The currency issued by the national government during the Republic of China was called legal tender. 1October 4th 1935, 165438+ stipulates that the bank notes issued by the central bank, the Bank of China and the Bank of Communications (followed by the Farmers Bank of China) are legal tender, and the circulation of silver is prohibited, and national credit legal tender is issued instead of silver dollar. Silver and silver dollars stored by financial institutions and non-governmental organizations are collected and exchanged by the central bank. At the same time, it is stipulated that the exchange rate of legal tender is 1 RMB, which is equal to 1 shilling 2.5p, allowing the central authorities, China and China to buy and sell foreign exchange without restrictions. This is a gold trading standard.