Milner and the mind of imperialism

African Studies Seminar series. Paper presented 26 February 1979Capitalist development in Southern Africa, particularly in Kimberley and on the Rand, was very much the result of the penetration of British and foreign capital as well ac the rapid growth of commercial interests. The continued expansion of the mining industry, with its huge amounts of initial capital outlay, particularly after 1893 when the deep levels came into operation, depended upon the state of the capital markets of Europe: speculative booms in "kaffir" shares not only lined the pockets of investors but also provided new working capital, for little capital was raised by the issue of debentures, (l)

The legacy of the global financial crisis

Much has been written on the financial crisis of 2008 – the most severe economic downturn since the Great Depression – analysing its causes and the risks for the future of the global economy. This book takes an alternative approach which focuses on the legacy of the global financial crisis, what is remembered and what lessons have been drawn from it. This volume provides perspectives on this legacy from a variety of contributors including central bankers, regulators, politicians, academics, and journalists. They offer insight into what remains of the crisis in terms of public and industry awareness, changes to the post-2008 financial architecture, lessons from the national experiences of highly exposed small economies, and considers this legacy in terms of oversight by regulatory regimes. These diverse perspectives are drawn together here to ask how we can ensure that these lessons will be transmitted to the new generation of global financiers.Acknowledgements; List of Figures - List of Tables; - Contributors. Introduction: The Legacy of the Global Financial Crisis (Youssef Cassis and Jean-Jacques van Helten) Part 1: Perspectives on the Global Financial Crisis; -- Part 2: National Experiences; Part 3: The Architecture of Control; -- Index

Business on trial: The tobacco securities trust and the 1935 pepper debacle

The prosecution and imprisonment of Lord Kylsant in 1931, following the collapse of the Royal Mail Shipping Group, has long been acknowledged as a landmark event in the history of financial accounting. Far less attention has been given to the equally high profile conviction and imprisonment of three businessmen four years later in the wake of the notorious pepper scandal. This article examines the background to the scandal, particularly the role played by an investment vehicle called the Tobacco Securities Trust, and compares the subsequent trial and conviction to that of the Royal Mail case. The findings of the article serve to endorse studies by accounting historians arguing that Britain's legal environment played a critical role in promoting improvements in the financial disclosure policies evidenced amongst leading British companies during the second quarter of the twentieth century.Financial Disclosure, Primary Commodities, Tin, Shellac, Pepper, Commodity Restriction Schemes, Company Prospectus, Official Receiver, Bankruptcy, Foreign Investments, Royal Mail Case (1931), Boots Pure Drug Co,