票号在天津发端

天津的金融业历史悠久，明末清初，已是萌芽状态，出现了钱局、钱铺、炉房和典当。
清代，天津通用的货币主要是银两和铜钱。随着商业的发展，贸易往来增多，不同地区之间出现了频繁的相互拨款。一些路途遥远，大批量的交易活动，在货币交付中，使用的银两、铜钱极其沉重，不仅无法自行携带，而且路上也很不安全，只好委托 “镖局”护送，既花费很大，又不能保证交款时间，并且有相当大的风险。
乾隆、嘉庆年间，山西省平遥县西达蒲村李家为股东，开设了西裕成颜料庄，总号设在平遥城内西大街，资力雄厚，在天津、京师、汉口、成都等城市开设了分号，天津的分号设在针市街。
先后在汉口、京师、天津任过颜料分号经理的雷履泰，在天津分号任经理时，看到颜料庄每年去四川采购一种叫 “铜绿”的颜料，大批银两需要委托 “镖局”运往四川，深觉这对颜料庄来说，是一种困扰。雷履泰便琢磨如何采用一种新的便捷办法，他借鉴古代飞钱、便钱(或便换)的经验，总结出一套较为完整的汇兑经营模式，用以解决两地拨付货款的问题。
雷履泰先与四川地方官府商妥，由西裕成颜料庄代替四川地方官府向朝廷交纳应该解往京城的地赋税银，换取收据； 然后带着收据去四川采购颜料时，用以兑换现银； 在当地拿到现银后，再去购货。这样就大为方便了，地方官府也免去解运税银之劳，从而两得其便。
后来，四川商人到天津、北京购货，也将现银交给颜料庄在四川的分庄换取汇票，到天津后凭借汇票兑换现银使用。颜料庄的这种汇兑业务逐渐发展起来，虽然从中收取一定的 “汇水” (即汇费),但是比委托 “镖局”押送现银的花费要节省很多，而且安全、方便。通过这种银钱汇兑，不仅使颜料庄在几年内盈余数十万两银子，并且在中国首创了汇兑业务。
雷履泰被调回平遥总号任经理后，建议东家将颜料庄改为专营银两汇兑和存放款业务的票号，经东家李大全同意，投资30万两纹银，于清道光三年(1823年),另一说是道光二年(1822年),正式成立了日升昌票号。所谓“日升昌” ,意在如日东升，生意昌盛。雷履泰出任总经理(大掌柜)。日升昌是中国第一家票号，应该说，天津是中国票号的发祥地。
票号的经营是以汇兑为主，所以采取分支连锁制度，除在财东所在地设总号外，多在外地设立分号、联号及一些代理店。日升昌票号成立后，很快在全国40余个大中城市设立了分号，票号业务搞得红红火火。

·山西平遥日升昌票号总号后院

天津开埠以后，钱业发展，各钱铺多吸揽票号存款，以扩充业务；埠际贸易也有赖票号为之调节，所以票号业务发展很快。光绪二十六年(1900)庚子事变前，天津的票号发展到鼎盛时期。光绪三十一年(1905)、三十二年(1906),天津有票号25家。日升昌，地址在针市街，东家是李五典、李五玉、李五庸、李五峰，这是日升昌票号的第三代财东。经理是乔仰侨。
票号发展的鼎盛时期，也隐伏着危机的到来。1921年票号结束了在天津的历史。
The history of finance in Tianjin can be traced backto the end of Ming Dynasty or the beginning of QingDynasty when there appeared cash bureaus,cash shopsand pawnshops.
In Qing Dynasty,currencies in Tianjin were mainlytaels and copper cash. With the development of businessand trade,there needed more frequent money transfer;but the traditional taels and copper cash were too heavyto carry in doing business.
During the reigns of Emperor Qianlong and EmperorJiaqing,a person whose family name is Li launched apigment shop "Xiyucheng" in the county seat of Pingyaoin Shanxi Province. Later,several branches of the shopwere opened in Tianjin,Beijing,Hankou and Chengdu. TheTianjin branch was located in the Zhenshi Street.
When Lei Lutai was the manager of the Tianjinbranch,he sent people to Sichuan Province to buya kind of pigment called "Copper Green" (patima)every year. He was disturbed by the inconvenienceof fetching large amount of money into Sichuan. Leiracked his brains and got a new method of moneytransfer by studying the past experiences.
Firstly,he reached consensus with the SichuanGovernment that Xiyucheng paid silver of taxation inadvance and got the warrant,which could be changed intotaels when he went to Sichuan for pigment purchase. Itturned out to be a win-win model for both sides.
Later,when Sichuan businessmen went to Tianjinand Beijing to buy goods,they gave taels to Xiyucheng`sSichuan Branch to exchange taels,through which theycould got money in Tianjin. The exchange business grewquickly with drawing some remittance fee,which wasmuch cheaper than the money paid for armed escorts andmuch safer and more convenient. By doing exchangebusiness,Xiyucheng accumulated hundreds of thousandsof taels of silver. This was the beginning of exchangebusiness in China.
When Lei Lutai was moved to Pingyao headquarter asthe manager,he suggested to his boss Li Daquan to changeXiyucheng from a pigment company into an exchangeshop,majoring in taels exchange and loan. Li agreed andinvested 300,000 taels to set up the Rishengchang in 1822(or 1823). Rishengchang means the rising sun,indicatinga prosperious business as a rising sun. Li served as thegeneral manager of the shop,which is regarded as the firstexchange shop in China. To some degree,Tianjin was thebirth place of exchange shops in China.
Money exchange was Rishengchang`s main business,which went smoothly. Besides of the headquarter,it alsoopened dozens of chain shops,joint shops or agencies.Within a short period,there were 40 branches of the shoparound the country.
After Tianjin was opened up as a treaty port,itsfinance business grew fast. Exchange shops competedeach other to get deposits for loaning. In 1900,before theoutbreak of the Gengzi Event,exchange shops` business inTianjin reached its peak. There were 25 exchange shops inTianjin. The Rishengchang was located at Zhenshi Street.Its third generation of shareholders were Li Wudian,LiWuyu,Li Wuyong and Li Wufeng. The general managerwas Qiao Yangqiao.
The prosperity of exchange shops also generated risks.In 1921,the development of exchange shops in Tianjincame to an end.