The Evolution And Impact Analysis Of Yingkou Furnace Silver

Yingkou Guoluyin or furnace silver was the most characteristic and influential currency system in the late Qing period.It had influenced Yingkou and Northeast area a lot.This currency system emerged around the 1860x-1870 s,which had functioned well from 1880 s to 1900 s.Later,it was destroyed by various reasons.Although the Guoluyin has been constantly adjusted in the system,it eventually declined in a turbulent political situation.Operating in the currency market by providing large trade payments plus short term loans and bank drafts and cushioning transaction risks,it promoted the economic development of Yingkou and Northeast China,and played a positive role in promoting the development of business and finance.Guoluyin is similar as other Xuyinliang systems,so that it is significant to study how Guoluyin functioned and developed in detail.In this paper,by using research methods of literature research and interdisciplinary,multi-angle to analysis Yingkou Guoluyin,based on the analysis of the evolution of Guoluyin,the theory of finance is used to study the Guoluyin.This essay has three parts.It has analysed the developing process of Guoluyin,including the cause,transformation process,the establishment of Maoqi accounts system,and the influence of wars and enterprise bankruptcy in part one.In part two,the essay has introduced the institution of Yinlu and its five functions,the development and change process of the Yinlu,the relationship between the capital,the soybean oil industry and draft bank.The third part is about the analysis of the influence of Guoluyin system,including the commercial trade and the financial market.The impact on commercial trade is mainly reflected in the provision of clearing facilities for local commercial trade,settlement convenience for Shanghai's import trade,and credit support for the turnover of business capital.But at the same time,the speculation of the Yinlu and the unlimited liability system of the traditional enterprises have also hurt the merchant in Yingkou.The influence on the financial market is mainly reflected in the credit intermediary and credit creation of the Yinlu.The connection with Shen Hui provides the basic currency for the Guoluyin,which has lost the basic pricing monetary function.And through the interaction between trade and Huishui,it ultimately affected the financial market of Yingkou.Effect of Maoqi clearing system for Huishui and other currencies in price.However,due to the imperfections in the system,Yinlu overissue bond especially in the wars and political turmoil that caused the Yinlu's fragile settlement system to be repeatedly hit,and the merchant's interests were hurt.The final conclusion will give a brief account of the reasons for the decline of Guoluyin and its reference to the development of modern economy and finance.The thesis holds that the real economy is the lifeblood of the national social development,and the finance serves the real economy,and the development of the real economy is the primary task.Secondly,we should constantly improve the financial supervision system.The security and stability of finance is an important basis for the economic development of the country and the region.