In 1932 alone, Lin Han shipped 20 tons of fiat currency to China, and in the first two months of 1933, 40 tons of "German" fiat currency were smuggled into China. Later, Lin Han felt that it was too dangerous to transport banknotes, and once it was seized, the impact was too great, so Lin Han simply sent the banknote printing equipment, templates, and ink to the Yangtze River waterway directly to the Soviet area, and handed it over to the Red Army to deal with by itself, and he was responsible for regularly providing the special paper needed for printing banknotes.

After obtaining the highest-quality printing equipment of this era provided by Lin Han, the Red Army's banknote printing factories were also quickly opened, and the Red Army and underground parties in various localities took the legal tender printed by the Red Army to set shopping materials everywhere, bribing (crab) and bribing artillery party officers to resell arms and sensitive materials, and the consequence was that the "legal tender flooded" in the area controlled by the Nanjing Nationalist Government, prices soared, and the credibility of the legal tender plummeted. The Nationalist Government in Nanjing, which was forced to be in a hurry, had to announce the abolition of the old currency and the replacement of the new currency in July 1933, which temporarily restrained the Red Army's "currency offensive".

Of course, this inhibition is only temporary. A few months later, after Lin Han solved the problem of copying the "new version of fiat currency", a new round of "currency war" will start again.

The loss of silver was strict, counterfeit (crab) banknotes were rampant, and the fiat currency depreciated sharply, which was precisely the biggest financial crisis encountered by the Nanjing Nationalist Government in 1933, when the Americans suddenly introduced the "Silver Purchase Act", and as a result, in the month when the bill was introduced, more than 10 million silver dollars flowed out -- an important reason why the Americans engaged in the "Silver Purchase Act" to raise the price of silver was to stimulate the purchasing power of silver coin countries by raising the price of silver, so as to sell surplus products to these countries. Passing on the crisis. At this time, China had long been an economic colony of Western countries, and in 1933, in order to pass on the domestic crisis, a large number of foreign goods were frantically dumped in China, and even the traditional crop of Chinese peasants, rice, was affected.

"Everywhere there is a lot of foreign rice and oceans; The first few batches have not yet been eaten, and several batches of foreign steamers have arrived" Mr. Ye Shengtao's article "Collecting Three or Five Buckets Overcharged" is the story of this period.

The U.S. Silver Purchase Act caused a massive outflow of silver from China, but the Americans were a little late. Hannah and Lin Han, who were one step ahead of the Americans, used their own foreign exchange to frantically sweep and buy precious metals in the Chinese market a year before the Americans.

Due to the good quality of the counterfeit (crab) banknotes of the two. It can be circulated all over the world. In disguise, the economic crisis that some foreign countries have been transferred to China has also been transferred back abroad -- in the face of the dumping of foreign goods, most of the foreign exchange that had previously flowed from Lin Han and Hannah to the Chinese was used to buy foreign goods dumped in China.

In this era, the land of fish and rice in the south of the Yangtze River is a little better than what Mr. Ye Shengtao wrote in the article in history. The low grain price of "five pieces of brown rice and three pieces of grain" in the article. Because the comprador businessmen sent by Lin Han frantically swept the market with "homemade" homemade dollars, yen, and pounds. In 1932, the purchase price of grain was maintained at "seven pieces of brown rice and five pieces of grain," and the farmers who farmed the fields were still somewhat viable. And in July and January 1933, there was a bumper grain harvest. Due to the flood of fiat currency in the market and strict inflation, the price of grain has risen to "15 yuan of brown rice and 13 yuan of grain", but the purchasing power of fifteen yuan of fiat currency at this time is barely equivalent to last year's seven yuan.

Farmers in the land of fish and rice in Jiangsu, Zhejiang and Zhejiang "benefited" because of Lin Han's sweep, but for the Nanjing Nationalist Government, the "Silver Purchase Act" was even worse. The outflow of silver and the increase in the price of silver have greatly increased the value of China's currency, which has seriously hindered the development of foreign trade. The silver dollars in circulation in the market had been greatly reduced because of Lin Han's sweep the previous year, and the Americans stabbed them again, and the Nanjing Nationalist Government soon felt that life in the second half of 1933 could not be carried out. In addition, at this time, the Red Army in the Soviet area frenzied the "pseudo (crab) currency" offensive, but because of the disastrous defeat in the domestic and foreign economic battlefields, the great cause of "the fifth suppression of bandits" that was originally planned to be launched at the end of 1933 was directly stillborn before it was launched.

Note: The Silver Purchase Act was not only intended to pass on the crisis in the United States, but also to hit the British economy. At that time, the world's silver standard countries were not only China, but also India, Canada, Kangaroos, and the world's four largest silver standard countries were the four pillars of the United Kingdom. In the process, the other three actually suffered heavy losses.

In the last months of 1933, the entire Nationalist government in Nanking was busy dealing with the economic difficulties caused by the silver crisis and the counterfeiting campaign.

On the one hand, they carried out monetary reform, planning to abolish the silver standard and implement fiat currency reform. On the other hand, various policies have been formulated to try to recover the direct economic losses caused by the export of silver, and illegal traders are strictly prohibited from smuggling silver for export. At the same time, he also demanded through diplomatic channels that the United States "no longer buy the world's raw silver".

However, when Roosevelt was president, the United States still ignored the kneeling pleas of the Nationalist Government in Nanjing, and how could the President of Ghana, who was more "conservative" than Roosevelt, pay attention to the life and death of the Artillery Party?

As for the idea of abolishing the silver standard and establishing a credit monetary policy, there are also problems with this idea. Today's fiat currency has long been tossed by the Red Army's "pseudo (crab) currency" offensive to the point of losing all credit, and it is not easy to engage in credit currency.

On the one hand, Song Ziwen sent people to contact the Red Army and begged the other side to stop the "fake (crab) currency war", and on the other hand, he knelt down and licked the Americans, begging for more foreign exchange loans as monetary reserves. At the same time, please ask Britain and the United States to help design new currencies with higher anti-counterfeiting and import more advanced money printing equipment. As for how the Red Army suddenly possessed such advanced means as printing counterfeit (crab) banknotes, Soong Ziwen rightly put this charge on the head of the Soviet Union and let Stalin get shot again.

However, if the artillery party wants to carry out monetary reform and abolish the silver standard, it will take nearly a year to prepare for the action no matter how fast it moves. This process must have included various concessions to the British and American consortiums and the signing of various humiliating treaties, such as a series of heavy concessions in banking, currency, budget, finance, customs administration, taxation and so on (as has been the case historically).

At this time, because of Lin Han's disturbance and the early rise of the Red Army, there were only five provinces left in the territory that could be controlled -- Jiangxi was only a small piece of "skin" on the Yangtze River, and Fujian was also only a few isolated cities along the coast, and the territory of these two provinces was even a burden rather than a benefit to them, and it was completely negligible. Only the five provinces of Jiangsu, Zhejiang, Anhui, Henan, and Hubei are really in their hands.

As for the neighboring Shandong, which nominally belongs to the central government, it is the territory of Han Fuqu, and He Jian of Hunan is self-contained, he is now besieged by the Red Army in Changsha and abused to death, and the 19th Route Army was cornered by the Red Army, and "sold" the territory to Song Ziwen, but the situation there was as erosive as Jiangxi. At the beginning of 1934, the Nationalist Government of Nanjing, whose strength had shrunk greatly, was actually embarrassed to the point that "if you want to sell the country, you have not much to sell".

Throughout 1932 and the end of 1933, Lin Han and Hannah invested more than $200 million in "foreign exchange from various countries" in China, and as many as 300 million silver dollars were taken back and forth. When the Americans remembered to use the "Silver Purchase Act" to suck blood on China, they found that China did not have much juice at this time.

Note: Historically, when the Americans came up with the "Silver Purchase Act" to extract the marrow from China, the Japanese also took the opportunity to fall into the ground, and the final result was that the Americans ate meat, the Japanese sucked blood, and only China suffered heavy losses. However, this plane Lin Hantong guò printed a large number of counterfeit (crab) banknotes, which in disguised way transferred the crisis to the world, which reduced China's losses.

When the Nanjing Nationalist Government begged grandpa and grandmother everywhere because of the financial crisis caused by internal and external factors, the Southern Red Army was still singing triumphant songs on all fronts.

The first tragedy was the 19th Route Army in Fujian, and the strategic significance of Dongshan Port to the Red Army in the south was extraordinary. The reason why the Red Army did not kill the 19th Route Army and seize the whole of Fujian was simply because it was worried about the interference of the imperialist countries. did not destroy the 19th Route Army, just so that they could help "occupy" this "pit".

In the 1932 Jiangxi Campaign, the Red Army had already experienced the benefits of the strategy of "encircling the cities from the countryside": seizing the productive countryside, carrying out land reform, establishing militia and local guerrilla organizations, building base areas, squeezing out the power of the Artillery Party from the countryside, and throwing the consumption-oriented cities as a burden to the Artillery Party. If the artillery army wants to leave the city stronghold and seize the countryside, it will divide and eat it by means of guò movement warfare. This series of tactics is just a replica of the situation encountered by the artillery party in the northeast more than ten years later. He Yingqin's family background in nearly 20 divisions in Jiangxi was played to death in this way.

The Red Army copied the successful experience of Jiangxi, and the four coastal cities of Fuzhou, Quanzhou, Xiamen, and Putian were deliberately pressed but not attacked. In the previous Battle of Zhangzhou, the 19th Route Army suffered heavy losses, and all the remnants of the army added up to more than 10,000 people, but they had to be scattered in these four cities, and the troops were even more stretched.

In response to this situation, the Red Army adopted a tactic of constantly squeezing their living space in these four places, and the Red Army left 20,000 troops to suppress the 19th Route Army scattered in these four cities, forcing it to be trapped in the city. Land reform and base construction were then carried out around the city. (To be continued......)