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CONNECTIONS AND NETWORKS IN SPAIN OF A LONDON MERCHANT-BANKER, 1800-1850*

Published online by Cambridge University Press:  14 June 2013

Manuel Llorca-Jaña
Manuel Llorca-Jaña*
Affiliation:
Centro de Estudios de Historia Política (Universidad Adolfo Ibáñez). [email protected]
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Abstract

This paper deals with Anglo-Spanish trade and finances for the period c. 1810-1850. It concentrates on the business activities of a London merchant bank (Huth & Co. or Huth) with Spain during this period by paying special attention to the support given by Huth to the many bilateral trades between Spain and Britain in which the company participated. It also focuses on the support given by Huth to much trade in and out of Spanish ports but which did not go through British ports. This overall support included the provision of credit facilities, exchange rate brokerage, insurance services and commercial intelligence. In addition, the article covers the links between Huth and the Spanish crown, thanks to which the bank became an important conduit of Spanish investments in American securities before 1850. Huth was also the paymaster abroad for the Spanish state. In view of Huth's close connections to the Spanish economy during this period, it is perhaps surprising that this is the first study of this «Spanish» house in London.

Resumen

El presente artículo trata sobre las conexiones comerciales y financieras entre España y Gran Bretaña para el período 1810-1850. El mismo se concentra en las actividades de negocio de un mercader banquero con sede principal en Londres (Huth & Co.), y en particular en las relativas al apoyo prestado por el mismo a diversos flujos comerciales entre España y Gran Bretaña. Pero el artículo también brinda atención al suporte brindado a importaciones y exportaciones españolas que no pasaban por puertos británicos. Para estos fines Huth proveía muchos servicios a hombres de negocio en España y otros países, tales como crédito, seguros, e información comercial. Adicionalmente, este ensayo versa sobre los nexos entre Huth y la corona española, gracias a los cuales dicho banquero se convirtió en uno de los principales canales de inversiones españolas en valores financieros en los EEUU antes de 1850. Huth también estaba a cargo de pagar los sueldos en el extranjero de cónsules y diplomáticos españoles. Considerando las conexiones tan cercanas con la economía española durante este período, resulta sorprendente que sea éste el primer estudio sobre ‘casas españolas’ en Londres.

Keywords

Anglo-Spanish tradeAnglo-Spanish financesmerchant-bankers19th centurytransaction costsComercio Anglo-EspañolFinanzas Anglo-Españolascomerciantes-banquerossiglo XIXcostes de transacción

JEL classification

N83: Europe: Pre-1913 N73: Europe: Pre-1913 N23: Europe: Pre-1913
Type
Articles/Artículos
Information
Revista de Historia Economica - Journal of Iberian and Latin American Economic History , Volume 31 , Issue 3 , December 2013 , pp. 423 - 458
Copyright
Copyright © Instituto Figuerola de Historia y Ciencias Sociales, Universidad Carlos III de Madrid 2013 

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Footnotes

*

The author is grateful to Xabier Lamikiz for comments on an early draft, as well as to two referees of this journal, Xavier Tafunell, C. Ducoing, P. L. Cottrell, M. Carmagnani, H. V. Bowen, H. Klein, Rory Miller, B. Attard, M. Latham, B. Batiz-Lazo, Katharine Wilson, W. Clarence-Smith, and UCL Special Collections. This paper was generously funded by the Chilean Fondecyt (project no. 11100022) and Universitat Pompeu Fabra (Department of Economics & Business).

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