Jump to ContentJump to Main Navigation
The Financial Crisis of Abolition$
Users without a subscription are not able to see the full content.

John Schulz

Print publication date: 2008

Print ISBN-13: 9780300134193

Published to Yale Scholarship Online: October 2013

DOI: 10.12987/yale/9780300134193.001.0001

Show Summary Details
Page of

PRINTED FROM YALE SCHOLARSHIP ONLINE (www.yale.universitypressscholarship.com). (c) Copyright Yale University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in YSO for personal use.date: 20 September 2021

Reflections on Inflation

Reflections on Inflation

(p.132) Chapter 9 Reflections on Inflation
The Financial Crisis of Abolition

John Schulz

Yale University Press

This chapter describes the pressure that arose from certain groups of planters to make available medium-term credit for agriculture. The two prime ministers in power after abolition, Joao Alfredo and the viscount of Ouro Preto, advanced funds to the planters through the banking system, and, taking advantage of a favorable international situation, permitted banks to issue banknotes convertible into gold. Ouro Preto, who governed during the final five months of the empire, sought to regain the planters' allegiance to the monarchy by lending them large amounts of public funds. Although these loans saved neither the declining coffee barons of the Paraiba Valley nor the monarchy itself, easy money provoked a speculative boom known as the Encilhamento.

Keywords:   medium-term credit, agriculture, Joao Alfredo, banking system, banknotes, gold, Ouro Preto, coffee barons, Encilhamento

Yale Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us.