Banks

To one foreign Bank, the Hong kong and Shanghai Bank, a special article has been devoted, because of the important part it has 55 played in commercial and political intercourse, j Others have to be left unnoticed. Native banking is quite ancient, dating at least from the T'ang dynasty, according to Ma Tuan-lin, but, as in the case of other early Chinese institutions, its development has not been continued. Joint-stock concerns have been, at least till lately, quite unknown, and there has been no government control of Banks. Native Banks are of five kinds; besides the Shansi banks, a cla by itself, which came to grief in 1911. These are i, the Official Banks, which deal with the government taxes, etc. The Customs Bank was formerly the chief of these; now the Bank of China and the Bank of Communications have taken its place. They receive the Customs revenue, and Foreign Banks pay government loans, etc., through them. In other busine their scope is very limited, ii, The Hui-p'iao Banks. These are exchange banks, set up by merchants who have busine in different parts of the country, iii. Ordinary Banks doing ordinary banking busine ; these failed in large numbers IMG:p55_1.png:Chinese characters in 1911. iv. Provincial Banks, which are really State Banks for the provinces, though they have shareholders. v. Banks doing regular banking busine on foreign methods but with Chinese capital. At present these are of small account. Edkins: Banking and Prices in China; Wagel: Finance in China, and Currency and Banking; Customs Decennial Reports.