The Issue History of Beihai Coins

1938 10 in the report on "On the New Stage" made at the enlarged meeting of the Sixth Plenary Session of the Sixth Central Committee, President Mao Zedong pointed out that it is necessary to fight against the enemy's policy of issuing counterfeit money and destroying legal tender in a planned way, allowing local banks to issue local currency in separatist regions, and the national banks to handle low-interest loans to help develop production and commodity circulation. According to the instructions of the CPC Central Committee and the chaotic situation of monetary and financial affairs in Shandong at that time, the Shandong Provincial Committee decided to set up its own bank in our anti-Japanese base area to rectify monetary and financial affairs and enhance the economic strength of the Anti-Japanese War 2. First, Beihai Bank was established in Jiaodong, and then Beihai currency was issued in the anti-Japanese base area. Beihai Bank was initially established in Penglai, Huangxian (Longkou) and Yexian (Laizhou) counties with the support of Jiaodong Special Committee and the Third Army of Shandong People's Anti-Japanese Salvation Army and funded by the Third Army Command. Because the three counties are located in Beihai area and are named Beihai Bank, the coins issued are called Beihai coins. /kloc-in the autumn of 0/938, Yexian issued Beihai coins with four denominations: dime, dime, dime and one yuan for the first time. 1in the spring of 939, Beihai Bank was immediately closed due to the invasion of Japanese and Japanese puppet troops. 1August, 939, Beihai Bank reopened. /kloc-in the autumn of 0/940, Jiaodong Beihai Bank was renamed as Shandong Beihai Bank Jiaodong Branch. 194 1 year later, with the expansion of the base area, branches such as Beihai were established one after another. In the summer of 1942, the base areas declared Beihai currency as the bookkeeping base currency, which restricted the inflow of legal tender and improved the value of bookkeeping base currency in terms of price comparison. 1in the spring of 943, the head office of Beihai Bank was moved from Luzhong to Binhai. Binhai District announced that it would stop using legal tender from July 2 1, 1943, and Beihai Coin quickly occupied the market, thus effectively repelling the invasion of counterfeit money, completely eliminating the impact of the inflation of legal tender, crushing the enemy's attempt to plunder the materials in our liberated areas with money, and forcing counterfeit money and legal tender to depreciate by more than 40 times.

The issuance of Beihai currency made our party win in the currency struggle, maintained the long-term stability of prices in the base areas, created conditions for the unification of Beihai currency in the whole province, and made important contributions to the victory of War of Resistance against Japanese Aggression and the War of Liberation.