|
Family Money: Unit-Linked
versus Unit Trusts
By Leslie
Wright
I am often asked to explain the difference between unit
trusts and unit-linked insurance policies.
Most investors are familiar with the concept of
collective investments - professionally-managed funds - which in turn
access specific stock markets, bond markets, money markets or even
commodities & futures markets, depending on the particular funds you
select.
In the States they’re called mutual funds; in UK,
unit trusts; and in Europe, UCITS. They’re all basically the same animal
wearing a different coat.
When discussing a unit-linked insurance policy,
however, some people say to me: “I don’t want to buy insurance -
I’ve already got enough; I only want an investment vehicle.”
Well, a unit-linked insurance policy is an investment
vehicle, just as a unit trust or mutual fund is.
The primary difference is that with a unit trust you
buy units in your chosen fund directly, while with unit-linked insurance
policies you access similar funds indirectly, through a designated
vehicle.
To use an analogy, the individual funds are
‘horses’ available from a large number of ‘stables’ - the
investment houses who run & manage them - and a unit-linked insurance
policy is merely the ‘vehicle’ to which are attached a number of
different ‘horses’ from a number of different ‘stables’.
Why go to the bother of having this intermediary
‘cart’ when you can access the ‘horses’ directly?
Well, for many typical investors, there are some very
good reasons.
Keep it simple
First, simplicity of administration. To construct a
diversified portfolio with a good spread through global equity markets,
with perhaps a couple of bond funds tacked on for safety’s sake, plus
elements of specialist funds accessing “interesting” areas (like
technology, communications, healthcare, leisure, and privatisation),
you’d be looking at a fairly complex mix of unit trusts/mutual funds
from several financial management institutions.
Just to track your portfolio would mean regularly
contacting at least four or five such institutions, and transferring the
results onto a computer spreadsheet - (few sophisticated investors fiddle
with calculators and bits of paper nowadays!) - and this is both
time-consuming and cumbersome.
Unit-linked insurance policies typically permit holding
up to 10 funds at any one time, selected from a wide-ranging ‘menu’
which includes a number of external fund-management institutions. Thus a
single valuation from the product provider permits you to track a
widely-diversified portfolio simply and easily.
A second aspect is in the construction of a
finely-tuned yet diversified portfolio.
Typically, the entry minima required by unit
trust/mutual fund providers would require a relatively substantial amount
of capital to be available to allocate, say, only 3-4% of the portfolio to
each of the several ‘specialist’ funds mentioned above.
With a unit-linked insurance policy, on the other hand,
such small percentages could easily be accommodated amongst more
substantial holdings in either major-market equity funds or broad-based
asset-allocation funds (what used to be called “managed” funds - a
misleading term since all collective investment funds are actively managed
by professionals.)
Compare the costs
Next consideration is cost. Critics often cite the
heavier and more complex charges that generally accompany unit-linked
insurance policies, as compared with unit trusts/mutual funds.
While it is true that many unit-linked schemes seem at
first glance to carry heavier entry costs (known in industry jargon as
‘front-end loading’), these charges are often offset by increased
allocations (i.e., how much of your money goes to work for you on Day
One). This makes them highly competitive with typical unit trusts/mutual
funds’ entry costs.
But another more subtle advantage unit-linked insurance
policies have over unit trusts only really comes to light over time.
If you want to change from one unit trust to another -
but still keeping your money with the same investment house - most unit
trust companies levy a charge of 1% of the value of the holdings you’re
switching from one of their funds to another.
If you’re holding only a small portfolio, this may
not amount to very much. But 1% of a portfolio worth US$100,000 is
US$1,000 - which is hardly chickenfeed. And if you rearranged this whole
portfolio every two years (which to track changing market conditions is
perfectly feasible), over a 10-year period the charges for doing so would
amount to 5% of the portfolio’s value - or at least US$5,000 (depending
on how much it had grown in the interim).
Unit-linked insurance policies, on the other hand,
typically permit either free ‘switching’ or are charged only a nominal
administrative fee for rearranging your portfolio appropriate to changing
market conditions.
Nevertheless, some people complain that the charges
associated with most unit-linked policies are more complex than with unit
trusts, and there can be penalties for stopping them “early” - i.e.,
before the contractual period is up.
While this is true in most cases (although not all),
many unit-linked policies offset their charges by giving “loyalty”
bonuses to longer-term investors, which can actually make them more
cost-effective over time than unit trusts, which typically offer no
“loyalty” bonuses at all.
Plus, of course, it should be borne in mind at the
outset that one really shouldn’t enter into a long-term savings contract
unless you intend to continue it through to maturity.
This is where things so often go awry when an
inappropriate vehicle has been taken out by an investor who finds himself
unable to keep the payments going for one reason or another, and
inevitably suffers penalties for stopping or encashing the plan early -
just as you would if you withdrew your money early from a bank
time-deposit.
Minimal insurance benefit
While primarily investment instruments, unit-linked
plans were originally introduced to take advantage of the preferential tax
treatment enjoyed by insurance policies under UK rules, as compared with
unit trust investments.
The various international insurance companies that
offer such schemes have developed a wide range of vehicles to satisfy
almost every requirement.
There are ones that accommodate short-, medium- or
long-term investments, large and small, lump sums as well as regular or
irregular savings, with or without any significant life-insurance
coverage.
A good independent financial advisor should be able to
recommend to you a plan which is precisely tailor-made to your particular
requirements.
A unit-linked insurance policy may charge you no
premium at all for the inherent life coverage, which in most cases is
minimal, and is there purely to comply with UK tax rules. (For example,
should you die whilst holding one of these policies, the payout is
typically 101% of the portfolio-holdings’ value; unit trusts on the
other hand would pay out 100%.)
On the other hand, a substantial amount of life
coverage can be built into some of these plans, and at a competitive
premium. This can simplify matters tremendously when considering what
vehicle to use, for example, to pay off a property mortgage, or to build a
fund for your children’s education, where if something unforeseen
happened to you, your children’s continued education is guaranteed.
Tax Advantages
If, however, you don’t require any built-in life
coverage, why not simply use unit trusts?
Well, as touched upon earlier, one of the main reasons
that the unit-linked industry developed is because there are tax loopholes
in certain regimes whereby insurance policies could potentially give
holders tax advantages that investment vehicles like unit trusts would
not.
And the astute people running the insurance companies
(notably in the U.K. - which is one of the main reasons British insurance
companies now dominate the business) saw this as a great opportunity to
develop a whole new branch of the international investment industry, to
their and their clients’ mutual benefit.
One such vehicle is the well-known “qualifying
policy”, which allows a holder legally to avoid any tax liability on
drawing down the proceeds in the U.K.
This is simply a regular savings plan which must run
for at least 10 years, and has a minimal insurance “wrapper” around it
which guarantees in the case of early death to pay out at least 75% of the
total contributions that would have been made had the policy gone to
maturity. The premiums for this coverage are quite small, and usually
deducted from contributions in the early years of the plan, while the
insurance company is still carrying a substantial risk.
The primary benefit of this particular vehicle (other
than the obvious one of seeing some growth on your investment) is legally
to avoid paying tax - which could otherwise run as high as 40% of the
growth under current U.K. tax rules - when you come to withdrawing the
money.
This type of plan is, however, still just an investment
vehicle - albeit a potentially very tax-efficient one.
Thus, for someone intending eventually to be resident
in the U.K. (whether British or otherwise), and who wants to put aside a
regular amount for at least 10 years, one of these potentially-qualifying
unit-linked insurance plans could well be more appropriate than saving
regularly into a stand-alone unit-trust savings plan - which would have
absolutely no tax efficiency in the U.K.
Similar tax breaks apply in certain other countries -
France and Germany to name but two.
In France, for example, a unit-linked insurance policy
held for at least 5 years starts to accrue tax advantages, and if held for
7 years could potentially avoid any tax liability altogether.
Similarly in Germany, a unit-linked policy held for 12
years (with certain other criteria attached) becomes tax-efficient.
Governments are getting wise to these loopholes in
their tax systems, however, and are trying to close them up.
In Australia, for instance, similar rules to those in
the U.K. used to apply; but a few years back the Australian government
changed the laws - and retrospectively. As a result, Australian residents
holding offshore investment schemes now have to pay tax on the deemed
growth even if they haven’t drawn it down yet!
Similarly, the German authorities have tried several
times to amend the tax rules on these policies; but fortunately for German
clients, the bill failed each time to go through the German parliament.
The British government also has said that it intends to
close some of the tax loopholes; but whenever amendments to the U.K. tax
laws have been made in the past, at least they haven’t been made
retrospective, so clients holding tax-efficient unit-linked policies
don’t need to worry just yet!
So which is better?
The answer to whether a unit-linked insurance policy or
unit trust is better for any specific case (whether savings plan or
lump-sum investment) is: “It depends.”
It would depend very much on the individual
investor’s requirements and circumstances, and no two individuals’
needs are ever the same. Needs and circumstances may also change over
time, so what was appropriate four or five years ago may no longer be so
applicable.
However, and speaking only in the very broadest sense,
if someone is looking to invest for the longer term, either to accommodate
savings or a lump-sum, unit-linked insurance policies could be more
appropriate - especially if tax-efficiency is an important consideration.
If, on the other hand, the intent is to accommodate
relatively small ad hoc amounts or for a relatively short term, and
tax-efficiency will never be an issue, unit trusts may be the more
appropriate route to follow.
Before making any commitment to either route,
therefore, it would be wise to discuss your own particular needs,
circumstances and investment criteria with a professional financial
advisor who will take all these factors into consideration before making
specific recommendations.
Leslie Wright is Managing Director of Westminster
Portfolio Services (Thailand) Ltd., a firm of independent financial
advisors providing advice to expatriate residents of the Eastern Seaboard
on personal financial planning and international investments. If you have
any comments or queries on this article, or about other topics concerning
investment matters, contact Leslie directly by fax on (038) 232522 or
e-mail [email protected].
Further details and back articles can be accessed on his firm’s website
on www.westminsterthailand.com.
The Computer Doctor
by Richard Bunch
Continuing the Windows 2000 theme, this week we discuss
Windows Millennium (ME) and is it right for you?
This offers enough reliability improvements and new
features over Windows 98 for me to recommend it to most Windows 98 users
and for those who are daunted by the prospect of installing, say, Windows
2000 Professional.
Since the Windows 2000 team was basically given the
brief to fine-tune the next consumer Windows (Windows.NET 1.0, code-named
“Whistler”), Windows ME will offer a straightforward transition to
that OS. Windows ME lacks some of the bells and whistles of the
Professional version; there are no fading icons, mouse cursors, and menu
effects from Windows 2000. And Windows ME can’t take advantage of dual
processors, as Windows 2000 Professional can.
It makes up to some extent by offering far greater
hardware and software compatibility than Windows 2000 Professional, etc.,
for example by giving consumers the straightforward and transparent
upgrade they desire. Windows ME requires far fewer resources than Windows
2000, so it will run on less powerful machines with less RAM. Windows ME
starts up and shuts down much more quickly than Windows 2000 on the same
hardware. And, ME comes out of hibernation and standby (two power
management modes) much more quickly than Windows 2000. On single processor
machines, Windows ME is much more responsive than Windows 2000.
ME features some excellent reliability improvements
that make it a must-have upgrade for Windows 98 users. First of all,
Windows ME no longer has “Real Mode DOS,” a legacy environment that
older MS-DOS programs ran in. Instead, Windows ME only supports the
“Protect Mode” of the Intel processors it runs on, which provides the
OS with full access to the power of the underlying hardware. The removal
of Real Mode DOS has several implications, most of them positive. Windows
ME boots up more quickly and more reliably because a Real Mode boot loader
is no longer required. And once the OS is up and running, it is more
stable because of the removal of Real Mode DOS, which was a major cause of
reliability problems in Windows 95 and Windows 98.
There are other reliability improvements in Windows ME
as well. Microsoft has introduced a HTML-based activity centre called Help
and Support that aggregates Microsoft’s local help files with online
updates from the company and other third parties. Thus, all of the help
files on a system can be accessed from a single place.
For gamers, Windows ME continues the compatibility
tradition set by Windows 98/SE, adding a slightly newer version of DirectX
(7.1, not 8.0 as widely reported), DirectPlay Voice, and some lame online
games from the MSN Gaming Zone, which in any event are free.
The home networking features in Windows ME make this
release more compelling for consumers that wish to network PCs together
and share a single Internet connection between these PC’s. If you’re
not a networking aficionado, Windows ME will make life easier for you.
Power users, programmers, and the like are best advised
to use Professional but for others, ME offers a viable and robust
alternative being far less buggy and much more stable than its
predecessors.
Send your questions or comments to the Pattaya Mail at
370/7-8 Pattaya Second Road, Pattaya City, 20260 or Fax to 038 427 596 or
E-mail to [email protected].
The views and comments expressed within this column are not necessarily
those of the writer or Pattaya Mail Publishing.
Richard Bunch is Managing Director of Action Computer
Technologies Co., Ltd. providing professional information technology and
Internet services which includes; custom database and application
development; website design, promotion and hosting; domain name
registration; turnkey e-commerce solutions; computer and peripheral sales
service and repairs, networks (LAN & WAN) and IT consulting. For
further information, please e-mail [email protected]
or telephone/fax 038 716 816 or see our website www.act.co.th
Successfully Yours: Samuel
Lehmann
By Mirin MacCarthy
Did Samuel Lehmann, the retiring Executive Chef from the
Amari Orchid Resort in Pattaya have the right recipe for success? Will that
recipe be suitable for his retirement? After an hour with the twinkling eyed
Sam, the answer I received was an outstanding “Yes” for both.
Sam Lehmann is now almost a part of the Amari furniture. He
has outlasted several General Managers in his desire to remain in Pattaya, a
city he has seen grow with him over the past 31 years.
 Sam
was born in Hideldank Switzerland, 15 km outside Berne, in wartime Europe,
when both money and jobs were hard to get. “We were rather poor but my
parents taught us, no matter how poor or simple our life was, never to steal
or beg but to help ourselves. To go straight is the best advice you can get
from parents. I appreciated it the most; it really formed my life. When I was
young I helped on the farm picking apples and in the bakery to get my own
money.”
Sam, who helped his father to repair the village kids’
bicycles for free, had wanted to be a mechanic but chose chef training because
of the economic situation. “It was the shortest apprenticeship, only two and
a half years, and I wanted to travel, and with this profession the whole world
is open to you. The training was hard; free room and food, but not one baht
salary and only one day off a year. It was good for us though, it kept us
healthy and taught us how to save. We never went to a bar or a cinema. I
believe I had the most beautiful youth. Earn it yourself is the best advice
you can have.”
When he finished his apprenticeship Sam worked for fourteen
months in the International Restaurant in Basle. “That was funny, the
kitchen was half French territory and half Swiss so we were working in 2
countries. We worked hard too, when there was fog in Zurich they would divert
all the planes to Basle and we would work three days and nights without any
sleep. I loved every minute of it.”
Sam then left for London and spent one and a half years
working in Claridges, then the best hotel in town. Then he went to the Grand
Hotel in Stockholm where he stayed for 5 years. There he married Anna Marie, a
Swiss lady, and they had their first son Jan. Then the family left for
Switzerland because his mother-in-law wanted to see her grandson. Sam took a
job for Swiss Air catering for 3 years, and their second son, Urs was born.
“It was the sixties and hard to exist on your salary in Switzerland. I
worked in a restaurant in Zurich on my day off just to make money. When I
heard they were looking for a chef in Thailand, I asked Anna Marie and she
said, ‘Pack the bags, let’s go.’ So when Urs was just a baby we left to
join the Nipa Lodge. I’ll never forget the day we arrived, the 20th of
September 1969, and it was the only hotel in Pattaya.”
Working in the hotel business Sam did not have much time to
spend with the family, his children had to move to Bangkok for schooling, and
after three years he and his wife separated. Sam spent 5 years at the Nipa
Lodge and then transferred to the Orchid Lodge (now the Amari) after its
opening in 1973. He has been here, a part of the furniture, ever since.
If Sam had his life over what would he change? “I would
do it no other way. I would not change one little bit,” he said and laughed.
“I want to have a quality life. Being in nature is important; it makes me
feel happy. I go to the market and cook Thai food for myself on my day off. I
will be doing exactly the same things when I retire, sitting on the beach,
preferably daily. Chatting with friends, caring for the house and garden, and
going fishing once in a while. I love shark fishing off Ban Saray. I like the
peace on the boat. The sea is something beautiful.”
Sam is a man who values integrity and a life of simplicity
energized by living by the sea. “When you look in the mirror in the morning
and can say, ‘This is me, I’m proud of me’ and never be ashamed of what
you have done, that is important. Success is when you feel happy, everything
else is a phantom. One thing I never tried to be was a celebrity, a big name
in this profession. I try hard to make the food as perfect as it can be, but I
keep my feet on the ground. What more do you need in life - food to eat,
clothes to wear, a roof, a bed and nature? I want less, not more. You cannot
buy happiness with money.”
Undoubtedly Sam Lehmann, as humble and unassuming as he is,
has for him found not only success, but here in Pattaya, his real niche in the
world. Happy retirement Sam!
Snap Shots: Shooting
for stock
by Harry Flashman
Equals shooting for money!
Need some extra money? Well, you can make your camera
work for you and earn its keep. Sound interesting? Of course it is. Stock
photography is what a number of photographers call their retirement
allowance. And believe Harry Flashman here - it works.
So how does it work? Quite simply, the Stock Agency
works as a collection house for images (photos) and is a central contact
point for people who require images for their businesses. This means that
advertising agencies, magazine editors, book publishers and the like know
where to go to get a picture of a girl on a beach, a chocolate cake or a
man deep sea fishing. Can you imagine what it would be like otherwise?
Editors ringing fish photographers, cake photographers and the one hundred
million girl on a beach photographers and telling them to bring their
sample pictures in and we’ll go through them all till we find the shot
we need. No, they give their specifications to the Stock Agency who go
through their files and send the most likely photos over to the client,
who then chooses what he or she needs.
The Stock Agency then “rents” the selected photo to
the client (editor, ad agency etc) and gets it back after the client has
used it. They then hang onto it and file it away again and then rent it
out as many times as people want that particular image. You, the owner of
the image, get paid generally 50% of the rental fee. Depending on the end
use of the image, that rental fee could be anywhere between $50 and
several thousand! Now you really are interested, aren’t you!
OK, so why isn’t there a long queue outside the Stock
Agency of hopeful photographers with a picture of Aunt Matilda’s cat
under their arm? Quite simply, because the Stock Agencies are selective.
They are looking for particular images and a large range of them. One
thumb-printed Aunt Matilda’s cat is not what they are after.
Many Stock Agencies are also specialised. There are
those who deal in cat pictures, those that only have sport pictures, those
that only have glamour shots - the list is endless. However, there is one
vast majority trend in all the agencies - they want pictures of people,
well scrubbed healthy looking people enjoying life. These “lifestyle”
photographs are the everyday things that people do. Taking the dog for a
walk, doing the washing up, cooking prawns on the BBQ, daughters hugging
mothers, dads talking to sons, grandparents with grandchildren. Quoting
from the book The Photographer’s Market 2000 (thanks for the loan of it,
Ernie Kuehnelt), the typical needs of the majority of Stock Agencies is as
follows, “photos of babies, children, couples, multicultural, families,
parents, senior citizens, teens, etc., etc.”.
The Stock Agency that carries Harry’s photos says in
its latest brochure that they need photos of lifestyle, family, business,
couples, animals, health and beauty, children and babies and golf.
However, let me assure you that the people in these
photos have to be good clean wholesome folk - not the average spotty
teenager! In fact, the whole image has to be spotless. Good clean crisp
photos without distracting backgrounds, well focussed - and in fact, all
the attributes of a “good” photograph. Eye catching, with that certain
attractive element that will make the client choose your photo rather than
someone else’s.
So what’s the catch? The catch is that the Stock
Agencies want colour slides in the majority and generally want you to send
in around 400 images to begin with (although some will accept fewer than
this), and then contract to send more every year. That means you need 400
crackerjack shots and go on from there. Some places want 1000!
For those who are interested, here are a couple of web
sites to explore - www.photosource.com and www.pickphoto.com. Stock
photography is exacting, but is something you can do in your own time -
and make money too!
Modern Medicine: Pollution.
Nothing’s new!
by Dr Iain Corness
Forty odd years ago there was an American satirist
called Tom Lehrer. An ex Harvard University lecturer with a wicked sense
of humour, who wrote the following song. I have changed it in two places
for the sake of this article, substituting “Pattaya” for the original
“American” on line 1 and “Bang Saray” for “San Jose” in the
last line. Read it and see if it still applies!
If you visit Pattaya City,
You will find it very pretty.
Just two things of which you must beware:
Don’t drink the water and don’t breathe the air!
Pollution, pollution!
They got smog and sewage and mud.
Turn on your tap
And get hot and cold running crud!
See the halibuts and the sturgeons
Being wiped out by detergeons.
Fish gotta swim and birds gotta fly,
But they don’t last long if they try.
Pollution, pollution!
You can use the latest toothpaste,
And then rinse your mouth
With industrial waste.
Just go out for a breath of air
And you’ll be ready for Medicare.
The city streets are really quite a thrill -
If the hoods don’t get you, the monoxide will.
Pollution, pollution!
Wear a gas mask and a veil.
Then you can breathe,
Long as you don’t inhale!
Lots of things there that you can drink,
But stay away from the kitchen sink!
The breakfast garbage that you throw into the Bay
They drink at lunch in Bang Saray.
Isn’t it remarkable that a 45 year old satirical
ditty such as that should still be relevant today - and don’t think that
it is just Pattaya that has pollution problems. The physical illnesses
that come from industrial pollution in the so-called developed countries,
for example, are very serious and contribute greatly to overall mortality.
Almost as much as cigarette smoking!
In fact, there is a branch of medicine, called
Occupational Medicine, which deals with the ailments associated with work
and the workplace and man’s interface with his working environment. The
original concept that work could produce illness was put forward by an
Italian physician called Ramazzini in the 1700’s so it’s not new!
However, we still keep on producing more and more Occupational Diseases,
despite our 300 year old knowledge.
One of these was the angio-sarcomas of the liver
produced by Vinyl Chloride Monomer - a substance produced in the
manufacture of cling wrap and the like. People reverted back to paper bags
for their lunchtime sandwiches!
There are lots of similar diseases caused by air
pollution and even polyurethane paint can produce asthma in someone who
never had it before.
No, pollution is much more than overflowing rubbish
bins. The principal danger from those is the smell, but atmospheric
chemical pollution can kill.
 Dear
Hillary,
I am a young man, single and considered to be not bad
looking. My problem comes from one of the girls I have met recently. She
rang me at work the other day and asked if I could come over and see her
at the new bar she was working in. I did remember her from her previous
bar but was embarrassed as I could be overheard by my workmates when I was
talking to her, so I just kind of fobbed her off. How can I tell her it
isn’t a good idea to ring me at work in a crowded office? Any
suggestions?
Ernest
Dear Ernest,
You are far too “earnest” for your own good, young
man! It’s quite simple; if you don’t want a girl to ring you at work,
then don’t give her your business card, silly! If you feel the need to
chat her up on the phone just give her your mobile and tell her what hours
to ring you between. The girl isn’t silly, she’ll comply. But will
you? That’s the question.
Dear Hillary,
The wife of one of my husband’s friends will be
coming to visit Pattaya next month, along with a couple of her girl
friends. They would all be in their 50’s, and shocked me when they wrote
and said they wanted to see a “sex show” while they are here. Do you
think it’s proper for me to take them to some of the more outrageous
places, or what? I’m really blown away by this. What do you recommend,
Hillary?
Shocked
Dear Shocked,
There is nothing to worry about, my dear. Everybody
knows we don’t have sex shows in Pattaya. The nice policeman told me so.
If you’re really worried, get your husband to take them.
Dear Hillary,
We are often in Thailand and the one thing that
completely confuses me is the subject of tipping - when and how much? If
the establishment charges a “service” fee, should you tip as well?
What do you do as someone living there, for example? I believe that the
wages are not high for some of the people in bars and restaurants and they
need the tips, but I do not want to throw money away either? What’s your
tip about tipping?
Jenny
Dear Jenny,
There are two situations here - Service Charge or no
Service Charge. If the establishment adds on 10% (the usual amount), then
as far as Hillary is concerned - that’s the tip. There are some places
that no doubt pocket the Service Charge, but that’s not anything of our
doing, nor can we change it. That is something between the employees and
the owners to work out. However, if Hillary feels that the waiter or
service provider has gone well beyond that which could be expected, then I
reward with a little extra something for that person, irrespective. You
know the sort of things I like - a little fawning, grovelling and lots of
compliments. In an establishment that has no standard add on Service
Charge, then it really is up to you. Small change left over or up to 10%
is quite normal. The Thai people are grateful for anything you leave them.
It all adds up by the end of the day.
Dear Hillary,
You are often telling people that they should learn
Thai if they are living here for some time. I have retired here, but at my
age (70), I find it very difficult to learn a new language at my time in
life. Is there any quick way of doing this, or do you have any special
tips for people trying to learn this Thai language?
Bob
Dear Bob,
If it’s not tips about tipping, it’s tips about
talking (Thai). What next? Bob, it is a problem I know, but if you are
retired and not working, then there is one quick (but none of them are
easy) way to learn. It’s called Total Immersion and Hillary’s language
teacher friends all tell me it is the quickest. Go and stay in a village
up country in a little local hotel and put yourself into the situation
that you have to speak Thai or starve! I am told that in six weeks you
will have picked up reasonable Thai and you are on your way to complete
mastery of the tongue. You will also probably have picked up a small
language teacher. Lots of luck and “Chok dii, Kha”.
Dear Hillary,
Some days when I read your column you really can be
terribly bitchy. Why are you like this? These people are only asking for
help.
Charles
Dear Charles,
Hillary get bitchy? What a terrible thing to say,
Charlie boy! But I do get bitchy when I have to answer ridiculous obvious
questions like yours. I agree though, you certainly do need help, but I
doubt if you’d like the rubber room and the funny sleeveless tight
jacket. Best to steer clear of me till next week.
GRAPEVINE
|
Tourist scams
Like any other popular destination
worldwide, Pattaya has its fair share of traps for tourists. Some of
these are a bit obvious, mind you. If you give a beach bum fifty baht
to feed the elephants, and there isn’t a trunk in sight, don’t be
too surprised if the guy disappears into the nearest bar to buy a
beer. People who offer you the potential winning ticket in the next
lottery for a small tip do leave open the question why they are not
making the sensible investment themselves. Maybe they just can’t
resist putting fortunes in other folks’ pockets.
Cereal nightlife
A reader’s letter a few issues back
pointed out that Pattaya is based on sex. A bit extreme that is. After
all, there is a factory making cornflakes near Rayong. But it is
certainly true that you have to be alert for scams in a go go bar.
Dare to speak to a hostess and you can probably kiss several hundred
baht goodbye for a succession of those Pattaya specialities The Lady
Drink. It’s a bit steep for the privilege of telling a stranger what
your name is and where you are from. The Lady Drink itself can be a
humble Sprite with a red cherry floating on top, but masquerades under
a selection of sensational names such as The Horny Supersonic, The
Mind Blower or the Iceberg Melter.
Golden moments
The jackpot, they say, is in the
bedroom. Take a stranger back to your room and you could be really
asking for it. Argue unpleasantly about a fair price, and your new
partner may let it slip a much loved brother is in the police or owns
a Colt 45. Or worse, he or she may disclose the information that the
all too significant eighteenth birthday is not until next week. One
drunken farang woke up last week to find his wallet had been emptied
and his false teeth stolen. A thank you note had been left to the
effect that mum was in urgent need of a transplant operation whilst
dad would appreciate no longer being a toothless wonder.
Foreign mafias
Mind you, foreigners are the worst.
Many a naive guy has invested a million or so baht in a
‘successful’ bar venture only to discover himself ripped off by a
farang partner or embroiled in lengthy negotiations with a lawyer who
has seen it all before. One greenhorn even made his investment by post
after reading an Internet advert and receiving some expensive color
brochures. He duly sent a check for four thousand US dollars to buy
outright the lease on a thriving massage parlor called Blissful
Movements. But when he arrived to assume ownership, he found the site
was a motorbike repair shop on Sukhumvit Highway. The man changing
exhausts said there had never been a nightclub there, although he had
once helped blow up the balloons with his air pump for a new year’s
party.
|
The bottom line
In fact, it can be so easy to make
your money vanish in Pattaya that old hands here recall some real mind
benders. An Australian guy went through his entire fortune of ten
million baht in just three months. He invested in two bars, both of
which went bust, and bought a Mercedes car and a four bedroom house
which he put in his new wife’s name. His major problems began when
he was in Penang on a visa run. The wife found it necessary to sell
the house and car on an emergency basis as most of her relatives near
the Burmese border had been involved in a minibus accident. The
resulting broken bones and crushed ribs cost an absolute fortune. It
must have been true as the Aussie later received a card from his
beloved in Los Angeles thanking him for sorting out the family
problems.
Buttons and bows
Purchasing expensive jewelry and
antiques is an art form best left to experts anywhere in the world.
Pattaya is no exception, although there are doubtless many Honest Joes
here too. A British couple bought a ‘genuine’ Ming vase on Monday
morning and then saw hundreds of identical ones being made in a
factory near the Cambodian border on Monday afternoon during a tourist
trip to the countryside. Needless to say, they had paid many times the
proper price for a fake. The couple did go to see a lawyer about their
legal rights in the matter. He told them they could take action in the
civil courts but they needed to stick around for a year or so. This
was a bit difficult as they owned a fish and chip in Manchester and
needed to be back at the grindstone the following week.
Sense and sensibility
Europeans, Aussies and Americans are
probably more at risk than Asian visitors to the resort. This is
because the former tend to travel alone or with one other person.
Chinese and Japanese, inveterate travelers, tend to stick literally to
their peer group in a large crowd of package tourists. They do
everything by numbers - going to the beach, crossing the road, eating
out, even going to a cabaret. Anyone contemplating a scam would find
it very difficult to break into such tightly knit groups. If there is
an open season, it’s on we westerners. So, if you’re new to
Pattaya or are a bit of a greenhorn, there are five do nots. Don’t
separate yourself from your passport or valuables. Don’t loan
significant money to anyone. Don’t sign any business papers whether
in English or Thai. Don’t try to make a profit out of expensive
purchases. And, most importantly, don’t drive around without
insurance. It really is as simple as that.
|
Dining Out: Henry
J Bean’s - Fajitas equals Fun!
by Miss Terry Diner
Henry J Bean’s Bar and Grill is a favoured hangout for the
Pattaya community. A place you can take kids, a place with music and
entertainment, a place that has a full sit-down menu and a place with a good
ol’ American style bar.
The decor is good ol’ American too, from boxing posters of
Muhammad Ali and Joe Frazier, Coca-Cola signs, Goodyear “tires” and similar
memorabilia of the 1950’s American dream.
The staff is well trained and welcoming, with a “Welcome to
Henry J Bean’s” given by a smiling attendant. Seating is either mezzanine
style raised above a “lower” floor area, on the lower extension of the dance
floor itself, or another cosy corner nook catering for the non-smoking set.
The menu begins with appetizers including loaded potato
skins, nachos, voodoo wings, onion rings and a deep fried seafood number on
fries with chilli and garlic mayonnaise. These are all between 140-240 baht.
Next up are the 180 gram ground beef burgers (220-260 baht)
and then the BBQ and Grill that includes New York strip steak, rack of ribs,
ribs and wings, pork chop and char-broiled red snapper (250-550 baht). There are
also salads and seasoned fries available.
Specials (170-340 baht) include hot dogs, tuna melt
sandwiches and Cincinnati chicken, and then comes the fajitas (chicken, beef,
vegetable and prawn) at 220-350 baht.
Desserts (90-120 baht) include the famous “Brownie” as
well as other favourites like hot fudge sundaes. On the back of the menu are
drinks, cocktails, wine, soft drinks and spirits. By the way, the menu prices
are subject to service and VAT charges.
 Madame
chose a house white wine with soda (“Spritzer”), while Miss Terry went for
the Carlsberg draft, which is on tap.
To begin, we shared an order of loaded potato skins, with
extra bacon. These were large slices of potato, generously filled with lashing
of crisp bacon bits on top and the one dish was plenty for the pair of us. We
sat back to wait for our mains. Madame had ordered a Queen size (180 gm) New
York strip steak, medium rare, while I went for the Tex-Mex dish of blackened
chicken fajita.
While we were waiting, the friendly waitress brought over two
bibs for us to wear (they must have seen us eating before?) and then with a
great “hurrah” from the staff, the waiter brought our sizzling meals to the
table. The steak dish had accompaniments of corn on the cob with fries, herb
butter and Cafe de Paris sauce, while the fajita was a multi plated work of art!
Four separate dishes held the guacamole (avocado), grated cheese, sour cream and
salsa, with another topped warmer holding the soft tortillas, and then a
sizzling hot plate with the chicken, already cut into strips, on a bed of onion
and bell peppers (capsicum).
Madame immediately went into raptures over her steak and I
must admit, the piece I had was extremely tender and a tribute to the chef - it
was exactly to her order. However, the fajita was the fun dish of the night. You
take the circular tortilla and then put a goodly dollop of salsa, or cream or
whatever you like in the middle, some strips of chicken with onion and bell
pepper, roll it up, fold over the ends and start enjoying. The fun comes that
every time you can make it differently, and for me it was a guacamole/cheese
with the chicken that was the best.
For me, the Fajita was definitely the dish of the night (and
at the price, great value), while Madame sat there contentedly licking her empty
steak plate. Enough said! With the music from the Heart and Soul Band, and the
great food, it is worthwhile making a night of it at Henry J Beans. We did, and
highly recommend it.
Henry J Bean’s Bar and Grill, top end of Beach Road (behind
the Amari Orchid Resort), telephone 428 161.
Animal Crackers:
The Grey One
by Poppy K
Kisner
He sat and watched the sparrows play...around the feeders
there.
His wife had loved those little birds...but now he didn’t care.
She always kept the feeders full...and birds would flock around,
And squirrels would eat the bigger seeds...that fell upon the ground.
It seemed those little birds would wait...for her at
first sunlight,
He thought they must have slept...in all the bushes within sight.
But yesterday he buried her...his wife of thirty years,
And now alone he watches them...and tries to hold back tears.
He doesn’t want to feed the birds...the feeders have
run dry,
But all the birds still flock around...and he just wonders why?
He doesn’t want to start with it...he’ll probably take them down,
He really doesn’t care right now...if they don’t come around.
So, day by day he sits and stares...beyond the feeding
place,
So far into the distance...in another time and space.
And, one by one the sparrows leave...but one still comes each day,
It’s different from the other ones...one wing is colored grey.
Then each day as the days went by...the little bird was
there,
The feeders were all empty...but he didn’t seem to care.
The sparrow sat upon the perch...and seemed to look at him,
He sat about an hour...then he flew away again.
He wondered if that little bird...had been her favorite,
Because there was no food for him...but there he still would sit.
So he went to the garden shed...to try to find some seed,
He thought if just a handful...he knew that was all he’d need.
He found a bag within a plastic pail....that she had
kept,
And as he thought about his wife...he just sat there and wept.
He thought again, she loved those birds...but now they were all gone,
Except the little grey-winged one...he was a hanger-on.
So everyday he took some seed...just enough for one,
And watched until the little bird...had eaten and was gone.
Then he took the extra seed...that remained on the tray,
And saved it to use once again...for him the following day.
But then one day it didn’t come...and then a week went
by,
He thought it must had flown away... some place where it could die.
He knew something had happened...when the sparrow didn’t come,
So then he took the feeders down...his feeding days were done.
Then early Sunday morning...he arose before the dawn,
To visit his wife’s resting place...and manicure the lawn.
He always took some flowers...and would place them by her stone,
He felt she knew that he did not...just leave her all alone.
But through his tears he saw the grave...and then he had
a thought,
Remembering the bird seed...and he whispered, “Oh, why not?”
He went and got the bag of seed...and spread some on her place,
And as he did he hoped his friends...would not think it disgrace.
But as he did, he thought the birds...would also come
again,
And then his lovely wife would be...surrounded by her friends.
He thought he’d do this everyday...he knew she wouldn’t mind,
He loved his wife so very much...and she would think this kind.
So as he spread the seed about...he knew her friends
would come,
And he would bring the seed to them...until his days were done.
And then he’d tell his children...when beside her he would lay,
To bring the seeds and feed her friends...just as he did today.
But as he stood and watched for birds...behind an old oak
tree,
His eyes began to tear again...at what he now did see.
A little bird, the first to come...to get some seed that day,
A little sparrow and it had...a wing the color grey.
Copyright James (PoppyK) Kisner and Fleeting Moments Publishing. < www.themestream.com
> James “PoppyK” Kisner < [email protected]
> www.aristatech.com >
Reprinted with permission.
Down The Iron Road:
Locomotives that can bend: Fairlies and Meyers
by John D.
Blyth
‘Locomotives,’ said the late Dennis Carling, ‘are
by nature long, thin things’. Right! They are limited in height and width,
mainly by line side structures, so their only way out is to be made longer;
but as the track is more often than not curved, they have to be able to
‘bend in the middle’. Even a so-called ‘rigid engine’ can be made
flexible to some degree, but we have already seen the ‘Mallet” type, not
the first and in many ways not the best, but widely used. More systems of
‘articulation’ than I can deal with have been invented and used, but
before I come to the ‘Garratt’, which technically was the best, allow me
to show you the ‘Fairlie’, the ‘Meyer’, the ‘Kitson Meyer’, and
one or two lesser ones from the USA.
 0-4-4-OT
Fairlie, built in 1885 by Stephenson, Newcastle, for the Hainsdorf-Klipsberg
section of the Saxon State Railways.
The drawing shows the idea of the system devised by
British engineer Robert Fairlies: the double boiler with a common firebox in
the middle and all resting on a full-length rigid frame and underneath, two
‘power-bogies’, each fed with steam from the nearest boiler, and able to
swivel either way from a pivot fixed into the frame. It took time to master
the art of making the swivelling joints in the steam pipes steam-tight, but
the type had an early success on the Festiniog Railway, a slate-hauling
concern in North Wales, where one was seen by Russian engineers, who
thenceforth built them in some quantity. There was a very real snag which
appeared as bigger Fairlies were built - the width limit was leaving almost
no room for the fireman to put on coal, which had to be done from the side.
To get over this the last Fairlies built in 1930 were to use oil fuel in
place of coal. These were for Mexico. The Festiniog Railway, now a holiday
attraction, still uses this type.
There were one or two curious variants to the Fairlie as
shown. One was the Single Fairlie, looking more like an ordinary engine,
with one group of driving wheels, and a 2- or 4-wheeled carrying truck under
the cab and bunker. The secret was that both sets of wheels are pivoted in
the Fairlie principle. Frankly it seems to be a bit too much, but the
Festiniog has one, about 120 years old and out of work for many years, which
has been lovingly restored to working order. Really, these Brits!
 Early
Meyer, 0-6+6-0T, built by Cail, Denain, France, for the CF de l’Herault
The other oddity was the compound Fairlie; there were
only three, on the Saxon State Railway in Germany. It seems Anatole Mallet,
the ‘compound man’ was around when they were being designed and
suggested compounding, which they fell for. One of them, restored to its
original appearance, is now on show in the Dresden Verkehrsmuseum; I went
too soon and it wasn’t there, but there are things I would like to know!
Consider the pipe work involved to collect the steam from two separate
boilers, convey it to two high-pressure cylinders at one end of the engine,
each wanting the same amount, exhaust the steam from there to the
low-pressure cylinders, from which it has to be exhausted to the atmosphere,
in equal amounts from the chimney at either end of the engine, as it was
desirable that each boiler should produce about the same amount of steam.
One of these oddities is shown in the photograph.
 Compound
Fairlie as restored for Dresden Verkehrsmuseum.
The Meyer system of articulation had something in common
with the Fairlie, as both had full length frames with two steam bogies
below; the basic difference was the Meyer had a full length boiler as well.
The configuration of the bogies could, and did vary a lot, some having the
cylinders at the rear end of each bogie, which resulted, in many instances,
to the exhaust from the rear set being taken directly to the atmosphere,
thus losing the benefit of assisting the draught on the fire by passing it
through the blast pipe and chimney. In other cases all four cylinders were
grouped together at the centre of the locomotive (see illustration); this
made the option of compounding easier for those lines (notably the Saxon
State Railways) that favoured the adoption of such a system. Compound Meyers
still worked on the Saxon standard gauge lines as late as the 1960s, whilst
they may not be quite extinct on the remaining narrow gauge lines, in what
used to be ‘East Germany’, even now.
 Du
Douquet 0-6-2+2-6-6-0T, C.F. du Nord 6.107 at La Plaine, Paris, 1938
The limitations placed upon the Fairlie type by the twin
boiler arrangement did not apply for the Meyer, and so it could have almost
any wheel arrangement, such oddities as 2-6-6-2T and 0-6-2+2-6-OT being
known; the latter, often ascribed to the French engineer du Bousquet,
operated on the Northern Railway of France and so came close to the U.K.!
They also worked on the French Eastern, Western and Ceinture lines, a batch
were built for the Chinese Peking-Hangkow Railways, and some on the Spanish
broad gauge for the Andalusian Railway. My photograph shows one at the
Bobigny depot in Paris in 1951; I did not see one at work, although it was a
near miss of about 2 months! These locomotives were 4-cylinder compounds
(with one exception built as a simple), and despite their very odd
appearance they worked well and hard for over 40 years.
Next week, I will deal with the ‘improved’, or
Kitson-Meyer, and also have a quick look at some (but not all!) of the
lesser articulated locomotives, leaving ‘Rack Meyers’ until later. The
way will then be clear for ‘Garratts’ almost certainly the best of
‘artics’ even if not the biggest or commonest.
Woman’s World: Smell
it or eat it?
by Lesley Warner
I was reading an article the other day and found a
recipe, which made me curious about roses and their possible use, so I went
looking for more. After collecting this information I shall never be able to
view a rose again in the same way. I admit to not having tried any of these
recipes yet but I did go to the market today and buy a rose bush. The next
time you are out in the evening and someone buys you a rose please don’t
eat it until you get home!
Scrambled Rose Omelet
3 eggs
3 tablespoons water
1/4-teaspoon rose water
1/8 cup chives, well chopped
1/8 cup of Feta cheese*
4 jungle rose petals
dash of salt*
sprig of spearmint (as garnish)
Rinse jungle rose petals well, dry and cut into slivers
with sharp scissors and set aside. Separate egg whites and yolks into
separate bowls. Add water, rose water and salt to egg whites and whisk until
well blended. Fold in egg yolks*, add chives and whisk again until blended.
Pour into hot, buttered* small omelet pan; watch for the edges to firm.
Using a spatula, fold firm edges into center and tip the
pan so that the still liquid center runs out to form a new edge. Continue
folding in the firm edges using this process until no longer runny, but
still wet inside. Sprinkle cheese and 1/2 of the slivered jungle rose petals
on top and place under grill until cheese is lightly melted. Remove pan from
grill, fold in half, transfer to dish and garnish with remaining Jungle Rose
petals, spearmint sprig on top. Serve with fresh fruit, toast and rose
preserves.
* These items may be substituted or eliminated entirely
according to diet restrictions or preference.
Rose Petal Sandwiches
one sourdough flute
one large leaf of curly romaine
10 jungle rose petals
goat cheese
walnuts or pine nuts
red onion slices
rose berry dressing
(1/2 cup raspberry yogurt, 1/2-teaspoon rose water)
Cut flute in half and toast lightly. Rinse romaine and
jungle rose petals well and pat dry. Place one romaine leaf on 1/2 toasted
flute. Layer jungle rose petals, goat cheese and walnuts. Top with rose
berry dressing. Place the second romaine leaf on the other flute, add onion
slices, serve open faced.
Jungle Rose & Spearmint Tea
one cup jungle rose petals
1 fresh sprig of spearmint
8 cups boiling water
Rinse jungle rose petals well. Place in a coffee press
with fresh spearmint sprig. Add boiling water, steep for three minutes,
press and serve. One tablespoon of honey per cup is suggested.
Oatmeal Rose Honey Facial
Tear 1/8 cup of rose petals blending with 1/3 cup finely
ground oatmeal and 4 teaspoons of honey until well mixed. Blend in 1
teaspoon of rose water. Apply to freshly cleansed face and relax... in your
pure petal bath for 1/2 hour. Remove with warm water and washcloth or mitt.
Honey Glazed Chicken with Jungle Roses
4-5 pound roasting chicken
3 tablespoons of honey
2 tablespoons of melted butter
2 tablespoons soft butter
1 tablespoons of rose water
1/4 cup of chopped pistachio nuts
4 pounds potatoes (cut lengthwise into 1/4s then into chunks)
1/4 lb butter
3 cloves garlic pressed and minced
two sprigs rosemary
Prick Chicken with a knife, secure 1/2 tablespoon of
butter under skin above each breast and thigh, truss. Mix honey, butter and
rosewater. Brush mixture on outside of chicken. Place in an open roasting
pan surround by potatoes. Sprinkle rosemary, garlic, salt, and lightly
pepper potatoes. Add soft butter in chunks around potatoes. Roast in an open
pan at 350 degrees for 1 & 3/4 hours. Baste frequently with pan
drippings and remaining mixture. Transfer chicken to a hot platter
surrounded by potatoes. Sprinkle with nuts and garnish with rose heads.
Nightmarch
In the Hot Spots: The vast majority of beer boozers and a
lot of the ogling dens have Happy Hours but the International Bar (Soi 8) has
taken a different tack in a unique method of snaring the boozing baht. The
International has a Happy Hour period that runs from 5:00pm until 9:00pm and
boozers stand a chance of walking out of the joint without having to cough up
the cash for indulging in their favourite tipple. When it comes time to pay the
punter gets to toss a coin, either his or theirs. If it comes down the way the
punter calls it, then the bar foots the bill. If he loses the toss, then the
punter simply pays the regular price for a drink instead of the Happy Hour
amount. If you’re one of those lucky types who tends to win toss of the coin
contests (like Australian cricket captain Steve Waugh) then maybe you should get
down to the International and take the odds to a freebie.
For The Hungry: Most of the Belgian community in town
knows about it and many are regulars, but La Petite Planet (Soi Day Night 2, off
South Pattaya Road) has to have one of the best value-for-money meal deals in
town. Run by chef de food Albert and seat warmer Eric, the Little Planet has a
daily three-course set menu that’ll lighten your wallet to the tune of a mere
125 baht, plus the cost of a drink. The menu consists of an entree, main and
dessert and changes daily. Generally, there are two entrees, three mains and two
desserts from which to choose and the munch-house has garnered a good reputation
among locals as well as the Belgians and French. Recently, Belgian Albert and
French Eric opened the noshery as a Sandwich Bar and Bistro from 11:00am until
5:00pm, serving cappuccino and expresso coffee as well as sandwiches and other
tasty morsels.
On the Drawing Board: It has been well documented that
City Hall plans to turn Second Road from Pattaya Klang to Naklua into a one-way
traffic street, but it is also rumoured that Third Road will become the new
conduit point for traffic coming into and going out of Pattaya. It is being said
that Beach Road will essentially be closed to through traffic apart from tour
buses (groan) and, presumably, baht buses. Just when this will happen is
anybody’s guess, probably not for some time to come given City Hall’s budget
and the general pace of change in Fun Town.
In the meantime, Second Road will be widened near the old
Green House on the corner of Pattaya Klang. The former giant restaurant/cocktail
lounge has stood empty and dilapidated for some seven years now and although it
has attracted some interest by potential investors in that time, it remains
severely run-down and would require a small fortune to give it some semblance of
working order. The fact that a large chunk of the area near it will soon be
widened for the road reduces its appeal as a development site.
Seen Around Town: The crew that brings you the Bar
Hopping Guide maps has released their first Restaurant Hopping Guide map.
Featuring 33 munching houses, they are a varied lot to say the least, ranging
from highbrow joints like Swiss House, Captain’s Corner and Greg’s Kitchen
to more middle range nosheries such as Kohinoor, Five Star Vegetarian, Rosie
O’Gradys and the Pig N Whistle and entertainment houses like Samsara and T.W.
One. There are a few real down-to-earth places like Peter’s Bar, Pran Prai and
Pizza Service. Basically, there’s something to suit everybody’s taste buds
and all packaged in a colourful and easy-to-read guide. You’ll find the guide
maps at many mid-range hotels (Eastinny Inn, Eastinny Place, Sabai Lodge, Sabai
Inn, Natural Park Beach, Lek, etc.), participating restaurants and a few bars.
Out of the Rumour Mill: Apropos of the above, it is being
touted that a copycat-style map of the bars and nightlife scene is being flogged
by the same mob that bring you glossy little tomes designed to fit snugly in
your pocket. For ostensibly ethical reasons the little guides previously refused
to include ogling dens and the like between its pages, the publisher claiming
the high moral ground. However, with the success of the Bar Hopping Guides the
enterprising dragon thinks it has found a way of filling its depleted coffers
and to hell with all that morality, there’s a baht to be made out there.
My e-mail address is [email protected]
Coins of the
Realm: Foreign coins used in Thailand
by Jan Olav Aamlid President
House of the Golden Coin
http://www.thaicoins.com
For more than 600 years bullet coins were the most common
form of money used in Thailand. The production of bullet coins was very
time-consuming. Old tools were used and a skilled craftsman could in 1857
produce about three Chang, 240 baht, in one day. The total mintage the Mint
could produce in one day was less than 30 Chang, or about 2,400 one baht bullet
coins.
 Thai
4 baht bullet coin with Crown and Chakra
The production could not be increased because there were no
skilled craftsmen available. The merchants did need more coins to be able to
conduct their business, and King Mongkut allowed foreign coins to be used in
Thailand.
In the southern part of Thailand, close to the Malay border,
people were used to dealing with foreign coins, but in other parts of Thailand
most people preferred using Thai coins. A suggestion was made that deals larger
than 10 Chang, or 800 baht, could be made in foreign coins. King Mongkut asked
the people to accept foreign coins, but nobody would be punished for not
accepting foreign coins.
One of the most common coins for international trade at that
time was the Spanish or Mexican 8 Real. It is said that the Thai world
“Rien” comes from Real. Often I have heard L pronounced as N and the other
way around.
 Mexican
8 Real countermarked with Crown and Chakra. In 1857 three pieces of 8 Real coins
could be exchanged for 5 baht of bullet coins.
 However,
people were still hesitant to receive foreign coins as payment. Something that
might have confused people at that time was that it was prohibited to use
foreign coins for bracelets and necklaces for children. The reason for this
might have been that it was not proper for a Thai to wear the portrait of a
foreign Monarch or a Christian Cross.
To help the situation of the lack of coins, anyone who was in
doubt of the authenticity of a coin could bring it to a government official. If
the coin was real it would be counter-stamped with the Crown and Chakra which
people were familiar with from the bullet coins used at that time.
The most “common” of these countermarked coins were the
Mexican 8 Real. They are now very rare, and the few seen for sale have been
selling for 100,000 baht and up. Peruvian dollars countermarked with the Crown
and Chakra also exist. They are much more rare and the few I have seen have been
counterfeits.
Copyright 2000 Pattaya Mail Publishing Co.Ltd.
370/7-8 Pattaya Second Road, Pattaya City, Chonburi 20260, Thailand
Tel.66-38 411 240-1, 413 240-1, Fax:66-38 427 596; e-mail: [email protected] |
|
