Everywhere the foreshore is always crowded with a fleet of native junks, displaying half mast be it a bundle of wood, a rice measure or a coal scoop, to show that their cargoes consisting of wood, rice, coal, etc., are for sale.
Either just on the concession, by permission of the consul, or in Chinatown immediately outside, are two or three general stores and butchers' shops, run by either Chinese, Parsees or Japanese, especially to supply the foreign community with groceries, bread, meat and other daily requisites.
No one carries money in his pocket, for the Europeans being but few in number are well known by sight, and any purchase is made by signing an I.O.U., or chit, for the amount necessary in dollars or cents. At the club you call for say two sherries and one bamboo (half sherry, half vermouth) and the waiter brings them, together with a small chit-book in which he has already written down your order in pencil, and this, after inspection, you simply sign or initial, when it is torn out and dropped into the till and you see no more of it until the end of the month, when your club bill comes in, supported by all the chits you have signed.
For the offertory, pencils and pieces of paper are distributed about the church, so that the congregation may easily write chits, which are folded up and dropped into the bag, to be presented at your house next day by the church coolie for payment. This system, though very convenient, is apt to prove something of a trap, for signing a chit is so much easier, and the amount appears to be so much less than if paying in hard cash, that when the monthly total is made up you are at first inclined to believe there must be some mistake; but alas! careful verification too plainly shows that you have signed for more than you had any idea of.
Amongst Europeans the currency employed is the silver dollar, now worth about one shilling and sevenpence though formerly rated at five shillings, together with a subsidiary coinage of fifty, twenty, ten and five-cent silver pieces, as well as coppers of one and two cents each.
The Chinese standard of value in universal use throughout the Empire is copper cash. A cash is about the size of a shilling and equivalent to one eighth of a farthing in value. Through the centre of each coin is a square hole large enough to admit a thick string. It is usual to thread cash, first into bundles of one hundred, each bundle being about the size and shape of a sausage, and then for ten bundles to be strung together in pairs, so that the full string of a thousand cash almost exactly corresponds to a double string of ten sausages. The value of this full string is about half-a-crown, and owing to its great weight is usually carried slung over the shoulder.
The tael, pronounced tale, is not a coin at all, but means simply an ounce (of silver). There are many kinds of taels, each of a different value according to the purity or touch of the silver, which is chiefly determined by the locality in which the metal is mined.
When a Chinaman sells native produce to a European he always keeps in mind its value in cash, and wants a corresponding value in dollars or taels, whatever the price of silver may happen to be. The same with wages of all kinds; the amount required in each case is based on what each individual requires in cash.
The whole monetary system, or rather lack of system, complicated by numberless local banks, each with its own issue of paper money, is so bewildering that European householders seldom bother about anything beyond dollars and cents, to which standard, for their especial benefit, all others are reduced, though always at a certain loss in the exchange.
Some of these concessions, which are in reality little English towns, have greatly prospered since their inauguration and are now centres of voluminous and increasing trade; but others, belying their initial prosperity, have stagnated, and appear to be gradually slipping back to the Chinese, who, in contravention of treaty ordinances, have been allowed to acquire property on them and reside there in rapidly-increasing numbers.