On April 10, the only channel for the issuance of war bonds was the Imperial Bank, but on the first day of issuance, the number of people who actually went to buy the bonds was not large, but mainly government agencies. Pen ~ fun ~ pavilion www.biquge.info

They buy bonds with a large amount of government funds and use them as salaries or other funds, which is the first step for the implementation of bonds, and many businessmen go to the bank to buy bonds, and the number of bonds purchased by these businessmen is not much, or rather, they buy them for the task.

In all dynasties, no matter how much the top stops, but below, some things can never be completely eliminated. Even many local governments found those businessmen and asked them to buy a batch of war bonds, and in order to avoid greater trouble, those businessmen also summed up their own strength, and after leaving the necessary development funds for the factory, they also used the excess funds to buy a batch of war bonds.

In fact, this situation can be predicted in advance, but it cannot be stopped, because in some sense, the purchase of war bonds is actually a way of investment, but for businessmen, the cycle of investing in war bonds is somewhat long, the same money, the same cycle, if the funds are used for business expansion, the final benefits are far from being comparable to the interest on the bonds.

And some shrewd businessmen don't think like those who only think about their own interests, and the behavior of these people is, at least from the outside, a little too terrifying.

These people directly purchased all the funds of the factory into bonds, and decided that in the future, all the funds of the factory will be replaced by bonds, and priority is given to accepting the settlement by bonds.

And the period chosen by these people is also the longest ten-year period, and there is no doubt that the favorite of local governments is this kind of cooperative businessmen, so these businessmen will be more or less taken care of in their future undertakings, and frankly, buying war bonds now is like some enterprises in the 21st century competing to play football, even if they lose some, it doesn't matter, they value some political connections.

The people's reactions to this matter are different, some approve, some disapprove, and some are wait-and-see. But there is no doubt that with the entry of the government and factories, more and more war bonds will flow into the market, and when the people find out that war bonds can really be used as currency, then they will also understand this truth, even if they do not use them, they can use these bonds to invest.

In addition, the banking industry has opened a bond deposit and withdrawal business, and after purchasing bonds, you can also deposit them directly in the bank, so you don't have to worry about being stolen or whatever, which is very convenient.

Although the current banking industry is not developed, it is far less convenient than the one card in the world in later generations, but for the people who have never experienced this kind of life, they are still happy to accept the free 'dart game' of the bank. There is no need to think about electronic office, and it is impossible to achieve it at the current level.

Therefore, the Imperial Bank adopts the operation mode of special person and special fold, that is, to issue a passbook for deposits, the bank will file according to the number, and each operation, it is necessary to carry out the remarks synchronization operation on the passbook and the bottom case, and the depositor wants to deposit or withdraw money, he must bring the identity certificate issued by the government and the passbook and himself in person, the identity certificate and my appearance have been filed in the bank, and only all the conditions are on the right to withdraw money.

If the depositor dies or has other accidents, a certificate issued by the local government and a certificate of the relationship between the withdrawer and the depositor can be withdrawn, so as to ensure the safety of the deposit to the greatest extent. Although this mode of operation is a bit troublesome and inefficient, it is more secure than cipher operation and is also in line with the ideology of modern society.

Therefore, the bank has opened a separate business window, which is also invisibly equivalent to giving the people a certain amount of confidence, can the bank have such a large industry, and it is the state, can they pit their money?

On 10 April, 230 million yuan of bonds were sold across the country, of which 190 million yuan were occupied by government agencies, and businessmen and ordinary people only bought 40 million yuan of war bonds.

On 11 April, a total of 200 million yuan of bonds were sold across the country, of which 120 million yuan were occupied by government agencies and the remaining 80 million yuan were occupied by businessmen and ordinary people.

On 12 April, a total of 150 million yuan of bonds were sold across the country, with government agencies accounting for 50 million yuan and businessmen and ordinary people accounting for 100 million yuan.

In fact, in the first two days of the sale, the government agencies have basically bought all the bonds, and on the third day, most of them are subscribed by government agencies in some remote areas, and as time goes by, the share of government agencies is rapidly declining, while the share of businessmen and ordinary people is growing.

A week later, there were almost no government agencies to subscribe for bonds, because they had no money to buy them anymore, and on the 15th, it was the day of the payment of wages, and as the government agencies paid their salaries in the form of war bonds, and some of the agency personnel experimented on the streets, they found that the bonds could indeed be spent, and they gradually relaxed.

Thus, on April 20, 10 days after the sale of war bonds, the war bonds ushered in the first major explosion.

As of April 31, a total of 2.2 billion yuan of bonds had been sold in 11 days, about a quarter of which came from members of institutions with relatively stable incomes, who generally did not invest in any projects, and had no concept of financial management before.

The fundamental reason why they dare to buy bonds with their families is because they have a relatively stable income, and whether the investment is successful or not, their lives will not be affected. In one, they work in government agencies all year round and still have a lot of confidence in the country, so they dare to invest.

On May 1, the Imperial Bank officially announced the suspension of the issuance of war bonds, which totaled 3 billion yuan and lasted 21 days.

As of January 1, 1904, the day of the establishment of the Chinese Empire, the total amount of various currencies in circulation in the Qing Dynasty was about 2 billion taels of silver.

Later, Wang Sirui minted coins year after year through mining and other methods, and increased the total amount of currency in circulation to 2.3 billion taels of silver, that is to say, until the time of the monetary reform in 1908, the total amount of currency in circulation in China was about 2.3 billion taels of silver.

But after the completion of the monetary reform, this figure was confirmed, and the total amount of various currencies in the country was 2.5 billion taels of silver, because the number of new coins in the hands of the central government was four, and the amount exchanged was as much.

At that time, they printed a total of 3 billion new dollars, and then put these goods into the market by increasing the total amount of 100 million yuan a year, and at the same time, in order to avoid overstimulating the market, this money was very hidden, and with the improvement of the economic situation, only 100 million yuan a year could not cause chaos in the market.

However, when the war broke out last year, the empire invested 300 million new dollars, that is to say, the total amount of money in circulation in the country is 3.2 billion yuan, and through this bond issuance, the government has collected 3 billion, and the total amount of money in private circulation is only 200 million.

According to the statistics reported below, the choice of one-year and three-year periods is almost negligible, with 23 percent for the five-year period, 39 percent for the seven-year period, and 38 percent for the 10-year period, and according to the respective interest rates, after five years, the empire will face the repayment of the first batch of 759 million debts, seven years later, 1.404 billion debts, ten years later, 1.482 billion debts, and a total of 3.645 billion in principal and interest after ten years. It can be said that the empire will have its first debt maturity in five years, and now we must adopt a series of policies to avoid the situation of not paying the money by then, so as not to affect the integrity of the imperial government. Yan Weifan, the president of the Imperial Bank, appeared in front of Emperor Wang Sirui with a statistical book, and he was accompanied by Wang Shizhen, the Prime Minister of the Empire, and Song Wen, the Minister of Finance of the Empire.

"The average annual interest is 64.5 million!" Wang Sirui nodded secretly, this interest rate is not high, but it is not low, the total amount of bonds issued this time is indeed a lot, but if you don't issue so much, the next money will not be enough at all.

It is equivalent to Wang Sirui taking out all the money for the next ten years at one time, and the war alone consumed more than 300 million last year, and as more and more troops are put into the battlefield, weapons and equipment are being reformed and replaced, so these 3 billion, if according to Wang Sirui's prediction, can be used for five years, it is considered good.

But five years later, it was the peak period of repayment, so in any case, after five years, the imperial government had to have at least 759 million funds in the hands to pay off the debt.

It is indeed a way to continue to print new currency, but the triggering of currency cannot be too much, and with the development of the economy, it can stabilize at 200 million new currencies every year in the future, but in addition to normal expenses, in fact, there is not much money left.

During this time, Wang Sirui has been thinking about how to repay the money, but he doesn't know much about the economy, and he has never been able to come up with a foolproof solution.

But after thinking about it, Wang Sirui only came up with one possibility, if this trick can work, he will be able to make up the debt in less than five years. (To be continued.) )