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DESCRIPTION:Juliette Françoise (University of Geneva)\n\nIn April 1784\, Pi
 erre Paul de la Bauve Darifat fled from the Isle of France (Mauritius) to 
 Madagascar and then to Madras. He left behind him a huge debt\, many credi
 tors\, and unsettled businesses on the island\, across the Indian Ocean\, 
 and in France. His 15 to 18 million livres tournois bankruptcy triggered a
  chain reaction of bankruptcies that threatened to destroy the island’s ec
 onomy. Interestingly enough\, the King of France was one of his creditors.
  The colonial affair\, marred by scandals and public rumors\, incriminated
  both the local administration’s practices of corruption and the risky cre
 dit schemes set up to finance colonial contracting at a time of war and th
 e Eurasian long-distance trade\, especially China’s trade. I argue that to
  recover all the derbies of this story\, one has to look at money. The mon
 etary value of goods\, enslaved people\, land\, and financial assets was a
 s volatile as colonial fortunes. Movable\, immovable\, and state’s and pri
 vate IOUs represented more or less stable collateral and more or less liqu
 id capital on which credit networks were built to extend liquidity. On the
  colonial island\, the Ancien Regime’s diffused credit practices were exac
 erbated by endless—temporal and geographical—deferral of payment to financ
 e public and private activities while creating opportunities for speculati
 on and arbitrage. Yet when debts came due and credit lines ran out\, ready
  money was needed. This archive-based case study shows how monetary device
 s—notably paper money—tied long-distance trade and early modern European o
 verseas empires’ formation together as they allowed to pay\, postpone paym
 ent\, and transfer value across oceans.\n	\n	Light refreshments served.\n
DTSTART:20241120T200000Z
DTEND:20241120T220000Z
LOCATION:116\, Peterson Hall\, CA\, QC\, Montreal\, H3A 0E6\, 3460 rue McTa
 vish
SUMMARY:IOWC Speaker Series - Juliette Françoise\, 'A Colonial Scandal Born
  of a Web of Debts: Paul Darifat’s Bankruptcy in the Isle of France in the
  Late Eighteenth Century'
URL:/history/channels/event/iowc-speaker-series-juliet
 te-francoise-colonial-scandal-born-web-debts-paul-darifats-bankruptcy-isle
 -359644
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