上海金融业与太平洋战争爆发前上海的外汇市场

抗战爆发后．国民政府调整中的外汇政策和措施仍得以在上海执行。政府银行运用自有外汇、英美政府资金和相关银行先后介入．维持上海汇市。大部分外商银行是官方牌价外汇的争购者和暗市的主角，其市场行为在中美英政府联手推行外汇管理后有所约束。普通华商行庄未能在维持外汇市场方面发挥主动性作用，但以银钱业同业公会为代表的L海金融业仍奉西迂内地的国民政府为惟一合法的中央政府，国民政府的有关监管政策和措施大体上仍能令行禁止，这成为太平洋战争爆发前外汇市场得以维持的重要因素。日伪金融势力则始终是维持上海外汇市场的破坏力量。

The Financial Business and Foreign Exchange Market in Shanghai Before the Pacific War

After the Anti Japanese War broke out,the policy and measures of foreign exchange under the revision of the National Government(KMT) was still being implemented in Shanghai.The national bank,supported by its foreign exchange as well as funds from the British and American governments and related banks,could still intervene in the exchange market of Shanghai.Most foreign banks were striving for the foreign exchange at the price posted by the government or were undertakers of illegal markets.Their transactions were bound in after the British and American governments intervened with united action.Ordinary banks of China could not afford the power to play an active part in the maintenance of foreign exchange market,but the financial business of Shanghai headed by the monetary guilds would still take the KMT government that had been moved to the west as the only legal government of China.So it was possible for the government to see that their regulations and measures in the field be obeyed well to the point,which was an important factor in the existence of foreign exchange market before the Pacific War.The illegitimate government under the control of the Japanese army had always been a destructive force in the foreign exchange market in Shanghai.