| Book Review | The American Historical Review, 109.3

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| Book Review | The American Historical Review, 109.3 | The History Cooperative

Brett Sheehan. Trust in Troubled Times: Money, Banks, and State-Society Relations in Republican Tianjin. Cambridge: Harvard University Press. 2003. Pp. xiii, 269. $59.95.
Despite Tianjin's importance as Republican China's second largest financial, industrial, and trade center, few scholarly works are available in English that explore its economic development and significance for our understanding of modern China. Drawing on extensive archival work and theoretical studies on trust, money, and banking, Brett Sheehan's book breaks new ground in the history of modern China by providing a comprehensive account of Tianjin's financial, social, and political history in Republican China.	1
Given the critical role that financial institutions have played in economic development and in people's lives, the history of modern Chinese banking merits careful consideration. However, studies of Tianjin's banking history are largely absent from the historiography of modern China. Sheehan's work is the first to fill this void. During the period covered by this book, Tianjin underwent endless regime changes, constant political chaos, and frequent financial crises. By scrutinizing nine financial crises that wracked Tianjin between 1916 and 1937 and describing Tianjin's bankers' struggle to develop viable strategies to promote people's trust in banks and paper money, Sheehan provides a clear picture of the development of Tianjin's modern banks in Republican China.	. . .

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