Since China is a silver-standard country, the silver currency cannot be depreciated arbitrarily, so China's foreign exchange price has risen sharply. As soon as June 1934, the United States passed the Silver Act, which dramatically increased the price of silver and purchased large quantities of silver at home and abroad.

It is conceivable that because the international silver price is much higher than the price of silver in China, foreign banks in China have purchased Chinese silver one after another, shipped it to New York and London for sale, and grabbed huge profits from it, so that a large amount of silver has flowed out of China, and the result has been a large-scale run on silver, withdrawals, panic buying, and speculative silver in society.

China is not the world's major silver producer, and the outflow of a large amount of silver has also caused deflation, coupled with the dumping of foreign products, the domestic price level has been low and low, and industrial enterprises have become unprofitable, and a large number of shutdowns and production reductions have even been closed down. As a result, the workers were the most unemployed, the class contradictions intensified, and the social crisis deepened.

In order to stop the outflow of huge amounts of silver, the Nanmin Nationalist Government ordered the imposition of high tariffs on silver exports in October 1934.

In the face of such a crisis, the Nanjing Nationalist Government hoped to implement currency reform with the support of Britain, the United States and other countries to stabilize the country's finances.

Britain has huge investment interests and trade relations in China, and the large outflow of Chinese silver has also affected the security of British trade and investment in China, so the British are the first to support China's currency reform.

However, the Japanese have their own ideas, they do not want China's currency reform to succeed, and for Japan, an economically bankrupt China is in their best interests. Even if China wants to reform its currency, it wants to be able to join the yen system under the leadership of Japan, not the Western-led financial system led by Britain and the United States.

Currency reform is already imperative in China.

At this time, the biggest debate in the central government is who is in charge.

***************************

"Do you need to ask about this?" Su Xianmin said angrily: "Although the British are not a good thing, they at least do not have the heart to kill me; The Japanese are different, they are now building a Manchukuo in Northeast China, and they are going to engage in the joint autonomy of the five provinces in North China, which is clearly dismembering our China, how can such an ambitious wolf be believed? ”

"Yes!" Xiao Linghu also agreed, and said: "If you want me to say, don't even think about it, of course you have to leave the Japanese outside!" As he spoke, he said helplessly: "If you want to talk about this currency reform, why do you have to ask the British or the Japanese to help?" Can't you do it yourself? ”

Feng Xuan let out a wry smile, he still knew a lot about finance, and said, "You think it's that easy? The new currency issued has to be in line with the world exchange rate, and we don't have so much money, so we can only take out loans. Who else can afford to give us a loan, but Britain, the United States and Japan? ”

"It seems that Governor Yan is pro-British?" Su Xianmin asked.

Xiao Linghu nodded and said: "In the Ministry of Finance and the four major banks, pro-British people account for the majority, such as Minister of Finance Kong Xiangxi and Bank of China Chairman Song Ziwen all belong to this faction. In addition to Vice Minister of Finance Wu Yuqing, there are also presidents of two other banks on the pro-Japanese faction. ”

"Don't they know the ambitions of the Japanese? Still going to get closer to the Japanese? Su Xianmin frowned.

Xiao Linghu said: "The plan of the pro-Japanese faction also has a certain amount of truth, they say that if the yen is the dominant factor, it can take the lead in promoting the financial unification of the whole country, whether it is North China or Manchuria, the implementation will definitely be relatively smooth." ”

"What kind of logic is this? Doesn't this make the Japanese defeat China with the yen before they have yet to hit our country? Su Xianmin couldn't help but scold.

"But we're using fiat currency!" Xiao Linghu reminded him: "It's not yen!" ”

"That's self-deception!" Feng Xuan said: "At that time, we can only be pegged to the yen, and we will really become slaves of the yen!" ”

"Yes, the two sides couldn't argue, and in the end, the fight turned into a personal attack!" Xiao Linghu said, of course, these are all said by his uncle Yan Shiji.

Feng Xuan nodded, thinking of something: "No wonder Governor Yan is so sure that the person who assassinated him was either Japanese or Wu Yuqing?" Hehe, whether it is Kong Xiangxi or Song Ziwen, it is not he Wu Vice Commander who provoked it, even if the Japanese assassinate them, they should also think about it, but your uncle Yan Xingchang is far less powerful than Kong Song, and if he kills, he will kill him, just enough to make an example of him, so that those who oppose the yen will not dare to talk more! ”

Su Xianmin and Xiao Linghu nodded together, Xiao Linghu had already listened to his father Xiao Huang's analysis.

Su Xianmin said: "Ling Hu, you want to assassinate Wu Yuqing to avenge your uncle, right?" Hehe, if the person who plotted to assassinate your uncle was not Wu Yuqing, but someone else, or maybe the Japanese did it, and it had nothing to do with Wu Yuqing, aren't you indiscriminately killing innocents? ”

Xiao Linghu said: "Even if it is not Wu Yuqing who assassinated my uncle, he deserves to die, he is a traitor who betrays the country and seeks glory!" ”

"Oh? What do you mean by that? Feng Xuan and Su Xianmin asked at the same time.

Xiao Linghu said: "This matter is very secret, because the eight characters have not yet been skimmed, so when their high-ranking officials are arguing, no one dares to poke this matter out!" ”

"What the hell is going on?"

Xiao Linghu said: "The British also hope that China's currency reform will be carried out earlier, and they do not want to have conflicts with Japan, so they came up with a compromise plan, that is, to lend to us together with the Japanese." ”

Feng Xuan thought for a moment and said, "This is also a very normal consideration, isn't it?" Nothing wrong, right? ”

"Listen to me!" Xiao Linghu continued: "Wu Yuqing was ordered to contact the Japanese, do you know what the conditions offered by the Japanese are? ”

"What is it?"

"I want China to officially recognize the puppet Manchukuo!"

"Huh?" Su Xianmin couldn't help but get angry.

Feng Xuan was not as excited as Su Xianmin and Xiao Linghu, he could only let out a wry smile: "Actually, whether we admit it or not, Manchukuo is already there, if it weren't for Zhang Xueliang, if it wasn't for the Northeast Army not firing a shot to withdraw from the Northeast, how could they become a trend?" It's no wonder to others, if you want to blame, you can only blame Zhang Zuolin's playboy! ”

Xiao Linghu and Su Xingmin looked at each other, but thinking about it, Feng Xuan was also the truth. Whether you take it or not, it's already there.

"Is it any wonder that we didn't ask for anything?" Feng Xuan asked.

"Of course I did!" Xiao Linghu said: "We also mentioned four points. ”

"Which four?"

Important notice of this site: Please use the free APP of this site, no ads, anti-piracy, fast updates, members synchronize the bookshelf, please pay attention to the WeChat public account appxsyd (press and hold for three seconds to copy) Download the free reader!!