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SUMMARY:‘The Rothschild tobacco business in the nineteenth century: the 
 interplay between finance and commodities’ - William Gervase Clarence-Sm
 ith\, SOAS University of London
DTSTART:20220503T160000Z
DTEND:20220503T173000Z
UID:TALK173294@talks.cam.ac.uk
CONTACT:Gareth Austin
DESCRIPTION:After making a fortune during the French Wars of 1793 to 1815\
 , the Rothschilds might have limited their activities to pure finance\, bu
 t they continued to trade in physical products\, most extensively in the m
 iddle decades of the nineteenth century. Tobacco\, both leaf and manufactu
 res\, loomed large and long in these Rothschild dealings. One attraction o
 f tobacco was the monopolisation of imports in many countries\, allowing t
 he Rothschilds to bid for contracts. In contrast\, tobacco exports were gr
 adually liberalised in the course of the nineteenth century\, obliging the
  Rothschilds to purchase leaf and manufactures in increasingly competitive
  environments. The salience of tobacco was further related to a focus on l
 ending to governments\, with revenues from state tobacco monopolies as col
 lateral for loans\, and repayments sometimes made in kind. The Rothschilds
  then became involved in schemes to manage tobacco monopolies on behalf of
  governments\, beginning with the Spanish monopoly in the Philippines.\n
LOCATION:Audit Room\, King's College
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