1. Sheldon Garon, ‘Luxury Is the Enemy: Mobilizing Savings and Popularizing Thrift in Wartime Japan’, Journal of Japanese Studies, 26:1 (Winter, 2000) 41–78.
2. The International Savings Association was actually a foreign company although it was very popular in Chinese society. Lottery savings schemes are explained later in this chapter.
3. The first lottery savings association in China was established in 1912. The Frenchmen Jean Beudin and René Fano were involved together with the Chinese Yu Xiaqing, ye Zhoutang, Zhang Hongzheng, and Li Shumin. See Xue Liyong, Shanghai zhanggu cidian (The Dictionary of Shanghai Anecdotes. Shanghai: Shanghai cishu chubanshe, 2000), p. 154.
4. Shenbao, 23 May 1920.
5. Shenbao, 6 June 1920.