Chapter 72 Monetary Reform

Wen Jianmin listened to Lu Chengzhou's suggestion and prepared to do the same, and also asked the students to reverse their impression of themselves.

However, when he was about to tell Xiao Dianrong the so-called news, he found that no one could be found at all.

During this time, students from Haigu colleges and universities were not active in Ningyuan at all.

In desperation, Wen Jianmin had no choice but to go to the French and commercial school.

However, Wen Jianmin did not find Xiao Dianrong in the Law and Business School.

Wen Jianmin was very depressed, so he had to squat outside the Law Business School.

Finally, he was guarded by Xiao Dianrong.

"Student Xiao, I just heard the news that the detective team is preparing to arrest you, and there are some other more active students." Wen Jianmin took out a note with a list on his face and said nervously.

"Really?" Xiao Dianrong took the note, glanced at it, and said "surprised".

The names on this note have all appeared in Ning Yuan.

However, they are only holding meetings, at most commenting on current affairs, and there is no anti-government behavior for the time being.

Even if they were caught, they would only be imprisoned for a few days, and they would eventually be released.

Wen Jianmin's behavior is just to curry favor or remedy.

"Didn't the first bureau catch you last time, and the case was handed over to the detective team. I heard the news and will come to inform you immediately. Wen Jianmin said.

"Thank you, I'll tell my classmates to take shelter right away." Xiao Dianrong held Wen Jianmin's hand and said gratefully.

"It's just a gesture." Wen Jianmin said with a smile.

After Xiao Dianrong left in a hurry, the stone in Wen Jianmin's heart finally fell to the ground.

The list he gave Wen Jianmin basically appeared in Ning Yuan.

In the next few days, Wen Jianmin went to Ningyuan several times, but basically did not see the students.

Wen Jianmin suddenly found that he had given too many lists, and everyone stopped showing up in order to escape the blow.

The students didn't show up, and Wen Jianmin had no way to do it.

He deliberately went to the British Concession again, and Lu Chengzhou had some contact with the students.

After all, Cheng Ruien and Ma Yuzhen are friends from childhood to adulthood.

This made Wen Jianmin feel at ease a little, as long as Lu Chengzhou entered, his task could be completed.

"The students have suddenly become very mysterious these days, and I only get to see them once in a while. Is something wrong? Lu Chengzhou asked.

"Blame me for this, I gave Xiao Dianrong a list a few days ago and lied to him that the Public Security Bureau had an operation." Wen Jianmin said with a sigh.

"No wonder, Brother Wen, I didn't say you, your trick is a bit stinky, it's all Dong Shi's imitation." Lu Chengzhou sighed.

"I regret it too." Wen Jianmin looked remorseful, he just wanted to save his image quickly, but he didn't expect it to be too much.

Lu Chengzhou didn't say much in front of Wen Jianmin, but in the information given to Nozaki, he said what he thought: the student already suspected Wen Jianmin.

After all, Wen Jianmin had no professional training, and he used a pseudonym at the beginning, so that students could not feel his sincerity. Fortunately, the 'railway' was able to get in touch with the students. Nozaki said after meeting with Hiroshi Kawasaki.

"In that case, let Wen Jianmin withdraw." Kawasaki said with a sigh.

However, when Hiroshi Kawasaki told Wen Jianmin to let him withdraw it, Wen Jianmin was in a hurry.

"Kawasaki-sensei, even if the students are suspicious of me, they are not sure that I still have a chance."

"We just need to monitor the students' ideological dynamics, and even if they are anti-Japanese, the Chinese government will intervene." Kawasaki shook his head.

He didn't appreciate Wen Jianmin's ability very much.

The only thing worth affirming is Wen Jianmin's loyalty to Japan.

Lu Chengzhou reported the situation he had mastered to Chen Shiguang through Yang Yushan.

At the same time, he reported to Liu Youjun separately about the contact with Wen Jianmin.

With Yang Yushan as a liaison and ordinary intelligence, Lu Chengzhou no longer needs to report to Liu Youjun.

After Chen Shiguang received Lu Chengzhou's report, he would let Liu Youjun sort out the relevant situation.

However, today Lu Chengzhou suddenly received a secret message from Liu Youjun, asking to meet with him.

"The country is going to carry out currency reform, and you have to find a way to collect the reaction of all parties in Japan." Liu Youjun said solemnly.

This task is not easy to convey through Chen Shiguang, and can only be arranged by him personally.

"Currency reform?" Lu Chengzhou said in surprise.

"Yes, now there are a lot of national currencies, the price of silver is rising all the way in the world, and the price of imported goods from abroad is very cheap, which is a heavy blow to our industry and agriculture. If we do not reform, our economic system will collapse. Liu Youjun said worriedly.

The high price of silver in the world market has dealt a heavy blow to China, which is on the silver standard.

Since the price of silver in the international market is much higher than the price of domestic silver dollars, foreign banks in China have purchased silver dollars in China and shipped them to New York and London for arbitrage, resulting in a large outflow of Chinese silver.

Originally, since 1926, China's inflow of silver has been greater than the outflow, and the money supply is abundant.

Beginning in 1932, there was an outflow of silver from China.

In 1934, under the influence of the U.S. silver policy, the outflow of Chinese currency was as high as 227 million silver dollars.

In the second half of 1934 alone, by the beginning of 1935, the circulation of Chinese silver dollars in Shanghai decreased by 230 million yuan.

All but a small part went to the mainland, and the rest were shipped to London or the United States.

"Foreign goods are cheaper than domestic goods, which is a good thing for the people, right?" Lu Chengzhou has little research on economics, and his specialty is that of an agent.

Lu Chengzhou feels that as long as it is a good thing for the people to get benefits, it is a good thing.

"The reason why imported goods are cheap now is because the price of silver has risen internationally, so they exchange goods for silver dollars. One day, there will be no silver dollars in our country, so what will we use to buy goods? You may not have noticed that at present, many domestic factories and enterprises have closed down. Liu Youjun said.

He actually doesn't know much about it, but he is in a different position, and he has more information than Lu Chengzhou.

Faced with a tidal outflow of silver, the Nationalist Government imposed a silver export tariff and a balancing tax on October 15, 1934 to reduce silver exports.

On October 16, the Foreign Exchange Flat Market Committee was set up to intervene in the foreign exchange market when necessary to stabilize the price level of the foreign exchange market.

According to the market situation, the committee entrusted the central bank to buy and sell foreign exchange and gold and silver, and the flat market fund came from the silver balance tax levied by the government and the Ministry of Finance.

However, these measures did not fundamentally solve the problem of silver outflow from China, but instead contributed to the prevalence of silver smuggling.

In particular, in order to crack down on the financial policies of the Nationalist Government, the Japanese government deliberately smuggled silver in the occupied areas, and as a result, the amount of silver dollar smuggled in 1935 was as high as 150 million to 230 million yuan.

Smuggling, which seems to provide people with low-priced goods for a while, is fatal to China's economy in the long run.

"I really didn't think about it that way before." Lu Chengzhou seemed to understand a little.

"I have a statistic here, in 1934, there were 510 industrial and commercial enterprises that closed down in Shanghai. After this year, the number of companies that have failed has reached a terrifying 1,065. If this continues, in a few years, will there still be industrial and commercial enterprises in our country? Liu Youjun sighed and said.

"In other words, monetary reform is imperative." Lu Chengzhou was taken aback by this data.