You are here

Back to top

The Chinese Cornerstone of Modern Banking: The Canton Guaranty System and the Origins of Bank Deposit Insurance 1780-1933 (Legal History Library / Studies in the History of Private La #14) (Hardcover)

The Chinese Cornerstone of Modern Banking: The Canton Guaranty System and the Origins of Bank Deposit Insurance 1780-1933 (Legal History Library / Studies in the History of Private La #14) Cover Image
$232.70
Special Order

Description


Modern bank insurance is traced to its roots in The Chinese Cornerstone of Modern Banking: The Canton Guaranty System and the Origins of Bank Deposit Insurance 1780-1933. Frederic Delano Grant, Jr. provides new understandings of the Canton System, collective responsibility for debt at Canton, and the history of deposit insurance.

The Canton Guaranty System inspired radical reform in New York in 1829 - the ancestor of all modern deposit insurance. Yet it was never the success imagined, and soon failed. In the Opium War, the Chinese government as implicit guarantor was forced to pay its debts in full on 23 July 1843. The afflictions of the Chinese system, including moral hazard, too big to fail, and unenforced laws, remain familiar today.

About the Author


Frederic Delano Grant, Jr., J.D. (1983), Boston College Law School, and Ph.D. (2012), Leiden University, is a Boston, Massachusetts lawyer who has written extensively about the business and legal history of China's maritime foreign trade.

Product Details
ISBN: 9789004276550
ISBN-10: 9004276556
Publisher: Brill - Nijhoff
Publication Date: September 29th, 2014
Pages: 362
Language: English
Series: Legal History Library / Studies in the History of Private La