Word: yuan
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Dates: during 1940-1949
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...halted by the municipal government's "discovery" of 1,300 tons of rice hoarded outside the South Gate (apparently by an unnamed government agency). This cache was distributed to rice shops and a rationing system instituted. At the same time new currency regulations temporarily stabilized the plummeting gold yuan and provided for the issuance of gold and silver coins...
...Communists had finished off Manchuria, prices were skyrocketing, and Dewey had lost the U.S. elections. At 40 to the dollar, the gold yuan had sunk in two weeks to a tenth of its original value. A wave of defeatism swept Nationalist China. Frail Wong Wen-hao, a geologist in private life, tried three times to resign as Premier, finally agreed to hang on until Chiang Kai-shek could find a successor...
Spurred by fiery Liu Pu-ting, the Legislative Yuan's most outspoken critic of the government, 120 Nanking professors drafted open letters to Chiang and Communist Leader Mao Tse-tung. "People throughout the country," the professors wrote, "are praying for an early return of peace ... It is time to save the country's last remaining breath . . . Peace negotiations should be resumed for the formation of a multi-party coalition government...
...stubborn attempt to stay in Manchuria, gravely affected public confidence in the regime. Economic pressure forced the government at week's end to give up its price-control program as a failure, unfreeze price and wage ceilings. Overnight Shanghai prices increased four to five times. The new gold yuan (TIME, Aug. 30) had started on the same giddy spiral as the old Chinese national dollar...
...organizer of the procession was the man in charge of defending the new gold yuan currency in Shanghai, deputy economic controller Major General Chiang Ching-kuo, Generalissimo Chiang Kai-shek's Russian-educated elder son. A chubby, earnest man who looks much younger than his 39 years, Chiang believes in going to the people. On Tuesday and Thursday afternoons he holds open house in his office in Shanghai's Central Bank of China to hear the public's complaints...