Hostname: page-component-cd9895bd7-hc48f Total loading time: 0 Render date: 2024-12-23T05:06:39.553Z Has data issue: false hasContentIssue false
  • English
  • Français

Sound Speculators: Public Debates about Futures Trading in British India and Germany, 1880–1930

Published online by Cambridge University Press:  19 June 2020

CHRISTINA LUBINSKI  and
LAURA JULIA RISCHBIETER
Get access Rights & Permissions [Opens in a new window]

Abstract

Considerations about the legitimacy of futures trading have been ubiquitous in the highly integrated world economy since the late nineteenth century. This article compares two national debates in Germany and British India from the 1880s to the 1930s. Despite significant differences in the cultural and economic contexts of the two countries and in the emergence of futures trading, there are interesting similarities. In both countries, individual futures exchanges were organized and controlled by small privileged groups of traders. These minorities were glued together by social ties, de facto controlling (or profiting from) access to futures markets and facing criticism because of their privileged position. While contemporaries and historians often focus on futures trading as trading without intent to deliver, the historical analysis in this article shows that an equally important issue was the conflict over distribution and power between more and less privileged interest groups and their respective market access.

Type
Article
Information
Enterprise & Society , Volume 22 , Issue 3 , September 2021 , pp. 808 - 841
Copyright
© The Author 2020. Published by Cambridge University Press on behalf of the Business History Conference All rights reserved.

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Bibliography of Works Cited

Banner, Stuart. Speculation: A History of the Elusive Line Between Gambling and Investment. Oxford: Oxford University Press, 2017.Google Scholar
Bayly, Christopher A. Rulers, Townsmen, and Bazaars: North Indian Society in the Age of British Expansion, 1770–1870, 3rd ed. New Delhi: Oxford University Press, 2012.CrossRefGoogle Scholar
Birla, Ritu. Stages of Capital: Law, Culture, and Market Governance in Late Colonial India. Durham, NC: Duke University Press, 2009.Google Scholar
Brougier, Adolf. Der Kaffee: Dessen Kultur Und Handel. Mit Einem Anhang Über Den Terminhandel Im Kaffeegeschäft. Munich: Oldenbourg 1889.CrossRefGoogle Scholar
Christen, Walter. Der Hamburger Kaffee-Einzelhandel Und Seine Besondere Gestaltung Unter Dem Einfluß Des Standortes Am Importplatz. Harburg-Wilhelmsburg: Prieß, 1935.Google Scholar
Cohen, Allan R. Tradition, Change and Conflict in Indian Family Business. The Hague: Mouton, 1974.CrossRefGoogle Scholar
Cronon, William. Nature’s Metropolis: Chicago and the Great West. New York: W. W. Norton, 1991.Google Scholar
Deutschmann, Ludwig. Der Kaffee-Großhandel. Berlin: Hobbing, 1918.Google Scholar
Emery, Henry Crosby. Speculation on the Stock and Produce Exchanges of the United States. New York: Columbia University, 1896.Google Scholar
Evans, Richard J. Death in Hamburg: Society and Politics in the Cholera Years 1830–1910. New York: Penguin Books, 2005.Google Scholar
Freytag, Gunther. Die Usancen Im Hamburger Kaffeehandel. Erlangen: Höfer & Limmert, 1929.Google Scholar
Fuchs, Carl Johannes. “Der Waren-Terminhandel, Seine Technik Und Volkswirtschaftliche Bedeutung.” Jahrbücher für Gesetzgebung, Verwaltung und Volkswirtschaft im Deutschen Reich 15 (1891): 49–102.Google Scholar
Fürst, Max. Die Börse: Ihre Entstehung Und Entwicklung, Ihre Einrichtung Und Ihre Geschäfte. Leipzig: Verlag Der Modernen Kaufmännischen Bibliothek, 1913.Google Scholar
Goss, B. A., ed. Models of Futures Markets. London: Routledge, 2000.Google Scholar
Goswami, Omkar. Industry, Trade, and Peasant Society: The Jute Economy of Eastern India, 1900–1947. Delhi: Oxford University Press, 1991.Google Scholar
Grünwald, Julius, and Lilienthal, L.. Zum Terminhandel an Der Berliner Produktenbörse. Berlin: H. Lazerus, 1892.Google Scholar
Haller, Lea. Transithandel. Geld- und Warenströme im globalen Kapitalismus. Berlin: Suhrkamp, 2019.Google Scholar
Hardgrove, Anne. Community and Public Culture: The Marwaris in Calcutta. New Delhi: Oxford University Press, 2004.Google Scholar
Haynes, Douglas E. Small Town Capitalism in Western India: Artisans, Merchants and the Making of the Informal Economy, 1870–1960. Cambridge: Cambridge University Press, 2012.CrossRefGoogle Scholar
Hellauer, Josef. System Der Welthandelslehre. Ein Lehr- Und Handbuch Des Internationalen Handels, Bd. 1: Allgemeine Welthandelslehre. Berlin: Puttkammer & Mühlbrecht, 1910.Google Scholar
Jacobson, Eduard. Terminhandel in Waren (Aus Dem Holländ.). Rotterdam: Verlag Allgemeine Kaffeezeitung, 1889.Google Scholar
Jones, Geoffrey. Multinationals and Global Capitalism: From the Nineteenth to the Twenty-First Century. Oxford: Oxford University Press, 2005.Google Scholar
Kranke, Willy. Organisation Und Preisbildung Im Deutschen Kaffee-Großhandel. Königsbruck: Pabst, 1928.Google Scholar
Levy, Jonathan. Freaks of Fortune: The Emerging World of Capitalism and Risk in America. Cambridge, MA: Harvard University Press, 2012.CrossRefGoogle Scholar
Markham, Jerry W. The History of Commodity Futures Trading and Its Regulation. New York: Praeger, 1987.Google Scholar
Markovits, Claude. The Global World of Indian Merchants, 1750–1947: Traders of Sind from Bukhara to Panama. Cambridge: Cambridge University Press, 2000.CrossRefGoogle Scholar
McCloskey, Deirdre N. Bourgeois Dignity: Why Economics Can’t Explain the Modern World. Chicago: University of Chicago Press, 2010.CrossRefGoogle Scholar
Meier, Johann Christian. Die Entstehung Des Börsengesetzes Vom 22. Juni 1896. Munich: Scripta Mercaturae Verlag, 1992.Google Scholar
Preda, Alex. Framing Finance: The Boundaries of Markets and Modern Capitalism. Chicago: University of Chicago Press, 2009.CrossRefGoogle Scholar
Ratzka-Ernst, Clara. Welthandelsartikel Und Preise: Eine Studie Zur Preisbewegung Und Preisbildung. Der Zucker, Der Kaffee Und Die Baumwolle. Munich: Duncker & Humblot, 1912.CrossRefGoogle Scholar
Rischbieter, Julia Laura. Mikro-Ökonomie Der Globalisierung: Kaffee, Kaufleute Und Konsumenten Im Kaiserreich 1870–1914. Cologne: Böhlau, 2011.CrossRefGoogle Scholar
Rudner, David West. Caste and Capitalism in Colonial India: The Nattukottai Chettiars. Berkeley: University of California Press, 1994.CrossRefGoogle Scholar
Schönfeld, Karl. Der Kaffee-Engroshandel Hamburgs. Heidelberg: Rössler, 1903.Google Scholar
Simon, Harry Arthur. Die Banken Und Der Hamburger Überseehandel. Stuttgart: Union, 1909.Google Scholar
Sonndorfer, Rudolf. Die Technik Des Welthandels: Ein Handbuch Der Internationalen Handelskunde. Wien: Hölder, 1889.Google Scholar
Stäheli, Urs. “Spektakuläre Spekulation”: Das Populäre Der Ökonomie . Frankfurt, Main: Suhrkamp, 2007.Google Scholar
Steinkühler, Martin. Agrar- Oder Industriestaat: Die Auseinandersetzungen Um Die Getreidehandels- Und Zollpolitik Des Deutschen Reiches 1879–1914. Frankfurt, Main: Lang, 1992.Google Scholar
Stewart, Gordon T. Jute and Empire: The Calcutta Jute Wallahs and the Landscapes of Empire. Manchester: Manchester University Press, 1998.Google Scholar
Subramanian, Lakshmi. Three Merchants of Bombay: Trawadi Arjunji Nathji, Jamsetjee Jeejeebhoy, and Premchand Roychand: Doing Business in Times of Change. New Delhi: Allen Lane, 2012.Google Scholar
Taknet, D. K., Baswani, Veena, and International Institute of Management & Entrepreneurship [IIME]. The Marwari Heritage. Jaipur: IIME, 2015.Google Scholar
Tapolski, William. Der Kaffeeterminhandel. Hamburg: Gräfe & Sillim, 1896.Google Scholar
Timberg, Thomas A. The Marwaris: From Traders to Industrialists. New Delhi: Vikas, 1978.Google Scholar
Timberg, Thomas A. The Marwaris: From Jagat Seth to the Birlas. New Delhi: Allen Lane, an imprint of Penguin Books, 2014.Google Scholar
Tripathi, Dwijendra. The Oxford History of Indian Business. New Delhi: Oxford University Press, 2004.Google Scholar
van Gülpen, Alexander. Terminhandel Und Börse. Berlin: Walther, 1895.Google Scholar
Vogt, Annette Christine. Ein Hamburger Beitrag Zur Entwicklung Des Welthandels Im 19. Jahrhundert. Die Kaufmannsreederei Wappäus Im Internationalen Handel Venezuelas Und Der Dänischen Sowie Niederländischen Antillen. Stuttgart: Steiner, 2003.Google Scholar
Wetzel, Christoph. Die Auswirkungen Des Reichsbörsengesetzes Von 1896 Auf Die Effektenbörse Im Deutschen Reich, Insbesondere Auf Die Berliner Fondsbörse. Münster: Lit, 1996.Google Scholar
Ahuja, Narender L. “Commodity Derivatives Market in India: Development, Regulation and Future Prospects.” International Research Journal of Finance and Economics 2 (2006): 153–162.Google Scholar
Ahvenainen, Jorma. “Telegraphs, Trade and Policy: The Role of the International Telegraphs in the Years 1870–1914.” In The Emergence of a World Economy, 1500–1914, edited by Fischer, Wolfram, McInnis, R. Marvin, and Schneider, Jürgen, 508–516. Stuttgart: Steiner, 1986.Google Scholar
Appadurai, Arjun. “Afterword: The Dreamwork of Capitalism.” Comparative Studies of South Asia, Africa and the Middle East 35, no. 3 (2015): 481–485.CrossRefGoogle Scholar
Bairoch, Paul. “Geographical Structure and Trade Balance of European Foreign Trade from 1800 to 1970.” Journal of European History 3, no. 3 (1974): 582–588.Google Scholar
Baltzer, Markus. “Spekulation als Anstoß für Kapitalmarktregulierung in Deutschland im ausgehenden 19. Jahrhundert.” Economic History Yearbook 54, no. 2 (2014): 95–110.Google Scholar
Bayerdörffer, A. “Der Kaffee-Terminhandel: Ein Beitrag Zur Geschichte Der Neueren Entwicklung Der Börsengeschäfte Mit Waren.” Jahrbücher für Nationalökonomie und Statistik N.F. 56, no. 5 (1891): 641–684, 840–874.Google Scholar
Bear, Laura, Birla, Ritu, and Puri, Stine Simonsen. “Speculation: Futures and Capitalism in India.” Comparative Studies of South Asia, Africa and the Middle East 35, no. 3 (2015): 387–391.CrossRefGoogle Scholar
Birla, Ritu. “Speculation Illicit and Complicit: Contract, Uncertainty, and Governmentality.’ Comparative Studies of South Asia, Africa and the Middle East 35, no. 3 (2015): 392–407.CrossRefGoogle Scholar
Borchardt, Knut. “Einleitung.” In Max Weber Gesamtausgabe. Abt. 1 Schriften Und Reden, Band 5, 1. Und 2. Halbband: Börsenwesen. Schriften Und Reden 1893–1898, edited by Borchardt, Knut, 1–114. Tübingen: Mohr Siebeck, 1999.Google Scholar
Buchner, Michael. “Möglichkeiten und Grenzen staatlicher Finanzmarktregulierung: Die Reaktionen der Berliner Fondsbörse auf die Einschränkung des Terminhandels in Wertpapieren durch das Börsengesetz von 1896.” Archiv für Sozialgeschichte 56 (2016): 189–217.Google Scholar
Burhop, Carsten, and Gelman, Sergey. “Taxation, Regulation and the Information Efficiency of the Berlin Stock Exchange 1892-–1913.” European Review of Economic History 12, no. 1 (2008): 39–66.Google Scholar
Carlton, Dennis W. “Futures Markets: Their Purpose, Their History, Their Growth, Their Successes and Failures.” Journal of Futures Markets 4, no. 3 (1984): 237–271.CrossRefGoogle Scholar
Engel, Alexander. “Buying Time: Futures Trading and Telegraphy in Nineteenth-Century Global Commodity Markets.” Journal of Global History 10, no. 2 (2015): 284–306.CrossRefGoogle Scholar
Engel, Alexander. “Futures and Risk: The Rise and Demise of the Hedger-Speculator Dichotomy.” Socio-Economic Review 11, no. 3 (2013): 553–576.CrossRefGoogle Scholar
Engel, Alexander. “‘Ist Nämlich Der Ganze Spekulationsverkehr Erst Einmal in Einen Krankhaft Erregten Zustand Hineingerathen…’: Pathologien Der Börse Im Späten 19. Jahrhundert.” Jahrbuch für Wirtschaftsgeschichte / Economic History Yearbook 57, no. 2 (2016): 333–365.CrossRefGoogle Scholar
Findlay, Ronald, and O’Rourke, Kevin H.. “Commodity Market Integration, 1500–2000.” In Globalization in Historical Perspective, edited by Bordo, Michael D., 13–64. Chicago: University of Chicago Press, 2003.CrossRefGoogle Scholar
Garbade, Kenneth D., and Silber, William L.. “Technology, Communication and the Performance of Financial Markets 1840–1975.” Journal of Finance 33, no. 3 (1978): 819–832.CrossRefGoogle Scholar
Gehlen, Boris. “‘Manipulierende Händler’ Vs. ‘Dumme Agrarier’: Reale Und Symbolische Konflikte Um Das Börsengesetz Von 1896.” Bankhistorisches Archiv/Banking and Finance in Historical Perspectives 39, no. 1 (2013): 73-90.Google Scholar
Gömmel, Rainer. “Entstehung Und Entwicklung Der Effektenbörse Im 19. Jahrhundert Bis 1914.” In Deutsche Börsengeschichte, edited by Pohl, Hans, 135–210. Frankfurt, Main: Knapp, 1992.Google Scholar
Goswami, Omkar. “Collaboration and Conflict: European and Indian Capitalists and the Jute Economy of Bengal, 1919–39.” Indian Economic and Social History Review 19 (1982): 141–179.Google Scholar
Goswami, Omkar. “Sahibs, Babus, and Banias: Changes in Industrial Control in Eastern India, 1918-50.” Journal of Asian Studies 48, no. 2 (1989): 289–309.CrossRefGoogle Scholar
Hansen, Per H. “Business History: A Cultural and Narrative Approach.” Business History Review 86, no. 4 (2012): 693–717.CrossRefGoogle Scholar
Harley, C. Knick. “Late Nineteenth Century Transportation, Trade and Settlement.” In The Emergence of a World Economy 1500–1914 , edited by Fischer, Wolfram, McInnis, R. Marvin, and Schneider, Jürgen, 539–617. Stuttgart: Steiner, 1986.Google Scholar
Levy, Jonathan Ira. “Contemplating Delivery: Futures Trading and the Problem of Commodity Exchange in the United States, 1875–1905.” American Historical Review 111, no. 2 (2006): 307–335.CrossRefGoogle Scholar
Lipartito, Kenneth J. “The New York Cotton Exchange and the Development of the Cotton Futures Market.” Business History Review 57, no. 1 (2012): 50–72.CrossRefGoogle Scholar
North, Douglass. “Ocean Freight Rates and Economic Development 1750–1913.” Journal of Economic History 18 (1958): 537–555.CrossRefGoogle Scholar
Popp, Andrew. “Custom and Spectacle: The Public Staging of Business Life.” In People, Places and Business Cultures: Essays in Honour of Francesca Carnevali, edited by Di Martino, Paolo, Popp, Andrew, and Scott, Peter, 29–54. Woodbridge, UK: Boydell Press, 2017.Google Scholar
Puri, Stine Simonsen. “Speculation in Fixed Futures: An Ethnography of Betting in between Legal and Illegal Economies at the Delhi Racecourse.” Ph.D. diss., University of Copenhagen, 2014.Google Scholar
Rischbieter, Julia Laura, and Jakob, Mark. “A Matter of Location? Traders and Manufactures of Colonial Goods in the 19th-Century Rhine Economy.” In The Rhine: A Transnational Economic History, edited by Banken, Ralf and Wubs, Ben, 147–174. Baden-Baden: Nomos, 2017.Google Scholar
Rothstein, Morton. “The International Market for Agricultural Commodities, 1850–1873.” In Economic Change in the Civil War Era, edited by Dsavid. T. Gilchrist and W. David Lewis, 62–71. Greenville, Denmark: Eleutherian Mills-Hagley Foundation, 1966.Google Scholar
Santos, Joseph. “A History of Futures Trading in the United States.” In EH.Net Encyclopedia, edited by Robert Whaples, March 16, 2008. http://eh.net/encyclopedia/a-history-of-futures-trading-in-the-united-states/.Google Scholar
Sieferle, Rolf Peter. “Transport Und Wirtschaftliche Entwicklung.” In Transportgeschichte, edited by Rolf Peter, Sieferle, 1–38. Berlin: Lit, 2008.Google Scholar
Sinha, H. “Jute Futures in Calcutta.” Economica 27 (November 1929): 330–337.CrossRefGoogle Scholar
Tilly, Richard. “Max Weber Und Die Börse.” Jahrbuch für Wirtschaftsgeschichte 2 (2002): 191–208.Google Scholar
Tomlinson, B. R. “Colonial Firms and the Decline of Colonialism in Eastern India 1914–47.” Modern Asian Studies 15, no. 3 (1981): 455–486.CrossRefGoogle Scholar
Walter, Rolf. “Die Kommunikationsrevolution Im 19. Jahrhundert Und Ihre Effekte Auf Märkte Und Preise.” In Kommunikationsrevolutionen: Die Neuen Medien Des 16. Und 19. Jahrhunderts, edited by North, Michael, 179–190. Cologne: Böhlau, 1995.Google Scholar
Weber, Max. “Die Technische Funktion Des Terminhandels.” In Max Weber Gesamtausgabe, Abt. 1 Schriften Und Reden, Bd. 5, 2 Halbband, edited by Borchert, Knut, 591–613. Tübingen: Mohr Siebeck, 2000.Google Scholar
Calcutta Gazette Google Scholar
Evening TelegraphGoogle Scholar
Pall Mall Gazette Google Scholar
Times of India Google Scholar
House of Commons Parliamentary Papers, LondonGoogle Scholar
Bericht der Börsen-Enquete-Kommission [Report], Börsen-Enquete-Kommission (BEK), BerlinGoogle Scholar
Stenographische Protokolle der Börsen-Enquete-Kommission [Minutes], BEK, BerlinGoogle Scholar
German Parliament (Reichstag), BerlinGoogle Scholar
British Library, LondonGoogle Scholar
Bundesarchiv, BerlinGoogle Scholar
Landesarchiv BerlinGoogle Scholar
Staatsarchiv HamburgGoogle Scholar
Staatsarchiv Hamburg Library, HamburgGoogle Scholar
Banner, Stuart. Speculation: A History of the Elusive Line Between Gambling and Investment. Oxford: Oxford University Press, 2017.Google Scholar
Bayly, Christopher A. Rulers, Townsmen, and Bazaars: North Indian Society in the Age of British Expansion, 1770–1870, 3rd ed. New Delhi: Oxford University Press, 2012.CrossRefGoogle Scholar
Birla, Ritu. Stages of Capital: Law, Culture, and Market Governance in Late Colonial India. Durham, NC: Duke University Press, 2009.Google Scholar
Brougier, Adolf. Der Kaffee: Dessen Kultur Und Handel. Mit Einem Anhang Über Den Terminhandel Im Kaffeegeschäft. Munich: Oldenbourg 1889.CrossRefGoogle Scholar
Christen, Walter. Der Hamburger Kaffee-Einzelhandel Und Seine Besondere Gestaltung Unter Dem Einfluß Des Standortes Am Importplatz. Harburg-Wilhelmsburg: Prieß, 1935.Google Scholar
Cohen, Allan R. Tradition, Change and Conflict in Indian Family Business. The Hague: Mouton, 1974.CrossRefGoogle Scholar
Cronon, William. Nature’s Metropolis: Chicago and the Great West. New York: W. W. Norton, 1991.Google Scholar
Deutschmann, Ludwig. Der Kaffee-Großhandel. Berlin: Hobbing, 1918.Google Scholar
Emery, Henry Crosby. Speculation on the Stock and Produce Exchanges of the United States. New York: Columbia University, 1896.Google Scholar
Evans, Richard J. Death in Hamburg: Society and Politics in the Cholera Years 1830–1910. New York: Penguin Books, 2005.Google Scholar
Freytag, Gunther. Die Usancen Im Hamburger Kaffeehandel. Erlangen: Höfer & Limmert, 1929.Google Scholar
Fuchs, Carl Johannes. “Der Waren-Terminhandel, Seine Technik Und Volkswirtschaftliche Bedeutung.” Jahrbücher für Gesetzgebung, Verwaltung und Volkswirtschaft im Deutschen Reich 15 (1891): 49–102.Google Scholar
Fürst, Max. Die Börse: Ihre Entstehung Und Entwicklung, Ihre Einrichtung Und Ihre Geschäfte. Leipzig: Verlag Der Modernen Kaufmännischen Bibliothek, 1913.Google Scholar
Goss, B. A., ed. Models of Futures Markets. London: Routledge, 2000.Google Scholar
Goswami, Omkar. Industry, Trade, and Peasant Society: The Jute Economy of Eastern India, 1900–1947. Delhi: Oxford University Press, 1991.Google Scholar
Grünwald, Julius, and Lilienthal, L.. Zum Terminhandel an Der Berliner Produktenbörse. Berlin: H. Lazerus, 1892.Google Scholar
Haller, Lea. Transithandel. Geld- und Warenströme im globalen Kapitalismus. Berlin: Suhrkamp, 2019.Google Scholar
Hardgrove, Anne. Community and Public Culture: The Marwaris in Calcutta. New Delhi: Oxford University Press, 2004.Google Scholar
Haynes, Douglas E. Small Town Capitalism in Western India: Artisans, Merchants and the Making of the Informal Economy, 1870–1960. Cambridge: Cambridge University Press, 2012.CrossRefGoogle Scholar
Hellauer, Josef. System Der Welthandelslehre. Ein Lehr- Und Handbuch Des Internationalen Handels, Bd. 1: Allgemeine Welthandelslehre. Berlin: Puttkammer & Mühlbrecht, 1910.Google Scholar
Jacobson, Eduard. Terminhandel in Waren (Aus Dem Holländ.). Rotterdam: Verlag Allgemeine Kaffeezeitung, 1889.Google Scholar
Jones, Geoffrey. Multinationals and Global Capitalism: From the Nineteenth to the Twenty-First Century. Oxford: Oxford University Press, 2005.Google Scholar
Kranke, Willy. Organisation Und Preisbildung Im Deutschen Kaffee-Großhandel. Königsbruck: Pabst, 1928.Google Scholar
Levy, Jonathan. Freaks of Fortune: The Emerging World of Capitalism and Risk in America. Cambridge, MA: Harvard University Press, 2012.CrossRefGoogle Scholar
Markham, Jerry W. The History of Commodity Futures Trading and Its Regulation. New York: Praeger, 1987.Google Scholar
Markovits, Claude. The Global World of Indian Merchants, 1750–1947: Traders of Sind from Bukhara to Panama. Cambridge: Cambridge University Press, 2000.CrossRefGoogle Scholar
McCloskey, Deirdre N. Bourgeois Dignity: Why Economics Can’t Explain the Modern World. Chicago: University of Chicago Press, 2010.CrossRefGoogle Scholar
Meier, Johann Christian. Die Entstehung Des Börsengesetzes Vom 22. Juni 1896. Munich: Scripta Mercaturae Verlag, 1992.Google Scholar
Preda, Alex. Framing Finance: The Boundaries of Markets and Modern Capitalism. Chicago: University of Chicago Press, 2009.CrossRefGoogle Scholar
Ratzka-Ernst, Clara. Welthandelsartikel Und Preise: Eine Studie Zur Preisbewegung Und Preisbildung. Der Zucker, Der Kaffee Und Die Baumwolle. Munich: Duncker & Humblot, 1912.CrossRefGoogle Scholar
Rischbieter, Julia Laura. Mikro-Ökonomie Der Globalisierung: Kaffee, Kaufleute Und Konsumenten Im Kaiserreich 1870–1914. Cologne: Böhlau, 2011.CrossRefGoogle Scholar
Rudner, David West. Caste and Capitalism in Colonial India: The Nattukottai Chettiars. Berkeley: University of California Press, 1994.CrossRefGoogle Scholar
Schönfeld, Karl. Der Kaffee-Engroshandel Hamburgs. Heidelberg: Rössler, 1903.Google Scholar
Simon, Harry Arthur. Die Banken Und Der Hamburger Überseehandel. Stuttgart: Union, 1909.Google Scholar
Sonndorfer, Rudolf. Die Technik Des Welthandels: Ein Handbuch Der Internationalen Handelskunde. Wien: Hölder, 1889.Google Scholar
Stäheli, Urs. “Spektakuläre Spekulation”: Das Populäre Der Ökonomie . Frankfurt, Main: Suhrkamp, 2007.Google Scholar
Steinkühler, Martin. Agrar- Oder Industriestaat: Die Auseinandersetzungen Um Die Getreidehandels- Und Zollpolitik Des Deutschen Reiches 1879–1914. Frankfurt, Main: Lang, 1992.Google Scholar
Stewart, Gordon T. Jute and Empire: The Calcutta Jute Wallahs and the Landscapes of Empire. Manchester: Manchester University Press, 1998.Google Scholar
Subramanian, Lakshmi. Three Merchants of Bombay: Trawadi Arjunji Nathji, Jamsetjee Jeejeebhoy, and Premchand Roychand: Doing Business in Times of Change. New Delhi: Allen Lane, 2012.Google Scholar
Taknet, D. K., Baswani, Veena, and International Institute of Management & Entrepreneurship [IIME]. The Marwari Heritage. Jaipur: IIME, 2015.Google Scholar
Tapolski, William. Der Kaffeeterminhandel. Hamburg: Gräfe & Sillim, 1896.Google Scholar
Timberg, Thomas A. The Marwaris: From Traders to Industrialists. New Delhi: Vikas, 1978.Google Scholar
Timberg, Thomas A. The Marwaris: From Jagat Seth to the Birlas. New Delhi: Allen Lane, an imprint of Penguin Books, 2014.Google Scholar
Tripathi, Dwijendra. The Oxford History of Indian Business. New Delhi: Oxford University Press, 2004.Google Scholar
van Gülpen, Alexander. Terminhandel Und Börse. Berlin: Walther, 1895.Google Scholar
Vogt, Annette Christine. Ein Hamburger Beitrag Zur Entwicklung Des Welthandels Im 19. Jahrhundert. Die Kaufmannsreederei Wappäus Im Internationalen Handel Venezuelas Und Der Dänischen Sowie Niederländischen Antillen. Stuttgart: Steiner, 2003.Google Scholar
Wetzel, Christoph. Die Auswirkungen Des Reichsbörsengesetzes Von 1896 Auf Die Effektenbörse Im Deutschen Reich, Insbesondere Auf Die Berliner Fondsbörse. Münster: Lit, 1996.Google Scholar
Ahuja, Narender L. “Commodity Derivatives Market in India: Development, Regulation and Future Prospects.” International Research Journal of Finance and Economics 2 (2006): 153–162.Google Scholar
Ahvenainen, Jorma. “Telegraphs, Trade and Policy: The Role of the International Telegraphs in the Years 1870–1914.” In The Emergence of a World Economy, 1500–1914, edited by Fischer, Wolfram, McInnis, R. Marvin, and Schneider, Jürgen, 508–516. Stuttgart: Steiner, 1986.Google Scholar
Appadurai, Arjun. “Afterword: The Dreamwork of Capitalism.” Comparative Studies of South Asia, Africa and the Middle East 35, no. 3 (2015): 481–485.CrossRefGoogle Scholar
Bairoch, Paul. “Geographical Structure and Trade Balance of European Foreign Trade from 1800 to 1970.” Journal of European History 3, no. 3 (1974): 582–588.Google Scholar
Baltzer, Markus. “Spekulation als Anstoß für Kapitalmarktregulierung in Deutschland im ausgehenden 19. Jahrhundert.” Economic History Yearbook 54, no. 2 (2014): 95–110.Google Scholar
Bayerdörffer, A. “Der Kaffee-Terminhandel: Ein Beitrag Zur Geschichte Der Neueren Entwicklung Der Börsengeschäfte Mit Waren.” Jahrbücher für Nationalökonomie und Statistik N.F. 56, no. 5 (1891): 641–684, 840–874.Google Scholar
Bear, Laura, Birla, Ritu, and Puri, Stine Simonsen. “Speculation: Futures and Capitalism in India.” Comparative Studies of South Asia, Africa and the Middle East 35, no. 3 (2015): 387–391.CrossRefGoogle Scholar
Birla, Ritu. “Speculation Illicit and Complicit: Contract, Uncertainty, and Governmentality.’ Comparative Studies of South Asia, Africa and the Middle East 35, no. 3 (2015): 392–407.CrossRefGoogle Scholar
Borchardt, Knut. “Einleitung.” In Max Weber Gesamtausgabe. Abt. 1 Schriften Und Reden, Band 5, 1. Und 2. Halbband: Börsenwesen. Schriften Und Reden 1893–1898, edited by Borchardt, Knut, 1–114. Tübingen: Mohr Siebeck, 1999.Google Scholar
Buchner, Michael. “Möglichkeiten und Grenzen staatlicher Finanzmarktregulierung: Die Reaktionen der Berliner Fondsbörse auf die Einschränkung des Terminhandels in Wertpapieren durch das Börsengesetz von 1896.” Archiv für Sozialgeschichte 56 (2016): 189–217.Google Scholar
Burhop, Carsten, and Gelman, Sergey. “Taxation, Regulation and the Information Efficiency of the Berlin Stock Exchange 1892-–1913.” European Review of Economic History 12, no. 1 (2008): 39–66.Google Scholar
Carlton, Dennis W. “Futures Markets: Their Purpose, Their History, Their Growth, Their Successes and Failures.” Journal of Futures Markets 4, no. 3 (1984): 237–271.CrossRefGoogle Scholar
Engel, Alexander. “Buying Time: Futures Trading and Telegraphy in Nineteenth-Century Global Commodity Markets.” Journal of Global History 10, no. 2 (2015): 284–306.CrossRefGoogle Scholar
Engel, Alexander. “Futures and Risk: The Rise and Demise of the Hedger-Speculator Dichotomy.” Socio-Economic Review 11, no. 3 (2013): 553–576.CrossRefGoogle Scholar
Engel, Alexander. “‘Ist Nämlich Der Ganze Spekulationsverkehr Erst Einmal in Einen Krankhaft Erregten Zustand Hineingerathen…’: Pathologien Der Börse Im Späten 19. Jahrhundert.” Jahrbuch für Wirtschaftsgeschichte / Economic History Yearbook 57, no. 2 (2016): 333–365.CrossRefGoogle Scholar
Findlay, Ronald, and O’Rourke, Kevin H.. “Commodity Market Integration, 1500–2000.” In Globalization in Historical Perspective, edited by Bordo, Michael D., 13–64. Chicago: University of Chicago Press, 2003.CrossRefGoogle Scholar
Garbade, Kenneth D., and Silber, William L.. “Technology, Communication and the Performance of Financial Markets 1840–1975.” Journal of Finance 33, no. 3 (1978): 819–832.CrossRefGoogle Scholar
Gehlen, Boris. “‘Manipulierende Händler’ Vs. ‘Dumme Agrarier’: Reale Und Symbolische Konflikte Um Das Börsengesetz Von 1896.” Bankhistorisches Archiv/Banking and Finance in Historical Perspectives 39, no. 1 (2013): 73-90.Google Scholar
Gömmel, Rainer. “Entstehung Und Entwicklung Der Effektenbörse Im 19. Jahrhundert Bis 1914.” In Deutsche Börsengeschichte, edited by Pohl, Hans, 135–210. Frankfurt, Main: Knapp, 1992.Google Scholar
Goswami, Omkar. “Collaboration and Conflict: European and Indian Capitalists and the Jute Economy of Bengal, 1919–39.” Indian Economic and Social History Review 19 (1982): 141–179.Google Scholar
Goswami, Omkar. “Sahibs, Babus, and Banias: Changes in Industrial Control in Eastern India, 1918-50.” Journal of Asian Studies 48, no. 2 (1989): 289–309.CrossRefGoogle Scholar
Hansen, Per H. “Business History: A Cultural and Narrative Approach.” Business History Review 86, no. 4 (2012): 693–717.CrossRefGoogle Scholar
Harley, C. Knick. “Late Nineteenth Century Transportation, Trade and Settlement.” In The Emergence of a World Economy 1500–1914 , edited by Fischer, Wolfram, McInnis, R. Marvin, and Schneider, Jürgen, 539–617. Stuttgart: Steiner, 1986.Google Scholar
Levy, Jonathan Ira. “Contemplating Delivery: Futures Trading and the Problem of Commodity Exchange in the United States, 1875–1905.” American Historical Review 111, no. 2 (2006): 307–335.CrossRefGoogle Scholar
Lipartito, Kenneth J. “The New York Cotton Exchange and the Development of the Cotton Futures Market.” Business History Review 57, no. 1 (2012): 50–72.CrossRefGoogle Scholar
North, Douglass. “Ocean Freight Rates and Economic Development 1750–1913.” Journal of Economic History 18 (1958): 537–555.CrossRefGoogle Scholar
Popp, Andrew. “Custom and Spectacle: The Public Staging of Business Life.” In People, Places and Business Cultures: Essays in Honour of Francesca Carnevali, edited by Di Martino, Paolo, Popp, Andrew, and Scott, Peter, 29–54. Woodbridge, UK: Boydell Press, 2017.Google Scholar
Puri, Stine Simonsen. “Speculation in Fixed Futures: An Ethnography of Betting in between Legal and Illegal Economies at the Delhi Racecourse.” Ph.D. diss., University of Copenhagen, 2014.Google Scholar
Rischbieter, Julia Laura, and Jakob, Mark. “A Matter of Location? Traders and Manufactures of Colonial Goods in the 19th-Century Rhine Economy.” In The Rhine: A Transnational Economic History, edited by Banken, Ralf and Wubs, Ben, 147–174. Baden-Baden: Nomos, 2017.Google Scholar
Rothstein, Morton. “The International Market for Agricultural Commodities, 1850–1873.” In Economic Change in the Civil War Era, edited by Dsavid. T. Gilchrist and W. David Lewis, 62–71. Greenville, Denmark: Eleutherian Mills-Hagley Foundation, 1966.Google Scholar
Santos, Joseph. “A History of Futures Trading in the United States.” In EH.Net Encyclopedia, edited by Robert Whaples, March 16, 2008. http://eh.net/encyclopedia/a-history-of-futures-trading-in-the-united-states/.Google Scholar
Sieferle, Rolf Peter. “Transport Und Wirtschaftliche Entwicklung.” In Transportgeschichte, edited by Rolf Peter, Sieferle, 1–38. Berlin: Lit, 2008.Google Scholar
Sinha, H. “Jute Futures in Calcutta.” Economica 27 (November 1929): 330–337.CrossRefGoogle Scholar
Tilly, Richard. “Max Weber Und Die Börse.” Jahrbuch für Wirtschaftsgeschichte 2 (2002): 191–208.Google Scholar
Tomlinson, B. R. “Colonial Firms and the Decline of Colonialism in Eastern India 1914–47.” Modern Asian Studies 15, no. 3 (1981): 455–486.CrossRefGoogle Scholar
Walter, Rolf. “Die Kommunikationsrevolution Im 19. Jahrhundert Und Ihre Effekte Auf Märkte Und Preise.” In Kommunikationsrevolutionen: Die Neuen Medien Des 16. Und 19. Jahrhunderts, edited by North, Michael, 179–190. Cologne: Böhlau, 1995.Google Scholar
Weber, Max. “Die Technische Funktion Des Terminhandels.” In Max Weber Gesamtausgabe, Abt. 1 Schriften Und Reden, Bd. 5, 2 Halbband, edited by Borchert, Knut, 591–613. Tübingen: Mohr Siebeck, 2000.Google Scholar
Calcutta Gazette Google Scholar
Evening TelegraphGoogle Scholar
Pall Mall Gazette Google Scholar
Times of India Google Scholar
House of Commons Parliamentary Papers, LondonGoogle Scholar
Bericht der Börsen-Enquete-Kommission [Report], Börsen-Enquete-Kommission (BEK), BerlinGoogle Scholar
Stenographische Protokolle der Börsen-Enquete-Kommission [Minutes], BEK, BerlinGoogle Scholar
German Parliament (Reichstag), BerlinGoogle Scholar
British Library, LondonGoogle Scholar
Bundesarchiv, BerlinGoogle Scholar
Landesarchiv BerlinGoogle Scholar
Staatsarchiv HamburgGoogle Scholar
Staatsarchiv Hamburg Library, HamburgGoogle Scholar