74. Book: China’s Foreign Debt (catalogue of bonds and stock certificates)

The library of the Department of Coins and Medals, British Museum, has just acquired a copy of this illustrated catalogue, published almost 40 years ago in 1983:

Wilhelm KUHLMANN, China’s Foreign Debt 1865-1982 : Excluding the Debt of the ROC Taiwan (privately published by the author), Hannover, 1983. ISBN 0-9610400-0-9

bond book

Contents

PART 1
1. Preface
2. A few historical considerations
2a. Some aspects of China’s financial history
2b. Chronology
2c. Yen-denominated bond issues
2d. Direct loans of foreign governments to China
2e. Private investments in China
3. Recent developments
3a. Foreign funds raised by the PRC to finance imports
3b. The Sino-US claims settlement agreement
3c. Development in Great Britain
3d. Other countries
3e. The PRC’s first trial to launch an external bond issue
3f. Bondholders’ struggles for redemption
3g. The Hukuang Case, by Prof. Hubert Park Beck
3h. The actual estimate of China’s foreign debt in the form of bearer bonds
3j. Charts of the big Chinese government loans
3k. Development of a collector’s market in Chinese bonds 1974-82
PART 2
1a. Loan agreement
1b. Bond issues, specimens
1c. Reserve stock, duplicates
1d. Floatage, temporary bonds
1e. Inscribability, registerability
1f. Securities
1g. Drawing procedures
2. Introduction to the Catalogue
2a. Numbering system
2b. Other abbreviations
2c. Currencies
2d. Dates
2e. Denominations (= nominal or face value)
2f. Number issued and outstanding
2g. Colour
2h. Usual condition; grading
2j. Valuation
2k. Size
2l. Paper quality
2m. The different type settings
2n. Further general remarks
The Collector’s Synopsis of Chinese external bonds
Compilation of Chinese external bonds [ie the catalogue]
Appendix 1 – The Sino-German Agreement 1921
Appendix 2 – 4% Russian 1902 (China’s contribution to Russia)
Appendix 3 – Where to buy Chinese bonds
*
Every so often, someone asks about Chinese bonds and share certificates in the British Museum collection. There are a few in the BM Collection  – see Collection Online (search for China bond), but probably many more in private collections. Here’s one:
bond AN01556027_001_l

Government of the Republic of China Treasury Bond (8% on 500 francs) of 1923, for the Lung-Hsing-U-Hai Railway (BM 2014,4050.1, donated by Dirk Booms)

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