International bimetallism and silver absorption in Singapore, 1840-73
International bimetallism and silver absorption in Singapore, 1840-73
复制标题
国际复本位制和新加坡白银吸收，1840-73 年
DOI：
10.1111/ehr.12662
复制
发表时间：
2018
影响因子：
2.2
通讯作者：
Atsushi Kobayashi
中科院分区：
文献类型：
--
作者：
SETOBAYASHI;Masataka;足立泰美・北村智紀;足立泰美・北村智紀;Atsushi Kobayashi
这项研究通过对银行业务和金条套利的分析，揭示了19世纪第三季度新加坡白银交易背后的机制。1849年以后，加州淘金热导致新加坡金条市场黄金贬值，白银升值，从英国进口白银的套利利润出现。与此同时，东方交易所银行业务的扩张加强了新加坡交易所市场与伦敦的联系，并使这两个遥远城市之间的黄金套利成为可能。结果，来自英国的白银大量涌入。此外，1854年后由荷兰出口到爪哇的荷兰白银，由于荷兰政府的不利汇率政策，流入了新加坡。
This study reveals the mechanism underlying the silver trade in Singapore during the third quarter of the nineteenth century by analysing banking business and bullion arbitrage. After 1849, the California Gold Rush induced gold depreciation and silver appreciation in Singapore's bullion market, and arbitrage profits for silver imports from Britain emerged. At the same time, the expansion of banking business by eastern exchange banks enhanced the connectivity of Singapore's exchange market with London, and enabled bullion arbitrage between the two distant cities. As a result, there was an influx of silver from Britain. In addition, Dutch silver, which was exported to Java by the Netherlands after 1854, flowed into Singapore due to the unfavourable exchange policy of the Dutch government.