Research on the Agreed Exchange Rate of Silver and Copper Coins in Fujian Contract in the Qing Dynasty
In Fujian contract in the Qing Dynasty,especially in the Dian contract,there was a long-term and a large number of records of the exchange rate between silver and copper coins.Some exchange rates are relatively fixed and lower than the market exchange rate,some are floating and close to the market exchange rate.For those relatively fixed exchange rates,the research community once thought that the silver mentioned in it was a false reference,and there were also some that considered the silver value to be the real Dian price.This article points out the mistakes and proves that the exchange rate between silver and copper coins in this format is only a special expression of copper coin price of subject matter.Putting the various exchange rates between silver and copper coins in the Dian contract has the characteristics of inter-period redemption,the scope of use of copper coins is expanded,and the market exchange rate is constantly fluctuating to understand,then the land transaction will be integrated with the hedging-arbitrage behavior of currency exchange,forming a special Land financial market.The correct interpretation of the different money exchange rates in Dian contract plays an important role in interpreting the contract,understanding the difference between the accounting currency and the actual transaction currency,and understanding that people at that time would adopt specific strategies in multi-currency intertemporal transactions.
Qing DynastyFujian ProvinceDian ContractSilver and Copper Coins Exchange RateLand Finance
NETL
NSTL
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