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Victorian Britain offered to the globe an economic structure of unique complexity. The trading nation, at the heart of a great empire, developed the practices of advanced capitalism - currency, banking, investment, money markets, business practices and theory, intellectual property legislation - from which the financial systems of the contemporary world emerged. Cultural forms in Victorian Britain transacted with high capitalism in a variety of ways but literary critics interested in economics have traditionally been preoccupied either with writers' hostility to industrial capitalism in terms of its shaping of class, or with the development of consumerism. Victorian Literature and Finance is the first extended study to take seriously the relationships between literary forms and those more complex discourses of Victorian high finance. These essays move beyond the examination of literature that was merely impatient with the perceived consequences of capitalism to analyze creative relationships between culture and economic structures. Considering such topics as the nature of currency, women and the culture of investment, the profits of a modern media age, the dramatization of risk on the Victorian stage, the practice of realism in relation to business theory, the culture of speculation at the end of the century, and arguments about the uncomfortable relationship between literary and financial capital, Victorian Literature and Finance sets new terms for understanding and theorizing the relationship between high finance and literary writing.
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V I C TO R I A N L I T E R AT U R E A N D F I N A N C E
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Victorian Literature and Finance Edited by
FRANCIS O’GORMAN
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Great Clarendon Street, Oxford ox2 6dp Oxford University Press is a department of the University of Oxford. It furthers the University’s objective of excellence in research, scholarship, and education by publishing worldwide in Oxford New York Auckland Cape Town Dar es Salaam Hong Kong Karachi Kuala Lumpur Madrid Melbourne Mexico City Nairobi New Delhi Shanghai Taipei Toronto With offices in Argentina Austria Brazil Chile Czech Republic France Greece Guatemala Hungary Italy Japan Poland Portugal Singapore South Korea Switzerland Thailand Turkey Ukraine Vietnam Oxford is a registered trade mark of Oxford University Press in the UK and in certain other countries Published in the United States by Oxford University Press Inc., New York © The various contributors 2007; © In the editorial matter Francis O’Gorman, 2007
The moral rights of the authors have been asserted Database right Oxford University Press (maker) First published 2007 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, without the prior permission in writing of Oxford University Press, or as expressly permitted by law, or under terms agreed with the appropriate reprographics rights organization. Enquiries concerning reproduction outside the scope of the above should be sent to the Rights Department, Oxford University Press, at the address above You must not circulate this book in any other binding or cover and you must impose the same condition on any acquirer British Library Cataloguing in Publication Data Data available Library of Congress Cataloging in Publication Data Data available Typeset by Laserwords Private Limited, Chennai, India Printed in Great Britain on acid-free paper by Biddles Ltd., King’s Lynn, Norfolk ISBN 978–0–19–928192–3 1 3 5 7 9 10 8 6 4 2
For Katy Mullin, with love
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Acknowledgements Many thanks to a number of people with whom I have discussed this book and its aims especially Professor Bridget Bennett, Professor Dinah Birch, Dr Nancy He