The Hong Merchants of Canton

The Hong Merchants of Canton
Author: Weng Eang Cheong
Publisher: Routledge
Total Pages: 385
Release: 2013-10-11
Genre: Social Science
ISBN: 1136785817

This study eschews the uncritical acceptance of secondary sources that has characterized studies in this field, going back to and reinterpreting previously neglected primary sources, thereby enabling it to chart linkages between the European and Asian trades that have been regarded as parallel but unrelated (or at best competing) activities. In so doing, the work sheds new light on this crucial period.

The Canton Trade

The Canton Trade
Author: Paul A. Van Dyke
Publisher: Hong Kong University Press
Total Pages: 335
Release: 2005-12-01
Genre: History
ISBN: 9622097499

This study utilizes a wide range of new source materials to reconstruct the day-to-day operations of the port of Canton during the eighteenth and first half of the nineteenth centuries. Using a bottom-up approach, it provides a fresh look at the successes and failures of the trade by focusing on the practices and procedures rather than on the official policies and protocols. The narrative, however, reads like a story as the author unravels the daily lives of all the players from sampan operators, pilots, compradors and linguists, to country traders, supercargoes, Hong merchants and customs officials. New areas to studies of this kind are covered as well, such as Armenians, junk traders and rice traders, all of whom played intricate roles in moving the commerce forward. The Canton Trade shows that contrary to popular belief, the trade was stable, predictable and secure, with many incentives built into the policies to encourage it to grow. The huge expansion of trade was, in fact, one of the factors that contributed to its collapse as the increase in revenues blinded government officials to the long-term deterioration of the lower administrative echelons. In the end, the system was toppled, but that happened mainly because it had already defeated itself. General readers and academicians interested in world and Asian history, trading companies, country trade, Hong merchants, and articles of trade will find much new and relevant information here.

Global Trade in the Nineteenth Century

Global Trade in the Nineteenth Century
Author: John D. Wong
Publisher: Cambridge University Press
Total Pages: 261
Release: 2016-07-04
Genre: Business & Economics
ISBN: 1107150663

An innovative new study of the Canton trade networks that helped to shape the modern world.

Sino-French Trade at Canton, 1698–1842

Sino-French Trade at Canton, 1698–1842
Author: Susan E. Schopp
Publisher: Hong Kong University Press
Total Pages: 211
Release: 2020-11-02
Genre: History
ISBN: 9888528505

Sino-French Trade at Canton, 1698–1842 presents a rare and lively view of the French experience at Canton, and calls for a reappraisal of France’s role in that trade. France was one of the two most important Western powers in the eighteenth century, and was home to one of the three major European East India companies. Yet the nation is woefully underrepresented in Canton trade scholarship. Susan E. Schopp rescues the French from the sidelines, showing that they exerted a presence that, though closely watched by their rivals, is today largely unrecognized. Their contributions were diverse, ranging from finding new sea routes to inspiring the renovation of hong façades. Consequently, to ignore the French, or to dismiss them as simply “also-rans,” results in a skewed perception of the Canton system. Schopp also demonstrates that while the most distinctive aspect of the French model of company trade was the dominant role of the state—indeed, the French East India Company has been memorably described as a “Versailles of trade”—this did not rule out a place for legitimate, and sometimes surprising, participation by the private sector. On the contrary: France’s commercial relations with China were inaugurated by private traders, and the popularity of the Canton trade spurred the eventual demise of the company model. Backed up by extensive archival work, Schopp’s work demonstrates a remarkable understanding of the Sino-European trade, and her book reveals an unparalleled passion for the role of seamanship in history. “It is shocking how little has been written in any language about French trade in China, so this excellent book fills a tremendous need. It has the potential to become a classic monograph of lasting significance: an outstanding work that will make a strong imprint on the historiography.” —Tonio Andrade, Emory University “Schopp’s valuable study shows that the French ought not to be considered ‘also-rans’ in European trade with China. The French way was, in fact, a ‘distinctive model’ of European trade with China, one different from that of the better-known English East India Company. The author’s comprehensive research takes the reader into the material history of the French trading vessels, the hong, and the personnel involved in the trade.” —Robert Aldrich, University of Sydney

The Private Side of the Canton Trade, 1700–1840

The Private Side of the Canton Trade, 1700–1840
Author: Paul A. Van Dyke
Publisher: Hong Kong University Press
Total Pages: 207
Release: 2018-03-13
Genre: History
ISBN: 9888390937

It is not often recognized that China was one of the few places in the early modern world where all merchants had equal access to the market. This study shows that private traders, regardless of the volume of their trade, were granted the same privileges in Canton as the large East India companies. All of these companies relied, to some extent, on private capital to finance their operations. Without the investments from individuals, the trade with China would have been greatly hindered. Competitors, large and small, traded alongside each other while enemies traded alongside enemies. Buddhists, Muslims, Catholics, Protestants, Parsees, Armenians, Hindus, and others lived and worked within the small area in the western suburbs of Canton designated for foreigners. Cantonese shopkeepers were not allowed to discriminate against any foreign traders. In fact, the shopkeepers were generally working in a competitive environment, providing customer-oriented service that generated goodwill, friendship, and trust. These contributed to the growth of the trade as a whole. While many private traders were involved in smuggling opium, others, such as Nathan Dunn, were much opposed to it. The case studies in this volume demonstrate that fortunes could be made in China by trading in legitimate items just as successfully as in illegitimate ones, which tellingly suggests that the rapid spread of opium smuggling in China could be a result of inadequate, rather than excessive, regulation by the Qing government. ‘For this absorbing book, Van Dyke and Schopp have convened excellent scholars, junior and senior, to throw new light on the foreign merchants outside the East India companies who shaped China’s engagement with the world at least as much as the companies’ men did, if not more. The slumbering field of foreign trade in Qing China has come back to life.’ —Timothy Brook, University of British Columbia ‘Much scholarship on the China trade has focused on the activities of the vast state-sponsored companies. This book flips the script. Now we know that, right under the noses of those economic behemoths, smaller private traders from Europe, America, and China were quietly reshaping the trade with their innovation, networking, grit, and dreams.’ —John R. Haddad, The Pennsylvania State University

Whampoa and the Canton Trade

Whampoa and the Canton Trade
Author: Paul A. Van Dyke
Publisher: Hong Kong University Press
Total Pages: 328
Release: 2020-03-20
Genre: History
ISBN: 9888528351

Paul A. Van Dyke’s new book, Whampoa and the Canton Trade: Life and Death in a Chinese Port, 1700–1842, authoritatively corrects misconceptions about how the Qing government treated foreigners when it controlled all trade in the Guangzhou port. Van Dyke reappraises the role of Whampoa in the system—a port twenty kilometres away from Guangzhou—and reassesses the government’s attitude towards foreigners, which was much more accommodating than previous research suggested. In fact, Van Dyke shows that foreigners were not bound by local laws and were given freedom of movement around Whampoa and Canton to the extent that they were treated with leniency even when found in off-limit places. Whampoa and the Canton Trade recounts the lives of seamen who travelled half-way around the globe at great risk and lived through a historic period that would become the framework for subsequent encounters between China and the rest of the world. Were it not for the exchanges between the major powers and the Qing empire, the world—as we know it—would be a rather different place. Hence, Van Dyke’s command of data mining shows that Whampoa was a key pillar in the Canton System and, thus, in the making of the modern world economy. ‘Paul Van Dyke has transformed our understanding of the Canton trade. In this book, he brings his enormous knowledge of the primary sources to this study of Whampoa, the anchorage on the Pearl River used by all foreign ships when that trade was confined to the port of Canton, presenting “a view of the trade from the common seaman’s perspective.”’ —Evelyn S. Rawski, University of Pittsburgh ‘Paul A. Van Dyke wonderfully brings to life the drudgery and danger faced by the diverse men who worked the ships of the Canton trade. He skilfully fashions vivid images of the texture of their lives from danger to boredom, from illnesses and accidents to drinking and whoring.’ —R. Bin Wong, UCLA

The Chinese Cornerstone of Modern Banking

The Chinese Cornerstone of Modern Banking
Author: Frederic Delano Grant, Jr.
Publisher: Martinus Nijhoff Publishers
Total Pages: 378
Release: 2014-09-25
Genre: Law
ISBN: 9004276564

Modern bank insurance is traced to its roots in The Chinese Cornerstone of Modern Banking: The Canton Guaranty System and the Origins of Bank Deposit Insurance 1780-1933. Frederic Delano Grant, Jr. provides new understandings of the Canton System, collective responsibility for debt at Canton, and the history of deposit insurance. The Canton Guaranty System inspired radical reform in New York in 1829 – the ancestor of all modern deposit insurance. Yet it was never the success imagined, and soon failed. In the Opium War, the Chinese government as implicit guarantor was forced to pay its debts in full on 23 July 1843. The afflictions of the Chinese system, including moral hazard, too big to fail, and unenforced laws, remain familiar today.

China Trade and Empire

China Trade and Empire
Author: Alain Le Pichon
Publisher: Oxford University Press
Total Pages: 672
Release: 2006-08-10
Genre: Business & Economics
ISBN: 9780197263372

263 letters written by or to William Jardine and James Matheson... covers a period of rapid growth for Jardine, Matheson & Co, from 1827 when the founders first joined forces, to Jardine's death in 1843, shortly after the end of the Opium War