As soon as the meeting was over, Ferdinand summoned the big manager and asked, "Karl, how much money does the Royal Bank have at its disposal now?" ”

Karl Palace thought for a moment and said: "Without affecting the normal operation of the bank, we can raise up to 38 million leva!" ”

Hearing this number, Ferdinand's face sank, and he continued to ask, "What about Union Bank?" ”

Karl Palace Xiang thought about it for a moment and said: "The situation over there is slightly better, their business is mainly for domestic capitalists, usually it is a bill of exchange transaction, and the funds that can be used are about 50 million leva!" ”

Ferdinand nodded, this number is not bad, Bulgaria's economy is so large, it is already very good to have this number!

Ferdinand now misses the era of the credit standard, the government has no money to print bills to solve the problem, the big deal is inflation, just control a quantity!

In terms of the current economic size of Bulgaria, it is a lack of currency, and it is really not a problem to print another one or two hundred million, but it is a pity that Bulgaria lacks gold reserves!

"In the future, the Bulgarian government may face a funding gap of more than 500 million leva, and the Royal Bank and the Union Bank can form a consortium to provide them with loans, and if possible, pull the Bulgarian National Bank together!"

Karl hesitated before he spoke: "Grand Duke, there are too few levs in circulation in Bulgaria now, and they have begun to hinder the development of the economy.

From 1887 to the present, Bulgaria's economy has almost tripled, but our monetary volume has increased only 1.7 times!

And the Bulgarian National Bank has limited gold reserves and cannot afford to issue so much money, so in addition to the lev, we have circulation in the country, rubles, francs, pounds, and marks! ”

Karl's words suddenly woke up Ferdinand, patronizing the development of the economy, but ignoring the amount of money in circulation, and a large amount of profits were made by the Great Powers in vain!

Having figured this out, Ferdinand decided to change the current pattern of currency issuance in Bulgaria! The moment asks: "How much gold reserves are in the Royal Bank and Union Bank?" ”

Karl thought for a while and said: "At present, the gold reserves of the Royal Bank are about 7.43 tons of gold, and in addition to the acquisition of some in the market, it is mainly the gold mined by the gold mining enterprises under the Royal Bank, which is directly deposited in the bank and not sold!"

Union Bank's gold reserves are much smaller, only 1.32 tons, which are used for daily exchange! ”

Ferdinand thought for a moment and said: "Reserve more gold, find a suitable opportunity, and the two banks will apply to the Bulgarian Ministry of Finance together for the right to discover money!"

I intend to set up a separate body to be responsible for the issuance of lev, and the current national bank can no longer afford to issue currency! ”

Karl thought for a moment and said, "Grand Duke, since this is the case, can we not sell the share of the gold produced by the United Mining Company?" ”

Ferdinand nodded, after he and Edward worked together to create the United Mining Company, he had encircled a lot of land, and the gold mines that had been mined one after another over the years were already an astronomical amount!

If you look closely, you will see that the United Mining Company has become one of the largest gold mining companies in the world, and is able to provide Ferdinand with huge profits of hundreds of thousands of pounds every year!

……

Sensing the currency crisis, Ferdinand immediately convened a cabinet meeting, and now fortunately, the gap in the market was filled by borrowed funds from the Great Powers.

But immediately the trouble is big, the territory has nearly tripled, should we continue to circulate the currencies of other countries?

When the time comes, it will be embarrassing to find that the mainstream currencies in Bulgaria are the pound sterling and the franc, which will be funny!

If it really happened, the Bulgarian government would not only lose face, but more importantly, a large amount of economic benefits would be seized by the foreign powers through the issuance of currency!

Chancellor of the Exchequer Kennedy said with a wry smile: "Grand Duke, the problem of currency is not only plaguing us, but even the Germans and Americans have had a headache about this problem!"

In the Civil War decades ago, when the U.S. government owed Britain and France a large amount of loans, and the country lacked sufficient gold reserves to issue enough currency, it had to rely on the British, and the British once controlled the U.S. economy through loans!

Later, the Americans discovered a large number of gold mines in the country, and only then did they get enough gold to issue currency.

Especially after the discovery of Arisgar's gold, with enough gold to issue currency, the economy of the Americans has achieved rapid development, and now their total economic volume has exceeded that of the United Kingdom!

Of course, this data is still false, but with the speed of economic development of the United States, it is destined to surpass the United Kingdom in the near future! ”

Ferdinand was stunned, there was still this kind of operation!

Americans have even been plagued by the lack of gold!

Not to mention Germany, which is still short of gold reserves, it is no wonder that Wilhelm II would fight against the British for the sake of the Boer problem!

In recent years, German industrial and commercial products have flooded the two Boer republics, and dozens of tons of gold have flowed into Germany from South Africa every year.

At this moment, when the British beat the Boers, weren't they moving Wilhelm II's cheese? Ferdinand remembered that historically, the British seemed to have bought the Germans at great cost, but then defaulted!

This is equivalent to only paying a deposit, taking away the goods, and the latter part directly announced that the debt was repaid, and the owner of the goods of course did not agree!

It's no wonder that Wilhelm II wants to build a big navy, ordinary people can't bear to meet someone who is paying their debts, let alone Germany! As soon as the Great Navy plan came out, the contradictions between Britain and Germany could no longer be resolved!

"So the Ministry of Finance, what is the solution?" Ferdinand asked

Kennedy said with some embarrassment: "The problem of lack of gold reserves cannot be solved in a moment.

We can buy some from the market, but it's still hard to solve the problem with that!

However, the Balkans have always been one of the world's most important gold producers, with a history of gold mining for thousands of years, and the production of gold mines in the new territories should gradually meet our needs! ”

Ferdinand shook his head and said, "It's not that simple, except for these gold mines that were secretly mined by the nobles, most of the other capital sultans were mortgaged to the foreign powers!"

At that time, we will only have a gold mining tax at most, and if we want to recover it directly, we will not dream! And in terms of time, it's too late!

By the way, how did your Ministry of Finance solve the gold that has issued currency in recent years? ”

Chancellor of the Exchequer Kennedy said with a bitter face: "We really can't do anything about this, most of the gold that was issued before the increase in currency was the gold products obtained by the family, and we directly smelted it and used it as a reserve to issue currency!"

In the current situation, we can only rely on the great powers to issue currencies by pegging to the pound sterling or the franc! ”

Ferdinand thought for a while and said, "You have to continue to think of a way to solve this problem!" Once the Lev is really pegged to the pound or the franc, our economy will have to be watched! ”

After hesitating again and again, Ferdinand still did not propose that the three major domestic banks jointly issue currency, which is easy to cause criticism from future generations!