Association Of Banks (1937-1945)

In the past few years more and more specialists studied the ShangHai Bankers Association in 1918-1937, but they hardly talked about the Shanghai Bankers Association in 1937-1945. My doctor dissertation separates from the history of Shanghai Bankers Association on December 8, 1941. On firstly period in 1937-1941, the Association had to change their systems and leaders. Besides the rule and law of the Shanghai Bankers Association, the Association amended some systems on Shanghai banking operations to adapt to Anti-Japanese war. The Association carried out the financial policy and systems of National Government through their members. For example, the Association brought forward propose of restrictions on withdrawals of deposit to the Ministry of Finance of the National Government. And the Ministry of Finance issued the emergency measure in home. Meanwhile, the Association urged their members to carry out rules of restriction on withdrawals of deposits, managed to reduce the supply of foreign exchange, urged their members buy government bond and negotiated with bourse about a business transaction of government bond. Moreover, the Association took great measures to reinforce bankroll for ShangHai banks. It tried to limit discount rate, to put rules of restriction on second withdrawals of deposits into practice and to try to supply fractional currency. The Association prepared to enforce the law of supervising bank from the National Government in 1940. The ShangHai Bankers Association rejected the financial aggression or destruction from Japanese and Wang-jingwei's Government in 1937-1941. To maintain banking interest, the Association negotiated with National Government, Ministry of Finance, local government and other department on the reserve of saving account, extending a time of using National Currency contract, returning of capital and Interest to buy government bond and paying for taxation. The ShangHai Bankers Association played an important role in the stability of the ShangHai financial market.The ShangHai Bankers Association was controlled by Japanese aggressor while Japanese troop occupied the International Settlement of ShangHai in 1941. The great changes took place on the leaders and systems of the Association. The ShangHai Bankers Association and the Native Banks Clearing Association combined to deal with complicated condition. And the ShangHai Bankers Association was restructured by Wang-chingwei's Government.To maintain banking management, the ShangHai Bankers Association had to urge their members to follow up the financial law when the Association failed to oppose the policy of forbidding people to use National Currency. And Association carried out the temporary rule to supervise bank and the outline of the management to strengthen on ShangHai financial institutions, which were enacted by Japanese aggressor and Wang--ching wei's Government. Besides, the ShangHai Bankers Association conferred with Japanese aggressor and Wang-chingwei's Government on bank business, confirming the department to administer banking, the end of using National Currency contract and paying for taxation. The ShangHai Bankers Association exerted fairly active effect on maintaining banking interest.