TWO BOTANISTS, A FINANCIAL CRISIS AND BRITAIN'S FIRST EMBASSY TO CHINA

Abstract

This essay reveals a financial dimension to Captain John Blake and his son John Bradby Blake's involvement with China, namely, their participation in financing the Canton trade through predatory loans to Chinese Hong merchants. Widespread predatory lending in Canton led to a financial crisis during the late 1770s, which ruined several British and Chinese merchants. In an effort to recover the money they claimed was owed to them, many British traders, including John Blake, formed a lobby group in London and authorized Britain's first Ambassador to China to negotiate with the Emperor in Beijing on their behalf.