Huajiang Fabi
| 法币 Huājiāng fǎbì | |
|---|---|
| Unit | |
| Plural | The language(s) of this currency does not have a morphological plural distinction. |
| Symbol | 法币 |
| Nickname | 扔钱 |
| Denominations | |
| Subunit | |
| 1/10 | jiǎo (角) |
| 1/20 | fēn (分) |
| 1/100 | lí (厘) |
| Demographics | |
| Date of introduction | July 7, 1882 |
| Issuance | |
| Central bank | Huajiang National Bank |
| Valuation | |
| Inflation | 5,230% |
The Huajiang Fabi (Huajiangite: 花江法币; Alphabetized Huajiangite: Huājiāng fǎbì) was the currency of Huajiang that was implemented a year after the Proclamation of the Republic of Huajiang and was formulated by Ye Desheng to replace the Huajiang Jin. After the Great Continental War, the Fabi jumped into hyperinflation. It lasted from July 7 1882 to August 8 1927, replaced by the current Huajiang Yuan by He Dazhao. The Fabi was subdivided into three different coins: 10 Jiao (角), 20 Fen (分), or 100 Li (厘). In its introduction it was initially believed to be a move by the Republic of Huajiang to move forwards as a modernization of the Huajiang Jin, as well as to combat the problem of counterfiet that occurred with the Huajiang Jin.
In a brief time period during 1925 by He Dazhao in a lead up to the replacement to the Huajiang Fabi by the Huajiang Yuan, He Dezhao began drafting up plans for the replacement of the Fabi with the Huajiang Gold Notes, which never got past He Dazhao as it was seen to be as an unmitigated mess during the calculation stage. He Dazhao took several elements from this plan and later used them on the Huajiang Yuan.
Etymlogy
The characters 法币 are a literal translation to "legal tender", and was the official name given by Ye Desheng. However, the calculations behind the subdivisions and their names are different than typical Huajiang measurement nomenclature, which was also carried over to the Huajiang Yuan. The three subdivisions that were made were the Jiao (角), Fen (分) and the Li (厘). The subdivisions were created by request of the then Prime Minister Xinjia Kuang, and to this date, the subdivisions are only used in this fashion with the Huajiang Yuan.
In traditional Huajiang nomenclature and numerics, 角 represents .1 of a whole, while 分 represents .01 of a whole and 厘 represents .001 of a whole. In the reform proposed by Xinjia, 角 represents .1 of a whole Yuan, while 分 represents .05 of a whole Yuan, and 厘 represents .01 of a Yuan.