试论民国时期中国各界应对白银危机的举措及失败的原因

Study on Measures to Deal With the Crisis of Silver and the Causes of Failure During the Period of the Republic of China

1933年《伦敦白银协定》的签署和1934年美国《购银法案》的通过,对银本位的中国形成了巨大打击。中国市场上的白银大量流往美国,造成国内通货紧缩,物价下跌,金融和经济都遭受前所未有的损失。国民政府、金融界、学术界和各社会团体纷纷提出各自的主张和应对之策。然而,国民政府对当时白银危机的认知偏差以及应对政策的迟缓,造成无可挽回之局面。虽然此后通过加征白银出口税、打击白银走私、向英美寻求援助等一系列应急措施,但总体而言,收效甚微。应对政策的迟缓、不敢开罪美国、外资银行装运现银出口、英美不愿提供实质援助、日本的破坏以及国内自然灾害造成经济形势的恶化成为国民政府无力解决白银危机的主要原因。

The ＂Agreement on the London silver＂ signed in 1933 and the ＂Silver Purchase Act＂ by United States in 1934 had formed a huge blow to the silver standard in China. A large number of silver in China＇s market flowed to the United States, resulting in domestic deflation and falling prices. Finance and the economy suffered an unprecedented loss. The ROC Government, the financial sector, academia and social organizations had put forward their own ideas and countermeasures. However, the cognitive biases on silver crisis as well as the tardy policy responses of the ROC Government led to an irreparable situation. Although since then a series of emergency measures including imposed a silver export taxes, combated silver smuggling and sought assistance from Britain and the United States had carried out, however, it appeared to have little effect in general. The deterioration of the economy caused by the sluggish policy responses, the fear to offend the United States, the silver exports of foreign banks, the reluctance to provide substantial assistance of Britain and the United States, the destruction of the Japanese and the domestic natural disasters, had become the major reason for the ROC Government＇s failure to resolve the silver crisis.