Idaho semi-weekly world. [volume] (Idaho City, Idaho Territory) 1875-1908, 1889-05-21
BANKING IN CHIN.
fg.u, a.. ---- 'tSs
pirs 81" so ms,.aanss Of ths 60.

49,. qua the Proposed ualk
oank, with its s5o,oOo,ooso1 = a,lasriea
would, In n IN aasure. ta ~, 4. y caplal
national ba, k. The cb' "'s Place Il
ever, possess 20, thousands a :, hos,
bar banks. There are 400 ba0.. q !, p'issA
s aou mat banks in Tientsip' = =, rssas
son mas banks nj and pawnsh'n ana cas
hundred. The rates :, 'aOps byAs
n ,as, al and short loans in t,ss, !, Az
reach % per cent. The M. asa' llns
Charge 80 per cent. r raaWnOroker
cent, q mo-, month and the rate. = :, p
are very heavy. China has : anoshsr
currency uo,as w. and each bank issues 'a y
l noles, =. These are much like ou ~ osa
save that they are Chinese ~ pur note,
ana on cheap white paper. Tha s
com OF the country is the ..cas ~ .nl
which 1t takes from 1000 f. a,- 4, q
=; make Stand which coin, small q a,'I !, !
Is counterleited. The cash i - : ~, ~
round coin little larger ,han !. 'ala,
the big American cents - Tau one o.
ago and sometimes no bigger Injury ihss
nickel. 1t has a square bola i y
center and Is usually carris u as
strings OF 100 or 1000 each. = r.'s
bricks and silver nuggets ara n,s u0 y
making large purchases, and ths . ~,
OF weight is the tael, or ounos '' aal
ounce of silver, or a tael 4 ~. oas
about $l.40 Mexican, ana sO'n
denomination is ten-taal nias
which is a chunk Of silver cas-. p'os'
form OF a Chinese shoe. Gold h !. w.
are OF the size Of little cakes Of In ,ts'
Ink, and these, like the silver ava s"s
lect to counterfeit The busi,o.. :,
the treaty ports, which includes H..
OF all foreigners with the Cbiuess s =
done in Mexican dollars. and All
business house has a man calsS.
shrcf, who does nothing else bu, con,,
money and pass upon its genuiues, ''
The Chinese do all their b,s;rs,.
with foreigners on cash basis thonss
the credit system prevails larosIr
among themselves. They are bona.t
in their dealings, and merchants ri,
me that they stick to their bargain,
even II they lose by them. China Ia,
no bankrupt laws. and debtors are
liable to corporal punishment from
their creditors. By not paving thai,
debts they lose caste, and are prae,.
cally drummed out Of business nj.
a disgrace in China not to pay your
debts. and, as rule, the whole oato,
settles up at New Years Day, which
comes in February. The result Is that
China never has a panic, and in The
case of famine or failure Of crops the
Government sometimes loans moneyto
the people.
The biggest Of the Chinese cities
have their stock exchanges, and the
queerest sight | have seen was the sil.
yer exchange in Picking, long, Low
building, lighted from the roof and
filed with from 800 to 1000 round.
headed, pig-tailed, yellow-faced men,
each of whom seemed to be yelling at
the top of his voice and each pushing
his fingers into the face OF his neigh.
Dor. These men were buying and SELL
ing silver dollars, just as our brokers
do in Wall street. and they made more
fuss than all the bulls and bears Of
New York. At eight o'clock the rate
was fixed for the day and the news was
photographed" by means of carrier
pigeons to the various banks Of the.
city. The pigeons OF Peking are large
ly used for messengers, and they
are, perhaps, the only pigeons in the
world that whistle. Ashley Fly through
the air they make whistling sound
which, in the case OF flock, SOUNDS
like whole school OF boys operating
tin whistles at the same time Inns
noise comes from actual whistles
which are tied in their tail feathers "
their owners, and the noise Of when
scares away the hawks from lNen-
1t is IA curious sound, and | heara Ii
MANY times before could find out from
whence it came. They are the tlckes
of the Chinese bankers, and theys"
him all the quotations.
The foreign banks which do business
in China have large capital stocks, aaa
they pay big dividends. The hong
Kong and Shanghai Banking COMPANY, |,
for instance, has a paid-up CAPITA. !"
ST. 500, 900. 1t has surplus OF saV%
600. and its proprietors are llaOe ~
81 500. 900 in addition to the cap''a'
It paws interest on deposits oil sa 4
months at the rate of 4 per cent, anu :
per cent. per annum on daily oal"u sS,.
+ has immense establishments
throughout the East, and us Oana 20
office he Q at Shanghai VIII cOnp sas.
in size and appointments WIN 'n0 T. w. !.
bank of Wall street or Lohuo" -,
the same with number Of o'nei and
banks here in China. Ensll'I h' a' :
French capital manages 'lelA morev
Cinnamon always counts 'ne AO On
and figures up the profits ana iV s"tton,
one of those little boxes OF uu'' n.
strung on wires, when lnaA's a. moi
Chinese calculating anu sf
which all China does its arl'l 1,aie roI
problems. These banks VIII w. =. st
drafts on any part OF the wor, s;o " vi
tiers of exchange and credit wl .;af Il
be good anywhere. Their V nnspss
ficers are among the ieau'ns .aom /
men of the East, and they u" ~. chi
be making money.-Peking WI v
cago Times.
.ho,sands .