The situation of the domestic financial crisis was transmitted to Yang Chao by radio, and Yang Chao attached great importance to it. Pen, fun, and www.biquge.info

This crisis is destined to not expand, but this is a symptom, a signal, that China's economic brutal expansion seems to have reached a limit.

War money continues to be distributed, and even as the Americans increase their investment in the war, the scale of hard currency flowing into China is greater than in the past.

Last year, more than 30,000 tons of silver flowed into China, 2,000 tons of gold, 6,000 tons of gold reserves of the Bank of China, 120,000 tons of silver reserves, and $500 million in foreign exchange reserves.

However, the huge foreign exchange inflow into China has only strengthened the credit of China's currency, and the Bank of China has not even issued much more currency, but has only replaced the old Yangtze Bank bills with new currencies, with a total issuance of only 20 billion, which has reduced the currency leverage to 1 to 8.

However, through crazy financial leverage, commercial banks issued loans of 500 billion yuan in this currency, and Yangzi Bank alone lent out 100 billion yuan of commercial loans, and the interest income alone reached 3 billion taels per year.

The financial crisis was a wake-up call for Yang Chao to understand that China's economic expansion had reached a limit, and that expanding would only lead to economic collapse.

The crisis itself was caused by the credit crisis after Yang Chao left, but if it wasn't for overexpansion, there could be no crisis, so Yang Chao immediately began to act.

The solution to this crisis is very simple, Zhang Jiaao used the Bank of China to print paper money to support the banking system, and then sold a large number of bonds, and released a part of the gold and silver reserves, but the hidden danger was not solved at all.

Yang Chao secretly ordered the bank to start shrinking, began to reduce the amount of lending, reduced the number of loans, increased bond purchases, and gathered funds to deal with the possible economic crisis.

During the war, there are a large number of war orders, the economic crisis is unlikely to break out, but once the war in Europe ends, without the support of the profits of the war array, the crisis will break out in heavy industry as soon as possible, and the current expansion of light industry has reached the limit, the factory equipment is basically saturated, after the end of the war, heavy industry will usher in a long depression, the depression time may be a round of replacement cycle of light industry machines, may reach seven or eight years.

It is really difficult to say whether the heavy industry enterprises have accumulated a lot of profits during the war, and whether this money will allow them to survive this cycle is really difficult to say, and it would not be surprising at all if there is a large-scale wave of bankruptcies.

Therefore, Yang Chao has to reserve funds, and when the enterprises can still raise enough funds in the market, the advanced funds of Yangzi Bank will be withdrawn, and when there is a crisis, it will be used to relieve these enterprises.

"The common people are still too poor!"

Yang Chao couldn't help sighing.

The main production of light industry is consumer goods, even if it blocks the competition of Japan's light industry products, Europe has no time to dump in China, and the light industry enterprises that monopolize the Chinese market have experienced a wave of expansion for nearly ten years, but they are still at the limit, and their scale must be far from the United States, not even one-third of the United States.

And China's population is more than five times that of the United States, which is obviously a very abnormal phenomenon.

The most fundamental reason lies in the huge average resource occupancy between China and the United States, the per capita arable land area, minerals, and forests of the United States are more than ten times the average of China, which is a congenital disadvantage, and in today's era of relying on digging resources to develop the economy, it is destined to be inferior to the Americans, not only China is not comparable to the Americans, but also the British and Germans are not comparable to the Americans, and the income level of the American people is always higher than that of other countries.

The only way to solve this problem is through industrialization, so that production efficiency can make up for the lack of resources.

This is a long-term problem that cannot be solved overnight.

However, other situations that affect people's incomes can still be solved, such as the problem of uneven distribution.

During the war, the capitalists of light and heavy industries made a fortune, but the wealth was too concentrated in the hands of the capitalists, and more than 20,000 millionaires appeared in the United States during the war, although China did not have such a large scale, but there were still nearly 10,000 million-level riches, and the middle class exceeded one million.

But compared to the total population of 500 million, this is only a small percentage, and it can only be said that some people have become rich.

The huge war dividends were not transferred to the hands of ordinary people, and the concentration of wealth was naturally the most efficient, but that was in a period of economic stability, economic stability, which could turn concentrated wealth into investment and expand the scale of the economy, but in times of economic crisis, these wealth would shrink with the depreciation of the currency, resulting in the evaporation of wealth.

Instead of letting the wealth evaporate, it is better to let the people benefit, so as to expand the market.

The corresponding currency must correspond to the corresponding product in order not to depreciate, because the currency is only the accounting unit of wealth.

How to make more people benefit, first of all, more than 400 million farmers, because the price of agricultural products has always been low, a large number of imported grain makes the price of grain not high, so Chinese farmers have always been poor, this is even Yang Chao intentionally, he believes that only the huge income gap in labor and agriculture can make the farmers who love their families leave the land and go to the factory to be workers, in order to promote industrialization and promote urbanization.

But Yang Chao does not want to change the status quo of the wage gap between industry and agriculture, because this is also the choice of the market, because of the lack of skilled workers, when China still has a large number of German and American technicians, it is very reasonable for Chinese technicians to enjoy high salaries.

Then it can only change the production efficiency of farmers.

The production of grain is inefficient, but the profits of cash crops are good, and the peasants are encouraged to plant a large number of such cash crops, and the people in the south of the Yangtze River grow mulberry and silkworms, and the suburbs and rural areas grow vegetables, and in the places with large populations, they raise pigs and ducks, and engage in sideline business.

To put it bluntly, it is to increase the value and output of land output, and the chickens, ducks, pigs and sheep raised will eventually enter the mouths of the people, improve the living standard at the same time, increase the product to maintain the physical object corresponding to the currency, and it is also the fundamental way to maintain the value of money and not let the wealth evaporate.

However, the more silk, vegetables and meat produced by the peasants must be able to sell in order to be effective, and ineffective production is not wealth, but a waste of labor.

It is also necessary to provide a market for the increased agricultural products, and the largest market for rural products is, of course, the cities, the large number of urban dwellers who do not produce agricultural products.

Increasing rural production and increasing urban incomes are mutually reinforcing.

This cannot be done by the banking system, but only by a large number of employers and a large number of capitalists who take the initiative to raise wages.

Of course, Yang Chao himself wants to participate in it, and of course his companies can increase wages, but it is only to increase his personal prestige and obtain personal honors like Ford, which is too wasteful.

"Just give the president a political achievement!"

Yang Chao quickly had an idea, and immediately sent a telegram to Mi Qing, telling Mi Qing the specific method.

Mi Qing soon issued a call in her capacity as president, calling on Chinese employers to raise workers' wages, and she hoped that every employer would pay workers at least one tael of silver a day.

This is a huge increase, which is nothing for those enterprises with high-end technology, such as the skilled workers of the diesel engine factory in Diesel, whose wages have reached 50 taels of silver per month, but for the handymen in those factories, it is a huge increase, because their average salary has always hovered around 10 taels.

Mi Qing is not just a call, he has also passed the authorization of the Congress, to reduce corporate taxes, to reduce tax measures for companies that raise wages, and the government will bear half of the costs of raising wages for enterprises. To this end, 10 billion yuan of special government bonds were issued, and the issuance of bonds was subject to the approval of the Diet, and there was no reason for the group of capitalist parliamentarians to oppose such government bonds issued for the purpose of reducing taxes.

At the same time, Yang Chao secretly ordered Li Sidi, chairman of the Fuqiang Party, to temporarily replace his own Fuqiang Party, so that the Fuqiang Party actively cooperated with the president's call, and the enterprises of the members of the Fuqiang Party must respond positively, telling them that it is time to implement the concept of strengthening the country and enriching the people of the Fuqiang Party, and the strengthening of the country has been basically completed, and now it has entered the stage of enriching the people.

If the enterprise does not cooperate, it means that it does not agree with this concept, and it means that it is a speculator in the party, not a real person with firm beliefs, and immediately leaves the party.

Originally, most of the entrepreneurs in the Rich and Strong Party still had ideals, and even a group of speculators wanted to rely on the organization to gain development opportunities, so no one dared to oppose it, whether it was sincere or false.

The enterprises of the members of the Rich and Strong Party are mainly in heavy industry, and the wage increase is not too much of a burden for them, and the cost increase does not exceed 20%.

The number of them is not very large, and the number of entrepreneurs in the Fuqiang Party is about 1,000, which is only a small part of China's emerging national capital, and they only play a leading role.

The real role of the Prosperity and Qiang Party is to use the organizations that have covered the whole country for some time to carry out active activities and call for wage increases in various places, and this move has established the image that they have just established as speaking for the poor people.

At the same time, there are many other responders, such as Zhang Jian, an older generation of national capitalists and advocates of industrial salvation, who are not opposed to raising wages for workers, as long as they are doing well, they are happy to respond to the president's call, and they only bear half of the cost, and the other half is through tax cuts.

Within a month of Mi Qing's call, millions of workers received a wage increase, a tenth of the total number of Chinese working class.

The impact has affected 10 million workers, because other companies have raised wages, and those that have not raised wages will be pressured, or their workers will quit their jobs to pursue higher wages, or they will quarrel with their employers and demand higher wages.

The increase in workers' wages has brought about an increase in consumption power, and of course it has also led to an increase in prices, but the increase in prices will lead to the expansion of the market, the increase in the output of materials, and the increase in wages for workers, like water poured on the ground, will penetrate layer by layer, and will eventually benefit the entire nation.

Historically, this general wage increase movement is called the daily wage one or two movement, and as the initiator, Mi Qing naturally obtained enough political achievements. (To be continued.) )