This study examines the role of cowrie-shell money in West African trade, particularly the slave trade. The shells were carried from the Maldives to the Mediterranean by Arab traders for further transport across the Sahara, and to Europe by competing Portuguese, Dutch, English and French traders for onward transport to the West African coast. In Africa they served to purchase the slaves exported to the New World, as well as other less sinister exports. Over a large part of West Africa they became the regular market currency, but were severely devalued by the importation of thousands of tons of the cheaper Zanzibar cowries. Colonial governments disliked cowries because of the inflation and encouraged their replacement by low-value coins. They disappeared almost totally, to re-appear during the depression of the 1930s, and have been found occasionally in the markets of remote frontier districts, avoiding exchange and currency control problems.
| ISBN: | 9780521541107 |
| Publication date: | 18th September 2003 |
| Author: | Jan Hogendorn, Marion Johnson |
| Publisher: | Cambridge University Press |
| Format: | Paperback |
| Pagination: | 248 pages |
| Series: | African Studies |
| Genres: |
General and world history Finance and the finance industry |
This study examines the role of cowrie-shell money in West African trade, particularly the slave trade. The shells were carried from the Maldives to the Mediterranean by Arab traders for further transport across the Sahara, and to Europe by competing Portuguese, Dutch, English and French traders for onward transport to the West African coast. In Africa they served to purchase the slaves exported to the New World, as well as other less sinister exports. Over a large part of West Africa they became the regular market currency, but were severely devalued by the importation of thousands of tons of the cheaper Zanzibar cowries. Colonial governments disliked cowries because of the inflation and encouraged their replacement by low-value coins. They disappeared almost totally, to re-appear during the depression of the 1930s, and have been found occasionally in the markets of remote frontier districts, avoiding exchange and currency control problems.
The Shell Money of the Slave Trade features in the following genres: General and world history, Finance and the finance industry
The Shell Money of the Slave Trade is available in Paperback
The Shell Money of the Slave Trade was written by Jan Hogendorn, Marion Johnson and published by Cambridge University Press
The Shell Money of the Slave Trade has 248 pages
Yes it is part of African Studies series
£38.70