The Period Of The Republic Of America Bank Of Feng Department Of History Theory Of History

During the Republic of China, there were several Mei Feng banks. Among them, The American-Oriental Banking Corporation, The American-Oriental Bank of Szechuen and The American-Oriental Bank of Fukien were the important ones . They operate separately without attaching to each other.In the end of 19 century, the United States became strong in economy and expanded the overseas markets actively in order to seek its products sales. While China, being increasingly weak, got involved in the Capitalist World market. The trade between China and United States became prosperous. After the World War I broke out, the volume of trade between China and the United States increased much more sharply than ever before, as well as the demand for the financial institutions. Shanghai was the economic center of China, possessing the unique investing environment. Raven, who came from the US, profited a lot through operating landed estate. He founded The American-Oriental Banking Corporation in 1918 in order to cater to the demands of the market. This bank issued paper money, operated savings^ loansN exchanges> negotiable securities and other commercial bank businesses, and became more and more prosperous day after day. This bank contacted much less with other financial institutions, invested a large amount of money in landed estate and foreign exchanges. It closed down to put in order in 1935 because of the effects of the American silver policy.After founding The American-Oriental Banking Corporation, Raven founded the Sino-foreign joint venture in Sichuan and Fujian separately.These two banks were both founded in 1922. The American part possessed 52% of the capital stock, and The China part possessed 48%. They operated ordinary financial bank businesses. The managers of The American-Oriental Bank of Fukien were from different countries. They wrangled endlessly because of the differences between cultural concepts and vital interests. But the bank profited every year, except for the first year. In 1927, affected by the current political situation, The American-Oriental Bank of Szechuen was reorganized as pure China national capital bank. The American-Oriental Bank of Fukien also closed down in 1927, then the debt dispute happened between China and the US.After The American-Oriental Bank of Fukien was reorganized, it was affected successively by the two different political powers: Sichuan warlords and the National Government. Besides operating savings, loans, and exchanges, it began to accept paper money, business debenture and operate opium, and profited a lot from them. Its real strength got increasingly strong, and it became a steadily operating bank in Sichuan with good credit.In spite that these Mei Feng banks had more or less factors that disturbed the China's finance order, they activated China's finance and contributed to China's modern economic development objectively.