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| Russo-Chinese Bank 1 Mexican dollar note of 1901 |
One Mexican Dollar 1901 Russo-Chinese Bank, Shanghai branch, P-S536a.
Face in English and back in Cyrillic. Printed signatures with additional hand signature at lower right.Obverse: $1 RUSSO-CHINESE BANK promises to pay the Bearer on Demand at the Branch of the Bank in Shanghai ONE MEXICAN DOLLAR. VALUE RECIVED. RUSSO-CHINESE BANK. SHANGHAI
Reverse: $1 РУССКО-КИТАЙСКИЙ БАНК обязуется уплатить предъявителю сего, по его требованию, в отделении Банка в Шанхае ОДИН МЕКСИКАНСКИЙ ДОЛЛАР. стоимость получена. РУССКО-КИТАЙСКИЙ БАНК. ШАНХАЙ.
Russo-Chinese Bank
1 Mexican Dollar 5 Mexican Dollars 10 Mexican Dollars
50 Mexican Dollars 100 Mexican Dollars
The Russo-Chinese Bank
From the beginning, the Russo-Chinese Bank was established as a joint-venture bank representing Russian interests in China. One year after its founding (1895), the Russo-Chinese Bank received from the imperial Chinese government a contract for the construction of the Chinese Eastern Railway in Manchuria. This venture was so successful that by the end of 1902 the bank had become the second largest foreign bank in China. The total of all British bank investment, including the Hong Kong and Shanghai Banking Corporation, added up to 33 percent of the foreign investments in China, while the Russo-Chinese Bank alone accounted for 31.3 percent. Different roles were assigned to the bank's principal offices - Peking being basically engaged in political activities and Shanghai in the mercantile exchange business.
Prospering under its railroad charter, the bank issued a series of Mexican dollar denominated notes in 1901 and tael and dollar notes in 1907. As soon as traffic was opened on the Chinese Eastern Railway it began collecting fares for passengers and freight in Mexican dollars. Once the line became fully operational, only roubles were accepted. A large Russian colony grew up in the concession zone along the railway. It was only natural that new trade and industrial enterprises arose from this migration and that the bank served to assist in the extensive development of this new industry and commerce.
The Russo-Chinese Bank suffered greatly after the Russo-Japanese War (1904-5). Having actively financed Russian military operations, the bank lost most of the funds it had accumulated prior to the war. Business declined sharply. To survive, the bank merged with several other imperial Russian banks, emerging as the Russo-Asiatic Bank.