British Museum blog

A Viking ship on a Chinese note

banknoteHelen Wang, curator, British Museum

‘There are Viking ships on Chinese banknotes’ I said to Gareth Williams, curator of the BP exhibition Vikings: life and legend, thinking that I could easily research them before the exhibition. After all, these notes were issued in the 1920s by the Sino-Scandinavian Bank, one of the many foreign and joint-venture banks in China at the time. But it has turned out to be more demanding than I expected, thrown up a number of interesting questions along the way, and what follows is by no means the full story.

5 yuan note issued by the Sino-Scandinavian Bank (CM 1979,1039.18)

5 yuan note issued by the Sino-Scandinavian Bank (CM 1979,1039.18). View a larger version

The Sino-Scandinavian Bank was given its charter by the Chinese government on 21 July 1921, and began operating on 7 January 1922. It was actually a Chinese-Norwegian joint venture, with the larger part of the funding coming from Chinese sources, and a smaller part from Norwegian investors. The Bank’s first notes are dated 1922, but the majority that have survived (about 30 different types) were probably issued after 1924. The bank appears to have gone bankrupt sometime in 1926 or 1927. Most of the information we know about the Sino-Scandinavian Bank comes from Bjørn R. Rønning’s unpublished master’s thesis ‘Sino-Scandinavian Bank (1921-ca.1927) En norsk bank i Kina?’ (Hovedoppgave i historie ved Universitetet i Oslo, våren 1979). Unfortunately, my Norwegian’s not up to reading it in its entirety in the original, and for the time being I’m indebted to Jan Eriks Frantsvåg’s English summary and images on his website.

Like most of the paper money issued by foreign and joint-venture banks in China in the late nineteenth and early twentieth century, this note aims to serve both Chinese and foreign users. At first glance, the Chinese and English sides look bilingual. But a closer look reveals lots of things that don’t quite add up.

Let’s start with the name of the bank. In Chinese this reads Hua Wei yinhang 華威銀行. This translates as the Sino-Norwegian Bank (or Chinese-Norwegian Bank). The first character hua 華 (magnificent) is often used when referring to China. The second character wei 威 (power) is from the Chinese term Nuowei 挪威 (i.e. Norway). The last two characters yinhang 銀行 are the usual term for ‘bank’. It’s interesting that the Chinese and English names aren’t an exact match. I wonder who decided the two names? The Chinese name is a more accurate reflection of the nationality of the investors. On the other hand, wei is much more meaningful (and auspicious) than any of the other characters in Sikandinaweiya 斯堪的納維亞, which is a bit of a mouthful in Chinese. But in English, the Sino-Scandinavian Bank sounds better than the Sino-Norwegian Bank, even if it is more ambitious in meaning.

The images are different too: a scene of Beihai Park in Beijing on the Chinese side, and the Viking ship on the English side. Beihai Park was once an imperial garden, but opened to the public in 1925 (according to the park’s website), three years after the date printed on the notes. The Viking ship was chosen to represent Norway/Scandinavia, an iconic symbol that works very well here (much better than a polar bear, which, according to Jan Eriks Frantsvåg, was one of the motifs originally planned for these notes.

The denomination is also interesting. The Chinese side has ‘five yuan in national currency’ printed in brown below the image, and the English side simply ‘five yuan’. The five black rosettes overstamped just below the denomination obscure the letters PEKING, and the black overstamps on the images inform us that there was a change in use to ‘Yungchi currency’ (in Chinese: ‘for circulation in Yungchi’). Yungchi (pinyin: Yongqi) literally means ‘Yong 7′ and refers to an administrative region encompassing Yongping and six other counties in Hebei province in north China. The name of Changli, one of those counties, is overstamped in black above the image, but only on the Chinese side. Yungchi and ‘Yungchi currency’ are not familiar terms, and it’s interesting to see such local references on a joint-venture banknote.

As we might expect, given the different cultural traditions, the English side has personal signatures in black, and the Chinese side has red seal impressions of authority. However, while it was standard practice to put seal impressions on notes issued by Chinese banks, it was not consistently the practice to do so on notes issued by joint-venture banks.

The signatories were J.W.N. Munthe and Fartsan T. Sung, who were very well connected with the Chinese military and government. Johan Wilhelm Normann Munthe (1864-1935) was Norwegian. Born in Bergen in 1864, he moved to China in 1886 and spent the rest of his life there. He worked for the customs service, and eventually became a general in the Chinese army. He participated in the Sino-Japanese War (1894) and the Siege of Peking (Boxer Rebellion) in 1900. He also collected Chinese art and antiquities, many of which he donated to the Vestlandske Kunstindustriemuseum in Bergen.

Fartsan T. Sung (pinyin: Song Faxiang宋發祥 (1883-?) was Chinese. Born in Fujian, he went to the USA in 1900, and studied science at Ohio Wesleyan College and Chicago. After returning to China in 1907, he held a number of important government positions before the 1920s. He was Technical Expert of the Ministry of Finance, Co-Director of the Ministry’s Assaying Office, Director of the Soochow (pinyin: Suzhou) Mine, Co-Director of the Bureau of Printing and Engraving, Inspector General of Mints, Director-General of the Nanking (pinyin: Nanjing) Mint, private English secretary to President Feng Kuo-chang (pinyin: Feng Guozhang 馮國璋, 1859-1919) and political advisor to the President’s Office. He was a ‘councillor-at-large’ of the Ministry of Finance in 1920, and again from 1922-1924, during which time he was elected a Member of the Commission for the Consolidation of Domestic and Foreign Debts (1923). He co-founded the Sino-Scandinavian Bank in the spring of 1921 and became manager of its Peking office in 1924. From 1928 he was serving in Chinese consular offices overseas: in Southeast Asia between 1928 and 1937, and in Vienna between 1938 and 1940. I haven’t been able to trace him beyond this.

There are a lot of interesting things about this banknote that don’t quite add up at the moment, not least why we have the signatures of two extremely well-connected men on notes being used in a very local area. It’s curious that the Sino-Scandinavian Bank does not appear in the beautifully illustrated bilingual catalogue Currencies in Old Shanghai (老上海貨幣, Shanghai, 1998). And even more curious that the great expert on Chinese banking, Eduard Kann (1880-1962) did not include the Sino-Scandinavian Bank in his list of foreign and joint-venture banks in China. Kann started his career in a British bank in China in 1901, moved to the Russo-Asiatic Bank, the French Banque Industrielle de Chine and the Chinese-American Bank of Commerce before becoming an independent bullion-broker in Shanghai in the 1930s (the British Museum acquired his superb collection of almost 200 silver ingots in 1978), so we might expect him to have heard of it.

Perhaps there is more to this Chinese note with a Viking ship than meets the eye?

The BP exhibition Vikings: life and legend is at the British Museum until 22 June 2014.
Supported by BP
Organised by the British Museum, the National Museum of Denmark, and the Museum für Vor- und Frühgeschichte, Staatliche Museen zu Berlin
Tweet using #VikingExhibition and @britishmuseum

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Researching ‘old’ as well as ‘new’ kinds of money in West Africa

Documents from 1931-33Sophie Mew, Project Curator, Money in Africa

I’ve been working on the Money in Africa research project to understand how coin and note currencies were introduced to the coastal regions of Africa and how their usage had spread widely by the close of the nineteenth century.

With two former British West African colonies, the Gold Coast (what is now known as Ghana) and Sierra Leone (one of the earliest British settlements on the coast), most of my research so far has been carried out at the National Archives in London, in Accra (Ghana) and in Freetown (Sierra Leone). In each place, I’ve consulted documents relating to a wide range of accounts about currencies. These included, for example, colonial despatches written by the governors of Sierra Leone and the Gold Coast and sent to the Secretaries of State in London; records that were created by and filed in the Treasury department in London, as well as diaries from merchants trading to West Africa.

Documents from the 1930s

Documents from 1931-33, PRAAD records

One of my early finds was a series of detailed instructions for traders on an expedition to the west coast of Africa in 1796. The Governor of Freetown at the time requested that the traders gather as much information as possible to understand what it was that locals preferred to trade with, at each stage, and at what value. At the National Archives in Ghana in June 2012, I found a series of similar despatches that were distributed to District Officers in 1944. Questions related to coins and notes and what they were used for, as they sought to gather information on the preferences of “the man on the street”. Responses suggested, for example, that people who could read preferred notes while labourers preferred coins. The 1/10th shilling was used as a counter for gambling in Obuasi, and notes could be inconvenient: the “average cloth wearing African was used to carrying his money tied up in a corner of his cloth with the result that notes became crumpled and torn, got wet and became pulp.”

Inside the Sierra Leone National Archives at Fourah Bay College,

Inside the Sierra Leone National Archives at Fourah Bay College,

I took my first trip to Sierra Leone in January 2013 where I researched the holdings of the branch of the National Archives, located on the University Campus (Fourah Bay College, founded in 1827, is the oldest university in West Africa). At the top of a treacherously steep hill overlooking the city, I consulted lists of annual stipends that the British colonial government paid to local chiefs in exchange for leasing their land, and trawled through records of fines and fees paid to the colonial police to find out what currencies people were using and when.

In conjunction with my archival research for the Money in Africa project, I was also seeking information about the use of mobile money in Sierra Leone as part of a redisplay of an exhibition panel in the Citi Money Gallery. This display panel addresses the future of money and new technologies, and is updated every six months to showcase new studies.

As I questioned members of the public in Freetown, friends I had made, and staff members of mobile money companies, I understood the wariness that people have in trusting new kinds of money and the difficulties with trying out alternative systems. What I found fascinating here was that similar justifications for the practicality of using new coins and banknotes in the nineteenth century were being repeated to me within the contexts of mobile money in Sierra Leone today.

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Find out more about the Money in Africa project

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