Studies On CaiJing's Financial Policies

The financial policy of Huizong's Song dynasty was closely related to Cai Jing who, after Huizong took office, acted as Prime Minister for the longest period of time. Although being deposed serial times, he came to restoration as quickly as possible, until at last he was deposed in the 7th year of Xuanhe. This thesis falls into four parts:The first part talks about the situations before Cai Jing reigned his power. No one could be optimistic about the conditions of Huizong's dynasty, which had experienced a cumulative process replete with ups and downs. From its initial period till the death of Renzong, Song prospered for about a hundred years. During the period of Taizu and Taizong, Song's finances began to improve. It entered its culmination when Zhenzong was reigning, with relatively small numbers of wars, social stability, productive development, and economic boom. After the coalition of Tanyuan, the emperor began to adore superstition, and the administration was in disorder, which led to financial deterioration. During the period of Renzong and Yingzong, for various reasons, finances run into crisis. It was because of financial crisis that Shenzong came into power. Subsequently, for the purpose of financing, Wang Anshi was chosen to launch economic reform which turned the states around. After the death of Shenzong, Song's finances met another downturn. When Huizong succeeded to the throne, financial situations worsened.The second part analyzed Cai Jing's financial ideas and his perceptions of consumption, which originated from Wang Anshi. Cai Jing was a man of intellect, which can be seen from his roles in the three reforms. With respect to personal relationships, Cai Jing was in deep touch with Wang Anshi. One prejudice against Cai Jing is that he grabbed his power through temporization. There were two mainstream financial ideas in Ancient China: to increase revenue and to limit expenditure. Wang Anshi put his emphasis on the former while he implemented them concurrently. Cai Jing carried on Wang Anshi's ideas that sophisticated financing implied less constraints on expenditures. On specific measures, such as pay for bureaucrats and dealing with affairs of ethnic minorities on the frontiers, Wang Anshi also had effects on Cai Jing. Conclusion can be drawn from this that Huizong and Cai Jing both were pros rather than cons to reforms.The third part elaborates the substances and outcomes of Cai Jing's financial policies. After took office, Cai Jing imitated Wang Anshi to restore the former institutions of three departments. His financial policies can be viewed from two perspectives: revenue and expenditure. The former involves salt law, tea law and equal taxation. The latter is concerned with welfare and education.The fourth part explores the possible reasons of the disappearance of Song dynasty. Chendong imputed the guilt to Cai Jing. Yangshi put the blame on Wang Anshi, which was regarded as a verdict in the periods of Southern Song, Yuan, Ming and Qing dynasties. But in effect, Huizong as the headman should bear more accusations.