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All That Glittered - Britain's Most Precious Metal from Adam Smith to the Gold Rush (Hardcover)
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All That Glittered - Britain's Most Precious Metal from Adam Smith to the Gold Rush (Hardcover)
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During the century after 1750, Great Britain absorbed much of the
world's supply of gold into its pockets, cupboards, and coffers
when it became the only major country to adopt the gold standard as
the sole basis of its currency. Over the same period, the nation's
emergence was marked by a powerful combination of Protestantism,
commerce, and military might, alongside preservation of its older
social hierarchy. In this rich and broad-ranging work, Timothy
Alborn argues for a close connection between gold and Britain's
national identity. Beginning with Adam Smith's Wealth of Nations,
which validated Britain's position as an economic powerhouse, and
running through the mid-nineteenth century gold rushes in
California and Australia, Alborn draws on contemporary descriptions
of gold's value to highlight its role in financial, political, and
cultural realms. He begins by narrating British interests in gold
mining globally to enable the smooth operation of the gold
standard. In addition to explaining the metal's function in
finance, he explores its uses in war expenditure, foreign trade,
religious observance, and ornamentation at home and abroad. Britons
criticized foreign cultures for their wasteful and inappropriate
uses of gold, even as it became a prominent symbol of status in
more traditional features of British society, including its royal
family, aristocracy, and military. Although Britain had been
ambivalent in its embrace of gold, ultimately it enabled the nation
to become the world's most modern economy and to extend its
imperial reach around the globe. All That Glittered tells the story
of gold as both a marker of value and a valuable commodity, while
providing a new window onto Britain's ascendance after the 1750s.
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