Study on the National Government's Relief Bonds in 1929
In the Autumn of 1928,a severe drought broke out in the northwest region of China,and secondary and derivative disasters spread throughout the country.At this time,Feng Yuxiang,who was entrenched in the northwest,actively promoted the issuance of relief bonds by the National Government in January 1929 in order to provide relief to the victims and consolidate his strength.Chiang Kai-shek also wanted to restore the authority of the government in this way,so he established the National Disaster Relief Committee as a unified relief organization,and adopted a series of fundraising measures,such as financial allocation,provincial aid,and donations,but found that only the issuance of public bonds was the most efficient and the most fund-raising.Although the lack of national credit and the deterioration of the relationship between Jiang and Feng were deeply restricted in terms of issuance timeliness,quota,distribution ratio and actual income,as a modern financial means,it could stabilize the actual income at about 2/3 of the face value without affecting the efficiency of relief as much as possible,prompting the government to raise funds more than tens of millions,which was the most important source of relief at that time,and became a common practice.
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