The ability to tap South African gold was regarded as vital for the restoration of sterling as an international currency after World War Two. Economic relations between Britain and the Union were dominated by the extreme volatility of capital movements within the sterling area.

The importance of the UK's economic relationship with Canada after the Second World War has not been adequately reflected in British historiography. Canada's vital importance in the provision of financial assistance and of foodstuffs and raw materials was reflected in the intensity of bilateral...