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Books > Law > Jurisprudence & general issues > Legal history
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The Chinese Cornerstone of Modern Banking - The Canton Guaranty System and the Origins of Bank Deposit Insurance 1780-1933 (Hardcover)
Loot Price: R4,381
Discovery Miles 43 810
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The Chinese Cornerstone of Modern Banking - The Canton Guaranty System and the Origins of Bank Deposit Insurance 1780-1933 (Hardcover)
Series: Legal History Library / Studies in the History of Private Law, 14/6
Expected to ship within 18 - 22 working days
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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.
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