Jump to ContentJump to Main Navigation
Shanghai's Bund and BeyondBritish Banks, Banknote Issuance, and Monetary Policy in China, 1842-1937$
Users without a subscription are not able to see the full content.

Niv Horesh

Print publication date: 2009

Print ISBN-13: 9780300143560

Published to Yale Scholarship Online: October 2013

DOI: 10.12987/yale/9780300143560.001.0001

Show Summary Details
Page of

PRINTED FROM YALE SCHOLARSHIP ONLINE (www.yale.universitypressscholarship.com). (c) Copyright Yale University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in YSO for personal use.date: 23 June 2021

HSBC and Its Note Issue in Shanghai, 1866–1925

HSBC and Its Note Issue in Shanghai, 1866–1925

Chapter:
(p.73) Chapter 4 HSBC and Its Note Issue in Shanghai, 1866–1925
Source:
Shanghai's Bund and Beyond
Author(s):

Niv Horesh

Publisher:
Yale University Press
DOI:10.12987/yale/9780300143560.003.0004

This chapter discusses the different aspects of the Hong Kong and Shanghai Banking Cooperation (HSBC) and its note issue in Shanghai. Banknotes first issued by the HSBC in 1866 helped resuscitate financial markets during the late Imperial era and the demand for these banknotes shot up amid the political and economic disintegration that typified warlordism in the early Republican period. The fiduciary principles in the HSBC Ordinance were partly inspired by nineteenth-century Scottish banking practices, whereby private banks enjoyed lucrative note-issue prerogatives. The surging popularity of quasi-foreign notes in China coincided with the phase-out of HSBC's Southeast Asian issue in the 1910s. The Banks' argumentation had to be adapted to suit the tastes of Treasury regulators, whose main concern, during that period, was the money supply in colonial Hong Kong.

Keywords:   China, HSBC, banknote, financial markets, finance

Yale Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us.