Chinese Soviet Republic Coins Sichuan-Shaanxi 200 Cash 1934
Coins of the Sichuan-Shaanxi Revolutionary Base
This coin is an issue of the Soviet Republic of Sichuan-Shanxi, which was founded in 1933. That this is a Chinese-Soviet coin is easily recognizable from the hammer and the sickle on the reverse, and the Chinese inscription on the obverse. The legend reads, "Workers of the world, unite!"Obverse: Hammer and sickle within star
Lettering: 1934
Reverse: 200 Cash.
Year: 1934.
Value: 200 Cash.
Metal: Copper.
Diameter: 30 mm.
Shape: Round.
Sichuan-Shaanxi Revolutionary Base money. workers and peasants led by the Communist Party of China issued RMB bank (RMB - Renminbi - literally means "people's currency"), which is the second time Revolutionary War issued in large quantities.
The 200 cash copper coin of 1934 contained a “200” within a plain circle on the obverse while showing a large star with hammer and sickle at its center with four Chinese characters appearing between the points of the star, and the date below. The date “1934” appears on some first-struck coins with the figure “4” engraved backwards!
In 1931 the First National Congress of the Chinese Soviets passed resolutions setting up the Chinese Soviet Republic. One of these resolutions dealt with economic affairs. It stated that insomuch as the soviets were located in wholly agricultural regions, possessed no industries, and were in a state of incessant civil war necessitating the raising of military funds; the various soviets were therefore empowered to issue their own coins and currency. It was further authorized that such currencies could be exchanged for those of the “outside” areas. The Workers and Peasants Bank was set up in order to effect a unified currency system. The bank was to lend money through its various branches to peasants, small merchants and cooperatives in order to develop their economic livelihood. The bank was further charged to function as the currency exchange agency for the republic, specifying that the bank's branches would carry out the collection of taxes in addition to their other duties.
The Chinese soviets extended over a number of provinces. Their boundaries were constantly fluid, depending upon the state of military operations at the time. In October 1934, immediately before the abandonment of Kiangsi and the Long March, the Communist areas consisted of the following seven soviets:
1. The Central Area – site of the central Soviet government, based at Juichin in an area extending over Kiangsi, Fukien and Kwangtung.
2. Min-Che-Kan Area – covered parts of Kiangsi, Fukien and Chekiang.
3. Hsiang-O-Kan Area – extending along the boundaries of Hunan, Hupeh and Kiangsi.
4. Hsiang-Kan Area – included parts of Hunan and Kiangsi.
5. O-Yu Yuan Area – included parts of Hupeh, Honan and Anhwei.
6. Hsiang-O-Hsi Area – Hunan, Huoeh and parts of Szechuan.
7. Ch'uan-Shan Area – the northern soviet including Shensi and the northern part of Szechuan.
Considering the relatively small size of the soviets, it is estimated that the combined land area at this time consisted of one sixth the total of these provinces. Within these borders lived a population of 36 million.
The first phase of the Communist expansion (1927-1935) was the only phase in which coins were issued. Not many official records concerning them have survived. What little we know comes principally from Eduard Kann, the British banker who wrote prolifically on the subject of Chinese currency, both past and present, for the Far Eastern Economic Review and elsewhere; and a few books and articles by Chinese authors.
Portable mining machinery was obtained for the purpose of striking coins in the above areas. These mints normally coined silver, but in the case of the Central area a mint for the purpose of striking copper subsidiary coinage was set up as well. A mint typically employed thirty workers. The presses used were extremely crude and ineffective, which accounts for the fact that rarely is one of these coins encountered that it isn't of inferior execution – i.e., weakly struck or lacking in all its characteristics. What these coins may have lacked in appearance, they made up in integrity. The Communists, as we have seen, were totally honest in all their dealings with the peasantry. Seeking to impress others with their forthrightness, they scrupulously saw to it that their coins maintained good weight and fineness. This was in direct contrast to the Nationalists, whose money consisted of miscellaneous coins of various weights and fineness to say nothing of the outright counterfeits which circulated widely. Peasants living within Kuomintang controlled areas always preferred the coins of the soviets.
Trade with these areas depended upon the silver dollar, while the subsidiary coinage tended to circulate only within the soviets. Even the soviet paper money notes retained full value despite their crude and ragged appearance.
To fuel the mint's coin presses the revolutionaries used silver, copper, lead and tin utensils confiscated from the local landlords who fell victim to their aggression. A considerable amount of metal was also obtained through currency exchange.
The capacity of these crudely operated mints proved small, necessitating the creation of paper money which circulated side-by-side with and gradually surpassed the coins in circulation. After the Long March the entire economy of Communist China was run on paper money. Before we turn to paper money emissions let us examine the coin types of these early soviets.
Many of these issues contained common characteristics. These include the hammer and sickle device, adapted from the Russian revolution, which appeared on the majority of coins issued. The Western calendar was always used – as opposed to the year dating from the founding of the Republic of China found on Nationalist coins. The year was always spelled out in full (i.e. “1932” in Chinese characters) as opposed to “year 21 of the republic”. This was a radical departure from past practice. In addition, Chinese inscriptions were written both left to right (the old way) and right to left on different coin types. Lastly, these coins were meant to serve as propaganda in addition to their function as a medium of exchange. They are replete with Communist slogans such as “Made by the Communist Soviets” and “Workers of the World Unite!”