DECISION OF CENTRAL EXECUTIVE COMMITTEE ON THE ISSUANCE OF ECONOMIC CONSTRUCTION BONDS

22 July 1933

[Text] Drastic developments of the revolutionary war require the soviets to
mobilize all forces to carry out economic construction in a planned way.
From the standpoint of such economic construction, the masses should be organized into broadly developing cooperatives, coordinating the production and
marketing of foodgrains and all products, and promoting external trade to
smash the enemy's economic blockade and the ruthless exploitation of traitor
merchants, thereby further improving the livelihood of the masses and enabling
the revolutionary war to gain more substantial material strength. This then
is the major fighting task at the present time. With a view to vigorously
carrying out the work of economic construction, the Central Executive Committee
has approved the proposal at the workers' mass meeting of the Land Ownership
Investigation Movement and the Poor Peasant Group People's Congress of eight
county soviets of Jui-chin, Hui-ch'ang, Yu-tu, Sheng-li, Po-sheng, Shih-ch'eng,
Ning-hua and Ch'ent-t'ing for the issuance of Economic Construction Bonds in
the amount of 3,000,000 yuan and permits the purchasers of these bonds to make
payment freely either by foodgrains or in money. Apart from using a part of
the proceeds for present military expenses, the main portion of the proceeds
will be spent in developing cooperatives, redistributing foodgrains and expanding external trade. For the purpose of ascertaining the use of these bonds
and the procedure of payment of their principal and interest, the Central
Executive Committee hereby enacts the Regulations Governing the Issuance of
Economic Construction Bonds. It charges the People's Committee with the
responsibility of urging the People's Finance Department and the People's
National Economy Department to direct local governments to issue and distribute these bonds correctly and promptly in accordance with this decision
and these regulations and at the same time to make broad publicity and explanation to workers and peasants as well as all residents who abide by soviet
laws and decrees so that economic construction can be speedily launched throughout the soviet areas. Any anti-revolutionary elements attempting to sabotage
the faith and credit of the bonds and any economic measures will be severely
suppressed by necessary measures to be adopted by the National Political Defense
Bureau in order to insure the satisfactory implementation of the work of economic
construction.

Mao Tse-tung, Chairman
Hsiang Ying, Chang Kuo-t'ao, Deputy Chairmen

22 July 1933
"Red China," No 96, 26 July 1933