Central Bank, Bank of China, Bank of Communications, Agricultural Bank. What connects the four banks is legal tender. 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 yuan, which is equal to 1 shilling 2.5p, and foreign exchange is traded by the central government, China and China, which is the gold standard. After the outbreak of War of Resistance against Japanese Aggression, the government implemented the foreign exchange control policy, and legal tender became the paper currency standard. Recover other banknotes within a time limit. It also stipulates that all public and private funds must be received and paid in legal tender, and the market silver dollar will be nationalized, 1 legal tender exchange 1 silver dollar. The legal tender was originally linked to the pound and can be exchanged indefinitely in designated banks. 1936 After the National Government negotiated with the United States, China sold silver to the United States in exchange for foreign exchange reserves issued by the US dollar as legal tender, which was linked to the British pound and the US dollar. Some people think that the legal tender issued by the national bank and guaranteed by the national credit decoupled the currency from the precious metals with fluctuating prices, which was a progressive financial system reform in China at that time; This is also a feature of modern national financial system. The issuance of legal tender unifies the domestic currency, while the control of currency issuance falls in the hands of the government, and the domestic hard currency such as silver is therefore concentrated in the hands of the government. Legal tender played an indispensable role in maintaining China's finance during the Anti-Japanese War. However, the actual effect of the implementation is that government-run banks plundered people's wealth and destroyed people's savings. (Refer to Baidu Encyclopedia)