The Rubber Agitation In The Qing Dynasty And Interaction Between Government And The Public

Four bank Collapse Crises occurred in late Qing dynasty,they are the agitation of close down and bills due bankruprcy in 1883,the discount crisis in 1897,the rubber agitation in 1910 and the bank collpse crisis in 1911 revolution. Comparing the impact,the rubber agitation was worse than the two previous crises. The bankruptcy of three banks,Zheng Yuan,Qian Yu,Zhao Kang, triggered the first wave of bank collapse; the exchange shops of Yuan Feng Run goes bankrupt, triggered a second wave of bank collapse. Financial turmoil had a tremendous impact on economic and political situation of the late Qing dynasty.The Governor General,Zhang Renjun secretly authorized CaiNaihuang to borrow a loan 3.5 millions from foreign banks. However, The Jiangsu parliament and the state council didn't permitt the loan,they think the Governor General violated the the rights of parliaments, Which gave rise to struggle against Zhang Renjun. Capitalization of the railway, Wuhan to Sichuang, was deficient in this agitation.one million and 40 thousands of the loan has been repaied to foreign banks, ignoring the stock of ChuanHan railway company, the shareholders considered that the behavior violate banks rule. In addition,the management of stock is in a muddle,the shareholders of company demanded the prime minister,Qiao Shu'nan, be responsible for the lost stock, Post department has been partial to Qiao Shu'nan. the shareholiders required to reshuffle the prime minister,Qiao Shu'nan,and look into the responsibility of Shi Dianzhang and the post department.when Sheng Xuanhuai was appoint to post minister, he intended to take back the construction right of the lines,and refused to compensate the lost stock of railway company,then give the last stock back to shareholders in the form of shares.which is undoubtedly a critical strike to shareholders. Post department not only nationalized the railway,but also took away the stock.the people of Sichuan province established leage for protecting the railway,set off the railway constraction right regainning movement. The chain reaction of the rubber agitation vibrated the poliical situation, disrupted the fragile financial order, which had an great effects in Qing Dynasty.