北洋政府时期的地方公债探析  

A Study on the Local Bonds During the Period of Northern Warlords Government

作　　者：潘国旗[1] Pan Guoqi(School of Political Science and Social Studies,Hangzhou Normal University,Hangzhou 311121,China)

机构地区：[1]杭州师范大学政治与社会学院,浙江杭州311121

出　　处：《浙江大学学报（人文社会科学版）》2018年第4期216-226,共11页Journal of Zhejiang University:Humanities and Social Sciences

基　　金：教育部人文社科规划基金项目(10YJA770038)

摘　　要：北洋政府时期,大小军阀各霸一方,连年混战,财源枯竭,地方财政陷于困境。为维持庞大的军费开支,各地方政府除截留国税、增加苛捐杂税外,还募债以资挹注。这一时期江西、浙江等17省(区、市)发行的14 579.96万元地方公债中超过66%被用于军政费用,弥补财政不敷;其余债款则用于兴办实业、筑路修桥、赈灾善后和整理金融,对发展地方事业、稳定地方金融起到了一定的积极作用。During the rule of the Northern Warlords Government, there were constant wars among warlords, and military expenditure became an overwhelming burden and made local financial revenue decreased rapidly. To settle the fiscal difficulties, local governments resorted to every conceivable means to increase revenue, such as withholding the national tax, establishing new items of local taxes, and issuing local bonds. For lack of archives, there has been scant research on the local bonds during the rule of Northern Warlords Government. A study on the fiscal archives during that period shows that 17 provinces or cities issued 145,799,600 yuan of local bonds. The top 6 provinces were Jiangxi, Zhejiang, Guangdong, Hunan, Jiangsu and Zhili, which accounted for more than 72G of the total amount of local bonds issued during that term. About 24.95 % of the money （36,384,100 yuan） covered military expenditure, about 24. 57 （35,817,000 yuan） made up the fiscal deficit, and about 17.18% （25,054,000 yuan） were used for the repayment of old debts. As most governors at that time controlled not only the army, but also the administration and judiciary, it is indisputable that about 66. 7% of local bonds （97,255,100 yuan） were used for military expenditure. Therefore, it is safe to conclude that a large amount of the local bonds of the Northern Warlords Government ＂served the warlords in their fights, and had a distinct feudal military nature＂. On the other hand, since the Northern Warlords Government was a transitional period from a traditional Chinese society to a modern one, the issuing of local bonds was historically progressive. Firstly, compared with forced borrowing, blackmail and prepaying, the issue of bonds by the local government to cover military and government expenditure was undoubtedly a kind of progress, because bonds were conducive to the establishment of the concept of credit and the credit system, which was in accordance with the development of modern finance. Secondly, although 66% of the local bon

关 键 词：北洋政府 地方公债 军费 地方事业 地方金融 

分 类 号：F812.9[经济管理—财政学] K258.2[历史地理—历史学]