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Volume 2 Beijing Story Chapter 125 Bank of China¡¯s Abacus

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    Update time: 2012-07-31

    Wang Geng said that he would walk between the support of the great powers and walk the path of wall-riding opportunism like a tightrope. He even gritted his teeth and said that sooner or later, China would have to fight with the old Maozi and the little devils. This decisive and domineering attitude infected Zhang Jia'ao and Song Hanzhang.  The two of them looked at each other. It was obvious that no matter whether Wang Geng was talking big words or he was really capable, at least at this moment they both understood that this guy's eloquence and the appeal of his words were unstoppable.

    Seeing that the three people nodded, Wang Geng raised his fingers and said,

    "I won't go into details about the benefits of participating in the war. Since you are representatives of Jiangsu and Zhejiang Capital, you understand that the European War is the best opportunity for China's rise. The great powers will bite each other and both sides will lose. Britain, France, Russia, Germany and Austria are inevitable.  will be weakened. If China does not seize the opportunity, only the United States and Japan will rise after the war!"

    "The little devil's wolfish ambitions towards mainland China cannot be relied on in the future through international mediation. Only if we unify and become stronger as soon as possible can we defend our country and drive the invaders out of China. I, Wang Geng, may be a capitalist in the future, too.  He may be a warlord, and even have three wives and four concubines, but there is one thing, that is, he will never be a traitor! This is my bottom line, and I hope it is the bottom line for all Chinese people. Do you have any questions? "

    Lu Ding, Song Hanzhang and Zhang Jiayao looked at each other and shook their heads, which meant that they had no doubts. Then they nodded fiercely, which meant that they would never be traitors. Who dares to hesitate in such a direct statement?

    Wang Geng saw this and smiled to himself, Damn, let me put the big hat on you first. Anyway, in ancient times, the only way to save the country was through curves. Which traitor in the past was willing to admit that he was a traitor?

    "Lao Lu, who is in the Ministry of Finance, naturally knows that in the years of the Republic of China, the central government's fiscal balance was only one or two years after the second revolution when President Yuan Da was in power. The rest of the time, warlords fought and separatized each other all the time.  Unable to make ends meet, the governors from all over the country are desperately trying to expand their armies. They are seriously in arrears with wages and salaries, and they only rely on borrowings from the great powers to make ends meet. But is this so?" Wang Geng looked at the three of them and said.

    "Indeed, that's why the cabinet acted haphazardly, letting the Bank of China and the Bank of Communications print banknotes indiscriminately, causing inflation. When the banknotes were devalued to the point where they could no longer be devalued, they actually took advantage of the situation and stopped cashing out, causing a wave of bank runs. If it weren't for Han Zhang and Gongquan  If we block this evil trend in Shanghai, the credibility of Bank of China will be ruined!" said the Director of the Taxation Department of the Ministry of Finance with deep feeling.

    Song Hanzhang and Zhang Jiayao looked at each other. Last year, the two of them worked together to avoid a run on the Bank of China in Shanghai. This incident made the two of them very popular. The press hailed the two as warriors who would not succumb to the Beiyang government!  At this moment, Lu Ding brought up old things again and praised him like this, and the two of them couldn't help but feel a little proud.

    "The United States has strong industrial strength and a good economic foundation, but it only has a standing army of 200,000. This means that the central government's military expenditures and burdens are naturally light. In China, four-fifths of our annual revenue and borrowings are used to supervise and expand the military in various places.  If this fragmented situation continues, the national finances will never make ends meet, so unification and a strong military are the only way to go."

    ¡°The Army currently has nearly one million people in the official establishment of the Ministry of War. The country is poorer than the United States and Japan. The standing army is four to five times larger than other countries. The industrial base is so weak. Coupled with the heavy pressure of the Boxer Indemnity,  If this situation continues, China will never get ahead, so reunification is the only way out! "What do you think?" Wang Geng looked at the crowd.

    "Wang Geng is right, unification is necessary, just like when we run a bank, we want to pool idle social funds and use them on projects that are most needed by the country and society!" Zhang Jiayao shouted, waving his fist.

    "The European War was not about the number of troops, but the military-industrial base and economic strength. Compared with the European powers, Asia, including Japan, was still in its infancy. Although Russia was lagging behind, it had strong mobilization capabilities and suffered more than 100 casualties in one battle.  Without batting an eyelid, little Japan will be destroyed if it suffers more than one million casualties in a war. As for China, the last time more than one million troops went into battle together, I don¡¯t know which dynasty or generation it was!¡±

    Lu Ding, Song Hanzhang and Zhang Jia'ao looked at each other. Obviously Wang Geng was talking about the reality that Chinese people have always been unwilling to face. Although China is big, it is really a giant with feet of clay. It is weak and in urgent need of revitalization!

    ¡°In order to develop the economy rapidly, industrialization is the only way to go, and the finance and banking industries are the best catalysts and lubricants for industrialization. I won¡¯t say much else. It only takes five, ten, or twenty years to establish a complete industrial system.  It is almost impossible, but it is expected to establish a preliminary industrial system that serves unity. The consumption of the European War will cause a serious shortage of productivity in European and American countries. This is the basis for our preliminary industrialization! "

    Wang Geng stood up and walked a few steps, and said with a smile, "I am not an economic expert or a financial expert. These things will be issues that you people in finance and industry will have to think about in the future. Let's go back to it first.Now, the Ministry of Finance and the Ministry of Transport have always been the most lucrative departments of the central government!  "

    Lu Ding blushed when he heard this and hurriedly defended himself, "The Ministry of Finance is just an empty post and has always been unable to make ends meet, but the Ministry of Transportation is really rich."

    Song Hanzhang laughed and said, "Old Lu, why are you so anxious? Your future son-in-law has a sharp eye and will not wrong the Ministry of Finance."

    "What you said before is correct. The Ministry of Communications and the Bank of Communications are considered to be Xu Shuzheng's family, and they are the backbone of the Anhui Clique. It is not appropriate for us to reach out when we first come here. I know the original intention of the princes to find me, Wang Geng.  Now that we have established the Financial Revitalization Salon, we are like-minded comrades who want to work together to contribute to the country. Although the Ministry of Finance is a hard job, we still have to find a way to make Lao Lu improve!" Wang Geng said lightly.

    "That's right! Chen Jintao drove away the deputy minister Yin Ruli on the pretext of corruption and bribery. For the position of deputy finance minister, Wang Geng, you have to make plans for your future father-in-law!" Song Hanzhang said anxiously.

    "I don't think it's difficult to do this. Lao Lu is a meticulous person, and Lu Mei and the second lady of the Duan Mansion are best friends. This gives them more reasons to go to the Duan Mansion. Although Chen Jintao is using Xu Shiying's relationship  I want to join Prime Minister Duan, but I think he may not be able to secure the position of Finance Minister. If I find an opportunity, I will blow some wind in the Prime Minister's ears and let Lao Lu secure the position of Deputy Finance Minister first, and wait for Chen Jintao -  After resigning, it will not be difficult to become an agent, let alone a general manager!¡±

    Wang Geng¡¯s words obviously made the three people¡¯s eyes light up. Lu Ding naturally smiled, and Zhang Jiayao murmured in his heart, I want to see how powerful you are.

    "It's what Lao Song and Fourth Brother Zhang said about the Bank of China's restructuring into a private enterprise. I have no idea about this matter. How about you guys tell me about it?" Wang Geng took out a cigar. Zhang Jia'ao, with quick eyesight, stroked it.  He took the match and handed it over. The two of them took advantage of the opportunity of lighting cigarettes to look at each other at close range, and they both secretly praised him for being handsome!

    "The Bank of China is now a joint venture between the government and businessmen, but the government is too eager to raise funds and withdraw funds. The bank cannot make ends meet and has become a bottomless cash machine for the government's finances. Last year's bank run was caused by the random printing of banknotes. The Chinese people are used to banknotes and  For hard currencies like silver dollars, you need to have corresponding silver reserves and promise to exchange them for silver dollars at any time when issuing silver dollar certificates. Otherwise, who would dare to use your banknotes!"

    "Now, because of the nature of a government-business joint venture, the Bank of China cannot operate independently and is blindly directed by the government all day long. If it continues like this, it will fail to make ends meet sooner or later. Therefore, we want to increase capital and shareholdings to transform Bank of China into a commercial bank with private shares and use marketization.  way to operate and get rid of the government's control and blind instructions!" Song Hanzhang said his plan without any concealment.

    "Lao Song, the Bank of China and the Bank of Communications actually have the functions of national banks that issue banknotes and manage the national treasury. This is equivalent to being granted the government's monopoly right to issue banknotes. Without the policy support of the central government, I am afraid that relying on pure  The operation of commercial banks may not be feasible in China. Have you considered this issue?" Wang Geng pointed out the problem pointedly.

    Song Hanzhang's old face turned red. Wang Geng's words obviously touched on this guy's pain. Bank of China and Bank of Communications are jointly listed as the two pillar banks of the government. They have the privilege of acting as an agent for the treasury and issuing currency that other commercial banks do not have. If you really want to be single-minded  If you operate a private bank, the government will take back the privilege of issuing banknotes and acting as a treasury agent to other banks in the future. Can you bear the risk?

    "Supervisor Wang, although what you said is right, the government's finances are so far beyond its means that the income from the acting treasury and banknote-issuing power has become a burden. Even if it is taken back by private companies in the future, it will not be a big deal. We will just  Let¡¯s set up a commercial bank with purely market-oriented operations!¡± Zhang Jiayao said a little unconvinced.

    "This is wrong!" Lu Ding and Song Hanzhang objected in unison.

    Damn, how important is the right to mint money? How can we give it up so easily? Don¡¯t look at the fact that the Bank of China is now responsible for 70% of the government¡¯s treasury. Because the treasury cannot make ends meet and is too poor, you think it is a burden and a drag on the national economy in the future.  When it develops, how much monopoly welfare and income will it bring?

    "The fourth young master of the Zhang family is young and energetic and doesn't think far enough!"  Wang Geng muttered in his heart.
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