China : Its Social, Political, And Religious Life
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It weighs about 7 grammes, and 1000 sapeques on a string are worth about 5 fr. (4s. 2d).
The tael is merely the indication of a weight, equiva- lent to one Chinese ounce, or 37 • 796 grammes of silver, and after being verified for weight, it requires verifica^ tion for its distinctive title.
The sapeque or chien is stated to have been invented 2600 years before our era ; it is, as has been Bhown, a AKD RELIGIOUS LIFE. 113 heavy and clumsy coin, but it was the origin of fiduciary money.
The inst...itution of banking dates from the same period, as it will be readily understood that the heavy weight of the coin necessarily led people to think how its transport could be avoided. It will readily be sup- posed also that the light construction of Chinese houses, and the fires to which their wooden materials expose them, induced persons a long time ago to unite their savings in special banks under the care of a clerk, whose duty it was to take note of all payments made, and to cash drafts when required.
What to read after China : Its Social, Political, And Religious Life?
You can find similar books in the "Read Also" column, or choose other free books by Eugne Simon to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
It weighs about 7 grammes, and 1000 sapeques on a string are worth about 5 fr. (4s. 2d).
The tael is merely the indication of a weight, equiva- lent to one Chinese ounce, or 37 • 796 grammes of silver, and after being verified for weight, it requires verifica^ tion for its distinctive title.
The sapeque or chien is stated to have been invented 2600 years before our era ; it is, as has been Bhown, a AKD RELIGIOUS LIFE. 113 heavy and clumsy coin, but it was the origin of fiduciary money.
The inst...itution of banking dates from the same period, as it will be readily understood that the heavy weight of the coin necessarily led people to think how its transport could be avoided. It will readily be sup- posed also that the light construction of Chinese houses, and the fires to which their wooden materials expose them, induced persons a long time ago to unite their savings in special banks under the care of a clerk, whose duty it was to take note of all payments made, and to cash drafts when required.
What to read after China : Its Social, Political, And Religious Life?
You can find similar books in the "Read Also" column, or choose other free books by Eugne Simon to read onlineMoreLess
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