Postwar
The end of the conflict brought little respite to the Nationalist government, which continued to struggle with Communist forces. But they were able to issue commemoratives to remember President Lin Sen, who had died in 1943, to mark the October inauguration of Chiang, and to celebrate the Allied victory.
Inflation had been creating a need for ever-higher values throughout 1945, but in 1946 things went out of control; stocks of stamps, some dating back to 1931, were surcharged with values up to $2000, and a new design (still featuring a portrait of Sun Yat-sen) went up to $5000.
1947 saw a number of commemorative issues, and further inflation, a Sun Yat-sen with plum blossoms issue reaching $50,000 that year, then surpassed in 1948 with reissues topping out with a $5,000,000 stamp.
In 1948, a gold yuan standard was adopted, and an assortment of existing stamps were surcharged with values from 1/2c and up. This was a short-lived stopgap, and by early 1949 it became necessary to stamps and overprints with a range of values, again going up to $5,000,000.
On 1 May 1949, the government took a desperate step, which was to print undenominated stamps, sold at the daily rate of the yuan. They then adopted a silver yuan standard, and overprinted still more stamps as well as reissuing the Sun Yat-sen design valued in 1-500 cents. By August, the deteriorating political situation had caught up with the postal system, and the Nationalists' last issues on the mainland were two of a planned series of pictorial designs denominated in silver yuan.
Read more about this topic: Postage Stamps And Postal History Of China
Famous quotes containing the word postwar:
“Fashions change, and with the new psychoanalytical perspective of the postwar period [WWII], child rearing became enshrined as the special responsibility of mothers ... any shortcoming in adult life was now seen as rooted in the failure of mothering during childhood.”
—Sylvia Ann Hewitt (20th century)