2004 Fiscal Year Final Research Report Summary
International Banking Activities in Asia and the London Money Market 1870-1930
| Project/Area Number |
13430020
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| Research Category |
Grant-in-Aid for Scientific Research (B)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Economic history
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| Research Institution | Tohoku University |
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Principal Investigator |
SUZUKI Toshio Tohoku University, Graduate School of Economics and Management, Professor, 大学院・経済学研究科, 教授 (00139982)
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| Co-Investigator(Kenkyū-buntansha) |
AKAGAWA Motoaki Keiou University, Department of Commerce, Professor, 商学部, 教授 (60051603)
YAGO Kazuhiko Tokyo Metropolitan University, Department of Economics, Professor, 経済学部, 教授 (30242134)
KITABAYASHI Masashi Sapporo Gakuin University, Department of Commerce, Associate Professor, 商学部, 助教授 (60169878)
SUGAWARA Ayumu Tohoku University, Graduate School of Economics and Management, Associate Professor, 大学院・経済学研究科, 助教授 (10374886)
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| Project Period (FY) |
2001 – 2004
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| Keywords | London Money Market / International Bank / British Overseas Bank / Foreign Exchange Bank / Merchant Bank / Trade Finance / Foreign Exchange / International Gold Standard |
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| Research Abstract |
1.The Analysis of the Circulation of Funds at British Overseas Banks
The circulation of funds between the head offices and branches in the period from the 1850s to 1913 has been analyzed from the figures of the branch balance sheets at the Chartered Bank and the Chartered Mercantile Bank. The time series statistics complied from the trade goods between Britain and Asian countries have also been compared with the inwards and outwards exchange transactions of these two banks, and relations between the distribution of goods and the circulation of funds have been indicated. Furthermore, the causes of the sharp decline in silver price since the 1870s, and their actual effects on the assets and the fund position of British overseas banks have been examined. Although there has been a small number of the surviving records concerning the Oriental Bank Corporation, the most eminent British overseas bank of those days and bankrupt in 1884, its new record has been collected at the British National
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Archives and examined. The Hongkong Shanghai Bank's Hongkong branch new managerial records as well in the Inter-war period at the Shanghai Business History Center have been picked up and studied.
2.Relations between the London Money Market and the Activities of International Banks
Researches on bank histories published by British overseas banks and London clearing banks, and on concerned financial journals have been carried out. On this basis the various issues of existing studies have reviewed. The archival research on the relations between British overseas banks and the London clearing banks, the [London] City Bank and the London Joint Stock Bank, has been done and analyzed from a viewpoint of the London discount market. It has been revealed from this study that the role of London (head) offices is most important for the management of British overseas banks.
3.The Analysis of German and French Overseas Banks, and of their Local Activities
For German international banks, records concerning the Deutsche-Asiatische Bank, held at the Archives of the Deutsche Bank, have been investigated and collected. From these the activities of the Deutsch-Asiatiche Bank in the Shantung Province in China have been revealed ; for French international banks, the new records concerning the Banque de l'Indo-chine, the Comptoir d'Escompte and the France-Russo Banque have been pursued and their actual transactions in Asia have been studied. In particular, it has been confirmed that the record of the Franco-Russo Banque, held at the Japanese Foreign Office Archives, is useful ; for American international banks, the record of the International Banking Corporation, held at the Shanghai Business History Center, has been collected and examined. Less
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