$100 Republic of China 29th Year Military Supplies Loan - 1940 dated Chinese Bond
Inv# FB6176 Bond
$100 6% Republic of China bearer Bond. The 29th Year Military Supplies Loan. All have 52 coupons. PASS-CO authenticated. Article relating to this Chinese item: https://www.bloomberg.com/news/articles/2019-08-29/trump-s-new-trade-war-weapon-might-just-be-antique-china-debt
The Provisional Government of the Republic of China functioned as a puppet state of the Empire of Japan from 1937 to 1940 during the Second Sino-Japanese War. It was primarily established at the behest of Imperial Japanese Army commanders in northern China, subsequently receiving endorsement from Japanese governmental authorities in Tokyo. Consequently, the Provisional Government held nominal power in the Japanese-occupied regions of northern China, while to the south, the Central China Expeditionary Army formed the Reformed Government of the Republic of China in 1938, which governed the Yangtze River area. Both entities effectively acted as local extensions of the Japanese military command, owing to the significant presence and authority of Japanese advisors within the Provisional Government over local Chinese officials, and because it never sought international recognition, not even from Japan.
Following the conquest of Northern China, the Japanese Imperial General Headquarters sanctioned the establishment of a collaborationist regime as part of its broader strategy to create an autonomous buffer zone between China and the Japanese-controlled territory of Manchukuo. This initially led to the formation of local and provincial autonomous administrations, such as the East Hebei Autonomous Government. However, throughout 1937, plans were developed to consolidate these smaller regimes into a singular entity that would act as a prospective central government for China. The Provisional Government amalgamated these smaller local councils and nominally governed the provinces of Hopei, Shantung, Shansi, Henan, and Kiangsu. Nevertheless, the regime's actual influence was predominantly confined to areas under permanent Japanese military control, which limited its jurisdiction to major cities and railway lines. The authority of the Provisional Government was further constrained by the presence of the Inner Mongolian autonomous government and the ongoing resistance of the East Hebei Government to complete integration.
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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