The Research On Pingsui Railway Debts (1905-1937)

Railway finances is the lifeblood of the railway which relate to the survival of a nation. India,Korea are subjugated because of the construction of Bangladesh,Gyeongbu railway.Instead,the United States,Germany are growing prosperity because of the construction of the railway.The difference between the two is that the former railroad property rights belong to someone else the later belong to them.After the Sino-Japanese war,imperialism set off dividing China.fight to the right to build railway in China.Where the railway construction,imperialism sphere of influence expand to. In view of this,Qing government start to build railway use own engineer and funds.This is the origin of the Beijing-zhangjiakou railway.After the successful construction of the Beijing-zhangjiakou railway,the Qing government was encouraged to build this railway to the city of Suiyuan.However,when the exhibition building to Yanggao county,the xinhai revolution broke up,soon the Qing government was overthrown,The republic of China was established,the funding of Pingsui railway was reduced.The Pingsui railway administration beginning to borrow money.Begining hopes domestic debt,later they had to borrow foreign debts.After 1925,because of the domestic situation unrest,frequent wars,the pingsui make ends meet,the old debts had repay,the new debts underway.This article focuses on the debt problems of Pingsui railroad,described the origins of Pingsui debt and the process of the debt formation, hold on that the Pingsui railroad firstly raise domestic bonds raise funds for railway construction.In the case of domestic public debt had raised,the Pingsui railroad imitated a new way to borrow foreign debt,that is domestic bonds as collateral to borrow foreign debt,change the internal debt to external debt,this way of borrow external debt is relatively reasonable way.Analyzes the cause of the Pingsui railroad debt. Conside the situation in the Republic of China during the unrest,frequent wars,plus heavy taxes along the railway line,railway own corruption,ultimately resulting in Pingsui railway debt.Finally,introduce the Pingsui railway debt consolidation situation during the rule of the Nanjing national government,which resolved the Pingsui debt problem.