Program 2021/22

Tuesday 26 October 2021
Christoph Dominik Blum (Tübingen University)
Thinking about the stock market system. The role of the stock corporation in the German Railway Mania

Tuesday 23 November 2021
François Velde (Federal Reserve Bank of Chicago) with Lilia Costabile (University of Naples Federico II)
Monetary Crisis and Reform in 17th c. Naples

In 1622 a major foreign exchange and monetary crisis broke out in Naples. We examine the origins of the crisis, going back to the mid-1550s. A sequence of events (in particular policy decisions by the government) led to the replacement of full-bodied coinage by a mixture of inside money, issued by banks, and overvalued small denominations susceptible to clipping and counterfeiting. The clipped coins circulated at par domestically but the local currency depreciated on foreign markets. Contemporaries struggled to understand the problem and various solutions were attempted. When it became known that a planned reform might impose costs on coin-holders the exchange rate collapsed and prices exploded. The ensuing monetary reform required a bail-out the banking system.

Tuesday 14 December 2021
Francesca Trivellato (Princeton Institute for Advanced Study)
Commercial Credit in Pre-Industrial Europe

Tuesday 18 January 2022
William P. Deringer (MIT)
Mr. Aecroid’s Tables: Economic Calculations and Social Customs in the Early-Modern Countryside

Tuesday 29 March 2022
Craig Muldrew (University of Cambridge)
Land and Money: The Financial Revolution Revisited

The financial revolution is often simplified into a story of how the Bank of England was established as a Whig monopoly institution, and then successfully helped to financialise government debt in the form of shares. This success eventually gave it the ability to become a lender of last resort and a model for central banks. This linear success story is often contrasted with the failure of the largely Tory South Sea Company to do the same thing on a much larger scale. Also, earlier Tory proposals to financialise the value of agricultural land through the creation of paper money are also seen as failures, since no land bank was established in England. However, this paper will show that the value of land was in fact successfully monetized in various different ways in England, Scotland and the North American colonies, and that this development should be considered an equally important development of the financial revolution.

Tuesday 19 April 2022
Akinobu Kuroda (University of Tokyo)
‘Modernity’ as a Product of Global Delocalization of Money

Tuesday 7 June 2022
Karin Pallaver (University of Bologna)
Currency Circuits and the Disruption of Monetary Uniformity in Early Colonial East Africa

Tuesday 21 June 2022
Gareth Austin (University of Cambridge)
Money and Markets in Precolonial West Africa, c1450-c1900

Tuesday 28 June 2022
Olivier Accominotti  (London School of Economics)

Tuesday 12 July 2022
Debjani Bhattacharyya (University of Zürich)
Opacity and Precision: Marine Insurance and Underwriting in the British Empire (postponed)

Cite this blog post
Stefano Condorelli (2021, October 13). Program 2021/22. Early Modern Financial History Seminar. Retrieved June 20, 2024, from

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