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The Golden GhettoThe American Commercial Community at Canton and the Shaping of American China Policy, 1784-1844$
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Jacques M. Downs

Print publication date: 2014

Print ISBN-13: 9789888139095

Published to Hong Kong Scholarship Online: May 2015

DOI: 10.5790/hongkong/9789888139095.001.0001

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The Dominant Firms

The Dominant Firms

Chapter:
(p.142) (p.143) 4 The Dominant Firms
Source:
The Golden Ghetto
Author(s):

Jacques M. Downs

Publisher:
Hong Kong University Press
DOI:10.5790/hongkong/9789888139095.003.0007

Chapter 4 explains the rise of the firms of influence in China. One of the most remarkable figures was Cushing who made his firm Perkins & Co prosper. A major reason for his successes was with his association with Howqua, the wealthiest Chinese trader. Other important firms include Russell and Co, a commission house that later absorbed Perkins & Co. It weathered numerous crises and faced challenges both from within the firm and politics from the outside, but until the end of the era, it remained the largest and strongest American house in China, and its businesses only came to a close in 1891.

Keywords:   China, China Trade, American, Opium, First Opium War, Trade, Sino-US Treaty of Wanghia, Opium smuggling, American foreign policy in China

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