清代「生息銀兩」制度之重新評估

所謂「生息銀兩」，是指清政府把公帑交予八旗等衙門的負責官員進行營運，又或直接放貸商人，以所得利息收入用於指定項目的公帑放貸制度。該制度放貸規模龐大，實施時間長久，初期管理頗為積極，中期則相對保守消極，以維持固定回報為主。即使在晚清洋務運動期間，清政府仍利用「生息銀兩」制度為個別行業提供長期、優惠的融資保障，促進晚清以來的現代化、工業化。可以說，清政府「生息銀兩」制度，是中國公共融資制度的本土資源，是晚清洋務運動期間官督商辦制度的本土基礎。本文梳理「生息銀兩」制度的演變，並以鹽業、銅礦業、典當業等行業評估「生息銀兩」制度的作用。

關鍵字

生息銀兩；清朝；經濟；公共資本

並列摘要

The shengxi yinliang, literally ＂interest-generating silver,＂ was a form of public financing of the Qing dynasty. The Qing government provided loans to special officials and departments or to merchants of special industries on favorable terms (e.g., with interest rate deliberately lower than the market level). This large-scale and long-lasting system of public financing contributed significantly to the prosperity and stability of the economy and society of the Qing dynasty. This paper traces the transformation of the system and evaluates its significance in such industries as the salt monopoly, copper mining and the pawn-brokering.