A Research On The Banknotes Issued By The South-Hebei Bank During The Anti-Japanese War

In order to support the Anti-Japanese war and for the sake of base area's construction, the South-Hebei bank issued paper money. The paper amount was confined closely before 1943. Although the public finance overdraft comparison is very high, The commodity price of the base area remained stable. Through two years much of effort, the paper of South-Hebei bank becomes the standard money in Taihang, Taiyue and South-Hebei. The comparison that public finance overdraws was lowered after 1943, but the total deal increased and the error that banknotes issued pushed the inflation. Better troops and simpler administration, The Great Productive Movement and "the supply system" Alleviated the pressure of the currency consumedly. Protecting Kuomintang currency (fabi) were not purpose but a means, the end purpose was keep financial stability and acquired the necessary supplies. The currency war against Japan contains same purpose.The banknotes issued by the South-Hebei bank supported the Anti-Japanese War, resisted the Japanese economy invades, recovered the base economy, accumulated currency issuance experience.