books

85. Book: Silver in the history of Chinese currency

Shanghai Museum (ed.), Yiyi qian nian: Zhongguo huobi shi zhong de baiyin. Shanghai: Shanghai Museum, 2019. ISBN ISBN 978-7-5479-1987-3. 187 pp.

上海博物馆 编:《熠熠千年:中国货币史中的白银》 / Silver in the History of Chinese Currency. 上海: 上海博物馆, 2019 年。

This is the catalogue of the exhibition at the Shanghai Museum, in 2019. Curated by Wu Danmin, the exhibition centred on the Shanghai Museum’s excellent collection, with loans from China’s Finance and Taxation Museum 中国财税博物馆, the Sichuan Provincial Cultural Relics and Archaeological Research Institute 四川省文物考古研究院副院长, the National Center of Underwater Cultural Heritage 国家文物局水下文化遗产保护中心, and Guangdong Provincial Institute of Cultural Relics and Archaeology 广东省文物考古研究所 . The index (in Chinese and English) gives the captions to the 130 objects illustrated in the catalogue.

There are four forewords (in Chinese and English):

YANG Zhigang 杨志刚, Director, Shanghai Museum (pp. 6-7)

XU Xiang 徐向, China’s Finance and Taxation Museum (pp. 8-9)

TANG Fei 唐飞, Vice Dean, Sichuan Archaeology Research Institute (pp. 10-11)

SUN Jian 孙键, National Center of Underwater Cultural Heritage (pp. 12-13)

These are followed by four essays (in Chinese, with an English abstract):

WU Danmin 吴旦敏 — Zhongguo huobi shi zhong de baiyin 中国货币史中的白银 // The Silver in the History of Chinese Currency (pp. 14-20)

Abstract: The natural attributes of gold and silver give them the advantage over other metals to function as a form of payment. In Europe the history of silver working as currency and as vessels or adornments had virtually overlapped while it was not the same in China. Silver had been valued as precious metal as well as long-distance exchange media in the history of Chinese currency until by the end of sixteenth century that it became a standard currency in the monetary system. The Age of Exploration in the fifteenth century speeded up the global circulation of silver and saw its enormous influx into China which fueled the metallic currency market. To some extent, the maritime trade stimulated China’s commerce and industry, and urged a more advanced currency system to match its development. Silver eventually acted as a significant role on the stage and backed all of China’s economy.

CHEN Yang 陈阳 — Baiyin huobi beihou de caizheng tuishou – Tangdai zhi Mingdai yinding zhong suojian baiyin yu caizheng de guanxi 白银货币背后的财政推手 – 唐代至明代银锭中所见白银与财政的关系 // Pushing Hands Behind: The Relationship between the Silver Ingots and the Finance from the Tang to the Ming Dynasties (pp. 20-27)

Abstract: The thesis attempts to reveal the relationship between silver ingots and government’s income and expenditure on the analysis of the inscriptions and text material based on various forms of silver currency from the Tang to the Ming dynasties. It aims to investigate how the national’s finance and taxation system worked out to set up a silver standard monetary system through the functions of silver currency transferred from a method of large-scale payment in common commodity to considerable tax generated from goods in great volume of trade.

LIU Zhiyan 刘志岩 — Zheji chensha yin wei xiao: Jiangkou chen yin yizhi fajue ji 折戟沉沙银未销:江口沉银遗址发掘记 // The Underwater Archaeological Finding of Silver from the Jiangkou Site (pp. 28-32)

Abstract: This paper is aimed to tell the inside stories of the underwater archaeological finding of a sunken silver hoard in Jiangkou from the perspective of the archaeologist on-site, with some unrevealed details of how the site was discovered and excavated as well as the spiritual journey that the author experienced in the whole process. The article focuses on recording the archaeologists’ efforts in this first underwater practice in Sichuan province and so far the largest scaled underwater archaeological excavation of rivers in China. This tremendous discovery proved the legend of Zhang Xianzhong hiding a large silver treasure underwater at Jiangkou a real story and once again, the significance of archaeological evidence in the study of Chinese history.

YE Daoyang 叶道阳 — ‘Nanhai yihao’ chutu de yi pi jinshu huobi ‘南海一号’出土的一批金属货币 // Metal Coins Excavated from the Nanhai I Shipwreck (pp. 33-35).

Abstract: The Nanhai I shipwreck was originally located in the border area between Taishan City and Yangjiang City of Guangdong Province. It was discovered in the late 1980s. Afterward, the wreck was entirely unwatered and shifted to the Maritime Silk Road Museum of Guangdong in 2007. It has been conducted with excavation since 2014. It is a very important discovery so far in the history of China’s underwater archaeology. It is also very important relics along the Maritime Silk Road. // The Nanhai I shipwreck was basically preserved under sea mud. It is loaded with cargo of trade goods of the Southern Song Dynasty. The wreck is 22 meters long and 9.9 meters wide, with a sharp bow, square stern and multiple plates on both sides. Its structure is suitable for seagoing voyage, known as ‘Fu Chuan’, or literally Fortune Ship. // The Song dynasty was a prosperous period for China’s coinage industry. Silver began to circulate as an important part of the financial system. The development of overseas trade led to an increasing importance of the precious metals such as gold and silver of high value, light weight and convenient for long distance transportation. The Song people normally call it ‘light assets’ for both the silk and precious metals. // In the wreck, 290 kg of silver ingots have been excavated. It has also yielded a lot of gold leaves, as well as a large quantity of gold, silver and copper coins. The silver ingots displayed in this exhibition were intended to be carried abroad for use, so that the audience can also imagine the scenery of prosperous foreign trade in the Song Dynasty.

These are followed by the catalogue in three sections:

Chuantong yinliang 传统银两 // The Traditional Silver Ingots (pp. 36-95)

Baiyin dongzhe 白银东浙 // Silver Travelling to the East (pp. 96-127)

Yin yu zhichao 银与纸钞 // Silver and Paper Money (pp. 128-181)

Suoyin 索引 // Index (pp. 182-186)

84. Book: Money and Empire

“Money and Empire: coin influence and change from a world perspective

WANG Chunfa 王春法:Huobi yu wangchao: guoji shiyexia qianbi de yingxiang yu gaibian 《货币与王朝:国际视野下钱币的影响与改变》. Beijing 北京:Beijng shidai huawen shuju 北京时代华文书局, 2020年. ISBN 978-5699-3724-4. [WANG Chunfa (ed.-in-chief). Money and Empire: coin influence and change from a world perspective. Beijing: Beijing Shidai Huawen shuju, 2020. 325 pp. In Chinese]

This volume is the proceedings of the international conference held at the National Museum of China, 13-14 November 2019. It contains the 32 papers listed below (my translations are approximate) and foreword by the Director of the National Museum of China. A total of 42 papers were presented at the conference and are listed at the back of the book.

  • WANG Chunfa (Director, National Museum of China) – Foreword // 王春法 (中国历史博物馆):序言 (p.3)
  • HUANG Xiquan (Zhengzhou University) – On a newly seen Fancao spade-money weight and Banquan, site of the war between Yandi and Huangdi // 黄锡全 (郑州大学): 谈谈新见布权 “反苷” 与炎黄争战之地 “阪泉” (p.1)
  • HE Ping (China Renmin University) – The principles of coin casting and circulation in ancient China, and the hierarchical structure of money, as see in in King Jing of Zhou’s “casting large coins” // 何平 (中国人民大学财政金融学院): 从周景王 “铸大钱“ 看古代中国铜铸币流通原则与货币层次结构 (p.7)
  • DI Shengli (National Museum of China) – Inscriptions on the large knife-money of Qi // 翟胜利 (中国历史博物馆): 齐国大刀币铭文疏议 (p.13)
  • ZHU Anxiang (Hebei Normal University) – Currency circulation in the Wei, Jin and Northern and Southern Dynasties // 朱安祥 (中山大学历史系): 魏晋南北朝时期的货币流通方式 (p.27)
  • GAO Cui (National Museum of China) – Popular customs relating to paper money in the Tang dynasty // 高翠 (中国历史博物馆): 唐代民间纸钱风俗考述 (p.40)
  • JIANG Shunyuan (National Museum of China) – Wen Tianxiang’s “Shang Hong Zhai Tie” reveals a paper money crisis in the late Song dynasty // 姜舜源 (中国历史博物馆): 文天祥《上宏斋贴》揭南宋后期纸币危机 (p.46)
  • ZHOU Xiang (Shanghai Museum) – The Dachao tongbao and associated questions // 周祥 (上海博物馆): 大朝通宝及其相关问题 (p.52)
  • LIU Shunqian (Palace Museum Department of Scientific Research)  – “Tian qi xing qian” and the unification of the national currency in Yunnan in the Ming dynasty // 刘舜强 (故宫博物院科研处):  “天启行钱“于明代云南地区的国家货币一体化 (p.59)
  • TONG Chunyan (National Museum of China) – “Amituofu” charms // 佟春燕 (中国历史博物馆): “阿弥陀佛“ 压胜钱 (p.68)
  • YE Daoyang (Guangdong Maritime Silk Road Museum) – On the currency objects excavated from the Nanhai No. 1 Shipwreck // 叶道阳 (广东海上丝绸之路博物馆): “南海一号“出土货币辨析 (p.75)
  • WANG Liyan (National Museum of China) – Gold in China’s ancient monetary system // 王俪阎(中国历史博物馆): 中国古代货币体系中的黄金铸币 (p.82)
  • ZHAO Xiaoming (Xi’an Numismatic Museum) – Gold money in China – historical predicament and sources // 赵晓明 (西安钱币博物馆): 中国黄金货币的历史困境及根源 (p.93)
  • WANG Xianguo (Capital Museum) – The use of silver in early China and the development of the silver liang system // 王显国 (首都博物馆): 中国早期白银货币的使用及银两制的形成 (p.106)
  • WANG Jijie (China Numismatic Museum) – The “nan liang gai zhi” 50-ounce ingot of Tianqi 1 (1621) and associated questions // 王纪洁 (中国钱币博物馆): 天启元年 “南粮改折“ 五十两银锭及相关问题考证 (p.114)
  • WU Danmin (Shanghai Museum) – On silver currency in the Ming dynasty // 吴旦敏 (上海博物馆): 明代白银货币问题再探 (p.121)
  • LI Jinxiu (Institute of Historical Research, Chinese Academy of Social Sciences) – On the Sasanian silver coins in the Shuozhou Museum, Shanxi // 李锦绣 (中国社科学院古代史研究所): 山西朔州博物馆藏萨珊银币考释
  • YANG Fuxue (Dunhuang Academy) and YUAN Wei (Guizhou Provincial Museum) – The evolution of inscriptions on Central Asian Hellenistic coins // 杨富学 (敦煌研究院),袁炜 (贵州省博物馆): 中亚希腊化钱币铭文的嬗变
  • GUO Yunyan (Hebei University) – A catalogue of the Byzantine gold coins and gold pieces found in China // 郭云艳 (河北大学历史学院): 中国发现的拜占庭金币和金片的目录与概况 (p.146)
  • LI Xiaojia (Zhongshan University) – An exploration of the changes in headwear on the obverse of Sasanian coins before the 5th century // 李晓嘉 (中山大学历史系): 试探讨五世纪前萨珊银币正面王冠之变化
  • Agshun Aliyev (Beijing Foreign Languages University) – Ancient coins unearthed in Azerbaijan and their value on the Silk Road // 阿格申.阿利耶夫 (北京外国语言大学亚洲学院阿塞拜疆语教研室): 阿塞拜疆出土古钱发展轨迹与丝绸之路上的价值 (p.177)
  • QI Xiaoyan (Changzhi Institute) – On Sogdian imitations of Chinese ‘Kaiyuan tongbao’ coins // 齐小艳 (长治学院历史文化与旅游管理系): 苏特仿中国 “开元通宝“ 钱币研究 (p.188)
  • ZHENG Yue (Yinchuan Branch, People’s Bank of China) –The cultural characteristics of world coins from the dual perspective of coins made in East and West // 郑悦 (中国人民银行银川中支): 从中西钱币方式的二元视角看世界货币的文化特征 (p.190)
  • ZHOU Weirong (China Numismatic Museum) – The Influence of the Silk Road on China’s silver money // 周卫荣 (中国钱币博物馆): 论丝绸之路对中国白银货币化的影响 (p.198)
  • LAN Rixu (China Central Finance University) – The evolution and characteristics of Silk Road Money // 兰日旭 (中央财经大学惊喜学院): 丝绸之路上的货币演进及其特征 (p.208)
  • DAI Jianbing (Hebei Normal University) – Trade between ancient India and China and the exchange of coin culture // 戴建兵 (河北师范大学): 古代印度和中国的贸易及货币文化交流 (p.216)
  • CAO Guangsheng (Jiu Da Cultural Media Co.) – Han-to-Tang East-West cultural exchange and fusion as seen in the coins of the Zhaowu Nine Tribes // 曹光胜 (九大文化传播公司): 从昭武九姓钱币看汉唐时期东西方文化的交流与交融 (p.224)
  • Jonathan JARRETT (University of Leeds), tr. ZHANG Yue – Market exchange in the Byzantine empire and the Reform of Emperor Anastasius I // 乔纳森.加莱特 (英国利兹大学), 张月译: 拜占庭帝国的市场交易与阿纳斯塔修斯一世的货币改革 (p.266)
  • ZHOU Jianming (Institute of Culture, History and Tourism Management, Guangxi University, and Guilin Numismatic Society – A world view of coins circulation and influence – from the perspective of silver dollars of Annam circulating in China’s southwestern border areas // 周建明 (广西师范大学历史文化与旅游学院,桂林钱币学会): 国际视野下的钱币流通与影响 (p.277)
  • YUAN Lin (Xi’an Branch, People’s Bank of China) – The large influx of Japanese and Vietnamese cash into China in the 18th and 19th centuries and how the Qing government responded to it // 袁林 (中国人民银行西安分行): 十八,十九世纪日本,越南等国铜钱大量流入中国以清政府的应对 (p.285)
  • Georges DEPEYROT (École Normale Supérieure, Paris), tr. ZHANG Yue – The relationship between metal and coins in Europe // 乔治.德佩罗 (法国巴黎高等师范学院), 张月译: 欧洲的金属与货币关系 (p.296)
  • Helen WANG (British Museum), tr. ZHANG Yue – Displays of coins and medals at the British Museum, 1759-2019 // 汪海岚 (大英博物馆), 张月译: 钱币的展览展示—以大英博物馆钱币和奖章展览 (1759-2019) 形成为例 (p.307)
  • The Papers Presented at the Conference // 研讨活动读论文目录 (p.324)

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)

67. The T.S. Bayer Collection, Glasgow

Earlier this month, I was in Glasgow, and went to see some of the collections of Theophilus Siegfried Bayer (1694-1738), Sinologist and Professor of Greek and Roman Antiquities at St Petersburg, 1726-1738, who was one of the first (perhaps the first?) European sinologist to consider Chinese numismatics seriously, and who published De Re Nummaria Sinorum in 1737. (more…)

65. Book: Origin of paper currency in south-east Shanxi

Many thanks to TIAN Qiuping 田秋平 for giving us a copy of his book.

TIAN Qiuping, Zhibi chushi Jin dongnan (Shanxi guji chubanshe, 2007). ISBN 978-7-80597-856-6  //  田秋平著:《纸币初始晋东南》/Origin of Paper Currency at South-east of Shanxi Province (太原:山西古籍出版社,2007 年). TIAN Qiuping, Origin of Paper Currency at South-east of Shanxi Province (Taiyuan: Shanxi guji chubanshe, 2007). Black and white illustrations. (more…)

55. Paizi – printed colophons and Chinese charms

David Helliwell of the Bodleian Library, Oxford, writes the excellent blog Serica – some notes on old Chinese books. In his latest post he included an illustration of a paizi 牌子 (literally, a “plaque”). It reminded me of pieces in the BM’s collection of Chinese charms. Was there a connection? (more…)