In the course of conversation with a representative of the North China Daily ews, one of our oldest fellow-residents was asked to give what he thought were the changes which had taken place in business methods in Shanghai since the early days, First of all, he replied, in the native banks. In dealing with Bills it was advertise that they had them to sell up to frequent occurrence for the hongs to
a certain amount. The Hongkong and Shanghai Bank was not opened in Shanghai until some years after its predecessor, although several other banks had agencies here, and were concerned in the spirited land' speculation which was carried on at one time. Barter was usually employed when buying silk or tea from the natives, piece-goods in large quantities being em: ployed for this. The present mode of indenting for goods for Chinese was not dreamed of, and as for what is known as the "muck and track" trade, it is quite of.recent growth. The old Carolus dollar was the currency, until displaced by its Mexican rival, and in these days of depreciated silver—or appreciated gold—it is curious to note that in 1854-5 the exchange rate for the old Spanish dollar was as high as 7s. 11d.
Text read from the printed page and cleaned; old type leaves the occasional error.