£20 British Pounds Crisp Gold Loan Chinese Government 5% dated 1912 - With Pass-co Authentication - Uncanceled Bond from China
Inv# FB5177 Bond
20 Pound, 5%, Gold Bond. Known as the "Crisp Loan" of 1912. 28 coupons remain. The Crisp Gold Loan of 1912 was originally for the sum of £10,000,000, but only £5,000,000. was issued. The loan was: " authorized on the 14th day of July, 1912, by the Premier and the Minister of Finance of the Government of the Republic of China and by special order dated 2nd day of September, 1912 of the President of the Republic of China duly notified on the 4th day of September, 1912, by the representative of the Chinese Government in London to His Majesty's Secretary of State for Foreign Affairs and on the 4th day of September, 1912, by the President of the Republic of China to the British Minister in Pekin.”
The loan was floated by C. Birch, Crisp & Co. in London at 95% on behalf of the British & International Investment Trust, Ltd. Other financial institutions acting as agents for the loan were the British Bank of Foreign Trade, Lloyds Bank and the Chartered Bank of India, Australia and China. Bearer bonds were issued in the following denominations: £20, £100, £500, and £1,000.
Article relating to this Chinese item: https://www.bloomberg.com/news/articles/2019-08-29/trump-s-new-trade-war-weapon-might-just-be-antique-china-debt
James Aratoon Malcolm, born in 1868, was a British-Iranian Armenian financier, arms dealer, and journalist. In early 1916, he was appointed by George V of Armenia as one of five members of the Armenian National Delegation to lead negotiations during and after the war, serving as the primary representative in London, while the other four members were based in Paris. He held the position of Chairman of the Royal Thames Yacht Club and was a founding member of the British Empire League in 1894.
In recognition of his contributions, he was awarded an OBE in 1948. Malcolm was the son of Aratoon Malcolm from Bushehr in Qajar Persia, a family that had resided in Persia since before the Elizabethan era, engaged in shipping and commerce, and had served as treasurers to British Missions to the Shah of Persia, maintaining connections with prominent financial families in the region, including the Sassoons. He moved to England at the age of 13 in 1881 for his education, under the guardianship of Albert Sassoon, and formed a friendship with Albert Goldsmid during his youth. He received his education at the private Herne House School in Margate, Kent, before attending Balliol College, Oxford from 1886 to 1889. After completing his studies, he launched a political-financial newspaper in London and later became one of the founders and editors of the Hayastan Daily during the Armenian resistance amid the Armenian Genocide.
His career in arms dealing commenced with an offer to supply 1,000 sharpshooters for service in Southern Africa, and he outfitted Major Albert Gybbon Spilsbury's Tourmaline yacht for its controversial 1897 expedition to Mogador, Morocco. As a public works contractor, he proposed financing the Baku aqueduct, the longest water conduit in Europe, which was ultimately funded by Zeynalabdin Taghiyev, as well as extensions to the London Docks and the Canadian Trent–Severn Waterway. In 1912, he negotiated the £5 million Crisp loan on behalf of the Chinese government, led by Charles Birch Crisp, for the new Republic of China.
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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