Appletons' Popular Science Monthly, April 1900: Vol. 56, Nov. 1899 to April, 1900Various
History
Appletons' Popular Science Monthly, April 1900: Vol. 56, Nov. 1899 to April, 1900
Various
Science -- Periodicals; Technology -- Periodicals
The corporations likewise watch the transactions of their members,
oppose fraud which might harm the good name of the association so far
that the silversmiths will not permit one of their number to sell
alloyed jewelry, even when the purchaser knows it is such. Some see
that the taxes and duties on production are regularly and properly
paid. Others, in the interest of the stability of the houses, forbid
all fictitious sales and purchases, and most of the stock operations
and a large number of commercial transactions which seem very
simple to us would not be tolerated by them. The custom of selling
short having been introduced upon the silver exchange in Peking a
few years ago, a censor reported it as a kind of gambling, and the
Government interdicted the operation--a very rare example of official
intervention. Under a similar old-fashioned view, the corporation of
bankers inquires into the total amount of the notes issued by its
members. Every banker and every broker is free to issue notes, and
little attention is paid to the precautions required by the law. But
the corporation has an infallible means of restricting extravagance in
the emission of bills. If a house is going so fast as to be in danger
of compromising its credit and perhaps endangering the capital of
others associated with it, an order is given, all the notes are thrown
before the public, and the imprudent bank has to suspend its payments
and retire.
The corporation further maintains its reputation and keeps on good
terms with public powers by expenditures on ceremonials and charities.
Every year it appropriates a sum for the opening of the kitchens from
which rice and millet broths are distributed to the poor of Peking.
In case of famine or inundation, the quotas of the corporations do
not have to be waited for, while the more prominent commercial men
also contribute largely under their own names. They will subscribe
for a testimonial to a mandarin who has done good service, will help
prepare the road over which an imperial procession is to pass, and will
contribute to the pageantry of popular religious ceremonials.
Each corporation has its patron divinity, who is the object of a
special cult. With one it is the god of riches; with another Koan Yu,
god of war; with others a spirit of more limited competency, like
Lou Pan, a famous mechanician of the time of Confucius, now patron of
the carpenters. Adored in every shop by all the patrons and clerks,
the festivals of the protecting genius are celebrated by the whole
corporation at fixed dates. To some divinities a sacrifice of meats and
incense is offered in each warehouse, after which all the chiefs and
the men employed take part, while the spirit is supposed to be present.
To others, more rarely, a more bountiful sacrifice is made in a temple,
and the banquet, held in a large hall, is enlivened by dramatic
entertainments. The patron is also duly honored in the celebration of
the general feasts of the Chinese people.
Public-domain text, read in full here on John Shaqi.
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