Time is like a shuttle, and time is like electricity. In the blink of an eye, eight years of Guangxu have passed, and in the past year, the economy of the Qing Dynasty has made great changes. After the ban on privately run factories was lifted, factories sprung up all over the country. In particular, there are thousands of foreign cloth factories and foreign flour factories.

Previously, Guan Xuqing was also worried that these fledgling national enterprises could not afford to resist the competition of foreign goods, after all, the Qing Dynasty implemented zero tariffs. Even the Department of Excise was held by the British because of the defeat in the Opium War.

Therefore, he asked the provincial governors to implement a series of preferential measures such as tax exemption and land expropriation at cheap prices for these national enterprises. It has to be said that the Chinese nation is the wisest nation in the world, and it is even more invincible in business. In the case that most people in society still reject foreign goods, they put the produced foreign cloth and foreign noodles in those time-honored silk and satin shops to be sold on behalf of them. Got an unexpected effect! It is often sold out as soon as it is produced. Those foreign goods that are better than them will not sell!

Due to the vigorous development of the national industry, the financial revenue of Guangxu in the ninth year reached a terrifying 500 million taels of silver. At that time, the gross domestic product (GDP) is now known as the second largest in the world, behind the UK.

Under the premise of continuous development of education, armaments, industry. The state treasury actually had a surplus, and Guan Xuqing was in a good mood and specially approved Li Zhen's request to allow the trading of the treasury bonds of the Daqing Bank. However, not many of the country's banks are selling government bonds. Rather, there are still many people who come to buy government bonds!

Everything seemed to be going well, but the imperial court was still shrouded in smoke clouds, because the French finally made a move in Annam, and the French expeditionary force occupied Hanoi, Nam Dinh and other places inexorably along the way.

The nerves of the imperial court suddenly tensed, is there another war with foreigners? Many officials in the imperial court had experienced the Second Opium War, and now it was the French who had entered the capital and dared Emperor Xianfeng to run away in Annam.

It's another snowy New Year's Day, and this ancient capital is dressed up with a little vicissitudes and a little horror.

At the British Embassy in the western suburbs, Smith, the British ambassador to China, is slowly sipping a glass of pure Scotch whisky. The best Scotch whisky has smoky, fruity, and dried fruit flavors, and he has this fine black label whisky in his hands.

Sitting across from Smith was Vice Admiral Phillips, commander of the British Far East Pacific Fleet, who had been friends with the ambassador for many years, having studied at the same school when he was in England. This natural sailor is willing to go ashore for the sake of tasting the real whisky.

"Old man, I heard you just came back from Malacca. Communicating with General Toure, commander of the French Far East Army, what do you think of the French war in Vietnam? If the Qing joined the war, do you think the French would win? I'm very interested in that. ”

Philips greedily drank the whiskey in his hand, and couldn't help but admire: "Smith, only you can find such an authentic Scotch whisky here, this time, you have to let me bring a few more bottles." ”

Smith nodded helplessly......

Philips said slowly: "Toure is an old friend of mine, we used to stay in the same boat. The French navy in the Far East is very strong, they have the Grace, and the Carey, Nancy, maybe the Qing got the two gunboats from us can deal with Carey and Nancy, but they are definitely not elegant opponents, unless the few gunboats ordered by China in Germany can return home early, but I don't think the French will let them through the Mediterranean. As for the other wooden boats of the Qing Kingdom, I don't think there is any need to talk about it. ”

"Even if France gains sea supremacy, the land of Vietnam will always be occupied by the army. What do you think of China's army compared to France? You know, China has just sent troops to Chao Xian. After two or three efforts, the Japanese* left the court. ”

"My old fellow, although the French army is not very strong, and there are mostly Vietnamese and Algerians. But what about the army of the Qing State? Can those opium-smoked guys fight? I admit that the Qing army has indeed been equipped with our advanced weapons in the armament in recent years, but their country is too big. Their little emperor, in order to save money. Half of the army was dismantled, and they had to defend against Russia in the north, Japan in the east, and even Xinjiang and Tibet in their own territory from time to time rebelled. The southeast coast has to prevent the landing of the French fleet that has gained sea supremacy, do you think they can hold it? Besides, did they have the guts to declare war on the French? Not long ago, the French had entered their capital with us. ”

Smith smiled, and Philips basically agreed with him. Although France did not invest much in the army, a strong navy could guarantee victory in the war. The Opium War is not the best proof of this!

Inside the Forbidden City, snowflakes are still falling from the sky unscrupulously. It's another winter, and the good news excerpts from various ministries are piled up on several cases in the Heart Cultivation Palace.

Li Zhen was standing in front of Guan Xuqing at this time, and this upright Qing official controlled the household department. Although it can be guaranteed that there will be no embezzlement and misappropriation, Guan Xuqing is unbearable because of the rigidity and immutability.

"Your Majesty, now my Qing treasury is full. However, the people still continued to buy my Qing Dynasty treasury bonds, and in the long run, I paid interest to them on my Qing Dynasty tax money. He also asked the emperor to stop the sale of treasury bonds. Li Zhen said.

Guan Xuqing looked at Li Zhen, Gu Hong's minister who was in charge of the money and grain of the Qing Dynasty. There was a little disappointment in his eyes, Guan Xuqing studied finance in his previous life. I still have a good understanding of the operation of the bank, and I am facing the president of the Daqing Bank who is a complete layman. After all, I couldn't help but scold.

"Li Zhen, I have promoted you exceptionally. Is this how you come to serve me and my country? ”

Li Zhen immediately knelt on the ground, not daring to come out. The mouth hurriedly said: "The slave knows the sin, and the slave knows the sin." ”

Guan Xuqing looked at Li Zhen, who was trembling all over, and his heart softened, and he didn't scold anymore. Picked up Li Zhen with one hand and said: "The French have made trouble in the south, and now there is no unity in the court. If we fight, we will have to spend a lot of money on military expenditures. If you don't fight, you still need a lot of silver to defend the French. The economy of the southeast has just picked up, and Western education has just started. Where don't you need money? ”

"They are all incompetent minions and can't share the emperor's worries." Li Zhen said with a sad face.

Guan Xuqing said to Li Zhen: "Well, what you said also makes sense. In this way, the treasury bonds will be sold in a certain amount, and if no one sells them, they cannot be bought again. That's it, if it's gone, it's gone, and the court doesn't bully the people. It cannot be said that there is no tomorrow today, and the national debt must be retained, but it cannot be issued indiscriminately indiscriminately. Second, the Daqing Bank established four divisions: savings, credit, agricultural administration, and industry and commerce. Savings is responsible for absorbing private funds, and the annual interest rate is set at 0.5 cents. 10,000 taels of silver is paid with 500 taels of interest a year, and the credit department is mainly responsible for providing small personal loans. The Department of Agriculture provides large loans for the development of agriculture, and does not let the land go barren, but uses the people's money to reclaim the wasteland, and the development of agriculture is also for the benefit of the people. The Department of Industry and Commerce is responsible for large industrial and commercial loans and supports some local enterprises in the Qing Dynasty. The reserve ratio of Daqing Bank is set at 10 percent. ”

Li Zhen was stunned when he heard this, and he didn't understand many things. He asked embarrassedly: "Your Majesty, please redeem the stupidity of the slaves, what is the reserve ratio?" What are the criteria for various types of loans? If I don't, what should I do? ”

"If I say that I have 100 million taels of deposits in various places this year, then I will leave 10 percent of the reserves, which is 10 million taels. Always be ready for the people to extract. The remaining 90 million taels can be given out as a loan. All loan approvals need to be rigorous and complete. Large loans for agriculture, industry and commerce require land and enterprise mortgages. If it is not returned, the land will be repossessed and the enterprise will be collected. and then auction for silver. Do you understand? Guan Xuqing helplessly explained them one by one.

"The emperor is really a god, God really bless me in the Qing Dynasty. I, Li Zhen, how can I be virtuous, and I actually hold an important position in an official residence. It's all the emperor mentioning it behind his back, Li Zhen feels ashamed! Li Zhen knelt on the ground again and said with a handful of snot and tears.

This is still very primitive in Guan Xuqing's opinion, but for the time being, it can only go so far, although now in order to win the battle between China and France, everything else is stable. However, in Guan Xuqing's heart, the financial and fiscal reform of the Qing Dynasty must be carried out. Providing low-interest loans for agriculture and industry is also a matter for the benefit of the people. After all, such a big country, so many wastelands. It is a pity that the Chinese have always had the habit of saving money, reclaiming wasteland, collecting half of it and handing it over to the state, and half selling it to repay the loan. But you have to find someone to do these things, and now I realize the importance of talents. Looking at Li Zhen kneeling in front of him, he was really ......

"Don't cry here, go back on an errand." Guan Xuqing waved his hand helplessly.