Chapter 219 Financial Crisis
The brunt of the brunt is the national monetary reform that Guangxu is planning. Guangxu spent a lot of effort and finally raised funds for reforming the currency system from Tongshang Bank. As a result, the establishment of the Ministry of Revenue Bank was preparing to carry out national monetary reform, but was jointly opposed by the governors and governors of various provinces.
There is a law that does not punish the masses. The governors and governors from all provinces have joined forces to fight against the court, and Guangxu could only stare at him and sulk.
Looking at Guangxu's frown and depressed expression, Prince Qing Yikuang gave Guangxu an idea.
"Your Majesty, I have a way! 1...
Guangxu was immediately delighted. When he looked up, he looked down and looked down. Guangxu really didn't dare to think that Yikuang could have any good ideas, but due to Yikuang's identity, he had to listen reluctantly.
"What are the opinions of Prince Qing?" Yikuang smiled with a sharp mouth and monkey cheeks, his face full of wrinkles, and his long-term wine almost emptied him. In order to maintain his luxurious life, Yikuang had to completely surrender to Wang Chenhao's money offensive and became a tool for Wang Chenhao to control the imperial court.
Guangxu wanted to take over the mints and ticket numbers from the governors of various provinces, but the governors of various provinces had great power, and Guangxu could not confront them head-on and was unwilling to accept it.
At the same time, Wang Chenhao was not satisfied with the Dragon Coin in Zhili. He also hoped to control the national currency in his hands in the whole country. Although the governors and governors of various provinces took Wang Chenhao's power and did not oppose the circulation of Dragon Coin in various provinces on the surface, secretly, local officials of each province "disguisedly" threatened their subordinates and were not allowed to use Dragon Coin.
Based on this kind of love, Wang Chenhao needed a legitimate excuse to open up the circulation channels of dragon coins in various provinces.
Yikuang suggested to Guangxu: "Emperor, the governors of various provinces are protesting against the unification of the court in terms of currency minting and exercising rights, but the governors of various provinces are in power and should not confront them head-on." Guangxu rolled his eyes and said angrily: "You still need to say this?"
Yikuang smiled and said, "Your Majesty, what I mean is better to divert their attention and let them deal with Wang Chenhao!"
Guangxu was puzzled immediately. Didn’t this Yikuang always help Wang Chenhao say good things? Why did he suddenly change his tone today?
Yikuang saw Guangxu's thoughts and said, "The emperor, the nickname of the empress is Aisin Gioro, so he naturally goes to the court and the emperor."
Yikuang pretended very much, and Guangxu could not see that he was pretending to be a fake, so he nodded and said, "Prince Qing's loyalty can express what good ideas do you have?"
Yikuang thanked him, and then according to the plan he had agreed with Wang Chenhao, he suggested: "Weichen believes that Wang Chenhao is strong and has backed up by the Bank of America. Heard that the new currency of Zhili Bank will reach 200 million dragon coins this time. The two maces on the top of this dragon coins can show Wang Chenhao's financial strength. With Wang Chenhao's influence on Zhili, all the wealth of Zhili is now controlled by Wang Chenhao. Weichen believes that since the court cannot face the local governor head-on, it is better to use Wang Chenhao's power to let the governors and governors of various provinces bite the dog, and transform the conflicts and interests between them, so as to achieve the goal of weakening them at the same time!"
Guangxu listened to Yikuang's words and felt that Yikuang had become a different person.
With a look of surprise on his face, Guangxu asked, "What does Prince Qing mean?"
Yikuang then explained: "I suggest that the emperor might as well let Wang Chenhao carry out the great task of unifying the national currency reform, and use dragon coins as national currency, so that Wang Chenhao can directly collide with the governors of various provinces. I believe that the emperor will suffer unexpected results.,
Guangxu thought about it and although he was puzzled, he had to admit that Yikuang's proposal was very useful.
The fisherman was fighting for the rifle and clams, and the fisherman benefited, and Guangxu was immediately moved. However, he had no opinion and did not dare to make up his mind, so he called Weng Tonghe and Li Zhenzao to discuss countermeasures.
Weng Tonghe and Li Zhenzao also had joy and sorrow when they learned the whole story.
Li Zhenzao was more optimistic and said, "Wang Chenhao owned Zhili, and Li Zhenzhang, the world's number one governor, is actually idle at home. The entire Zhili Governor's Office is basically the final say of Wang Chenhao.
The governors of all provinces are aiming at the position of the governor of Zhili. Now Li Zhenzhang is old and is about to give way, but Wang Chenhao is forced to come out and rob him halfway. The governors of all provinces are old men, and Wang Chenhao is in his twenties, so this is not something that can be waited. They will not be able to die. First of all, Wang Chenhao's tree attracts a lot of wind and has been deeply envied by the governors of all provinces.
The emperor even praised him with great strength, which would inevitably make him proud, praise him with great strength. Third, Wang Chenhao has already acted as the minister of the Navy and Army, and is actually the marshal of all the armies of the court, and has the power to control the armies of various provinces. This is the most deadly thing. The governors and governors of various provinces have been in charge of the army for decades, so how can they let it go? The reason why they have not yet united to oppose Wang Chenhao is that they have not forced them to a dead end. This time it is a currency system
Reform, this reform has touched the money pockets of the governors of various provinces. The ministers think that if Wang Chenhao was asked to take care of this currency reform, all provinces would have to regard Beiyang as their enemy and would definitely fight against Wang Chenhao." Weng Tonghe said: "If Wang Chenhao and other local governors can be hostile to each other and destroy each other, and finally the court will reap the benefits of the fisherman, this is a clever plan. However, why would Wang Chenhao run so stupidly to confront the governors of various provinces?"
Guangxu also had this question and said, "Yes, Wang Chenhao probably won't do it." Li Zhenzao smiled and said, "I think Wang Chenhao can do it! First, he said that the king wanted the minister to die and the minister had to die. The emperor asked him to hand over this important task, and then he made great efforts, so that he could accept it or not, and he could not help. This is a coercion, but it also needs to be comforted, otherwise Wang Chenhao would not be able to work hard. He had to give him a sweet date to eat with a stick."
Weng Tonghe said, "What sweet dates are given to him? We have repeatedly compensated our wife and soldiers, so we dare not give him any benefits!" Guangxu waved his hand and said, "I may not be able to not give benefits. In this way, I will let Yikuang go to momo Wang Chenhao's bottom and see what he has to ask." Then Guangxu summoned Yikuang and beat Yikuang to explore Wang Chenhao's bottom.
Yikuang then went to Wang Chenhao with great enthusiasm and told him that the matter was basically done.
Wang Chenhao kept Yikuang in the living room, and he found an excuse to go to the side hall next to discuss with his subordinates.
"Now, we plan to hand over the power of national monetary reform to me. What suggestions do you have?"
Ruan Zhongshu said: "This matter is risky. Carrying out currency reform across the country will affect the core interests of local governors and will not be easy to implement. The emperor has hit a wall, so you have to be a young man.
Heart."
Zhang Feng curled his lips and said, "It is normal for the emperor to encounter a wall. It would be strange if an emperor does not encounter a wall. But the adults are different. No governor can give you face. I believe this is not a problem."
Wang Chenhao nodded. He felt that he was strong at present and the governors of all provinces had to give face, so he leaned towards Zhang Feng's point of view, otherwise he would not have arranged for Yikuang to sing a double act with Guangxu.
Wang Chenhao turned to Zhang Jiaji, Song Hanzhang, Ye Jingkui, Chen Jintao and Wang Kemin and other domestic banking and financial industry experts, and asked: "Do you think if I accept the nationwide monetary and financial reform, do you have the ability to complete it?"
Wang Chenhao's words were already very clear, and he decided to accept them, so I asked these financial experts if they were sure.
Ye Jingkui said: "We have already had the experience of promoting monetary reform in Zhili, and the dragon currency is currently operating well. With the financial resources of the adults, if we can get legitimate appointments from the court, it should not be a problem to carry out monetary reform across the country."
Song Hanzhang said: "But I suggest that you must take the imperial court's Ministry of Revenue Bank in your hands, and the right to mint coins and currency exercise must also be in your hands, otherwise you will fill in all your assets."
Wang Chenhao nodded. He understood the meaning of Song Hanzhang. According to the calculation of the fine chess, the total amount of national gpd is estimated to be around the old USD. According to the minimum gold reserve, the minimum gold reserve is GDP.
20%-30% of the total amount requires 429 million US dollars of gold reserves. For more than 400 million people, each with a 5-yuan dragon coins, 2 billion dragon coins are required. If the Qing Empire's central bank and currency minting rights cannot be controlled in its hands, it will be very dangerous.
Wang Chenhao nodded and said, "You start preparing! I will get all the bank of the Ministry of Revenue and the exercise of currency minting."
Everyone accepted the order, and Wang Chenhao returned to the main hall and told Yikuang what he asked.
Of course, Yikuang would not miss this good opportunity to make money, so he immediately asked Wang Chenhao for the benefit. Wang Chenhao then promised Yikuang that if he got the right to mint the bank and currency of the Ministry of Revenue, he would promise him a future stock of the Central Bank worth 10,000 dragon coins.
Yikuang was immediately excited and quickly assured Wang Chenhao that he would persuade Guangxu and the court to agree.
Yikuang left Wang Chenhao's official residence and hurried back to the Forbidden City to report to Guangxu.
"The Ministry of Revenue Bank has to give Wang Chenhao all the money minting and printing and exercising rights. The court's finances and taxes must be handed over to the bank designated by Wang Chenhao to collect and deposit. This is equivalent to giving him the lifeline of the Qing Dynasty's financial resources. The emperor thinks twice."
Weng Tonghe was the first to object, while Li Zhenzao frowned and said nothing. Unexpectedly, Wang Chenhao had such a big appetite.
Guangxu was also unsure. As the saying goes, he couldn't bear to leave his children and could not trap the wolf, but Guangxu didn't trap him every time, but instead he lost his wife and his army.
Yikuang said: "Your Majesty, Wang Chenhao has an international financial expert named Jingqi.
This person helped the United States complete the reform of the gold standard, and no one was right in terms of finance. After his calculations, if the Qing Dynasty wanted to carry out currency reform, it would require at least 500 million US dollars in gold reserves. For 400 million people, each with a 5-yuan dragon coins, it would take 2 billion dragon coins. The court's financial resources could not be reformed at all."
Weng Tonghe has been in charge of the Ministry of Revenue for many years. He knows some celebrities in this area in the international field, so he said: "If it is Jingqi, it is indeed impossible to carry out monetary reforms based on the current financial situation of the court. If the reserves are not enough, foreigners will take the opportunity to intervene, and they may cause national disaster."
Yikuang then persuaded: "Even if the current fiscal revenue of the Qing Dynasty is handed over to Wang Chenhao for management, it is far from enough for reform. Wang Chenhao has to pay it out of his own pocket. If he does not give him the right to mint and exercise the rights, he will definitely not do it well. Then the emperor's plan will not be implemented."
Li Zhenzao said: "Emperor, reforming the currency system and unifying the national monetary system is a major event that benefits the country and the people. Now, the governors of various provinces use the imperial court to abuse paper money and minting coins, which has caused public resentment. The old surnames are all scolding the court!"
Guangxu couldn't hold it back and asked, "What do you mean is that I promised him this condition?"
Yikuang hurriedly said, "The emperor is wise!" Weng Tonghe and Li Zhenzao also said, "If you plan to use Wang Chenhao to deal with the governors of various provinces, you have to give benefits to Wang Chenhao. Without enough benefits, Wang Chenhao will definitely not do it.
Guangxu thought about it and finally made a decision, saying, "Since it is a major event for the country and the people, I will compromise once! Prince Qing, go to the Military Affairs Office to inform them of the order and ask them to appoint Wang Chenhao as the plenipotentiary minister of the national currency reform, give him the bank of the Ministry of Revenue, and allow him to sign a currency bank and a minted bank on his own, and the court will not interfere."
Yikuang received the order and hurried down to handle it.
After Yikuang left, Guangxu sighed and said, "I don't know if what was done this time is right. If Wang Chenhao cannot be punished, it may lead to an uncontrollable result." Weng Tonghe and Li Zhenzao looked at each other and understood Guangxu's concerns. It was nothing more than that once they could not provoke a fierce confrontation between Wang Chenhao and the governors of various provinces, the court would not be able to reap the benefits of the fisherman. Once they failed, the court's financial power would also fall into Wang Chenhao's hands, and the financial lifeline of the Qing Empire would be dominated by Wang Chenhao. Once that was the case, Wang Chenhao held the military power and financial power of the Qing Empire, but it would be impossible to rule.
Weng Tonghe comforted Guangxu and said, "Don't worry, the provinces must strongly oppose monetary reform, because monetary reform touched their pockets of wealth. Wang Chenhao's current monetary reform is equivalent to rob their pockets of money. I think that Wang Chenhao will definitely not be able to reform this time, and he will pay all his money. At that time, the court will borrow Wang Chenhao's hands to attack the governors of various provinces, and secondly, to use Wang Chenhao's money on the people, which will be considered a benefit to the country. Thirdly, the money lost by Wang Chenhao will be astronomical. He will no longer be able to support the navy and army, which can be said to be a kill of three birds with one stone."
Li Zhenzao also agreed, and Guangxu can only think about the benefits now.
The next day, the court issued an edict, appointing Wang Chenhao as the plenipotentiary minister of the Ministry of Revenue's financial reform. The Military Affairs Office immediately issued this news to all parts of the country, and informed the ambassadors, consuls and military officers of various countries to China through the "General" Yamen, informing the whole world that the Qing Empire would also carry out the gold standard reform.
When the news came out, there was an uproar at home and abroad.
Not long ago, Guangxu announced that the Qing Empire would carry out monetary and financial reforms, and a tide was set off at home and abroad. At that time, there was a high concern at home and abroad. Domestic governors wrote letters to oppose it, and foreign bank groups flocked into China, preparing to buy new coins from the Qing Empire and then hoarded them to make huge profits.
But Guangxu's reform came to an abrupt end, which disappointed the bank groups of various countries. The governors and governors of various provinces also breathed a sigh of relief and celebrated their victory.
Now, the Qing government has once again launched a continued financial reform and appointed Wang Chenhao as the reform minister, which has once again caused a shocking wave. At home and abroad, no longer cared about the reform of the court, but Wang Chenhao, as the reform minister, had to make them pay attention to it.
The governors and governors of various provinces immediately wrote a letter to continue to oppose the situation, and the voices were so high that they were even stronger than the last time.
But this time Guangxu was determined to reform to the end and never compromise. The court rejected the letters from the governors of various provinces and enforced them. This was equivalent to pushing Wang Chenhao to the forefront and directly pushing Wang Chenhao to the opposite side of the governors of various provinces, increasing the conflicts between the two sides.
At the same time, bank groups from various powers have also begun to mobilize funds and prepare to rush to buy new coins because they know that Wang Chenhao has the power of reform and know that this time will definitely be successful. Some banks have gambling King Chenhao will definitely use dragon coins as Chinese currency, so they have begun to exchange dragon coins on a large scale in Zhili.
Wang Chenhao did not expect that this situation would be. Before he began reform, the provinces began to strongly oppose it and threatened that the new coins would never be able to circulate smoothly on their territory. At the same time, a craze of buying and selling dragon coins was set off on the ground of Zhili. The powerful banks began to absorb dragon coins at an average price higher than one thousandth of the value of dragon coins. In order to make money, the old surname exchanged dragon coins to banks of America on one side, and exchanged dragon coins into currencies from various countries on the other side. Then they took it back to Bank of America to continue to exchange dragon coins, and obtained exchange differences from the cycle. As a result, a large number of dragon coins in the Zhili area flowed to banks of various countries. Bank of America had to increase the printing and minting production lines on a large scale to make up for the shortcomings of dragon coins on the market.
Bank groups from various countries bought and sold dragon coins in order to make huge profits, which caused Wang Chenhao to be very nervous.
Wang Chenhao immediately found a group of staff to discuss countermeasures and discussed the huge difficulties and crises facing the current reform.
Song Hanzhang said: "Sir, it is no longer a rare thing for foreigners to take the opportunity to buy and sell dragon coins. Foreigners are born for profit, and they will go there if they have money to make money. According to the information provided by my friends in Shanghai, it is just the beginning. International financial merchants will soon flock to China to invest in the dragon coins market. They obviously believe that dragon coins will become China's national currency, hoard the dragon coins market, and force us to print a large number of dragon coins. At a certain time, they will sell the dragon rate, which will cause the price changes in the circulation of dragon coins in my country, and they will obtain this profit gap. Although this profit gap now seems to be only one thousandth of a profit of one thousand, international funds are billions of billions of dollars. Once hot money flows into China, the profit of one thousand times the base of hundreds of millions of dollars is a huge profit."
Zhang Jiabi also said: "Yes! International foreign financial merchants make money by relying on this family. But while they make money, they are disrupting our money market, making dragon coins unstable, causing price instability, causing deflation and inflation, which is extremely harmful."
Wang Chenhao said: "But we have legally stipulated the gold content and exchange standards of dragon coins. Shouldn't they lose money?" Song Hanzhang said: "Although dragon coins have legal effect, this is also relative and not absolute. Even when the British List and the US dollar were reformed, they also faced this problem.
The large-scale acquisition of dragon coins by foreign bank groups will result in insufficient circulation of dragon coins. In order to stabilize prices and curb deflation, we have to supplement the dragon coins. However, our gold reserves are not as large as those of international bankers. After a period of time, our gold reserves are insufficient. When we run dragon coins, we will not have the basic guarantee of gold reserves. Therefore, we can only increase dragon coins, which actually exceeds the standard of cashable gold reserves. At this time, bank groups from various countries sell dragon coins again, and we cannot recover these dragon coins in a short period of time, which will cause inflation and the actual depreciation of dragon coins."
Zhang Jia said, "This is their usual trick, and adults need to be prepared!"
Wang Chenhao frowned and said, "How to stop them? We can't have no choice!"
Song Hanzhang said: "The solution is that our central bank has the ability to monitor the amount of market currency and set up banks in major cities and economic pillar areas across the country to supplement the shortage of dragon coins or recover excess dragon coins at any time. But with our current strength, if we want to set up branches on a large scale, we need a large number of bankers and professional bank technicians."
Wang Chenhao nodded and said, "I will find a way to solve this problem as soon as possible. Are there any other emergency solutions?"
Everyone was silent.
Jingqi, who had been speechless, suddenly said, "I have a way!"
Wang Chenhao asked quickly: "Mr. Jingqi has something to say!"
Jingqi then said six, "I suggest that Lord Wang apply to the court to formulate a banking law, which stipulates that buying and selling dragon coins is illegal, and to curb private si’s own trading of dragon coins."
Song Hanzhang said: "But the bank group of the great powers may not implement it!"
Jingqi said: "Then we require the bank groups of various countries to report the reserves of dragon coins in their banks and report the number of dragon coins they earn and spend every day. In this way, our central banks can control the number of dragon coins in the hands of banks in various countries and reserve dragon coins and gold for emergency response. When banks of various countries put the dragon coins on the market, their central banks will collect the corresponding dragon coins. When they earn the dragon coins, our central banks will place the corresponding dragon coins, so that they can be controlled."
Jingqi's words immediately pointed out the direction for everyone. Song Hanzhang, Zhang Jiabi and others immediately figured out the mechanism and nodded to Wang Chenhao for agreement.
Then, Jingqi said: "However, for the sake of security, I suggest that Lord Wang discuss with governments and bank dealers in various countries. Many things can be resolved through political consultation."
Wang Chenhao nodded and said, "I understand what Mr. Jingqi means. I will discuss with the governments of various powerful countries. Thank you Mr. Jingqi for your advice. I will hold a banquet later and thank Mr. Jingqi for your help. You will also participate together."
"Thank you!" @.
Chapter completed!