"Sorry (Vice President)! This is no child's play. How can you think of not compensating and not compensating!"
Tang Shaoyi and Liang Qichao were both anxious. They had always thought that Zhang Tinglan was relatively calm and good at planning and making moves, but they never knew that Zhang Tinglan had such a fierce side. If the international debt is not compensated, it will not be compensated. This works.
What!
"I would like to say that debt is related to the country's credit. If not, the big powers will join forces to sanction us. By then, goods will not be sold, trade will not be carried out, the currency will depreciate, and the national economy will collapse. The consequences will be unimaginable. You have to think about it clearly."
Zhang Tinglan took a deep breath, sat down again, closed his eyes and thought about it. He had already thought about the issue of finance and debt. This was an issue that he had to face after entering Beijing, but he did not think of it.
He will come to your door so quickly.
"Mr. Shaochuan, although Fengtian has fought two major wars in a row and shaken its foundation, it is still possible to squeeze out three to four million per month. If it is sent to the central government, it may be able to maintain operations, but I want to ask you
, does this kind of maintenance make sense?”
Zhang Tinglan said in an extremely calm tone: "The development of the three eastern provinces has also benefited from the country's human and financial resources. It is inevitable to give back to the country. Zhang has no regional prejudice. All Chinese are compatriots and should develop together. However,
There is a premise for this, that is, the money must see results and cannot be wasted, otherwise I will not be able to explain it to the enterprises and people in the Northeast.
Tang Shaoyi and Liang Qichao also looked at each other with embarrassment in their eyes. What Zhang Tinglan said makes sense. You can't just use money to fill a bottomless pit. Do you really want to pay off all your debts like Zhang Tinglan said?
What?
"Mr. Shaochuan, I would like to ask you how much compensation is stipulated in the Xinchou Treaty?"
"Four hundred and fifty million taels."
"According to the reparations method of the great powers, how much do we have to pay?"
"The great powers asked us to pay it off in 39 years. The annual interest rate was 4%, and the total compensation was 980 million taels. However, due to changes in silver prices and the borrowing of new debt to repay old debts, the total compensation exceeded one billion taels. However,
Due to the problems of the European War, reparations to Germany and Austria-Hungary have been stopped. After the Russian Revolution, reparations have also stopped. In addition, because the Fengjun defeated Japan, we are also discussing to completely stop reparations to Japan. At present, only
As for the remaining countries such as Britain, the United States, France, Italy, and Japan, the compensation we have paid has reached more than 500 million taels. There are also about 200 million in compensation!"
Listening to the figures provided by Tang Shaoyi, Zhang Tinglan also nodded slightly. According to later statistics, during the 37 years from 1902 to 1938, the total actual payment of the Boxer Indemnity was 664 million customs taels. After deducting refunds from the United States, Britain and other countries, China actually paid
The amount of reparations paid to the imperialists totaled more than 576 million taels.
Since the refund actions of various countries were around the 1920s, it was mainly to ease relations with China, but in fact, China had already repaid the bulk of the reparations before that.
"Mr. Shaochuan, of the 450 million to 500 million taels in compensation, we have already paid more than 500 million taels. Isn't it enough? Do you think this debt should continue to be repaid? And the Boxer Indemnity is just a more conspicuous item.
, the great powers have also made some refunds, but there are no other loans and indemnities at all. Our debts are getting more and more repaid, what is the difference between this and the donkeys rolling around in the countryside?"
Zhang Tinglan's words go straight to the core of the problem. Since the end of the Qing Dynasty, China has handed over 20% to 30% of its fiscal revenue every year, and in some years it has reached 40%, to the great powers. Every penny has been soaked in the blood and sweat of the Chinese people, but China
The reparations and loans owed to foreign countries have not decreased at all, but are increasing. If historical development is followed, by 1949, the total will reach 30 trillion.
The gross national product during the same period was only about 50 trillion, and because it was an agricultural society, the government's fiscal revenue was even lower. It was burdened with such a huge debt, and the interest compensation alone every year was enough to overwhelm the country.
Angry.
It can also be seen from this that the government of the Republic of China is keen on developing light industry that can bring in quick money, but is unable to invest in heavy industry that is related to the life and death of the country. But for a big country like China, without heavy industry, there is no backbone and can only become
A piece of fat meat, ready to be slaughtered.
Tang Shaoyi and Liang Qichao were also silent. Zhang Tinglan was right, this is a loan shark that cannot be repaid. In fact, this is the purpose of the great powers. They don't care how much money China pays back. What they want is for China to be burdened with this debt forever.
Then it becomes their ATM machine.
The inability to be financially independent is just like a person without money. People are poor and have short ambitions, and the same is true for the country. Without money, there is no ability to develop and keep asking for and taking. The great powers can use various means to confidently and boldly seize China's natural resources and sell them.
The profits from their industrial products are even more astonishing. They are ten times or a hundred times higher than the simple compensation.
After thinking about it, Tang Shaoyi gradually began to agree with Zhang Tinglan's crazy idea. Since she couldn't afford it, she simply wouldn't. Once this idea took root, it became a lingering voice in her head.
It kept ringing.
After a long while, Tang Shaoyi smiled bitterly and said: "I have made the truth clear in my words. After much thought, I have the only option to refuse the debt!"
"No!" Liang Qichao waved hurriedly from the side: "Shaochuan, you were quite calm just now, why are you confused now? If you default on your debt, don't you know how serious the consequences will be? You want to watch the country's economy collapse?
What?"
"But if we continue to pay losses like this, there will be no funds for national construction, and nothing will develop. If things go on like this, it will not be as simple as economic collapse, but a catastrophe of national subjugation and genocide!"
After hearing what Tang Shaoyi said, Liang Qichao was immediately stunned. He couldn't say anything anymore and could only lower his head and say nothing.
Zhang Tinglan rolled his eyes and then smiled: "The consequences of defaulting on debts are not that terrible. Didn't our neighbor the Russians just default on all their debts?"
"Immodestly, are you ready to imitate the majority party?"
Liang Qichao raised his head suddenly and said in surprise: "This is absolutely impossible. After the Russians have abandoned their debts like this, they have cut themselves off from the international market and have been subject to joint sanctions from various countries. I heard that the economy is already in distress.
To the extreme.”
Zhang Tinglan smiled and waved his hand: "It's not that serious. In fact, there is nothing wrong with being independent behind closed doors. It's just that the Russians have a large territory and rich resources. They can be self-sufficient except for things like rubber. Therefore,
They also have this condition for their planned economy. We do not have the foundation of the Russians, and our population is too large. It is difficult to develop ourselves if we are self-sufficient. We must communicate with the world market, so we cannot just ignore the debt like Russia, but
Use a more flexible approach.”
After all, Tang Shaoyi was a young boy studying in the United States, so he still had some knowledge. He thought for a while and said: "I would like to say that there is a common practice in the world, that is, bad debts cannot be repaid. For example, during the American Civil War, the northern government stated,
They will not bear the debts borrowed by the South. In fact, when the Republic of China was founded, if we had had enough courage to directly declare our refusal to recognize the foreign debts of the Manchus, we would not be where we are today!"
"Hey, in order to win the support of the great powers, Sun Wen immediately announced that he would inherit all the treaties signed by the Qing Dynasty. What could he do?" Liang Qichao sighed.
Zhang Tinglan's mind is also spinning. There are three countries in history that have said no to huge foreign debts. One is Russia after the October Revolution, the other is Nazi Germany, and the third is New China in later generations.
While the current situation is not so bad that it is irreversible, there is no need to fight to the death and give up immediately. Perhaps Hitler's approach is worth learning from.
Thinking of this, Zhang Tinglan made up his mind and said with a smile: "Mr. Shaochuan, I will first allocate 20 million special funds to you. You will be responsible for keeping the government running for three months. Use this time to improve the situation in Beijing and Tianjin."
After stabilizing, let the Ministry of Finance formulate a plan and negotiate with the United States, Britain and other countries to ask them to suspend repayment for three years and wait until the domestic economy recovers before discussing reparations. If they agree to this condition, we can open up foreign investment
, providing more convenience for Western companies."
"Haha, I have to say that this is a delaying strategy. I think it's good. If we can buy three years, the situation in the country will be much better. I'll start making arrangements right away!"
"Well, but Mr. Shaochuan, when making preparations, we must keep it strictly confidential and not let the great powers know our true plans."
After the explanation, Tang Shaoyi and Liang Qichao left Prince Qing's Mansion, while Zhang Tinglan leaned on the sofa without saying a word.
The captain of the guard, Shen Hua, thought Zhang Tinglan was asleep, so he came over with a wolf skin mattress and was about to cover Zhang Tinglan when he realized that he was not sleeping at all. His two bloodshot eyes were staring blankly at the ceiling.
.
"Vice President? Marshal? Young Master? Don't scare me!"
"What's the ghost's name? I'm not dead yet." Zhang Tinglan said angrily, "Why don't you just be quiet for a while?"
"You can do whatever you want, just don't scare the little ones. Madam has given me strict orders. If I can't take good care of you, my head will be moved!" Shen Hua said with a smile: "If anything happens, it won't happen in a day."
Solved, I heard that the garden behind this place is quite beautiful. Now is the time when the flowers and plants are luxuriant. I will accompany you to take a walk!"
Zhang Tinglan also nodded, but just as he was about to stand up, Chang Yinhuai hurried over.
"Vice President, something bad has happened. A British police station in Weihaiwei was attacked by a bomb. More than a dozen Indian policemen were killed, and three British police officers were also killed. Another British military training station was also attacked.
The explosion killed and injured five or six people, and the head of the Taikoo Shipping Company, Ge Lin, was also kidnapped. Weihaiwei was suddenly in chaos."
After hearing Chang Yinhuai's report, Zhang Tinglan was not in any hurry, with a smile on his face: "Let's go to the backyard and look at the flowers and plants to change our mood." (To be continued...)