$10 27th Year Gold Loan Republic of China 1938 Uncancelled Bond

$10 United States Dollar Bond (considered Liberty Bonds). Please click on "View Larger Image" to see english side of bond. 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 Second Sino-Japanese War (1937–1945) was a military conflict that was primarily waged between the Republic of China and the Empire of Japan. The war made up the Chinese theater of the wider Pacific Theater of the Second World War. The beginning of the war is conventionally dated to the Marco Polo Bridge Incident on 7 July 1937, when a dispute between Japanese and Chinese troops in Peking escalated into a full-scale invasion. This full-scale war between the Chinese and the Empire of Japan is often regarded as the beginning of World War II in Asia. In 2017 the Ministry of Education in the People's Republic of China decreed that the term "eight-year war" in all textbooks should be replaced by "fourteen-year war", with a revised starting date of 18 September 1931 provided by the Japanese invasion of Manchuria. According to historian Rana Mitter, historians in China are unhappy with the blanket revision, and (despite sustained tensions) the Republic of China did not consider itself to be continuously at war with Japan over these six years. The Tanggu Truce of 1933 officially ended the earlier hostilities in Manchuria while the He-Umezu Agreement of 1935 acknowledged the Japanese demands to put an end to all anti-Japanese organizations in China.

China fought Japan with aid from the Soviet Union and the United States. After the Japanese attacks on Malaya and Pearl Harbor in 1941, the war merged with other conflicts which are generally categorized under those conflicts of World War II as a major sector known as the China Burma India Theater. Some scholars consider the European War and the Pacific War to be entirely separate, albeit concurrent, wars. Other scholars consider the start of the full-scale Second Sino-Japanese War in 1937 to have been the beginning of World War II. The Second Sino-Japanese War was the largest Asian war in the 20th century. It accounted for the majority of civilian and military casualties in the Pacific War, with between 10 and 25 million Chinese civilians and over 4 million Chinese and Japanese military personnel missing or dying from war-related violence, famine, and other causes." The war has been called "the Asian holocaust."

The war was the result of a decades-long Japanese imperialist policy to expand its influence politically and militarily in order to secure access to raw material reserves, food, and labor. The period after World War I brought about increasing stress on the Japanese policy. Leftists sought universal suffrage and greater rights for workers. Increasing textile production from Chinese mills was adversely affecting Japanese production and the Great Depression brought about a large slowdown in exports. All of this contributed to militant nationalism, culminating in the rise to power of a militarist faction. This faction was led at its height by the Hideki Tojo cabinet of the Imperial Rule Assistance Association under edict from Emperor Hirohito. In 1931, the Mukden Incident helped spark the Japanese invasion of Manchuria. The Chinese were defeated and Japan created a new puppet state, Manchukuo; many historians cite 1931 as the beginning of the war. This view has been adopted by the PRC government. From 1931 to 1937, China and Japan continued to skirmish in small, localized engagements, so-called "incidents".

Following the Marco Polo Bridge Incident, the Japanese scored major victories, capturing Beijing, Shanghai and the Chinese capital of Nanjing in 1937, which resulted in the Rape of Nanjing. After failing to stop the Japanese in the Battle of Wuhan, the Chinese central government was relocated to Chongqing (Chungking) in the Chinese interior. Following the Sino-Soviet Treaty of 1937, strong material support helped the Nationalist Army of China and the Chinese Air Force continue to exert strong resistance against the Japanese offensive. By 1939, after Chinese victories in Changsha and Guangxi, and with Japan's lines of communications stretched deep into the Chinese interior, the war reached a stalemate. While the Japanese were also unable to defeat the Chinese communist forces in Shaanxi, who waged a campaign of sabotage and guerrilla warfare against the invaders, they ultimately succeeded in the year-long Battle of South Guangxi to occupy Nanning, which cut off the last sea access to the wartime capital of Chongqing. While Japan ruled the large cities, they lacked sufficient manpower to control China's vast countryside. In November 1939, Chinese nationalist forces launched a large scale winter offensive, while in August 1940, Chinese communist forces launched a counteroffensive in central China. The United States supported China through a series of increasing boycotts against Japan, culminating with cutting off steel and petrol exports into Japan by June 1941. Additionally, American mercenaries such as the Flying Tigers provided extra support to China directly.

In December 1941, Japan launched a surprise attack on Pearl Harbor, and declared war on the United States. The United States declared war in turn and increased its flow of aid to China – with the Lend-Lease act, the United States gave China a total of $1.6 billion ($18.4 billion adjusted for inflation). With Burma cut off it airlifted material over the Himalayas. In 1944, Japan launched Operation Ichi-Go, the invasion of Henan and Changsha. However, this failed to bring about the surrender of Chinese forces. In 1945, the Chinese Expeditionary Force resumed its advance in Burma and completed the Ledo Road linking India to China. At the same time, China launched large counteroffensives in South China and retook West Hunan and Guangxi. Japan formally surrendered on 2 September 1945. China regained all territories lost to Japan.

China, officially known as the Republic of China (ROC), was a country in East Asia based in Mainland China from 1912 to 1949, prior to the relocation of its central government to Taiwan as a result of the Chinese Civil War. At a population of 541 million in 1949, it was the world's most populous country. Covering 11.4 million square kilometres (4.4 million square miles), it consisted of 35 provinces, 1 special administrative region, 2 regions, 12 special municipalities, 14 leagues, and 4 special banners. This period is often referred to as the Republican Era in Mainland China or the Mainland Period in Taiwan.

The Republic was declared on 1 January 1912 after the Xinhai Revolution, which overthrew the Qing dynasty, the last imperial dynasty of China. On 12 February 1912, regent Empress Dowager Longyu signed the abdication decree on behalf of the Xuantong Emperor, ending several millennia of Chinese monarchical rule. Sun Yat-sen, the founder and its provisional president, served only briefly before handing over the presidency to Yuan Shikai, the leader of the Beiyang Army. Sun's party, the Kuomintang (KMT), then led by Song Jiaoren, won the parliamentary election held in December 1912. However, Song was assassinated on Yuan's orders shortly after and the Beiyang Army, led by Yuan, maintained full control of the Beiyang government, who then proclaimed the Empire of China in 1915 before abolishing the short-lived monarchy as a result of popular unrest. After Yuan's death in 1916, the authority of the Beiyang government was further weakened by a brief restoration of the Qing dynasty. The mostly powerless government led to a fracturing of the country as cliques in the Beiyang Army claimed individual autonomy and clashed with each other. So began the Warlord Era: a decade of decentralized power struggles and prolonged armed conflict.

The KMT, under the leadership of Sun, attempted multiple times to establish a national government in Canton. After taking Canton for a third time in 1923, the KMT successfully established a rival government in preparation for a campaign to unify China. In 1924 the KMT would enter into an alliance with the fledgling Chinese Communist Party (CCP) as a requirement for Soviet support. General Chiang Kai-shek, who became the Chairman of the Kuomintang after Sun's death and subsequent power struggle in 1925, began the Northern Expedition in 1926 to overthrow the Beiyang government. In 1927, Chiang moved the nationalist government to Nanking and purged the CCP, beginning with the Shanghai massacre. The latter event forced the CCP and KMT's left-wing into armed rebellion, marking the beginning of the Chinese Civil War and the establishment of a rival nationalist government in Wuhan under Wang Jingwei. However, this rival government soon purged the communists as well and reconciled with Chiang's KMT. After the Northern Expedition resulted in nominal unification under Chiang in 1928, disgruntled warlords formed an anti-Chiang coalition. These warlords would fight Chiang and his allies in the Central Plains War from 1929 to 1930, ultimately losing in the largest conflict of the Warlord Era.

China experienced some industrialization during the 1930s but suffered setbacks from conflicts between the Nationalist government in Nanjing, the CCP, remaining warlords, and the Empire of Japan after the Japanese invasion of Manchuria. Nation-building efforts yielded to fight the Second Sino-Japanese War in 1937 when a skirmish between the National Revolutionary Army and Imperial Japanese Army culminated in a full-scale invasion by Japan. Hostilities between the KMT and CCP partially subsided when, shortly before the war, they formed the Second United Front to resist Japanese aggression until the alliance broke down in 1941. The war lasted until the surrender of Japan at the end of World War II in 1945; China then regained control of the island of Taiwan and the Pescadores.

Shortly after, the Chinese Civil War between the KMT and CCP resumed with full-scale fighting, leading to the 1946 Constitution of the Republic of China replacing the 1928 Organic Law as the Republic's fundamental law. Three years later, in 1949, nearing the end of the civil war, the CCP established the People's Republic of China in Beijing, with the KMT-led ROC moving its capital several times from Nanjing to Guangzhou, followed by Chongqing, then Chengdu and lastly, Taipei. The CCP emerged victorious and expelled the KMT and ROC government from the Chinese mainland. The ROC later lost control of Hainan in 1950, and the Dachen Islands in Zhejiang in 1955. It has maintained control over Taiwan and other smaller islands.

The ROC was a founding member of the League of Nations and later the United Nations (including its Security Council seat) where it maintained until 1971, when the People's Republic of China took over its membership. It was also a member of the Universal Postal Union and the International Olympic Committee.

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