Chapter

Beaukeequa and Family 1726–1758

Paul A. Van Dyke

in Merchants of Canton and Macao

Published by Hong Kong University Press

Published in print December 2012 | ISBN: 9789888028917
Published online January 2013 | e-ISBN: 9789882208650 | DOI: http://dx.doi.org/10.5790/hongkong/9789888028917.003.0009
Beaukeequa  and Family 1726–1758

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Beaukeequa's story is exceptional among his peers. None of his contemporaries came close to changing the system in their lifetimes to the extent that Beaukeequa managed to do, unintentionally, after his death. It is largely owing to the debts he left behind that the triple alliance formed in 1758 and gained control over 38 percent of the market. This event, in turn, led to the establishment of the Co-hong and further shrinking of the merchant ranks. A new tax was introduced to pay Beaukeequa's imperial duties that were in arrears, which laid the precedent for the consoo fund that was later established. These additions and changes to the trade may have come about anyway, in due course, but probably not at this time and certainly not with the same urgency of purpose or intensity of enforcement as appeared after Beaukeequa's failure.

Keywords: bankruptcy; commerce; political reforms; China; taxes

Chapter.  5811 words. 

Subjects: Asian History

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