法币改革是受西方货币管理通货制的全面推行影响而实行的,它有别于晚清以来的其他币制改革计划,在一定程度上受外债制约明显减弱。事实上,在没有举借任何外债的情况下法币改革却能成功进行。法币改革后,外债仍然成为维持法币稳定的重要因素,只是外债并未成为列强控制中国币制的载体。然而,中国政府对外债与法币之间关系问题并没有形成明确的政策倾向,处于一种骑墙的状态。 The reform of the legal currency was effected by the full implementation of the currency management system in the West. It was different from other monetary reform programs since the late Qing dynasty and was somewhat weakened by the external debt constraints. In fact, the reform of the law currency can succeed without borrowing any foreign debt. After the reform of the legal currency, foreign debts remained an important factor in maintaining the stability of the legal currency, except that the foreign debt did not become the carrier for the powers to control the Chinese currency. However, the Chinese government did not form a clear policy orientation on the issue of the relationship between foreign debt and legal currency, and is in a state of “riding a wall.”