再论1883年金融危机

here are significant differences of opinions on the reasons, the process and the influence of China\'s first financial crisis in 1883. However, up to now, no scholars try to summarize and analysis the previous ideas to find the truth. This paper takes the statistical data and historical data as supports, and researches four core events, including the current trade deficit, the failure of commodity pricing struggle, the volatility of financial asset price and the absence of the lender of last resort to explain the integrated reasons of the crisis and construct the framework of crisis evolution for the first time.