209
members of the Alumni Association. All of them had at one time or another worked as compradores for foreign firms; the two Eurasian families, Ho Tung and Lo Changzhao (E) had almost monopolized the compradoral posts of Jardines and the Hong Kong and Shanghai Bank up to the 1940s. Liu Zhubo, He and Lo's sons were at one time or another appointed Legislative Councillors of the Colony. When the First World War broke out in Europe, these three partners contributed a huge sum of money to the British Government for the purchase of an aeroplane. The plane, as requested by the donors, was named "Da You Bank of Hong Kong".
The wealth of this western-educated group did not derive from the joint-stock company. They owned their own native bank despite the fact that they were compradores in western firms. It seems likely that this was an attempt to avoid the disclosure of financial accounts as required by the company ordinance. As these Eurasian families monopolized the compradoral posts of many of the foreign firms, including the Hong Kong and Shanghai Bank, it is highly likely that capital was transferred between their accounts in the compradore offices and those in their private businesses.
As they had exclusive access to capital, they did not rely on a capital market in the same way as the overseas returning migrants did, though we cannot tell whether this capital market was governed by the invisible hand of the economy or the invisible hand of political intimidation, as the governor suggested.
Following the example of the Siyi men, Hong Kong-born, western-educated groups participated in the political arena in China. In 1913, the Governor reported to the Colonial Office that "several leading Chinese" in Hong Kong had informed him that they would welcome the reorganization of the administration of the Canton Province under "tactful and conscientious British supervision."
According to Liu Zhubo's proposal, a loan of 25,000,000 taels was to be raised in Hong Kong to redeem unsecured currency in Canton. In return, Liu requested of the Beijing Government the privilege of establishing a central bank in Guangdong "with a monopoly of the Provincial Government business". To guarantee the smooth functioning of this arrangement, Liu suggested "inviting the Government of Hong Kong".
209
members of the Alumni Association All of them had at one time or another worked as compradores for foreign firms the two Eurasian families, Ho Tung and Lo Changzhao (E) had almost monopolized the compradoral posts of Jardines and the Hong Kong and Shanghai Bank up to the 1940s Liu Zhubo, He and Lo's sons were at one time or another appointed Legislative Counicllors of the Colony. When the First World War broke out in Europe, these three partners contributed a huge sum of money to the British Government for the purchase of an acroplane. The plane, as requested by the donors, was named "Da You Bank of Hong Kong"
The wealth of this western-educated group did not derive from the joint-stock company They owned their own native bank despite the fact that they were compradores in western firms. It seems likely that this was an attempt to avoid the disclosure of financial accounts as required by the company ordinance As these Eurasian families monopolized the compradoral posts of many of the foreign firms, including the Hong Kong and Shanghai Bank, it is highly likely that capital was transferred between their accounts in the compradore offices and those in then private businesses
As they had exclusive access to capital, they did not rely on a capital market in the same way as the overseas returning migrants did, though we cannot tell whether this capital market was governed by the invisible hand of the economy or the invisible hand of political intimidation, as the governor suggested.
Following the example of the Siyi men, Hong Kong-born, western- educated groups participated in the political arena in China In 1913, the Governor reported to the Colonial office that "several leading Chinese" in Hong Kong had informed him that they would welcome the reorganization of the administration of the Canton Province under " tactful and conscientious British supervision.”
According to Liu Zhubo's proposal, a loan of 25,000,000 faels was to be raised in Hong Kong to redeem unsecured currency in Canton. In return, Liu requested of the Beijing Government the privilege of establishing a central bank in Guangdong "with a monopoly of the Provincial Government business" To guarantee the smooth functioning of this arrangement, Liu suggested "inviting the Government of Hong
No comments yet.
Private notes are available after approval.