Transatlantic Speculations

The year 1873 was one of financial crisis. A boom in railway construction had spurred a bull market—but when the boom turned to bust, transatlantic panic quickly became a worldwide economic downturn. In Transatlantic Speculations, Hannah Catherine Davies offers a new lens on the panics of 1873 and nineteenth-century globalization by exploring the ways in which contemporaries experienced a tumultuous period that profoundly challenged notions of economic and moral order. Considering the financial crises of 1873 from the vantage points of Berlin, New York, and Vienna, Davies maps what she calls the dual “transatlantic speculations” of the 1870s: the financial speculation that led to these panics as well as the interpretative speculations that sprouted in their wake. Drawing on a wide variety of sources—including investment manuals, credit reports, business correspondence, newspapers, and legal treatises—she analyzes how investors were prompted to put their money into faraway enterprises, how journalists and bankers created and spread financial information and disinformation, how her subjects made and experienced financial flows, and how responses ranged from policy reform to anti-Semitic conspiracy theories when these flows suddenly were interrupted. Davies goes beyond national frames of analysis to explore international economic entanglement, using the panics’ interconnectedness to shed light on contemporary notions of the world economy. Blending cultural, intellectual, and legal history, Transatlantic Speculations gives vital transnational and comparative perspective on a crucial moment for financial markets, globalization, and capitalism.

Offering a variety of critical approaches to late eighteenth- and nineteenth-century Gothic literature, this collection provides a transnational view of the emergence and flowering of the Gothic. The essays expand on now well-known approaches to the Gothic (such as those that concentrate exclusively on race, gender, or nation) by focusing on international issues: religious traditions, social reform, economic and financial pitfalls, manifest destiny and expansion, changing concepts of nationhood, and destabilizing moments of empire-building. By examining a wide array of Gothic texts, including novels, drama, and poetry, the contributors present the Gothic not as a peripheral, marginal genre, but as a central mode of literary exchange in an ever-expanding global context. Thus the traditional conventions of the Gothic, such as those associated with Ann Radcliffe and Monk Lewis, are read alongside unexpected Gothic formulations and lesser-known Gothic authors and texts. These include Mary Rowlandson and Bram Stoker, Frances and Anthony Trollope, Louisa May Alcott, Elizabeth Gaskell, Theodore Dreiser, Rudyard Kipling, and Lafcadio Hearn, as well as the actors Edmund Kean and George Frederick Cooke. Individually and collectively, the essays provide a much-needed perspective that eschews national borders in order to explore the central role that global (and particularly transatlantic) exchange played in the development of the Gothic. British, American, Continental, Caribbean, and Asian Gothic are represented in this collection, which seeks to deepen our understanding of the Gothic as not merely a national but a global aesthetic.

A sweeping biography that opens a window onto the gilded age of Jewish philanthropy. Baron Maurice de Hirsch was one of the emblematic figures of the nineteenth century. Above all, he was the most influential Jewish philanthropist of his time. Today Hirsch is less well known than the Rothschilds, or his gentile counterpart Andrew Carnegie, yet he was, to his contemporaries, the very embodiment of the gilded age of Jewish philanthropy. Hirsch's life provides a singular entry point for understanding Jewish philanthropy and politics in the late nineteenth century, a period when, as now, private benefactors played an outsize role in shaping the collective fate of Jewish communities. Hirsch's vast fortune derived from his role in creating the first rail line linking Western Europe with the Ottoman Empire, what came to be known as the Orient Express. Socializing with the likes of the Austrian crown prince Rudolph and "Bertie," Prince of Wales, Hirsch rose to the pinnacle of European aristocratic society, but also found himself the frequent target of vicious antisemitism. This was an era when what it meant to be Jewish—and what it meant to be European—were undergoing dramatic changes. Baron Hirsch was at the center of these historic shifts. While in his time Baron Hirsch was the subject of widespread praise, enraged political commentary, and conspiracy theories alike, his legacy is often overlooked. Responding to the crisis wrought by the mass departure of Jews from the Russian Empire at the turn of the century, Hirsch established the Jewish Colonization Association, with the goal of creating a refuge for the Jews in Argentina. When Theodor Herzl, the founder of Zionism, advertised his plan to create a Jewish state (not without inspiration from Hirsch), he still wondered whether to do so in Palestine or in Argentina—and left the question open. In The Baron, Matthias Lehmann tells the story of this remarkable figure whose life and legacy provide a key to understanding the forces that shaped modern Jewish history.

Illuminates Britain's literary field during the 1820s as a decade of improvisation, speculation and rapid cultural change.

What is the difference between a gambler and a speculator? Is there a readily identifiable line separating the two? If so, is it possible for us to discourage the former while encouraging the latter? These difficult questions cut across the entirety of American economic history, and theperiodic failures by regulators to differentiate between irresponsible gambling and clear-headed investing have often been the proximate causes of catastrophic economic downturns. Most recently, the blurring of speculation and gambling in U.S. real estate markets fueled the 2008 global financialcrisis, but it is one in a long line of similar economic disasters going back to the nation's founding.In Speculation, author Stuart Banner provides a sweeping and story-rich history of how the murky lines separating investment, speculation, and outright gambling have shaped America from the 1790s to the present. Regulators and courts always struggled to draw a line between investment and gambling,and it is no easier now than it was two centuries ago. Advocates for risky investments have long argued that risk-taking is what defines America. Critics counter that unregulated speculation results in bubbles that always draw in the least informed investors-gamblers, essentially. Financial chaos isthe result. The debate has been a perennial feature of American history, with the pattern repeating before and after every financial downturn since the 1790s. The Panic of 1837, the speculative boom of the roaring twenties, and the real estate bubble of the early 2000s are all emblematic of thedifficulty in differentiating sober from reckless speculation. Even after the recent financial crisis, the debate continues. Some, chastened by the crash, argue that we need to prohibit certain risky transactions, but others respond by citing the benefits of loosely governed markets and the dangersof over-regulation. These episodes have generated deep ambivalence, yet Americans' faith in investment and - by extension - the stock market has always rebounded quickly after even the most savage downturns. Indeed, the speculator on the make is a central figure in the folklore of Americancapitalism.Engaging and accessible, Speculation synthesizes a suite of themes that sit at the heart of American history - the ability of courts and regulators to protect ordinary Americans from the ravages of capitalism; the periodic fallibility of the American economy; and - not least - the moral conundruminherent in valuing those who produce goods over those who speculate, and yet enjoying the fruits of speculation. Banner's history is not only invaluable for understanding the fault lines beneath the American economy today, but American identity itself.

This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. Networks of Modernity: Germany in the Age of the Telegraph, 1830-1880 offers a fresh perspective on the history of Germany by investigating the origins and impact of the 'communications revolution' that transformed state and society during the nineteenth century. It focuses upon the period 1830-1880, exploring the interactions between the many different actors who developed, administered, and used one of the most important technologies of the period-the electric telegraph. It reveals the channels through which scientific and technical knowledge circulated across Central Europe during the 1830s and 1840s, stimulating both collaboration and confrontation between the scientists, technicians, businessmen, and bureaucrats involved in bringing the telegraph to life. It highlights the technology's impact upon the conduct of trade, finance, news distribution, and government in the tumultuous decades that witnessed the 1848 revolutions, the wars of unification, and the establishment of the Kaiserreich in 1871. Following the telegraph lines themselves, it weaves together the changes which took place at a local, regional, national, and eventually global level, revisiting the technology's impact upon concepts of space and time, and highlighting the importance of this period in laying the foundations for Germany's experience of a profoundly ambiguous, networked modernity.