In the luxurious suite of Tianjin Dengfu Hotel, when Wells saw Ye Zhao taking off his hat and performing a curtsy, Ye Zhao walked over with a smile and gave him a solid hug.

"His Majesty the Emperor, your humble servant greets you." Wells still spoke respectfully and carefully.

Wells today is probably the richest man in the world except for the royal families of all countries. With Ye Zhao's foresight and various deployments, his wealth has soared several times.

In the ongoing American War, Wells also made a fortune in the war. He had already built arsenals in the United States and various strategic material companies and made money like crazy. Not to mention, relying on accurate information on the war in the Central and Southern China to speculate in gold, he made a lot of profits.

Of course, every time these profits are 60% of Ye Zhao.

Wells prays to God almost every night, thanking God for guiding him to Shanghai in the East and met the magical emperor in the East. Now he thinks he is the agent of the Eastern Emperor, because over the past ten years, he deeply knows that with this Eastern monarch standing behind him, he will be invincible in the shopping mall.

Not to mention other things, through the most accurate information of the Eastern Emperor on the Civil War in China, how many companies he had intimately linked to the Eastern Republic had he sanguine in the London stock market? In addition, the Sino-Dutch War, the Chinese emperor sent him a secret telegram a month before declaring war on the Netherlands, which made him know a month earlier than everyone in Europe that China would start war against the Netherlands. Moreover, based on his understanding of the Chinese emperor, he also firmly believed that the Chinese would win this war.

Not only did he prepare one month in advance, when the news of China's declaration of war on the Netherlands reached Europe, not many Europeans believed that China would defeat the Netherlands in the East Indies, which gave Wells plenty of time to deploy. At the end of the Sino-Dutch War, he had already earned nearly one million pounds by speculating on stocks of various Dutch Oriental trading companies.

Especially when the Dutch fleet was vulnerable to the Chinese navy and the news that the Chinese infantry boarded Java Island came, the stocks of the Dutch Oriental Trade Banks and companies related to Oriental Trade almost turned into blank paper. Everyone thought that the Netherlands would eventually lose the East Indies, but Wells made every effort to acquire it, and when the Sino-Dutch Treaty was reached and sold it, he felt that any wealth was just a number.

The Chinese Emperor was the magician who turned stones into gold, which even made him feel that he could trample the entire London under his feet.

In the past two years, Wells has earned more than two million pounds in the United States, becoming the first and second among the businessmen who can make a fortune in war, and the second is the American Morgan.

In the UK, he was the mysterious richest man in London, and even Queen Victoria was curious and wanted to meet him. But in front of the Eastern Emperor, Wells knew his identity very well. He was the agent of the Chinese Emperor in Europe. Without the Chinese Emperor, there would be no business miracles he performed in Europe.

When Ye Zhao heard Wells claiming to be a slave, he smiled and said, "We are friends and partners, aren't we?"

Although he was using each other when he met Wells, it can be said that without Wells' initial help, Ye Zhao would never be today. Wells bet the right treasure, so why didn't Ye Zhao bet?

"I should go to Beijing to pay homage to you, Your Majesty the Emperor." Wells still knelt on one knee and kissed Ye Zhao's hand with emotion.

Ye Zhao smiled and said, "I just happened to want to come out for a walk."

Sitting on the sofa chair and uncovering a stack of detailed lists handed over by Wells, it was the global income of Shenghexing in recent years. After taking a fraction of the money, Ye Zhao's income in the past four years was 3 million pounds, totaling 9.67 million taels of silver, equivalent to 13.82 million silver dollars, and equivalent to 22 tons of gold.

Ye Zhao nodded slightly and said, "It's not bad."

Wells said again: "I have exchanged all of you for gold."

Ye Zhao raised his goblet on the coffee table, gestured to Wells, and took a sip with a smile.

Wells hurriedly picked up the wine glass and drank it, then presented another page of paper to Ye Zhao, saying: "The government bonds you entrust Shenghexing to issue in London and the United States have been successfully sold, divided into five-year and ten-year periods. I will help you lower the interest rate of five-year periods to 3.1%. These are some general numbers, and the detailed information is there." Wells pointed to the corner of the wall, and there were two small suitcases that the big guard had just checked.

"Okay!" Ye Zhao smiled and said, "The interest rate of this treasury bond has hit a new low. Jack, I wish you three cups." Wells is efficient in doing the facts. The treasury bond of treasury bonds entrusted him to issue this time was completed in just a few months, and the interest rate was extremely low.

Wells smiled and said, "This is because His Majesty the Emperor has a good governance of the country." In fact, it is no wonder that America, which was originally the best capital assessment in Europe, has now become a sieve. But I don't know when it will take to fight. Inflation in the south has reached 9,000%, so where can investors still have confidence? Not to mention European investors, American capital has also fled one after another.

In contrast, China has the same war, but the South has shown an overwhelming advantage from the beginning. With this war, southern China has built more factories and made a series of new technological progress, waiting for the whole of China to be unified. In the Far East without an opponent, it seems that a powerful empire is emerging. There is almost no risk in purchasing Chinese government bonds, except for the unsatisfactory interest rates. However, capitalists who are eager to escape capital from America and to preserve capital have no better choice for the time being.

Wells said: "This part of the government bonds is transferred to the Ministry of Finance of your country in the form of pounds, silver dollars, gold coins and gold. After the government bonds expire, they will be paid and repaid in pounds as currency."

Ye Zhao nodded slightly. In fact, the government bonds issued this time were mainly used to repay a batch of due debts and debt rolls in Europe, as well as to purchase European rails and machines.

Now the Xin Dynasty's national debt is about to exceed the 200 million silver dollar mark, and it is too late to cut it, so I will not borrow rashly.

Although the Civil War ended, the Treasury bonds were once as high as one billion US dollars. In the current exchange rate, 1 pound was 4.628 silver dollars, and 4.866 US dollars, which means that the value of 1 silver dollar and 1 US dollar was almost the same. The Treasury bonds were once as high as one billion silver dollars.

However, China's social structure is different from that of the United States. China's social history is self-sufficient and is not as closely linked to Europe as the United States.

The debt collections Ye Zhao raised in Europe are almost all used for Western exchanges and purchase of Western material products. More than half of the remaining government bonds come from the private sector. Strictly speaking, it only allows private reserve silver to circulate and pay them to the military, military industry, education and other related industries that require government investment.

In addition to gradually relying on tax growth to pay for government bonds, Ye Zhao is preparing to issue another 20 million silver dollars this year.

This is the benefit of the country's forced currency. Strictly speaking, it is to sacrifice part of the interests of the national people to obtain national interests. In detail, it is to sacrifice part of the interests of all kinds of working classes in the south, including landlords and long-term workers, etc. to benefit the entire country and the northerners. Of course, in the long run, both northerners and southerners will benefit from it.

Why do you say so? To put it simply, in the era of precious metal currency, in today's China, the inflow and outflow of silver in foreign trade is basically the same, the total amount of money can be regarded as unchanged, but the production efficiency suddenly has a qualitative leap. Needless to say, industrial products, even agriculture, due to the emergence of fertilizers and excellent seeds, the output has increased compared with the past. With the total amount of money unchanged, the product price should decline.

But now that the total amount of currency is increased and more paper money is added, the price of the product may rise slightly.

Of course, the increase in the total amount of money, through economic leverage, can make the whole society allocated more money, which is higher than the price increase. It seems that the living standard has improved. In fact, the issuance of forced paper money has caused a large part of the surplus wealth created by the whole society to be free of charge by the state.

Of course, this monetary Fisher's theory of formula is relatively arbitrary because it ignores the speed of currency circulation in every link in society and ignores the degree of demand for different products of the entire society.

Moreover, if the foreign exchange market is involved, there are problems such as international hard currency and domestic currency circulation and settlement, currency issuance will become more complicated.

But for the New Dynasty, this theory is still correct in terms of overall thinking. It increases the money supply and relies on the purchasing power of paper money to carry out various infrastructure construction, education investment, and especially tendency investment in northern provinces. In fact, it is to sacrifice the wealth created by Jiangnan to benefit the north.

However, Ye Zhao naturally felt that it was natural that it was not inappropriate to sacrifice part of the interests of the vested interests of Jiangnan to enable the entire country to develop, and not to mention that their purchasing power of silver dollars did not decrease. Even if it declined, tighten the belt for a few years. Overall, investment in the north will bring huge returns, and ultimately benefit all Chinese people.

When Ye Zhao thought about it, he shook his head. The government had the right to issue paper money. If the productivity was liberated and the production efficiency was greatly improved, it would be easy to achieve national prosperity. Just pass on the wealth created by the improvement of production efficiency to the national treasury. When the north and the south truly develop in a balanced manner, the new dynasty would be in this stage.

However, if it is not a last resort, it is better to print less paper money yourself. It is better to have a huge government deficit, try to make less money from the people, maintain normal economic order, and not cause deflation. After all, as the domestic economy grows, relying solely on silver as currency flows will definitely lead to insufficient currency.

The current currency and silver standard system is easy to issue, and even the method of issuing the central bank directly to the government for use issuance. But I have to slowly regulate it, otherwise when the gold and silver standard system ends, this method of issuing paper money will become fatal. Even if it is mainly issued by the central bank and issued by designated commercial banks to lend to the circulation market, it will pay more attention to economic laws than the current model.

After tasting the wine, Ye Zhao said to Wells again: "Submit my pile of gold and you can also subscribe to the government bonds. I will ask someone to issue the bills and you will transfer them to me."

Wells smiled and nodded, saying, "I will definitely do it well and it's appropriate."

Ye Zhao smiled again and said, "Come to China and have fun for a few more days, and I won't be with you."

Wells said: "I have always longed for the empire created by His Majesty himself. I think no one in this world knows better the impact of His Majesty on this land than me. So, I am Your Majesty's loyal believer." Sometimes, Wells really has an illusion that the Chinese emperor is an omnipotent God, and these words are 90% from the heart.
Chapter completed!