The ever-normal granary system was an official granary management system in ancient China. Throughout its existence, the system functioned as a major means of adjusting the price of grain and provided disaster relief. Few studies on the system touches upon the relationship between grain price fluctuation and the development of the grain market, or the ever-normal granary system and its related economic school of thoughts. Starting with the development of the grain market and the relationship between the price of grain and grain reserves, and through a systematic review of the debate on the ever-normal granary system and grain prices among high-level officials of the Qing government in the 13th year of Emperor Qianlong’s reign (1748), this paper analyzes the historical process and reasons for the change in thoughts on the ever-normal granary system and discusses the historical path of how economic phenomenon gave rise to the clash of economic thoughts that influenced the evolution of this economic institution.

日俄战争后,大连逐渐发展成为东北地区对外贸易和资金的周转中心.由于金银两种货币同时流通,使大连成为连接日本、东北和上海的桥梁,东北特产物的出口须经大连结算,同时大连也是东北与日本、东北与上海进行货币兑换和资金汇兑的重要枢纽.大连钱钞市场和汇兑市场休戚相关,为大连与上海及东北内地间的资金汇兑和投机套利提供了交易场所.20世纪20年代后,两地贸易收支差额有所扩大,但银价差额逐步缩小,投机交易对银价差缩小的向心力大于贸易收支差额对银价差的离心力,表明两地货币市场联动更加紧密,市场运行效率有所提升.大连虽为日本的租借地,但其与东北内地和上海的经济联系却更为紧密.

自工业革命以来,人力资本在经济发展和社会变革中发挥了越来越重要的作用.但由于难于区分教育的技能效应和信号效应,人力资本与工资溢价之间的关系仍然存在不确定性,而近代时期的新旧教育长期并存,为我们深入讨论劳动力市场的异质性问题提供了历史基础.文章基于20世纪30年代上海商业储蓄银行职员档案的微观数据,考察了新式教育对银行职员工资的影响及其机制.研究表明:(1)相对于传统教育,新式教育有着明显的工资溢价,较高程度的学校教育具有较高的工资回报;(2)新式教育的工资溢价主要来自于劳动者工作技能的提高,而不是信号效应;(3)由于具有较高人力资本的职员具有更强的工作能力和适应新工作的能力,因此晋升速度和部门调动(在行内的工作经验)是实现其工资溢价的重要机制.文章不仅为近代社会的教育回报提供了实证案例,而且通过历史案例推进了工资回报与劳动力异质性关系的研究深入,也为理解人力资本在近代中国的经济转型和发展中的作用提供了一个微观视角.

The competition between foreign currencies and domestic currencies is a phenomenon that exists in many developing countries, and it is one of the hot issues in the study of the international currency. An important feature of the currency market in modern China is the long-term circulation of foreign banknotes in China. Foreign banknotes have been circulating in China since the 1870s, while domestic banknotes gradually emerged after the 20th century. After the 1920s, they became increasingly prosperous, forming a competing situation with foreign banknotes. As the most widely circulated area of domestic banknotes, Northeast China is also popular with foreign banknotes. After the 1920s, a competitive monetary system dominated by Fengpiao issued by the official Northeast bank and Jinpiao issued by a Japanese bank was gradually formed.This paper constructs a theoretical model of currency search, and combines the theory of seigniorage, taking the Northeast currency market as an example to explore the mechanism of the currency competition between the two currencies. According to the results of the model, with the change in the exchange rate of the two currencies and the constraints of government policies, the Northeast currency market formed two different competitive equilibriums before and after 1925. Although Jinpiao was subject to the policy of Fengtian authorities in the competition with Fengpiao, it still played an important role in the Northeast currency market. The increasing circulation of Fengpiao reduced the credit of it, and replaced it with Jinpiao. This is an important reason for the continued circulation of Jinpiao in the Northeast.This paper shows that when domestic currencies face the threat of foreign currencies, if the government only restricts the circulation of foreign currencies and ignores the improvement of the credit of domestic currencies, it is difficult to prohibit the use of foreign currencies. Currency competition mainly depends on currency credit, and currency credit is subject to maximizing seigniorage. The decline in money demand is an important factor restricting the government’s issuance of banknotes. An important way to reduce the demand for domestic money is to find alternative currencies. Therefore, the government can balance the currency circulation and money demand to ensure a certain amount of seigniorage and maintain good currency credit, so that the domestic currencies can occupy a dominant position in the competition.In short, this paper mainly contributes in three aspects: First, it supplements and deepens the understanding of the reasons for the circulation of foreign banknotes and the competition mechanism, and makes up for the lack of research on the foreign currency circulation in modern China. Second, it provides empirical evidence for the theory of the currency competition, and demonstrates the important role of currency credit in competition. Third, it deepens our understanding of the current international currency competition and the internationalization of RMB, and provides strategic guidance for the internationalization of RMB. Only by upholding the long-term stability of RMB and building good government credibility, can we promote its competitiveness in various currencies.

汇兑市场是近代中国金融市场的重要组成部分,内汇市场的变迁既是商品贸易日趋繁荣的体现,同时也反映了近代中国金融市场的发育过程.近代中国内汇市场的经营主体经历了从以票号汇兑为主,到以钱庄和票号为主,再到钱庄与新式银行并存,最后以银行为主导的发展过程.相应的汇兑方式也从票号的票汇,发展到将传统的顺汇与外埠期票及押汇相结合的多种汇兑方式并存的汇兑体系.汇兑记账货币从以银两为主,逐渐发展到银洋并用,最终经过废两改元和法币改革,仅以银元和法币计算.随着贸易规模的扩展、 技术进步的推动,近代内汇市场的功能日臻完善,效率日渐提高,资金周转逐步加快,为近代工商业的发展提供了重要金融条件.

从明代中叶起,白银逐渐成为中国经济运行与货币制度中最主要的货币形态.文章从货币供给和信用扩展的机制出发,探讨了近代中国白银货币制度的发展过程及其主要特点,以及由政府主导的币制改革的路径及特点.研究表明:由于政府信用渗透和管理货币的激励不足,白银的货币供给与信用创造主要由民间机构主导,其信用扩张机制包括发行私人银钱票、使用记账与信用货币,以及发展信用票据等途径,进而导致中国逐步形成了由多种不同货币形态和信用层级构筑而成的分散化、区域化的货币体系.在这一背景下,近代中国的币制变革,本质上是将货币主导权从民间商人手中收归政府,确立国家的垄断发行权和公共信用.金银货币本位选择的争论,反映了中央政府、外国列强和地方政府在主导或分享货币发行权方面的博弈;而两元之争和废两改元则是政府与传统民间金融势力之间对货币主导权的争夺.法币改革标志着中国的货币制度由金属货币转变为信用货币,国家在货币发行和管理中的职能进一步强化,随之而来的战争及通货膨胀则对政府的公共信用造成了前所未有的挑战.

日俄战争后,日本金融资本进入我国东北,试图掌控东北地区的货币发行权.面对日本的金融入侵,盛京将军赵尔巽出资设立奉天官银号,铸造和发行小洋为主的金属铸币和小洋票,从而引发中日双方围绕东北货币发行权的较量.日本通过合资银行提案和横滨正金银行的竞争对官银号的设立和发展进行了一系列干预,东北地方政府则与日本殖民势力进行了持续斗争.因此,近代东北地区最重要的金融机构——东三省官银号的设立和最初发展过程,也是日本金融资本、东北地方政府和民间商业行会之间对货币发行权的争夺和博弈过程,并对清末和民国时期东北地方金融体系的发展产生了深远影响,为日后军阀割据提供了经济基础.

近代中国的二元经济结构转变十分缓慢,并没有迅速实现工业化和城市化.与之相对应的是,近代货币制度也呈现出分层化特征,货币市场的分层在很大程度上恰好与现代经济与传统经济的分割相对应.本文基于二元经济理论与实证视角,分析各层次市场之间的传递机制,反映分层化的货币体系与二元经济结构之间的关系,以及货币传导的经济效应和对人民生活水平的影响.研究表明,近代中国的二元货币体系根植于二元经济结构,又与其相互融合、固化形成了一个稳定的均衡,这是造成近代二元经济结构长期维持的一个重要原因.

清代中后期,发商生息成为地方政府运营生息银两制的主要方式,但由于地方性史料阙如,相关研究还比较匮乏.本文利用土默特左旗清代历史档案,探讨了地方政府的发商生息对当地商贸的影响及其相关问题.地方政府的发商生息以地方商贸经济的繁荣为前提.在地方政府发商生息中,存在着商人承领本银、申解利银两方面的流程,这种流程规定体现出对地方商人的不利影响;从归本期限的角度看,地方政府发商生息虽有“生息”之名,而行“分割利润”之实,形成商人沉重的负担.就生息利银的支出用途而言,发商生息则对地方商业贸易的治安环境、商路维护、市场秩序等方面有积极作用.

This essay aims to reconceptualize the monetary regime of late Qing and modern China as a multilayer system of currencies and examine the features and logics of its operation from the 16th century to early 20th century. We argue that this system consists of a variety of silver and copper currencies, each occupying a particular layer in the structure and each satisfying a specific market demand. Analyzing the production and circulation of copper and silver currencies, we first trace their evolution from the Qing to the Republican era and demonstrate the multi-layer currency structure persisted in China across the modernizing changes that took place at the end of the 19th century. Second, using data drawn from gazetteers, this essay adopts a quantitative approach to empirically examine the mechanism and speed of interactions between the different layers of the monetary market and reveal the operational mechanism of the multi-layer system. We suggest that this multi-layer system, while bringing some efficiency loss, also constituted an effective institutional arrangement that helped to ensure the stability of the Chinese economy in tumultuous times.

在近代日本对我国东北的殖民渗透和经济侵略过程中,伴随着货币和金融的争夺与对抗.自日本殖民势力进入东北以来,存在金银货币本位制度的矛盾.采用何种货币本位问题,在日本不同集团之间始终存在争论和对立,导致日本政府长期对东北货币政策摇摆不定.日俄战争后,日本最初计划以横滨正金银行银票争夺东北币制主导权,但却受到关东都督府与满鉄的抵制,后逐渐转变为以朝鲜银行金票推行金本位货币的策略,并试图在大连交易所强行推行,但同样未取得成功.伪满洲国建立前后,货币本位之争再起,银本位依旧占据上风,伪满洲中央银行券仍是以白银为基础的不兑现纸币.直到《日满汇兑等价协议》签订,“满银券”正式脱离银本位基础,被纳入日圆货币体系.全面抗战爆发后,“联银券”、“蒙疆券”、“中储券”等伪币接踵而至,则是日圆侵凌我国金融体系的进一步延续.

通过对财政转变与金融革命关系的分析,表明对税收权力的限制和公共信用不仅是金融革命的关键所在,也是现代金融发育成长的基础和保障.近代以来各国的历史经验表明,经济现代化必然伴随着金融的加速发展,而各国的政府行为、金融条件及发展路径将直接影响其经济发展进程,也是中西方金融“分流”的基本原因.英国和法国在工业革命前就已经进行了长期的金融孕育,美国和西欧各国的现代金融发展或者与工业化同步或者略早于工业化启动,并随着工业化进程构建起现代金融体系.战后的新兴市场经济国家一般都遵循金融发展的“需求导向”,即实际经济部门大多都优先于金融中介启动和发展.改革开放以来,中国的金融深度、金融系统的规模不仅很好地满足了经济增长的需求,而且已经逐渐与主要发达资本国家、新兴市场国家趋同,但在金融结构方面仍有待于进一步优化.推进金融体系改革和发展仍然是当前中国经济转型和现代化不断深入的必然选择.

晚清以来,通行于东北地区的过炉银作为一项极具特色的区域货币和信用体系,为当时的进出口贸易提供了交易媒介和信用工具.纵观过炉银制度从诞生到被废止的70余年的历史,其经历了两个重要的标志性转折,一是1907年的东盛和破产案;二是1918-1919年的西义顺破产风波.东盛和破产是外部冲击长期积累的结果,它标志着过炉银制度的重大调整和市场覆盖范围的逐步收缩.而西义顺破产风波则是商帮之间恶性竞争的结果.随着官方对金融市场管理的逐步强化,政策趋于收紧,过炉银作为一种民间货币逐渐走向衰落.西义顺银炉破产案的发生、破产救济、政府监管和过炉银制度的衰落,从一个侧面反映了近代竞争性货币市场的运行及民间货币的最终命运.

早期的期货市场起源于粮食交易.晚清时期,东北作为新开发地区,豆货产销和出口贸易构成了其经济发展的主要推动力.由于农产品生产、流通与货币交易具有极强的季节性,在现货交易达到一定规模之后,逐渐发展出以远期合约或期货交易为特征的期货市场.东北的豆品期货广泛存在于口岸市场、大集散地市场、产地集散市场和产地市场四级市场网络之中.期货交易主要有批买卖和期粮两种形态,其中尤以集散中心的期粮交易更为重要.期货市场的信用凭证有类似本票的飞子、类似交易合同的批帖与条子等形式.期货市场的基本机能主要体现在价格创造和金融信用分配方面.当时的豆品期货市场不仅发展到相当的水平,而且支撑着整个集散市场乃至外贸体系的有效运行.进入20世纪,随着外国势力的入侵和政府的干预,豆品期货市场乃至整个市场体系的运转和秩序都遭到了很大破坏.

The relationship between economic development and political institutional changes has always been the focus of academic attention. There are still many different interpretations of the causes of political changes during the late Qing dynasty. This paper responds to the discussion of social mobility and the 1911 revolution in the academic circles, takes the sale of offices during the late Qing dynasty as an entry point, and proposes the new hypotheses that trigger the Revolution of 1911through sorting out the factors affecting modern political reform and institutional changes. It shows that the sale of offices is one of the important factors that lead to the outbreak of the Revolution of 1911. The political consciousness and political values of the donation officials not only directly affected the revolutionary response of the areas they served, but also influenced the political attitudes of their native elite through local relation networks. As an important tool for the promotion of social mobility during the late Qing dynasty, the sale of offices not only promoted the rise of modern bureaucratic class, but also advanced the changes in modern political rights pattern through new-style education, popular opposition, revolutionary groups and so on, and accelerated the process of the Revolution of 1911. The sale of offices promotes the changes in modern political system through the influences on class mobility and political consciousness of the officials, which provides an important empirical basis for understanding the changes in Chinese traditional social elite groups and the association changes in political systems.

经济发展与政治变革之间的关系一直是学术界关注的焦点问题.现有研究对晚清时期政治变革的原因仍然存在多种不同的解释,文章回应了学术界关于社会流动和辛亥革命的探讨,以晚清捐官制度为切入点,通过对近代政治变革的影响因素和制度变动进行梳理,提出引发辛亥革命的新假说.研究发现,捐纳是促使辛亥革命爆发的重要因素之一,捐纳官员的政治意识和政治取向不仅直接影响其所任职地区的革命响应,而且也通过乡土关系网络影响其籍贯地精英阶层的政治态度.捐官制度作为晚清提升社会流动性的重要工具,不仅促进了近代新兴官僚阶层的崛起,而且通过新式教育、民众反抗、革命团体等途径推动了近代政治权利格局的变化,加速了辛亥革命的进程.捐纳制度通过对阶层流动性和官员政治意识的影响促进了近代政治制度的变革,这为我们理解中国传统社会精英群体的转变和政治制度间的关联变动提供了重要的实证依据.

营口“过炉银”这一货币制度大体形成于19世纪七八十年代,并在世纪末之前维持了稳定运行.由于营口是晚清时期东北贸易的主要港口,因此过炉银也成为当时东北的主要贸易货币,它不仅很好地适应了东北地区季节性极强的贸易特点,也为以营口港为核心的东北贸易提供了良好的货币市场基础.但进入20世纪,随着日俄军事和金融势力的侵入,以及官方的介入和干预,东北经济和贸易遭受了一系列外部冲击和商业危机,营口过炉银在应对外部冲击和信用危机的过程中,经历了从过炉现银制度、“卯色”交易到支票转账制度;从中断决算、不完全决算到公定价决算、“卯色”决算;从宝银、小洋、上海汇水到各种纸币的定价.过炉银的经营也从完全依附于商业贸易的商号,逐渐转变为具有近代商业银行性质的金融机构.清末时期,既是过炉银危机频发和发展的转折时期,也是其制度设计最为复杂,运行机能和市场覆盖范围最为兴盛的一个历史时期.

营口是东北早期经济发展时期的主要贸易港,营口贸易及其金融体系不仅支撑了东北的地区开发和经济发展,而且对于其整个贸易覆盖地区也有着深远影响.文章主要利用早期的日本调查资料,对营口贸易的发展过程、营口贸易的覆盖区域、市场网络及其运行机制、营口的贸易模式和商业构造的变化等问题进行分析与探讨,反映了晚清时期以华商为主导的营口贸易对东北地区开发和经济发展的推动.

“过炉银”是晚清时期营口地区一项极具特色的区域货币体系,它是中国从秤量银两币制向记账、信用币制转化的主要形式之一.这一制度大约产生于19世纪六七十年代,从19世纪80年代到1900年间保持了稳定运行,之后则在外来冲击、官方干预之下不断遭受危机和制度调整.“过炉银”由营口商人组织——公议会创设和管理,并在山西票号提供的汇兑机制基础上臻于完善.通过发挥货币市场中的各项职能,诸如大额贸易支付、提供短期借贷、买卖汇票、化解交易风险等,为营口贸易及其市场覆盖区域提供了交易媒介和信用工具.“过炉银”的运转机制也反映了晚清货币市场的主要内容和基本特点.

Social mobility is an important factor affecting the changes in social struc-ture and the direction of social changes,and is also the key link influencing political stabili-ty and economic development.In traditional society,imperial education and subscription system are the main ways to talent selection and upward class mobility.Based on the micro data of the occupation archives of officials in the late Qing Dynasty,this paper examines the relationship between imperial education and subscription system.It shows that imperial education and subscription system are not entirely excluded from each other as two approa-ches to official career;and they are intertwined to become an indispensable part of the offi-cial system of the Qing Dynasty.The difficulty in the entry to official career is an impor-tant factor when candidate officials with different education background take whether and how to donate into account.The role of subscription in official promotion focuses on the selection of the middle-level officials,but as for the entry to the top of the bureaucratic hi-erarchy,personal abilities of officials,family political background,and political nepotism may play a more important role.Therefore,this paper provides a new perspective for the understanding of the flow of social classes,and historical experience & empirical evidence for the reform of the examination system and the bureaucratic system.