The nature of money

This chapter provides an overview of the history of gold mining in Brazil during the eighteenth century, with a focus on Minas Gerais, the leading exporter of the period. It examines various dimensions of the gold commodity chain, beginning with geophysical factors and the centrality of natural elements – especially water and timber – and their transformation through enslaved human labor. The chapter then analyzes the mechanisms that enabled the global circulation of Brazilian gold and its far-reaching effects, from the intensification of trade in Asia to financial developments in Europe. In sum, it presents an exercise in writing environmental histories of capitalism.