the Hong Kong and Shangai Banking Corporation 19th Century history in Penang and Singapore

Not many Malaysian and Singaporean know that Hong Kong and Shangai bank once printed their own banknote which i am not surprised because it is extremely rare to find one.

Here is a brief history on the bank:

All information is from Malaysia, Singapore & Brunei Banknote & Coins book by K.N. Boon

In April 1865, the Hong Kong and Shangai Banking Corporation opened it branches for business both in Hong Kong and Shangai. Financial disasters in 1865-1866 however caused some of the banks to collapse. In 1866, six out of the eleven banks in Hong Kong stopped making payment. When the financial typhoon finally passed, Only five foreign banks were left in China :

• The Chartered Bank of India, Australia, and China

• Chartered Mercantile Bank of India, London, and China

• The Oriental Bank Corporation

• The Hong Kong and Shanghai Banking Corporation.

However, all the exchange banks in China progressed very slowly after the depression of the sixties until the opening of the Suez Canal and the extension of the telegraph.

The bank was established in Singapore, and started to print their banknotes valued at 5, 10, 25, 50, 100, and 500 dollars from December 1881 till 1909. The Pulau Pinang branch was open in 1884 but was not granted permission to print banknotes until 1885. Today, only the 5 and 10 dollars banknotes of the Singapore branch have been found. The bank started to open other branches from 1909. In 1921, the Straits Settlement Government stopped the printing of banknotes by the bank and started to issue the Straits Settlement Government's banknote. During the Japanese occupation(1941~1945), the branches were occupied by the Japanese Bank namely " The Nampo Karhatsu Kinko" (Southern Bank) and "Yokohama Specie Bank".

Before 1877, the banks in Singapore were represented by an agency. Its work was limited to Exchange, Deposit, and Remittance. In 1877, this bank decided to upgrade its status to a branch. Herbert Cope was appointed Manager. He noticed the short supply of paper money within the Straits Settlement. He suggested the issuing of banknotes, and it was granted by the Straits Government by the end of 1877. However, in 1879, Treasury from London warned that sure issue could only be legal if the issue is made by a bank holding the status of a "branch". This was finally approved in 1881. In December 1881, the bank launched its first banknotes for the Straits Settlements. The Bank Collection had its full specimen of the notes, in dominations of 5,10,25,50,100 and 500 dollars notes. Each set of notes was already printed for signature by the Agent. Cope must have had them printed before the bank was approved for the status of a branch.

HSBC Singapore banknote

HSBC 5 dollars issue for Penang usage :

HSBC 25 dollars issue for Penang usage :

HSBC 50 dollars issue for Penang usage:

HSBC 5 dollars issue for Singapore usage:

HSBC 10 dollars issue for Singapore usage:

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