Read The Rise and Fall of a Public Debt Market in 16th-Century China

The Rise and Fall of a Public Debt Market in 16th-Century China

Wing-kin Puk

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Description:During the Ming dynasty (1368-1644), the government invited merchants to deliver grain in return for salt certificates with which merchants drew salt as reward. The salt certificate therefore represented a national debt, denominated in salt, the government thereby owed merchants. A speculative market of salt certificates was created in Yangzhou and brought into being powerful financiers in the early 17th century. The government, financially hard pressed, abolished the speculative market of salt certificates by franchising these financiers in return for their hereditary obligation to pay salt certificate surcharge. China was therefore deprived of a possibility to develop a public debt market. This story is a testimony to Fernand Braudel’s argument of the "nondevelopment" of Capitalism in China.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with The Rise and Fall of a Public Debt Market in 16th-Century China. To get started finding The Rise and Fall of a Public Debt Market in 16th-Century China, you are right to find our website which has a comprehensive collection of manuals listed.
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Pages: 210

Format: PDF, EPUB & Kindle Edition

Publisher: BRILL

Release: 2015

ISBN: 9789004306400

Description: During the Ming dynasty (1368-1644), the government invited merchants to deliver grain in return for salt certificates with which merchants drew salt as reward. The salt certificate therefore represented a national debt, denominated in salt, the government thereby owed merchants. A speculative market of salt certificates was created in Yangzhou and brought into being powerful financiers in the early 17th century. The government, financially hard pressed, abolished the speculative market of salt certificates by franchising these financiers in return for their hereditary obligation to pay salt certificate surcharge. China was therefore deprived of a possibility to develop a public debt market. This story is a testimony to Fernand Braudel’s argument of the "nondevelopment" of Capitalism in China.We have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with The Rise and Fall of a Public Debt Market in 16th-Century China. To get started finding The Rise and Fall of a Public Debt Market in 16th-Century China, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

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The Rise and Fall of a Public Debt Market in 16th-Century China

The Rise and Fall of a Public Debt Market in 16th-Century China

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