File:The Chinese (1909) (14579576020).jpg

Identifier: cu31924019519820 (find matches)
Title: The Chinese
Year: 1909 (1900s)
Authors: Thomson, John Stuart
Subjects:
Publisher: Indianapolis, The Bobbs-Merrill company
Contributing Library: Cornell University Library
Digitizing Sponsor: MSN

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ongside of the silver sycee bar. The notes of private banks, called flying money, arein wide use, though the advertisement on the back re-quests circulation only in the guild district or hong street.The bank has to give security to the viceroy for its noteissues. There is little counterfeiting because part of thenote is written by hand and an impression copy is takenfor comparison on presentation. Until 1909, not since1300 A. D., has the government itself issued treasurynotes. Thesig notes have been prepared in America.There was much scandal about abuses when the Mongolsissued paper, one being that the government discountedits own obligations. An old government note of theMings, dated 1368, is on exhibition in New York. Itreads in part: This seal makes this note current any-where under heaven. Counterfeiters will be executed.Persons giving information will be rewarded with twohundred and fifty taels and all the property of the coun-terfeiter. Only China and Persia of the greater coun-
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MODERN COMMERCE AND BUSINESS 307 tries of the world now remain on a silver basis. Gold isnot coined. The dust and virgin nuggets, known as Huang-huo, are washed from alluvial sand in riverbeds in Szechuen. In Kwangsi, the next province westfrom Canton, much business is carried on by the barterof cotton yarn. An early Chinese coin was made ofporcelain, three and one-half inches across by one-fourthinch thick, bearing the legend, Eternal prosperity. As China mines little silver, in times of depression ofimports, bolts of silk, blocks of dried tea, Mongol riding-boots, and even baked earth and wooden disks bearingthe viceroys chop, have been the circulating medium.The early Buddhistic writings frequently mention thelast named money, as the priests did not like to horde it,both from want of room and want of appreciation, whichcriticism of theirs naturally made them unpopular withthe vice-regal inscriber of the chop. When railwaysfacilitate circulation, we shall see another oppressionwiped

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