Hubu Guanpiao

rdf:langString Hubu Guanpiao

rdf:langString center

rdf:langString May 2020

rdf:langString

rdf:langString "Among families in Beijing who have received government notes, the wealthier ones have already paid them as contribution [i.e. bought offices], the poorer families hold the bills in their hands without a place to exchange them into copper cash, so they are forced to sell them at discount prices to treacherous dealers who have monopolized the acquisition of contributions and in this way return the bills [to the Treasury]."

rdf:langString bìng zhǔn àn bù

rdf:langString dìng zhāngchéng dā

rdf:langString guān piào fán yuàn

rdf:langString huàn yínqián zhě

rdf:langString hù bù zòu xíng

rdf:langString jiàng guān piào duì

rdf:langString jiāo guān xiàng wěi

rdf:langString "This official banknote is authorised by the Ministry of Revenue of the Great Qing Empire. The nominal value of this banknote is equal in exchange to the silver tael. It is permissible to pay official government taxes with this banknote. Counterfeiters will be severely punished to the full extent of the law"

rdf:langString yǔ yín yīlǜ

rdf:langString zhìzuì bù dài

rdf:langString zào zhě yī lǜ

rdf:langString unclear number

rdf:langString - Extract from Zhou Yumin . Wan-Qing caizheng yu shehui bianqian . p. 196.

rdf:langString The Hubu Guanpiao (Traditional Chinese: 戶部官票, "Ministry of Revenue Government notes") is the name of two series of banknotes produced by the Qing dynasty, the first series was known as the Chaoguan (鈔官) and was introduced under the Shunzhi Emperor during the Qing conquest of the Ming dynasty but was quickly abandoned after this war ended, it was introduced amid residual ethnic Han resistance to the Manchu invaders. It was produced on a small scale, amounting to 120,000 strings of cash coins annually, and only lasted between 1651 and 1661. After the death of the Shunzhi Emperor in the year 1661, calls for resumption of banknote issuance weakened, although they never completely disappeared. Over the course of its 268 years, the central government of the Qing dynasty (1644–1912) issued traditional Chinese paper money (vertically printed) only twice. The second time was included the second series of the Hubu Guanpiao which was introduced under the Xianfeng Emperor in response to the high military expenditures there government had to spend during the Taiping Rebellion, this second series was introduced alongside the copper-alloy cash coins-based Da-Qing Baochao (大清寶鈔) banknotes. However, the government did not keep adequate reserves of hard currency to back the new banknotes up and many provincial governments didn't allow for taxes to be paid using paper money, after a few years the government started refusing to convert the new paper money into hard currency and the Chinese people started to distrust it as a valid medium of exchange. In response to the ever more expensive military expenditures because of the Taiping Rebellion the government started producing more and more high denomination banknotes which were not convertible causing hyperinflation, in the year Xianfeng 8 (1858) the government completely depreciated the Hubu Guanpiao series in favour of the Da-Qing Baochao. By the year Xianfeng 9 (1859) the Da-Qing Baochao had also become completely depreciated and was ultimately abolished.