Publisher's Synopsis
Excerpt from Chapters and Documents on Chinese National Banking
The decline of the Shansi bankers is small cause for regret. They understood the use of credit documents, but not the use of credit, which was sometimes lavishly distributed, and then suddenly withdrawn when most needed.3 Wise in their own day, they con stituted a dangerously conservative element in Chinese banking. The bankers failed to anticipate the light of a new day. Had they organized a big private bank on strictly modern lines fifteen years ago, with a policy of service for patrons, iron discipline of employees and branches, and publicity in all, the men of Shansi might easily have held their old-time supremacy.
The Opportunity is gone now; for the Bank of China and the Bank of Communications, despite their mani 'fold shortcomings, have appropriated the field with their numerous branches and acquired a joint control of the government balances.
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