MDWine, you ask about books on sharpening and about 'polishing compounds" .
First I'd say Leondard Lee's book "The Complete Guide to Sharpening" might be the book you are looking for, it covers more than just woodcarving tool sharpening.
It's in paperback or hardcover the paperback version is 256 pages, Publisher: Taunton (October 9, 1995) and the ISBN 1561581259.
Now for the numerous compounds out there.
Emory cake (black) really for removal of rust and scale.
Tripoli (brown) for buffing aluminum,copper etc.
White Rouge , buffs up stainless steel , chrome etc.
Red Rouge, For buffing up gold, silver etc.
Now there are many other manufactured compounds such as Lee Valley's green compound that is recommended for sharpening knives etc, same as the Yellowstone compound and the white gold compound each having their own "secret" blend that makes them the "Best".

You will see some people using the white rouge and say it's the best, others swear by the Yellowstone orhers just swear at them all and have their own comcoctions that their grandpappy handed down to them.

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Whatever works for you is the best in my book and I've tried most of them , I'm currentlt using the Yellowstone, mainly as with most of these compounds they never get used up in a hurry.

Leonard Lee's book will explain what many of these compounds consist of and and why one may be better than another.
There a number of other books out there that address carving tool sharpening, so take your pick, you could also pick up Chris Pye's book "Woodcarveing Tools, Materials and Equipment", it covers sharpening as well as anyone, besides it covers much more about tools for woodcarving and is a great reference book to own.

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OG