John Cushing was
a Boston-based sea merchant and philanthropist. He was just a boy when his
mother contracted small pox
and died. His uncle Thomas Perkins raised him. When he was 16, Cushing moved to
China to work as a clerk in Perkin’s counting house. When he arrived in China,
the head of the firm had just died so he became the sole agent for Perkins
& Company. He remained in China for 30 years where he was called Ku-Shing.
Cushing was
taken in as a partner of Perkins & Company because of his skills. He was
responsible for the founding of the Canton office of the partnership in 1806.
When the War of 1812
broke out, the firm loaned money to Canton merchants at 18% interest. Cushing
became one of the most influential foreigners in Canton in the 1820s. He had
established a close relationship with Houqua, a hong merchant who was known as
the richest man in the world at his death in 1843.
After the death
of his cousin Thomas Forbes, who was Cushing’s personal choice to assume
control of his business, Cushing decided to dissolve Perkins & Company and
consolidated it with Russell & Co. in 1827. Cushing retired from his
business.
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