Crisis Banking in the East: The History of the Chartered Mercantile Bank of London, India and China, 1853–93
The Chartered Mercantile Bank is one of the constituent banks of the huge Hongkong and Shanghai bank. This study charts its first 40 years as one of the pioneering banks of the Far East. The Chartered Mercantile became the leading exchange bank in India and South East Asia whilst always retaining its head office in the pivotal London market. Based upon meticulous research using a particularly rich set of banking archives, the book describes the complex political and financial circumstances on the subcontinent during the bank's early years and introduces the personalities in the Indian business and London banking worlds who guided the infant institution. The volatility of local markets is analysed, with portraits of the banks and merchant houses which did not survive the many financial crises in the East also included. This book will do much to remedy the lack of existing research into international finance, and Eastern banking in particular, in the 19th century. It provides an inside view of the workings of an Eastern bank - the nature of its business, methods of payment and exchange, recruitment and career patterns of staff, and includes valuable new material on the role of European bankers in an eastern setting.
What people are saying - Write a review
We haven't found any reviews in the usual places.
Other editions - View all
30 June 31 December accountant agency Agra amalgamation amount annual general meeting appointed April ™The Australia bad debts Bank of Asia Bank of Bombay Bank of India bankęs Bankers Beyts bills of exchange Board Bombay Gazette Bombay office branches bullion Calcutta capital cash cent Ceylon chairman Chartered Bank Chartered Mercantile Bank chief manager Colombo Commercial Bank Court of Directors deed of settlement discount dividend early East India Company Eastern banks Eastern exchange banks established February firm half yearly held Hong Kong Ibid India Ltd Joint Stock Bank liability liquidation London and China London head office London Joint Stock London office losses Madras Magazine MB Hist MB Hist 573A meeting of CMB merchants November October old bank Oriental Bank Corporation Penang profit provisional committee purchase reconstruction remittances reserve fund Royal Charter rupee rupee paper securities September Shanghai shareholders shares shipments shroff silver Singapore staff sterling trade William Howard William Jackson