The news of the issuance of treasury bonds by the Chinese Empire is undoubtedly good news for Japan and Russia, which also proves that the finances of the Chinese Empire cannot guarantee their military operations.

This was also expected by Japan and Russia, and the Chinese Empire, which had just been established for a short time in the face of attacks by the two great powers at the same time, would sooner or later issue treasury bonds to raise funds, but they were not optimistic about the Chinese Empire's national bonds. But the situation was beyond their expectations, and they did not expect that the people of the Chinese Empire were no worse than the Japanese people who tightened their pants and thrifty to support military operations, and frantically bought their empire's national debts, and even the emperor donated his own family property, this situation can be imagined.

The optimism of businessmen from various countries on the Chinese treasury bonds made Russia and Japan very envious, jealous and hateful, and it was simply unreasonable for the Chinese Empire to be optimistic about its situation at this time, so they decided to give up some of the chess pieces they had planted in the Chinese Empire, trying to destroy the Chinese Empire's treasury bond market, especially the Chinese Empire's national foreign debt market.

On the second day after the issuance of the national debt, most of the newspapers began to publish the evaluation of the so-called brick house on the national debt, and many newspapers were in the black treasury, for example, the empire's finances have already run a huge deficit, and it is engaged in construction and large-scale military warfare, this deficit is very large, and the government is very likely to fall with the economic capacity of the empire; The country does not have so much money to repay the national debt after five years, let alone interest, who knows when the empire's foreign war will end, once the empire's foreign war fails, the empire will inevitably have no ability to repay its debts, and so on.

In the face of the evaluation of these "professional" people, many landlords and capitalists are waiting on the sidelines, although the interest on the national debt is large, but no one wants their money to be returned, and the current situation of the empire is very bad

Soon these brick house remarks were overturned, because the largest trading houses of the empire, together with many large and medium-sized industries in East China, once again declared that they would vouch for the imperial government, and if the government could not afford it, they would pay it off if they smashed the pot and sold iron, and the empire also had a central bank. Although the imperial government does not need these trading houses to guarantee it, it is also very grateful to them, and after obtaining the consent of His Majesty the Emperor, the government will give preferential policies to these trading houses and so on, and support their rapid development and growth.

The empire cracked down on the capitalists who wanted to speculate on the national debt, and all the presidents of the newspapers were invited to tea, and many of the newspapers were shut down on the grounds that they were the spy agencies of Japan and Russia. Although some people are very dissatisfied with the behavior of the imperial liquidation of newspapers, especially the Republic of China Party, which has been clamoring for freedom of speech and not interfering in the development of newspapers, these are just a small wave under the huge wave of issuing treasury bonds.

At the request of the Kaiser, the German government contacted Li Dahai, the Chinese ambassador in Germany, and they should do their best to fight for China's foreign debts, and it is best to become the largest creditor of China. After the speculation of his subordinates, Wilhelm II concluded that Huaxia would never settle the war with Japan and Russia so quickly, and that Japan and Russia would definitely not be able to compromise Huaxia in a short period of time, so he wanted to take this opportunity to draw Huaxia into the camp of the League.

Under the Kaiser's construction, the Allies wanted to buy a large number of Huaxia's national bonds, not why, just to be able to win over Huaxia, even if they couldn't win over, they could rely on these to let Huaxia support their various resources, and the cooperation with Huaxia had already made them taste the sweetness.

Not to mention the United States, Japan's attack on China gave them a greater understanding of Japan's ambitions, and they had to restrain Japan's development, especially in terms of the navy, and the Pacific Ocean was American, not Japan. The American consortium is very interested in China's treasury bonds, and they all want to get a piece of the pie, and even if China cannot repay the treasury bonds in the future, they can use this to threaten China to open up China's market.

On October 5, the government of the Chinese Empire officially announced the issuance of national foreign bonds, and the Central Bank of the Chinese Empire will cooperate with the strongest banks in various countries, and foreign treasury bonds are basically sold by banks of various countries.

As soon as the Chinese treasury bonds were issued, they were robbed, and businessmen and consortia from various countries were very excited, and even Chile immediately approached the Chinese Empire to ask for the purchase of some treasury bonds, which were quite a lot, as much as 100 million Chinese yuan.

The foreign debt of 10 billion Chinese dollars was purchased by the Allies and the governments of the United States, Chile and other countries with relatively good relations with China, and as much as 5 billion Chinese dollars, of which the United States had the largest amount, 1 billion Chinese dollars. If it weren't for the fact that the Chinese Empire did not allow it, the five billion Chinese dollars would not be enough at all, and the Chinese Empire insisted that the remaining five billion Chinese dollars would be used for market liquidity, and it would not be good for too many national debts to be concentrated on these governments.

The Chinese in Southeast Asia are very crazy about the national bonds of China, especially the Chinese in Indonesia and other places, they won more than 500 million Chinese yuan of national bonds in one fell swoop, one is out of gratitude to Qin Yu, and the other is to pave the way for the development of China in the future.

Since the Qin family entered the Dutch colony in Southeast Asia a few years ago, the Chinese there not only have the power to protect themselves, but their status and treatment have risen a lot, and there will be no situation where they will be slaughtered by the natives at every turn.

Many speculators in the world are speculating on China's treasury bonds, but they can speculate on China's foreign debts, only a few billion yuan in circulation, and those governments will definitely not use their own purchases to speculate, so the scope of speculation is not very large, and it is only carried out in Europe and the United States.

The Chinese Empire doesn't care how they speculate, anyway, the amount and interest are fixed, and they don't have the energy to care, and the military and domestic development of Japan and Russia have already given them a headache.

Soon after the issuance of treasury bonds by China, Tsarist Russia also began to issue treasury bonds, and their losses in the Far East were already very large, and they were already in a financial deficit, adding fuel to the fire, and the money borrowed from Britain and France could not be made public, otherwise it would cause turmoil. Tsarist Russia did not issue many national bonds, all of them were issued domestically, and only one billion dollars, that is, two billion Chinese dollars, were all used for military purposes.

The treasury bonds issued by Tsarist Russia did not cause a rush, but were very deserted, and the people who had increased taxes several times no longer had much money to buy treasury bonds, and the previous behavior of the Tsarist government lost the support of the people, so it took a month to raise less than 200 million US dollars, of course, this is a later story.

In the imperial capital of the Chinese Empire, the Central Garden, and the parliamentary hall of the Huaxia Government, there was a dispute over the distribution of national debts this time, and the bigwigs from all sides wanted to fight for more funds for themselves.

"Education is the future of the empire, we must increase investment in education, there are many places where the educational facilities are very simple, education research has also increased funding, education backwardness is all-round backwardness, the prime minister must consider more education...... "First of all, Cai Yuanpei of the Ministry of Education stood up and asked the empire to strengthen investment in education, and the talents in the new era are indeed lacking in the empire.

"Minister Cai, the empire's investment in education is already large enough, do you have so many people to manage it? The investment a while ago was enough for you to toss for a long time, why do you still want to rob it, the investment of our Ministry of Agriculture is too small, the agricultural development of all parts of the country is too backward, many places are still slash-and-burn farming that is a very primitive way of farming, there are still nearly one-fifth of the people in the country who do not have food and clothing, food is indispensable. We demand greater investment in agriculture, especially in the study of major crops such as rice and wheat. The Minister of Agriculture was gulping out saliva, while the others listened quietly.

"The empire should increase the development of medical services, especially the development of traditional Chinese medicine......"

The ministers of one department after another blushed and wanted to fight for more funds to develop the things they managed, just like the aunts in the vegetable market were bargaining, Chen Fu sat on the main seat and watched the play while drinking tea slowly, and it was rare to see a group of big men arguing with grace.

When everyone was tired of arguing, Chen Fu stood up and said, "Don't quarrel, what kind of system!" The money for the national debt had long been arranged, and about two-thirds of the funds were at the disposal of the government, and His Majesty had personally ordered that one-third of the funds should be used to support the military of the empire. His Majesty also called for greater development of industry, agriculture and education, especially industry. ”

"Lao Chen, is there too much military investment, which will lead to deformed development?" A few bigwigs asked cautiously.

"Not much, this time it was originally issued to raise war funds, and some were paved for His Majesty's earth-shattering plan, as for what it is, I can't say, it can be said that the empire will tend to military development for a long time in the future, after all, we have too many enemies, and the empire is too far behind Europe and the United States!" Chen Fu said with emotion.

……

The treasury bonds issued in China were sold out in less than 10 days, and the largest commercial banks in the empire alone bought more than one billion yuan of treasury bonds, and a large amount of money was sent into the Qin family from foreign Pan Asia Oil to support the purchase of treasury bonds. Many of the landlords of the empire were also very wealthy, and some of the landlords' property was even more terrifying after hundreds of years of accumulation. Especially the conservative landlords, who prefer national debt, because they do not follow the trend to develop capital industry, and the capital is there.

The Imperial Government, which had received the funds, soon left behind a large number of orders for various supplies throughout the country, and the merchants laughed from ear to ear and hurriedly asked the workers to work overtime.