Gold Yuan Reform And Its Impact On All Class Of Society

In 1948, the Kuomintang(KMT) government failures followed on the military battlefield, the actual control area shrinking, coupled with increasing military spending, the national government's finance would be unsustainable, only crazy banknote printing, make up for the huge budget deficit.Regardless of the other consequences, leading to fiat money rapid devaluation, the actual purchasing power has fallen sharply. In order to save the crisis, Chiang Kai-shek put all your eggs in one basket,decided to implement monetary reform.This article starting from the background of monetary reform, focusing on the general situation and the general process of decision-making before the monetary reform secret currency reform in the Kuomintang areas. First of all, discusses the introduction and implementation of policies Jinyuan Quan, a publication focusing on currency reform program as well as the “gold yuan leak case”, and investigates the implementation of the monetary reform in the kmt-controlled area. With giants wealth and financial industrial capitalists, small and medium-sized businesses and ordinary citizens civil servants class of intellectuals and lower officials to focus, detailed discusses the reform of gold yuan certificate for all walks. Then examined the panic buying that swept the country. With the abolition of the policy limit, objective proclaimed currency reform failed. currency reform failed, they deepened the people of monetary credit crisis, refused to use gold yuan over the beginning, and finally lead to a collapse of the gold yuan. The currency reform has come to the end of history.