富滇银行时期云南金融恐慌的成因

On the Causes of Yunnan Financial Panic in the Period of Fudian Bank

富滇银行时期,云南地方金融在经历了富滇银行设立初期短短几年的稳定后,便一直处于混乱之中,期间经历了严重的金融恐慌。导致金融恐慌的原因除了富行滥发纸币使其信用丧失等内部因素外,财政金融合一,金银比价变化使外贸逆差增大,烟商的投机以及东方汇理银行对云南金融的操纵等也是金融恐慌产生的重要原因。

In the period of Fudian Bank, Yunnan local finance experienced only several years of its early stable development and then fell into disorder and financial panic. The causes include the uncontrolled issuing of Fudian money, the loss of trust, the combination of finance and banking, the changing rate between gold and silver, trade deficit, tobacco speculators and the manipulation of Yunnan banking by Dongfanghuili Bank.