上一节中，提到了传统合会的分类和作用，以及互助性和互利性在合会中的表现形态和影响。而在如今的大众眼中，一提到合会（标会、台会），坏印象之一就是“高利率”，是一小撮别有用心的会首，用高利息诱惑广大不明真相的群众，搞非法集资。但事实并非如此，合会其实利率较低，且互助性和互利性始终并存，只是在不同时代表现出不同的形式。

On a section,Referred to the traditional close will classification and function,And mutual and with each other benefit in the joint meeting of the forms and influence.And in today's public eyes,At the mention of joint will(Scale will/Table will),A bad impression is one of"Higher interest rates",Is a handful of ulterior motives HuiShou,With high interest temptation the unaware of the truth of the masses,Make illegal financing.But the fact is not the case,Close will actually interest rates low,And mutual and coexist with each other benefit always,But in different era show different forms.

　　合会的利率低 Close will interest rates low

　　在民国时代，合会的利息其实并不高，不仅不高，而且应该说很低。合会借贷中的低利率，恰恰是保证合会有极为广泛的群众基础的最重要原因之一。

In the republic of China era,Close will interest in fact is not high,Not only is not high,And it should be said is very low.Close the low interest rates will lending,Just is the guarantee close will have very extensive mass basis of one of the most important reasons.

　　合会的借贷利息有多低呢？我们随便举几个例子：

Close will lending interest? How low?We literally give some examples:

　　吴志铎调查上世纪30年代北京通县合会利率情况：轮会和摇会的年息最高不过6%，标会的年息最高不过20%。（当地当时的乡村借贷市场年息一般为40%以上，印子钱则是100%以上。）

WuZhiDuo survey in the 1930 s Beijing pass county close will interest rate condition:Wheel and the wave of the annual interest supreme but 6%,Mark will be the highest but 20% annual interest.(At that time the local rural lending market annual interest is generally more than 40%,Usury is more than 100%.)

　　费孝通上世纪30年代在江苏吴江县调查情况：当地摇会年息最高不过8%。（当地当时的私人债年息一般高于30%，典当行借贷年息大约25%。）

Fei in the 1930 s in wujiang, jiangsu province county investigation situation:The local wave will be the highest but 8% annual interest.(At that time the local private debt interest per annum is generally higher than 30%,Pawnshop lending interest per annum about 25%.)

　　杨西孟对上世纪30年代全国57个钱会的利率进行了测算，结果，年息大都不超过20%，其中近七成钱会的年息都不超过15%。

In the 1930 s the YangXi meng 57 money will interest rates were accounted,The results,Annual interest mostly not more than 20%,Nearly seventy percent of the money will annual interest are not more than 15%.

　　可见，现实中合会的利率一般不到市场借贷利率的一半，甚至更低。

visible,In reality will close interest rate of the general borrowing rate less than half of the market,Even more low.

　　守望相助的民间传统 To watch the folk traditional

　　如果仅仅把合会看成是一种民间自生自发的群体性借贷组织的话，实在想不出理由来说明为啥它的利率一定要大大低于市场利率。

If only the joint will be regarded as a kind of folk authigenic spontaneous group lending organization words,Really can't think of a reason to explain why its interest rate must be well below market rates.

　　这其中的堂奥，就要说到合会中蕴含的“守望相助”传统了。

The cloaked,Speak to close the church contain"Watch help"The traditional.

　　在前一节，我们将合会分为两类：“救济型”和“借贷型”。“救济型”合会是纯粹的公益性、救济性、互助性的。诸如各种以血缘地缘关系为范畴，以宗教、宗族祭祀为名分的大型公益基金，或者诸如老人会、独龙会这些纯粹救济性的组织。而“借贷型”合会，就是会员的系列集资中隐含着借贷关系的轮会、摇会和标会。

In the previous section,We will close will be divided into two classes:"JiuJiXing"and"JieDaiXing"."JiuJiXing"Close is pure public welfare/relief/employing.Such as with various kinds of blood geopolitical relations as category,To religious/Families sacrifice for adoption of the large-scale public welfare fund,Or such as the old man will/Dragon will alone these pure relief organization.and"JieDaiXing"Together will,Members of the series is implied in the capital the debtor-creditor relationship of wheel will/Wave and the scale will.

　　看起来，这两类合会是一种并列关系。但实际上，“借贷型”合会是从“救济型”合会中演变出来的。

looks,These two types of joint will be a kind of parallel relationship.But in fact,"JieDaiXing"Will close from"JiuJiXing"Close the church out of evolution.

　　关于“借贷型”合会的起源，缺少古代文献的佐证。而相比之下，“救济型”合会的史料证据，就太丰富了。最早的大概要算《孟子·滕文公》，孟子指点小国国君滕文公如何治理百姓，其中说到这样一段话：“（组织百姓）死徙无出乡，乡田同井，出入相友，守望相助，疾病相扶持，则百姓亲睦。”

about"JieDaiXing"Will close the origin of,The lack of ancient literature evidence.By contrast,"JiuJiXing"Close will historical evidence,Is rich.The earliest probably to calculate[Mencius · TengWenGong],Mencius show small prince TengWenGong how to manage people,The said such a sentence:"(Organization people)Die without a Christian land,Township field with well,Access phase friend,Watch help,Disease phase support,People kiss is another."

　　此后，孟子提倡的守望相助精神，在中国乡村可谓是代代相传。其具体表现，就是民间以血缘宗族和地缘乡亲邻里所搞的五花八门的义仓、会社，而“救济型”合会，从形式上来说，不过就是具有源远流长历史的民间义仓、会社。

Since then,Mencius advocate watch help spirit,In the country in China it is passed down from generation to generation.The specific performance,Is the folk to blood clan and geopolitical folks neighborhood the make of omnifarious yicang (/societies,and"JiuJiXing"Together will,For in the form,But it has its history has a long history of folk yicang (/societies.

　　第二类合会从第一类合会演化而来，它的基因中也就不可避免地带有第一类合会的救济性、互助性的成分。民国时期“借贷型”合会盛行，合会组织总是在以会首为核心的血缘地缘关系网中展开，合会成员与会首总是非亲即友，带有浓浓的亲情乡情。而且都会按惯例设有酒席，集资会款大，则酒席丰盛规格高；会款小的，也往往备有茶点。这种酒宴，并非当代之会务费，而一般都是谁当期得到集资款（得会），谁设宴招待。（也有的地方规定始终由会首出钱招待。）其社会学意旨很明显，就是大家本期集资给你，是对你的帮助，你应该设宴招待大家，以示谢意。

The second class will close from the first kind of joint will be evolved,Its genes also inevitable zone is the first kind of joint will relief/Mutual composition.During the period of the republic of"JieDaiXing"Together will prevail,Close will organization is always in HuiShou as the core blood geopolitical relationships expansion,Close the members first kiss is not always a friend,With a strong family affection.According to the practice and will be a feast,Funding will be of great,The Dutch abundant high specification;Paragraph will be small,Also often have tea.This symposium,Is not the contemporary participation,And who is generally get JiZiKuan current(would),Who gave a banquet in honor of.(Also some local regulation by HuiShou always treat money.)The sociology will obviously,Is everybody current funding to you,Is to you for your help,You should banquets everybody,To show thanks.

　　考察合会的民国学者往往仅从纯粹经济的观点看问题，觉得办合会的会众本来很穷，搞个低息贷款，互相周济一下就完了，何必额外花钱办酒席呢？纯属浪费。殊不知，合会酒席的背后维系的是会员之间的乡情亲情，代表的是守望相助的社会传统。

Close inspection of the republic of scholars often only from the point of view of a pure economic problem,Think to do joint will be the congregation was very poor,Have a cheap credit,Alms each other once it is finished,Why pay extra do? Feast?It is a waste of.Little imagine,Close behind will feast that is between members of the family,Represents the watchman help social traditions.

　　互助与互利此消彼长 Mutual help and mutual benefit and eliminates

　　但是，从“救济型”合会到“借贷型”合会，毕竟向互利性（市场交易关系）迈进了一步。而在第二类合会中，实际上也存在着从轮会，到摇会，再到标会的演化变迁，在这种变迁中，互助性渐渐消退，而互利性渐渐增强。结果，利率越来越高，合会的风险也逐渐加大。

but,from"JiuJiXing"Close to"JieDaiXing"Together will,After all, with each other benefit to(Market trading relationship)Take a step closer.And in the second church together,In fact, there are also driven wheel will,To wave will,To mark will evolutionary change,In this transition,Mutual gradually subsidise,And gradually enhance each other benefit.The results,Interest rates more and more high,The risk of combined will also gradually increase.

　　在民国时期，就全国整体情况来看，是轮会、摇会、标会三种形式并行。

In the period of the republic of,The overall situation,Is wheel will/Wave will/Mark will be three forms parallel.

　　标会的流行程度，与地方的市场经济发达程度有明显关系。市场经济比较发达的广东省和江浙地区，标会最为盛行。

Mark will popularity,And local market economic development level have obvious relations.Market economy is developed guangdong province and jiangsu and zhejiang provinces area,Mark will be the most popular.

　　另一个迹象是，就三种合会并行的地区而论，一般都是说，城镇的工商业者、小业主，以及农村富户或者做小买卖的阶层中，标会比较流行。

Another sign is,Three kinds of joint would parallel the region,Is commonly said,The town of businessmen/Small business owners,And the rural rich or children of classes,Mark will be more popular.

　　而在全国各地《文史资料》中这些七零八落而又弥足珍贵的民国老人回忆录中，有两例还专门提到了三种合会形式在当地的此消彼长情况，一例在四川苍溪，一例在江苏启东。

And in all parts of the country[History material]These scattered here and there and precious old republic memoir,There are two cases also specially mentioned three together will form in the interweavement of local situation,A case CangXi in sichuan,A case in jiangsu qidong.

　　下面我们主要以江苏启东地区为主线，参之以其他地区的材料，介绍这种更替过程，体会“互助性”逐渐减弱、“互利性”日益增强的特性。

Below we mainly by jiangsu qidong area as the main line,The reference to other parts of the material,Introduce the replacement process,experience"mutual"Gradually weakened/"With each other benefit"The characteristics of growing.

　　首先说轮会向摇会的过渡。在江浙地区，民间流传一种说法，带有借贷关系的合会，最早的起源是来自安徽的新安会，又称徽式会，江浙地区将之尊为徽州古式。考察徽州古式的形式，就是轮会。

The first said wheel to wave will transition.In the jiangsu and zhejiang provinces area,Folk history a saying,The conjunction with lending relationship will be,The earliest origin is from anhui province will xinan,Also called badge type will,The jiangsu and zhejiang provinces area will be huizhou antique.Investigation huizhou antique form,Is wheel will.

　　轮会的游戏规则，在上一节已经做过介绍，其关键点，就是会首以下得会的顺序，是由会首与会脚在充分协商的基础上，最后再由会首民主集中决定。轮会这种游戏规则，有一个优点，就是对会脚们得会谁先谁后，可以根据各自的情况，分轻重缓急，做出相对人性化的安排，体现出互谅互让、守望相助的传统精神。

Wheel of the rules of the game,In the previous section has done is introduced,The key point,The following is HuiShou would order,Is HuiShou by the foot in the basis of full consultation,Finally again by HuiShou democratic centralized decision.Wheel will the rules of the game,Have a advantage,Is the foot will they will who should,May, according to their respective conditions,Points priorities,Make relative humanized arrangement,Reflects the mutual understanding and mutual accommodation/Watch the traditional spirit of help.

　　我们前面说过，合会是一个系列集资，以中间为界，先得会者实际上是借款人，得到的是先用钱的机会，付出的是利息；而后得会者，牺牲的是先用钱的机会，收获的则是利息。那么，在有些地区，有些情况下，乡民们一时没有什么急事，就都不愿意先用钱，都乐意躲在后面多得些利息。所以，有种说法，就是较早得会的二会、三会最吃亏。那怎么办呢？会首会找几个关系好又有钱、肯吃亏又能吃得起亏的亲友协商，请他们来做二会三会。反之，也有的时间由于生产生活的季节性，导致好几个会脚都希望先用钱，那么，会首也可以在充分协商的基础上，根据各家会脚的困难情况，分出个轻重缓急。

Ahead of us said,Joint will be a series of funding,To the border of middle,First get will person is actually the borrower,Got the first chance to money,What you give is interest;And then to the will,Sacrifice is to use the money to chance,The harvest is interest.so,In some regions,In some cases,The villagers at that time have no a what urgent matter,Are not willing to money first,Are willing to hide behind many have some interest.so,There was a kind of argument,Is early enough to 2 will be/Three will suffer the most.How does that do??HuiShou will find a few good relationship and rich/Willing to suffer and can eat up kui friends negotiations,Ask them to do two will be three will.and,Also some time because of seasonal production and life,Lead to several will foot all hope that money first,so,HuiShou also can be in on the basis of full consultation,According to their feet will be the difficult situation,Ceding a priorities.

　　但是，轮会的缺点也正在此，就是这样确定轮会顺序的办法，需要会首有很高的威望、很好的组织协调能力。

but,Wheel will faults are also the,Is so sure wheel will order way,Need to HuiShou has a high prestige/Good organization and coordination ability.

　　这就要说到摇会。前面说过，摇会与轮会的差异就是一点：得会先后的顺序，不再是民主集中制式的决定，而是大家聚在一起掷骰子，凭运气决定。那我们想想，这样一来，会首的精神负担可就大大减轻了。大家赌运气，老天爷决定，谁也怨不得谁，最公平。

This is about to say to wave will be.Said earlier,Shake with the wheel will is a little difference:Will have successively order,No longer is democratic centralism system decision,But come together to throw the dice,Luck decided to.Then we think,so,HuiShou's mental burden can greatly reduced.Everybody hazard,God decided to,Nobody who cannot blame,The most fair.

　　但是凡事有一利必有一弊。摇会的方法看似公平，但却相对不那么有人情味儿。摇会相比于轮会，与守望相助的精神有所偏离。

But all things one and there will be a disadvantage.The method of wave will seem fair,But relatively less have human smell.Wave will be compared to the wheel will,And the watchman help spirit have deviation.

　　再说到摇会到标会的更替。标会就是几个想用钱的会脚，用利息竞标决定谁先得会，由此引起的连锁变化是，标会中隐含的借贷利率，只有等待每期竞标的结果才能确定，而不像轮会和摇会，是事先确定的。而且既然是竞标，结果标会的利率肯定要比轮会和摇会高出一头。

Say to the wave will to label will replace.Mark will is a few want to use the money to will be feet,Bid with interest to decide who would first,The cause chain change is,Mark the church implicit lending interest rates,Only waiting for the results of each bid to be sure,And unlike wheel can and will shake,Is determined in advance.And since it's bid,Results mark will interest rates will be better than wheel and the wave will be higher than a head.

　　从经济学的观点看，标会的做法，最符合经济学定律：把稀缺的资源，配置给出价最高者。谁会出最高的价钱？取决于两个因素的合成：意愿和能力。如果都是穷人，用钱救急，那么谁最着急，谁出高利息得会。如果都是做生意的，那么谁投资机会好，“预期利润率”高，谁就愿意出高利息得会。

From an economic point of view,Scale will practice,Most conforms to the law of economics:The scarce resources,Configuration to the highest bidder.Who will pay the highest price?The synthesis of depends on two factors:Willingness and ability.If is all the poor,Money emergency,So who is the most worry,Who out high interest to look.If is all business,So who's good investment opportunities,"Anticipated profit rate"high,Who are willing to pay higher interest rates would.

　　但是这样一来，又有两个缺陷：一者从穷人救急来说，他入合会本来就是因为有急难，希望得到大家的帮助，结果在标会的情况下，依靠高利率竞标得了会，以后还是要深陷债务泥潭，不能自拔。这与守望相助的精神有点不合。其二，对于依据自己“预期利润率”竞标的会脚来说，只要自己对自己有信心，敢出大价钱，就能得会，谁也拦不住，谁也管不着。完全失去了轮会的民主协商限制，也失去了轮会、摇会对利率的限制。会脚们不仅不限制，反而因为竞标者出高利息，自己能得更多的收益而窃喜。那么，整个合会就有一种鼓励高利率、高风险的趋向。这种趋向，是不是会给标会带来重大的倒会风险呢？标会之中，又有什么力量能够驾驭得住这种风险呢？我们下期再说。

But so,And there are two defects:From the poor darling for emergency,He will be in close it is because there is trouble,Hope to get your help,Results in the scale of the case,Rely on high interest rates have bid will be,Later still in debt to mire,Cannot extricate oneself.The watchman and help spirit is a bit off.The second,For according to"Anticipated profit rate"The bid will be for foot,If you have confidence in yourself,Dare out great price,Can have to will,You can't keep it here,Nobody tube not.Completely lost wheel will democratic consultation limit,Also lost the wheel will/Shake to rate limit.The foot will not only don't limit,But because the bidders out high interest,You can get more income and secretly pleased.so,The whole together will have a higher interest rates encourage/High-risk trend.This kind of trend,Whether will give mark will bring significant fall would risk it?Scale will of,What force can drive to keep the risk?We say next.

　　（作者系中央财经大学经济学院副教授）

(The author is the central university of finance and economics, an associate professor at school of economics)