The 1941 Republic of China Patriotic Aviation Bond

This week’s family roots research now focuses on something slightly different. A small set of financial documents were found between the pages of an old photo album more than ten years ago. There were two kinds; The 1937 Republic of China 33 year @4% apr Liberty Bonds and the 1941 Patriotic Aviation Bond. The later appeared less boring.

“Black birds tend to like shiny things.” ~ The Bloody Raven

Yes friends, I am still using the alpha.leofinance even when the draft version of this post didn't save after 3.5 hours of time was wasted scupting this post. And now I'm back in the wee hours typing this all in again. Leofinance Devs, you're put on notice here. While you're at it please fix the upvote in the Article comments section. Continuing on...

The Historical Context

Built in 1933, the Boeing P26A fighter first production of mono winged all metal plane after the canvas-wood Biplane. These eleven aircraft were the newly imported Boeing P 26C variant. To the Republic crowd out at Nanking’s Lung-Hua Airport on Oct 24th, 1936, before the incident that triggered the second Sino-Japanese war, these planes were put on full display, celebrated and touted as the Republic’s air defense response to the Japanese’ continuous incursions since the first war. A negotiated peaceful agreement was seen less and less possible.

The $5 USD 1941 Republic of China Patriotic Aviation bond.

Front; Boeing P26 Fighter, Lathwork border, Seals 航空救國券 Patriotic Aviation BondLower Left corner; 建國必成 Nation building will succeed, Upper right corner; 抗戰必勝 Victory will prevailLower Left; finance minister K’ung Hsiang-hsi 孔祥熙 , the deputy finance minister Yü Hung-chün 俞鴻鈞 and seals. Lower Right; Deputy finance minister Ku I-ch’ ün 顧翊群and his seal.印年九十國民華中, Printed in the 30th Year of the Republic of China 司公票鈔國美, American Banknote Company

Shiny and new they were impressive against their frontline Curtiss Hawk II & III Biplanes that made up the bulk of Republic's Air defense of 300 fighter planes totaling 645 Combat aircraft. Meanwhile, the Japanese had 1530 combat aircraft, of that 400 were deployed in China.

American combat advisor Claire L Chennault was frank with General Chiang Kai-Shek as to the state of readiness of a patchwork of aircraft against the Japanese. The Republican General was shocked by his candid report. The Republic's antiquated air defense was no match to the Japanese Kawasaki Ki-10, Mitsubishi K-14 and newer Nakajima Ki-27 fighters, their planes could not even catch up to the Japanese bombers.

The $5 USD 1941 Republic of China Patriotic Aviation bond

Back; The Six General Regulations of the Patriotic Aviation Bond.191mm x 116mm

The P 26 fighter, nicknamed the 'Pea Shooter' was already obsolete when they came off the assembly line. Despite the technological disparity, the Republic of China’s Air Force (ROCAF) under the Command of Chennault was able to keep Air defenses cobbled together with his strategies and tactics, even as the Soviet Union recalled their Volunteer Group in mid 1940 due to Germany’s invasion. The P 26Cs saw some successful missions but far from making a significant difference in the conflict.

The $5 USD 1941 Republic of China Patriotic Aviation bond.

In 1940 with funding depleted, the National government launches the Overseas Chinese Aviation Campaign to hopefully raise $5 million USD. The response was overwhelming with funding totalling $7 million within the year. In 1941, the Republic purchased 194 Curtiss P 40 Tomahawks to replenish their badly depleted defense. The same planes that became the workhorse of the American Volunteer Group (AVG) nicknamed the Flying Tigers.

Bonus; Qing Dynasty Imperial Ten Cash Coin

1900 - 1906 Imperial China Guangxu China Ten Cash.

Obverse; Chinese Calligraphy/ beading, Rosettes Inscription 造省東廣, Minted in Kwangtung Province 光, Emperor Guangxu 寶 ᠪᠣᠣ ᡤᡠᠸᠠᠩ 元, Yuan bao currency 緒Boo-guwang Mint 文十錢制當元每,10 Cash currency in Yuan Copper, Weight 7.52g Diameter 28mm, Thickness 1.9mm

These bonds were targeted to Chinese living and working overseas, denominated in $5, $10, $50 and $100 seen here with the photograph serving as the model for the vignette.
The Patriot Aviation bonds were to be redeemable after five years, with no reference to what interest is promised, from the end of war with the redemption window appear to be long past due.

1900 - 1906 Imperial China Guangxu China Ten Cash.

Reverse; IMPERIAL DRAGON, beading, rosettes Text; KWANG-TUNG, TEN CASH Minted in Kwangtung Province Reference #Y193

Totalling all the Chinese National Patriotic Aviation and Liberty bonds I’m holding in my hand is about equivalent to 5+ gold Sovereigns literally donated to the Republic of China, by an ancestor who had successful business, talk about your frevent patriotism.

To my delight these Patriot Aviation Bonds have a new life as collectable numismatic and depending on condition can garner a good price but I am at my wits end regarding the ROC Liberty Bonds having been expired back in the 1970s, so I’ll need help to see if these are still any good. That post will have to be for another time as information surfaces.

In case you don’t know what a gold Sovereign is, here's 1911 United Kingdom 2 pounds George V in a 22k gold bezel and chain, an heirloom left from my great great grandfather.

My Hive tribute to the Asian side of my family, stacking history!

The #piratesunday tag is the scurvy scheme of Captain @stokjockey for #silvergoldstackers pirates to proudly showcase their shiny booty and plunder for all to see. Landlubbers arrrh… welcomed to participate and be a Pirate at heart so open yer treasure chests an’ show us what booty yea got!

Related Posts

1929 Republic of China 2 Jiao Dr. Sun Yat-San.
1919 Republic of China 20 Cents The Three Principles.
1874 CC American Trade Dollar, Shipwreck silver of the SS Japan.
1986 China 5 Yuan The Empress Commemorative Silver Coin.
1102 – 1106 Northern Song Dynasty Bronze Coin Shipwreck coin.

References

My own pictures shot with a Samsung SM-A530W
P. Image under Pixabay
W. Wiki Commons
☠️🎃 Page Dividers by thekittygirl. ❄️🌞

Sources and Readings

1941 Republic of China Patriotic Aviation Bonds.
chinese-heritage.com; Overseas Chinese Patriotic Aviation bonds.
Aviation History; Boeing P 26.
Smithsonian Museum; Boeing P 26 Peashooter.
Numista; China; 1900 1906 Guangxu 10 Cash.
Saltwater City, An illustrated History of the Chinese in Vancouver by Paul Yee. University of Washington Press, 1988. ISBN 0-88894-616-3.
Cameo Raven Brooch from The Black Wardrobe.
Red Dragon background banner from Nyssacat’s yard.
The 2023 Hive Silver Round
Out of print; Kung Fu Samurai on Giant Robot Island Card game by Z-Man games.

"I’m just a gal in black, not a bloody Financial Advisor!"

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