Northern Wisconsin advertiser. [volume] (Wabeno, Wis.) 1898-1925, 1900-09-20


decimal system OF coinage, similar to
that adopted by the United States;
but as soon as true value and standard
weights are considered the mystery of
the celestial monetary system appears
in all its complicacy. The currency is
based on silver and copper cash the
former at its intrinsic value and the
latter approximately so. While the
copper cash, small, base coin, Is the
one most commonly used in China,
silver Is the basis of exchange.
Fluctuations in the rate of silver ex-
change, together with the total lack
OF uniformity in coinage, as well as
the absence of a government bank, or
public bureau of finance, says the
Los Angeles Times, all combine to
form the confusing elements involving
the subject of Chinese currency and
finance. The Chinese Empire possess
ed a system of coinage at the begin
ming Of the Christian era. Many of
their most ancient coins were cast in
curious and quaint designs, some fash
wedges, oblongs and other objects,
nameless and apparently meaningless.
These rare old specimens are occa-
sionlly met with in influential Chinese
families, where they are treasured as
amulets against evil spirits.
Base and not precious metal has
been the principal medium of exchange
in the Chinese empire. About the
ninth century this imperial govern
ment issued a paper money; so we
find the Chinese Justly deserve the
credit of the invention and priority
in use OF paper money, along with the
hundreds of other useful and necessary
inventions that the world owes to
them. The use OF paper money was
continued at intervals down 70 the
fifteenth century, when 1t disappeared
from use. However, promissory notes
have been in constant use. and have
kept the Chinese familiar with paper
currency that made It practicable Tor
the government to sanction banks to
be opened for the circulation of a
paper currency. The banks of to-day
are private institutions, where each
man or company is allowed to issue
his or their own paper bills in ex-
change for cash and silver, the bank
bills being redeemable on sight
While these banks are numerous in
all large cities, there is no established
government bank, and this forms one
g.ft NA t.,.ss. H.. t....t
ness status Of this strange empire, one
of the first in the banking world and
yet one OF the last to have bank.
rhe monetary system of China at
the present day is arranged on the
principal Of weight. the foundation or
standard being the tael. This weight
is divided into decimal divisions called
mace, candareen and cash, or tsien.
fan and It.
The tael being the recognized stand
ard of value throughout the kingdom
for the reckoning of bullion. gems,
drugs, etc, one would think that the
weight would be uniform; but such
is not the case. The customs. or haik-
wan, tael Is the commercial standard.
and Is an imaginary weight in silver
of about | ID ounces, or equal to about
~ cents gold in American money.
However, this fiuctuates almost daily
with, the price of silver. Besides the
halkwan tael there are various others
in use; the most notable are the ku-
ping or treasury tael, the kuaiping or
Shanghai. and the Hankow tael The
latter is per cent in value above the
Shanghai, while there is 10 per cent
difference between the other three.
This variation in weight of the ac-
cepted standard OF value destroys all
business foundation and accuracy
There are five different weights in
currencies in circulation in the short
distance between Picking and rien-tsin,
only about eighty miles. The railway
fare from Peking rien-tsin last year
was S1.i0; but from Tien-tsin to Pc
king 1t was $3.50. Such ridiculous dis
crepancies in currency are harmful
hindrance to trade.
There are no less than nine different
silver dollars current in China. Ave of
which are minted in the country. The
one most extensively used is the Mex
lean scale dollar. minted in Mexico.
Next to this is the Japanese yen, then
the Spanish Carolus dollar and then
the French republican dollar, Others
find their way there, but are not so
extensively used as those mentioned.
There are government minis for the
Chinese silver dollar at Tien-tsm ar
senal at Kiangnan, in Kwang-tung
Pryince, in Hupeh and Anhui provin-
ces. Other small silver coins are min
ted at some OF these minis. and also
in the Fookien Province.
There are scent. l0-cent. 25-cent
and 50-cent pieces. A kwang-tung |
silver silver coin is graceful and ex-
,eedingly pretty. A coiled dragon
occupies the center OF the diverse
tide. with the word "Kwang-tung Pro-
,ince. / mace "a candareens" around
he margin, while the reverse has the
name, the province and a.
nSunt, in Chinese characters. This
,iece of money corresponds to our 20