Reorganisation Loan Affair
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Reorganisation Loan Affair
The Reorganisation loan affair () was a series of political incidents in the Republic of China between March 1912 and 1913. It began when Yuan Shikai, the provisional President of the country, attempted to resolve financial difficulties in the Beiyang government by taking significant loans from the China Consortium of foreign banks without the approval of the National Assembly (the parliament). The loan, amounting to £25 million (3.08 billion pounds or 4 billion dollars in 2021 value, inflation-adjusted), forced the Beiyang government to cede partial control of its national treasury to foreign ownership as leverage. Yuan's decision to obtain the loan generated controversy in China, especially within the National Assembly and the government, as the terms negotiated to obtain the loan were considered a national humiliation. Several cabinet members, including Premier Tang Shaoyi, resigned in protest against Yuan's decision. Along with other political incidents, notably the assassin ...
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Yuan Shikai
Yuan Shikai (; 16 September 1859 – 6 June 1916) was a Chinese military and government official who rose to power during the late Qing dynasty and eventually ended the Qing dynasty rule of China in 1912, later becoming the Emperor of China. He first tried to save the dynasty with a number of modernization projects including bureaucratic, fiscal, judicial, educational, and other reforms, despite playing a key part in the failure of the Hundred Days' Reform. He established the first modern army and a more efficient provincial government in North China during the last years of the Qing dynasty before forcing the abdication of the Xuantong Emperor, the last monarch of the Qing dynasty in 1912. Through negotiation, he became the first President of the Republic of China in 1912. This army and bureaucratic control were the foundation of his autocratic rule. In 1915 he attempted to restore the hereditary monarchy in China, with himself as the Hongxian Emperor (). His death in 1916 ...
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Provisional Government Of The Republic Of China (1912)
The Provisional Government of the Republic of China () was a provisional government established during the Xinhai Revolution by the revolutionaries in 1912. After the success of the Wuchang uprising, revolutionary provincial assembly representatives held a conference in the district of Wuchang, China, which framed the organizational outline of the Provisional Government. Planning In November 1911 the revolutionary group in the Wuchang District of Wuhan, China, led by Li Yuanhong came together with the revolutionary group in Shanghai led by Chen Qimei and Cheng Dequan (程德全) to prepare for the establishment of a new central government. The districts of Wuhan would unify in 1927.Pomerantz-Zhang, Linda. 992(1992). Wu Tingfang (1842-1922): reform and modernization in modern Chinese history. Hong Kong University Press. , 9789622092877. pg 207- 209. The group in Wuchang wanted to establish a government in Wuchang, while the group in Shanghai wanted a government in Shanghai. B ...
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Salt Tax
A salt tax refers to the direct taxation of salt, usually levied proportionately to the volume of salt purchased. The taxation of salt dates as far back as 300BC, as salt has been a valuable good used for gifts and religious offerings since 6050BC. The salt tax originated in China, in 300BC and became the main source of financing the Great WallSpencer, J. (1935). Salt in China. Geographical Review, 25(3), 353-366. As a result of the successful profitability of the Salt Tax, it began filtering through the rulings of nations across the world, France, Spain, Russia, England and India were the main regions to follow the Chinese lead. Salt was used as a currency during the Roman Empire and towards the end of their reign, the Romans began monopolising salt in order to fund their war objectives. Salt was such an important commodity during the Middle Ages that governments would often incorporate the salt trade as a state enterprise. Salt is one of the longest standing sources of revenue f ...
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Zhou Ziqi
Zhou Ziqi () (17 November 1869 – 21 October 1923) was a Chinese educator and politician in the late Qing dynasty and early republican period. During the early part of the Republic, he served multiple roles: first in multiple ministry positions (including Communication and Finance), as a diplomat, then as acting President of the Republic, and, for a time, as acting Premier in 1922, during Liang Shiyi's illness. He was a member of the Communications Clique. Biography Born in Guangdong, Zhou, who spoke both Cantonese and Mandarin, later moved back to his ancestral province of Shandong. He attended Columbia University in the United States, and upon returning to China, he helped found Tsinghua University to prepare Chinese students to study abroad in America; among the subjects he emphasized were English, mathematics, and science. During his time at Tsinghua, Zhou was in charge of sending students to study abroad, and from 1911 to 1912, he served as president of the university. A ...
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Advance Payment
An advance payment, or simply an advance, is the part of a contractually due sum that is paid or received in advance for goods or services, while the balance included in the invoice will only follow the delivery. Advance payments are recorded as a prepaid expense in '' accrual accounting'' for the entity issuing the advance. Advanced payments are recorded as assets on the balance sheet. As these assets are used they are expended and recorded on the income statement for the period in which they are incurred. Insurance is a common prepaid asset, which will only be a prepaid asset because it is a proactive measure to protect business from unforeseen events. See also *Advance against royalties *Chicago Options Associates *Pay or play contract *Prepaid expense A deferral, in ''accrual accounting'', is any account where the income or expense is not recognised until a future date (accounting period), e.g. annuities, charges, taxes, income, etc. The deferred item may be carried, depend ...
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Emperor Of China
''Huangdi'' (), translated into English as Emperor, was the superlative title held by monarchs of China who ruled various imperial regimes in Chinese history. In traditional Chinese political theory, the emperor was considered the Son of Heaven and the autocrat of all under Heaven. Under the Han dynasty, Confucianism replaced Legalism as the official political theory and succession in most cases theoretically followed agnatic primogeniture. The lineage of emperors descended from a paternal family line constituted a dynasty. The absolute authority of the emperor came with a variety of governing duties and moral obligations; failure to uphold these was thought to remove the dynasty's Mandate of Heaven and to justify its overthrow. In practice, emperors sometimes avoided the strict rules of succession and dynasties' ostensible "failures" were detailed in official histories written by their successful replacements. The power of the emperor was also limited by the imperial burea ...
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Puyi
Aisin-Gioro Puyi (; 7 February 1906 – 17 October 1967), courtesy name Yaozhi (曜之), was the last emperor of China as the eleventh and final Qing dynasty monarch. He became emperor at the age of two in 1908, but was forced to abdicate on 12 February 1912 during the Xinhai Revolution. His era name as Qing emperor, Xuantong (Hsuan-tung, 宣統), means "proclamation of unity". He was later installed as the Emperor Kangde (康德) of the Japanese puppet state of Manchukuo during World War II. He was briefly restored to the throne as Qing emperor by the loyalist General Zhang Xun from 1 July to 12 July 1917. He was first wed to Empress Wanrong in 1922 in an arranged marriage. In 1924, he was expelled from the palace and found refuge in Tianjin, where he began to court both the warlords fighting for hegemony over China and the Japanese who had long desired control of China. In 1932, after the Japanese invasion of Manchuria, the puppet state of Manchukuo was established by Japan ...
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Xiong Xiling2 (4to3)
Xiong may refer to: Name * Xiong (surname) (熊), a Chinese surname Location * Xiong County, in Hebei, China Language * The pinyin romanization of several Chinese characters, including 兄 (elder brother), 胸 (chest), 雄 (heroic) and 熊 (bear) * The Xong language and the Miao people who speak it Group * Xong, or Limbu people * A subdivision of the Mongol armies: see Huns The Huns were a nomadic people who lived in Central Asia, the Caucasus, and Eastern Europe between the 4th and 6th century AD. According to European tradition, they were first reported living east of the Volga River, in an area that was part ...
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Shanghai
Shanghai (; , , Standard Mandarin pronunciation: ) is one of the four direct-administered municipalities of the People's Republic of China (PRC). The city is located on the southern estuary of the Yangtze River, with the Huangpu River flowing through it. With a population of 24.89 million as of 2021, Shanghai is the most populous urban area in China with 39,300,000 inhabitants living in the Shanghai metropolitan area, the second most populous city proper in the world (after Chongqing) and the only city in East Asia with a GDP greater than its corresponding capital. Shanghai ranks second among the administrative divisions of Mainland China in human development index (after Beijing). As of 2018, the Greater Shanghai metropolitan area was estimated to produce a gross metropolitan product (nominal) of nearly 9.1 trillion RMB ($1.33 trillion), exceeding that of Mexico with GDP of $1.22 trillion, the 15th largest in the world. Shanghai is one of the world's major centers for ...
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United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territories, nine Minor Outlying Islands, and 326 Indian reservations. The United States is also in free association with three Pacific Island sovereign states: the Federated States of Micronesia, the Marshall Islands, and the Republic of Palau. It is the world's third-largest country by both land and total area. It shares land borders with Canada to its north and with Mexico to its south and has maritime borders with the Bahamas, Cuba, Russia, and other nations. With a population of over 333 million, it is the most populous country in the Americas and the third most populous in the world. The national capital of the United States is Washington, D.C. and its most populous city and principal financial center is New York City. Paleo-Americ ...
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Japan
Japan ( ja, 日本, or , and formally , ''Nihonkoku'') is an island country in East Asia. It is situated in the northwest Pacific Ocean, and is bordered on the west by the Sea of Japan, while extending from the Sea of Okhotsk in the north toward the East China Sea, Philippine Sea, and Taiwan in the south. Japan is a part of the Ring of Fire, and spans Japanese archipelago, an archipelago of List of islands of Japan, 6852 islands covering ; the five main islands are Hokkaido, Honshu (the "mainland"), Shikoku, Kyushu, and Okinawa Island, Okinawa. Tokyo is the Capital of Japan, nation's capital and largest city, followed by Yokohama, Osaka, Nagoya, Sapporo, Fukuoka, Kobe, and Kyoto. Japan is the List of countries and dependencies by population, eleventh most populous country in the world, as well as one of the List of countries and dependencies by population density, most densely populated and Urbanization by country, urbanized. About three-fourths of Geography of Japan, the c ...
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Great Power
A great power is a sovereign state that is recognized as having the ability and expertise to exert its influence on a global scale. Great powers characteristically possess military and economic strength, as well as diplomatic and soft power influence, which may cause middle or small powers to consider the great powers' opinions before taking actions of their own. International relations theorists have posited that great power status can be characterized into power capabilities, spatial aspects, and status dimensions. While some nations are widely considered to be great powers, there is considerable debate on the exact criteria of great power status. Historically, the status of great powers has been formally recognized in organizations such as the Congress of ViennaDanilovic, Vesna. "When the Stakes Are High – Deterrence and Conflict among Major Powers", University of Michigan Press (2002), pp 27, 225–22(PDF chapter downloads)
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