上海机器织布局的筹建及其向盛宣怀抵押借款

文章从上海机器织布局的筹建着手，主要论述在彭汝琮主持上海机器织布局筹建期间，由于资金困难，织布局于1879年向盛宣怀抵押贷款，试图以此推动筹建工作的进展。但是由于贷款事件本身的复杂性，使得这次借款不仅未能达到推进织布局建设的目的，反而加速了彭汝琮筹办活动的破产。通过对这一事件的分析，我们可以从中看出在彭汝琮主持织布局筹建过程中所遇见的资金困难究竞是源自于资金本身的不足，抑或源自早期中国金融体制的不完善、早期洋务企业经理人员本身素质的不足。

The Foundation of Shanghai Mechanitcal Textile Bureau awd Mortgage to Sheng Xuanhuai

It sets about from the foundation of the bureau, centring around what had happened when Peng Ruzong presided over the founding of the bureau. Owing to the shortage of money, at that time, the bureau mortgaged to Sheng Xuanhuai, hoping that it could promote the advance of the founding work. But the complication of the mortgage itself made the mortgage not only fail to meet the aim of promoting the founding of the bureau, but even accel- erate the bankruptcy of Peng Ruzong~ founding activity. By analyzing this, we may know Peng Ruzong~ shortage of money in that period was exactly due to which cause： the real shortage of money itself, the imperfection of the early chinese financial system or the managerial staff＇s incompetence.