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.
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, , 68. ,

, 69.

. , -
. . -
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, 1870 . 170 .
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, , 68
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 . , 1910 .
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, , . 72.

20 , 24%
, 21% , 18% , 16% ,
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, 8% .
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, , 18701913 . 1,81%
; 1,63% ; 1,45% ; 1,25% ;
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, ,
.

XVII .,
. 1638 1639 . ,
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. XIV,
, .

71

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. . . 3. . 22. / . .
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, 4.1 (. 4.1.4).

49

 0,824 1850 .
4,6 1901 .74 11,7% ,
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, . ( , , 10%) 2
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1900 .
14%, 1950 . 26%80,
,
74

Bonney R. The Apogee and Fall of French Rentier Regyme / R. Bonney // Paying for
the liberal state: the rise of public finance in nineteenth-century Europe [Ed. Cardoso J.,
Lains P. ]. Cambridge: Cambridge University Press, 2010. P. 97.
75
: . .
. 3 . . 2. .: - -. , 1959 / . .
. . 568.
76
. / . . :
- -, 1983. . 39.
77
. . . . . / . . : - . -, 1991. . 368.
78
. / . . http://lib.ru/INPROZ/ZOLYA/zola18_1.txt.
79
- . . , 18701918 / . . . .: - - , 1963. . 566.
80
. . / . . . .: - , 1959. . 343.

50

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, , . . ,
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1904 .: , ,
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81

. . .
/ . . . .: , 1948. . 253.
82
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83
. 24. 8. .: - . , 1904. .
168.
84
. : / . . .: .
, 1988. . 171, 173.
85
. . : / . . .
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86
. 1895. . 239. . 2. . 308

51

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, 889 92,
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1897 .,
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. 1897 .). ( ) . 87
. . / . . . .: . .
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88
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90
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91
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92
. . (18611900) / . .
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93
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52

 ( 1897 . 1 264 900 )

45 503 . (3,6% )94; ( 1 038 600
.) 26 148 (0,3% )95; ( 403 800
.) 6543 (0,2%)96; ( 247 700 .) 19 448
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, , 1913 1 99, 0,58%
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, 100, , , .
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, , , , , 1840 . , ,
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1897 . / . [
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. 206.
95
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1905. . 185.
96
1897 . / . [
.] . . . XLVII. . [-]:
, 1904. .
132133.
97
1897 . / . [
.] . . . XVI. . [-]: , 1904.
. 171.
98
1897 . / . [
.] . . . XLVI. . [-]:
,
1905. . 181.
99
Michie R. The London Stock Exchange / R. Michie. Oxford: Oxford University Press,
2004. . 4.
100
. . : 20- / . . . .: , 1996. . 148149.

53

 , ,
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101

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102
46 1913 .
103
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. . / . . .: , 1988. . 1721.

54


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57

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107
Casson M. A. Entrepreneurship in Britain, 18301900 / M. Casson, A. Godley // The
invention of enterprise: entrepreneurship from ancient Mesopotamia to modern times / Ed.
by David S. Landes, Joel Mokyr, and William J. Baumol. Princeton (New Jersey):
Princeton University Press, 2010. P. 214.

58

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108

Landes D. S. The Unboud Prometeus. Technical Change and Industrial Development

in Western Europe from 1750 to the Present / D. S. Landes. Cambridge: Cambridge
University Press, 1969 P. 336.

59

 ,
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1870 .
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(Berend I. An Economic History of Nineteenth Century Europe. Diversity and
Industrialization / I. Berend. Cambridge: Cambridge University Press, 2013. . 194).
110
-, : (Lamb C. The Africa House: The True Story of an English Gentleman
and His African Dream / C. Lamb. New York: Harper Perennial, 2005. 432 p.).

60


, .
1688 . , . ,
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, XVIII , (city banks), ,
(country banks), .
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, 1750 1760 .,
111.
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1810 . ( ) 28 , 1850 . 80 . , 1850 . 13 000 .
, ,
( ) (Mokyr J. The Enlightened Economy. An
Economic History of Britain 17001850 / J. Mokyr. New Haven: Yale University Press,
2009. P. 228229, 231).

62

 ( 1774 .
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. / . . .: , 1991.
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(Empire of the Seas), XVIII XIX

Imperium pelagi, 1730 . (Young E. Imperium Pelagi a Naval
Lyrick: Written in Imitation of Pindar's Spirit. Occasion'd by His Majesty's Return, Sept.
1729 and the Succeeding Peace / E. Young. L.: BiblioBazaar, 2010 72 p.).
116
Raynal A. A Philosophical and Political History of the Settlements and Trade of the
European s in the East and West Indies / A. Raynal. Vol. 6. London: T. Cadell, 1783.
P. 412.

68

 , . , , .


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. / . // : .: , 1990. . 44271. . .:
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. 395398

70


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Defoe D. The True-Born Englishman / D. Defoe.

http://www.luminarium.org/editions/trueborn.htm.
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125

Macleod C. The 1690s Patents Boom Invention of Stock Jobbing / C. Macleod //

Economic History Review. 1986. November. Vol. 39. . 4. . 549571.

77

 126. ,

, (
) 127.
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128.
Muscovy Company Mystery
Company of Merchant Adventurers for the Discovery of Regions,
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128
Asher G. M. Henry Hudson, the Navigator: The Original Documents in Which His
Career Is Recorded. London: Cosimo Inc., 2009 P. 255.
129
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78

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79

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81

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133

Bagehot W. Lombard Street: A Description of the Money Market / W. Bagehot.

London, 1873 (Reprint New York: Scribner, 2005, 2008). P. 37.

82

 5%.
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83

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140

Balen M. The King, the Crook and the Gambler. The True Story of the South Sea
Bubble and the Greatest Financial Scandal in History / M. Balen. New York: Harper
Collins, 2002. . 112.

90

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25 ).
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141

Swift J. he Bubble / J. Swift.

http://www.buyandhold.com/bh/en/education/history/2004/swift.html.

92

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1000 .
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142

Harris R. The Bubble Act: Its Passage and its effect on Business Organizations // R.
Harris// Journal of Economic History. 1994. September. Vol. 54. 3. P. 622.

93

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97

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(1695 . 1371 , 1698 . 2477).
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737, Hudsn`s Bay Company 14 (Parkinson J. War, Peace and he Rise of the
London Stock Market / J. Parkinson // The Political Economy of Empire in the Early
Modern World / Ed. S. A. Reinert, P. Roge. L.: Palgrave Macmillan, 2013. P. 131
132).
145
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, Protestant Mercury, .
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, Flying Post 67 .
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148

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, 2007. . 852854. , 1688
, ,
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102

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. 1707 1697 ., ,
, South Sea Company 1720 .

Jonathan`s Coffee House.

, 1762 150
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.
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149

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103

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150

(demutualization),
, , , (, , )
. , (, ),
, . .
151
Hancock D. Citizens of the world. London merchants and the integration of the British
Atlantic Community, 17351788 / D. Hancock. Cambridge: Cambridge University
Press, 1997. P. 258259.
152

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, , .
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104

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105

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.

106

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156.
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107

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1688 .
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157

Spieser P. Histoire de la finance: Le temps, le calcul, et les promesses / P. Spieser, L.

Belze. P.: Vuibert, 2005. . 257.

108

 1690
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. VIII

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, 158. (Compagnie des Indes), , .
, .
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158

Compagnie de la Nouvelle France,

1628 . .
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,
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. ,
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Canada, Compagnie du Castor, Compagnie de Levant, Compagnie du Nord ., , , IV 1673 ,
en nom collectif ( ), en
commandite ( ), en participation anonyme ( ).

109

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110


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113

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163

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114

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165
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115

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,

116

.
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168

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550 75 .
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.
170
Murphy A. John Law: Economic Theorist and Policy-Maker / A. Murphy. Oxford:
Clarendon Press, 1997. . 201.

117

, ,

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,
. ,

171

,
100 . 4 , 28 2 , 24 . 4 . 9000 , 2 10
025 . 1720 . 12 500
(Neal L. The rise of financial capitalism. International capital markets in the Age of Reason /
L. Neal. Cambridge: Cambridge University Press, 1990. P. 74).

118

 (rentes). ,
300 . 500
172.
1719 .
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300 .
.

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173
, 1719 . 159 , 25 1719 . 240 ,
240 ., 29 2729 . 360
., 6 1720 . 200 . , , . 1719 . 30 . ,
(Carswell J. The South Sea Bubble / J. Carswell. London: Cresset Press, 1960.
P. 101).

119

 174.

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.
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. ,
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174

, ,
- . 25 1720 . 100 .
180 . , . . 180 100 ( 1719 . 194 ),
(Hamilton E. John Law of Lauriston: Banker,
Gamester, Merchant, Chief / E. Hamilton // American Economic Review. 1967. Vol.
57. 2. P. 273276.)
175
. . // . . / . . . .: -, 2002. . 495.

120

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, 176.

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177
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126

 58 .

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182

. 24 1867 .
,
, , .
.

127

Caisse d`Escompte,
Nouvelle Compagnie des Indes,
, , ,
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,
,
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, Quincampoix,
, .

courratiers ( currere , ), V , 1304 .,
. 1530 ., ,
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.
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Compagnie des Indes, 10 1795 .
, . ,
.
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128

, (Passage de l`Opera).
1849 . , des
Italiens183.
, ,
.
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, ( - -).
60 agents de change,
, , 420 . ,
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, ,
184.
,
1848 .185, , 2 1805 . 17
1825. , 1840 , , . 1840- (60 1845 .)186.
, . .
, ,
183

// . 1874. 8. . 126.

1668 ., .
185
18491870 ., , 18711913 ., .
186
2 1805 ., 3 1810 ., 2 1815 ., 9
1820 ., 17 1825 ., 21 1830 ., 20 1835 ., 41 1840 ., 60 1845 . (Arbulu P. La
Bourse de Paris au XIXe sicle: efficience et performance d'un march financier mergent
/ P. Arbulu. Paris: ditions Connaissances et Savoirs, 2007. . 31, 37).
184

129

 ,
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,
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, V .
, , haute banque .

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. ,
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, . , ,
. , ,
187

. . / . . . .:
. . . , 1912. . 86.
188
Cassis Y. Capitals of Capital. A History of International Financial Centres, 17802005
/ Y. Cassis. Cambridge: Cambridge University Press, 2006. . 2425, 2930.

130


. ,
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131

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, , ,
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.
, 12 . . 192 24 1799

, .
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189

. . / . . //
. .: , 1998. . 362.
190
. / . // . 2 . . 1. .: , 1990. .
688689.
191

, .
192
- (17561841), 17991814 . (Gaudin,
Martin-Michel-Charles (17561841) ministre des Finances, duc de Gate.
http://www.napoleon.org/fr/salle_lecture/biographies/files/gaudin_ministrefinances.asp).

132

 ( 30 000 1000 ), 20 1800 . 14 1803 .

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193.
193

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133

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, , . 194, 23 1793 . , 1801 .
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. , . , , , ,

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.). , . .

, .

,
(canaux du Midi) 380 . , 180 d'Orlans
du Loing 1800 . , des salines de l'Est 388 .
(Branda P. Le prix de la gloire: Napolon et l'argent / P. Branda. Paris: Fayard, 2007.
. 383, 394395).
194

/
.
.

http://lib.ru/INPROZ/FLOBER/lexicon.txt_with-big-pictures.html.

134

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http://lib.ru/INPROZ/TEKKEREJ/fairy.txt.

135

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714 1802 . (24,62 ),
, 1320 1816 . (44,0 ). ,
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1816 . (1147,94 ). , 1805 . 51 , 1810
,
62,7 . 16,65 1805 . 3,48 . 1811
. 3,79 15,05, 19,23
27,26198.

197

, .
198
Branda P. Le prix de la gloire: Napolon et l'argent / P. Branda. Paris: Fayard, 2007.
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136

 181011
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, 199. ,
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.
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200
. . . 11 /. . .
http://lib.ru/TARLE/napoleon/part11.html.
201
. . / . . //
. .: , 1998. . 362.

137

 ,
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202
. . / . . . .: , 1997. . 61.

138


VI .
, .

, , , . . .
( 1832 .)
,
203.
VIII . .
.,
, , ,
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, . , . 204,
The Wealth of Nations205,
.
, . , .
203

. . / . . //
. .: , 1998. . 332.
204
1820 . . , .
205
. / . . .:
, 2007. 960 .

139

. . , ,
, .
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.
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. ,
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1840- , . Glynn, Halifax, Mills & Co, ,
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1840- , , (,
Foster & Braithwaite , 4200 1839 . 50650 1845 .).
, ,
( , , 51 ). 1830- 1840- (
1844 1845 .,
, 919
). . , , Mendelssohn & Co.

140

,
Credit Mobilier, , . Credit Financier and Mobilier of England, The
International Land Company, International Financial Society, General
Credit & Finance Company, European Bank
, , , , ,
206.
1825 . , 207.
1825 .
, 1830-
,
. ,
1844 ., ,
,
(, ). , , , 1840 90
140208. ,
N. M. Rotschild & Sons, Baring Brothers, J. S.
Morgan & Co,
, , .
. , .

,

206

1866 .,
Overend, Gurney & Company.
207
, ,
. (.
http://dic.academic.ru/dic.nsf/econ_dict/10850).
208
Anderson B. L. Another Victorian Capital Market: A Study of Banking and Bank
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 ,
.
, . ,

.
( 18501860- ).
- ( ,
1800 .; - , 1816 ., , 1860 .), .
, (
) . haute banque
parisienne, , ,
Jaques de Rotschild, ( ) , .
1800 . , (
) ,
1848 .
. 1862 . (Pereire) Credit Mobilier
.
, .
,
1807 ,
, .

142

, , 1688 ., . (Bubble
Act) 1720 ., ,
. ,
, . 1844 .
(Companies Act),
( )
. , 1862 .
.
V . ,
- . V ., ,
. : 1)
(societes en nom collectif), ; 2) (societes en
comandite), ( ) ,
,
( ); 3) (societes en participation anonyme),
joint-stock companies , (-

143

 ,
).
,
, . . 209.
.
1825 . Bubble Act ( 1720 )
, . 1834 . (Trading Companies Act), 1837 . (Chartered Companies Act), 1844
. (Joint Stock Companies),
. ,
-
.
1867 .,
,
210, .
,
,
, .

209

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1869
., 1870 ., 1873 , 1883 ., - 1906
, , 1917 .

144



1816 . (Caisse des Depots et Consignations), . ,
,

. 1817 . 300 .

.


(rentes)211, , ,

.

., , , .


.

, .
(rentes), 1817 .
,

, .
, . ( 38 206 ) 1817 . 5 8,41% .
.
211

VII .

145

 1822 .
.

. , , 18201830-
. - , ,
, , 212. ,

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, (
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, , ,
1830 .
213. ,
, .
1815 . ,
. ,
.
212
,
. , , ( , )
.
213
Palmade G. P. French Capitalism in the Nineteenth Century / G. Palmade, G. Holmes.
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 ,

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, . ,
, .





. , ,
. ,

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1815 . , 1819 . .
, ,
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147


. ( , , ) .

(Walter Boyd) 23
1792 ., (Henry Hope) 1794 ., (Du Pont)
1799 ., 1799 .

Boyd, Ker & Cie, , , (
). . 1793 . Boyd. Benfield & Co.
( ), - , 1793
.
. 1794 . . .
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.

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52,5 . .
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148

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, .

, , .
(
) 20 000 ,
, (Hannah Cohen)
-
, Goldsmids Salomons, .
1811 . , ( ) , , . (
, , , , ) , 214

.: Geisst C. Beggar Thy Neighbor. A History of Usury and

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149

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.

215

. / . . http://lib.ru/POEZIQ/BAJRON/donjuan.txt.

150

 1814 .
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217

Heine H. Ludwig Borne em Denkschnft / H. Heine // Samthche Schriften. Vol 4.

Munich, 1971. S. 28.
218
Heine H. Ludwig Borne em Denkschnft / H. Heine // Samthche Schriften. Vol 4.
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154


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219. 1809 .
219

Wilkie A. D. The Risk Premium on Ordinary Share / A. D. Wilkie // British Actuarial

Journal. 1994. 1, part 2. . 254.
, 1797 1810 . . ,
.
, 10 25 1784 .
70% ( ,
,
50%). (The Paper Pound of 17971821. Contains a Reprint of the Bullion

157

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. 1809 .
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. 29 1809 . Morning
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, Alliance Insurance Company.
(
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.
1815 .
, .
,
Committee Report / Ed. E. Cannan. 1919/ (reprint General Books LLC, 2010). P.
XLIV.
220
(Ricardo D. The high price of bullion, a
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56 p.).
221
C , ,
, .

158

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Fisher and P. Jackson, 1835. 544 p. P. 350.

160

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, 1793
1816 ., (
) 1573
.
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1814 . 1215 18171825 .
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225

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161

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).
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226
. Neal L. The
Financial Crisis of 1825 and the Restructuring of theBritish Financial System / L. Neal //
Federal Reserve Bank of St. Louise. Review. 1998. MayJune. P. 55, 56 (Figure 1).
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. 124).
227
. / . . http://bookz.ru/authors/golsuorsidjon/saga8.html.

162


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The Times. 1825. 27 August (. : . . . 3 . . 1. / . . . .: - -. -, 1959. . 329).

163

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. - / . // . . / .,
. . 12. , 135. http://fb2.booksgid.com/content/22/karl-marks-sobraniesochineniy-tom-12/135.html.

164

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165

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230

Michie R. The Global Securities Market. A History / R. Michie. Oxford: Oxford

University Press, 2006. . 67.

166

 1815 1830 . 76 . 1824

1825 . ( 56%) 37
231.
(, ,
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. 10% ,
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231

Jenks L. H. The Migration of British Capital to 1875 / L. H. Jenks. New York:

Knopf, 1927. P. 329. http://www.questia.com/library/book/the-migration-of-britishcapital-to-1875-by-leland-hamilton-jenks.jsp

167

Mexico 40 25% (10 40)

1825 ., , 115155 ;
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100 , , 5
50 , 10- ( ).
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. , . ,
232.
, , , , , , , , , , 232

The Parliamentary Debates from the Year 1803 to the Present Time [Ed. T, Hansard].
L.: T. Hansard & Pater Noster Press, 1826. Vol. XII (28. 02. 1825, 16. 03. 1825). P.
718, 1049; Vol. XVI. (5. 12. 1826). P. 244, 277.

168

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234
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. . http://lib.meta.ua/book/8126/.
235
,
1820- ( .
/ . . http://www.foxdesign.ru/aphorism/book/b_zap393.html).
236
Lewis W. A. Growth and Fluctuations, 18701913 / W. A. Lewis London: Allen &
Unwin, 1978. . 177.

169

 18241825 .,
1825 .237
, 1825 . (17701830) Bubble
Act, ,
1825 .
1820-
, , .
. Alliance Fire and
Insurance Company, ,
,
,
(Metropolitan Bath
Company) . . , .
,
, 1840- .238.
, . . American Colonial Steam Navigation Company, Colombian Pearl Fishery Association.
18241825 . 264
. 1825 .,
, 70 .

237

. Anderson R. Bagehot on the Financial Crises of 1825and 2008 / R.

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238
1824 1825 . 48 22 (Times. 1825. 30 Sept.).

170

 624
372 . 239 (
10
15%), ,
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. --, -
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), , ,
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Brothers ( ), Morryson, Cryder &
Co, 240.
239

Kindleberger C. A Financial History of Western Europe / C. Kindleberger. London:

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/ . , . . : , 2010. . 229.
240
. (18171909),
. ( 12 ). 1863 ., -

171



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.), , .
1880 . , 1881 .
, River Plate Trust, Loan & Agency Co, Mercantile Bank of River Plate. 1895 .
20 0,5 (Dakers C. A
Genius for Money. Business, Art and the Morrisons / C. Dakers. New Haven: Yale
University Press, 2011. . 212, 214215).

172

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. , , ,
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, . , 6%
200 . 30
. 15%,
. 23 1822 ., 241

Sinclair D. Sir Gregor Macgreror and the Land that Never Was: The Extraordinary
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173

 , .
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.

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.

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, 1824 .

174

 ( 1,2 ), (3,2 ), (4,3 ), - 1 . . 1825 .

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, ,
. ,
242.

, .

, 550 . 1819 . . . 890 . , . . 162% 243.
,
, .
. .
. , 242

78%,
30% . , -, . - 1824 . (Fodor G. The Boom that Never Was? Latin American
Loans in London 18221825 / G. Fodor // University of Trento, Italia. Department of
Economics Working Papers. 205. econpapers.repec.org/paper/trnutwpde/0205.htm.).
243
Dawson F. G. The First Latin American Debt Crisis: The City of London and the
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175

 , ,, . 1815 1859 . 14 43 ,
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176

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. , 1818 1852 . , , , 1,8 9,5
, 1825 . ,
, . 1899 .
41 .
245
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177

 ,

. 18261829 , , ,
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246.
246

, 1826 . , B. A.
Goldshmidt, 350 . , 400 . (Fodor G. The Boom that Never Was? Latin American Loans in London 18221825 /

178

 1820-
, 1820- ,
, ,
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Anglo-Mexican Company, 38
1824 158 1825.
, . , ,
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, . .
. , Vivian Grey (1828), , , ,

. - , , 1859 .
( ), .

G. Fodor // University of Trento, Italia. Department of Economics Working Papers.

205. econpapers.repec.org/paper/trnutwpde/0205.htm).

179


1825 . ,
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180

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Peter Pole & Co, 6 Williams & Co, Everett, Walker & Co, Sikes, Snaith & Co ).
,
, (Pole, Thornton & Co). (Henry Thornton, 17601815),
, 1815 -, 25
, 40 000 (
, 400
). - 400 . , . 247

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181

,
,
. -248. 73 770 , Wentworth,
Chaloner & Rishworth,
Pole, Thornton &Co.
1825 . , ,
, 249. - ,
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. .
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.
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.
1825 . Real
del Monte,
, 1550 200
( 400 ). 248

The Panic of 1825 // The Week. 2008. April 14.

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, , 1 .
.
( , )
, , ,
.
250
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182

 80%.
14 .
80 , 142,
224. 1 1825 . 1 1826 .
3 549 ( 1345
)251.

16%,
15%, . , ,
... 252.
,
. 253. .

254.
1825 .
V , ,
. ,
,
, . 1788 . ( ), , , . 1819 . . , , .
1820- 251

The Parliamentary Debates from the Year 1803 to the Present Time [Ed. T. Hansard].
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252
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. / . .
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183

 , 1825 .
.

, (
) , . 1825 . , ,

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1825 . ,
. , VIII . 1825
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184

 , . ,

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,
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. , , ,
.

. , ,
, .
1826 . ( ), , . Real del Monte 115
( 400 70),
Bolvar Mining Association, , , 28 1. 1828 . , Foreign Funds Market,
, 1829 . ,

18241825 ., .
Foreign Funds Market
, single
securities market, ( ) , , .
18251826 .,
, 1832 ., ,

,
. 12,8 . . 1820 .
26,5 . . 1830 200 . 1840 .255. 1820
255

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185

1830- , .
1825 .
1825 . ,
( ) ,
, , .
.

256.
1824 . 1825
. 257.

258.
,
. ,
, , , .

, 1820- . , (256

. 18151816 . . ( 28 1824 . 43
1825 .).
257
, ,
, ,
. 1825 .,
. , 34 ,
.
258
718 1823
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186

, ), . .
1826 . ,
. .
, ; 1825 . ( )
1826 .
.
1820-
( ),
259.
18241825 .
260.
22%, 12%.
1826 . ,
, ,
261.
( ,
) , , ,
( )
, . 259

1829 1825 . 60 120 . , 20

. 81 . (Guetter F. Statistical Tables Relating to the Economic Growth of
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260
( ) 11,6 1823 . 18,6 1825 .
,
.
( 9,3 ), . - 1826 .
300 (Times. 1826. March 4).
261
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187

 .
. 1826 .262
, 1825 .
...
50

, .
. 1826 . . . 1200
20,

1826 . 263.
1826 .
; ,
. , ,
.
,
.
.
, 1820- ,
;
. 262

Times. 1826. Febr. 25.

, ,
,
,

(Venturini K. Chronik des XIX Jahrhunderts, Das Jahr 1826 / K.
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263

188

 , ,
.
18261928 . 18291830 .
1826 . . . 1828 .
, . 1829 . , .
1833 . ,
18361837 .

, , 70% . .
30%, 18251836 .
.


,
(, 1828 .
).
, ,
-
. , 1829 . , .
, ,
. ,
264.
18281830 .
264

Smart W. Economic Annals of the Nineteenth Century. 2 Vols. Vol. 2. 19211830 / W.

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189

 . , , ,
, , 265. 1829
1830 . , (
).
. ,
, .
1830
.266 ,
-, , 1830 .
267.
18341836 . 1837 .
18341836 .
1834 . . ( ), , .
,
268.
18241825 ., 18341836 .
. ,
, , .
, 1826 . ,
265

Parliamentary debates. Vol. XXII (8. II. 1930). P. 235.

1830 . . 1830 .
. -, , .
267
Archives Parlementaires. Vol. LXIX (13. VIII. 1821). P. 190191.
268
18341836 . 71%,
89%, 35%.
266

190

. 1831 . 61
472 ; 1836 . 10 40 .
.
.
2050%,
100% .
, 269.

,
1830- .
, .
,
, 270.
, . , 1825
271.
1836 , , , , ( 1930-
10 , 1836 48).
,
, .
,
,
,
;
269

Parliamentary Debates. Vol. XXXIII (12. 05. 1836). P. 849, 852.

, ,
, 15 ,
(Annual Register. 1837. P. 183).
271
Parliamentary Debates. Vol. XXXII (11. 03. 1836). P. 203.

270

191


, 272.
,
1841 . 273.
1836 .
, ,
, .
, .
18351836 .,
300
135 (
15 ).
(88 ) 70 274.
(
,
) 1830- .
,
,

275.

272
. : - . . / .
. -. .: , , 1997.
. 110.
273
Mackay C. Extraordinary Popular Delusions And The Madness Of Crowds (1852) / C.
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274
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275
, 1830- , 1830 1838
. 733 . . 2,5 18301831 .
6,1 18321833 ., 7,1 18341835 . 36,4 18361837 . 1837
. 8,5 (Porter G. R. The Progress of the Nation in Its
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192


1835 . 1833
1834 .
. ,
, ( 100%).
, , .
1835 . ,
. , 1835 .
1836 . , , . , ,
, .

,
. -
8
1836 . 5,3 .
, 4%
5%,
, . ,
, . 1836 . , 276.
, . Agricultural and
Commercial Bank of Ireland (50 ), Northern and Central
Bank of England (38 ) .,
.
276

1836 .
1837 . 3040% (Bauniatian M. Geschichte der handelskrisen in
England im zusammenhang mit der entwicklung des englischen wirtschaftslebens / M.
Bauniatian. Munchen: E. Reinhardt, 1908. S. 294).

193

 1837 . 929 1836 1668

1837 . ( 79%). , 1837 . 3,8 . 277.

,
1837 ., ( 1825 .)
,
1837 . . ,
1837 . 1825 .
, 1825 .
( ,

), , 1830-
,
278.
1830-
, .
. ,
.

277

53,4 1836 . 42,1 1827 . 12,4 4,7 , . .

2,5 13,7
11,7 , 8,3 7,0 , 9,0 7,0 .
278
. . -, 1825
1827 ., . ,
1825 . , 1836 - , 1837 .
(- . .
. , / . . . .: - . . , 1914. . 6263).

194

 1837 . .
50 .
. , ,

279. ( 1836 1837 .
24%; 25%). .
,
280.
1837 . 1825 .
, . 1837 . 20%, 1825 . 31%.
1837 . ,
1843 .281.

, , .
1838 . 1839 . 75% , 9,6 2,4
. 6%, , 2 .
18411842 . , - . 1841 1842 . 27%,
11%, 25%, 279.
1844 .,
.

279

Annual Register. 1837. June. P. 5556/

1836 .
23 , 1838 . 2 .
281

1836 1842 .
600 . (Parliamentary Debates. Vol. LXIII (2. 06. 1842). P. 123).

280

195

 1837 .
1830- ,
, . , ,
, , , , ,
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65 .
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.

,
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282

Archives Parlementaires. 1836. T. C. 1. P. 84.

196

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. 760 1836 .283

, 284, 1837 . .
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1838 .
,
. 1838 .
, Banque Nationale de
283

Juglar C. Des Crises commerciales et leur retour periodique en France, en Angleterre,

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284
33%, 60%;
30% 71% ; 12% 35%.
50% 53% ( . . . 3 . . 1. / .
. . .: - -. -, 1959. . 405).

197

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, , , . 1837
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286
, , ,
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287
. - / . , . // . . 10. http://coollib.com/b/4710/read#t92.

198



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(Bank of North America)290, 1791 . - (Bank of New York) .
288

, , , .
, , , . , ,
, , . ,
, .
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, , ., Bank of the Manhattan Company, J. P. Morgan Chase. (Aaron Burr)
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201

 1791 . The Bank of the United

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-, , , ,
.
. 291
,
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1819 .
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, 1841 .
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82,3 . . ,
V ., ,
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, . 291

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.
- 1792 .
24 ,
- , (buttonwood )
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.
, - - (New York Insurance Company).

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. 1787 .
. , , , . , 1799 . .

.
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( 1815 . 23
, 1830 31), . - 1830 ., (, ) ,
. 1848 . -
New York Stock Exchange
(NYSE).
1819
1819 .
,
18151818 .

203

 1815 . 208
246, . 46 68
( 1815 .
- 1816 . ).
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. 1816 .
Second Bank of the United States.
1817 .,
.
, 1818 .
41 293. , , ,
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. , ,
. , ,

, ,

, -.
, . Second Bank of the United States
, .
18191821 .,

, .
1825 , , 1826 22%, 12%294. .

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204

 1830-
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,
.
( 1829
1837 .) 200

1830- 296.

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, , , .
, 1830-

, .
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.
. , , , , 1830 1836 .
295

1830 1837 . 266%, 47%,

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296
. . / . . . .:
, 1927. . 165.

205

 , , .
, 1830- . 1830- , , , , (
),

297.
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. 1830 1837 . 330 788, 2,5
. , , , 298.
1830-
.
297

18231832 . 1,3
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18361837 . 235
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206

 , , ,
, .
1837 .
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,
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, .
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.
.
,
. : ,
.

1836 . , 1816 . ( 1823 . , 299

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,
.
3 1836 ,
1832 . , .

30 ( 30%
, )
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, .
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1836 ,
, .
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30% .
, ,
10 , 3 300.
, ,
. , 3036%.
, , . 1837 .
, . , , .
300

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 , , . ,
,
.
1837 . .

, 1837 , ,
,
. ,
.
90% (
), , . ,
1837 ., 1840 6 301. ,
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20 25 , 35
, 1020 ,
50 .
,
, ,
, ,
302.
1837 ( 1837
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, , 301

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 . ,
;
; ; ,
303.
1840-
. 1838 . , ,
1839 . , . 18371841 . , 1
.
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. .
, .
, .

(Baring Brothers),
. , , , -
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. : . / : :
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210

).
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1840-
. 1830 . , (226)
, (206),
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1844 ,
,
. I
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,
306. , , 1843 . 1830- ,
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-
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( 1840- 17,1 23,2 )
. 1,35
( 1846 . ).
304

, 1841 . -
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, 18361846 . 30,4 40,7 , (
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)
, 307.
, 1847 . ,
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,

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307

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. 39
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, V V ( Gesellschaft
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.
, , 1802 .
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,
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, 1200
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. 1834 . ,
.
, 310. 1837 .
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, , , . : ,
, ,
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, ,
.
, ( ).
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216

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. , .
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4080%315.

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,
. ,
, 1840- .

, 34
.
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. - 1940- ,
. 18411842 .

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.
, ,
, .
, ,

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316.
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.) ,

.
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, -

316

- , . , , ,
, , , , , ,
; , , . , ; ,
, , ( . . / . . .: ,
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218

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. (
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, .

V .
,
. , 318.

, .
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.
,
.
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.
317

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.
,
.
319
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320
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219

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. , . ,
. . 321.


, , . ,
, .

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V .
,
.
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. , , -, .
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. ,

,
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Geld-Anstalt,
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322,
.
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322

, DiscontoGesellschaft, Dresdner Bank .

323
,
, , ,

221

 280 1762 .
,
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). , , , . , , - , 510 .

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1800 1806 .324.
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1798 . 1807 . 500
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. 1782 , 20 .
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, 20 .
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, . 103
, .
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. , ,
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,

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 330.
. 15
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100 500 100
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,
.
( 5
1) 1816 . (Oesterreichische Nationalbank),
(, ).

, 332,
1805 1809 .,
( ,
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, 1771 .
, 1771 , 330

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. 47. www.readoz.com/publication/read?i=1044088#page2.
332
1840- .

224

 1724 . ,
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.
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.

225

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1840- , , 1850- 1860- . . , , :
. -
333.

, ,
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.
, , ,
334.
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18431845 . , 1820- ,
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, ,

, , ,
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16
, ,
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, 9 . 56 . , , 21 ,
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226

 .
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, , .
, , .
, 335.

1840- , . 1830- , 1837
. . 18251840 . 1300 ,
18411848 . 6900 .

. ,
.
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. ,
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. ,
335

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,
, , , , . , .

227

1825 . Stockton & Darlington.

1820- , ,
.
,
.
,
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. 1831 .
Liverpool & Manchester Railway.
, . , , , . , .
1840- ,
, ,

, , . .336. .
,
, . , ,
,
. 337
336
18331837 . 23 . (Goldsmith R. W.
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,
.
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.
, , 1844 .
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, 50% , . 10%

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V ., 1830- ,
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1849 66%
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( .),
, , .

229

 .
, .
, .
. , . 1836 . 57
,
28 . ,
,
, ,
. ,
, , .
, , , .
,
, ,
,
341.
, Liverpool &
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. , , . , , 1837 .
.
.
341

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 2000 , .
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.
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. .
,
, 342.
,
, , ,
. 1840 .
, ,
Railway Times. 1845 ., ,
18 , ,
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1837 ., 1847 .
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 100 , , ,
10 344.
,
, , 1845 ., , 560 . ,
550 .
345. .
, , . 1825 1875 .
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, 89%, ( 1844 .
,
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, 1836 1847 . 67%,
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1836 1848 . 251 8203 , 2302
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 1840- - ,
. ,
, , .
18451846 ,
, , . 1840-
,
, .
, ,
, , .
, ,
, .
10% . , .
( ,
, , ), . ,
, , 348. 1844 .
Eisenbahnnetze der Erde / G. Sturmer. Bromberg: H. Heyfelder, 1872. S. 5859, 90,
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1827 1835 .
, 1836 . 29, 1845 120, 1846 272;
1847 170 ; ,
, 40 . 1844 .,
66, -

233

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. , ,
, 5% 10%,
. , 1844 . , 21 . .

234

( ) - , .
1845 ., ,
(
) 500%.
( ) 349. ,
,
,
.
.
,
, .
, . , ,
.

1845 . .
.
- ,
.
. 349

10%
( ), York & Newcastle : 1845 . 20% (10%+10), 1846 . 20% (10+10%), 1847 . 20% (10+10%),
1848 . 14% (8+6%); London & North Western: 1845 . 0, 1946 . 20%
(10+10%), 1847 . 17% (9+8%), 1848 . 14% (7+7%); London & South Western
17% (8%+9%), 18% (9+9%), 18% (9+9%), 8% (8+0%); Great Western
16% (8%+8%), 16% (8+8%), 15% (8+7%), 13% (7+6%); Midland 13% (6%+7%),
14,38% (7,38+7%), 14% (7+7%), 13% (7+6%); Southern Eastern 10,25% (5%+5,25%),
11,5% (5,25+6,25%), 12,5% (6,25+6,25%), 11% (6,25+4,75%) (Lewin H. Railway Mania
and its Aftermath: 18451852 (being a sequel to Early British railways) / H. Lewin.
New York: A. M. Kelley, 1968. P. 365).

235

 . 18431845
, 1846 . -
.
1846 .
350. , ,
.
,
.
1845 .
- , ,
, ,
. ,
,
.
1845 . ,
,
,
.

(
1112 1428),
350 700 ,
48 351.
, 350
Times. 1846. 16 Dec. ,
. .
, (Times. 1947. 5 Jan).
351
Smith A. The Bubble of the Age: Or, The Fallacies of Railway Investment, Railway
Accounts, and Railway Dividends / A. Smith. L.: Sherwood, Gilbert and Piper, 1848
. 20; Lewin H. Railway Mania and its Aftermath: 18451852 (being a sequel to Early
British railways) / H. Lewin. New York: A. M. Kelley, 1968. P. 116.

236

 500 ( 600 ), 1845 . ( 550 ). , .

1845 . , 3040%. .
. , ,
.
. 1845
, 352.
1845 ., 2,5 3%,
.
,
1846 . ( 40 ).
,
, , . 1846 .
60 .
, 1845 .
1846 .
,
. ,
, 1846 .
, 1845 .353.

352

Railway Speculations // Times. 1845 27 Oct.

1846 . ( 270) ,
, . 1846 .
5000 , 1847 . 1415 , 1848
373 , 1849 16 , 1850 7 .
353

237

 ,
. ,
,
354.
1846 .
,
.
1847 . 60% , 1846 .
, .
1846 .
1846 . (
30 ).
,
. 13,6
1846 . 9,2 1847 .
( 2,4% 1845 . 3%, 4%)
1847 . 5%.
. 2 ,
10 24 1847 ., 15%
( 4,5 ).
8%, 1213% .
1847 . ,
1825 .,
355. .

354

1 1843 . 2234 , 1845 . 2690 , 1846 .

2412 , 1847 . 2195 , 1848 . 1936 .
355
Tooke T. A History of Prices and of the State of the Circulation from 1792 to 1856 //
T. Tooke, T. Gregory, W. Newmarch. 6 vols. Vol. IV. L.: P. S. King and Son, 1928.
. 303, 306, 445.

238

 1847
1847 .
, .
1847 .
, .
.
, 13 , , . , 356.
.
, 25 1847 .
8%. 15%.357 ,
.

150 , , . , , 10%,
88%.
358.
356

, 20 10 . Royal Bank of Liverpool, Liverpool Banking Co, North and

South Whales Bank, Newcastle Union Joint Stock Bank .
2325 , (Evans D. M.
Commercial Crisis, 184748 / D. Morier Evans. London: Letts, Son & Steer, 1848. P.
75).
357
. . (18211938 .) / . . . .:
- , 1939. . 124.
358
205 1847 . 187
1847 ., 3% 91,5 85,5 . 1 1846 . 1 1850 . London and North Western 215 109, Great Western

239


,
. ,
. ,
, , 359.
,
360.


(George Hudson, 18001871).
, ,
York & North Midland Railway
, . 1827
30 000 , .
. , , ,
- , 1842 .
York & North Midland Railway. ,
.

195 58, South Western 150 61, Midland 150 45, York and North
Midland 210 34 .
359
Times. 1847. 30 Oct.
360
, . 606 1846 .
803 1847 ., 1182 1848 . 905
1849 . 626 1850 . , , 270 1846 . 34 1849 .; ,
, 132 4 . , , , 188 . 36
. .

240

 , ,
, . 1844 . , 30% ( 1000 ) .
,
.
, , . ,
, , .
,
. ,
,
, . 1844 1847 .

10% , ,
. , 1848 . 205 .
515 . , .. .

, .
,
, .
,
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),
2,5 ,
, .
1845 .
, 1848 ,
.
,
. , , , ,
-

241

 , . 1849 . .
, , (
), ( 1 ) . , 600 . .
, .
1865 .,
. 1871 .,
200 .
361. Joint Stock Companies Act
(1844) Companies Clauses Consolidation Act (1845)
,
,
. . 1840-
, Deloitte & Co.,
Cooper Brothers & Co., Price, Waterhouse & Co., W. D. Peat & Co.
,
,
361
, XI
(Domesday Book, 1086 ), .
, ( audio ). 1720 . South Sea Company.
, (Jacob Sawbridge) Turner & Co.
, , (George Caswell)
. (Charles
Snell) , Turner &Co,
.

242

 , .

18431847
., ,
18471848 . 1849 . (Railway Abandonment Act),
. , 70%
, ,

, .
,
,
, , ,
, 1849 .
.
362.
1852 . , ,

363 ,
. ,
, 362

1844 . , 25%
( 910 , 1844
1856 ., 219 ). ,
.
363
Times. 1847. 2 Dec.

243

 .
25%, 6 ,
.
.
9,2 ,
30
364.
18441850 .
9792 , 1856 .
5597 (57%). 1850 . 85% ,
70%. 2% 810% ;
.
,

.
1840- 1847 .
1830-
,
(
), . 1838 . 1039
1 , 1,5
365.
, , . , , , , 18431846 . , 1847 .
, 1840- , 1842 . 364

Economist. 1848 8 Jan. P. 34.

. . / . . . : , 1878 ( .: , 2000). . 100.
365

244

 ,
,
.
, , , , , . , 366.

,
, 1846 . 5000 ,
1848 . 1628 .
. , 1848 .
2,5 ,
.
,
.
,

, 80 .
.
.

.

, . , .
, , ,

366

. 1848 1850 . // . , . .
. 2- . . 7. www.informaxinc.ru/lib/marx/07.html.

245

 , 1844 1847 .
1,8 749 1329 .
, , . ,
.
,
.
,
.
25 30 300 . , . 1847 . (
Du Nord 400 000 )
.
, . . , 90% ,
367.
1847 . 30% 18331845 . ,

200 , , 300 ,
. 4%, 78%,
. .
. , -
.
, , .
,
, 367

, , , ( , ),
. ,
.

246

 368.

, . ,
,
, 1847 . , .
1847 . - . ,
, .
- .
, Banque de
France 1846 . 1847 . 252 78
. ,
25 , ,
50
.
1847 . .
Caisse du
Commerce et de lIndustrie ,
. 5000.
, 24 1848
. . - . , 1847 . , ( ), , ,
, 1848 .
, .

. ,
368

. / . .
.: - ,1908. . 44.

247


,
, ,
369.
, , .
, . , ,
. ,

, .
,
. 50%.


. 1838 ., , , ,
1851 .
,
, .

1846 .
. ,

. 370.
369

Times. 1848. 27 June

Times. 1946. 4 Dec. 1846 .
,
,
(Times. 1946. 4 Dec.).

370

248

 1847 . 1520%,
25% .
, 1846 . , ,
.
, ,
, 371.
18451846 . 1847 . . 1848
. , 1848 .
, , . , , , 1848 . , .
1848 . .
, , , , .

. , ,
, .

, 372.
,
, .

, , . , , . 1847 .
371

Times. 1946. 4 Dec.

Preussisches Handelsarchiv Wochenschrift fr Handel, Gewerbe und VerkehrsAnstalten. Berlin: W. Besser, 1849. S. 36.
372

249

 , .

, 1847 .,
, , , , , , , ,
, , , , , , , . , , , , -, ,
.
.
1840- , ,
373. 1822 ., Sciete Generale de Belgique 1835 1838 31
100 . . Banque de
Belgique ( 1835 .) 24 54 . 374.
,
1840- , . 1847 ., .
,
1840-
. 1840- ,
.
373
1830 . ( 1814 . , 1814 1830 . ). , ( , , )

.
374
Cameron R. A Concise Economic History of the World: From Paleolithic Times to the
Present / R. Cameron, L. Neal. Oxford: Oxford University Press, 2002. P. 229231.

250

 , (
fancies) , . 1847 . , .
Erie Railroad ,
, 375. , - ,
, 1847 .
1848 , , , , , 1847 ,
, .
1847 .
1847 . (
1825 . 1837 .) ,
. 1825 . ,
.

, . .
1837 ., , .
1847 .
, ,

, . , ( , 375
, . 1860- , , , (
) , ,
.

251

 ) , . 1847 .
,
. . ,
. ,
, . , ,

. :
, 376.


, . , .
, , . , , ,
.
, . , , ,
,
.

.
. .
, 377.
376

. // .,
. . . 7. . 250251. http://www.informaxinc.ru/lib/marx/07.html.
377

38 1830 . 260 1841 ., .

252

 ,


. , , ,
.

, , , . ,
. , , -, .
, , , 378. , ,
. ,
,
.

.
,
, .
,
, ,
379.
1830- , , -

378

30 000 1816 . 850

000 1830 . .
1828 . 28 , 1840
. 112 (Banner S. Anglo-American Securities Regulation:
Cultural and olitical Roots, 16901860 / S. Banner. Cambridge: Cambridge University
Press, 2002. P. 194, 254255).
379

253

 .
,
.,
. ,

(, , -, .),

, - , .
1820- ( , ),
.
, ,
1840- .
. , ,
. , ,
, , 1865 . 2000 . , , , .
.


380. ,
.

380

1861 .
, 100 1000 10% (2 .
20,1 .). 1000
0,25% (50 . ).
45 ( .
/ . . .: - , 2011. . 150151).

254

 , 381.

.
.,
.
( 1840- , 1880- )
. . .

10 (1825, 1837, 1847 .)
(18251826; 18371838; 18461847 .)
. , , , .

381

, 1841 ., ,
44 . , 1861 67 ., 1871 119 . (
, . 151).

255

(18481873 .)

1873 . ,
. , ,
, citoyen du monde
, .

, ,

, .
- , 1860
382. ,

( ),
, , .
1880 .
, , 6,8
.
, ,
382
, 1848 . III
. , ,
.
30% 15%, .

256

 ,
. ,
. , .

1850-
1850-
,
,
.
, .
6% , , .
; 1860- . 1950- , 1857 , 383. , 1850- , ,
. 384. ,
383

1850 1860 .
38,6 . 108 . , 15,1 .
53,9 . ; 23,5 . 51,9 . .
66,6% , 92,1% , 97,5% , 117,3%
; 62,7; 39,9; 144,3 152,4%
( . . /
. . . .: . - , 1954. . 103, 106).
384
1847 1857 . 52%, 156%, 123%, 52%; 83% ,
10% , 130% , 68% , 21% .

257

 ,
1840- 13% 1850-

.
, .
1851 . ( 14 ), 1855 . (24
. ), 1862 . (29 . ), 1867 .
(50 . )385.
1857 .
1857 ., ,
, , , . ,
,
. 386. ,

, 36 387.
1857 . 700 103% , 85% , 98% , 113%
, 15% .
12,6 1847 . 38,2 1853 . (Porter G.
R. The Progress of the Nation in Its Various Social and Economic Relations from the
Beginning of the Nineteenth Century / G. R. Porter. London: John Murray 1851. 360,
363. Statistical abstract for the United Kingdom in each of the last fifteen years, from
1853 to 1867. L.: Great Britain Parliament. House of Commons, 1868. P. 54).
385
Carandini G. Racconti della civita capitalista. Dalla Venezia del 1200 al mondo del
1939 / Carandini G. Roma: Laterza, 2012. . 348349.
386
Evans D. M. Commercial Crisis, 184748 / D. Morier Evans. London: Letts, Son &
Steer, 1848. . 38.
387
; , , , . ., , , , ... , (
. 1858. 19. 3 .).

258

. , , ,
, . 1857 . ,
... ...
388.
18571858 . , , . 1857 . . , . ...
.
; ,
,
... ;
, ;
, 389.
1857 .,
, .
1825 . ,
, , 1857 .
. 1857 . ,
, .

, ... , ,
, ...
-

388

Preussisches Handels-Archiv. 1858. 2 Halfte. S. 167171.

;
; , , ,
; , , ,
.
(Die Verkehrskrisis des Jahres 1857 //
Preussische Jahrbucher. 1858. I. S. 97).
389

259

 ,
, 390.
, . ( 1850- )
. 1850- ,
Credit Mobilier, . , ,
( , )
.
1860-
1860 .
. ,
, .
,
.
1860- ,
, ,
1850- 391. ,
. (
, )
, ( 200 1847 .

390

, . 1858, . . 221222.
75 .
, 22,4 . ; 7,6; 8,2;
6,7; 3,9.
391

260

315 1857 . 502 1867 .)392. , , 1,5 1855

. 3,4 393. , .
1838 1848 .
4,0 29,6 . , 1849 1858 . 89,1 . 394. 1857 .
600 (16 ),
70% ( 10 ).
1840- ,
.

, ,
,
. 1860-
,
.
, 1860- ,
1840- .

. ,
, .
... ,
395.
392

Commerce and Industry: Tables of statistics for the British Empire from 1815. Edited
by William Page. L.: Constable and Co., Ltd., 1919. P. 170.
393
ubner O. Jahrbuch fur Volkswirtschaft und Statistik / O. ubner. Leipzig: H.
Hubner Verlag, 1857. S. 84.
394
( 3,0 . 1938 . 10,2
. 1848 . 43,0 . 1858 . (
, 1840-
(Sturmer G. Geschichte der Eisenbahnen: Entwickelung und jetzige
Gestaltung smmtlicher Eisenbahnnetze der Erde / G. Sturmer. Bromberg: H. Heyfelder,
1872. S. 59, 90, 125, 149, 211).
395
The Economist. 1866. 1 Sept. P. 1027.

261


Credit Mobilier Bank fur Handel und Industrie , . Credit Mobilier,

-, , , .

.
1850- ,
, ,
. , , , , - .
, - , . , , ;
. 300 ,
1850- , .


.
,
,
. 1850-
, .
1850- 1860-
,
,
.

262

, , , Credit Mobilier.
, , , , .
,
, .
18 43 .
18511857 . 824
1416, 445 684 ;

, 9 29; 8 . -
Banque de France , 1,8 5,6
396.
,
. ., ,
,
.
... -
... 397.
,
,
. ,
. . ,
.

396

Rosenberg H. Die Weltwirtschaftskrisis von 18571859 / H. Rosenberg. Stuttgart

Berlin: W. Kohlhammer, 1934. S. 90, 9395; Guetter F. Statistical Tables Relating to
the Economic Growth of the United States / F. Guetter, A. McKinley. Philadelphia:
McKinley Pub. Co., 1924. . 27.
397
The Times. 1866. 14 May.

263

 ,
, .
, . 1854 . 23 . , 1857 .
100 . . 10 . 900 . 398.
, , 100 , 400 . 399.
, ,

400.
.
,
. ...

... ,
,
, , , , , 401.

. ( ,
).
, . I ; .
398

Evans D. M. The History of the Commercial Crisis 1857 1858 and the Stock
Exchange Panic of 1859 / D. M. Evans. L.: Groombridge, 1859. P. 7374.
399
Revue Contemporaine. 1858. 2 serie, T II. P. 555.
400
The Times. 1858. 15 Jan.
401
The Times. 1866. 14 May.

264

 .

.
.
.
402, . .
. , , .
, .
, , ! , , , , , , 403.

18501860-
(, 1870 )
,
. . 1850- 1860-
,
.
( ) , , .
402
I . ( 3% 2,75% 1899 .
2,5% 1903 .; , ,
4,5% 3,7% 1903 .) (Homer S. A. A History of Interest Rates / S.
Homer, A. Sylla. New Brunswick: Rutgers University Press, 1996. P. 192).
403
. .
http://www.aai.ee/~vladislav/poesia/index1.html?http://www.aai.ee/~vladislav/poesia/rus/
copies/poets/Blok_Kov.html.

265

, , 404. , , . 1855 . 14 . , 80 . 1851 . - , 1858 . . 1860-

-405.

.

, . , .
,
. ,
(, ,
, 8 1865 ., 30% 18 ).
, . 1844 . The Economist, , ,
. 1850-

La Semaine Financiere. 404

Standage T. The Victorian Internet: The Remarcable Story of the Telegraph and the
Nineteenth Century`s On-Line Pioneers / T. Standage. N.Y.: Walker and Co, 1998.
P.VIII.
405

(51,2%), (15,15%) (Wenzlhuemer R.
Connecting the Nineteenth-Century World: The Telegraph and Globalization / R.
Wenzlhuemer. Cambridge: Cambridge University Press, 2013. . 262).

266


,
. 1873 . -
L`Economiste Francais.
, . 1856 .
Manuel des Fonds publics et des societes par
actions, , .
( 1883 .
). 1863 . The Economist
Investors Monthly
Manual.
, ,
.

, ( , .)
.
, , (, , ), , , , , . ,
, ,
,
.

267

(18371901)
. , 406.
,

, . , ,
,
407.
, ,
.
- .

18501870-
,
I .
,
. 1846 . ,
1853 . ; 10% 408. 1850-
406

. . . 1 (19111914). www.onisland.net/History/Churchill/WorldCrisis/WWC_book_1.htm.
407
, : ! :
; . ?
-, , . ( . / . . . 3. http://ilibrary.ru/text/475/p.1/index.html).
408
1846 .
, 1852 . . 1852 .

268


18571860 . 20% ,
18471857 . 40%409.

,
410, , .
, 1848 1873 . . 2,5% (
I . 1,52%).
1,2% ,
3,5%411.
,
( 1848 .) ,

, ,
.
. ,
, .
412.

(20% 1850 ., 25% 1825 .).
( , , , ).

, 1860 .
, .
409
Mulhall M. The Dictionary of Statistics / M. Mulhall. L.: Routledge, 1909. P. 369.
410
I
, , 1869 .
. , ( 113 29 ), ( . / . . .: , 2010. . 198, 201).
411
Bairoch P. Europes Gross National Product: 18001975 / P. Bairoch // Journal of
European Economic History. 1976. 5. . 288.
412
. . . 4. . 4 / . . : , 2012. . 8384.

269

 , , -, ,
, .
, .
.
, (
,
, ),
,
.
413. ,
1840- , 18501857 .
( ). ,
1840- 1850-

40% . , .
, , 18511856
., 414.
, .
, ,
413

18311856 . 10,4% ( 18001830 .

10,3% ). 0,9% ( .
1,1%), 2,2% ( 18001830 . 1,7%).
1860- 7,2%
, 0,9% , 4,5% (Lee C. H. The British economy
since 1700: a macroeconomic perspective / C. H. Lee. London: CUP Archive, 1986. P.
51).
414
. / . . .: , 1928.
. 119120.

270

. ( )
.

( ),
I .

,
,
, , .


.
, -.

415.
,
, . ,
1851 .416, . . ,
, , , .
, , .

. 415

. . . 1 (19111914). www.onisland.net/History/Churchill/WorldCrisis/WWC_book_1.htm.
416
Ferguson N. The House of Rotschild. Vol. 2 / N. Ferguson. N. Y.: Penguin Books,
2000. P. 65.

271

 ,
1820- , .
, , ,
. ,
. , , . .
,
, . ,
, ,
( ) ,
, 417.

, . 18481849 .
, , , ,
.
18711872 . -
- 18701871 . 1871
., .
120 (
13 ).
,

; ,
, 418. -

417

King W. History of the London Discount Market / W. King. L.: George Routledge &
sons, 1936. P. 264.
418
. . 1859 // . .
: 15 . .: ,
1949. . 6: . 155187.

272

 419

420.

1855 . 409 1186 ,
421.
, . ,
. (Joint Stock Banks)422.
(Merchant Banks)423.
Baring Brothers. (Colonial
Banks)424. (Private Banks)425
Glyn, Mills, Currie & Co.
(Discont House)426.

, .
419

. 1833. 13. . 517.

. 1856. . 5. . 181.
1853 . Charter Bank , , ; 1862 . Standard Bank of British South Africa; 1865 . Hong
Kong Shanghai Bank .
422
Barclay &Co, Capital and Counties Bank, Lloyds Bank, London and County Banking
Company, London and Provincial Bank, London and South Western Bank, London and
Westminster Bank, London City and Midland Bank, London County and Westminster
Bank, London Joint Stock Bank, National Provincial Bank of England, Union of London
and Smiths Bank.
423
Baring Brothers & Co, Brown, Shipley & Co, Erlanger & Co, Fleming & Co, Hambro
& Son, Kleinwort, Sons & Co, Morgan, Grenfell & Co, N. M. Rotschilds & Sons, J.
Henry Schroder & Co .
424
Anglo-Egyptian Bank, Anglo-South American Bank, Bank of Australasia, Chartered
Bank of India, Australia and China, Hongkong and Shanghai Banking Corporation,
London and Brazilian Bank, London and River Plate Bank, London Bank of Australia,
Mercantile Bank of India, National Bank of Egypt, National Bank of India, Standard Bank
of South Africa, Union Bank of Australia.
425
Cocks, Biddulp & Co, Coutts & Co, Cox & Co,
Glyn, Mills, Currie & Co, C. Hoare & Co, Holt & Co, Martins Bank Limited .
426
Alexander & Co Limited, Allen, Harvey & Ross, Brightwen & Co, R. Cunliffe & Co,
Hohlet & Co, Kind and Foa, White and Shaxcson.
420
421

273


. (Clearing Banks) . () . (merchant banks) ,
.
1870 ,
,
, ,
427,
. ,
( ) ,
. ,
428.
( ),
, .

, 1826 1833 .,
.
,
429.
427

Bagehot W. Lombard Street: A Description of the Money Market / W. Bagehot.

London: E. P. Dutton, 1910. P. 269.
428
1810 . 780 , 1825
1826 . 554, 1844 . 273, 1884 . 172, 1904 . 35 (Cassis Y. City Bankers,
18901914 / Y. Cassis. Cambridge: Cambridge University Press, 1994. . 16).
429
1891 . , .
Glynn, Mills, Currie & Co ( 1,5 , 14,043
), Barclay, Ransom & Co (1,0 7,969 ), Coutts &Co (1,0
6,365 ). London and
Westminster Bank (4,445 26,123 ), London Joint Stock Bank (2,963
11,359 ), Union Bank of London (2,555 14,338 ). 18911914 .
. London and Midland Bank
8,125 1891 . 125,732 1914 ., Lloyds Bank 23,295
117,657 ; Barclay & Co 31,715 61,880 . ( 3000 ) Barclay & Co 70%. -

274

 , , . , ,
(accepting houses).
, 430.
1850-
1847 . . .
,
. , , . ; 431.
18481849 .


, . ,
?
,

.

. 19011904 ., Lloyds Bank
26,3% , Union of London and Smiths Bank 25,4%, London Joint Stock
Bank 16,9%, Midland Bank 15,8%, National Provincial Bank 10% (Cassis Y.
City Bankers, 18901914 / Y. Cassis. Cambridge: Cambridge University Press, 1994.
. 20, 47, 70).
430
1914 .
Kleinwort, Sons & Co ( 4,431 , 13,6
), J. Henry Schroder & Co (3,0 11,6 ), Baring Brothers
& Co (1,125 6,6 ) .
431
. 1848 1850 . / . .
https://www.marxists.org/russkij/marx/1850/class_struggles_france/04.htm.

275

 1848 . 1851 .
.
, , ,
, . ,
, ,
.
.
1848 .
,
, .
;
, 432. 1849 . , 433.
1848 .
,
. 1850 . . , .
434.
, ,
.

432
. // . , . . . . .
7. . 454. http://www.informaxinc.ru/lib/marx/07.html.
433
, 1840
1850 . 45% ( 10 14,5 ), 1850 1860 . 85%
( 14,5 26,8 ) (Scherzer K. Das Wirtschaftliche Leben der Volker / K.
Scherzer. Leipzig: A. Drr, 1885. S. 638).
434
815% 1847 . 2,53% 1848 . 1,752,5%
1849 . ( . . (18211938 .) / . . .
.: - , 1939. . 509).

276


435 1855 .
,
National Debt Office , , 30 . , . ,
, .
1855 .
, , 436.
.
1846 . 200 1848 . 20 ,
437. , .

,
. ,
. , , .
435

(William Ewart Gladstone; 18091898) 18521868 .

, - 18681874 ., 18801885
., 1886 ., 18921894 .
436
1885 , 30- 1855 ., .
, , , 1855 ,

, . National
Debt Office, ,
, , , . , ,
, ( . 185518611870 // , . 1899. 37. . 386).
437
.

277

 1850- , , ,
.
18471857 . 300
350 ( 125 )438.

,
, . ,
, 1830-
1840- .
1851 1854 .
1850- ,

. , . 1853 994 , 1850- 4409, 3084 ,
18561857 .
1850- ,
, 1857 ., 1851 . 18541855 .
, 27%,
59%. 1854 . , ,
. 438
,
, , , ( 18471857 . 1,7 ,
800900 . . 1847 1857 .
1,3 3,9 (Commerce and
Industry: Tables of statistics for the British Empire from 1815. Edited by William Page.
L.: Constable and Co., Ltd., 1919. P. 137, 170).

278

 , , .
,
,
1853 .,
, , 1854 . .
, .
, 1856 .
20 . . 1855 .
,
1856 . ,
.
1847 . 79% , 6% 7% . ,
1856 .
. ,
. , .
, , . . 1856 . , . ,
( ).
,
. , , , .

,
. , .

279

 1857 .
, 1857
, , , .
-,
1857 . 18571858 . . . , ,
. ,
. , .
-
439.
,
. . , , , , . (Liverpool Borough Bank , Western Bank
of Scotland , City of Glasgow Bank, Northumberland and
Durham District Bank .).

, ,
.
8 9 5,5 10%. 10% ,

. 11,2
18 6,7 11 , ( 1847 .) , .
.
, Borough
439
., . / . , . . [2 .]. .
29. library.rksmb.org/text/kmfe-pss-t29.pdf.

280

Bank . 9 Western
Bank of Scotland, . , ,
; , , . , , .
, . 12
8 .
,
, ,
13 :
, 1949
, 440,
441.
, (
Royal British Bank, ). , , 250300 , 80 . ,
1857 .
, 1847 .
1857 .
, . ,
...
, 442.
440

., . / . , . . [2 .]. .
29. library.rksmb.org/text/kmfe-pss-t29.pdf.
441
, 1858 , ,
. 1859 . . , 18571858
. ,
, ,
, .
442
, ... , , . ,
, , -

281

 1860-
1857 ., 1858 .
. . ;
. , , , 443.
, 1860
.
1857 . .
1850-
(Company Act 1862 .)
. ( 1856 1868 .) 6994 ,
5321 . ,
,
.
20% .
18651867 .
1859 . 1866 .
534 .
,
( 1860 . 145 , 1876 . 252
). 30% ,
, , ,

. ,
,
(New York Daily Tribune. 1857. 15 Dec.).
443
. // ., . . 2- . . XI.
. II. . 114.

282

 , .
, 75 18151830 . 120165
18301854 . 260 18601867 .
1866 . 444, .
, (, ) 646
1851 . 814 1864 . 961
1867 .445
. , 1830- 1850-
, 1860 .
, .
, . 18601869 . ,
,
(60,0 ), (47,2 ),
(27,2 ), , ( 34,7
), (17,5 ), (21,4 )446.
1866 .
, 1866 . ,
. ,
1864 .,
. 1864 .
3%
9%. , 444

, .
, ... , , - (The Economist.
1867. 14 Sept. P. 10371038).
445
Stamp J. British Incomes and Property / J. Stamp. London: King, 1927. P. 427.
446
Jenks L. The Migration of British Capital to 1875 / L. Jenks. N. Y.: A. A. Knopf,
1927. P. 421423.

283

 , ,
. .
, .
3% 1865 . 4,5%
, 7% , 8% 1866 .
, ,
10%, , , 12, 15 20%... ...
447.
, . 11 1866 . Overend and C, .

, 10 .

. , , . .
,
, , Overend and C448.
Overend and C
.

.
.
11 , ... ... ... , -, ...
. ...
447
448

The Times. 1866. 14 May.

The Times. 1866. 30 April.

284

,
. Overend and C
449.
, ,
,

. 130
, , , 1
, , 450.
, , ,
. 10%,

(
31,7 44,3 ).
, ,
1868 .
1866 .
. 1857 . , 1866 .
... Overend and
C, 1866 ., , . 1866 . , 451. 1866 .
, 1857 . . 1857 . ,
1866 .
.

449

The Times. 1866. 11 May.

The Times. 1866. 24 May.
451
- . . . , / . . -. .: -
. . , 1914. . 128.
450

285

 1860-
, , 1,2
1853 . 1,7 1863, 2,3 1872 .
7 1903 . ( 7,5 )452. ,
,
, 245,8
1850 . 1176 1900 .
,
. 1853 . 194 (70% ),
16% , (70% ).
1873 .,
70% , 630
(60% 1850 .),
374 .
, Glyn Mills,
.

.
, , ( 1900 .)
44%
.
1870- , 1873 , . 18601866 . 33 , 18671876 . 60 452

Michie R. The Global Securities Market. A History / R. Michie. Oxford: Oxford

University Press, 2006. P. 84; Cassis Y. Capitals of Capital. A History of International
Financial Centres, 17802005 / Y. Cassis. Cambridge: Cambridge University Press,
2006. . 62.

286

 ; .
1866 1876 .
0,5 . ,
, 3 ,
5060 ,
.
, 18661875 . 110 ,
120 .

( )

, .

,

.
, ,
, . ,
, ,


,

, .
(
)
,
.


III ( 18481852 . ,
18521870 . )
,
I.

287

.
, ,
. ,
, ,
.
,
. , , . ... . ,
. ( ,
) ,
,
453.
1850-
1840- , 1850- . ,
1850- 40% .
1840-
1,860 ( 5,900 ), 1850-
3000 ( 10 000), 1870- 20 000 (
25 000)454.

(,
, ),
453

.
, . .
454
Hau M. Entrepreneurship in France / Hau M. // The invention of enterprise:
entrepreneurship from ancient Mesopotamia to modern times [d. by D. S. Landes].
Princeton (New Jersey): Princeton University Press, 2010. P. 305.

288

, .

. .
.


, 51 1846 . 1848
1851 . 70%
( 1840- 30%). , 1850 ., 10%.
22 . 1 1847 . 25 .
1853 . 30 1855 ., . , ,
1852 . 1869 . 1
7 .

1,53 .
( ) 18501857 . 4,5 ;
2,7 (
, 1855 1856 . 1025 ). ( )
1,6 200300 455. 1850- ,
, .
,
, , , 456. 455

Lvy-Leboyer M. Histoire economique et sociale de la France depuis 1848 / M. LvyLeboyer. Paris: Cours de Droit, Institut d'etudes politiques, 19511952. P. 177; Vialles
P. La Consommation et les crises conomiques, thse pour le doctorat, par Pierre Vialles /
P. Vialles. Paris: V. Giard et E. Brire, 1903. P. 307308.
456
(, ), 500 (Wirth M.
Geschichte der Handelkrisen / M. Wirth. Berlin: Ayer Publishing, 1890. . 319320).

289

 ,
,
, , 1850-
.
1850- Credit
Mobilier

1850- . , - , 1848 , ,
. , ,
1848 . .
, 18491851 . 70% ,
( )


. .
.
1850- 1852 . (Credit Agricole)
(Credit Foncier)457,
III Credit Mobilier,
. ;
.
Credit Mobilier,
, 18 1852 . 457
.: Szajkowski Z. Jews and the French
Revolutions of 1789, 1830 and 1848 / Z. Szajkowski. Jersey City, NJ: KTAV Publishing
House, Inc., 1970. . 925.

290

458. Credit Mobilier 60

120 .
99
, 10 .
( 1850-
400 459).
Credit Mobilier
,
.
, ,
,
, ,
. 1850-
(Nord, Est, PLM, Quest, Midi, Paris-Orlean), ( , ).
,
, , , .
,
, 1870-
. . .
, , ,
460.
. 458

,
- ( .
. / . .
., 1912. . 263).
459
. . .
/ . . . .:
. (. ), 1898. . 82.
460
. . / . . . .: , 1878 (. .: , 2000). . 101.

291

 , Credit Mobilier ( 1855 . 44%). 1852 1855 .

; 461.
. ,
,

. , 1856 1857 ., 700 , 226
1858 . 4,4 (
13 2 , 27
- 0,9 , 54 0,3 462.
( ),
, , . , ,
463.
Credit Mobilier
1850- ,
, (
, )
, ,
, .

, Credit Mobilier
.
Credit Mobilier 1867 .

461

Ormesson W. La grande crise mondiale de 1857 / W. Ormesson. Paris: Maurice

d'Hartoy, 1933. P. 109.
462
Block M. Statistique de la France comparee avec les autres etats de l`Europe / M.
Block. 2 vols. Vol. II. Paris: Amyot, 1860. . 250.
463
. / . . http://lib.ru/INPROZ/ZOLYA/money.txt.

292

 1857 .

1857 , , ,
. (
, ) 1856 .
, ,

1857 Credit Mobilier, ,
60% . .
1857 . ,
,
1856 ., 1857 . 18561858 .
12 , ,
. 1857 . 1856 .
( Credit Moblier 2,8 ,
2 Darmstadter Kreditbank),
1,5 .
1857 .
10%464.
1857 .
, , .
,
. 30
40%, 16%465.
, .

464

Rosenberg H. Die Weltwirtschaftskrisis von 18571859 / H. Rosenberg. Stuttgart

Berlin: W. Kohlhammer, 1934. S. 130131.
465
Journal des Economistes. 1858. . 18. . 214.

293

 1860- 1867 .
, , 1860-

466. 108 1861 . 269 1865 .
225 1866 . , , .
. 1858 ,

(Compagnie Universelle du Canal Maritime de Suez).
, . , 1869 ., .
, ,
, , ,
. . ,
, , , , ,
, , ,
,
, , , , ,
, . ,
,
. , .
,
...
466

The Awakening of Europe // The Economist. 1860. 866. March 31. . 335
336.

294

 ,
, , - .
,
467.
1860-
, , . Credit Mobilier , , , , ,
. , , , 468.
1860- ,
1857 . , -
1860-
.
1867 . , 1866 .
,
1857 .; . , - .
,
, , ,
, . , Credit Mobilier,
. , Credit Mobilier, 1867 . 591
. 877 1966
. 134 1867 ., .
.
467

. / . . http://lib.ru/INPROZ/ZOLYA/money.txt.
. / . .
.: . - , 1908. . 102.
468

295


18501870- .
469.
, , ,
,
470.
, , , ,
, , . , ,
, ,

471.

agents de
change, . ( I . 70),

.

472,
469
. 1837.
. 3. . 159.
470
. 1869. . 4. . 7. . 161, 164
471
, :
, : , ,
, , , ,
, ( . / . .
http://lib.ru/INPROZ/ZOLYA/money.txt).
472
, I
(, 1861 . 28 ).

296


( 40%).
. .
. , 1872 .
3% 140
, - (
) 73% 53%.
, , ,
73% 6% 473.
, , 1847 . 60 (
1845 .) 54 1850 . (55)
1855 ., , 72 1860 ., 76
1865 . 1870- 140 1870 . 1850 . 24
( 8 , 3
, 2 ), 1870 . 36 (11 , 6 , 1 ). ( ) 18511870 . 25 474.

. ,
, ,
[] , . . ,
, . ,

473

The Advantages and Disadvantages of French Securities // The Economist. 1872.

1507. July 13. . 861862.
474
Arbulu P. La Bourse de Paris au XIX sicle: efficience et performance d'un march
financier mergent / P. Arbulu. Paris: ditions Connaissances et Savoirs, 2007. P. 31, 37.

297


.
, , , . , ,
: , , , .
, . ,
,
.
(, , ),
,

. : , , , , . , , , , ;
, , . , . , .
,
, . , ,
,
.
, , .
,

298

 ,
.
,

. ,
. , ,
.
, ,
.
, ,
. , (
), , , .
,
.
, , .
.
! ,
. . , . , ,
475. ,
( . .).

, , . 1850 . , , 9,1 ( 1899 .
9,5 86,9 ). 1850-
, 2,5
(27%) 27 (31%). 1851 1900 . 475

. / . . http://lib.ru/INPROZ/ZOLYA/money.txt.

299

 ( ) 75% 48%;
12% 33%.
1869 . 1
( 1,7 1863 . 2,3
1872 .),
. ( ) , (
). .
:
I .


, I .
, ,
. I .
, , . ,
,
,
, . , ; . ,
, .
I . . , , . ,

300

, , , .
1840-
I ,
. , I . ,
, , .
(
4 1790 . 40 1870 .) , , . ,
,
(. frontier) , ,
, - ,
.
, , .

.

, ,
.
( )
,
. ,

? ,

?
-
: ,
! , ! -

301

! ,
476.

, .
,
.
(National Banking Act) 1864 .,
.
, . .

,
, .
I . , , .
, . , .
1850-
1850-
, ( 18501860 .
23,3 31,5 ). , 1850- .

1848 . ,
. , 476

. ( ) / . , . .
lib.ru/INPROZ/MARKTWAIN/gildage.txt.

302

,
.

1850 500800 .
80% , ,
150 . , ,
, , 477.

1850 1860 . 1019 1886 478.
1850- , ,
,
.
. ,
,
( ). ,
,
. .

479.
, , 480.
477

Reibnitz . von. Amerikas internationale Kapitalwanderungen / . von. Reibnitz.

Berlin: Gruyter, 1926. S. 22, 23.
478
Statistical Abstract of the United States. Washington: US Government Printing
Office, 1935. P. 715.
479
,
.

,
. (The Economist.
1854. March 11).
480
1854 . 39 .
, 20 ., 10 ., 6 . .
, , -

303

 1857 .
1857 . ,
,
, (
)481.
-
.
,
. , , ,
, ,
,
.
, , , . 1857 .
- . , 482
.

.
, , 24 1857 . - Ohio Life Insurance and Trust Company. ,
,
.
, ,
, 8 . (Tooke T. A History of Prices and of the State of the Circulation
from 1792 to 1856 // T. Tooke, T. Gregory, W. Newmarch. 6 vols. Vol. V. L.: P.S.
King and Son, 1928. P. 356, 380).
481
.: Commercial and Money Affairs. Sales at the Stock Exchange Stock
Exchange Lloyds // The New York Times. 1857. July 23.
482
Times. 1858. 1 Jan.

304

 . , .
, , . , 26 1857 ., , , 175. 150
. , 100% .
.
. , - ,
. , ... ,
. ,
483.
- 13 .
, , -, 12
.
-,
. 18 - ,
32. -. ,
( 1857 . 5 ).

2050%,
1856 . 78 484.
,
,
. , 5060% (
- 84%).
. 1856 ., , 483

Times. 1857. 9 Oct.

Schaffle E. F. Gesammelte Aufsatze 2 Bd. Bd 1. / E. F. Schaffle. Tbingen: Laupp,
1885. S. 25.
484

305

 1857 ., . 1856 1857 . , 2030%.

.
1857 1858 .
, . 1857 .
- ;
1858 .
16%, 20%.

18611865 .

.
,

, 15 100 .
,
. ,
.

485.

. ,
,
,
.
,

.
,
. ,
485

Glanz R. The Rothschild Legend in America / R. Glanz // Jewish Social Studies.

1957. 19. P. 328.

306

 , 80%
.
20 1
7%,
,
.

, .

. 1863 . 1864 .
486.
,
,
.
4 , 6,25 27,25 .
( 1860 . 1862 . 40
),
,
.
, . .

,
,
. ,

. ,
,
3 .
1862 . ,
,
. ,
-
, .
. ,
,
, , ,
486

Weidenmier M. The Market For Confederate Cotton Bonds / M. Weidenmier //

Explorations in Economic History. 2000. 37. . 7697; Weidenmier M. Turning
Points in the U. S. Civil War: Views from the Grayback Market / M. Weidenmier //
Southern Economic Journal. 2002. Vol. 68. 4. . 875890.

307

 .

.
1860-
18611865 . ( ) . ;
,
. 487.
, I ., 1860-
,
. -, . -
, , , - .
-, -
. ,
, U. S. Steel,
1000 ,
, .
XIX . ,
; 1860-
488.
487

1880- .
488
The Increasing Activity of Government Securities // The New York Times. 1866.
August 11.

308


1860- ,
1865 . ,

.
.
, ,
,
. , ,
,
, , . -
, .

, ,
,
. 1860- , 489.
,
,
25% , 20% , , , . , ,
, .
,
10% . ,
, .
,
489

American Topics: American Securities // The New York Times. 1865. October 10.

309

 , . ,
,
.

. , . ,
, , , ;
.
, , .
, , . . ,
, -
490.
, ,
,
. , 1870- .
1860 . 30 000 491, 1,2 490

,
, .
: , ,

, ( . ( ) / . , . . lib.ru/INPROZ/MARKTWAIN/gildage.txt).
491
, ,
, , (Fogel R. Railroads and American Economic Growth: Essays in

310

.
Winslow, Lanier and Company, Kuhn,
Loeb and Company, George Peabody and Company ( J. . Morgan and Company) .
. 318 1850 .
11,5 1900 .; 50% - 492.
, ; . 18631873 . ( )
1,3 . 2 , 18651873 .
, .

. ,
.
,
,
493. , 1873 .

Econometric History / R. Fogel. Baltimore: John Hopkins Univ. Press, 1964. . 100;
Fogel R. W. The reinterpretation of American economic history / R. W. Fogel, S. L.
Engerman. New York: Harper & Row, 1971. 494 p.).
492
Lerner W. Historical Statistics of the United States. Colonial Times to 1970 / W.
Lerner. Washington: United States Dept. of Commerce, 2003. P. 968.
493
Rise of United States Securities at Frankfurt Success of the New Treasury
Arrangement // The New York Times. 1871. August 15. Great Activity in Government
Securities // The New York Times. 1866. April 25. Our Securities Abroad // The New
York Times. 1866. August 28.

311


,
, -. -,
, , , , .
.
1860- ,
, Erie Railroad. 18661868 .,
. ,
( 1877 .
100 ). ,

,
. ,
-,
6 .
,
. 1868 . , ,
Erie Railroad, 10
,
Erie Railroad. ,
, . , , Erie
.

. 1860-
, ,
, .
, .

312

 .
(
15 ), , .
24 1869 . , . ,
4 , 1,5 .
, , , .
( 1872
. Union
Pacific), 1880-
. Union Pacific, 20

. , , , , . .
Union Pacific ,
, 1872 . - Sun , .
1866 . 1867
1866 .
(
), 1865 . .
, ,
, , , 494.

494

New York Daily Tribune. 1865. 23 Oct., 19 Dec.

313

 1866 .
.
, 1866 . 38 .
- 1866 . 68%,
1867 . 10%. ( 530 1865 . 1505 1866 . 2780 1867 .)
1867 . . 1857
. ... .
, 495.
, .
...
... 496.

,
1860-
( ,
)
( ).

, .

.
1860-
, , ,
, , . , 1866 . Delware, Lackawanna and Western Rail Road Company
495
496

The Economist. 1867. 27 April. P. 470.

New York Daily Tribune. 1868. 3 Jan.

314

 - ,
497. New York
Central and Hudson River Railroad
18701880- .

Fraudulent Transaction Act (1857 .),
;
Punishment of Frauds Act (1857 .) Larceny Act (1861 .),
.
, 1860 . Sunshine Laws, .

(Wall
Street Journal, Barron's .)
American Railroad Journal, Railroad Gazette Railway World.
, , .
1867 . - ,
. .
- , , (4,6 . 1870- 40% ),
.

,
- . . (R. G. Dun),
1841 .
. 1859
R. G. Dun and Company,
. 1849
497

King T. A. More Than a Numbers Game. A brief History of Accounting / T. A. King.

Hobolen (New Jersey): John Wiley & Sons, Inc., 2006. . 15.

315

 (John Bradstreet).
,

. Barrow, Wade,
Gutrie & Company ,
, New York, Ontario and Western
Railway Company
498. 1886 .
-,
.



1860- 1870- , , . , 1871 .
.
. , . 1870 , , ,
, , , ,
,
, ,
, 499.
498

1933 ., Dun & Bradstreet .

499

: , , , , , , - , . ,

316

 , .
, .

1840- 1848 ., , 1871 .
, . ,
, -.
, .

500.

. ,
,
, ,
.

1840- , . 501.

, ( . . / . . .: , 1991. http://www.belousenko.com
/wr_Zweig.htm).
500
1830 1840 . 16%
, 1851 1870 . 38%.
,
( 1838 ,
).
501
1873 , 1879 .
.

317

 1840- (1845), (1849),

(1853), . 1850-
, 22,5 .
1850- . Credit Mobilier
Bank fur Handel und Industrie.
. , , ,
, , .
, ,
, ,
. , ,
, , 502.
, 18531857 .
, 1500 , 600 , 420 , 90 , 390 503.
1856 150 .
,
.
1857 . ,

. :
-

502

Journal des Economistes. 1856. 15. X. . 59, 6667.

Sartorius von Waltershausen J. Deutsche Wirtschaftsgeschichte 18151914 /
J. Sartorius von Waltershausen. Berlin, 1920. S. 184185.
503

318


504.
1857 .
18561857 .
, , . 1857 .
,
. ,
.
, ,
, , .
- , . , , ,
.
-. , 1583 ., ,
. . ,
. 505.
504

. . / . . . : , 1878 (. .: , 2000). . 103.

505
,
.

, . 1820 1860 .
, , . 1860 .
330 . IX . 5,5%
, 5,3%.
4,5% (Ferguson N. Paper & Iron. Hamburg Business and
German Politics in the Era of Inflation, 18971927 / N. Ferguson. L.: Cambridge
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319

 1857 . , 506 - 18541857 .

. 162 1855 . 400
, 507. , , . , , -, , 1857 .
1856 . 40 ,
; , - 34 300 . c
508.

17 1857 ., .
. 2324 1857 . :
.
. . ,
,
, 509.
.
, 510.
1857 . 12%.

506

Journal des economistes. 1858. II. P. 245253.

Rosenberg H. Die Weltwirtschaftskrisis von 18571859 / H. Rosenberg. Stuttgart
Berlin: W. Kohlhammer, 1934. S. 129.
508
Preussisches Handels-Archiv. I Halfte. Berlin, 1858. S. 301.
509
Ormesson W. La grande crise mondiale de 1857 / W. Ormesson. Paris: Maurice
d'Hartoy, 1933. . 8589.
510
Times. 1857. 3 Dec.
507

320

 1860-

.
,
. 1864 .

, ,
, ?
, : , 511.
1860 , , 426 512. 1851 1870 . (
1860 .) 1,7 ( 1 ),
1835 1873 . 5,6 . : -
373 18561860 . 580
1865 .
1860- 1850- ,
. 1860- ( ),
, , , 513.
511
// . 1874. 38. . 214.
: Germany is a nation of misery,
who believe in the hoarding of money rather than the profitable investment of it ( , , (Mayhew H. German Life and
Manners as Seen in Saxony at the Present Day / H. Mayhew. London: W.H. Allen &
Co., 1864. Vol. 2. . 593).
512
140 , 54 , 44 , 39 , 30 119 .
513
, .
,
, . -

321

 ,
(
),
, 514. ,
.
,
- .
, ,
, , idee fixe
515. ,
, ,

, .

,
516.
, , .
, (
// . 1874. 38. . 214).
514
18501860- 6 19,5
. , 20 . 88 1950- 500
1870- (Cassis Y. Capitals of Capital. A History of International Financial Centres, 1780
2005 / Y. Cassis. Cambridge: Cambridge University Press, 2006. . 55).
515
//
. 1876. 4. . 53.
516
, , ,
,
.

322

517. 1850- 1960-

, . I .
, , , .


, , ( ) .
, ,
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, (
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.

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,
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, ,
517

, 1856 . - 1868 .,
, .

323

 . . (
), ( 1871 ., )
.
1833 . , 1820- Berlin Kassenverein Pommersche
Privatbank . 1833 .
,
. 1835 .
, 1838 .
.
1850- ,
, , .

. ,
,
.

,
,
518.
518
. . /
. . ., .: . .-. -, 1931. . 127.
1873 . , 1873 .
.
, .
, ,
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). , . , ,
, , ,

324


. ,

, (
I ).
, Disconto-Gezellshaft, 1851 . , 1853 .
Darmstadter Bank,
.
, 1857 . .
( 1850 .), ( 1857 .), ( 1874
.), .


. 1848 . , 1849 . .
.

( 1855 .), ( 1868 .),
( 1872 .).
1854 ., 1856 . . ,
,
, . 1892 . (Gesetz betreffend die Gesellschaften mit
beschrankter Hauftung, GmbHG), , . , 1986 .519
.

.
519
A Global History of Accounting. Financial Reporting and Public Policy: Europe / Ed.
by G. J. Previts, P. Walton, P. Wolnizer. London: Emerald; University of Sydney, 2010.
. 61.

325


I . ,
1848 1866 . 82
, ,
1857 . 100 . -
Seligmann & Co Seligman &
Stettheimer, 6%
500 . ,
.

, ,
. , . 1870 . 325 (95 , 115 , 55 .).
1871 .
520.

- 19 1870 .,
, 28 1871 . . .
5,57 . 520

. 1897. . 13. . 212.

326

 ( , ),
. , .
-
, ,
.
,
.
, 521.
, . , ,
.
,
, . 27 1870 . .
, , ,
.
, 521

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, , . , , , , ,
,
, , , ( // . 1874. 38. . 215).

327

 522.
18711873 .
( . Grnder ). 1870- (
, 1820- , 1850- )523. . , .
, .


. 5% (
3,87,6%, 5,4%). 524.
522

. , .
,
( )
,
- ( // . 1874. 38. .
215).
523
1790 1867 . 225 (
2 ), 1867 1870 . 54 (
18 ), 1870 .
1870 34 , 1871 . 259 , 1872 . 504
. 1870 1874 . 857
( . / . .
.: - , 1877. . 356).
524

( 1870 1874 .): 12,31% ;
8,36% ; 5,87% ; 6,44%
. , ,
.

, -

328

 . 1870 . 31
400 ,
107 706
( Deutsche Bank, Dresdner Bank, ommerzbank .).
10
1870 . Deutsche Bank, , ,
.
, . 5 , 2
, . , ,
1872 ., 1873
. .525
1867 .
9,5% ( ) 4,7% ( ).

. ( )
,
. , 1878 . 52% (
65% ) ; 1883 . 66%
(88% ); 1887 . 59% (80% ). ,
. , Credit Mobilier 13% 1854 ., 47% 1855 ., 24%
1856 ., 1857 ., , .
Credit Mobilier ( 500 ) 1856 . 1995,7
., 1870 . 87,5% . 2,4% 1854 .,
10,67% 1855 ., 15% 1856 ., 5% 1857 ., 5,25% 1858 ., 4% 1858 .
1856 . 170%, 1859 . 42% .
Creditanstalt 205% 1856 . 42% 1859 . ( .
. .
/ . . . .: .
, 1898. . 7980).
525
Klubmann U. Das Kaiserreich. Deutschkand unter preubischer Herrschaft Von
Bismarck bis Wilhelm II / U. Klubmann, J. Mohr. Munchen: Deutsche Verlags-Anstalt,
2014. S. 135137.

329

526. , , , 1870-
9% 1850- 17%
1870- 527.

528,
, . ,
18711872 . 780
.
,
.
, .
, ,
,

.


.
, , ,
, . ,
.
, ,
, ,
526

// 29 ,
. 1870. 29. . 323.
527
Silke P. Die Grnderkrise von 1873 und ihre Auswirkungen / P. Silke. Munchen:
GRIN Verlag, 2008. S. 78.
528
1871 . 296 2,4 , 72% , 11% . 1871 1873 . 928
2,78 , 107 740 (Gmmel R. Entstehung und
Entwicklung der Effektenbrse im 19 Jahrhundert bis 1914 / R. Gmmel // Deutsche
Brsengeschichte / Rainer Gmmel, Friedrich-Wilhelm Henning, Karl Heinrich Kaufhold,
Bernd Rudolph, Rolf Walter. Frankfurt am Main: Fritz Knapp Verlag, 1992. S. 153
154).

330

 . .

, ,
,
. , . , ,
,
. , , -,
, ,
, (
).
1873 ., ,
. , , , .

, .
.
- ,
. , -,
. .
,
250 .
(
43%). , 320 . , 250 . , 70 .

331

 .
. ,
, ,
. ,
20 .


(
- ) 529. , .

. . ,
530. ,
, ,
531. , ,
,
. 529

, ,
, ( , ), , 5 100 . . , , ,
. , , (
). .
530
,
1888 Assurance financiere 2,85 .
531
Journal des Economistes. 1856. 15. X. . 59, 6667.

332

 815 ,
532.
,
.
(
100), (
, 9 , ).

.

.
,
, , , ,
1873 .
7 1873 . 533. 532

. . .
/ . . . .:
. , 1898. . 121122, 133.
533
, ,
, . , ,
( , , ).
(, ) ,
. , .
,
,
. ,
( -) , ( ,
) , .
, . .: Borchart J. Der europische
Eisenbahnknig Bethel Henry Strousberg / Borchart J. Munich: C.H. Beck, 1991. 352
s.; Hunt R. The Amazing Dr. Strousberg / R. Hunt. London, Richard Hunt Publishing,
2009. 196 p.

333

 ( , )
. , .
, , , ,
- .

. 7,5% 254 ,
, 1872 . . 534.
, , (2,5 ) . 1870 ., , ,
4 .
, 2,5 .
, ,
, 1 1871 . . -:
, ,

535.
1871 . C ,
534
,
, , . , 1870 . . .
535
. . / . . .: , 1985. . 9192.

334

 , , 15 ,
. 1875 . - 2
, (
7 ),
. , 1882 .
.
,

536. ,
, Deutsche Bank. ,
,
.

.
1875 . 5,5 537.
536

1872 . , 1873 .
9,6 , 1874 .
( 1874 . 26 65,36 , 1875 . 28 54,0
, 1876 . 37 48,42 , 1877 . 43 66,65
, 1878 . 37 84,08 , 1879 . 47 69
. , . 203 , 1871 ., 1873 .
30 (14,7%). 478 , 1872 ., 138 (28,9%); 162,
1873 ., 67 (41,4%); 30, 1874 ., 14 (46,7%) ( . . .
/ . . . .: . (. ), 1898. . 141
142, 184).
537
1883 ., ,
, Deutsche Bank
Northern Pacific Railroad.
,
(Klubmann U. Das Kaiserreich. Deutschkand unter preubischer Herrschaft Von Bismarck
bis Wilhelm II / U. Klubmann, J. Mohr. Munchen: Deutsche Verlags-Anstalt, 2014. S.
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335


1875 . , [1875] , , .

, ,
,
538.
, 1873 ., , 900 , 2,8 .
: 18481873 .

1848 , , . , ,
,
, , ,
, 539. , Wiener Tagblatt Lemberger
Zeitung, , . ,
- 540.
538

, 7 1875 . ( ) // . 1875. 5. . 86.

. . / . . .: ,
1991. . 30. http://www.belousenko.com/wr_Zweig.htm.
540
,
- .

539

336

 , , , , , . ,
, ,
.
1848 .
1848 ., , 1861 . .

,
, .
,
.
- .
.

, , , . , .
, ,
( . / . . http://www.erlib.com).
, - ( . . -),
.
. ,
,
( . / . . http://www.ereading.link/book.php?book=40125).

337

 ( , ), .
18501857 .,
1857 . 1867 1873 ., ( ,
), 1873 .
-

- ,
. , , ( ). 1850- ,
. ,
.
18401850- ,
541 Pest Magyar
Kereskedelmi Bank (1841), Niedersterreichische EscompteGesellschaft (1853) Banca Commerciale Triestine (1853).
Credit-Anstalt
( sterreichische Credit-Anstalt fur Handel
und Gewerbe), 1855 . . , , , .
, ,
redit-nstalt.
541

Erste Osterreichische Sparkasse 1819 ., (, Bohmische Sparkasse ). , , (Albrecht C. The Decision to Establish Savings Banks in
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338

 , ,

,
. , , 1863 . AngloAustrian bank . ,
, .
1857 .
5 1859
Arnstein und Eskeles ,
Credit Mobilier 30
. Arnstein und Eskeles ,
, ,
. 80- , , , ,
,
, ,

542.

1857 . . ,
, 1820- , 1830-
. 542

. / . // .,
. . 2 . . 13. . 353.

339

 Mahrische Escompte-Bank (1862),

Bohmische Escompte Bank (1863), Zivnobanka (1863).
, Zivnobanka , ,
. , ,
1871 . 543.
-
( , , )
, ,
- ,
Landesbanken . redit-nstalt
40% ,
, 50% , , 10% .
,
, 544.
- ( ) ,
.
redit-nstalt 500 ,
. , , .

1580 545 ,
546.
543

Rudolph R. L. Banking and Industrialization in Austria-Hungary: The Role of Banks in

the Industrialization of the Czech Crownlands, 18731914 / R. L. Rudolph. Cambridge:
Cambridge University Press, 2008. . 6972.
544
Wurm S. The Development of Austrian Financial Institutions in Central, Eastern and
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Sciences f Vienna, 2006. . 26. http://www.econbiz.de/archiv1/2009/97031_
development_financial_institutions.pdf.
545
, . -

340

 1860 1870-
, - ( ,
Erlanger). , Kredit-nstalt547.
, ,
1873 .
-
1860-
1860- , 1867 . - , .
,
7% ( ,
3,3% 4,7%).
,
. 1863 1864 .,
, , ,
18651866 . ( , ), 1866 .
, . . , .
546
. . .
/ . . . .: .
(. ), 1898. . 121122.
547
,
, ( 1854 . 2617 1852 ), -
18531856 . , . 1873 .,
9600 , 90% .

341

 1867 .
.
1873 .,
, ,
. ,
. ,
,
- . - (Kaiserlich und Koeniglich, - ) , . , ,

1873 . -,
, ,
, .
,
,
, .
, .
,

.
1860- 1870-


( 26 1852 ,
1862 1906 .). 1857
100 . 1853 1857 . -

342

 , 548
350 ,
250 100
. ,
1857 .

18561857 .,
1869 141
( 1868 . 5) 517 .
1869 .
982 ,
470 549. 550. ,
, 4,5%
5%; .
1859 . .
1860- -
. 1860-
, - , 548
, ,
Galizische Landstndische Credit-Anstalt, 1841 . 1863
. Magyar Fldhitelintzet, Allgemeine sterreichische Boden-Credit-Anstalt ( 1863 .).
549
, 1868 . 21 , 30 , 1869 .
99 , 135 ,
100 .
1868 . 1869 . 84 326,8 .
550
1869 28 (23 387,6 ; 15
1869 . - 1869 . 59 132,2 40 1869
( 1868 . 6 ). 1869 28 (23 387,6 ; 15 1869 ). -
1869 . 59 132,2
40 1869 ( 1868 . 6 ).

343

 ,
. , . ( , , ,
)
, .
, , 1870 . 20 (
Kassenferain 1 ),
, redit-nstalt, 40 .
, (Maklerbanken),
, (Baubanken).

,

,
, , .
1860- ,
1860- ,
,
, 551.

, , 1850-

,
42 1854 . 96 1867 . 154 1873 . 1869 .
43,7 .
, - .
68 38
98,8 .

551

. . / . . . : , 1878 (. .: , 2000). . 105.

344

 1871 . - 376 1,9 ( 6 , 1271 ). 1873 . 900 2,4 ( 200 ,

2200 ).
11 , ,
,

. ,
, 552.
1871 . - 544,6 (2 33 ; 5 14 ; 30 115,2 ; 34
305,2 ; 36 77,2
). 1872 . 1108 ( 40 ; 7
14,8 ; 87 420,95 ; 35 251,11 ; 131 381,14)553.

, 3% , 2,5%554.

; ,
; , .
18691870- , - , , ,
552

// ,
. 1899. 45. . 486.
553
. / . . .: , 1877. . 355.
554
. . - / . . //
. / . . . . . .: , 1998. . 349.

345

 11 20 .
1870 . ( 1870 .)
, ,
555.
1870 , . 32 , 1869 , 11

1870 ., . 58 .
1871 . ,
, ; .

, . .
, . . , 556.
1870-
. , .
1870 -

555

100 . 16 ,
10,5; , , .
( . - / . . .: , 2003. .
307).
556

, , , ( .
/ . . .: - , 1877. . 367).

346

 , 557.
1872 ., ,
.
.
, .
,
.

-
V 1873 .558
, 20 ,
.
15 , 7
700 . , 9 1873
, ,
.

- , . , - , ;
. , . redit-nstalt. , . ( ), 557

. . , . / . . . .: . . . , 1879. . 125.
558
( 1851 1862 .) (1855
1867 .).

347

 1 1873 .
. , , ,
- 5 1873 . redit-nstalt.
. ,
? . ,
,
559.
, 276 75,
145 65, 313 142, 273 95, 258 52 . . 300
. 1873 105,1 , 135,8 .
112 262
; 1250. .
.
40 3000
, 6 (52 ), 18 (64,6 )560. 1873 . ( 160 )
6,2%, 10,5 .
, 190 , , 162 , -

559
. , -
, , ,
( . / . .
http://lib.aldebaran.ru/author/gashek_yaroslav/gashek_yaroslav_finansovyi_krizis/).
560
131
1872 102 1873 ., 75 1884 . 53 1879 . 69 1873 . 28 1874 . 14 1879 . 1880
( ) (A
History of Banking in all the Leading Nations. Vols 14. Vol. 4. Germany, AustriaHungary, Netherlands, Scandinavian Nations, Japan, China. New York: The Journal of
Commerce and Commercial Bulletin, 1896. . 131132.

348

 42%561. , - . ,
1880- , .
, -
. -,

(

). , 1875 . 2,1 .
1874 .
, 1873 . , , 1874
.. ,
, , 1873 .

,
.
, .
, , ,
. ,
, ,
.
, 1871 , -

561

//
, . 1901. 47. . 359.

349

 , 562.
, ,

,
. , , , . ,
563.

,
, ,
564.
-
,


, .
- ,
.

562

1873 // . 1875. 15.

. 322.
563
, , // . 1875. 21.
. 463.
564
, , . ,
,
, (, , // . 1875. 24. . 517).

350

 1873 .

1873 , ,
. 1860-
, ,
. ,
- ,
. , ,
. ,
. - 1873 .
, .
.

1873 .
1869 . 1860- . , .
( 1869 1870 . 43,7 ). , 565.
1870-
, 565

68 1869 38 97,8 . 1870 . 37

193,03 . 1871 . 261
1108 . ( 40 . ,
14,8 , 87 420,96
., 35 251,11 ., 131
381,14 . ( .
/ . . .: - , 1877. . 354355).

351

 .
1873 ,
.
566.
18701873 . 528
, 2,5 ,

. , 7 1857 90 . 2 452 , 8%
, 567.
1870 . ,
,
. 1870-
, , , .
,
, , , , .

, ,

, .
1872
, , .
, 566

. 10 // . 1876.
2. . 16.
567
Neuwirth J. Bankacte Und Bankstreit In Oesterreich-Ungarn, 18621873 (1873) / J.
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352

 . ,
,
,
, . ,
568.
, , ,
.
9 , .
1873 ,
.
, 569. 24
570. 8 9
. , ,
; , .
,
, , . .
571. , 8 ,
150 , 120 572.
300 .
, 573.
568

. 10 // . 1876.
3. . 33.
569
. . , . / . . . .: . . . , 1879. . V.
570
Schaffle E. F. Gesammelte Aufsatze / E. F. Schaffle. Tbingen: Laupp, 1885.
S.109.
571
. / . . .: , 1877. . 403.
572
Silke P. Die Grnderkrise von 1873 und ihre Auswirkungen / P. Silke. Munchen:
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573
Vienna`s Fair // The New York Times. 1873. May 25. Vienna // The New York
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353

 31 28 1873 : 74%, 58%, 49%, (

) 20%.
. 22 , 17
. 18
1873 .
76 . 9,5%,
574.

1874 ., . 1872 . 141 , 1873 .
153, 1874 . 216. 51% 1872 . 41% 1873 . , , , , 4
1874 .575.
1874
, ,
1873 , -
.
, . - , , - ,
. , Parasitbanken.

, 574
:
(4,9 938,9 )
105,9 . ; (
213,3 .) 135,8 . ; (3,3
510,9 .) 366,7 .
575
1 30 1871 . 48 , 1872 . 44
1873 . 43; 1874 . 73 70%
( . : / . . .: ,
1994. http://www.gumer.info/bibliotek_Buks/Sociolog/Durkgeim/index.php).

354

 , , , 576.
1876 . 28,9 ,
4%
577.


.
1873 . , . 1873 .

Wiener Kreditanstalt,
.
,
, ,
.

.
, 18
400 . , , , 578.
, , , ,
. , ,
.
, . !
. , , , 576

, 30 1874 . // . 1874. 50. . 502.

577
Germany and Austria / The Economist. 1876. Dec. 9. P. 1433.
578
Wirth M. Geschichte der Handelkrisen / M. Wirth. Berlin: Ayer Publishing, 1890.
S. 539, 569.

355

, , !
579. . , -- 1870-
22 , 1874 .
32 45% 580.
,
95
, 18711873 ., 1875 40 581.

18711873
,
, ,
700 .
,
,
1500 , , ,
582.

:
583 , . ,
, .
, 584.
,


14 1875 . 579

. / . . www.erlib.com/_//15/.
. : / . . .: ,
1994. http://www.gumer.info/bibliotek_Buks/Sociolog/Durkgeim/index.php.
581
Oechelhaeuser W. Die wirtschaftliche Krisis / W. Oechelhaeuser. Berlin: J. Springer,
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582
. . , . / . . . .: . . . , 1879. . V.
583
Oechelhaeuser W. Die wirtschaftliche Krisis / W. Oechelhaeuser. Berlin: J. Springer,
1876. S. 51.
584
Labor Crisis in Germany // The New York Times. 1874. August 25.
580

356

 585. 1875
586. , ,
, 587.


1872 . 1860 1870-
,
.
1873 . 18701872 .
,
10 000 .
1871 ., 1872 .
; 39%
.
- (
4,7% 9,8% 1871 ) . 6%
1872 ., 910%.
,
1873 . , .
585
, (
),
.
586
The Aspirations of Germany // The New York Times. 1875. December 8.
587
4% 1877 . 251 ,
4% 18771878 . 1159 , 4% 1875
1878 . 30 92 , 4% 1875 1879 . 15 38
, 3% 1876 342 ,
4% 1881 . 166 . , ,
,
(Flandreau M. Old sins: Exchange Clauses and European Foreign Lending in 19th Century
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pubfiles/pubS-154.pdf).

357


.
1873 . ,
.
( 100 .), ,
. ,
. .
, , .
1873 18 20 ,
588.
1873 Jay Cooke and Company, ,
.
, , (Northern Pacific Railroad).
1873 . Jay Cooke and Company, ,
300 . ,
100 , .
Jay Cooke and Company
588

.: Mixon S. The Crisis of 1873: Perspectives from Multiple Asset

Classes / S. Mixon. 2007. http://papers.ssrn.com/sol3/papers.cfm?abstract_id=761964.

358

, , . , ( New York Warehouse and Security Company).

, Jay Cooke and Company.
Jay Cooke & Co, , Fick &
Hatch, 20 National
Trust. , Fourth
National ( 17 ), National Bank of
Commonwealth ( 1,7 ) .
30 .

. 10 ,
, 5000 , 57 589.
6,5% 12,5% , 17%
,
72% .
,
.
1873 . 101 ( 37 , ). 59%
, 16% , 11% , 7%
, 4% , 4% .
1873 . 8,8%; 19,8%590.
40 ,
. 1877 591. 589

The Financial Crisis // The New York Times. 1873. September 24. Financial
Systems // The New York Times. 1873. November 22. Lee J. New York and the Panic
of 1873 / J. Lee // The New York Times. 2008. October 14.
http://cityroom.blogs.nytimes.com/2008/10/14/learning-lessons-from-the-panic-of-1873/.
590
Wicker E. Banking Panics of the Gilded Age / E. Wicker. Cambridge: Cambridge
University Press, 2000. . 18, 2627.
591
60 1872 .
36 1877 .; 117 1872 . 51 1877 .;

359

 50% ,
.
14%, - 18731874 . . 30% 1870 . . 225 ,
592.


, . 1873 , , .
,
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1,7% 1868 ., . . , , , .
1873 . , ,
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40%, 2,5 . 1878 .
, . 18731878
. 47 . , 1,2 .
( 1866 1872 . 19,7 .
0,53 .) ( . .
. 3 . . 2 / . . . .: - -. -, 1960.
. 66).
592
1879 . . , 1880 1882 ., 28 240
, 1884
, , 1873 .

360

 9%,
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1857 1866 .).
1873 . 12%.
, ,
1873 , 593.

, , 1872 ., , , .
1878 , 18711873 .;
.

123 1873 . 89 1878 .
1873 .,
1885 . , , , (1313) 1879 .,
, 1873 , .
1873 ,
1870-

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. , .


,
. 1870- ,
, 593

Money Market // The Times. 1873. 11 November; Money Market and City
Intelligence // The Times. 1873. 21 November.

361

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.

1873
7%
,
.
594. ,
1874 . , 595.

, ,
1879 . .

, , ,
.
600 .
,
596.
1873 70 , 30 , 21 , 20 , 594

LEconomiste Francais. 1873. 8. XI. P. 832, LEconomiste Francais. 1874.

31. I. P. 128.
595

( 61,562,3 ), (40,1441,0 .), (98,299,5), (60,460,5 .). (15 , 107 ).
,
1874 . Bank of France (38803930 .), Comptoir d`Escompte
(532,5550 .), Credit Foncier (802,5895 .), Credit Mobilier (280285 .), Sciete
Generale (515516 .), Banque de Paris (1052,5 1062 .), , , , , (France // The Economist. 1874. March 7. P. 291292).
596
Germany. A Crisis Apprehend on the Berlin Bourse // The New York Times. 1873.
October 2. Affairs in Austria // The New York Times. 1873. October 27.

362

 12 , - 10 , 10
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363

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364


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,
599. ,
597

Friedman M. A monetary History of the United States. 18671960. New York:

National Bureau of Economic Research, 1963. P. 3444; Saul S. B. The Myth of the
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598
.: . . / .
. . .: , 2014. 560 . http://books.google.com.
599
I , - ( ).

365

. 1836 . , 600.
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366

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, 1860-
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1907. . 282). 1880-
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M., Sussmann N. Old sins: Exchange Clauses and European Foreign Lending in 19th
Century / M. Flandreau, N. Sussmann. 2002. . 910, 22, 27. http://www.iadb.org/
res/publications/pubfiles/pubS-154.pdf).
605
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367

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, , . ,
, , 612.
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, / . . 2 . . 2. ., 1863.
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611
. . / . . . .: . . , 1880. . 23.
612
. . - / . . .: . . . , 1884. . 105106.
613
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369


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. 18571858 ., 50- 614.
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. 14, 1858 . 39, 1859 . 20. 35 1855 . 94 1859 . ( 1859 . 131
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. . // . 1859. 29 . . 1073).

370

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. 1858 .,
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, , ,
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618
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371

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, .
,
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374

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,
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, , 1860- , 18681869 .
, 1860- , .
, 630. 1868
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627

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. 96, 105 ( 1, 7).
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/ . . . 4 . . 2. .: . .. , 1882. . 154157, 163,
174175.
629
, 1867 . .-
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183. 5 . . 2).
630
. . / . . . .: . . , 1880. . 24.

375

631. , , . 1860 .
, , ,
, : ,
, 632.

1860-
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, , ,
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, ,
, 635.
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.
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,
, ,
. , 1870 1873 ., 53 631

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632
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1874. 45. . 377378.
633
: . 18391889. ., 1889.
. 4546.
634
. . / . . . , 1917. . 186.
635
, ( . . / . . . , 1917. . 231).

376

 107,9 .
, ,
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1873
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,
, 636.
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. ,
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. , , , .
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.

, , , 636

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(642 , 1,2 ), (301 , 0,8 ),
(1170 , 0,4 ) ( . . (18211938 .) / . . . .: - , 1939.
. 832833).

377

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, ,
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637
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638
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1873 ., , (2,417 .), 1873 .
10,603 ., 4,297 .
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639
, ( . 6 // . 1874. 14. . 264).
640
. 31 // . 1874. 35. . 158.

378

 , ,
, ?641.
1874 , ,
, , 642. 1874
, , , , .
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1875 , , 1875 , ,
.
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. 644, 8 .,
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. 1875. 14. . 293).
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1875. 1. . 56.
643
. 12 . // . 1875. 1. . 56, 28.
644
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379

 1 645. , ,
,
160 . . ,
,
, .
11 1875 .
, ,
,
646.
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, , 1870- .
, 647. , .
, , . 1860
.
, - .

645
. . . XIX . 1914 . / . . . .: , 1998. . 26.
646
.: . . , / . .
. ., 1917. 153 .; . . // . , / . . . .: . , 1902. . 110, 114, 125, 137.
647
10 , 1860 1870 ., 156 ( 60 , 1799 1860 . 166 ). , 1870 .
3 . ( 1,55
) ( . . / . . . .: . . , 1871. . 4851).

380

I . .
, . ,

. 1890 1912 . 578% (
55%:, 47% 32%,
238%, - 410%)648.

,
,
. ,
,
.

85% (30
33 ) , 67% ( 2 )
( ),
. V
.
649,
, (
40% ).

( . .)
,
. 650. VIII 75%
648

// . 1913. 42. . 6.
, .
.
649

381

650. VIII 75% ,

.

(
, )
. , (han) (hansatsu) . . hansatsu kinsatsu
ginsatsu . ,
,

651.
, 1759
, , .
,
, .
kinsatsu. 1869 . .
,
,
,
(furisashi gami), , (otegata),
.
650

. / . // ., .
. 2 . . 13. . 7.
651
Matsukata M. Report on the Adoption of the Gold Standard in Japan / M. Matsukata.
Tokyo: Government Press, 1899. P. 12; Shinjo H. History of the Yen: 100 years of
Japanese money-economy / H. Shinjo. Tokyo: Kinokuniya, 1962. P. 1112.

382

 , .
, , ( ), V 652. , .
,
.
XVIXVII , , 653.
Junin
ryogae ,
, (
2,5% )
. (ryo ).
, , ,
. ,
. ,
, , ,
.

, , , ,
.
. ,
652

(kabunakama), , .
653
// , . 1898.
21. . 492.

383

 ,
,
, 654.

1853 ,

. , ,
, ( , 15). .
1867 .
(Mitsuhito).
(meiji ), 1912 .,
. ,
, 655. 1889
,
, . 1869 . ,
(1 1,5 ), .
wakon
yosai , , ,
.
,
,
654

Marshall B. K. Capitalism and Nationalism in pre-war Japan: The Ideology of the

Business Elite / B. K. Marshall. Stanford: Stanford University Press, 1967. 163 .
655
Eiichi S. The autobiography of Shibusawa Eiichi: from peasant to entrepreneur / Eiichi
S. Tokyo: Teruko Craig, 1994. P. IX, X.

384

, , .

.

,
, , , .
, , . .
, . , ,
, ,
.

(
16 ) . 2400 23

2% 656.


. 1878 . , . . Keizai Zasshi, 1882 .
Kezai Zaku ,
,
.
656

Bernstein J. Japanese Capitalism / J. Bernstein // Creating Modern Capitalism. How

Entrepreneurs, Companies, and Countries Triumphed in Three Industrial Revolutions.
Cambridge: Harvard University Press, 1997. Ed. by T. McCraw. P. 447448.

385

 , ,
,
. (, )
, ,
,
657.
18721873 . , . , . ,
, , .

.
45% ;
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, , .
,
,
, . , ,
, . ,
657
. . XXI . .: , 2004. . 2223.
http://www.selishchev.com/china-book.files/china-books.html.
.: . /
. . .: , 2007. . 171172.
658
. . (. 3. ) / .
, . . .: , 2000. . 115.

386

 , (
)
.
. ,
.
, 1870 .
, ,
( , , ).
,
.
,
, , , , . 1885 .
1012% , 1890- 30%.
.
, shokusan kogyo, , .
,
. 1871 .
,
, .
,
. 1870
, 51 , 52 ,
, , 75 . 1900 . 3,6 . (2,8 .
, 0,8 . )659.

659
// , . 1901. 9. .
504505.

387

 , , , , , , . .
660,
,
,

. . 1214% . ,
, ,

.
- (zaibatsu )661.

Mitsui, Konoike, Sumitomo, Mitsubishi, 660

,
, .


, . 1892 . 1320 ,
. 2,5 , 175,1 . ,
. , .
661
, , , ; 70%
.
,
. , , , ,
, ,
, .

388

 .
(
Mitsui), 662.
1881 .
, ,
663.

(), , , () .,
( 1930-

).
1880- . 1868 1911 . 15,5 . 485,5 .; 10,7
572,0 . .

, .
1869 .
(Tsusoshi), , ,
(kawase kaisha)
, , , , , 662

, ( , ) , , .
,
. .
663
,
2,4 , 1887 . 12,6 . .
, ,
, , . , ,
,
245 1880 . 5 1890 .

389

, . , kaisha, .
(,
). , . ,
.
.
, 1870 . , ,
( 1860 . , ). 1872 . .
( 1876 .).
National Banking Acts of 1863 .,
664.
(kokuritso ginko), , . . 665.
60% 6%
kinsatsu, 40% 666.

( Daiichi Ginko,
. ) (3,45 ) 2,07 664

.
,
correspondent banking.
665
Roberts J. Mitsui: Three Centuries of Japanese Business / J. Roberts. N. Y.:
Weatherhill, 1973. P. 9899.
666
Shibusawa E. The Development of Banking / E. Shibusawa/ Fifty Years of New Japan
[Ed. S. Okuma]. 2 vols. Vol. 2. N. Y.: Kraus, 1970. . 493.

390

 .
60% .
,
1876
.
1876 , , . , , 30 190 667 ( 1880 . 76% ).
,

.
1870- 153 , -. , 1881 .668

18781881 .
( 1877 .) , . (Nippon Ginko), 10 1882 . , . ,
, .
, , ,
667

Hoshi T. Corporate Financing and Governance in Japan: The Road to the Future / T.
Hoshi, A. Kashyap. Cambridge (Massachusetts): MIT Press, 2004. . 20.
668
1880 . ,
, 1896 . , ; 1899 . , ; 1900 . ,
.

391

 . ,
,
.
1897 . 1523 305 ( 1098 211 ; 215 19,2 , 63 13,3
.)669. 1914
2144, 644. 775 , 2 .
9,19,9%

48 , 166
12%.
20 670.
1893 . Savings Bank Act ( ) ,
1900- .
, ,
, ,
.
,
, , .
1900 , ,

(Hypotec Bank of Japan), (Industrial Bank of Japan),
(Hokkaido Colonial Bank) (Bank of

669

// , . 1898.
21. . 423.
670
// . 1913. 3 (.). .
135.

392

Taiwan). .



,
.
, .
, 671.
, ,
, ,
, 4,8
1871 . 40,7 1873 ., 371,7 1895 ., 994,1 1904
. 2217,7 1906 .672
(
) 23 1870 1 9% 13
( 1873
7%.). .
. 1870
(0,063) ,
(0,026)673. Schroeder & Co.

(Horatio Nelson Lay).
120 . (12% ),
90 . (9% ), 30 . . 671

. . ( ).
. .: - . . , 1910. . 19.
672
Bchel H. Die Finanzen Japans / H. Bchel. Essen: Bdeker, 1908. S. 856.
673
Mauro P. Emerging markets and Financial Globalisaton / P. Mauro, N. Sussman, Y.
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393

 , , 674.
1870 1902 . (5 9 5%), 1904 1905 . - (
6 4,5%), 1905 1910 . , -, (4
4,54%). .
.

, , . 5%
40 . , ,
, ,
,

97%, 100%.
1870 . 1914 . 17
.

1870 . (9%) 1873 . (7%).
54%. , 60 (12- 13- 1910 .) (14- 1914 .).
30 (9- 1905 .) 1,5 (14- 15-
1913 .) 1 ( 1870 .). , , . ( Yokogama Specie Bank, Parr`s Bank,
Hongkong and Shanghai Bank)675.
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Checkland O. Britain`s Encounter with Meiji Japan, 18681912 / O. Checkland. L.:

Macmillan, 1989. P. 38.
675
5 18-
1915 . (5,75% 1 3 ), 19-
1924 . (6,5% 30 30,8 ), 20- 1924 . (6% -

394


1899 . ,
, , . . 6% 26 . , 1899 .
(6%, 92 .
), (6%,
315 . )676. , - .
. 1899 1912 .
13 , , (3 ).
1926 . ( ), 1927 . (), . , , London Group677. , 1906 1913 .
12
, - (South Manchuria Railway)678.
35 25 ), 21- 1930 . (5,5% 35 14,6
) 22- 1930 . (5,5% 35 12,5 ).

(Bytheway S. J. Investing Japan. Foreign Capital, Monetary Standards, and Economic
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676
Suzuki T. Japanese Government Loan Issues on the London Capital Market, 1870
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677
(1902, 1907, 1909, 1912),
(1906, 1912), (1909, 1912), (1903, 1909), (1909),
(1899). 6%, 1909 .
5%, , 78 (, 1903) 8 (,
1909). 9,1 (, 1912) 26 .
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678
Kansai Railway, Kanegafuchi Cotton Spinning Co.,
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) 6 ( - , 1911 .). ,
(Bytheway S. J. Investing Japan. Foreign Capital, Monetary Standards, and
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1870- . ,
, , , , . 1873
, 1870 ., , .
1876 ., 400 000
(5% )
190 . (chitsuroku)
. 1876 ,
, (public)
(kinroku).
. , 174 679,
40% 1876
.680
(39,9%), (44,1%),
(16%)681.
,
. .
( -

679

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Yamamura K. A Study of Samurai Income and Entrepreneurship: quantitative analyses
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396

), , .

1872 . , ( , Amagasaki,
Kurashiki, Kanebo , .).
,
. .
1884 .
1298 ( 1000
), 1893 . 4133, 1898 . 7044, 1900 . 8589.
. ,
1878 . 1887 . (
1893 .), , ,
30 000 . 1886 . 46 1897 .
. , (, 1890-,
)
( ) .
1867 . , . , ,
, .
,
300 (
Misuho Financial Group, ).

397

 682.
Kyushu Tetsudo,
1888 . 11 , 7,5
. 50
5 , 1888 .
38% . , 683.


(
200 ) ( 150 ). 1914 .
, 1920 . 1930-
( 12 1965 .)
( 5 1965 .).
, , 684. , , . 1890 . 15% , 1900 . 16%, 1910 . 17%.
, , 1920 .
(20%) , , 1940 . (25%).

82,5%
682

. / . .:
, 2002. 248 .
683
Hamao Y. Listing Policy and Development of the Tokyo Stock Exchange in the PreWar Period / Y. Hamao, T. Hoshi, T. Okazaki. 2006. . 22. www2.e.utokyo.ac.jp/~seido/DP/p68_Okazaki.pdf.
684
2,7% 1902 . 14,0% 1907 . 19,3% 1908 .; 2,6% 1912 .;
24,0% 1915 .; 9,8% 1924 .; 20,3% 1935 .
12,75% 1907 .; 16,46% 1917 .; 35,68% 1964 . (
5,68%; 11,78%; 21,98%) (Ohkawa K. Japanese Economic
Growth: trend acceleration in the twentieth century / K. Ohkawa, H. Rosovsky.
Stanford: Stanford University press, 1973. P. 33, 47).

398


, 7,8% , ( 9%) . , , .



, .
,
, .
685 ,
,
.
,
,
. .
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