Updated June 02 2018
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Bank of China 中國銀行 - the Amoy 厦門 (Xiamen) Branch issues of 1930
The American Banknote Company printed series of 1930 for the Amoy branch, Fukien (Fujian) Province, has been something of a mystery.
The question is why these notes were issued at all, as they are almost identical to the series of 1918 which continued to be issued by other branches until the late 1930s. Amoy was indeed the only branch to be given this special issue. Printed in the same design and colours; the date and branch name specified is the only obvious difference. Regarding the branch name; the 1918 notes for this region (as with the Shantung issues) refer to the province - Fukien (Fujian) - rather than the specific city in which the responsible issuing branch was located. Some 1918 notes are found with 1920s overprints specifying city-branch issues including Amoy and Foochow (Fuzhou).
Further, these 1930 notes are designated as "Local Currency", which seems unusual by this late date. The two signature varieties demonstrate that these were issued from 1930 to at least 1935.
Right: The Bank of China Amoy branch, c1920s.
The most likely explanation is a connection with the handing over of the Amoy (Xiamen) British Concession back to Chinese government control in September 1930. The notes are indeed dated for the following month; October. This handover was part of a general scheme to relax and over time relinquish British control in China, including the returning of other Concessions, the restoration of tariff autonomy to China in 1928, and the ending of some legal privileges. This was motivated by the changing political situation both for Britain following World War I, and within China, with the rise of the Kuomintang, and with the Concessions among factors provoking renewed and growing anti-British feeling since the early 1920's. Britain hoped that this process would improve relations with the Chinese government and therefore help to boost potential British business interests in China.
Another additional reason for this currency series may have been the major fall in the price of silver in 1930, though any connection with Amoy specifically is uncertain. Certainly the area (and by no means alone of course) was suffering greatly during the early 1930's. A Foreign consul at the time estimated that around 60% of families in the region were being directly supported by money from relatives overseas. A third of the native banks in Amoy had gone out of business by 1933, due to the poor economic conditions.
Another additional reason for this currency series may have been the major fall in the price of silver in 1930, though any connection with Amoy specifically is uncertain. Certainly the area (and by no means alone of course) was suffering greatly during the early 1930's. A Foreign consul at the time estimated that around 60% of families in the region were being directly supported by money from relatives overseas. A third of the native banks in Amoy had gone out of business by 1933, due to the poor economic conditions.
Regarding the romanized form of the city/branch name; the now used Xiamen is the atonal pinyin romanization of the characters' pronunciation in Mandarin. Until the c1950s, this was given as Amoy, which was based on the same name's pronunciation in the Zhangzhou dialect of Hokkien; Ē-mûi. The Chinese name as written has not changed beyond the simplification of some of the characters since the 1950s (and the introduction of left to right reading); 門廈 becoming: 厦门
Sources include: The Chinese Overseas, Volume 4, by Hong Liu. Taylor & Francis, 2006. p18-19
Sources include: The Chinese Overseas, Volume 4, by Hong Liu. Taylor & Francis, 2006. p18-19
The Banknotes - 'October 1930'
1 Dollar (Local Currency) No ABNC copyright mark. Green. (front) The Temple of Heaven; Hall of Prayer for Good Harvests at Peking (Beijing), at centre. (back) patterned borders, texts and denomination in English. The Temple of Heaven vignette used on the American Banknote Company printed 1 Yuan/Dollar notes of 1918 and 1930, and, on all 1940-42 ABNC issues, is based on a photograph taken in 1898. The photographer has not yet been identified and this photo assumedly appeared in a book of Chinese travel photographs. Type 1, Type 2 (Krause SCWPM P 67, Smith & Matravers C294-170): serial number with no prefix/suffix letters. Coloured planchets (dots) in paper. Engraved front and back. Two signature types: 5 Dollars (Local Currency) The ABNC copyright mark is located at the lower right within the front vignette, amidst the lily pads. Purple. (front) White Dagoba in Beihai Park, a Tibetan style Buddhist monument in Peking (Beijing), built to honour the visit of the 5th Dalai Lama in 1651. (back) patterned borders, texts and denomination in English. Type 1, Type 2 (Krause SCWPM P 68, Smith & Matravers C294-171): serial number with no prefix/suffix letters. Coloured planchets (dots) in paper. Engraved front and back. Two signature types: (see 1 Dollar above). 10 Dollars (Local Currency) The ABNC copyright mark is located at the lower left corner within the front vignette. Orange. (front) South entrance to the Hall of Great Accomplishment, Temple of Confucius - Peking (Beijing) with an avenue of trees. (back) patterned borders, texts and denomination in English. Type 1, Type 2 (Krause SCWPM P 69, Smith & Matravers C294-172): serial number with no prefix/suffix letters. Coloured planchets (dots) in paper. Engraved front and back. Two signature types: (see 1 Dollar above). |