In the spring of 1956 this book by Dr. K.-N. Chang was brought to the attention of the Center for International Studies in manuscript form. The senior staff at the Center felt that the manuscript, reflecting as it did the author's exceptionally valuable personal experience and the unique sources at his disposal as an organizer of China's modern banking system, and his long association with the economic and financial problems of China, could make a real contribution to the study of the Chinese financial administration and problem of inflation during the war and early postwar period. The work deserved, in the Center's view, to be made available to students and scholars in the field.
The Center therefore agreed to bring this book to publication through the co-operation of the Technology Press. We do not present this study as representing the views of the Center for International Studies or of the Massachusetts Institute of Technology. We do, however, believe that this volume will be of great value to all those who desire a better understanding of the economic background and recent inflationary problem in Chinese history.
MAX F. MILLIKAN Director, Center for International Studies Massachusetts Institute of Technology
Cambridge, Massachusetts May, 1958