The Capital Market of Manila and the Pacific Trade, 1668-1838

by Juan José Rivas Moreno

2024 · Springer Nature

Economic history has always emphasized the importance of long-distance trade in the emergence of modern financial markets, yet almost nothing is known about the Manila trade. This book offers the first reconstruction of the capital market of Manila using new archival sources that have never been used in the economic history of Pacific trade. The book explains how trade between Asia and Spanish America across the Pacific, which lasted for 250 years (1571 – 1815) was financed from the city of Manila.The book analyses the political economy and institutional structures of the Manila capital market in the context of the global silver trade, as well as addressing key similarities and differences with European trade routes and differing approaches to colonialism and commerce in Asian waters. It traces how the Manila capital market emerged in a bottom-up process with a redistributive aspect that tied the interests of citizens with the fortunes of trade, using institutions familiar to the public like legacy funds, brotherhoods and lay religious orders to pool liquidity, originate working capital, and internalise the risk of loss at sea. It challenges the notion that there is a normative model for the development of capital markets and introduces an industrial organisation analysis to the broader structure of Early Modern trade in the Spanish Empire. Sitting at the intersection of economic and financial history, global history, imperial history and political economy, this book will be a cutting-edge and valuable resource for a broad range of scholars.

Selected Writings

by José Martí

2002 · Penguin

José Martí (1853-1895) is the most renowned political and literary figure in the history of Cuba. A poet, essayist, orator, statesman, abolitionist, and the martyred revolutionary leader of Cuba's fight for independence from Spain, Martí lived in exile in New York for most of his adult life, earning his living as a foreign correspondent. Throughout the 1880s and early 1890s, Martí's were the eyes through which much of Latin America saw the United States. His impassioned, kaleidoscopic evocations of that period in U.S. history, the assassination of James Garfield, the opening of the Brooklyn Bridge, the execution of the Chicago anarchists, the lynching of the Italians in New Orleans, and much more, bring it rushing back to life. Organized chronologically, this collection begins with his early writings, including a thundering account of his political imprisonment in Cuba at age sixteen. The middle section focuses on his journalism, which offers an image of the United States in the nineteenth century, its way of life and system of government, that rivals anything written by de Tocqueville, Dickens, Trollope, or any other European commentator. Including generous selections of his poetry and private notebooks, the book concludes with his astonishing, hallucinatory final masterpiece, "War Diaries", never before translated into English. For more than seventy years, Penguin has been the leading publisher of classic literature in the English-speaking world. With more than 1,700 titles, Penguin Classics represents a global bookshelf of the best works throughout history and across genres and disciplines. Readers trust the series to provide authoritative texts enhanced by introductions and notes by distinguished scholars and contemporary authors, as well as up-to-date translations by award-winning translators.