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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Currency, credit and capitalism on the Cross River in the pre-colonial Era
Author:Latham, A.J.H.
Year:1971
Periodical:The Journal of African History
Volume:12
Issue:4
Pages:599-605
Language:English
Geographic term:Nigeria
Subject:currencies
External link:https://www.jstor.org/stable/181016
Abstract:Mary Douglas ('Primitive Rationing: A Study in Controlled Exchange', in R. Firth, Themes in Economic Anthropology, London 1967, P. 119-147) distinguished: a) general purpose currencies, b) primitive rationing systems. The general purpose currencies are used as a medium of exchange without restriction; in the primitive rationing systems the unit is used to control the distribution of status goods, in order to reinforce the social order. Bohannan's analysis of the Tiv copper rod currency ('Some Principles of Exchange and Investment among the Tiv', Amer. Anthr. 57, 1955, p. 60-70) is regarded by Mary Douglas as the best example of the primitive rationing system. Despite Bohannan's analysis, there is ample evidence that elsewhere in the Cross River rod currency area, rods divided into wires were used as a medium of exchange for everyday consumer goods, and were clearly a general purpose currency. The rod facilitated credit, and the accumulation of capital in the capitalistic commercial system. Notes, summary.
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