Social Opinion On China-USA Alcohol And Tobacco Loan(1916~1921)

During the Peking Government Period, tobacco and wine industry developed rapidly.Alcohol and tobacco tax became the third largest tax revenue. Living on borrowing,the Peking Government turned its glare to the new tax-Alcohol and tobacco tax. In addition,since the beginning of the Yuan Shikai administration, the Beijing government’s foreignloan is restricted to members of national bank. In order to achieve the diversity ofborrowing channels, the Beijing government strived to borrow from countries outside thebank members. America had reserved its strength for a long time. It actively sought theChina economic credit. Based on the common interests, China and America agreed witheach other without previous consultation. China-US loan on Alcohol and tobacco cameinto existence. There were mainly three times of China-US loan on Alcohol and tobacco.The three borrowing discussion activities respectively happened in1916、1919、and1921. About the three China-US Alcohol and tobacco loan, different interest groups athome and abroad expressed their positions and attitudes. Chinese people with ChinaNational Tobacco Federation as its center stated their position to the leaders of both Chianand the US and solemn protested against the loan. the Interactive relationship between thepublic and the central government policy was especially outstanding. With theaccumulation of experience of transfering funds and debts, Chinese protests’ way,effect and size changed apparently.