公債下的社會衝突──1950年廣州人民勝利折實公債研究

Government Bonds and Social Conflict: A Study of the People's Victory Bonds in Guangzhou, 1950

1950年，中共當局發行人民勝利折實公債，以解決收支不平衡的緊急難題。很多學者認定這次公債有力恢復國民經濟，因此被社會各階層所接受。如果是這樣的話，怎麼解釋1950年代商人逃亡香港的現象？本文是對廣州市的個案研究，而廣州曾被列為公債認購其中的一個重點城市。查考了大量的報刊和檔案（包括香港報刊在內），我們發現很多廣州商人當時面對空前的經濟衰退，對中共無休止的經濟需索不勝其煩，不願意在強迫攤派下支付公債。儘管受到各種政治控制，但他們選擇在1950年3月支付公債期間關店結業，離開廣州。總而言之，公債政策的缺失，以及它在廣州無法完成任務的挫敗，可以作為一個很好的起點，讓人們理解中共政府在1950年代的政策風格。

In 1950, the Chinese Communist government issued People's Victory Bonds (PVB) in order to solve the urgent problem of its payments imbalance. Many scholars have asserted that the bonds contributed greatly to renewing the national economy, and were thus accepted by all walks of society. But if this were the case, how can we explain the flight of merchants to Hong Kong in the early 1950s? This article is a case study of Guangzhou, which was listed as one of the targets for sale of the PVB. Through the examination of numerous newspapers and archives, it is seen that many businessmen in Guangzhou, facing unprecedented economic decline and troubled with unceasing financial demands from the CCP, refused to pay for the PVB under the practice of forced distribution. Despite the political control that the government held over them, they chose to close their offices and left Guangzhou during the payment phase in March 1950. In sum, these shortcomings of the PVB policy, which failed to fulfill its original task, serve as a good starting point for understanding the policy styles of Communist government in the 1950s.