselytize, he is an inheritor of a checkered past, where priests marched alongside conquistadors, converting the natives to Christianity, often forcibly, in the effort to win the New World. Ever since, the Catholic Church has played a central role in the political life of Latin America—sometimes for good, sometimes not. In this “timely and excellent volume” (NPR) Marie Arana seamlessly weaves these stories with the history of the past millennium to explain three enduring themes that have defined Latin America since pre-Columbian times: the foreign greed for its mineral riches, an ingrained propensity to violence, and the abiding power of religion. Silver, Sword, and Stone combines “learned historical analysis with in-depth reporting and political commentary...[and] an informed and authoritative voice, one that deserves a wide audience” (The New York Times Book Review).