论国民政府财政的不经济增长:以卷烟业中的税和债为线索  

On the Uneconomical Growth of the Nationalist Government's Finance:Taking Taxes and Debts in the Cigarette Industry as Clues

作　　者：于广 YU Guang

机构地区：[1]上海社会科学院历史研究所

出　　处：《社会科学》2024年第6期69-84,共16页Journal of Social Sciences

基　　金：国家社会科学基金青年项目“近代上海外资企业纳税研究(1895—1937)”(项目编号:20CZS054)的阶段性成果。

摘　　要：增加税收与发行债券,是国民政府解决财政危机的重要办法。在国民政府的统税收入中,有接近八成来自卷烟,以卷烟统税为担保品的卷烟国库券亦是国民政府最早发行的债券之一。国民政府初期有意恢复政府债信,每笔卷烟国库券都有税收的具实担保,但国库券的市场价格却持续走低,与税收增长形成背离。受“大萧条”等一系列经济和政治的不利因素影响,1932年国民政府取消了债券的具实担保,鼓励金融界向公债市场投资,公债价格反而出现与税收齐升的局面。然而,由此带来的财政增长是一种不经济增长,一定程度上阻碍着实业经济的良性发展,为日后国民政府的财政崩溃埋下伏笔。Increasing taxes and issuing bonds are important measures for the Nationalist government to solve the financial crisis.Nearly 80%of the Nationalist government's consolidated tax revenue comes from cigarettes,and the cigarette treasury bonds,which are backed by the consolidated tax on cigarettes,are also one of the earliest bonds issued by the Nationalist government.In the early days of the Nationalist government,there was an intention to restore government credit,and each cigarette treasury bill had tangible tax guarantees.However,the market price of treasury bills continued to decline,which deviated from the growth of tax.Affected by a series of economic and political unfavorable factors such as the Great Depression,the Nationalist government cancelled the tangible guarantee of bonds in 1932 and encouraged the financial sector to invest in the government bond market.As a result,the price of government bonds rose in line with taxation.However,the resulting fiscal growth is an uneconomical growth that to some extent hinders the healthy development of the industrial economy,laying the groundwork for the financial collapse of the Nationalist government later.

关 键 词：财政 税收 债券 卷烟 不经济增长 

分 类 号：K26[历史地理—历史学]