Phenomenon of gold and diamond rushes as territorial, mining and socio-cultural development of continental spaces of North America and Australia (Part I)
Journal Title: Схід - Year 2017, Vol 149, Issue 3
Abstract
This series of articles systematizes the events of settlement and economic development of vast spaces of North America, Australia, South Africa and North Asia, which are related to the movement of gold and diamond hunters (gold and diamond rushes). A chronological survey of the events is offered, the general phenomenon analyzed as well as specific aspects of its historical, mining, geological and organizational constituents covered. The material is divided into three separate but thematically united parts which describe the phenomenon of gold rush-spontaneous large-scale gold mining at newly discovered deposits in remote (for Europeans) parts of the world in the second half of the 19th century - the early 20th century. The impact of gold rushes in North America and Australia on the processes of global economic and financial transformations is shown. Large outputs resulted in setting a monetary gold standard which had been in place up to World War I: a wide turnover of gold coins, displacement of silver which began to act as token money as well as free exchange of paper money for gold coins. The above contributed to a sustainable development of world money relations which gave rise to a global financial system in the modern sense; a significant banks' influence on economic transformations as well as establishment of international centers for financial capital. Huge gold reserves were purposefully accumulated in the USA which, extracting an ample quantity of gold in its territory, bought up a considerable part of the world gold output, which eventually secured the key status of the American currency in world trade. Extracted gold played a key role in provision of financial resources for large-scale industrial development of the industrial epoch. Numerous migrations of working people from gold mining sites promoted the development and settlement of remote territories as well as the utilization of their natural resources in the global economic development.
Authors and Affiliations
Gennadiy Gayko
Keywords
Related Articles
- EP ID EP425883
- DOI 10.21847/1728-9343.2017.3(149).108121
- Views 129
- Downloads 0
TRENDS IN ECONOMIC DEVELOPMENT OF THE REGIONS UKRAINE
The article defines the current state of economic development the territories of Ukraine. Important factors that determine it are macro- and microeconomic. On a national scale, the indicator of gross domestic product is...
THEODICY OF BENEDICTUS SPINOZA
This article examines Baruch Benedictus Spinoza conceptual understanding of the proofs for the existence of God. It traces the evolution of this theme pursuant to the metaphysical studies of Moderns Philosophy. Тhe conce...
Egypt in Middle East policy of the USSR (1957-1961)
The article examines Soviet-Egyptian relations from the beginning of 1957 (the completion of the Suez crisis) to the Autumn 1961, when the XXII Congress of the CPSU took place. The Egyptian vector of Soviet foreign poli...
The concept "personality" in book "The Beauty of the Infinite" of David Hart
The article critically analyzes concept of "personality" in Orthodox theology of American thinkers D.B.Hart. Personology of D.B.Hart present the contours of Orthodox postmodern theology. Orthodox thought in its historica...
Historical experience of CSTO member states to organize and conduct joint operations in the information area
Information security is a component of the state national security. In this regard, the urgent issue today is to ensure the security of state information resources, protection of vital interests of society in the informa...