Tuesday, May 22, 2012

What’s Singapore worth?

Posted by noelbynature

If, during your next weekend getaway, decide to head up north to the Pearl of the Orient, look out for this white colonial-period building that has something in common with Singapore:

dsc_8876St George’s Church is located well inside the World Heritage site of Georgetown, Penang and holds the distinction of being the oldest Anglican church in all of Southeast Asia, having been built in 1816. No surprise there, as Penang was one of the first British settlements to be founded in the East Indies in 1786. Being the patron saint of England, and also the patron saint of soldiers, St George was a popular church name for English colonies.

What does St George’s Church have in common with Singapore? Well, when it was built in 1816, the cost of construction was $60,000 Spanish dollars, the global currency of the time. Three years later, Singapore was bought by the British for the same amount!

So to have an idea of how much Singapore was originally worth, take a look at the St George’s Church in Penang, which still conducts services every Sunday. Almost 200 years later, it looks like Singapore was a really good bargain. Does anyone know what the equivalent amount of $60,000 Spanish dollars would be worth today?

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