Take the risk out of financial risk management Written by bestselling author and past winner of the GARP Award's Risk Manager of the Year, Aaron Brown, Financial Risk Management For Dummies offers thorough and accessible guidance on successfully managing and controlling financial risk within your company. Through easy-to-follow instruction, you'll find out how to manage risk, firstly by understanding it, and then by taking control of it. Plus, you'll discover how to measure and value financial risk, set limits, stop losses, control drawdowns and hedge bets. Financial risk management uses financial instruments to manage exposure to risk within firms, large and small—particularly credit risk and market risk. From managing and measuring risk to working in financial institutions and knowing how to communicate risk to your company and clients, Financial Risk Management For Dummies makes it easy to make sense of the management of risk when working in various different financial institutions and concludes by covering the topic of how to communicate risk — how to report it properly and how to deal with and comply with all of the regulations. Covers managing risk and working as a financial risk manager Provides everything you need to know about measuring financial risk Walks you through working in financial institutions Demonstrates how to communicate risk If you work in the financial sector and want to make financial risk management your mission, you've come to the right place!
Do you have what it takes to become a game developer? With this hands-on book, you'll learn quickly and easily how to develop computer games with Microsoft's XNA 3.0 framework-not just for your PC, but for Xbox 360 and the Microsoft Zune as well. Written by an experienced university-level game development instructor, Learning XNA 3.0 walks you through the framework in a clear and understandable step-by-step format. Each chapter offers a self-contained lesson with lots of illustrations and annotated examples to help you master key concepts. Once you finish the book, you'll know how to develop sophisticated games from start to finish. Learn game development concepts from 2D animation to 3D cameras and effects Delve into high-level shader language (HLSL) and introductory artificial intelligence concepts Develop three complete and exciting games using 2D,3D and multiplayer concepts Develop and deploy games to the Xbox 360 and the Microsoft Zune While teaching XNA to beginning game developers, author Aaron Reed noticed that several key concepts were difficult for students to grasp. Learning XNA 3.0 was written specifically to address those issues. With this book, you can test your understanding and practice new skills as you go with unique "Test Your Knowledge" exercises and review questions in each chapter. Why wait? Amaze your family and friends by building your own games for the PC, Xbox 360, and Zune-with Learning XNA 3.0. "An outstanding book! Teaches you XNA development in a smart way, starting from 2D basics and going into 3D and shader development. What I really like is the 'peeling the onion' approach the author takes, which builds up knowledge from previous chapters."--David "LetsKillDave" Weller, CEO, Cogito Ergonomics, LLC, and former XNA program manager
An all-in-one resource on power system protection fundamentals, practices, and applications Made up of an assembly of electrical components, power system protections are a critical piece of the electric power system. Despite its central importance to the safe operation of the power grid, the information available on the topic is limited in scope and detail. In Power System Protection: Fundamentals and Applications, a team of renowned engineers delivers an authoritative and robust overview of power system protection ideal for new and early-career engineers and technologists. The book offers device- and manufacturer-agnostic fundamentals using an accessible balance of theory and practical application. It offers a wealth of examples and easy-to-grasp illustrations to aid the reader in understanding and retaining the information provided within. In addition to providing a wealth of information on power system protection applications for generation, transmission, and distribution facilities, the book offers readers: A thorough introduction to power system protection, including why it's required and foundational definitions Comprehensive explorations of basic power system protection components, including instrument transformers, terminations, telecommunications, and more Practical discussions of basic types of protection relays and their operation, including overcurrent, differential, and distance relays In-depth examinations of breaker failure protection and automatic reclosing, including typical breaker failure tripping zones, logic paths, pedestal breakers, and more Perfect for system planning engineers, system operators, and power system equipment specifiers, Power System Protection: Fundamentals and Applications will also earn a place in the libraries of design and field engineers and technologists, as well as students and scholars of power-system protection.
Cooperative rule -- Pedagogies of community development -- Anti-empire, development, and emergency rule -- Uganda's anticolonial cooperative movement -- Cooperatives and decolonization in postwar Britain.
A major work of financial theory and practice with immediate relevance to the rebuilding of the economy, and restoring the promise of equality When the government decides to spend money, it simply creates the necessary funds for itself--as if out of thin air. That's how we pay for interstate highways, post offices, wars, social services, and economic stimulus packages. If it's that easy to make money . . . can't we all get more of it? Absolutely. And we should. So argue financial regulation expert Robert Hockett and bestselling philosopher Aaron James in this eye-opening, irreverent, and inspiring exploration of what the dollar really is. And better still, they show how we can build an economy that works for everybody without unwanted taxes and added regulations. In the process, we learn how disingenuous the political rhetoric surrounding inflation can be, how the demonized concept of the deficit is really just another way of tallying our collective national wealth, and how a strong central bank could free us from the abuses of private banking. With broad historical background and ambitious yet practical institutional proposals, Hockett and James offer a new vision of public finance--people's banking for a people's economy. Armed with this new outlook, we can even stop worrying debt and learn to love a strong, accountable, and transparent Federal Reserve as a cornerstone of our democracy.
Corruption, Party, and Government in Britain, 1702-1713 offers an innovative and original reinterpretation of state formation in eighteenth-century Britain, reconceptualising it as a political and fundamentally partisan process. Focussing on the supply of funds to the army during the War of the Spanish Succession (1702-13), it demonstrates that public officials faced multiple incompatible demands, but that political partisanship helped to prioritise them, and to hammer out settlements that embodied a version of the national interest. These decisions were then transmitted to agents in overseas through a mixture of personal incentives and partisan loyalties which built trust and turned these informal networks into instruments of public policy. However, the process of building trust and supplying funds laid officials and agents open to accusations of embezzlement, fraud and financial misappropriation. In particular, although successive financial officials ran entrepreneurial private financial ventures that enabled the army overseas to avoid dangerous financial shortfalls, they found it necessary to cover the costs and risks by receiving illegal 'gratifications' from the regiments. Reconstructing these transactions in detail, this book demonstrates that these corrupt payments advanced the public service, and thus that 'corruption' was as much a dispute over ends as means. Ultimately, this volume demonstrates that state formation in eighteenth-century Britain was a contested process of interest aggregation, in which common partisan aims helped to negotiate compromises between various irreconcilable public priorities and private interests, within the frameworks provided by formal institutions, and then collaboratively imposed through overlapping and intersecting networks of formal and informal agents.
Get the latest tools in fraud auditing and get rid of fraud in your organization With the responsibility of detecting and preventing fraud placed directly on the accounting profession, you are responsible for recognizing fraud and learning the tools and strategies necessary to stop it. Fraud Auditing and Forensic Accounting, Third Edition shows you how to develop an investigative eye toward both internal and external fraud and provides crucial information on how to deal with it when discovered. This authoritative, timely book equips auditors, investigators, corporate attorneys, and accountants to identify the signs of financial fraud and successfully investigate it. This new edition will enable you to: Recognize the characteristics of organizations in which fraud is likely to occur Detect and deter accounting fraud, using the most recently developed techniques Conduct an efficient, systematic fraud investigation Use the latest methods for documenting fraud and preparing evidence-and much more PRAISE FOR Fraud Auditing and Forensic Accounting, Third Edition "An excellent primer for developing and implementing an antifraud program as part of a SOX 404, fraud prevention and detection process. A clear and concise history of fraud and the methods needed to deter it now and for the future. It is like having a professor on call and in your office when you need one. Well written with easy-to-understand definitions and examples, this is a must-read for anyone who is putting a financial investigation unit in place." —George Mullins, CFE, HealthSouthInternal Audit Manager and Project Manager, Antifraud Program "The book is an excellent anti-fraud resource for those professionals charged with the responsibility of detecting, investigating, and preventing fraud. I also highly recommend it to educators as a prospective textbook for a semester-long course in macro fraud examination." —Thomas Buckhoff, PhD, CPA, CFE, Associate Professor of Forensic Accounting, Georgia Southern University, and Principal, FraudWise, LLC "This book, better than any other in print, hits the subject areas I cover in my fraud examination and forensic accounting class. The authors have done a great job of presenting complicated terms and techniques in a manner for students to understand. I particularly like the presentation of a fraud's endgame, namely the court case that recovers assets and puts these creeps in jail." —Douglas E. Ziegenfuss, Professor and Chair, Department of Accounting,Old Dominion University
Why society needs to reclaim the power to create money At the heart of capitalism lies the ability of private banks to create money at the stroke of a key. Why have we ignored this unique privilege for so long – and at what cost? Aaron Sahr attributes the lack of attention paid to money creation to the core of popular theories of capitalism, which equate economic power with capital ownership. This conceptual framework obscures the real drivers of capitalist dynamics as well as the causes of increasing inequality. By exploring the transformation of banking over the last half century, Sahr shows how the creation of money has driven the rise of finance as well as splitting incomes from wealth. As a result, the real economy of ordinary people has become a debt supplier to a monetary system whose returns accumulate at the top. It is not simply the markets but money itself that transfers wealth from the masses to a minority. Increasing financial inequality can therefore only be remedied by addressing predistribution – the modalities of money creation – as well as the distributive effects of the markets. By mapping this hidden regime of ‘keystroke capitalism’, Sahr makes an essential contribution to our understanding of economic inequality and capitalist dynamics.
This book applies the contents of a working economist’s tool-kit to explain, clearly and intuitively, when and why over the course of four centuries individuals, families, and enterprises decided to locate in or around the lower Hudson River Valley. Collectively those millions of decisions have made New York one of the twenty-first century’s few truly global cities. A recurrent analytic theme of this work is that the ups and downs of New York’s trajectory are best understood in the context of what was happening elsewhere in the broader Atlantic world. Readers will find that the Atlantic perspective viewed through an economic lens goes a long way toward clarifying otherwise quite perplexing historical events and trends.
This book is about investing in what could well be the greatest opportunity in the 21st century. There is no comparable book that looks at the opportunity that is India from a wealth-creating perspective nor examines the depth of opportunity from a western perspective. This book offers no ponderous policy prescriptions nor pontificates in any way. It describes the opportunities and charts a course through them. It is for those people interested in a great new market but who may not know anything beyond what the newspapers say and lack an understanding of a very lucrative proposition. This book aims to take a gigantic leap in terms of a foreign investor's understanding of where India stands financially and what its market represents in terms of an opportunity for them.
Get up to speed on Apache Accumulo, the flexible, high-performance key/value store created by the National Security Agency (NSA) and based on Google’s BigTable data storage system. Written by former NSA team members, this comprehensive tutorial and reference covers Accumulo architecture, application development, table design, and cell-level security. With clear information on system administration, performance tuning, and best practices, this book is ideal for developers seeking to write Accumulo applications, administrators charged with installing and maintaining Accumulo, and other professionals interested in what Accumulo has to offer. You will find everything you need to use this system fully. Get a high-level introduction to Accumulo’s architecture and data model Take a rapid tour through single- and multiple-node installations, data ingest, and query Learn how to write Accumulo applications for several use cases, based on examples Dive into Accumulo internals, including information not available in the documentation Get detailed information for installing, administering, tuning, and measuring performance Learn best practices based on successful implementations in the field Find answers to common questions that every new Accumulo user asks
This updated textbook explains the legal concepts, regimes and actors that regulate international business transactions. The book guides readers through the major aspects of international business law using state-of-the-art teaching techniques and offers comprehensive coverage on key treaties, legal aspects of international commerce and the regulation of global trade and investment.
An innovative guide that identifies what distinguishes the best financial risk takers from the rest From 1987 to 1992, a small group of Wall Street quants invented an entirely new way of managing risk to maximize success: risk management for risk-takers. This is the secret that lets tiny quantitative edges create hedge fund billionaires, and defines the powerful modern global derivatives economy. The same practical techniques are still used today by risk-takers in finance as well as many other fields. Red-Blooded Risk examines this approach and offers valuable advice for the calculated risk-takers who need precise quantitative guidance that will help separate them from the rest of the pack. While most commentators say that the last financial crisis proved it's time to follow risk-minimizing techniques, they're wrong. The only way to succeed at anything is to manage true risk, which includes the chance of loss. Red-Blooded Risk presents specific, actionable strategies that will allow you to be a practical risk-taker in even the most dynamic markets. Contains a secret history of Wall Street, the parts all the other books leave out Includes an intellectually rigorous narrative addressing what it takes to really make it in any risky activity, on or off Wall Street Addresses essential issues ranging from the way you think about chance to economics, politics, finance, and life Written by Aaron Brown, one of the most calculated and successful risk takers in the world of finance, who was an active participant in the creation of modern risk management and had a front-row seat to the last meltdown Written in an engaging but rigorous style, with no equations Contains illustrations and graphic narrative by renowned manga artist Eric Kim There are people who disapprove of every risk before the fact, but never stop anyone from doing anything dangerous because they want to take credit for any success. The recent financial crisis has swelled their ranks, but in learning how to break free of these people, you'll discover how taking on the right risk can open the door to the most profitable opportunities.
Wall Street is where poker and modern finance?and the theory behind these "games"?clash head on. In both worlds, real risk means real money is made or lost in a heart beat, and neither camp is always rational with the risk it takes. As a result, business and financial professionals who want to use poker insights to improve their job performance will find this entertaining book a "must read." So will poker players searching for an edge in applying the insights of risk-takers on Wall Street.
This book brings together for the first time more than half a dozen proposals for an imperial paper currency in the mid-eighteenth century British Atlantic, to show how manage colonial currency and banking in the expanding empire. Existing studies have looked at the successes and failures of schemes in individual colonies. But some had grander ambitions, such as Benjamin Franklin, and offered proposals for ‘imperial’ or ‘continental’ paper currencies and monetary unions which would help knit together colonial territories throughout North America and even the Caribbean into a cohesive whole during a moment of imperial reform. This book brings together these proposals for the first time, including several never studied before, to show how thinkers and writers on empire, currency and finance drew on financial practices, precedents and principles from across the British Atlantic to present their own visions of monetary union and the future of empire. In doing so it makes an important and original contribution to the wider histories of monetary and financial thought and theory and the roots of American monetary policy, and the links between finance, empire, politics, reform and revolution. It will be of interest to academics working on the history of finance, banking and currency in the British Isles, North America and the Caribbean in the eighteenth century, as well as those working on the political economy of the British Empire, including mercantilism, trade, warfare and the politics of empire in the decades leading up to the American Revolution.
Architects of Austerity argues that the seeds of neoliberal politics were sown in the 1950s and 1960s. Suggesting that the postwar era was less socially democratic than we think, Aaron Major presents a comparative-historical analysis of economic policy in the United States, the United Kingdom, and Italy during the early 1960s. In each of these cases, domestic politics shifted to the left and national governments repudiated the conservative economic policies of the past, promising a new way forward. Yet, these social democratic experiments were short-lived and deeply compromised. Why did the parties of change become the parties of austerity? Studies of social welfare policy in these countries have emphasized domestic factors. However, Major reveals that international social forces profoundly shaped national decisions in these cases. The turn toward more conservative economic policies resulted from two critical shifts on the international stage. International monetary organizations converged around an orthodox set of ideas, and a set of institutional transformations within the Bretton Woods system made the monetary community more central to financial management. These changes gave central banks and treasuries the capacity to impose their ideas on national governments. Architects of Austerity encourages us to critically consider the power that we vest in public financial authorities, which have taken on an ever larger role in international economic regulation.
Aaron W. Marrs challenges the accepted understanding of economic and industrial growth in antebellum America with this original study of the history of the railroad in the Old South. Drawing from both familiar and overlooked sources, such as the personal diaries of Southern travelers, papers and letters from civil engineers, corporate records, and contemporary newspaper accounts, Marrs skillfully expands on the conventional business histories that have characterized scholarship in this field. He situates railroads in the fullness of antebellum life, examining how slavery, technology, labor, social convention, and the environment shaped their evolution. Far from seeing the Old South as backward and premodern, Marrs finds evidence of urban life, industry, and entrepreneurship throughout the region. But these signs of progress existed alongside efforts to preserve traditional ways of life. Railroads exemplified Southerners' pursuit of progress on their own terms: developing modern transportation while retaining a conservative social order. Railroads in the Old South demonstrates that a simple approach to the Old South fails to do justice to its complexity and contradictions. -- Dr. Owen Brown and Dr. Gale E. Gibson
The history of capitalism in Egypt has long been synonymous with cotton cultivation and dependent development. From this perspective, the British occupation of 1882 merely sealed the country's fate as a vast plantation for European textile mills. All but obscured in such accounts, however, is Egypt's emergence as a colonial laboratory for financial investment and experimentation. Egypt's Occupation tells for the first time the story of that financial expansion and the devastating crises that followed. Aaron Jakes offers a sweeping reinterpretation of both the historical geography of capitalism in Egypt and the role of political-economic thought in the struggles that raged over the occupation. He traces the complex ramifications and the contested legacy of colonial economism, the animating theory of British imperial rule that held Egyptians to be capable of only a recognition of their own bare economic interests. Even as British officials claimed that "economic development" and the multiplication of new financial institutions would be crucial to the political legitimacy of the occupation, Egypt's early nationalists elaborated their own critical accounts of boom and bust. As Jakes shows, these Egyptian thinkers offered a set of sophisticated and troubling meditations on the deeper contradictions of capitalism and the very meaning of freedom in a capitalist world.
On the eve of the Civil War, the estimated value of the U.S. enslaved population exceeded $3 billion--triple that of investments nationwide in factories, railroads, and banks combined, and worth more even than the South's lucrative farmland. Not only an object to be traded and used, the slave was also a kind of currency, a form of value that anchored the market itself. And this value was not destroyed in the war. Slavery still structured social relations and cultural production in the United States more than a century after it was formally abolished. As Aaron Carico reveals in Black Market, slavery's engine of capital accumulation was preserved and transformed, and the slave commodity survived emancipation. Through both archival research and lucid readings of literature, art, and law, from the plight of the Fourteenth Amendment to the myth of the cowboy, Carico breaks open the icons of liberalism to expose the shaping influence of slavery's political economy in America after 1865. Ultimately, Black Market shows how a radically incomplete and fundamentally failed abolition enabled the emergence of a modern nation-state, in which slavery still determined--and now goes on to determine--economic, political, and cultural life.
Dilemmas of Presidential Leadership challenges the widely accepted distinction between "traditional" and "modern" presidencies, a dichotomy by which political science has justified excluding from its domain of inquiry all presidents preceding Franklin Roosevelt. Rather than divide history into two mutually exclusive eras, Richard Ellis and Aaron Wildavsky divide the world into three sorts of people-egalitarians, individualists and hierarchs. All presidents, the authors contend, must manage the competition between these rival political cultures. It is this commonality which lays the basis for comparing presidents across time. To summarize and simplify, the book addresses two general categories of presidencies. The first is the president with a blend of egalitarian and individualist cultural propensities. Spawned by the American revolution, this anti-authoritarian cultural alliance dominated American politics until it was torn asunder by what Charles Beard has called the second American revolution, the Civil War. The Jeffersonian and Jacksonian presidents labored, with varying degrees of success, to square the exercise of authority with their own and their followers' ami-: authoritarian principles. They also were faced with intraparly conflicts that periodically flared up between egalitarian and individualist followers. The president with hierarchical cultural propensities faced different problems. While the precise contours of the dilemma varied, all straggled in one way or another to reconcile their own and their party's preferences with the anti-hierarchical ethos that inhered in the society and the polity. Hierarchical presidents like Washington and Adams were hamstrung by this dilemma, as were Whig leaders like Henry Clay and Daniel Webster who aspired to the presidency but never achieved it. .Abraham Lincoln's greatness resided in part in his ability to resolve the hierarch's dilemma. He operated in wartime when he could invoke the commander-in-chief clause, and he created a new cultural combination in which hierarchy was subordinated to individualism. This, suggest the authors, was a key to his greatness. The unique dimension of this volume is its use of cultural theory to explain presidential behavior. It also differs from other books in that, it deals with pre-modern presidents who are too often treated as only of antiquarian interest in mainstream political science literature on the presidency. The analysis lays the groundwork for a new basis for comparison of early presidents with modern presidents.
A breakthrough title explaining effective, cost-efficient collection methods In a down economy, the demand for a successful credit and collection game plan increases. Credit & Collections Kit For Dummies is a comprehensive guide for people involved in collection activities with accounts/clients, helping readers approach the often difficult task of collecting from late/slow paying customers, as well as determining when (and if) to extend credit to questionable ones. It gives readers the expert information and tools designed to ensure that their collection methods are both effective and legal. The book's attached CD includes helpful scripts, forms, letters, templates, and spreadsheets to help readers work efficiently and effectively. Note: CD-ROM/DVD and other supplementary materials are not included as part of eBook file.
Want to develop games for Xbox 360 and Windows Phone 7? This hands-on book will get you started with Microsoft's XNA 4.0 development framework right away -- even if you have no experience developing games. Although XNA includes several key concepts that can be difficult for beginning web developers to grasp, Learning XNA 4.0 shortens the learning curve by walking you through the framework in a clear and understandable step-by-step format. Each chapter offers a self-contained lesson with illustrations and annotated examples, along with exercises and review questions to help you test your understanding and practice new skills as you go. Once you've finished this book, you'll know how to develop your own sophisticated games from start to finish. Learn game development from 2D animation to 3D cameras and effects Delve into high-level shader language (HLSL) and introductory artificial intelligence concepts Build three complete, exciting games using 2D, 3D, and multiplayer techniques Develop for and deploy your games to the Xbox 360 and Windows Phone 7
This title is one of the "Essentials" IT Books published by TechNet Publications Limited. This Book is a very helpful practical guide for beginners in the topic , which can be used as a learning material for students pursuing their studies in undergraduate and graduate levels in universities and colleges and those who want to learn the topic via a short and complete resource. We hope you find this book useful in shaping your future career. This book will be available soon...
If you're seriously considering a career in private equity, you have to become familiar with how firms hire. With Getting a Job in Private Equity, you'll gain invaluable insights that will allow you to stay one step ahead of other individuals looking to secure a position in this field. Here, you'll discover what it takes to make it in PE from different entry points, what experience is needed to set yourself up for a position, and what can be done to improve your chances of landing one of these limited opportunities.
What is the one thing that no one can do without? Water. Where water crosses boundaries – be they economic, legal, political or cultural – the stage is set for disputes between different users trying to safeguard access to a vital resource, while protecting the natural environment. Without strategies to anticipate, address, and mediate between competing users, intractable water conflicts are likely to become more frequent, more intense, and more disruptive around the world. In this book, Delli Priscoli and Wolf investigate the dynamics of water conflict and conflict resolution, from the local to the international. They explore the inexorable links between three facets of conflict management and transformation: Alternative Dispute Resolution (ADR), public participation, and institutional capacity. This practical guide will be invaluable to water management professionals, as well as to researchers and students in engineering, economics, geography, geology, and political science who are involved in any aspects of water management.
Footsteps in the Fog is a celebration of the San Francisco films of Alfred Hitchcock. The master director's familiarity with Northern California greatly influenced his decision to use Bay Area locations in several of his landmark motion pictures, and more importantly was often the source of inspiration for many of these same cinema classics. Three of Hitchcock's masterpieces were set in the San Francisco area: Shadow of a Doubt, Vertigo, and The Birds. In addition, Rebecca, Suspicion, Marnie, Topaz, Psycho, and Family Plot utilized Bay Area locations and/or were inspired by Northern California events and settings. Footsteps in the Fog examines these famous films, taking the reader on a journey around the Bay Area, while weaving together cinemagraphic intrigue, Bay Area history and lore, and the timeless elegance of San Francisco and its picturesque surroundings. Over 400 historical and contemporary photos are featured in the book, including impromptu off-camera images and shots from the films themselves—many never before seen! Footsteps in the Fog can be used as a companion to viewing the Northern California Hitchcock films, as a guide for visiting the sites and settings used in these motion pictures, and as a source of biographical information about Alfred Hitchcock's personal connections to San Francisco and the Bay Area. Hitchcock loved Northern California; he often entertained Hollywood celebrities at his ranch and vineyard outside of Santa Cruz, and frequented such San Francisco institutions as Jack's Restaurant, the Fairmont Hotel, the Top of the Mark, and the historic Bercut Brothers' Grant Market. Hitchcock fans everywhere will rejoice as they revisit and rediscover the locations and settings used in the great director's most beloved films.
Builders of a New South describes how, between 1865 and 1914, ten Natchez mercantile families emerged as leading purveyors in the wholesale plantation supply and cotton handling business, and soon became a dominant force in the social and economic Reconstruction of the Natchez District. They were able to take advantage of postwar conditions in Natchez to gain mercantile prominence by supplying planters and black sharecroppers in the plantation supply and cotton buying business. They parlayed this initial success into cotton plantation ownership and became important local businessmen in Natchez, participating in many civic improvements and politics that shaped the district into the twentieth century. This book digs deep in countless records (including census, tax, property, and probate, as well as thousands of chattel mortgage contracts) to explore how these traders functioned as entrepreneurs in the aftermath of the Civil War, examining closely their role as furnishing merchants and land speculators, as well as their relations with the area's planters and freed black population. Their use of favorable laws protecting them as creditors, along with a solid community base that was civic-minded and culturally intact, greatly assisted them in their success. These families prospered partly because of their good business practices, and partly because local whites and blacks embraced them as useful agents in the emerging new marketplace. The situation created by the aftermath of the war and emancipation provided an ideal circumstance for the merchant families, and in the end, they played a key role in the district's economic survival and were the prime modernizers of Natchez.
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