Prof. Lin Man-houng Gave a Speech on Silver, Monetary Revolution and Qing Dynasty
Professor Lin Man-houng is a research fellow at Institute of Modern History of Academia Sinica. In comparison with other historians, she is particularly interested in the total historical study from the perspective of some economic issues. The issues she has dealt with include treaty ports and hinterland in both Chinese mainland and Taiwan in the late Qing period, Late Qing perceptions of opium and its domestic supply, the connection between Latin American Independence Movement and nineteenth-century China through silver, Taiwanese merchants’ Asia-Pacific commercial network. (The introduction of Prof. Lin: http://www.mh.sinica.edu.tw/MHWeb/UserDetail.aspx?userID=69&mid=16&tmid=2&lang=enUS)
Her speech summary is as follows. To begin with, the metal for currency melting of Qing dynasty depended on silver imports and there was not monetary authority. Then, in 1750, the economy of Qing globalized. Around 1875-1880, silver imports slumped, leading to a sharp contracting monetary base thus an economic crisis. Since then China’s economy has had resilience and matured, but there were still no independent monetary policy implemented. The government of Qing attempted to solve the silver import crisis but failed. Eventually, Lin Man-hong considered it unrealistic to resume the metallic standard since the past Chinese Credit Money Standard was doubtful.
Her speech could be download here: Prof. 林滿虹’s Speech