After the "July 7 Incident" in 1937, China entered a period of all-out war of resistance. The Kuomintang government at that time saw the people's patriotic enthusiasm and decided to take the opportunity to issue public bonds. The "National Salvation Bond" was issued in such a context.
The "National Salvation Bond" was the first treasury bond issued after the outbreak of the War of Resistance Against Japanese Aggression, and the amount of public bonds issued before the War of Resistance Against Japanese Aggression was the largest.
On September 1, 1937, the "National Salvation Bond" began to be issued, with a planned issuance of 500 million yuan, and the issuance plan was basically completed. Why is the distribution so good? The first public bond of the Republic of China, the military bond of the Republic of China, introduced in my previous article, plans to issue 100 million yuan, and actually completed more than 10 million yuan. Why are these two bonds so different?
The issuance of "national salvation bonds" has three characteristics. First, when purchasing bonds, in addition to cash, other valuable items can also be used. Second, take advantage of the patriotic enthusiasm of the people, set up points everywhere, and buy them anywhere. Third, set up reward clauses.
There are six denominations of "national debt for national salvation" of 5 yuan, 10 yuan, 50 yuan, 100 yuan, 1000 yuan and 10,000 yuan, which have been repaid since 1941, and are drawn once a year and repaid in 30 years. But then the Kuomintang government's economy collapsed, and the 100 yuan denomination of public bonds could only be exchanged for 4 corners of gold round bonds, and in the end it was not paid off, and in the end, most of the buyers had no return of principal and interest.
The market price of this set of "national salvation bonds" varies according to the size of the denomination, especially the large denomination is difficult to collect.
It is worth noting that the paper of this set of bonds is different in denominations, for example, the 10 yuan public bond is much thicker than the 5 yuan public bond paper, and the 5 yuan public bond paper is soft.
Due to the coupons of the Republic of China, the coupons of the Republic of China are generally very large, but they are generally of good quality.
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