Capital.

Wu Fu soon found that he was Liu Jun's big boss, and he had previously packaged the salt business with the taxes of the Four Seas Bank, the Jiangnan Manufacturing Factory, the East India Company, etc., and set a tax amount of 20 million silver dollars per year, and Liu Jun happily agreed. Wu Fu felt that he had taken a big advantage, especially when Liu Zongzhou supported him and asked Liu Jun to agree to the 20 million tax payment, which had to enter the household department, and when he used it, he had to be signed by three people to pay it.

20 million yuan, the financial problem can be greatly alleviated.

Then, he soon discovered that there was a reason why Liu Jun agreed so happily. Although the 20 million yuan had to be handed over in batches, the first batch of 8 million had indeed arrived.

But when he and the officials of the household department drew up a plan to draw money and prepare to use the 8 million yuan, he found that things were far from being as simple as he imagined.

Liu Jun vetoed the list because he pointed out that military spending was not included and that military spending should be given priority. And Liu Jun quickly proposed a supplementary plan, and the withdrawal slip in it made Wu Fu startled.

Because Liu Jun included a large amount of military expenditure in this list.

The most unexpected part of his surprise was not the military budget for the suppression of bandits in the Central Plains, but the military budget of the Chu army was also officially included in the military budget, which was the first time.

From the beginning to the present, the Chu army has never received food and salary from the imperial court in a few years, from a nine-headed bird and horse team of dozens of people to more than ten towns now.

This also made Wu Fu and them ignore this important issue.

But now, Liu Jun has just given Wu Fu 8 million with his left hand, but his right hand has already listed the Chu army's military budget requisition.

According to Liu Jun's military budget list, the military expenditure of the Ming army in the first year of Longwu will reach 80 million. Among them, the Chu army occupies a large amount, the nine major military regions, the navy and army departments, plus the defense outside the customs and the suppression of bandits in the Central Plains, as well as the change of clothes, training, food and salary in the towns. The clarity of one item is shocking to watch.

The number of 80 million alone shocked Wu Fu.

The imperial court would never be able to come up with so much money, and even if the imperial court did not pay the military expenses of the Chu army, the other parts of the imperial court would not be able to pay it either.

"A full outfit change can be postponed."

In the Prime Minister's Office, the ministers met with each other, and there were no other ministers. Wu Fu's face was gloomy, "We don't need to change our clothes right now." ”

Liu Jun smoked a cigar and nodded, motioning for himself to listen. Liu Zongzhou was holding a large cigarette stick. Smoking a cigarette leaf in one sip.

He tapped his pipe on the sole of his shoe a few times, and then said, "I'll say a few words, the number of troops should be reduced a little more." Especially in the south-east, there is no need to maintain such a large number anymore. I propose that the number of troops in the southeast, southeast, and southwestern towns should be reduced, and that only one town should be retained in the six military regions of Sanjiang, Fujian, Zhejiang, Liangguang, Yunnan-Guizhou, Central Plains, and Shaanxi-Gansu. Moreover, it is no longer the establishment of two divisions and six associations, but can be changed to the establishment of two divisions and four associations, and one town is reduced to 20,000 people. ”

"Sichuan Lake, Guanwai. Each town retains two towns of soldiers and horses, and a town with a full strength of 30,000 people can be retained. ”

"There are three towns in Zhili, one army each for the Praetorian Guard and one army for the guards, and the four towns of the Navy Division can be compressed into two towns. 20,000 people per town. ”

According to Liu Zongzhou's meaning, that is, since it is now a standing army of the recruitment system, there is no need to keep so many numbers. Lean soldiers and streamlined administration. In the end, the Ninth Military Region plus the navy and the guards and pro-army will be comprehensively compressed and streamlined.

According to his streamlining method, then in the end, there were 410,000 land and water soldiers and horses left in the Ming Dynasty, a total of 16 towns and horses. It is divided into a first-class town with 30,000 people, and a second-class town with 20,000 people.

The number of armed forces has been drastically reduced, and the cost of equipment and training has naturally increased significantly, and at the same time, the expenditure on military salaries has also been greatly reduced.

This reduction is quite large, almost half of the number of people.

Liu Jun did not object to this kind of plan. Anyway, streamlining also happens to streamline other old Ming armies, and the Chu military department can also take the opportunity to expand its territory and enhance its strength.

"Lushun and Zhenjiang are one town, Ningyuan, Jinzhou, Guanning are one town, Denglai, Kaifeng are one town, Xuanfu, Datong, Taiyuan are one town. The garrison and garrison armies were each reduced from three divisions to two divisions and six associations. ”

"The East China Sea and South Sea fleets were combined into one town, and the two fleets were reduced to two sub-fleets, each with 10,000 men, and the number of marines was reduced to maintain as many ships and sailors as possible. The Yangtze River Naval Division was combined with the troops of the Sanjiang Military Region and reorganized into a town of 30,000 people, with an army of 20,000 and a naval division of 10,000. ”

Liu Jun and Liu Zongzhou bargained.

"There is no need for Sanjiang to keep the water division."

"There is still a need for a sailor, although the imperial court has a navy, but the inland river is different from the sea. In this way, the three towns of Zhili were moved to one town in Shanxi, and the original soldiers and horses of Nazhen in Shanxi were dismantled. ”

As a result, the three military regions of Zhili, Chuanhu, and Guanwai each retained two military towns with a full strength of 30,000 people. The five military regions of Fujian, Zhejiang, Liangguang, Yunnan-Guizhou, Central Plains, and Shaanxi-Gansu will each retain only one type B town, with 20,000 people in two divisions and four associations. ”

The Sanjiang Military Region is a town, but there are two divisions and four allied armies, plus a naval division of 10,000 people in the river fleet, a total of 30,000 people.

In addition, the size of the Praetorian Guard and the Guards remained unchanged, with 40,000 men for the two armies, and the navy was changed to Beihai and Nanhai Towns, each maintaining the size of 30,000 men.

"All 320,000 horses, a total of 16 towns, the North Sea Fleet is assigned to the Zhili Military Region, and the South China Sea Fleet is assigned to the Fujian and Zhejiang Military Region."

"If this streamlining plan is completed, then there will be 320,000 soldiers and horses left, and if the speed of changing equipment is slowed down, this year's military expenditure can be reduced to 35 million, and if we add the suppression of bandits in the Central Plains and the defense outside the Guan, it can also be maintained at about 40 million."

40 million, which is more than half of the 80 million planned by Liu Jun before.

However, it is still a large number, especially what makes Wu Fu dissatisfied is that most of the 40 million will eventually become the military expenditure of those military towns controlled by Liu Jun.

Use the money of the imperial court to raise Liu Jun's soldiers.

Even if only 320,000 soldiers were retained, an average of four pieces of silver per month, and a month's salary would be 1,280,000. Not to mention the cost of equipment, training, etc., as well as food consumption.

The 8 million that Liu Jun just pulled into the treasury was only enough for half a year.

The 20 million yuan of the total tax package is only half of the annual military expenditure.

Wu Fu was once again faced with a dilemma, and his financial predicament did not improve by half a point.

What's more, the imperial court has issued 40 million treasury bonds, and in fact, these bonds were issued by the Four Seas Bank, which means that the imperial court owes 40 million to the Four Seas Bank. Interest alone is already a big number.

Wu Fu couldn't find a way to do it. The tax intelligence in the southeast has improved slightly, and it is estimated that there will be about 10 million in revenue this year, and it is estimated that there will be about 5 million in other taxes, and the rest will be imperial grain.

Even if the imperial court does not pay interest on bonds this year, the income will only be 35 million, and there is still a gap of 5 million from the 40 million military spending. What's more, other aspects of the imperial court also need to use money, all aspects, and officials' salaries. The clan's income, as well as local expenses, etc., and disaster relief, etc.

"The imperial court has to issue bonds this year, otherwise it will not be enough to spend."

Liu Jun smiled, and then made a very tempting proposal to Wu Fu.

"The imperial court can issue another 20 million bonds, and the 20 million bonds can be purchased by Sihai Bank, and even the 40 million bonds issued by Sihai Bank before can also be redeemed and paid by Sihai Bank in the future."

In the future, the 60 million bonds of the imperial court will be held exclusively by the Four Seas Bank.

"The 60 million bonds will not be repaid by the imperial court in the future. Interest only needs to be paid annually. With an annual interest rate of 8 percent, plus a custody and handling fee, the imperial court can pay 5 million yuan of interest to the Four Seas Bank every year in the future. ”

This proposal surprised both Wu Fu and Liu Zongzhou.

There is also such a good thing, as long as the borrowed money is repaid, the interest is repaid. Don't have to pay back the principal? Wu Fu quickly calculated an account in his heart, and the interest rate of eight percent was by no means high in terms of the current interest rate outside. As far as he knew. The lowest one-year maturity of the bonds issued by the imperial court was 10 percent interest.

Sixty million, five million a year. The interest paid in 12 years is 60 million principal. But if it is an ordinary bond, it is necessary to repay both principal and interest, and the interest rate is high, and it has to be compounded.

Five million a year, with the current tax of the imperial court, can definitely be paid. After all, the current several taxes of the imperial court are 35 million a year.

However, Liu Jun put forward a supplementary condition to Wu Fu that made him even more excited.

"In the future, when the imperial court is in urgent need, it can still borrow from the bank according to this condition, and it can be limited to less than 20 million per year."

Wu Fu admitted that he was a little confused, and he couldn't figure out what benefits this plan would have for Sihai Bank?

Of course, Liu Jun also has conditions, that is, the loan of the imperial court, which is borrowed by issuing bonds as collateral. Then, the imperial court granted Sihai Bank the exclusive right to mint silver and copper coins and print silver dollar coupons.

"Please rest assured that Sihai Bank will not print money indiscriminately and create chaos. Four Seas Bank will use the bonds pledged by the imperial court as a reserve, and then issue silver dollar bills. ”

Wu Fu was still puzzled, Sihai Bank was Liu Jun's property at all, and he had already obtained the right to mint silver coins and print silver dollar coupons.

After all, the silver dollar coupon is not a treasure note in the early years of the imperial court, it is something similar to a Zhuang bill. Each coupon is guaranteed to be redeemed for the silver coins on the ticket.

It is precisely because of this that the imperial court did not care much about giving this money printing right to Sihai Bank.

Because the printing of silver dollar coupons is necessary to have silver dollars as reserves, without silver dollars, random printing, then they can't pay for exchange, and the last one to collapse is the Four Seas Bank, in the eyes of Wu Fu and other officials, this is a purely commercial behavior, and it has little to do with the imperial court.

If it weren't for the fact that the imperial court had no silver, the imperial court would have done this business on its own.

Now that Liu Jun has come full circle, isn't it strange that he came out with such preferential loan terms in exchange for a right that they already had?

Wu Jun didn't understand, but Liu Jun didn't intend to explain.

They don't know that Liu Jun is actually a blood transfusion to the imperial court in disguise, and the Ming court is still a very valuable tool for Liu Jun, and he doesn't want him to go bankrupt now. At the same time, the money was lent to the Ming Dynasty, and after a turn, most of them also returned to the Chu army.

What's more, he also needs to re-establish the right of the Four Seas Bank to mint coins and issue silver dollar bills.

Liu Jun did not tell them that he was going to start the money printing machine and increase the amount of money. For Liu Jun, 20 million or 30 million is just paper.

Of course, Liu Jun didn't plan to print money without reserves like Zhu Yuanzhang. Liu Jun is still very careful to control this amount, he is ready to issue additional silver dollar bonds, and the reserve is the bonds mortgaged by the imperial court, and those bonds are interested, which is the future tax of the imperial court.

Besides, Liu Jun still has one last condition that he hasn't told Wu Fu.

"In the future, the loans lent to the imperial court and the taxes included in taxes will no longer be paid in silver dollars, but directly in silver dollar coupons." Liu Jun said his last condition.

The silver dollar is the most important asset of the silver dollar in the four seas, and Liu Jun will try his best to control it in his own hands.

This condition made Wu Fu and Liu Zongzhou hesitate.

In those years, the imperial court had no reserves for printing money, and it could print as much as it wanted, and forcibly stipulated the exchange rate of treasure banknotes and silver taels, copper coins, and rice, and used these banknotes to pay officials and soldiers, and used them to buy supplies, but in the end it became notorious.

They were worried that Liu Jun also wanted to play this set.

"Don't worry, the two elders don't have to worry, paying with silver dollar coupons is just for the convenience of payment. Silver dollar coupons can be exchanged for silver dollars at any time, which is the foundation of Sihai Bank, and Sihai Bank will not smash its own signboard. Liu Jun explained to the two with a smile.

In order to make them believe in themselves, Liu Jun said, "It's better to do this, the future taxes of the imperial court can accept the common people and merchants to pay taxes with silver dollar coupons." The imperial court can use these silver dollar coupons to exchange silver dollars for silver dollars at any time, how about it? In this way, it is convenient for the people to pay taxes, and it is also convenient for the court to collect taxes. ”

At that time, the credit of the imperial court's treasure banknotes went bankrupt, and in the end, the imperial court only printed and distributed the treasure banknotes, but refused to recover the treasure money. He refused to let the people pay taxes with treasure money, which eventually led to the complete bankruptcy of treasure banknote credit.

Zhu Yuanzhang was an emperor from a peasant background, and he was completely small-scale peasant in his economic set. The treasure money he engaged in was just the treasure money of the Yuan Dynasty. However, the treasure banknotes of the Yuan Dynasty had reserves, and the number of issuances was still controlled, and even so, in the end, the credit of the treasure banknotes of the Yuan Dynasty was completely bankrupt.

But Zhu Yuanzhang engaged in treasure money, but he had no reserves at all, and he was not linked to gold and silver, so he engaged in decoupling as soon as he came, forcibly getting credit currency, but he did not control it, and printed money without restrictions, which was completely an economic layman.

The end result is that the treasure money is indiscriminately issued, the credit is bankrupt, and it has become a pile of waste paper that everyone hates.

Liu Jun would never make such a mistake. (To be continued.) )

PS: Thank you for your support, thank you. The cervical spine hurts so much these days that I can't lean back, it's late to update, sorry!