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Anthropologists in the Stock ExchangeA Financial History of Victorian Science$
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Marc Flandreau

Print publication date: 2016

Print ISBN-13: 9780226360300

Published to Chicago Scholarship Online: May 2017

DOI: 10.7208/chicago/9780226360584.001.0001

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The Ogre of Foreign Loans

The Ogre of Foreign Loans

(p.77) Chapter Four The Ogre of Foreign Loans
Anthropologists in the Stock Exchange

Marc Flandreau

University of Chicago Press

This chapter provides a deconstruction of the stigmatizing process characterizing financial discourse during the last quarter of the 19th century and the heyday of the colonial era. It underscores the importance of white-collar criminality in the 1860s and early 1870s and the challenge it posed to trust and foreign investment. Relying in part on material disclosed around the investigations of the select committee on loans to foreign states (1875) it does outline the relevance of a specific clique, the “foreign bondholders”, a group of brokers and stock exchange specialists who played a crucial role in exploring the financial side of imperialism during the era. The chapter deconstructs their politics, underscoring their interest for large colonization projects and the value they found, from this vantage point, in associating with certain learned societies, such as the Geographical or Anthropological Society.

Keywords:   foreign debt, foreign debt mania, railways, white collar crime, vulture investors, learned sociability

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