The 'Fan Kwae' at Canton Before Treaty Days 1825-1844Hunter, William C.
History
The 'Fan Kwae' at Canton Before Treaty Days 1825-1844
Hunter, William C.
Guangzhou (China) -- Commerce; Guangzhou (China) -- Description and travel
As a natural consequence of the non-existence of gold or silver coin,
imported dollars, from being continually weighed and stamped when
passing from hand to hand, became 'chopped dollars' or 'cut money'
in Canton phraseology, the first from being stamped by the Shroff on
examining them, with any character which he may select, and which
is his guarantee of goodness. In the shapeless form which they thus
acquire, payments are made by weight in taels, and its component parts
of mace, candareens, and cash.[33] This custom of weighing metals
has existed in China since 903 A.D. If any money stamped by a Shroff
on examination proved bad, it was exchanged by him, but such cases
were extremely rare. A small pair of scales for money transactions is
generally carried by Chinese attached to a waistbelt.
Shroffs examined all amounts brought to them by any one, but went
to the foreign Factories, to the Hong merchants or other customers,
when required. The charge was small, and the amount of silver passing
yearly through their hands was enormous, as amongst the Chinese all
transactions were for money or its representative.[34] Shroffs were also
'changers'--providing when required either Sycee, chopped dollars, or
gold--as well as bankers, making loans or receiving deposits. The floors
of their shops are covered with brown tiles, and at the end of the year
they can sell the privilege of removing the floor for the chance of
finding scraps of silver which may have escaped through the interstices
of the tiles, the buyer of the privilege replacing the floor at his own
cost. I have heard of as much as fifty taels (about $70) being paid to
an important Shroff-shop for such a transaction.
Public-domain text, read in full here on John Shaqi.
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