Issue government bonds

From 1938 to 1944, the Ministry of Finance of the National Government issued 18 kinds of domestic debts, some of which were calculated in legal tender and customs clearance, and some were calculated in pounds and dollars. Total 15,192,000,000 yuan,/kloc-0,000,000 sets, 20,000,000 pounds, 2/kloc-0,000,000 dollars. In addition, there are grain and wheat grain bonds. Except for 1937 national salvation bonds, which were "collected" by the people, the rest were not publicly issued, but were mortgaged to the bank in the form of general coupons, and then advanced to the national government by the bank. Banks use it as a preparation for issuing banknotes, and issue cashless banknotes. Bureaucratic capital has created both public debt wealth and legal tender wealth.

inflation

Four months after the beginning of the Anti-Japanese War, the National Government decided to make up the fiscal deficit by issuing more paper money. According to official figures, the legal tender circulation at the end of 1937 was1600 million1.600 million yuan. At the end of 1945, it was 10 and 31900 million yuan. It has increased by 738 times in eight years. Actually, it's more than that. As a result of the indiscriminate issuance of paper money, the wealth of the four families is rapidly concentrated, while the general public is increasingly poor.

foreign exchange control

The national government implemented foreign exchange control from March 1938. Since then, official foreign exchange has been monopolized, and black market transactions have followed. With the devaluation of legal tender, the difference between the official price and the black market is getting bigger and bigger. During War of Resistance against Japanese Aggression's period, the exchange rate of US dollar and legal tender in foreign exchange was always 1:20, while it was 1:85.4, 1, 944, 1:542.2 on the black market. The four families used their privileges to buy a large amount of foreign exchange and gold at the official price, sell them at the black market price, and make huge profits by changing hands.

(of a country) monopolize the purchase and sale of (grain)

1September, 937, the National Government set up the Trade Committee, which was composed of Fuxing Company, Hua Fu Company and China Tea Company, and implemented the unified purchase and marketing of silk, tea, tung oil, bristles and other major export materials in the Kuomintang-controlled areas. The main export mineral products such as tungsten, antimony, tin and mercury are purchased and sold by the Resources Committee. On February 1942, Material Bureau was established to purchase cotton yarn in a unified way. Under the policy of unified purchase and marketing, the national government implemented low-price forced purchase and made use of the price difference between buyers and sellers to obtain high profits. Taking tung oil as an example, the difference between the purchase price of 1942 and the domestic market price is 100 yuan, and that of 1943 is100 yuan.

In short, the national government publicly plundered the people through various means, which made the bureaucratic capital expand rapidly during the Anti-Japanese War.