Page 126 - Chinese SIlver By Adrien Von Ferscht

This created was a re-arrangement of the trading furniture as it were; the British became
effectively the new Cohong by being granted Most Favoured Nation status not exclusively
in Canton but also the other treat ports. In addition, the British now had the new Crown
Colony of Hong Kong.

It is important, however, to always remember that silver making in China had a long
tradition of 1200 years - it was not a exclusively a bi-product of the China Trade; as a
definitive silver category Chinese Export Silver, it came towards the end of a long heritage.

The Cohong disbanded and either retired or acted as consultant facilitators to foreign
merchants except for Houqua who continued his close relationship with American
merchants. Houqua’s great success was at least due in part to his friendship with the
Boston clan but the Bostonians owed Houqua at least as much. Not only did he aid every
family representative who came to China, he continued to favour some long after they
returned home by investing money in American ventures in partnership with them. Houqua
owned 10% of Russell & Company, a company that invested heavily in railroads including
the Philadelphia, Wilmington and Baltimore Railroad and railroads from Chicago to the
Mississippi.

Houqua died in 1843, a year after the Treaty. A clipper ship was built in New York and
named in his honour in 1844.