The Delta independent., 1889-04-30
and In the evening
balanced. The next Of
the various banks GET are
lnterchanRed, and the qua te va
rfnul danOa atfnrs surAred. = .I.. buplro

ooA0ASOus 4u6 ueXt O1
the various banks GET are
tnterchanRed, and the ,vuS ie va
siou. .3sgp S3ep0sitSgs are squared ,s. banks
the right to draw OH his bank Tor loans equal
to double the amount Of his average deposit.
The disgrace of dishonored debt is such
that business man failing viii! hardly at
province, and dutiful sons often pay their
fathers debts. This is not SO in Korea, and
while was visiting Chemulpo Mr.. Town
send, the American merchant there, was
approached by the protiigate son Of Q Ko-
rean nobleman. The son wanted Mr.. Town
send to accept papers from him stating that
Mr.. Townsend had sold him goods 10 tho
amount Of 5000. "Then," said he .'you
can take these papers to the old man and tell
him you can not collect the money and arc
going to have me whipped. He is fond of
me and will pay rather than stand the dis
grace, aid we will divide the proceeds"
Mr.. Townsend, of course, refused and sent
the young man about his business.
The honesty of the Chinese in their
business dealings is shown in the actions of
Hou Qua, the Canton millionaire, who died
rev years ago, leaving at least Slo0, ,000, 000
One Of the Chinese firms of Canton had
failed, owing great sum to foreigners.
Hou Qua got up subscription and paid the
whole Indebtedness. He headed the list of
subscribers with 81 100000 out of his own
pocket, saving that "Chinesc credit must
man who when the English were about to
lombard Canton unless their demand Of
$4,000, 900 was paid within forty eight hours
headed the subscription list with the sum OF
81, 100000. II give" said he $500, 900 as a
thank Offering for the business prosperity
have had. give Sl00,000 as testimony of
the fidelity of my son, and S200,000 as n
mark Of the affection which bear my wife,
This Hou Qua, though dead, is still greatly
honored in Canton. His gardens there are
among the sights of the city and his name
is synonomous with business honor
The average OF wealth in China, however,
are interested in keebing the amounts OF
their property secret The officials are
so corrupt that they can SO easily squeeze
money out of their rich subjects that the
them, and if China had Jay Gould the Of
ficials, from the emperor to the madarins,
would be continually poking their fingers
into his money-chests. Much of Ii Hung
Chang's fortune of s12, ,000, 600 is said to havo
been acquired by bribcs and squeezcs and
the story is told at Shanghai of how one of
his underlings attempted to send him $780,
600 not long ago IN wine bottles, or rather
wine baskets for much of the wine of China
is carried in water-tight baskets. This sup
posed wine had to go through the hands of
very rigid native customs officer, who,
suspecting something, opened the basket
"Ah,' said he. that wine is too fine
for the viceroy. 1t is only fit for the en-
peror."
He thereupon confiscated it and made q
present OF the amount to the government at
Peking: l don't think he mentioned Lii
Hung Chang's name, and inasmuch as the
not object
A few Of the rich men among the Chinese
are Christians and visited one Of the most
noted of such at Foo Chow the other day.
Have you ever heard of Foo Chow,
No.
Well, 1t is a city bigger than Chicago and
1t is one Of the chief tea ccnters of China.
1t lies in the mountains about 400 miles
south of hero and it is what is called the
Switzerland of China. 1t has bridge of
solid granite running across the river
which flows by tho city, 1,2oO feet long and
containing fifty arches 1t is called the
bridge Of ten thousand ages. It's pathway
is twelve feet wide. 1t is more than 900
years old and it is as solid to-day as tho
granite of which it is built. The city has a
wall six miles in circumference, and its
wholesale fish market is equaled by no
place, not even Billingsgate in Lon
don. This rich man of Foo Chow is
known m as An Hok, and he gave, $1,000
teach Chinese boys the science and culture
of Christendom. He is Christian himself.
and Just before arrived in Foo Chow our
Bishop Fowler OF the Methodist church
united his son with Chinese maiden. The
ceremony was the Christian ceremony
adapted to the Chinese and the bishoo tells
me that he had great trouble in getting the
young lady to say she would take this young
man to be her welded husband. 1t is Chi
nese etiquette that the bride keep perfectly
silent on such an occasion and the coy dam
sci would not open her lips. The bishop re-
fused to go on with the ceremony and the
young lady finally compromised the matter
by nodding her head. at was not embar-
rassment," said the bishop to me, s.tnat
made tho girl tongue tied, for felt OF her
md NNynu ,sr&
or mine. Had she been troubled it would
have been cold and clammy. She thought
1t would be improper to answer and she re-
fused to do son As evidence Of the gcnu-
since destroyed his idols, and he gave here
the gold crown which covered the head of
one OF them as present to Mrs. Fowler. He
is a bright merchant and n good business
man, and his home is one of the most com
Portable in China.
Returning to banks, China is one of tho
Oldest banking nations of tho world. The
people had banks of deposit and discount
laws Of China date back 200 years before
the discovery OF America. In 800 b. G. the
government issued paper money and thero
is now in Peking paper money in circula-
tion issued by private banks of as low de-
nomination as 10 cents Inc Cn,nese
money-changer may be found on every
street corner and his shops arc in nearly
every block. He charges good rates and
HDOu "A great zeal JDO
money lending in China is done on some
what the same plan as our building associa.
tions. 1t is more often IN companies of ten
who club together and agree to put 80 much
into common fund, which shall be loaned
in the first instance to the man getting up
tho company. At the end of tho second
year or six months or month, as It may be-
another contribution is levied, and this goes
to the second man and 80 on until each has
had the use Of an equal amount of
money, and the whole matter is
80 graduated that each member of tho
club is fairly treated as to interest and
capital. China is full Of these small associ-
atoms and there is no country In tho world
where the art OF organization has been car
ried to such an extent by tAe different
branches Of capital and labor as here. Even
the beggars have their organizations and
the bankers their trades unions, which reg
ulate how all the banks COZ ccted with them
shall do business. The Shanghai bankers'
guild fixes tho charges of fifty-hvc OF tho
banks of Shanghai. Its rules lie before mo
and sec that the minutest particulars OF
business are given. The various kinds OF
silver dollars to be taken are mentioned and
checks for less than SO are not receivable.
Each banker has TO send his book to tho
clearing house twice a day and the manager
for the month has the supervision of them.
Other rules more or less strict prevail
among the banking associations of pekin
and Canton, and most of the difficulties of
lender or borrower are settled here rather
than in the cou-ts.-F'rank G.. Carpenter, in
Chicago Times.