Tips: The early national bonds refer to (1950~1958); the Central People's Government of the People's Republic of China issued the national bonds for the domestic in order to accelerate the national economic construction and gradually improve the people's material and cultural living standards: including: the 1950 People's Victory Discounted Public Bonds, 1954~1958 National Economic Construction Public Bonds (the treasury volume in the eighties is not in the period).
In 1954, it began to issue public bonds to the country.
From 1954~1958, China issued five consecutive "national economic construction bonds". Except for $630 million in 1958, the planned issuance amount of public bonds was $600 million on the other four occasions, all of which were measured in renminbi and had an interest rate of 4% per annum. Except for 1954, when the principal was repaid in eight installments over an eight-year period, the remaining four repayments were over a period of 10 years, and were repaid in 10 instalments. Interest is paid annually during the repayment period. By 1968, the principal and interest of the bond had been fully repaid.
These five public bond issuances were all overcompleted, and the actual issuance amount totaled 3.544 billion yuan, exceeding 16.96% of the planned issuance. In particular, the public bonds issued in 1954 exceeded the planned amount by 39.33%, amounting to 836 million yuan. This public bond is mainly issued to urban private industrial and commercial enterprises, private personnel of public-private joint ventures, and employees of government agencies and organizations.
The People's Bank of China and its subordinate institutions shall not be used as currency for circulation and shall not be mortgaged to the State Bank and public-private joint venture banks in matters concerning the issuance and repayment of principal and interest. The issuance of public bonds for the state's economic construction has played a good role in realizing socialist transformation and consolidating and strengthening the material foundation of the socialist economy.
The information is taken from the Internet, and the coin collector KT has a person
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In 1950, the people's victory was discounted by 10 percent
The early state bonds of the People's Republic of China.
However, before I speak, I asked you very "friendly" what is public debt? I don't think many people know about it. It's no wonder, though, that this kind of financial term is rarely understood.
In 1987, the national key construction bond was 50 yuan
Public bonds, to put it simply, are when the state or local government is short of money, in order to raise funds, according to its own creditworthiness, to issue certificates of creditor's rights and debts to the purchaser of public bonds, and promise to pay interest and repay the principal due within a certain period of time. Doesn't it feel very similar to a bank? Treasury bonds, on the other hand, are guaranteed by the country's credit, and the issuer is the state, so it has the highest creditworthiness.
(PS: Public bonds may be issued by local governments or a certain company, while government bonds are issued by the state)
SCENE 1 人民胜利折实公债
In 1950, the People's Republic of China had just been founded, and all industries were waiting to be developed. However, in the face of the mess left over, in order to raise funds, New China had no choice but to issue treasury bonds for the first time, that is, "people's victorious discounted public bonds," which were issued by "cents," with four types of public bonds: 10 cents, 10 cents, 100 cents, and 500 cents, with a total issuance of 100 million cents.
The face value of the People's Victory Discounted Public Bond is measured in "cents", but it is different from the "cents" of the renminbi and can be understood as "cents".
1950 People's Victory Discount Public Debt Leaflet
The bonds have been issued for just over two months (5 January to 31 March) and only the first tranche has been issued. The interest on public bonds does not begin to accrue as soon as they are issued, taking the people's victory discount public bonds as an example, it only began to calculate interest from April 1, with an annual interest rate of 5%, and it will be repaid in five years, that is, from 1951 to 1955, every full year, the principal will be repaid by lottery and the interest will be paid once, and 10% of the total public debt will be repaid in the first year, and then 5% will be increased annually
As for the number of public bonds to be issued, Chen Yun carefully studied and believed that 120 million silver dollars (equivalent to 240 billion yuan of old yuan) could be issued.
"China is so vast that the amount of public bonds issued by 120 million silver dollars is not very large. Chiang Kai-shek had a little place left, and he had to issue 200 million silver dollars in public bonds. "Northeast China has a population of 40 million, and the proportion of the private sector is much lower than that in Guannai, and the first phase of the two tranches of public bonds of 12 million silver dollars has been completed on schedule. The proportion of the private economy in the Kannai is much larger than that in the northeast, and the amount of public debt can be set at a larger level. ”
Among them, the pattern of the 100-cent coupon is "road roller and factory", the pattern of the 10-cent coupon is "the worker, peasant and soldier standing on the earth holding sickles, hammers, red flags, and steel guns", the pattern of the 100-cent coupon is "Tiananmen Square with crowds like the sea and the red flag like a forest", and the pattern of the 500-point coupon is "a knight holding the August 1 military flag and galloping on a horse".
In 1950, the people's victory was discounted by one cent of the public debt
In 1950, the people's victory was discounted by 10 percent
In 1950, the people's victory was discounted by 100 percent
In 1950, the people's victory discounted the public debt by 500%.
On the back of the public bonds are the "Regulations on the First Issue of the People's Victory in Discounting Public Bonds in 1950," as well as the signature of Pu Yibo, then Minister of Finance, and the red seal of the "Seal of the Ministry of Finance of the Central People's Government."
In 1950, the People's Victory discounted the back of the public debt
However, it should be noted that there is no 200% denomination in the public bonds, and the 200% discounted public bonds found on the Internet are actually a fake coupon, but this fake coupon is so fake that retail stores have to label it as a "fabric"...
1950 People's Victory Discounted Public Debt 200% (Fabrication)
It has been 73 years since the discounted public bonds, and their stock is less than that of the first set of renminbi, especially 100 and 500 cents, and there is almost no physical object. After the issuance of the first issue, the country's financial and economic situation improved significantly, so the second issue was suspended, and the government at that time was still very cautious about issuing bonds.
SCENE 2 1954~1958 National Economic Construction Public Bonds
After the end of the War to Resist US Aggression and Aid Korea in 1953, the mainland had to vigorously develop its economy next. However, at that time, the foundation of the national economy was weak, and the task of industrialization was very arduous, and it was impossible to do without money. As a result, the central government decided to issue "national economic construction bonds" from 1954 until 1958. This is the second time that New China has issued treasury bonds after the "People's Victory Discounted Public Bonds" in 1950.
The annual interest rate of bonds in 1954~1958 was 4%, and the interest was paid once a year. The repayment period is 10 years, except for the bonds issued in 1954, which were repaid in 8 years.
This kind of bond, like the "people's victory discounted public bond," is mainly issued to urban private industrial and commercial workers, employees of enterprises and institutions, and personnel of government agencies and organizations. From 1954 to 1958, the national economic construction bonds were issued for a total of five years, with a total of 12 types of bonds and 29 types of bonds.
1. 1954
The 1954 construction bonds had five denominations: 10,000 yuan, 20,000 yuan, 50,000 yuan, 100,000 yuan, and 500,000 yuan.
The pattern of 10,000 yuan is "combine harvester", the pattern of 20,000 yuan is "automobile transportation", the pattern of 50,000 yuan is "railway and factory", the pattern of 100,000 yuan is "mechanical threshing floor", and the pattern of 500,000 yuan is "train and factory".
In 1954, the national economic construction public bond was 10,000 yuan
In 1954, the national economic construction public bond was 20,000 yuan
In 1954, the national economic construction public debt was 50,000 yuan
In 1954, the national economic construction public debt was 100,000 yuan
In 1954, the national economic construction public bond was 500,000 yuan
1954 National Economic Construction Public Bond Vertical Plate Back (50,000 Yuan)
1954 National Economic Construction Public Bonds Horizontal Back (100,000 Yuan)
On the back of them are the "Public Debt Regulations" and the seal of the Ministry of Finance. Among them, 10,000 yuan, 20,000 yuan, and 50,000 yuan are vertical plates, and 100,000 yuan and 500,000 yuan are horizontal plates.
2. 1955
In 1955, the government issued bonds in six denominations: 10,000 yuan, 20,000 yuan, 50,000 yuan, 100,000 yuan, 500,000 yuan, and 1 million yuan.
Among them, the design of 10,000 yuan, 20,000 yuan, and 50,000 yuan coupons is relatively simple, and they are all "face value and flower clusters". But don't worry, the face value of 100,000 yuan and above is not coming.
In 1955, the national economic construction public bond was 10,000 yuan
In 1955, the national economic construction public bond was 20,000 yuan
In 1955, the national economic construction public bond was 50,000 yuan
The pattern of 100,000 yuan is "excavator", the pattern of 500,000 yuan is "combine harvester", and the pattern of 1 million yuan is "steel mill".
In 1955, the national economic construction public bond was 100,000 yuan
In 1955, the national economic construction public bond was 500,000 yuan
In 1955, the national economic construction public bond was 1 million yuan
On the back of them are the "Public Debt Regulations" and the seal of the Ministry of Finance. Among them, 10,000 yuan, 20,000 yuan and 50,000 yuan are vertical plates, and 100,000 yuan, 500,000 yuan and 1 million yuan are horizontal plates.
1955 National Economic Construction Bond (100,000 yuan)
3. 1956
By 1956, the renminbi was also upgraded, and the first set of renminbi was replaced by the second set of renminbi.
As a result, from 1956 onwards, the value of the bonds changed to new currencies, and the ratio of new currencies to old currencies at that time was 1:10,000. The 1956 construction bonds were available in six denominations: one yuan, two yuan, five yuan, ten yuan, fifty yuan, and one hundred yuan.
The one-dollar, two-dollar, and five-dollar bonds are a good continuation of the "tradition" of low-face bonds in 1955, that is, they are all "denominations and flowers".
In 1956, the national economic construction public bond was one yuan
In 1956, the national economic construction public bond was two yuan
In 1956, the national economic construction public bond was five yuan
The pattern of ten yuan is "combine harvester", the pattern of fifty yuan is "railway transportation", and the pattern of 100 yuan is "coal digger".
In 1956, the national economic construction public bond was 10 yuan
In 1956, the national economic construction public bond was 50 yuan
In 1956, the national economic construction public bond was 100 yuan
On the back of them are the "Public Debt Regulations" and the seal of the Ministry of Finance. Among them, one, two, and five yuan are vertical versions, and ten, fifty, and one hundred yuan are horizontal versions.
Have you ever found a pattern? Low-value bonds are vertical, and high-value bonds are horizontal.
1956 National Economic Construction Bond Back (10 Yuan)
4. 1957
The 1957 construction bonds were available in six denominations: one yuan, two yuan, five yuan, ten yuan, fifty yuan, and one hundred yuan.
The one-yuan pattern is "mechanical threshing floor", the two-yuan pattern is "tractor transporting timber", the five-yuan pattern is "exploration team", the ten-yuan pattern is "Kang-Tibet road transport fleet", the fifty-yuan pattern is "Guanting Reservoir", and the hundred-yuan pattern is "modern coal washing plant".
In 1957, the national economic construction public bond was one yuan
In 1957, the national economic construction public bond was yuan
In 1957, the national economic construction public bond was five yuan
In 1957, the national economic construction public bond was 10 yuan
In 1957, the national economic construction public bond was 50 yuan
In 1957, the national economic construction public bond was 100 yuan
On the back are the "Public Debt Regulations" and the seal of the Ministry of Finance. BTW (by the way), the six denominations of the 1957 bonds, without exception, are all horizontal.
1957 National Economic Construction Bond Back (10 Yuan)
5. 1958
The 1958 construction bonds were available in six denominations: one yuan, two yuan, five yuan, ten yuan, fifty yuan, and one hundred yuan.
I don't know if I'm lazy, the 1958 bond pattern is the same as the 1957 bond pattern, but there is no coupon, and the back is still the eternal "Public Debt Regulations" and the seal of the Ministry of Finance.
In 1958, the national economic construction public bond was one yuan
1958 National Economic Construction Public Bonds Dualized 1958 National Economic Construction Public Bonds Dual
In 1958, the national economic construction public bond was five yuan
In 1958, the national economic construction public bond was 10 yuan
In 1958, the national economic construction public bond was 50 yuan
As everyone knows, 1958 was a very special year, when the "Great Leap Forward" and "pompous style" arose, the country's economic order was disrupted, and the issuance of treasury bonds was forced to suspend after this year, and it was not reissued until several decades later.
Conclusion
The bonds issued in the early days of the People's Republic of China were not very large, and they were not very beautifully printed, but they reflected the economic policies and conditions of the early years of the People's Republic of China and played a huge role in the country's economic construction. In particular, early bonds are rare, making them too expensive to afford.