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The Provision of Funds for the East India Company's Trade at Canton during the Eighteenth Century
Published online by Cambridge University Press: 15 March 2011
Extract
The dominating factor in the China trade for over two centuries was the problem of “laying down the dollar”. The dollar was not the currency of China; but during those two centuries—positively to 1834, and practically to 1857— it was the token by which the pound sterling and the woollen cloths of England were converted into the taels of silver and the silks and teas of China; and on the answer to the question whether the dollar delivered to the Company's treasury at Canton had cost to lay down four shillings, or five, or six, might depend the degree of profit on the round voyage.
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- Copyright © The Royal Asiatic Society 1922
References
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