论中国早期纸币的盛行及衰落——北宋交子在货币史上的短暂一现

On the Prevalence and Decline of the Previous Paper Money in China ——the Flash of Jiao Zi in the North Song Dynasty

北宋交子的产生早于西方国家的纸币五六百年 ,其发行和流通可谓货币史上的一大飞跃。本文通过对北宋“钱荒”现象的分析 ,着力从经济角度探讨了纸币产生的社会条件 ,虽然交子的初期发行受到商民的广泛欢迎 ,但由于封建王朝实行高度集权统治 ,淡漠相关钞法、无视流通规律 ,导致纸币短暂发展后迅即贬值而走向末路。

The emergence of Jiao Zi in the North Song Dynasty is earlier than it in the western countries by 500 to 600 years. Its issue and circulation had developed by leaps in the currency history. Through analyzing the phenomenon of “money shortage” at that time, we discuss the social conditions of the note from the point of economy. Although the initial issue was widely welcome among the businessmen and citizens, the feudal royal who owned the highly centralized power neglected the laws and rules of the currency circulation which finally led to the devaluation and declination of the paper money after a temporary prosperous period.