By putting private bank notes, both Chinese and foreign, out of circulation, systematizing note issuance to four government banks and a limited number of carefully supervised provincial agencies, the National Government made the change with far less difficulty than anyone, even optimists, dared to hope. Until the outbreak of war subsidiary coinage was copper and aluminum; this has been replaced by fractional paper, circulating decimally without discount for exchange into larger bills. Simple peasants, who used to hide a slug of silver in their fields, now conceal a Bank of China, Bank of Communications, Central Bank of China, or Farmers' Bank of China _fa pi_ (legal tender) note in roofs or walls. Other noteworthy reforms include the standardization of levies in the provinces, now proceeding to some degree, and the imposition of direct taxes, a revolutionary step for China. Income and inheritance taxes, previously thought to be uncollectible in a pre-modern area such as China's hinterland, are yielding substantial sums. War borrowing is done almost entirely through domestic loans. These are issued in the form of patriotic contribution bonds, and are available in denominations as low as Ch. Nat. $5.00 (about 28 U. S. cents). Further support has come in the form of American, British, and Soviet fiscal aid, and--until the outbreak of the European war--additional credits, both private and intergovernmental, from continental Europe. The Ministry has moved with a financial prudence which promises to maintain China's domestic and foreign credit for further years of war. The Ministry has engaged in direct conflict with the enemy through bank-note rivalry. Throughout the occupied area, National Government currency is in conflict with the issuances of the Japanese army and the pro-Japanese governments. The Chungking policy has been to hold back the invasion currencies, on the assumption that continued circulation of the national currency maintains a continued popular stake in the government. Many guerrilla leaders believe that the occupied areas should use nothing of value to the Japanese, and therefore encourage the issuance of local emergency currency. Under the Ministry of Finance, numerous efforts have been made to keep foreign trade alive. With war-time pressure on transportation facilities, foreign trade has become a virtual monopoly of the government; few major transactions are made by wholly private interests, since in addition to monopolizing the highways, government-owned corporations also have access to differentials in foreign exchange (which often mark the difference between great profits and none). In the matter of the governmentalized Sino-American trade, correlated with the American credits, the Foo Shing Corporation (export) and the Universal Trading Corporation (import) control the current both ways. The Ministries of Communications and of Economic Affairs also have a share in this state-capitalist business.[17]