Zhang Zuolin happily agreed, and Zhang Hanqing's words went to his heart. If he can really do this, he will not only hold the military and political power of Fengtian, but also have a tough capital in the economy, and will be the justifiable "King of Fengtian". He nodded and said, "That's a good idea." This time, we will make the 'Fengtian Peasant Fund Credit Cooperative' bigger, and as for the candidate for the director of the Financial Department, let Haiquan concurrently serve as the director. ”

Haiquan is Liu Shangqing, because he and Zhang Zuolin were in the same boat during the financial crisis, he had a surprisingly good impression in Zhang Zuolin's heart, and it was natural for Lao Zhang to let him work part-time as a banking regulator. As for injecting all the money into the "Farmers' Fund Credit Cooperative", it is because this is the property of Yu Fengzhi's mother's family. Anyway, it is to support the family, the rotten meat in the small pot is always more fragrant than in the big pot, and Yu Fengzhi's daughter-in-law here is very thoughtful, she likes it very much, and giving her her mother's family some benefits is also giving her a long face, which is a little bit of her father-in-law's heart.

But Zhang Hanqing didn't think so, he hurriedly stopped and said, "It's not appropriate." The newly established 'Fengtian Farmer Capital Credit Cooperative' is also the industry of Feng Zhi's mother's family, and rashly giving it such a big responsibility will make others dissatisfied, but it will weaken the significance of his father's financial reform. I mean it's better to support the other, but to give the credit union a chance to make a name for itself, and make it one of the few big banks in Mukden. In addition, although Uncle Liu is the person who can be used for the director of the Financial Department, the player and the referee cannot be the same person. I suggested that my father's supervisor Zhang Huilin should be a better person, this person is upright, loyal to his father, and he is engaged in the work of supervision, so he is familiar with it. ”

Liu Shangqing is the general office of the official bank of the three eastern provinces, which is similar to the role of the central bank. The Central Bank of China already has natural control over the commercial banks, and it is indeed inappropriate to let him work part-time in the Financial Services Department from the perspective of modern auditing. Zhang Huilin's name is Zhiliang, Zhang Zuolin's personal secretary and the supervising officer of the Military Supervision Department, which can be said to be the henchman of Lao Zhang's henchmen. Zhang Hanqing used him, mainly because he and the Fengtian financial community have always been two parallel lines, and taking up this position at this time is also a good promotion of the financial order.

As for not letting the "Fengtian Peasant Fund Credit Cooperative" come out, it is not that Zhang Hanqing does not want to, but in fact, it is because there are still many places where it can be used in the future Fengtian land reform, and his selfishness is to use it as his own reserve force. If it becomes Zhang Zuolin's economic team, it won't be so comfortable to use by itself, right? His words of "selflessness" made Lao Zhang say yes. For the sake of Lao Tzu, the son is so good, why do you have to give some sweetness in the tide of Fengtian's financial reform, right?

At this time, the Beijing government demanded that the banknotes be withdrawn and give "an explanation" to the holders. As a result, the Fengtian Industrial Bank had to "suspend business for rectification" on October 31, 1916.

Zhang Zuolin took advantage of this good opportunity to take the initiative to respond to the battle, he announced the establishment of the Financial Department, and appointed Zhang Huilin as the director, and the large and small silver accounts in Fengtian will be supervised and regularly audited by this financial department.

At the same time, it was announced that the most important measure would be to merge the Fengtian Industrial Bank and the Bank of the Three Eastern Provinces into the Guanyin of the Three Eastern Provinces, and the benefits of this would be manifold. Originally, these three banks were all joint ventures between the government and business of Fengjiang Province, and they were independent, which was obviously not conducive to the construction of bank credit, and they often crashed in business. From the perspective of fiscal unity, there is also a need for the merger of the three banks. As far as the modern banking system is concerned, it is also required that there is one and only one "central bank" to issue money and dominate monetary credit. In this regard, the merging of the three lines is also theoretically necessary.

At this time, for Fengtian Industrial Bank and the Bank of the Three Eastern Provinces, they also encountered some troubles in terms of operation. Let's start with Fengtian Industrial Bank, which once issued a four-cent bond of 10 million yuan, and needs to pay 400,000 yuan per year for interest alone; The banks of the three eastern provinces were originally scheduled to issue 7.5 million yuan of ocean bonds, but when they reached 4.7 million yuan, they began to depreciate, and the holders of the bonds demanded to be cashed out. This also shows that the credit of these two banks is slightly inferior to that of the official banks of the three eastern provinces, and if they are combined, they can increase their creditworthiness and save 400,000 yuan per year.

So, how do the three lines merge? First of all, the official bank issued 20 million yuan of exchange bonds, and recovered all the 10 million bonds issued by Fengtian Industrial Bank and 7.5 million ocean bonds issued by the banks of the three eastern provinces. At the same time, the property of Fengtian Industrial Bank and the Bank of the Three Eastern Provinces was attributed to the official bank. After the commercial shares of the three banks were acquired by the government, the merged official bank of the three eastern provinces became the "central bank" of the northeast, which was purely official shares.

After full deliberation, on December 30 of this year, the official bank of the three eastern provinces began to issue "one or two exchange coupons", that is, large foreign bills exchanged for 12 jiao small foreign bills per yuan, which were used to recover small foreign bills. And on the same day, Zhang Zuolin ordered the abolition of the "Feng Xiao Yang Ticket" standard and changed it to the "Feng Da Yang Ticket" standard. The "Bong Da Yang Bill" is unified with the nationwide silver dollar currency unit, which is equal to the Japanese positive gold note of 1 yuan, thus preventing money merchants from profiting from the exchange difference. Prior to this, Zhang Zuolin also borrowed 3 million gold bills from the Mukden office of the Bank of North Korea as a reserve. In this way, the financial turmoil in the Northeast of 1916 was finally eased.

Anyway, it is a credit currency, and it is in a monopoly position, so the new "Fengdayang Bill" has become the only currency in Fengtian. Subsequently, the currency issuance of the three eastern provinces was exercised by the official bank, and the issuance quota was negotiated with the Bank of China and the Bank of Communications (under the central government).

At that time, the purchasing power of one yuan was very large, and the annual income of ordinary people was only a dozen oceans. Originally, Fengtian small foreign bills had "big money" of one, two, and five jiao, but there was still a need for smaller auxiliary coins to circulate, and it was imperative to issue small coins.

Due to the confusion of coins during the Republic of China, in addition to national-level banks, there were provincial-level banks in each province, but they mainly issued large amounts of currency, while copper coins were mainly used in small denominations. However, the copper coins in the market are relatively heavy, and the number is limited, and the large denominations are not all affordable, and it is very inconvenient for the public to trade, so it is necessary to issue a small denomination currency with copper dollars as the unit. During this period, many provinces also had copper dollar bureaus that specialized in issuing copper dollars. In later generations, didn't the renminbi also have small coins of one cent, two cents, and five cents, just the same thing.

Zhang Hanqing, Liu Shangqing and other financial and economic committees decided to set up the Fengtian Copper Yuan Bureau, which was hung under the official silver number of the three eastern provinces, and specially issued copper dollars with a denomination of one cent (in pieces) and copper dollar rolls (banknotes). In Mukden, copper dollar tickets are directly linked to the ocean and ocean coupons, and 100 copper yuan coupons are exchanged for one yuan of ocean or ocean coupons.

This small denomination copper dollar was quite popular in the early days and was quickly recognized by the market.