Why did you choose to issue bonds in Guangzhou instead of Nanjing, a city twice the size of Guangzhou?

The main reason is that the business atmosphere in Guangzhou is the strongest in China in this era, or it is in line with international standards, the business here is not the most developed in China, but it is the most active, and it is dissolved from foreigners all the year round, and many businessmen are aware of some Western commercial bonds.

For example, Pan Zhencheng directly accepted a bill of exchange from London, which is estimated to be unacceptable in Nanjing.

Another reason is that Zhou Lang's establishment of the Bank of Goods and Money, which was established in accordance with the standards of the central bank and presided over by Wu Bingjian, has indirectly controlled the financial institutions in Guangzhou. With these financial institutions, it is possible to sell bonds.

The most important thing is those money banks, although the scale is compared with pawnshops and silver numbers, the money banks may be the smallest, and the business is mainly silver money exchange, opening the door to do business, and receiving some small people. However, the number of money banks is the largest among the three financial structures, and they are all over the streets and alleys.

Because in the past, the common people used to make money, but the government collected taxes but collected silver, and the common people needed to exchange the money for silver when they paid taxes. This has created a general market that supports a large number of money estates.

Because Zhou Lang printed the paper money of the copper coin standard, coupled with the regulation of the exchange ratio of silver money, the payment of taxes was not limited to silver, resulting in the money bank is no longer necessary, and finally the introduction of paper money gave them a chance to continue. They can earn a fixed income of three cents on the exchange of silver coins and banknotes, and the vast majority of money banks now rely on this business to support them.

Therefore, the money bank is extremely dependent on the bank, and every family is desperately trying to sell paper money to customers.

Since each exchange is paid to the money bank three points of profit, and the public bank currently provides a large number of loans to the money bank and pawn shops only one cent of interest rate, which seems to be a loss of two points, but in fact, in the promotion of this banknote, the bank did not suffer a loss.

Because after all, the exchange of silver paper is a minority, but because of this, paper money has been promoted, making paper money a currency linked to gold, silver and copper coins, and the loans issued by the silver money public bank are also mainly paper money. What was collected was real money and silver, so the reserve of tens of millions of taels of silver that Zhou Lang deposited in the public bank not only did not decrease, but now it has become bigger and bigger to 20 million taels, and on the basis of the thickening of the reserves, 40 million taels of banknotes have been loaned.

The interest of 40 million taels is more than 10 million taels of three-point profit, and the interest is continuous, but the profit given to the money bank is a fixed transaction, which is equivalent to the public bank only paying three points of interest, and then permanently taking possession of these reserves, which is quite cost-effective.

As for the loan of 40 million, this is also a number, which is equivalent to the amount of silver that has been lost in Guangzhou in recent years, and it can be regarded as filling the shortage of silver in the Guangzhou market. Of course, as this money rolls back and forth in the financial market, it will slowly create more capital, after all, the pawnshop that borrows money from the public bank is also in the money lending business, and in the middle of the circulation, the financial institution creates new money.

The Dutch helped a lot, as the first country in Europe to start playing the modern financial industry, the Dutch have been in decline over the years, and the Dutch East India Company has been completely defeated in the world's commercial competition, but the foundation is there.

At the height of the Dutch, there were 15,000 of the world's 20,000 ships in the world. At this time, the population of the Dutch was only more than a million, which is why during the Third Anglo-Dutch War, the French captured the Netherlands proper, the Dutch blew up the dam, the whole country was submerged, but the Dutch were fine, their ships were enough to carry all the people.

Until the War of the Spanish Succession (1701-1714), the Dutch were still the most powerful country in Europe, and in this war against France in Europe, the Netherlands provided 140,000 troops alone, the most of any country, of course, these soldiers were mainly mercenaries, and other countries were also mercenaries.

The reason why it went downhill was because of the wars that should not have been involved, and the most recent time, it was the British who directly unloaded the Dutch coachman's wheels. This was something that began in 1780, mainly because of the American Revolutionary War, and the whole of Europe supported the United States because the British were too hateful and Europe had a tradition of huddling together to beat the most powerful countries. The Netherlands also stood on an anti-British stance, but the French were anti-British, the British could not occupy Paris, the Russians were anti-British, the British could not occupy Moscow, and the Dutch were anti-British, but their own colonies suffered.

The British detachment attacked the Dutch colonies everywhere, attacking the colonies of the West Indies, Suriname, Sumatra, Ceylon, and the West African coast, and the British navy blockaded and seized Dutch merchant ships around the world, and finally the British almost destroyed the Dutch navy. After the war, Britain borrowed a huge amount of government bonds from the Dutch for 100 years, but they could also use the war as an excuse to waive interest and buy government bonds from Dutch merchants at low prices after the war. The British are quite authentic, and many other European countries simply directly relied on the debt owed to the Dutch, and this war for the United States in World War II made the Dutch really lose their qualification as a European power.

After that, the Dutch had no ships and no money, and the Dutch East India Company lost nearly 70% of the company's assets, entered the brink of bankruptcy, and no longer had the ability to compete with the British East India Company.

But the Dutch ships are gone, the shipbuilding technicians are still there, the Dutch money is gone, the bankers are still there.

Of course, most of these talents were absorbed by the British, but the Dutch East India Company also controlled some of them, and some of them remained in the Netherlands itself. By working with the Dutch, Zhou Lang's team of Dutch consultants has grown and now has more than 1,000 Dutch consultants working under Zhou Lang.

Of these 1,000 people, there are less than 100 experts in shipbuilding and weapons manufacturing, and most of them are actually involved in business and management.

Through these people, Zhou Lang built a modern customs. In addition, a school has been established to train administrative talents, and a steady stream of suitable business administrators has been trained.

The highest salaries of the Dutch hired were the bankers, who only had about 100 people, but accounted for half of the entire advisory group's expenses.

But the money was well spent, and these people served in the bank, introducing a whole set of risk management methods and deposit and loan management methods of the Bank of Amsterdam. In addition to Wu Bingjian's personal skills, this financial institution has grown rapidly. After the beginning of the issuance of paper money, it also began to issue bonds in full swing, bonds have been popular in Europe for hundreds of years, there is a set of mature management mechanisms and management methods, in terms of marketing, there is Wu Bingjian's commercial ability.

But even so, the first bond was still only sold for a mere 1 million taels of silver, and the name of this bond was to exempt Jiangnan money and grain bonds, telling everyone that the bonds issued were issued in order to exempt Jiangnan from taxes, and the money dealers promoted to their customers, saying that if they bought the fixed face value of the paper, they lent the money to Dashuai, and not only will they repay it in the future, but also have interest, one cent per year.

In fact, the publicity significance of this bond is far greater than the actual significance, and the purpose is to give birth to a commercial mechanism for bond issuance and let the people understand and accept the concept of bonds. At the same time, the political propaganda effect is also very good, so that the people of Fujian and Guangdong, and even the whole world, can see that in order to let the people breathe, this regime would rather borrow money and exempt the Jiangnan region that has just experienced the war from taxes, and even many Jiangnan people have bought a small amount of such bonds.

This second bond, the name is called the Northern Expedition Bond, because the first bond matured, those investors who really bought the bond really recovered the principal and interest, so that the credit of the bond rose all of a sudden, and with the stability of the Zhou Lang regime, everyone's confidence in the bond was even stronger. In the past, I was worried that the government would not be reasonable and would default on its debts, but after seeing that the government would really repay the money and give interest, and with confidence in the regime, more people bought bonds.

At this time, with the help of the Dutch, a bond trading center has been built, located in the thirteen merchant districts, which are now no longer closed, the gates at both ends of the street have been removed, allowing anyone to enter and exit freely, and bridges have been built to connect the sand with the land, and in just a few years, it has developed into the most prosperous commodity trading center in Guangzhou.

The bonds of the Northern Expedition will be able to be listed and traded on the newly established three-storey bond exchange, and the bonds can not only be held, but also can be realized at any time, becoming more liquid, which is the best investment method for businessmen who have cash in hand for the time being and will not move in the short term.

Even a large number of foreigners were willing to purchase bonds of the Northern Expedition, firstly because they were more optimistic about the Zhou Lang regime, and secondly, because due to the outbreak of war, many foreigners interrupted their business, and they feared that the goods purchased from Guangzhou would be plundered by imperial ships, so they deposited their silver in Guangzhou and left empty, or stayed in Guangzhou to wait for trade to resume.

These people have a lot of cash in their hands, and they used to lend directly to their business partners, but now that the interest rate in Guangzhou is very low, it is not as cost-effective as buying bonds.

As a result, the sale of the Northern Expedition bonds was a great success, and 10 million taels of bonds were sold. Of course, in order to achieve this achievement, Wu Bingjian, when the Dutch consultant confirmed that the reserves of the public bank were absolutely sufficient, announced that the bonds held could be directly pledged in the public bank, or even discounted, or discounted.

With the help of public banks, buying bonds has become a sure-fire business, and businessmen have bought bonds one after another. In particular, the financial industry itself is an industry that reserves a certain amount of cash at all times, and this kind of cash-ready notes quickly became the best way for them to dispose of idle funds.

With this relatively complete modern debt market, the Zhou Lang regime's ability to obtain resources through commercial means was greatly enhanced, and compared with the Manchu Qing Dynasty, which relied on agricultural models to obtain resources, it was already victorious outside the battlefield.

Finally, in the early spring of the sixth year of Jiaqing, Zhou Lang announced the start of the Northern Expedition, and a battle for reunification began, the winner would gain the whole world, and the loser would withdraw from the stage of history.