London as a Global Financial Center

London as a Global Financial Center

  • Case

How, by 1900, had London become the world's pre-eminent commercial center? Over the centuries, England's capital city of London was transformed from a swampy area on the Thames, to a military headquarters for the Romans, to a chief settlement of the Saxons, to the political seat for the Normans, to a trading center during the middle ages, and finally to a financial and political capital that by the 19th century was the most powerful city in the world. As historian Jack Weatherford summarized it, “From the offices, conference halls, and trading rooms of the City flowed the money that kept Nelson's ships supplied at Trafalgar, financed the conquest of India, underwrote the mines of South America and the railroads of the world, supervised the banks ...

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