The Research On Private Lending Activities In Qingshuijiang River Basins During Qing Dynasty And The Republic Of China

Private lending is an important part of economic life, particularly the lack of official lending institutions, lending ineffectiveness, the private lending is an important channel for citizens to access capital and overcome difficulties in life and investments when private financial markets lags behind in traditional Chinese society, Tianzhu County is located in the Qingshuijiang river downstream, self-sufficient peasant economy as the main planting rice and timber trade as the main source of supplies from the Qing Dynasty to the Republic of China, there is none left except for the living expense. And since heavy exactions, frequent natural disasters and local unrest in the Qing Dynasty increasingly happened, which lead people's economic situation is more distress, private lending became more urgent. In addition, agricultural and commercial investments are one of reasons for borrowing.There were interest-free lending mutual aid and lending with a certain amount of interest, and also special forms of folk pawning, buying on credit, the Council during Qing Dynasty to the Republic in Tianzhu County.Pawn activities in Tianzhu County mostly occurred between individuals Due to lack of formal institution.Most activities were in line with the general lending programs but there also existed more strict details of the differences, such as tax cut, investment tax certification, plus or transfer pawning.Pawning interest rates, not like the traditional literature emphasized, serious exploitation, usury prevailed, class contradictions, but because of the strong concept of "Valuing Loyalty" in Miao and Dong ethnic areas, as well as Chinese culture, were under the spread of mutual interest-free or low-interest.The rates of interest in pawning activities, buying by credit, the Council, pledges,or no pledges lending activities,were often associated with the national average interest rate level and substantially unchanged from the same period.Generally,lending interest rates were higher in Republic of China than those inthe Qing Dynasty.Grain rates higher than the current rates. The reasons for that were both because of the overall economic environment, but also with the seasonal fluctuations in related grain prices. Lending behaviors as a market phenomenon,with the pursuit of profit inevitable, cannot all be seen as exploitation.The solutions to the contracts in private lending activities,often negotiated between both of the lending bodies.The use of revenue-producing overdue, pledge lien Stand contract, as well as debt relief grantor compensatory manner, were subject to significant controversy, also with the aid of local family relationship. Even if they ultimately resorted to the judiciary official, whose criteria were fully taken into account for the role of local customs.In this thesis, Qingshuijiang river downstream of Tianzhu county is taken as the research object. The study of firsthand historical materials and newly discovered river water data base are compared to other regional documents. The thesis depicts the true reality of private lending in this river basin and explores the economic and social development through the historical periods in Tianzhu region, and hope to provide a reference for the current reform of the rural financial market.