During the period of Beiyang government, in February of the third year of the Republic of China (19 14), in order to rectify the monetary system and draw a silver coin, Beiyang government promulgated Article 13 of the National Monetary Regulations and decided to implement the silver standard system.
The National Monetary Regulations stipulates: "Cooper sterling silver costs 648 cents and is named Yuan", "one silver coin, with a total weight of 72 cents, 89 silver coins and one copper coin", and "there is no limit to the number of silver coins used", that is, one silver coin is the standard lending currency with unlimited legal compensation.
During the period of Nanjing National Government, Nanjing National Government began to issue legal tender on 1935, and issued gold certificates on 1948. During the Republic of China, the monetary system was complicated, and all provinces, warlords and separatist regimes issued their own currencies.
Extended data:
I. Legal tender
In the 1920s and 1930s, influenced by the fluctuation of international gold price and silver price, China's domestic silver continued to flow out, the silver-based monetary system was unsustainable, and domestic currency issuance was chaotic.
1935, the national government carried out legal tender reform, stipulated that the banknotes issued by the Central Bank, Bank of China and Bank of Communications were legal tender (later, the Farmers Bank of China), prohibited the circulation of silver dollars, and implemented nationalization. During the civil war between War of Resistance against Japanese Aggression and the Kuomintang, the fiat currency depreciated sharply, thus completely collapsing.
Second, the gold certificate.
Due to the sharp depreciation of legal tender, the National Government carried out the monetary system reform again on August 1948. According to the standard of gold and silver dollar, issue gold and silver dollar coupons (each gold dollar contains 0.438+07 grams of pure gold). However, the expansion rate of gold and silver coupons is faster than that of legal tender, which has increased by 6.5438+0.7 million times in 654.38+00 months, and all localities refused to use them. The people automatically re-used the silver dollar, so the national government used the silver standard currency system and issued silver dollar coupons.
Baidu encyclopedia-currency of the Republic of China