The Chinese cornerstone of modern banking : the Canton guaranty system and the origins of bank deposit insurance 1780-1933 / by Frederick Delano Grant, Jr.

Format:

Book

Author/Creator:

Grant, Frederick Delano, Jr., author.

Series:

Legal history library ; Volume 14.

Legal history library. Studies in the history of private law ; Volume 6.

Legal History Library, 1874-1793 ; Volume 14

Legal history library. Studies in the history of private law ; Volume 6

Language:

English

Subjects (All):

Deposit insurance--China--Guangzhou--History.

Deposit insurance.

Suretyship and guaranty--China--Guangzhou--History.

Suretyship and guaranty.

Banks and banking--China--History.

Banks and banking.

History.

China.

China--Guangzhou.

Genre:

Electronic books.

Physical Description:

1 online resource (378 pages, 23 unnumbered pages of plates): illustrations, charts, photographs.

Place of Publication:

Leiden, Netherlands : Brill Nijhoff, 2014.

System Details:

text file

Summary:

Modern bank insurance is traced to its roots in The Chinese Cornerstone of Modern Baking: The Canton Guaranty System and the Origins of Bank Deposit Insurance 1780-1933. The Canton Guaranty Systems inspired radical reform in New York in 1829. 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 afflicitions of the Chinese system, including moral hazard, too big to fail, and unenforrced, laws remain familiar today. Book jacket.

Contents:

1 Introduction 1

1 Subject and Framework 3

2 Previous Research 8

3 The 1829 Crisis in the State of New York 13

4 The Crisis in the Chinese Port of Canton: 1829 15

5 The 1829 Crises as Prologue 16

2 Sources of the Canton Guaranty System 18

1 Conquest and Pacification 18

2 The Organization of Merchants Engaged in Maritime Trade 31

3 Official Roots of Collective Responsibility 39

4 Collective Responsibility in Chinese Tradition 47

3 Evolution of the Canton Guaranty System 54

1 Official Management of Maritime Foreign Trade 54

2 The Security Merchant System and Origins of Collective Responsibility 60

3 The Formal Regulation of Maritime Foreign Trade 71

4 Debt Collection Under the Canton System 93

5 The 1780 Crisis and Imposition of the Collective Guaranty 111

4 The Fund is Drained, 1780-1799 126

1 The Hong Merchants, 1780-1799 127

2 The Demands of Government, 1780-1799 129

3 Trading Conditions, 1780-1799 132

4 The Collective Guaranty of Debt, 1780-1799 138

5 Three Plagues: War, Piracy and Litigation, 1800-1814 146

1 The Hong Merchants, 1800-1814 148

2 The Demands of Government, 1800-1814 151

3 Trading Conditions, 1800-1814 154

4 The Collective Guaranty of Debt, 1800-1814 157

5 The Abortive 1810 Receivership of Gnewqua II and Ponqua 159

6 The 1813 Receivership of the Junior Hong Merchants 163

6 Years of Rebound and Opium, 1815-1828 166

1 The Hong Merchants, 1815-1828 166

2 The Demands of Government, 1815-1828 170

3 Trading Conditions, 1815-1828 171

4 The Experience of Conseequa, 1796-1823 173

5 The Collective Guaranty of Debt, 1815-1828 184

7 The Last Years of the Canton System, 1829-1842 192

1 The Hong Merchants, 1829-1842 194

2 Trading Conditions, 1829-1842 202

3 The Collective Guaranty of Debt, 1829-1842 207

8 From Safety Fund to Bank Deposit Insurance 218

1 Joshua Forman 221

2 The Power of Suggestion 224

3 The Banking Crisis in the State of New York 226

4 The 1829 New York Safety Fund Statute 230

5 Early State Bank Guaranty Programs 237

6 Implementation of National Deposit Insurance in the United States 240

9 Eighty Years of Bank Deposit Insurance 252

1 Federal Deposit Insurance in the United States 253

2 The International Progress of Bank Deposit Insurance 257

10 Epilogue 263.

Notes:

Includes bibliographical references and index.

Description based on print version record.

Local Notes:

Electronic reproduction. Ann Arbor, MI : ProQuest, 2015. Available via World Wide Web. Access may be limited to ProQuest affiliated libraries.

Other Format:

Print version: Grant, Frederick Delano, Jr. Chinese cornerstone of modern banking : the Canton guaranty system and the origins of bank deposit insurance 1780-1933.

ISBN:

9789004276567

OCLC:

893333616

Access Restriction:

Restricted for use by site license.