Wealth of an Empire: The Treasure Shipments that Saved Britain and the World

by Robert Switky

Overview

Wealth of an Empire tells the dramatic true story of a top-secret mission that changed the course of World War II: Great Britain's shipment of virtually its entire treasury across the treacherous waters of the North Atlantic to safety in the United States and Canada. Had the Germans captured or sunk the treasure-laden ships, the war could have been lost more than eighteen months before the Japanese attack on Pearl Harbor.

The British government authorized this immensely risky and long-running operation not only because of the obvious danger that Germany's rising militancy posed but also because of the isolationist sentiment that permeated both American society and Congress. America's refusal to sell arms and other goods without payment up front left Britain little choice but to mount this daring operation.

Only a few banking, political, and military leaders were responsible for the complicated logistical and security procedures that were designed to safeguard the transfer of both gold and financial securities to North America. Although the special shipments were initially of relatively modest value, the strategic imperative changed dramatically when Germany threatened to invade Britain in the summer of 1940. Fearing that Britain's wealth might fall into German hands, in an audacious yet visionary decision newly installed prime minister Winston Churchill authorized the evacuation of nearly all of Britain's liquid assets.

Wealth of an Empire uses previously unused and unavailable original documents-including those from the British National Archives, the Bank of England's archives, the Imperial War Museum, and the Bank of Canada's archives-to shed new light on this underexplored aspect of Britain's wartime history.

Product Details

ISBN-13:	9781612344973
Publisher:	Potomac Books Inc.
Publication date:	09/30/2013
Sold by:	Barnes & Noble
Format:	eBook
File size:	4 MB

About the Author

Robert Switky is the coauthor of World Politics in the 21st Century (Longman, 2005) and America's War on Terrorism: A Case Study and the coeditor of The Political Consequences of Regional Trade Blocs (Ashgate, 2000). With a PhD in political science from Claremont Graduate University, he currently teaches at Sonoma State University and resides in Santa Rosa, California.

Table of Contents

List of Illustrations vi

Preface vii

1 Shoring Up Support 1

2 For the Sake of the Realm 11

3 Seeking Refuge from the Storm 22

4 Gold and the Phony War 37

5 Thin Armor 53

6 Into the Furnace of the War 71

7 Living from Hour to Hour 85

8 Keeping Mum 96

9 Taking Fearful Risks 116

10 Britain's Most Valuable Convoy 127

11 Clearing the Decks in Halifax 135

12 Speculation 156

13 Credit 169

Appendix 1 Code Names and Nicknames 175

Appendix 2 Tracking Ships and Shipments 177

Notes 181

Bibliography 227

Index 235

About the Author 247

Editorial Reviews

"Wealth of an Empire is great military history about politics, economics, strategy, and campaigns providing an abundance of valuable resources and references."—Maj. Scott Hopkins, Military Review

Military Review - Maj. Scott Hopkins