The book provides a comprehensive descriptive history of the founding of the Saltire Society in 1936, a Scottish cultural organization dedicated to promoting 'all that's best in Scottish culture', and its series of literary awards which now includes prizes for fiction, first books, history books, non-fiction, poetry and research books. The book accomplishes this by including a detailed descriptive history of the founding of the Saltire Society and its literary awards and original analyses of the impact the award has made within the UK's literary economy and publishing culture, forming a unique perspective of research in practice enabled by access to archives, interviews and observations that are unique. This cultural history of the Saltire Society Literary Awards demonstrates the significance the awards have had within Scottish literary and cultural life. It is one piece of the wider cultural award puzzle and illustrates how, far from being parochial or niche, lesser-known awards, whose histories may be yet untold, play their own role in the circulation of cultural value through the consecration of literary value. The study of the Society's Book of the Year and First Book of the Year Awards not only highlights how important connections between literary awards and national culture and identity are within prize culture and how literary awards, and their founding institutions, can be products of the socio-political and cultural milieu in which they form,; but this study also illustrates how existing literary award scholarship has only begun to scratch the surface of the complexities of the phenomenon. This book promotes a new approach to considering literary prizes, proposing that the concept of the literary awards hierarchy can contribute to emerging and developing discourses pertaining to literary, and indeed cultural, prizes more broadly.