In mid-to-late November, Kaifeng Province is getting colder and colder. The river froze, and the boats became few and far between, and they looked empty.

Han Qi rode on a horse and guided the guard of honor to open the way. Looking at the bustling crowd on the road, the hawkers shuttling back and forth, I sighed in my heart. The battle on Hebei Road began to slowly enter a tense stage, but Kaifeng Mansion didn't notice it at all, it was still normal.

After entering the imperial city, Han Qi went to the political hall to clean up a little, and then went to the capital hall with Zaizhi.

Tian Kuan, Zhang Sheng and Zeng Gongliang were already waiting in the capital hall, and when they saw the deacons coming in, they hurriedly saluted together.

They all sat down, and Tian said: "Hebei Road Shuai Si sent a message, saying that he would prepare for a big battle with the Khitan, and now there are not enough shells. Since the Khitan went south, several iron prisons in the imperial court, in addition to the Baiting prison, the Xiangzhou prison also began to make flowering bullets, day and night. If it is not enough, it must be found otherwise. ”

Wen Yanbo heard this, and couldn't help but be annoyed: "This big battle, just one battle in Quyang, I don't know how much money was spent. If it continues like this, how can the financial resources of the imperial court be able to support it? Shells are still insufficient, do you want the iron supervisors of Laiwu and Xuzhou to also learn to produce shells? Does the Iron Warden have anything else to do? In the spring ploughing of the coming year, all parts of the country need farm tools, and they must not do it. ”

Zhang Sheng said: "Xianggong, war is related to the fortunes of the country, but if there is a way, we must support the front line." ”

Wen Yanbo shook his head again and again: "Up to now, 180 million yuan has been spent on the war, not counting the materials used in the army. If it continues like this, it will only take two or three months, and the cost will exceed 300 million yuan. 300 million yuan, the imperial court can't collect so much money in a year! ”

Zhang Fangping said: "This year's imperial court tax is a total of 230 million yuan. It is not enough for the court not to pay for it, and to use it all to fight. Only the cannonballs, guns and ammunition and other goods produced in the iron prison can be kept in the accounts for the time being, and no cash is given. If you expand the scale, I'm afraid—"

After speaking, he couldn't help but shake his head again and again. In fact, not only the iron supervisor, but also a large number of factories, shops, etc. under the three divisions, all of which are owed on credit, and Zhang Fangping looks at the numbers. How much will it cost to fight this battle? Not to mention, due to the clear walls and all kinds of things, the taxes of Hebei Road next year have basically been completely exempted, and the income of the next year will be reduced.

Due to the rapid development over the years, the previous savings of the Song Dynasty are now not worth mentioning. In the past, when this kind of thing happened, the inner library could often come up with millions of dollars, which could solve a big problem. What is 10 million now? If you take it out, you can't solve the problem.

Zeng Gongliang said: "The Khitan Xing's 800,000 army went south, which is unprecedented. If you want to fight the Khitan, of course, you have to spend money. It is the blessing of the court to be able to spend money to win, how can it be called difficult? ”

Wen Yanbo spread his hands: "But the court really doesn't have so much money, so what can it do?" Tell Captain Du to spend as little as possible. With a little less money ahead, we'll be much more relaxed. Spending hundreds of millions of dollars in a few months, how can the world afford it? ”

Zeng Gongliang shook his head: "Hundreds of thousands of troops, spending money every day is like running water, how can you spend less?" ”

Tian said: "To fight a war on the front line, it is essential to spend money. Moreover, the army is different from before, it uses guns and cannons, and the cost is several times more than before. Before the war starts, we have to spend less money on the front, how can this battle be fought? Xianggong, when it is extraordinary, we must think of some extraordinary means. ”

Wen Yanbo said: "What extraordinary means? This year's taxes in the world have been spent, and there is no savings, so the court really has no money. ”

Han Qi on the side said: "Or, advance the money for the next year?" Money is indispensable for fighting, and it is worth spending more to be able to recover Yanyun. There is really no way, how about we advance the next annual tax first? This battle will not last for a few years. ”

Wen Yanbo said: "Taxes have a fixed amount, how to advance?" ”

Han Qi said: "All the banknotes used now are banknotes, as long as you print more, you will print less next year." Isn't this equivalent to an advance for the next year's expenses? It's not complicated, it's just a matter of ordering someone to print money. ”

Zhang Fangping shook his head again and again: "Xianggong, this matter is not that simple. The imperial court printed money, first according to the copper coins of the imperial court, and printed as many paper money as there were copper coins. Later, the money was really insufficient, prices fell year by year, and the people were inconvenient, so it was decided to print money based on copper coins. To print more money, there must be more copper coins. Otherwise, the money will be printed, which will inevitably lead to a rise in private prices. Prices have gone up, no matter how much money is printed, the things you buy are still the same. Moreover, the imperial court is printed on white paper, and the people will suffer from it. ”

Han Qi said: "As long as the war is not delayed first, even if there is chaos among the people for a while, it is not a big harm." If there is less printing in the next year, the price will naturally come back. ”

Zhang Fangping shook his head: "If you print more now, it's not a matter of printing less next year, but taking back the more printing next year." There are too many things involved, and it is easy to cause confusion, and this matter is definitely not feasible! ”

Tian said: "The battle with the Khitan is a matter of national fortune. Or borrow money from the private sector? In the past two years, there are many rich people in the world, and the homes of rich rivals the country abound in the Central Plains. Borrow some money from them first, give some interest after the war, and pay it back. ”

Wen Yanbo said: "Borrowing from the people, not to mention losing the dignity of the imperial court, it is not easy to borrow." Those rich and noble families only recognize one word of money in their eyes. To make money from the family, everyone is enthusiastic, when it comes to taking money from outside, which family is willing to do it? ”

For a while, everyone did not speak, and the hall was quiet.

After a while, Zeng Gongliang said: "Or, just like printing money, print some bonds and sell them." Write down the interest money, sell it to a rich person, and after one or two years, you can use this bond to recover the principal and interest. If the bond cannot be used as money, it will not be counted as money. Selling to the rich is equivalent to borrowing from them. If the money is rich, won't they buy it? ”

After thinking about it, Zhang Fangping said: "This matter is also feasible. As long as it is explained to the world, after one or two years, this bond will be like a deposit, and it can be exchanged for cash immediately, and it should attract people to buy it. ”

Wen Yanbo said: "If you do this, why print bonds? I don't know how much money there is in the savings bank, so I just borrow from them. The savings house is owned by the imperial court, and it is already borrowed from outside, so it should be lent to the imperial court, what can it be? ”

For a while, everyone was stunned, thinking carefully about the pros and cons. The savings bank collects deposits and issues loans, and is actually an early bank. However, in this era, lending to small private households is too risky, and savings houses do not lend to ordinary people, but only to large factories, shops, and other customers who have assets as collateral. People's private loans are still a profitable area for usury.

After a long time, Zhang Fangping said: "It should be possible to borrow from the savings bank. However, once the money stored in it is too small, it is easy for people to withdraw money, and it is easy to have insufficient deposits, and there will be chaos. It's better to borrow 20 million yuan from the savings bank for the time being, and solve the urgent need now. If the front line still wants to inject a lot of money, it is better to print bonds. Bonds are clearly marked and better controlled. ”

Wen Yanbo thought for a while, and could only nod: "That's it." In this battle, the money spent is too much, which makes people's scalp tingle. It's not like there hasn't been a war before, and where is the money spent like this time. The Hebei Road alone was cleared of the strong walls, and more than 60 million guan were spent, and a large amount of grain was transported. In my opinion, after this battle is over, it will cost 100 million yuan next, so it is better to prepare early. ”

There is a poor way to play, and there is a rich way to play. The current Song Dynasty is the richest place in the world, and it is naturally a rich way to play. As soon as the war starts, the ammunition is like not needing money, just use it. The collection of private forces is mostly for redemption, and rarely for direct requisition. Du Zhongxiao didn't care, if he could solve it with money on the front line, he would spend it. The war had just begun, and more than 200 million yuan had already been spent, leaving the entire imperial court dumbfounded.

The Khitan army came south and crashed headlong into the defense line that the Song Dynasty had piled up with money. The siege of the city could not be broken, and the south was strong and clear, and there was no way to follow at the border. Now the Khitan is in a dilemma, mainly trapped by the money of the Song Dynasty, in their impression, they have not seen it, and the war can be directly piled up with money like this.