Banking and Prices in China

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Printed at the Presbyterian Mission Press, 1905 - 286 Seiten
 

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Seite 20 - From 1809 to 1849 it rose again in the extraordinary ratio of 100 to 245, or by 145 per cent., rendering government annuities and all fixed payments, extending over this period, almost two and a half times as valuable as they were in 1809.
Seite 20 - But there is abundance of evidence to prove that the value of gold has undergone extensive changes. Between 1789 and 1809, it fell in the ratio of 100 to 54, or by 46 per cent...
Seite 17 - OF THE AVERAGE AMOUNT OF BANK NOTES IN CIRCULATION AND OF SPECIE IN RESERVE IN HONGKONG, DURING THE MONTH ENDED...
Seite 21 - We are forced to admit that the statesmen of Queen Elizabeth were far-seeing when they passed the Act which obliged the colleges of Oxford, Cambridge, and Eton, to lease their lands for corn rents. The result has been to make those colleges far richer than they would otherwise have been, the rents and endowments expressed in money having sunk to a fraction of their ancient value.
Seite 45 - April 30 the Chancellor of the Exchequer stated in the House of Commons that the Government had decided to accept in substance, -but with certain variations, the recommendations of the Select Committee on Members' Salaries and Expenses (vide, p.
Seite 53 - ... 100,000 cash ; and about AD 1183, during the reign of ^^ Hiao-tsung, the second Emperor of the Southern Sung, China for the first, and (until a few years ago) last and only time, minted silver coins. "There were five kinds, weighing one. two, three, five and ten taels respectively, each tael passing for 2,000 cash. They could be used as official and commercial currency, and served equally as metallic reserve for the paper notes. Singularly enough, this silver coinage only lasted three years....
Seite 10 - The use of bills of exchange is as old as the art of printing, and the needs of a great empire led to the riches of the trading class. Italian merchants learned in China the art of book-keeping as combined with banking and printing.
Seite 48 - Ou this ground paper currency was found highly useful. The expense of the imperial cortege was great. Copper cash were scarce in the markets and shops. Paper currency was welcomed by the people and of great assistance in these circumstances. The President of the Board of Revenue, Chang Heng, said the upper capital in Manchuria is distant from Kai-feng-fu 4,000 li. Copper cash, if sent, would lose two-thirds on the way. This would diminish the revenue and lay a heavy burden on the people.
Seite 75 - Hientsung (AD 806-821) on account of the scarcity of cash, issued an edict prohibiting the manufacture of copper utensils, such as basins and kettles ; and, to provide for the monetary stringency, opened offices at the capital at which merchants could deposit their coin, receiving in exchange government notes, called

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