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"Undertaking Purchase" and "Purchasing Grain" in Song Dynasty

WEI Tian-an(Institute of History,Henan Academy of Social Sciences,Zhengzhou 450002,China)  
Undertaking purchasing and purchasing grain is the system of trade department to buy commodity for upper government and grain for the military in the border areas.The government paid money in advance to the agents.The amount was lower than that of government purchasing directly.The agents took their house,land deed and gold and silver as mortgage,and guaranteed to the governing department to hold responsibility for its gain or loss themselves,and promised to finish the task in time,or would be punished.The nature of the capital is money paid in advance instead of loan,so the agents didn't have to pay the interest according to the government loan law.Because of less capital,the undertaking purchasing didn't popularize.The undertaking buying military grain could get profit,but the officials in charge did poor management and misappropriated the money,so the system failed in halfway.
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