[
    {
        "id": 213882,
        "series_id": 26,
        "series_slug": "histsyn-rashkb-journal-engine",
        "series_title": "RASHKB Journal 皇家亞洲學會香港分會學刊",
        "series_use_hku_proxy": false,
        "document_key": "RAS-1996",
        "page_number": 234,
        "title": "RAS-1996",
        "content_text": "208\n\nWhen the Chinese in Hong Kong representing other districts in China saw that the power in Canton was drifting into the hands of the Sye Yup [Siyi] Association, they organized societies of their own, preventing the Sye Yup [Siyi] Association from monopolizing political influence in Canton.\n\nOne consequence was that the number of regional chambers in Hong Kong was increased from two in 1909 to sixteen in 1913, and to twenty-four in 1920. Besides, the Governor also supported the establishment of a large association in the colony as \"an effort to hold all these societies [regional associations] into one society... to break the power of the Sye Yap [Siyi] Association\". This association was but the Chinese General Chamber of Commerce. The Governor specified that it was a gentleman called Liu Zhubo (1), who became the first chairman of this Chamber that he found trustworthy. It is to this Mr. Liu, and the leadership group with which he was affiliated that we now turn.\n\nLiu and his associates were a new generation of western-educated Chinese leaders. To illustrate the nature of this group of social leaders, I cite Liu Zhubo and Ho Tung (He Dong)'s personal histories. Both Liu and Ho were born in the China town of Hong Kong and both had very poor family backgrounds. They were raised by their widowed mothers. Ho Tung, for example, was the eldest of four brothers, who had different fathers. The four brothers shared the same surname only because they adopted their mother's family name. Ho Tung himself was a Eurasian and was always excluded by Chinese circles in the colony. But like Liu, he managed to gain a scholarship to study at the government-supported Queen's College and turned out to be an active member of the Alumni Association. After a brief career serving as instructors of the College, Liu and Ho were employed as compradores of Lapack Co. Ltd. and the Jardine & Matheson Co. Ltd., respectively.\n\nIn business terms, these new leaders were closely connected with the Hong Kong and Shanghai Bank, as well as with the Hong Kong government. I cite one example to illustrate this point. In 1914, Liu Zhubo and Ho Tung established The Da You Bank (The Bank of Great Wealth) with their Eurasian friend, Lo Changzhao. In the same year, the three men were granted an opium monopoly within the Colony. All three partners were graduates of Queen's College and were active",
        "txt_file_path": "txt/dfo323lmgvd/RAS-1996.txt",
        "external_url": "https://digitalrepository.lib.hku.hk/catalog/3n209j641",
        "rank": 0
    },
    {
        "id": 213883,
        "series_id": 26,
        "series_slug": "histsyn-rashkb-journal-engine",
        "series_title": "RASHKB Journal 皇家亞洲學會香港分會學刊",
        "series_use_hku_proxy": false,
        "document_key": "RAS-1996",
        "page_number": 235,
        "title": "RAS-1996",
        "content_text": "209\n\nmembers 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\".\n\nThe 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.\n\nAs 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.\n\nFollowing 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.\"\n\nAccording 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\".",
        "txt_file_path": "txt/dfo323lmgvd/RAS-1996.txt",
        "external_url": "https://digitalrepository.lib.hku.hk/catalog/3n209j641",
        "rank": 0
    }
]