On this day, 77 years ago, August 19, 1948 (July 15, 1948 in the lunar calendar), the Kuomintang government "reformed the currency system." On August 19, 1948, the Kuomintang government "reformed the currency system" and issued gold and yuan bonds. This time, 2 billion yuan was issued as the standard currency, stipulating that the gold and yuan bonds should be converted into legal currency at a rate of 3 million yuan per yuan. At this time, the total amount of legal currency issued had reached 660 trillion yuan, 470,000 times the amount of 1.4 billion yuan issued on the eve of the Anti-Japanese War. Prices increased by 5 - 11 million times compared with the average prices from January to June 1947.