| After the Ming dynasty,go along with the capitalist mode of production and the development of trade in goods, The endogenous financial of China had a preliminary development. The endogenous financial operate the commercial lending, different from private lending and usury. After mid Qing, China's commodity economy further development, long-distance transaction get development. The emergence of Shanxi draft banks, means remittance business had the outstanding development on the basis of endogenous financial function.The remittance business of Shanxi draft banks adapt to the long-distance trafficking across regions, in the service of long-distance transaction. And within the various commercial port,the old-style banks start to manage the local commercial deposit payment as the main business. Shanxi draft banks and the old-style banks unite in the business, although have their own areas, gradually formed a new kind of financial model. After Gengzi,the old-style banks took the place of Shanxi draft banks, became the typical representative of the endogenous financial in China. The old-style banks adapt to the development of China's traditional business, inherited the endogenous financial general characteristics in China, modernized step by step with complex commercial development in modern China, and achieve a higher level of development.In modern China, the properties of Tianjin old-style banks and Shanghai Chien-Chuang are basically identical. Deposit payment and exchange become the main business.The second,the old-style banks engaged in buying and selling of gold and silver,securities, silver dollar,and bills discounting,called "FuShi".Compared with modern bank, the old-style bank has many unique characteristics.Due to each focused business, the banks can be divided into two types.Which operated deposit payment and exchange as the main business called "ZuoJiazi";Which operated all kinds of speculative business called"TaoShengyi".Tianjin old-style banks financing also rely mainly on deposits.Early banks deposited a certain amount of government funds,private businessmen tend to receive large stable deposit, referred to as the "Piaoxiang".Mn addition,Shanxi draft banks and the old-style banks'day-to-day loan also important source of funds. The old-style banks's credit loan is given priority, and do not tend to mortgage lending. Especially in real estate mortgage lending, tend to be explicitly forbidden in the articles of association of the old-style banks.The tendency of management, is closely linked to the operation of bank capital.Tianjin old-style banks remittance business, generally there are two ways:one for the field to set up the semicolon directly management; Second, established trade relations through the old-style banks in other cities,and agent remittance business for each other.Tianjin old-style banks through the use of special paper in the remittance business, give full play to the advantages of the credit trading.such as the "draft" can be tied up in the bank and businesses on both sides, under the condition of complete different ground settlement.The use of draft is actually to exchange business and credit loan business has carried on the effective combination.Tianjin old-style banks exchange mechanism compared with the direct exchange of Shanxi draft banks has obvious advantages.Tianjin old-style banks for the use of proceeds in addition to formal bank business,and often use its convenience to raise money, direct management of other commodities speculation, or the investment real estate. From the overall, the latter has a proportion, and formed the main profit of Tianjin old-style banks.This long-term trend is different with the modern banks, the old-style banks positioning is not a financial intermediary between capital supply and demand, the capital of the old-style banks is not the pure financial capital.The capital of tianjin old-style banks complicated sources,but the old-style of bankers aways were the core to to set up one old-style banks.The old-style banks' managers were aways famous and had good reputation.The old-style banks capital consists of equity and protection of the equity, the old-style banks's reputation aways does not rely on bank credit capital, and mainly on the basis of shareholder identity and worth.So the old-style banks' capital amount is not too much in general.The existence of equity, is used for the allot the shareholders' rights and obligations.At the period of the republic of China,Tianjin old-style banks capital scale has been a slow growth process,both average capital scale and capital growth rate,and even the capital increase the enthusiasm of all lags behind that of Shanghai. Compared with Tianjin old-style banks and modern banks of China, no matter one single bank or the total number of capital, much smaller than the bank's capital scale.But Tianjin old-style banks lending market through the unlimited liability of shareholders, as well as the later period and other special funds operation mechanism,make up for the defect of bank funds is narrow brings,ensure the bank can less capital financing,to form a larger strength.After Gengzi and Xinhai,Shanxi draft banks gradually decline,the old-style banks become the representative of Chinese financial endogenous.This is not just a replacement between two kinds of financial institutions, but the whole of China happened to the endogenous financial model transformation.Modern banks had the abundant capital and grasp the wide range of savings business, become the mediation of money supply and demand. Shanxi draft banks managed the exchange business in nationwide and controlled the different ground settlement.Compared with the former, the old-style banks'main financial function was the "comprehensive fund settlement". To combine the local settlement and different ground settlement effectively.The old-style banks'"comprehensive fund settlement" mechanism achieved mainly through the old-style banks'network.This complex fund settlement network is the main performance of the bank's characteristics of "modernization".The old-style banks Fund settlement and Shanxi draft banks exchange network is very different. Shanxi draft banks exchange business mainly through the establishment of a semicolon.Every Shanxi draft banks according to their own business demand to build the network independently. There are very few business connection between Shanxi draft banks, the competition relations were the main relationship.The old-style banks is very different. The fund settlement network's nodes of the old-style banks constitute with cities. The local settlement was the first step.In various commercial port internal the old-style banks according to the tendency of business is different, the old-style banks of" West street" deposit payments, exchange on the business, and the old-style banks of "East street" focusing on the speculative business. The old-style banks of foreign settlement have the both sides at the same time.The old-style banks' gang, made between each bank have distinction to have connection again already.Regular banks, retail banks and traditional exchange banks were different financial institutions, also has their respective business area.The old-style banks helped each other through the the relationship of "Kaojia"and "Chuanhuanjia", maintain the industry as a whole development. Each commercial port gradually become the principal which had a comprehensive financial function.Between the intercity, some of the old-style banks in other cities set up a semicolon, and communicated each other with the remittance business;Some of the old-style banks communicated other cities by buying and selling of financial instruments through the financial markets.The old-style banks is close-knit and support each other in the business.In his later period they were more likely to use the port between the formation of the national financial markets play a role.Compared with banks exchange network, the result is clear.After the late Qing dynasty, because of the need for fiscal consolidation financial government began to set up the modern bank system,and hope that through the effective control of the modern bank system, and further integrator social financial resources.However, the introduction of new bank system is very limited.The period from the late Qing dynasty to the Beiyang government, and the national government period, the construction of the modern bank system went through only twenty or thirty years, it is difficult to happen overnight.For a long time, China's economic development is not to support the development of modern financial model.In other words, China's modern bank system had a certain development trend in advance.More significantly,since the late Qing dynasty,successive governments treat bank development policy is to solve the problem of finance,then will the development of banks and governments tax, treasury, military and political borrowing.The government with high storage rates attract investment bank bonds and government borrowing,and the intention of leading bank funds with policy is very obvious.The result is that the banks were helpless to China's modern commercial development and ordinary commercial exchange and social need financial can't get enough support from the banks. So the traditional financial institutions and modern banks coexist in a long time,and keeped a competitive relationship.Since the late Qing dynasty, successive governments have asked the old-style banks to comply with the banking act, and obeyed the government management, the management of the old-style banks to issue money also hasten is strict.Especially since the1930s, the Nanjing national government implement financial reform, accelerated the decline of the old-style banks.The whole of China's financial landscape transform from spontaneous financial form to control type financial model which dominated by the government. |
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