The recent rekindling of interest in the historiography of early nineteenth-century South Africa has suggested that the development of capitalist economic relations should receive careful scrutiny. Already much pioneering work has been done, particularly with regard to the impact of capitalism on traditional or pre-industrial societies.1 In many of these studies, however, the internal dynamic of the evolution of capitalist economic relations has been at best only partially explained. It is against this background that attention has shifted to an inquiry of the individual capitalist and his institutions. This chapter attempts to add to this knowledge by using the concept of linkages in economic development to reflect on the periodisation of bank creation and growth within the Eastern Cape, and particularly Grahamstown as the chief town of the region, between 1830 and the 1870s, using the example of the Eastern Province Bank.
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- Early Capitalism in the Cape: The Eastern Province Bank, 1839–73
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