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抗战时期冀钞的发行可以分为两个阶段。从1939年10月到1942年底为第一阶段,该阶段发行执行紧缩政策.由于军政开支庞大,财政透支占发行总额的一半以上。紧缩发行政策反映了根据地政府对战时通货膨胀的顾忌,导致了开拓冀钞市场力量不足,延缓了货币一元化进程;从1943年到抗战胜利为第二阶段,该阶段发行政策上比较放手,多采取经济发行的方式,注重发展生产。此外还采取分散发行的办法适应农村经济季节性和区域性的特点。冀钞的发行在积累货币发行经验、抵御日本金融侵略、支援抗日战争、恢复发展根据地经济等方面发挥了重要作用。
The issue of banknote during the Anti-Japanese War can be divided into two stages. From October 1939 to the end of 1942 for the first phase, the issue of the implementation of austerity policies at this stage due to military spending, financial overdraft accounted for more than half of the total. The austerity issue policy reflects the scruples of the base government on wartime inflation that led to the lack of power in opening up the Jiadian banknote and delayed the process of monetarization of currency. From 1943 to the victory of the Anti-Japanese War, which was the second phase, the release policy at this stage was more lenient and more taken Economic distribution methods, pay attention to the development of production. In addition, decentralization is also adopted to adapt to the seasonal and regional characteristics of the rural economy. The issuance of the Ji banknote has played an important role in accumulating experience in money issuance, resisting Japanese financial aggression, supporting the war of resistance against Japan, and restoring and developing the economy in the base area.