2012 New History
P. O. Box 1-44, Nankang, Taipei 11529, Taiwan, R. O. C.
02-2782-9555 # 226

Liang Qichao and Modern Chinese Monetary Reform

Cheng-chung Lai

Department of Economics, National Tsing Hua University

Liang Qichao’s intellectual and political writings have been widely studied, but his ideas on monetary reform and policies are still insufficiently understood. Between 1886 and 1926 he published 19 articles on monetary issues. Some are comments on the Imperial government’s policies; sometimes he offered new proposals. After the 1912 Revolution, his writings shifted to defend his own policies when he was in charge of the Chinese monetary affairs(1914) and as the Minister of Finance(1917). In 1926, three years before his death, he made a retrospective overview of his monetary ideas and polices. Based on these 19 texts, the present study intends to reevaluate Liang’s monetary ideas, on his understanding and misunderstanding of the gold-exchange standard, and explains why the failure of his policies seemed inevitable.


Key Words: Liang Qichao, Chinese monetary reform, gold-exchange standard, 1900s-1920s