抗日战争爆发后,在财政收入骤然下降,而军费支出急剧上升的情况下,国民政府之财政收支出现严重失衡。为弥补日趋庞大的财政赤字,国民政府财政部采取了增加法币发行的政策。与此同时,由于自然灾害,及日军对国民党统治区的封锁,本已存在的供求矛盾更为加深,这大大刺激了物价的上涨。日军的破坏,更加速了法币价值的跌落。为了不让不断贬值的货币摧毁整个抗战工作,也为了维持国民政府本身的统治,国民党中央在管制信贷,实行田赋征实,推行各种储蓄等方面采取了一系列遏制通货恶性膨胀的措施,而所有举措只能是冲淡通货膨胀的表面现象,并不能够正本清源,对症下药。这是战争环境所形成的问题 After the outbreak of the Anti-Japanese War, with a sudden drop in fiscal revenue and a sharp increase in military expenditures, the financial revenue and expenditure of the National Government suffered a serious imbalance. In order to make up for the huge fiscal deficit, the Kuomintang government’s ministry of finance took the policy of increasing the issuance of legal tender. At the same time, the existing contradiction between supply and demand deepened due to natural disasters and the blockade of the Japanese army over the ruling Kuomintang area, which greatly stimulated the price rise. The destruction of the Japanese army even accelerated the drop in the value of the law currency. In order to prevent the continuously devalued currency from destroying the entire war effort and to maintain the government of the Kuomintang itself, the Kuomintang Central Government adopted a series of measures to curb the vicious inflationary inflation in the areas of credit control, implementation of land tax collection and implementation of various savings. All measures can only be the surface phenomenon of diluting inflation, and can not be the original source, the right medicine. This is a problem caused by the war environment