The Trade of China and Western was restricted to Canton, but the amount of trade really had been increased. Ch'ing government intruded the use of sycee silver upon the western merchant. For the reason, the more western merchant purchased tea and silk,...
The Trade of China and Western was restricted to Canton, but the amount of trade really had been increased. Ch'ing government intruded the use of sycee silver upon the western merchant. For the reason, the more western merchant purchased tea and silk, the more western silver dollars they had payed flowed into China. Finally before the Opium war o.5 billion dollars put into circulation in China. It partly was altered the western silver dollar to sycee, the others broke in peices and circulated. But most silver dollar was used itself in chinese coinage system.
At the first stage, the western silver dollar was used on the coast, later it was spread into the inner China. Particularly the silver was used even to pay taxes. It was the reason that the produce of silver was not to be enough and that there was the absence of Ch'ing government financial policy for the production of its silver dollar. For the beautiful appearance of the western silver dollar, the coastal inhabitants liked to get it, little by little.
After the western silver dollar was used on the coast and its inner-coast, it had stimulated the transformation of the China money system, and it made China government coin its silver dollar.
Before the Opium war, China local government has partly made silver dollar that imitated the western silver dollar. But the Liang Kwuang general governor(兩廣總督), Chang Chi-dong(張之洞), finally coined the Chinese silver dollar in Kwuang-dong on 1886. Afterwards all of the other province competitively minted its silver dollar, ended to be disordered the China system of coin's circulation.