Bank demand deposit
Banks support the business activities of enterprises and banks through deposits. Taking the two-year Xianfeng period (1852) of Rishengchang Bank Qingjiangpu Sub-branch as an example, loans were made to firms:
Yufeng Bank 500 pays 7% interest every two months.
Fengxing Dianyin paid 7% interest for two years in 2000.
Yutai Dianyin 1000 Monthly Interest Rate 6%
Dexintang Bank paid 8% interest in February 2000.
The relationship between banks in Shanxi is a kind of commercial exchange, and the main thing between banks is currency exchange. At first, banks had weak capital and had to borrow money from them. Banks are willing to support banks to accommodate public funds from all over the country; Backed by the bank number, bankers can obtain private credit and facilitate business. Banks and banks are different in nature, organization and business scope and can complement each other. The nature of the bank is exchange, and the bank number is exchange; The business scope of the bank is limited to the local area, and there are no branches in other places, and the ticket numbers are distributed in major commercial ports across the country; Bank deposits are mainly government-run funds, and loans are only lent to banks, officials and well-off businesses, while bank deposits are aimed at ordinary businessmen; Bank discount, exchange, gold and silver trading, draft, etc. , and the ticket numbers are not all; The bank gives it to officials and issues paper money. Money pays attention to social credit and does not issue paper money. This is where there is both division and connection between banks. Banks concentrate on dealing with exchanges in different places and gradually cede local business to banks. In some places, the total number of banks is separated and the surrounding well-off banks are entrusted as agents.
provide a loan
By the late 1980s from 65438 to 2009, Shanxi Bank had not only issued commercial loans to private banks, but also started to issue loans to modern industry and commerce. Although the number is small, it is undoubtedly positive. In the 13th year of Guangxu (1887), the Chinese railway company with Li Hongzhang as its background turned to Shanxi Bank for help to build the Jingu Railway. At the beginning of the 20th century, Shanxi banks made great contributions to the struggle of Guangfu Road Mine in China. For example, in the process of setting up a mining company in Shanxi to redeem the mining right in Shanxi from the British rich company, Shanxi Bank paid10.5 million yuan of silver for redemption, and was the major shareholder of the mining company. During the construction of Tongpu Railway, which runs through Shanxi Province, a loan of 572,000 yuan was obtained from Shanxi Bank, accounting for 70% of the total loan of 722,000 yuan. Chuanhan Railway shares are 365,438 438+ 10/02,000, of which 65,438+0,060,000 is deposited by Shanxi Sanjinyuan, Xie Tongqing, Tianchengheng, Hou Weichang, Weifuhou and Xintaihou Bank, indicating that there is a financing relationship between Shanxi Bank and commercial railways. Shanxi draft bank also represents modern enterprises to receive shares and issue shares. In the 30th year of Guangxu (1904), Dadetong Bank issued shares for Henan Junyao Magnetic Industry Company in Kaifeng, Shanghai, Hankou and Beijing. In the thirty-second year of Guangxu (1906), Rishengchang and other banks used to purchase and store shares for Henan Guangyi Spinning Company.
Remit to Bank of Beijing
During the Xianfeng period, the Taiping Army and the Qing Army entered the decisive battle stage. In eight years (1858), the Taiping Army broke camp in the north of the Yangtze River, and in ten years (1860), it broke camp in the south of the Yangtze River and occupied Suzhou. The two armies fought fiercely in Hubei, Jiangxi, Anhui and Zhejiang, and the Nian Army was active in Jiangsu, Anhui, Hubei, Hunan, Shandong, Shanxi and Hebei provinces. In this case, the provincial customs can no longer send it to Beijing for reimbursement according to the old practice. For example, in the eleventh year of Xianfeng (186 1), the provinces should have delivered 7 million taels to Jingxiang, but actually only delivered 1 20,000 taels. As a last resort, the Qing government made a memorial to the quasi-household department in December of the first year of Tongzhi (1862), and asked the provincial governors to try to exchange the money from Beijing. In the second year of Tongzhi (1863), Hunan handed over 52,000 yuan of Beijing's reimbursement to the Wei Empress Dowager and the Xin Empress Dowager, which were set up by Shanxi businessmen in the provincial capital, for exchange. That year, the 42,000 silver project in Sichuan was given to Yuan Feng, a Shanxi businessman, for nine votes in exchange for "rampant bandits in Shaanxi". In June of that year, Hubei Province raised 32,000 yuan from Jianghan Customs to collect foreign taxes. "Because Zhili Road is impassable, it is still paid by the Empress Dowager Han Zhen Wei". In August of that year, the taxes and tariffs on Xiaoding, salt and soil were more than 100,000 yuan. , was "respectively into Han Zhen Wei Empress Dowager, Yuanfeng Liquor and other banks". In the fourth year of Tongzhi (1865), the railway bureaus raised 42,000 yuan in salt, 0.2 million yuan in salt tax, 0.2 million yuan in silver, and 62,000 yuan in * * silver, which were allocated in the second year of Tongzhi. "The committee members replaced all the silver mentioned in the previous paragraph with Xie Tongqing, Wei Feng, Yuan Fengjiu and Tian Chengheng. (Historical materials of Shanxi draft bank, Shanxi People's Publishing House, 1990 edition) In the fifth year of Tongzhi (1866), Zhejiang handed over 32,000 pieces of silver to Zhejiang Customs for remittance by Shanxi draft bank Yuan. In the 26th year of Guangxu (1900), the Western Empress Dowager fled with Emperor Guangxu to the west of Shanxi and stayed at Dadetong Bank in Qixian County, which lent the Qing court 402,000 yuan. Because of the rugged road, most of the banks of western businessmen were in Shanxi Province, so the Qing court ordered the provinces to change the salary in Beijing to the total number of banks in Shanxi Province. For example, Governor Yu Liansan of Hunan raised 1 12000 yuan and transferred it to nine banks in Shanxi Rishengchang, Tianchengheng, Baichuantong, Xintai Hou, Weifuhua, Weishengchang, Xietongqing and Ganchengheng, and remitted it to Pingyao, Shanxi. In the 27th year of Guangxu (190 1), Jiangxi borrowed 3,300 taels of silver from Shanxi Bank Wei Changhou and Xintai Houhui and remitted them to Jianghai Guandao Yamen. The following is the statistical data of Shanxi banks' exchange for Beijing, Hunan and silver from the first year of Tongzhi (1862) to the nineteenth year of Guangxu (1893): (Historical materials of Shanxi banks, Shanxi People's Publishing House, 1990)
The first year of Tongzhi (1862) was 65438+ 2 million.
Tongzhi h year (1863) 1392000.
Tongzhi for three years (1864) 562,000.
Tongzhi for four years (1865) 1282000.
Ticket number sheet
Tongzhi five years (1866) 2.352 million.
Tongzhi for six years (1867)4 132000.
Tongzhi eight years (1869) 2.77 million.
Tongzhi nine years (1870) 372,000.
Ten years of tongzhi (1871)152000.
Tongzhi eleven years (1872) 2.832 million.
Twelve years of tongzhi (1873) 1.552 million.
Thirteen years of Tongzhi (1874)65438+ 2 million.
The first year of Guangxu (1875) was 4.53 million yuan.
Guangxu two years (1876) 3.84 million.
Guangxu three years (1877) 2.332 million.
Guangxu four years (1878) 22,000
Guangxu five years (1879)1790,000.
Guangxu six years (1880) 2.96 million.
Guangxu seven years (1881) 2.4 million.
Guangxu eight years (1882)14.32 million.
Guangxu 9th year (1883)22 12000.
Guangxu ten years (1884) 242,000.
Guangxu eleven years (1885), 2.83 million yuan.
Guangxu ten years (1886) 2.8 million yuan.
Guangxu 13th year (1887)65438+ 2 million.
Guangxu 14th year (1888) 12000.
Guangxu 15th year (1889) 1.52 million.
Guangxu sixteen years (1890) 3.29 million.
Guangxu seventeen years (189 1), 2.9 million yuan.
In the 18th year of Guangxu (1892), 3132,000 yuan.
Guangxu 19th year (1893), 2.66 million yuan.
In the above 3 1 year, the exchange rate of Beijing's banks was 58.6 million taels, with an average of 1.89 million taels per year.
Remittance of coastal defense funds
At the same time, the Westernization Movement launched by the Westernization School of the Qing government was in full swing, planning coastal defense and purchasing warships. The coastal defense funds mostly depend on the aid of provinces and are remitted by Shanxi draft bank. In the first year of Guangxu (1875), Jiangxi proposed 52,000 yuan as coastal defense funds under Lijin, and handed it over to Qian Jisheng and Sanjinyuan Bank in Nanchang for remittance to Tianjin. In three years (1877), it was transferred from Lijin 12000 yuan to Sanjinyuan Bank for remittance to Beiyang, and 12000 yuan was remitted to Xintai Houhang for remittance to Fujian. In the 14th year of Guangxu (1888), General Fuzhou raised120,000 taels of silver from foreign medicine Lijin, handed it over to Xintaihou, a ticket dealer in Shanxi, and sent it to the naval yamen for acceptance. In the 19th year of Guangxu (1893), the governor of Fujian and Zhejiang levied a local drug tax of 6,439 taels of silver, which was remitted to the naval yamen by Wei Changhou, a Shanxi ticket dealer. In the 12th year of Guangxu (1886), Sichuan handed over 65,438+12,000 silver to nine banks, including Baichuantong and Rishengchang, and remitted it to the naval yamen for settlement. In the 18th year of Guangxu (1892), Hunan collected disaster relief funds 19802 and gave them to Xie Tongqing, the Shanxi draft bank, as an equal sign to take over the command of the naval yamen. In the first year of Guangxu (1875), Jiangxi Jisheng and Sanjinyuan Bank each paid 25,200 silver to Li Hongzhang, Minister of Coastal Defence and Zhili in Beiyang, Tianjin. In the third year of Guangxu (1877), he remitted 12,000 silver from Lijin to Sanjinyuan to Li Hongzhang, the minister of Beiyang Zhili in Tianjin, and 12,000 silver from Xintai to Chen Fu yamen in Fujian. In the 15th year of Guangxu (1889), Guangdong borrowed 52,000 yuan from Shanxi draft bank Baichuantong, and wired it to Beiyang Minister Yamen.
Exchange railway funds
Railway construction during Guangxu period was an important part of Westernization Movement. The Qing court was wary of Russia's construction of the Far East Railway, so it decided to build the Kanto Railway, and stipulated that the provinces should allocate 52,000 yuan each year, and 16 provinces * * * 802,000 yuan for railway construction. In the 16th year of Guangxu (1890), Li, the governor of Guangdong and Guangxi, remitted 52,000 yuan of railway money to the Shanxi banks, namely, Baichuantong, Rishengchang, Weitaihou, Weishengchang and Xintaihou to Beijing. In the 16th year of Guangxu (1890), Sichuan handed over 52,000 pieces of silver to Rishengchang and other exchange companies on the 9th. In the 18th year of Guangxu (1892), Hunan Jiaoxie celebrated 22000, Baichuantong 15000, and Empress Wei 15000 remitted to the yamen of Zhili Governor. At that time, Huguang asked for 32,000 yuan for the Kanto Railway, and sent it to the Shanxi draft bank, Baichuan Tonghui and Beiyang Minister. There are also railway funds to be paid by Anhui. Generally speaking, during the 16th to 19th years of Guangxu (1890-1893), the railway exchange funds of Shanxi Bank were more than 202,000 yuan.
Remittance and reimbursement
After Beijing reimbursement is remitted by Shanxi draft bank, reimbursement is also remitted by Shanxi draft bank. For example, in the fourth year of Emperor (1865), Hedong Road in Shanxi should pay 82,000 yuan in Lanzhou, Gansu for three times, all of which were remitted by Pingyao ticket merchants in Shanxi. In the same year, he was given an reimbursement of 22,000 yuan, which was handed over to the Shanxi draft bank Yuanfeng Jiuhui to Shaanxi Fanku. In the fourth year of Tongzhi (1865), Sichuan allocated 22,000 yuan to send money to Shaanxi. In the 17th year of Guangxu (189 1), Zhejiang Jiaotian was sent to Yin Wu and remitted to Guangxi Fanku. In the 16th year of Guangxu (1890), Huguang remitted1.2000 yuan to Guangdong. In the fourth year of Guangxu (1878), Changhou, Jiangxi Communications Commission, allocated1.2000 yuan for Yili. In six years (1880), Jiangxi paid the paddock thickness silver 12000 yuan to Baotou Bureau for transfer. During the Guangxu period, Guangdong Customs handed over 96 15 Liang of Xie Xiang in Urumqi and Xiecheng, and during the Guangxu period (1879), Guangdong Jiaoyuanfeng 91.20,000 Liang remitted Guisui Road in Shanxi to Wuli Yatai. In the same year, Guangdong Jiaozhi Chengxin Bank. 12500 remitted to tuya Gate of Chahar, and transferred to Cobdo. In the 12th year of Guangxu (1886), Jiangxi paid the annual salary of Fengtian Xu Bing1.2000 yuan to Wei Changhou and remitted it to the yamen of Shengjing Household Department. In the 19th year of Guangxu (1893), Jiangxi paid 15000 yuan to the capital. According to incomplete statistics, from the first year of Guangxu to the nineteenth year (1875- 1893), the exchange of Shanxi draft bank * * * was10.23 million, with an average of 542,000 yuan per year.
Remittance of river project funds
In the Qing Dynasty, the amount of funds for river engineering was large, and Shanxi draft bank was responsible for the exchange, which benefited Shanxi draft bank a lot. For example, in the twelfth year of Zhengzheng (1873), the Guangdong river project cost10.2 million yuan, which was paid by the Shanxi draft bank. In the 13th year of Guangxu (1887), Guangdong and Guangxi remitted 2 19000 taels of silver for three times, handed it over to Shanxi draft bank, Zhi and Xie Chenggan for remittance, and sent it to Tianjin Branch for transfer to Henan River project.
relief payment
In the 18th year of Guangxu (1892), there was a drought in Shanxi, and Jiangsu raised 1.2 million yuan to remit it to the governor's office in Shanxi for relief. In the 12th year of Guangxu (1886), Zhili was flooded, and Guangdong dispatched 22209 from Baichuan to Tianjin, with a first-hand Shanxi ticket number, and transported it to the disaster area. In the 11th year of Guangxu (1885), Shandong suffered from famine, and it was sent from Shanghai to Shandong at No.5000 after Xintai in Shanxi and No.3000 after Yuanfeng Jiupiao.
Borrowing teaching
As early as 19 in the 1940s, local financial institutions in Guangdong had a loan relationship with Shanxi Bank. "Since 20 years of Daoguang's westernization (1842), ... Francisco and Ku have been in short supply ... and borrowed from western merchants", but this kind of loan is "revolving loan and revolving return, which has no record". (A study on warehousing in eastern Guangdong and feudal areas (Volume 12) is quoted from Zhang Guohui's1A Historical Study on Banking Development in China in the Second Half of the 9th Century (Phase II) 1985). In the 1950s, due to the peasant army uprising of the Taiping Heavenly Kingdom, Guangdong's finance was in a very embarrassing situation, so it was allocated to Beijing to borrow money from banks. For example, in the third year of Zhizheng (1864), Guangdong Customs borrowed 52,000 taels of silver from Shanxi Xiechenggan, and more than 50,000 taels from Zhixin, in order to promote repayment by tax. In the 30th year of Guangxu (1904), Cen Chunxuan, the governor of Guangdong and Guangxi, wrote that he had paid the bank 228 135 Liang in advance and had borrowed Shanxi ticket merchants to remit it to Beijing by Zhi and Xie Chenggan. During the Tongzhi period, Governor Zuo Xi of Shaanxi and Gansu levied a salary increase, and Guangdong raised 62,000 yuan under the Lijin Project and borrowed 62,000 yuan from Shanxi ticket merchants. In the third year of Guangxu (1877), Guangdong issued the fourth batch of Beijing stipends, and borrowed 166000 taels from Shanxi ticket sellers Zhi, Xie Chenggan, Qian Jisheng and Yuan. In the fifth year of Guangxu (1879), Guangdong will send the third batch of salaries to Beijing and borrow 242,000 yuan from Shanxi ticket merchants Zhi, Xie Chenggan and Yuan. In the 29th year of Guangxu (1903), there was a famine in all divisions and brigades in Guangxi, and there was an urgent need for military pay. However, Guangxi's national treasury is as empty as water, and Guangdong's financing is limited, and it borrowed120,000 yuan from Shanxi ticket merchants for emergency. In the 18th year of Guangxu (1892), Guangdong borrowed 22,000 yuan from Rishengchang, Weitaihou, Hou Weichang and Xintaihou Bank, and remitted it to Beijing as the second batch of Taiping customs duties. In the twenty-seventh year of Guangxu (190 1), the compensation was newly determined. Sichuan sends out 2.2 million yuan of silver every year, with an average of 12 times a month. By twenty-nine years (1903), he had borrowed 302,000 yuan from Shanxi ticket seller, and was forced to cancel the payment, so he borrowed it from Shanxi ticket seller again. In the 15th year of Guangxu (1889), Huai 'an Pass of Jiangsu borrowed 12,000 silver from Shanxi Sanjinyuan Bank and delivered it for internal transportation. In the 12th year of Tongzhi (1873), Shanxi Province borrowed 265,438+200,000 from more than 40 banks in Pingyao and other counties due to long-term empty storage. In the 13th year of Guangxu (1887), the draft banks from Hunan to Shanxi were Tianchengheng and Xie Tongqing, and the bank was 48,000 Liang. In the 13th year of Guangxu (1887), Gan Jun returned to Gansu Road from Beijing and borrowed 32,000 yuan from Pingyao. In the 30th year of Guangxu (1904), Fengtian Official Salt Bureau borrowed two hundred and two thousand silver from Shanxi ticket seller Heshengyuan for turnover.
Remit to boxer indemnity
In the twenty-seventh year of Guangxu (190 1), Li Hongzhang signed the "Xin Chou Treaty" with foreign invaders on behalf of the Qing government, stipulating that war reparations of 450 million yuan, with an annual interest rate of 4%, would be paid off in 39 years. In order to pay reparations, the Qing government allocated a part of the national fiscal revenue to the provinces, requiring them to remit reparations annually, while the Shanxi draft bank undertook the task of remitting huge reparations.
"Four Countries Borrowing"
Undertaking the "four-country loan"
After the treaty of shimonoseki was signed, it paid compensation of 220 million yuan to Japan, and later redeemed Liao fee of 320 million yuan. The annual revenue of the Qing government is less than 89 million Liang. In order to raise reparations, he was forced to borrow foreign debts three times: for the first time, he borrowed 400 million francs from Russia and France and converted more than 98 million yuan into silver; Borrowed 6,543,806,000 pounds from Yingde for the second time, equivalent to more than 97 million yuan of silver; For the third time, he continued to borrow 6,543,806,000 pounds from Yingde, and the converted amount was 6,543,806,000 pounds due to exchange rate changes. The annual interest paid by the loans of the four countries is120,000 Liang. Together with other foreign loans, the national financial expenditure will increase by 20 million taels every year. The annual increase in the expenditure of the Ministry of Housing and Urban-Rural Development should be shared by the provinces, which can raise funds to pay off debts by raising the price of salt and gold or increasing the volume of goods in Shanghai. As a result, the business of Shanxi draft banks increased again and took over the exchange of some provinces. These banks include Xietongqing in Guangdong, Sichuan, Baichuantong in Guangxi, Heshengyuan in Anhui, Weishengchang in Jiangxi, Ganshengheng, Xietongqing, Weitaihou and Baichuantong in Hunan, Xietongqing in Shaanxi, Weitaihou in Fujian, Weishengchang, Xinshengchang in Henan, Heshengyuan and Weishengchang in Shanxi.
As can be seen from the above, Shanxi draft banks were originally produced due to the needs of commodity exchange and currency expansion. It is a financial institution separated from commerce. From 65438 to the 1950s, its business was changed to remittance and borrowing public funds, ignoring the exchange between ordinary businessmen and ordinary people, and even stipulated that no exchange was allowed under 500 taels. They often earn a lot of money through the exchange of public funds, and public funds do not count interest, thus gaining huge benefits. In the 30th year of Guangxu (1904), after the Qing government stipulated the interest-bearing method for public money dealers, the annual interest rate was only 4% to 5%, which was very beneficial for banks to occupy public funds. According to statistics, in July of Guangxu thirty-two years (1906), the production department deposited 6.93 million yuan in the bank, of which the household department deposited 4.24 million yuan in the bank, accounting for 6 1% of the total, 2.06 million yuan in the bank, accounting for 30% of the total, 572,000 yuan in foreign banks, accounting for 8% of the total, and in other banks. The above statistics show that the bank holds one-third of the deposit of the household, which means that the interests of the bank are closely linked with the interests of the Qing government, which makes the bank embark on a deformed road of prosperity.
The news that "Fukang fell and Hu Xueyan was finished" reached Jinzhong, and most ticket sellers in Shanxi were overjoyed. They are glad that the mountain on them has been pushed away, and Shanxi Bank can monopolize the whole country in the future. They seem to see a bright future and are waving to them.
But they didn't expect that the collapse of Fukang Bank also accelerated the process of the collapse of Shanxi Bank. Fukang lost 80 million taels of silver, which immediately set off a wave of exchange of silver in Beijing, and Shanxi banks wavered in this powerful wave.
Twenty years later, Shanxi ticket merchants who defended Jingang and its honor finally withdrew from the historical stage.
6 government policy editor
The Game between Government Power and Credit Power
On the one hand, there are external factors such as the export of bank number to bureaucrats and government authorities. But from the internal point of view, in the final analysis, it is because the constantly improving and upgrading financial services and the level of banks meet the needs of bureaucrats and the government. However, the government and bureaucrats rely heavily on banks, which improves the credibility level and brand strength of banks. For example, in 1862, the official funds of the exchange bank were opened for the first time. Because Nian Jun entered Henan from Anhui, the north-south road was cut off, and Guangzhou's salary of 1 million and 200 yuan could not be solved in Beijing, which was forced out by the embarrassing situation that "the department did not have much money in stock". In the end, the Ministry had to call the emperor and ordered the governor of Guangdong and Guangxi to "try to handle it, or walk around, or exchange it with merchants, or transport it to Tianjin by ship, and finally solve it quickly." During Cixi's flight to the west, the private bank played its unique exchange function, helping the provinces to exchange the funds of the Empress Dowager's voyage to the west. It also solved the urgent need for the court, made it refreshing both inside and outside the court, won the recognition of the Qing government and the commercial access policy, and created commercial prosperity and brand glory.
On the other hand, there have been three major foreign exchange bans in official remittances, and they have been banned all the time, and the bans have appeared repeatedly. Banks have penetrated the autocratic system and human constraints, moved forward in the ban of laws and policies, and also showed the inherent credit and brand strength of banks. For example, Guangdong and Guangdong Customs, Zhejiang and Zhejiang Customs and other provincial customs insist on paying bills of exchange for a long time. One of the decisive factors is financial constraints, tax shortage, expenditure exceeding income and fiscal deficit. If you want to pay the money within the time limit, you must borrow money from the bank. If the exchange is stopped, the bank will not pay wages, and Beijing wages will not be paid after the deadline. In fact, the exchange of bank number contains the functions of advance payment and loan, and the credit guarantee and creation function of bank number conforms to the inherent laws of banking industry, meets the needs of the Qing government and society, and is the internal driving force for prohibiting official exchange.
Alienation from service commerce to service finance
As early as when Emperor Xianfeng sold official donations to raise funds to suppress the Taiping Heavenly Kingdom, the private bank had already established contact with official donations and official sales, became the government's salary increase agency, and forged an indissoluble bond with bureaucrats and the government. 190 1 year, the ticket number was supported, and the funds needed for the Western Expedition of Empress Dowager Cixi were remitted, which was more favored by the government. Before Empress Dowager Cixi returned to China, Shuntianfu and Duchayuan urged the Shanxi Governor to return to Beijing to resume business, and then undertook remittance business in boxer indemnity, and was also responsible for remittance to foreign HSBC. When the creditor's rights shared by all localities cannot be paid on time, please send them to the bank for remittance. The number of provincial customs accepting foreign exchange public funds at the ticket number suddenly increased by 23, reaching as many as 39. 18941911year's public funds are remitted by banks and mainly remitted to foreign banks in Shanghai, from which banks make huge profits.
Banks were originally the product of China's commodity economy, and they were separated from commercial capital to serve the commodity economy. However, with the increasingly close business ties with the government, banks gradually shifted their attention from serving domestic industry and commerce to maintaining their position in the feudal government by recruiting talents. Blindly making friends with bureaucrats, relying heavily on the government, gradually shifting the business focus to the government's exchange, lending, deposit and agency business, becoming the financial pillar of the government, and the relationship with commodity circulation is gradually drifting away. Ordinary businessmen and ordinary people are indifferent to small businesses, and even have a foreign exchange quota limit of no more than 500.
Government supervision in the era of credit currency
With the development of industry and commerce, domestic and international trade, in the two centuries of the emergence, development and decline of banks, a large number of financial instruments, such as bills of exchange, bank notes and paper money, have been produced. The monetary form has developed into the era of alternative currency or quasi-credit currency, and has increasingly become a symbol of quantity measurement and value, and a credit currency that needs to be based on the credit of the state and banks and guaranteed by law. Banks are increasingly becoming the core of social economy, affecting the political and economic lifeline of a country and region. Therefore, it is increasingly necessary for the government to supervise banks and other banking institutions. At the end of the Qing Dynasty, the government promulgated laws and policies such as General Rules of Banks, Provisional Regulations on Ordinary Bank Notes, and Regulations on Spot Check of Bank Notes, which complied with the needs of historical development and the laws of bank credit. It has brought China's credit and banking system into a new era of legalization, standardization and modernization, and laid a good foundation for the establishment and development of modern bank credit in China. [ 1]
7 influence editor
Banks with a history of 1 10 years indicate the credit construction level and brand strength of local traditional banking institutions. In the eyes of Li Hongling, a ticket number reformer, the ticket number "is distributed all over the country and enjoys a worldwide reputation-China's business is prosperous, which is better than that of western ticket number merchants." Li Hongling also saw the historical trend of the credit system and the development direction of modern banks. His responsibility and ideal is to make good use of the credit and brand assets of existing banks and reform the credit system with the help of "golden credit, solid number banks" to achieve the goal of "taking the lead and moving the whole body to resist foreign aid" However, under the supervision of the government in the late Qing Dynasty and the early Republic of China, the bank finally failed to successfully transform and entered a new road, which is worth discussing. In addition to the internal causes of the failure of bank reform, such as bank ownership, managers' ideological contradictions and differences of opinion, does the government have the responsibility to rescue banking institutions related to the national economy and people's livelihood while supervising? What role should the government play in the process of transforming a traditional financial institution with a long history and rich brand assets into a modern bank? This gives us a broad imagination [1]
8 concept leading editor
Concept leads Wall Street's Shanxi Draft Bank
A hundred years ago, Shanxi merchants led the financial reform.
1823, the famous bank "Rishengchang" was born in Pingyao County, Shanxi Province. After several years of operation, Rishengchang Bank has made huge profits in its exclusive exchange and deposit business. It is said that from Daoguang to Tongzhi for more than 50 years, Li received more than 2 million taels of silver from Rishengchang Bank. Encouraged by the success of Rishengchang Bank, Shanxi merchants set up or changed banks one after another, which greatly promoted the development of commercial trade at that time. In the past hundred years, Shanxi draft banks basically monopolized the exchange business in the Qing Dynasty. During the period from 1893 to 19 10, Shanxi Bank reached its peak. Many banks received nearly 22,000 taels of cash per share, and their branches spread all over the country and abroad, and their business fields were very extensive, thus gaining the reputation of "Huitong World". It is worth mentioning that, although the Shanxi draft bank at that time had a family color, its business model and management were quite modern, and some financial concepts appeared on Western Wall Street a hundred years later.
In the process of Shanxi merchants engaged in foreign trade, the draft number undoubtedly played a huge role. It can be said that Shanxi Bank is the first financial institution in China to enter the international financial market and directly set up branches abroad. They also set up branches in Guangzhou, Shanghai and other major domestic commercial ports to directly provide financial remittance services for Chinese and foreign businessmen engaged in import and export trade, which greatly promoted the development of domestic and foreign trade.
9 fade-in editing
Economic crisis and political turmoil
From 65438 to 70' s, silk tea fell into crisis and Chinese businessmen closed down at a loss due to foreign investors' underpricing. Bill banks in Suzhou and Hankou have transferred hundreds of thousands of accounts back, which means losses or deficits. In the event of a bank run, the bank will inevitably close down because the loan cannot be recovered. Hu Xueyan's "Fukang" bank closed down because it was cheated by foreign businessmen. The nationwide credit crisis has affected the whole financial industry. At the beginning of the 20th century, the fifth commercial bank "Dongshenghe" in Yingkou, which mainly engaged in the production and export of soybean oil, closed down, owing foreign banks, households and banks more than 5 million yuan, including 2 million yuan. Foreign banks and family banks lend by mortgage, each with its own privileges, and almost all the money lent out is recovered; The draft bank is a credit bank. Although he is a member of the creditor group, he has not even recovered half of it. Following the "Dongsheng River", there is another rubber fever in Shanghai. In this agitation, the banks of "Yuanfengrun" and "Yishanyuan" closed down one after another, owing millions of public and private funds, which once again triggered a credit crisis in the banking industry. Before the end of the Qing Dynasty, the fatal weakness of the bank's operation mode was that it only made credit loans, not mortgage loans. A large number of loans are not guaranteed by any materials. In times of economic crisis and political turmoil, the risk of not receiving loans is great.
Many companies go bankrupt because of poor management, which usually drags down the banks that lend them money. Every time the economic crisis comes, many banks fail because of bank runs and failure to receive funds.
Met a strong competitor
Before the end of Qing Dynasty, although more than a dozen commercial banks, such as China Commercial Bank, Zhejiang Xingye Bank and Siming Bank, were established, they all posed a competitive threat to Shanxi banks, but the main competitors for banks were household banks jointly run by government and businessmen, Bank of Communications and some provincial banks. Because Hubu Bank (later changed to Daqing Bank) has the functions of acting as an agent for the state treasury, collecting official funds and abundant capital, it can control the market. In the past, the official business of collecting foreign exchange by bank number and collecting foreign exchange was almost taken over by the bank of the household department; Because the bank has monopoly and control functions in the financial industry, it has a great influence on the operation of the bank. In the market competition, the household banks have to raise the deposit interest rate or lower the loan interest rate, and the bank number has to follow suit, which directly threatens the survival of the bank number. Nevertheless, before the late Qing Dynasty, banks still had considerable power. With the passage of time, the backwardness of bank operation mode is becoming more and more prominent. Banks are banks that handle deposits, loans and remittances. As a banking industry, besides its own capital, the scale of its development depends on the development of deposits. More deposits, more loans; More loans, more interest on income, and more profits besides paying interest on deposits. This is one aspect. On the other hand, if a depositor runs a bank and cannot pay for the deposit because the loan cannot be recovered, then the more loans, the faster it will close down. In addition, most of the financial profits are attributed to the banks of the Ministry of Finance, and the profits earned by banks are decreasing day by day. The ship leaked against the wind. Shanxi draft banks finally suffered a fatal blow in the Revolution of 1911.
During the Revolution of 1911, many commercial cities, such as Hankou, Chengdu, Xi, Taiyuan, Beijing and Tianjin, experienced wars. Industry and commerce, as well as the number of money and banks, inevitably suffered losses. Beijing is the city where banks absorb the most funds, accounting for 30% of its total deposits. As a result, Shanxi Bank ran aground and closed down, starting with Beijing Branch. The economic crisis caused by war and revolution led to the closure of many banks. In the midst of bankruptcy, in addition to four banks, such as Dadetong, Dadeheng, Sanjinyuan and Dashengchuan, 22 banks in Shanxi took out a large amount of cash to cope with the bank run in 1911 and continued to operate. Unable to cope with the run, dozens of banks such as Rishengchang closed down one after another. Four banks, Dadetong, Dadeheng, Sanjinyuan and Dashengchuan, continued for another twenty or thirty years, and finally they could not escape the fate of bankruptcy.
From "rich in the world" to ruin, Jin Gang finally completed this tragicomedy of life on the historical stage.