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Free Books / Finance / Chinese Currency And Banking / | ![]() |
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First Proposals |
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This section is from the book "Chinese Currency And Banking", by Srinivas R. Wagel. Also available from Amazon: Chinese currency and banking.
The suggestions made at that time were just like others made at other periods; they were in the nature of broad generalizations, and proposals were neither consistent with the existing state of affairs nor practicable. Hu Chu-fen, then Mayor of Peking, suggested in 1895 the introduction of a uniform coinage in three metals, gold, silver and copper, and the establishment of a bank of issue under the control of the Board of Revenue, which was to have branch banks in the provinces. The censor named Wang Pen-yuan proposed the immediate coinage of silver to relieve the market stringency caused by the scarcity of copper cash in about 1895.* The question of establishing the central mint came to naught, the only result of the proposal being the establishment of several provincial mints. There were numerous proposals of this kind -none of which revealed a thorough under-standing of the subject.
 
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chinese currency, banking, finance, money, banking in china, standard of value, currency, silver standard, banking reform, district banks, new coinage, foreign exchange, reserves, native banks, native orders
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