Financing the Landed Estate


Book Description

While there is an extensive historiography which explores English agriculture in the nineteenth century, there has been less attention paid to individual estates and in particular the role of the land agent within their management, administration and participation in rural community relationships. Nowhere is this more obvious in the lack of research into the financial history of the landed estate, even though in the early nineteenth century these were some of the largest businesses in England. The Castleman letters are a rich source which detail the intricate working, financial, social and political relationships which constituted the foundation of the landed estate. The vouchers of which more than 10,000 have survived alongside the rental accounts have rarely been examined. On their own they illustrate, for example: the sums paid out on maintenance, the interest payments on mortgages, charitable expenditure, spending on property repairs and one-off payments for a wide and diverse range of items. Together with the diurnal correspondence all three aspects of the archive detail the daily financial undertakings and form the foundation of a new financial history of the estate. This book will show that estate management was underpinned by an inherent understanding of the financial decisions which needed to be taken, and will be of interest to academics and researchers of financial history.




Financing the Landed Estate


Book Description




Rethinking the Economics of Land and Housing


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Why are house prices in many advanced economies rising faster than incomes? Why isn’t land and location taught or seen as important in modern economics? What is the relationship between the financial system and land? In this accessible but provocative guide to the economics of land and housing, the authors reveal how many of the key challenges facing modern economies - including housing crises, financial instability and growing inequalities - are intimately tied to the land economy. Looking at the ways in which discussions of land have been routinely excluded from both housing policy and economic theory, the authors show that in order to tackle these increasingly pressing issues a major rethink by both politicians and economists is required.




War, Politics and Finance in Late Medieval English Towns


Book Description

The strengthening of ties between crown and locality in the fourteenth century is epitomised by the relationships between York and Bristol (then amongst the largest and wealthiest urban communities in England) and the crown. This book combines a detailed study of the individuals who ruled Bristol and York at the time with a close analysis of the texts which illustrate the relationship between the two cities and the king, thus offering a new perspective on relations between town and crown in late medieval England.Beginning with an analysis of the various demands, financial, political and commercial, made upon the towns by the Hundred Years War, the author argues that such pressures facilitated the development of a partnership in government between the crown and the two towns, meaning that the elite inhabitants became increasingly important in national affairs. The book goes on to explore in detail the nature of urban aspirations within the kingdom, arguing that the royal charters granting the towns their coveted county status were crucial in binding their ruling elites into the apparatus of royal government, and giving them a powerful voice in national politics.







The Law Times


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Athenian Economy and Society


Book Description

In this ground-breaking analysis of the world's first private banks, Edward Cohen convincingly demonstrates the existence and functioning of a market economy in ancient Athens while revising our understanding of the society itself. Challenging the "primitivistic" view, in which bankers are merely pawnbrokers and money-changers, Cohen reveals that fourth-century Athenian bankers pursued sophisticated transactions. These dealings--although technologically far removed from modern procedures--were in financial essence identical with the lending and deposit-taking that separate true "banks" from other businesses. He further explores how the Athenian banks facilitated tax and creditor avoidance among the wealthy, and how women and slaves played important roles in these family businesses--thereby gaining legal rights entirely unexpected in a society supposedly dominated by an elite of male citizens. Special emphasis is placed on the reflection of Athenian cognitive patterns in financial practices. Cohen shows how transactions were affected by the complementary opposites embedded in the very structure of Athenian language and thought. In turn, his analysis offers great insight into daily Athenian reality and cultural organization.







The Founders and Finance


Book Description

In 1776 the United States government started out on a shoestring and quickly went bankrupt fighting its War of Independence against Britain. At the war’s end, the national government owed tremendous sums to foreign creditors and its own citizens. But lacking the power to tax, it had no means to repay them. The Founders and Finance is the first book to tell the story of how foreign-born financial specialists—immigrants—solved the fiscal crisis and set the United States on a path to long-term economic success. Pulitzer Prize–winning author Thomas K. McCraw analyzes the skills and worldliness of Alexander Hamilton (from the Danish Virgin Islands), Albert Gallatin (from the Republic of Geneva), and other immigrant founders who guided the nation to prosperity. Their expertise with liquid capital far exceeded that of native-born plantation owners Washington, Jefferson, and Madison, who well understood the management of land and slaves but had only a vague knowledge of financial instruments—currencies, stocks, and bonds. The very rootlessness of America’s immigrant leaders gave them a better understanding of money, credit, and banks, and the way each could be made to serve the public good. The remarkable financial innovations designed by Hamilton, Gallatin, and other immigrants enabled the United States to control its debts, to pay for the Louisiana Purchase of 1803, and—barely—to fight the War of 1812, which preserved the nation’s hard-won independence from Britain.