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Premium ROUILLAC
320
-
[Securities Collecting]
See original version (French)
320
-
[Securities Collecting]
See original version (French)
Estimate €300 - €600
Voluntary lot
Description
[Securities Collecting]
Bearer bonds, China, 1913
14 bearer bonds of 505 francs (or 20 pounds sterling) each, with their respective coupon sheets, issued by the Government of the Republic of China in 1913 as part of the loan entitled: “Five Per Cent. Reorganisation Gold Loan of 1913’ (Chinese 5 per cent Reorganisation Gold Loan of 1913), marketed by the Banque de l’Indochine in Paris
Very good condition, slight crease, 46 x 33 cm
In 1911, China’s last imperial dynasty (the Qing) collapsed, giving way to the fledgling Republic of China, presided over by General Yuan Shikai. The country was then in the throes of a financial and political crisis. To restructure the administration, pay the army and repay previous debts, the new government negotiated a massive loan of 25 million pounds sterling.
This loan was financed by a consortium of international banks from five major powers (the United Kingdom, Germany, France, Russia and Japan). The loan was secured against revenue from the ‘gabelle’ (the Chinese salt tax).
Enclosed: 4 bearer shares worth 4,000 francs in Universal Neptune Cie (formerly the Société minière du Sud-Ouest de la France), with their coupon stubs.
See original version (French)
Auto-translation. Refer to original language for legal validity.
Pictures credits: Contact the Auction House
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