国民政府战时美金债券政策再探讨

Rethinking the National Government's Policy of US Dollar Bonds in Wartime

1942年初国民政府运用5亿美元借款发行"美金节约建国储蓄券"和"同盟胜利美金公债"来扭转后方日益恶化的财政经济状况。其初期沿用战时既有的"节储"系统销售"美金节约建国储蓄券",后又在发行"同盟胜利美金公债"时加强"派募"。然而上述举措无法形成有效的社会动员,最终未能在财政和外交上达到预期效果。这一失败导致国民政府抑制通货膨胀的努力日趋被动,也在一定程度上使其内政外交陷于困顿。

In early 1942,the National Government issued " Savings Certificates" and " Allied Victory Bonds" with the securities of $ 500 million loan offered by the United States,in order to reverse the deteriorating financial and economic situation in the rear. It used the wartime existing " Saving and National-Building System" for marketing at first. However,the system failed to generate effective social mobilization and ultimately failed to achieve the desired results in the fiscal and diplomatic fields. Such a failure caused the National Government’s efforts on curb inflation to become more and more passive,and to a certain extent made its internal and foreign affairs difficult,resulting in the overall negative impact on the national government’s financial situation in the late period of the Pacific War.