18/08/2026
26th Year of Republic of China $100 Liberty Bond - Full Coupons
The 26th Year of Republic of China $100 Liberty Bond, issued on September 1, 1937, marked a significant moment in the history of sovereign debt. This instrument was authorized by the Ministry of Finance and was introduced in response to a critical national crisis: the outbreak of the Second Sino-Japanese War following the Marco Polo Bridge Incident. The government saw these 4% interest-bearing securities as a vital patriotic duty to sustain the country’s military campaigns and stabilize its crumbling wartime economy.
The $100 denomination featured distinctive blue security borders adorned with intricate traditional Chinese motifs and formal calligraphy, symbolizing sovereign legitimacy and fostering national unity. Designed as long-term investments, these financial instruments carried a 33-year maturity schedule, with periodic interest coupon payments extending until 1970.
However, the tumultuous trajectory of mid-century Chinese history disrupted these obligations. After the Chinese Civil War, the Nationalist Government retreated to Taiwan in 1949, and the newly established People’s Republic of China defaulted on the outstanding debt. Consequently, the bonds remained unredeemed.