中国纸币起源(下)

Origin of China's Paper Money(Ⅱ)

本文回顾了中国古代纸币的起源及发展历史。纸币和票据在宋朝及其后继诸王朝的财政管理中发挥了重要作用,并在特定时期和地区作为私人贸易的交易媒介,其后宋朝政府接管纸币发行,以通过控制货币供给来管理国家经济,但为应对财政危机过度发行纸币,导致货币贬值和物价上涨。历史证明,国家及其财政政策对于维护纸币的价值至关重要。

This paper review the origin and development history of China＇s ancient paper money. Paper money and bills play an important role in the fiscal management of Song Dynasty and the subsequent dynasties, and act as the the exchange medium in the specific periods and regions.Later, the Song Dynasty took over the ppaer money issuance. It aimed to manage the economy through controlling money supply. However, it over-issued money in order to cope with financial crisis and led to the devaluation of money and price hike. The history proves that the country and its fiscal poli- cy is of vital importance to the maintenance of paper money＇s value.