1935年国民政府实施废除银本位货币改革的原因分析

On the Monetary Reform by Kuomintang Government in 1935

1935年中国经济由于国内白银大量外流遭受沉重打击,并导致国内货币信用发生严重危机。国民政府之所以发生如此严重的货币危机,不仅是受世界经济危机爆发后国际银价骤升影响,更是中国银本位货币机制存在弊端,以及国民政府实施巨额的财政赤字政策所致。为拯救困境中的货币金融体系,国民政府于1935年实施废除银本位的货币改革。此次改革使中国货币摆脱了国际银价的影响,并结束了当时中国货币流通的混乱局面,在中国货币金融史上具有重大意义。但此次货币改革对硬通货白银的彻底放弃,又为中国经济后来发生恶性通货膨胀埋下了严重隐患。

From 1929 to 1935, Chinese economy suffered losses and fell into recession because of the appreciation of international silver price, and Nanjing government was compelled to rescind the silver standard in 1935. The currency reform that had historical significance in Chinese monetary history made the Chinese currency independent from the international price of silver. However, because silver as a hard currency was thoroughly abandoned, it buried a serious hidden danger for subsequent economic hyperinflation of China.