The Savannah morning news. (Savannah, Ga.) 1900-current, 1900-12-12


pretty soon some OF the cash were worth
moro az metal than as money. ! say
some because the confounded thine'
vary Boz size. Tho ones coined back ia 1871
and 1870. for instance. are nearly eignt
times as big a. those struck OF In 1885.
and. hy making every issue different and
then working the copper market up ana
down. the viceroys have been getting rich
for years on che particular occasion TO
which ] refer all he largest cash were
promptly melted and sold Tor junk
This VIII give YOU some faint idea 81
the beauties OF doing business In China.
tie chief clerk went on. but I haven't
told you Che hurdreth part would say
az "a rough guess. that at least half 81
the cash IN circulation In China arc
count erfeit Until very recently thcy were
cast in m0lds al the mints. instead OF be
lnE struck from dies, and che consequence
was that any cOolie could make "a pas a
bic i'm tation. All he needed was a lump
~ clay Tor taking the impression ana
NOT for melting. and. while his head was
certain 20 De chopped or II he got caught
"a little thing Ike that never dcters "a
native crook During my stay counter
ftiting became 20 rampant that the gov
eminent decided 10 set up modern on"
piants ia couple OF the minis lht
machinery was bought through an Amer
lean drummer. from house in Bfidge
ton. n J. and was unloaded ~ a swamp
on the YanGtea River -Four months aftrf-
ward thc crates were dug out OF the WNh
and taken 10 tho mlrt when they were
opened they were found 10 be tuh q.
enormous river rats, that had conFeii you
them into residences. z-d IN en-" battle
royal that ensued one OF the mint ON
Gals was so badly bitten that he sub
reouently died Of blood poisonins X
tiat wasn't cltaracteriGtlc Chinese
enisode / don't know where you'd ana
one
cor course the machinery was All nor
ridly rusted and the dies were hair eaten
away: but strange 70 say. the mint Dire
tor regarded that a. ar advantage, lie
reporled TO the vlceroy Of his province
that the bad spots on the coins wouli oe
an additional safeguard againet counter
feiting' ! suppose the rats supplied th-
lions for the mint lahorerS 50. altogether
. the transaction was very satisfactory TO
the best OF my knowledge those two pants
/ are sim In operation. Zach OF them mas !"
,-,pacltv for turning ont about 5000 eash
an hour and they are valuable adiunrt-
for Juggling the market. In the fan OF "
. ( one Of tho viccroys ground one several
hoxsheads OF cash running 70 20 the chm
ase ounce Tho country districts were us
ing an old coin running twelve 60 the
ounce end he thereupon ISSUED an eal''
/ calling them an IN and replacing thFfn
with sh.. new variety That was about tho
time che trust was EullinR the marke'
and tha nstute gentleman cleaned up
. snug fortune on copper bullion. or course
/ tha noor country coolies were duch
as the coins Immediately fell In pnrchas-
,nR lower 20 their exnct metal value
was told that an advcnturer from -
Louis engineered this interesting deal for
the vlceroy and got a share Of tho swag
! An American countryman is supposed 10
he an easy victim for bunco games. but
he gets Off easy compared to the Chinese
rustic
"All these things compllcate the most
ordinary business transaction unul TOT
oiruer Is driven 10 the verge Of disirac-
. ton. The Hong Kong and shanghai y nix
ing Company g. the great financial con-
corn % tho nation aud ! am convinced
that IL makes two or three times rs
much money as any bank In the world its
. dividends are 50 large that they are fent
a profound secret. and the figures given
out are admitted to be away under the
facts This hank has branches IN all the
provinces and Is permitted. under gov
eminent franchise 70 circulate bill based
on Mexican dollars Each branch gets out
an issue and one OF the fret things
, discovered when 7 went TO China was
that they demanded discount on all bills
except their own. For example. We had a
remittance of several thousand dollars
from our agent al Shanghai and he sem
a. IN ten-dollar notes Of tho branch NJ
that place. I deposited the money At
Hong Kong. and later on was amazed 20
discover that Ter cent. had been taken
OF the credit for discount could hardly
believe they were IN earnest In such n
monstrous proposition as to discount their
own money. but the cashier Informed me
cooily that such was their rule and told
I me 10 go 10 blazcs when ] kicked.
The intrlcacies OF discount IN China
are something that nobody can keep pace
| with and the premium on gold varies
, like a thermometer In March. The prn-
, | cipal gold brokers IA all tho large cities
, | arc the banks. the Chinese gold guilds
ana the jewellers. and invariably each Of
them offers a different price. Consequent
~ IL Is necessary 10 20 the round IN
ousler TO get the best terms I have started
j. OF; with 800 in American gold and found
- quotations varying nearly so In three u
3 the largest establishments In town That
g was In Hong Kong. bear IN mind where
y cond tions are supposed 20 be reasonably
Z, sioble IT, Tion-Tsin. I dare say. the dlf-
y ference between the highest and lowest
y bids would have been fully 500 Another
!. beauty OF the national system is the
a standard taol. Each bank adopts some
one particular tael as its standard. and
when business transaction involves
p dealings with two or three OF them the
circuiations necessary 10 find out where
l. I YOU are at Mohlu nfANt 1ullaNtlpNli
lawyer 90 the mad house.
'''rho deal Is first figured out To- cash
chen the cash Is translated into whatever
G issue OF tacls has been adopted as stand
:, ard. and the taels are IN turn computed
into Mexican dollars. II you want gold
~ YOU have TO go stlll deeper. and hv the
lime YOU ore through with the different
5 banks YOU begin 10 understand how 81 Is
II that the parent concern can pay such
), stupendous dividends. II Is perfectly use
less to make any protests or demands ex-
q plantations. The native clerk will look al
. YOU hlankly and refer YOU 10 his discount
/. tables made ont ~ Chinese. By the way
e the several branch banks have a pleas
q ing custom Of stamping sheir cipher or
n an Mexican dollars that pass oveT their
r. counters and I have known them 90 re-
20 fuse point blank 70 accept their own coins
e on hour after shey had paid them out
r. The FIRST time that happened 20 me
Is tackled the cashier. who was a typica
y Englishman. and asked him, calmly a.
possible. for tho why and wherefore. Are
J. YOU a Shareholder he inquired. No.
g said !. 4 am only a common everyday
u Deposition Then can't give you any in
formation as 60 the inside workings OF
e the bank said he That was all the sat
p isfaction 7 secured.
a 49,