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Chapter 375 National debt

Zhu Youde said casually that he really didn't feel the need to sacrifice to heaven and earth, otherwise he wouldn't have declared war casually.

But Cui Li became angry: "Your Majesty, why don't you go for such an important event? You must go. If Your Majesty doesn't go, wouldn't it be disrespectful to the gods of heaven and earth?"

Damn it!

I am not superstitious.

Feng Bogong said: "Your Majesty, since ancient times, only the emperor has been the only one to offer sacrifices to Chi You. If Your Majesty doesn't go, what qualifications does Cui Li have to offer sacrifices to Chi You?"

The god of war worshiped in Daliang is Chi You.

It seems that he said the wrong thing, but it is necessary to be superstitious. If the ministers didn't think this matter was very important, Zhu Youde would have no idea at all.

Isn’t it nice to play with young ladies in the harem?

Kong Shangshu said: "Your majesty's failure to leave would be disrespectful to etiquette."

Cui Li nodded quickly, "You're right, Emperor, how can you not go?"

If you don’t show me the fruits of my hard work, who will show me?

Must go!

"Your Majesty, Holy Might!"

"Your Majesty, Holy Might!"

Zhu Youde did not expect that he would arouse the anger of the public, and said quickly: "In that case, I will just go. Okay, that's it for the Southern Tang Dynasty. Let's talk about other things."

The minister was satisfied. As for Tang Boyong and others who were still outside asking for an audience, he should wait for now. He had no time to pay attention to them.

It's rare that Zhu Youde goes to court, and everyone has a lot to say.

The Minister of Industry reported: "Your Majesty, Chidao has started construction, but the progress is a bit slow. I would like to ask you to pay 100,000 yuan in labor to speed up the progress."

Labor service means asking people to bring their own food and work without paying them. This is an act of free prostitution by the state.

Zhu Youde said: "How about we discuss it?"

Feng Bogong thought for a moment: "It's not appropriate. The migrant workers who were recruited to build Chidao were given money and food every day. Now that they are required to do labor, these people must be dissatisfied. Why not recruit them? The treasury..."

Feng Bogong looked at Lu Jun!

Lu Jun immediately said: "The treasury has money, and the Imperial College has merchants enrolling in schools. The treasury already has savings and can spend millions of silver coins. It is enough for 100,000 people for one year."

It's enough to make some money by doing this kind of work for the country, certainly not too much. With one million silver, if you recruit 100,000 people, each person can earn ten taels a year.

Of course, after eating and drinking, there are only three to five taels left, but for the common people, during the Chinese New Year, only three to five taels is enough to have a good year.

After all, this is much better than levying forced labor. Who in the village has a place to earn ten taels of silver a year?

Feng Bogong asked: "How much money does the Ministry of Household Treasury have?"

Lu Jun looked at Feng Bogong warily: "I can handle the affairs of the Household Department without Feng Shangshu's concern."

You've asked too many questions. How much money is left in the treasury? Is that what you should be asking?

What do you want to do?

Luo Yunshan's eyes lit up, there was money in the treasury.

"Lu Shangshu, when will you give me the military expenses for the northwest? There is also a war in the southeast now, and the military expenses..."

Lu Jundao: "Of course the military expenses will be sufficient, but don't ask. Just come to me later. As for how much money is left in the Ministry of Revenue, that is a matter for my Ministry of Revenue. It has nothing to do with you, unless His Majesty asks."

Zhu Youde didn't ask, and regarded the looks from those ministers as non-existent.

Lu Jun was very satisfied with Zhu Youde’s attitude!

That’s it!

The Ministry of Accounts is my department. Have I ever asked about your department's affairs?

Lu Jun cupped his hands and said, "I would like to report to your Majesty that I have recently checked the Household Department and found that the Household Department owes a lot of debts. Among them, the debts owed to merchants in the city have been more than twenty years, and now they still have to repay the interest."

Zhu Youde's mouth twitched and he was speechless.

You haven’t paid off the interest for twenty years?

Is this possible?

The interest alone is several times more than the principal.

There's something fishy here.

Lu Jundao: "I have been in contact with those creditors recently and want to repay the principal. Those creditors have avoided me one after another. They are really profiteers and unfaithful to the people. I ask your majesty to issue an edict to punish these creditors and ask them to come to the household department within a time limit to settle accounts, otherwise they will be arrested.

.”

Zhu Youde's heart skipped a beat, "Do you know why those merchants don't want the principal and still want the Ministry of Accounts to owe them?"

"Your Majesty, because it is profitable, even if the treasury has no money, the annual interest will not be lost to them. If there is no money temporarily, the food and materials from the treasury will be used to replace the interest. Therefore, those merchants can benefit from it every year, and naturally they are not willing to take it back.

The principal and even the merchants gave me gifts, hoping that the Ministry of Revenue would continue to default on them!"

What is this? This is a national debt!

When the country had no money, it borrowed money from merchants and paid interest, and these merchants reaped the benefits.

This shows that Daliang Treasury has great credibility in the minds of these businessmen.

Excellent reputation.

But this kind of procrastination and wanting to keep earning interest will naturally damage the Daliang treasury.

Zhu Youde thought for a moment: "Sir, from now on, we order all creditors to settle their debts. If it is overdue, the court will not recognize it. Their interest alone has exceeded the principal for so many years."

"Your Majesty is wise, that's what I mean. Merchants are cunning, and this kind of behavior cannot be spread."

Zhu Youde smiled and said: "However, if the national treasury expenses increase every year, it may not necessarily mean that there will always be money in the future. In this way, the treasury is used as a guarantee, and the debt is released for three years and borrowed for five years. It is agreed to repay it after three to five years. The interest can be 10%. There is a national debt under the Ministry of Household Affairs.

The department is specifically responsible for this matter. Let Zhou Chaozong be the director of this department and set up a treasury bond exchange in Jinling, which will be managed by the Treasury Bonds Department of the Ministry of Accounts and supervised by the Ministry of Accounts."

Lu Jun was stunned, and the ministers were dumbfounded. They didn't understand!

They understand the national debt, which is what the Ministry of Accounts borrowed money from before.

But why do we need a Treasury Department and an exchange?

What does the emperor want to do?

Lu Jun quickly said: "Your Majesty, I don't understand, so I would like to ask your Majesty to explain this..."

How embarrassing!

Emperor, what are you talking about?

Zhu Youde smiled and said, "It's a ghost if you understand."

"It is simple to say, for example, when you are short of money and need to borrow money, then calculate the amount of borrowing, the interest rate, calculate the principal, and then break it down into small notes and sell them to the people through the exchange. When it expires, the people can go to

The principal exchanged on the exchange earns interest.”

"For example, if the country wants to build a highway, it needs to invest 10 million silver, and it is agreed that the interest will be 10%. It will be returned after three years, which means that it will have to pay 11 million in principal and interest. In this way, the 10 million investment will be divided into 10,000

Each share of the national debt is one thousand taels. When it matures in three years, one share can be exchanged for one thousand one hundred taels. Do you understand?"

Lu Jun thought for a moment: "Then the treasury lost money?"

"How can it lose money? The imperial court used private money to build the Chi Road. It can set up customs taxes and collect tolls on the Chi Road, which is enough to make up for it. The imperial court spent 10 million silver for three years. Shouldn't it compensate the people? It's just one day.

It’s just interest. Nowadays, there are countless wealthy businessmen in Jinling. These people have money, but they don’t know that Cai Zhen is here to give them a way to make profits!”

Is that so?

But why do we sound like your emperor is plundering?

As the minister thought about it, he felt more and more that Zhu Youde was trying to make money.

Just print some small receipts and take back the money in people's hands. Damn it!

It's too dark.

The minister thought he had figured it out. The emperor was evil-hearted.

But he is the emperor, haha, they will not be fooled. Anyway, the emperor wants to cheat those businessmen, and they will not buy it.

Lu Jun nodded: "Your Majesty has advanced ideas, I will try it."


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