On this day, 78 years ago, on March 1, 1947 (February 9, 1947 in the lunar calendar), Soong Tse-wen was forced to resign as premier due to the gold trend. On March 1, 1947, Soong Tzu Wen was forced to resign due to the gold wave and was approved by the Supreme Council of National Defense. Soong Tzu Wen's gold policy failed, and various factions within the Kuomintang that were dissatisfied with Soong took the opportunity to launch an attack, setting off a trend of overthrow Soong, threatening to thoroughly investigate the responsibilities and punish those who failed their duties. This gold sell-off was under the responsibility of Central Bank President Bei Zuyi and Business Director Lin Fengbao, who reported directly to Soong Tzu Wen. On February 16, the Supervisory Yuan decided to send He Hanwen and other four people to Shanghai for a thorough investigation. It was found that there were no legal procedures for the sell-off, but that Lin and Yang were only acting under orders. The market sell-off was actually handled by Zhan Liansheng, chairman of the Shanghai Gold Industry Association and manager of Tongfengyu. Zhan Liansheng used various methods to privately seize no less than 200,000 taels of gold. The Shanghai District Court then sentenced Zhan Liansheng, Lin Fengbao and Yang Anren. Bei Zuyi was dismissed, and Song Ziwen asked to resign under attack from all parties.