129809647047711250_111Introduction on November 3, 1935, the Ministry of Finance promulgated the legal tender of Nanjing kuomingtang Government policy measures for the implementation of the Act and the Exchange legal tender. Ministry of Finance decided to establish on November 3, 1935, implement the currency reform of Nanjing kuomingtang Government Panel, and Yuan was issued for resumption and keep reserves, domestic public and private collection and payment, limited to legal tender, non-silverCirculation.
Finance provided by the Central Government, China, traffic unlimited purchase 3 banks sell foreign exchange. The eve of the currency reform measures introduced, the then Finance Minister, Kong xiangxi's financial sector leaders convened in Shanghai talks for two hours, immediately announced a programme for reform. On that day, active market speculation Shanghai, prices go up. The Shanghai native Association specially convened emergency Committee talking about remedies, decided that allGold and silver are paid into the Central Bank, and release notes. Main content 1) unified currency, pursue the policy of legal tender. Central, Bank of China, Bank of communications three (after the farmers Bank of China) issue banknotes as legal tender; other Bank cannot continue to issue new banknotes, and all pay the grain tax collection and payment of the tax and all other public and private funds, limited to legal tender, shall not be exercised in cash; otherApproved by the Treasury to issue bank notes, as usual, the Ministry of finance to tender back on a regular basis. 2) implementation of the Silver State. Prohibition of the circulation of silver, and move the nationalization of silver deposit in foreign countries, as the foreign exchange reserve; where the silver line, stores and other public or private bodies or individuals, holding a silver standard currency or other silver coins silver silver class, from November 4 referred to the issuePreparing a Management Committee or its designated bank of legal tender. 3) abandon the silver standard, the use of exchange standard. To enable the tender to foreign exchange rate stability, provided by the Central Government, China, traffic-unlimited trading exchange; value represented by the exchange rate of the Yuan was; preserving and maintaining a fixed exchange rate of the pound, provides legal tender $ 1 pound 1 shilling 2.5 pence. This caused United StatesCompetition in December the United States changed out measures for the silver, forcing world prices have plunged, affecting the stability of the Exchange Fund in China. During the Nanjing national Government history, to strengthen its regime, economic development, financial stability, has implemented a series of currency reform of Nanjing national Government policy on Kong xiangxi's term in charge of finances (1941), measures and methods,More important is used to change the title of a reign, issuing legal tender, release customs gold certificates, issued gold Yuan certificates and issued silver yen. The currency reform of policies and measures, some conforming to the trend of historical development, to promote economic prosperity and stability, financial stability and social role of some violation and impede the process of history, had contributed to the economic recession and financial turmoil, and eventually led to its ruling regimeDie. Waste two change the title of a reign "spent two change the title of a reign" was taken by the nationalist government in Nanjing a determined silver standard currency of monetary measures. In March 1928, Zhejiang Provincial Government first proposed "unified national currency", "spent two change the title of a reign" proposal. In June the same year
TERA CD-key, at the national economic conference held in the national Government, was raised again "spent two change the title of a reign", "unified national currency" motion, caused byThe attention of the Government, but for a variety of reasons, have not been implemented.
Until July 1932, the national Government Ministry of Finance decided to introduce "spent two change the title of a reign", and developed a "waste two change the title of a reign" principle. On March 1, 1933, the nationalist Government Treasury issued the waste of two change the title of a reign, announces "spent two change the title of a reign". "Waste two change the title of a reign" objectively to the consolidated cargoCurrencies, developing the economy and facilitate the role of the people, expanding the scale of the activities and functions of the Central Bank, implementing in favour of banknotes by the Central Government, lays the Foundation to pursue the policy of legal tender in the future. Customs gold Unit Note closed golden ticket is initially associated with the customs import duty coin, first applied in the early 1930 of the 20th century. On January 15, 1930, the national Government to the price of gold stormRose, silver prices low, significant reduction in customs revenue, is not sufficient to meet foreign debt from the decision the customs import duty levying gold coin, first introduced on February 1. In April 1942, the Ministry of national Government decided a large number of Customs issued gold certificates, customs require $ 1 gold coupon equal to the tender 20 Yuan, and used to pay the grain tax to pay taxes. Since then, the formal relationship between tax and customs from customs gold unit note, just as bigAmount of money to use. In January 1947, the nationalist government issued in denominations of $ 250, $ 500 customs gold coupons two, folded legal MOP $ 5,000, $ 10,000, respectively. In July 1948, also issued in denominations of $ 10,000, $ 25,000, $ 50,000 and $ 250,000 related payment coupons four fold legal currency, respectively $ 200,000, 500,000, 1 million, 500Million. Until announced on August 19, 1948, the nationalist government issued gold Yuan certificates, customs gold unit note was abolished. Gold Yuan certificates in 1948, in order to save the bankruptcy situation arising out of the collapse of the national economy as legal tender, on August 19, 1948, the nationalist government unveiled the fiscal gold Yuan certificates issued in the period of Republic of China economic punishment order, was released at the same time, including the Golden Circle tickets issuedProcedures, the people of all the gold and silver currency approaches, a series of financial regulations. In the gold circle ticket issuance procedures, States issued gold round 2 billion yen as a standard currency, deadlines to 1:300 came the gold Yuan certificates Exchange legal tender. However, only to the same year on November 10, in less than two months time, circulation of gold Yuan certificates has exceeded $ 2 billion limitAmount.
On November 11, the national Government has introduced measures on a modified gold Yuan certificates issued, declaring that gold Yuan certificates issuance to $ 2 billion, and the "to order". Since then, the circulation of gold Yuan certificates as floods burst its banks, expanded rapidly. To the end of November had more than $ 3 billion, in December of more than $ 8 billion, in April 1949, more than 1900 Yuan, to May 18, gold Yuan certificates issuance has reached 9.8041 trillion yuan. In just 9 months of time, gold Yuan certificates become waste paper. Silver certificate on February 23, 1949, shortly after the national Government moved to Guangzhou, the Executive Yuan passed a financial reform, expressly provided: in silver and off as military spending and the calculation of tariffs leviedUnits, and allows part of the shipment and the salt tax levying of tax in kind levied by local governments free. The financial reform has in fact declared gold Yuan certificates of bankruptcy. On May 20, the Acting President Li zongren's views on financial issues, held a special session, the thematic discussion on reform of currency and issued new currency problems. On June 24, the regular session of in the KMT held interim meetings, Conference, Ministry ofLong Xu Kan to report to the General Assembly was preparing to issue silver certificates by the Ministry. On July 3 the Executive Yuan announced the currency reform, decided to issue silver dollar convertible note. Silver Certificate value into $ 1, $ 5, $ 10, $ 50 and $ 100 5 and 4 kinds of coins.
Later because of insufficient fact coin, turn "limit Exchange" approach. Silver certificates were introducedResolutely resist the broad masses, the crowd runs the wave continued, Northwest Guangxi, Chongqing, and issued stock to the national Government exceeds cash ran out of messages. As mass around refused, Silver Certificate declaring the total collapse. After establishment of new China, and by the people's Government of Yuan, equivalent to recover one after another. Significance in May 1936, the Nanjing national GovernmentForced and the United States concluded the Sino-US agreement on silver
SWTOR Power Leveling, preserving and maintaining a fixed exchange rate with the US dollar, legal tender $ 1 is equal to $ 0.2975 make preserving a pound
SWTOR Credits, US dollar client.
Preserving policy implementation, unified currency, is the progress of the Chinese currency system, in the early implementation of the socio-economic development played a positive role. But the national Government to use currencyFocus, strengthen the financial monopoly and preserving of Fiat money with claims by qualifications, and expansion measures for the issue of financing of fiscal deficits, leading to hyperinflation, become an important cause of the later collapse of the national economy.
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