The Cincinnati daily star. [volume] ([Cincinnati, Ohio]) 1875-1880, 1878-01-24

From the first, the Chinese held a very
correct notion with regard to money. They
recognized it simply az IN instrument to
further exchange, and not az being in itself
wealth Money" says one writer, is an
object that in time of famine cannot feed
us, in time of cold cannot clothe us, but,
coming to the service of all occupations, all
sorts of precious things may be secured by
it." The vicissitudes through which the
currency in China has passed have beenfre-
quent and violent. The ease with which
money is produced tsmpted various sover-
eigns in times of national difficulty to coin
enormous quantities TO meet their imme-
diato wants, and SO common have been the
materials employed, and so rude the technl
cal execution, that coiners have found no
difficulty in counterfeiting the Imperial
cash At the present day the ,iade of coin
ing false money is large and fourlshln3
one, and only within the last few weeks a
vessel was captured on the Yang-tze-Kiang
carrying full cargo of false money. The
principal objection to the copper cash as
medium of exchange has always been its
cumbrousness, and thus at an early period
arose demand for a more convenient
equivalent. To some extent silver supplied
this want, but the introduction of a paper
currency proved still greater benefit ia
the travelling merchant Historians tell us
that bank notes first appeared during the
Tang Dynasty, CA. D. 622-897), but with
the advent of troublous times they ceased tc
circulate, and it was not until the Sung
DYNASTY CA. d. 95O-12SD, reigned supreme
that they were Systematically issued and re
cognized. As in all countries subject tt
revolutionary outbreaks, the paper cur
rency in China has been subject to extreme
fluctuations, and the means adopted by the
Government to maintain its nominal value
in times of depression have been as unwis'
and unavailing as any employed in Euro
pean countries under similar circumstances
At one time, when paper money had be
come largely deprecated in consequence o
overssue, the Government, in order to kee1
it in circulation, ordered that all payment
should be made partly in notes, which wer
to have the same value as metallic money
1t is needless to say that this regulatio
failed in its effect, and almost immedlatel.
afterward we find that notes of the nomina
value of 200 cash were worth in the mai
ket only 10 cash. In addition to the over
issue of notes, which has always been tn
chief cause of their deprec iation, the az
pearance from time to time of large quan
titles of false notes has added to the popula
mistrust in them. 1t is curious to motto
the similarity between the terms of the per
atty to be inflicted on forgers of Chimes
paper money with those employed by West
ern Governments on the first appearance c
: forged notes in Europe and America. .
the notes issued during the Ming Dynast
CA. D. 13G5-1643) was the Inscription
l "Whoeyer fabricates or uses forged note
shall be beheaded and he who inform
against the forger, or arrests him. shall It
= ceive reward of 25O ounces of silver.
: The Assignats of the French Republic boz
an almost identical legend, 4" La lot pru
de mort lie contrefacteur, la nation recompen
:, le depeonciateur;" and on the American not
= issued during the War of Independence W
L inscribed the short and emphatic phrae
y ''To counterfeit is death. The Aheneu
d