CHINA--REPUBLIC. Lot of (4). 1913 5% The Chinese Government Reorganisation

CHINA--REPUBLIC. Lot of (4). 1913 5% The Chinese Government Reorganisation Gold Loan. Bond for 189.4 Roubles. K-306. Extremely Fine. Issued by the Russo Asiatic Bank (RAB). According to Kuhlmann, 109,397 bonds remain outstanding. The aim of the loan, totalling twenty five million pounds, was to pay debts from the Qing Dynasty, cover governmental administrative costs and reorganise institutions. However, Yuan Shih Kai negotiated the loan without parliamentary approval and used much of the money to strengthen his own Beiyang Army, leading to considerable political uproar and condemnation. Estimate: $160 - $260. Provenance: From the Yang Ai Hao Collection. 1913年5%中國政府善後大借款189.4盧布。四張。 華俄道勝銀行發行。據庫爾曼記載，存世量為109,397張。此筆借款總額為二千五百萬英鎊，目的在於清償清朝債務、支應政府行政開支及整頓機構。然而，袁世凱未經國會批准即簽訂借款，並將大部分資金用於擴充其北洋軍隊，引發劇烈之政治風波與譴責。

Estimación:€71.12

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