Chapter 160: Stock Market Crash
Rubber stocks crashed, and the Shanghai market was thrown into chaos.
As the Taoist platform of Shanghai Road, not to mention the character for the time being, it is Cai Naihuang's responsibility to stabilize Shanghai's financial order, which is undoubted, but how to stabilize it makes Cai Naihuang want to hit the wall with a headache.
"Master, Mr. Zhou Jinzhen of the Shanghai Chamber of Commerce asks to see you..."The housekeeper walked into the study and bowed his head to Cai Naihuang, who had a headache, and whispered.
Hearing that it was Zhou Jinzhen coming, Cai Naihuang hurriedly raised his head and said. "Is it Mr. Zhou? Invite him in. β
Not long after, Zhou Jinzhen walked in from outside.
Seeing Zhou Jinzhen, Cai Naihuang hurriedly stood up in his seat.
"Mr. Zhou, please sit down...", he ordered someone to move a chair.
Zhou Jinzhen did not shirk, and said bluntly after sitting down. "Lord Daotai, now that Qianzhuang has closed down one after another, if you don't stop it, I'm afraid Shanghai's economy will be in danger..."
"This official is also very clear about this..."Cai Naihuang said with a wry smile. Just how to do it..."
Without waiting for Cai Naihuang to finish speaking, Zhou Jinzhen had already spoken. "Yuan Fengrun and Yishan Yuan dominate the country, I don't know if the lord can make a suggestion to the imperial court, and the imperial court will borrow a sum of cash to deposit these two banks, and then the lord will allocate millions of taels from the Shanghai customs treasury, as long as these two banks do not fall, Shanghai's economy can return to stability..."
"Yuan Fengrun and Yishan Yuan..." Cai Naihuang nodded, he also had some understanding of the importance of these two money houses. I wonder if Mr. Zhou would like to go to Ningbo with his official and report the matter to the Governor and the Governor in person? β
Hearing Cai Naihuang say this, Zhou Jinzhen hurriedly bowed his hand. "It should be so..."Cai Naihuang's reputation is not very good. If he was the only one who went, Zhou Jinzhen was not very relieved.
The matter was urgent, Cai Naihuang and the others did not hesitate for too long, and the two set off for Ningbo the next day.
At this time, the governor of Liangjiang was Zhang Renjun. The governor of Jiangsu is Cheng Dequan, after hearing the narration of Cai Naihuang and Zhou Jinzhen, although the two frowned, they still nodded in agreement, saying that they would write to the court.
With the promise of the two, Cai Naihuang and Zhou Jinzhen finally breathed a sigh of relief.
With the turn of Zhang Renjun and Cheng Dequan, it didn't take long for Beijing to approve Cai Naihuang's emergency loan from foreign banks. At this time, Shanghai's economy was already in chaos, and Cai Naihuang knew that he could not delay. Hurriedly signed a "contract to maintain the Shanghai Municipal Loan" with 9 foreign banks, borrowing 3.5 million taels of silver, including 800,000 taels from HSBC, 500,000 taels from McQuarie, 500,000 taels from Dehua, 400,000 taels from Daosheng, and 300,000 taels from Zhengjin. 300,000 taels for Amundi, 300,000 taels for Citigroup, 250,000 taels for the Netherlands, and 150,000 taels for Huabi. At the same time, Cai Naihuang allocated 3 million taels of Shanghai official silver (including the tax "Shanghai Customs Treasury Money" of Shanghai Customs, which is in the nature of the state treasury), and deposited it in Yuanfengrun and Yishanyuan and its subordinate Zhuang number, and the Shanghai city temporarily calmed down.
Of course, it's only a temporary lull...
"Congratulations. Congratulations..."
Although the Huangpu River is already full of dead people. But in the yamen of Shanghai Daotai, Cai Naihuang and many others still congratulated each other, and in any case, they temporarily suppressed the chaos in Shanghai after all.
In the eyes of many, this is even a thing of the past.
However, in September, the Qing court wanted to take out 1.9 million taels from the "Shanghai Customs Treasury Fund" to repay the Gengzi indemnity. After learning about this, Cai Naihuang frowned in the study.
Cai Naihuang has already used this money to save the market, and now the Shanghai market has not stabilized, if the money is withdrawn like this, it is easy to plunge Shanghai into chaos again.
So after pondering for a while, Cai Naihuang wrote a copy of the recital and handed it over. He asked the imperial court to allocate 2 million taels from the Daqing Bank.
Daqing Bank was founded in July of the 34th year of Guangxu of the Qing Dynasty (1908), and was originally known as the Hubu Bank of the Qing government. In the 32nd year of Guangxu (1906), the household department of the Qing government was renamed the degree branch, and the household bank was renamed the Daqing Bank.
According to the nature of the folds, Cai Naihuang's folds are handled by the branch.
However, after receiving the setback, Chen Bangrui, the waiter of the Du branch, sneered, he and Cai Naihuang had always had a dislike, but this time it seemed to him that it was a godsend.
"I'm worried that I can't find an excuse to clean you up..."After saying that, Chen Bangrui wrote a letter by hand, and sent a telegram to the yamen of the governor of Jiangsu, that is, his student Cheng Dequan.
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In the yamen of the governor of Jiangsu, Cheng Dequan was reading a new newspaper that had recently been published.
It's just that he doesn't know what Lu Dao is about, he always feels a little uneasy, and he can't even read the newspaper in his hand.
"What the hell is going to happen?"
The biggest problem now is Shanghai, but since the imperial court allowed Shanghai Dao to borrow from foreign countries and deposited more than 3 million official banks, Shanghai's market has gradually begun to stabilize, and there is no fluctuation for the time being.
And apart from the incident in Shanghai, Cheng Dequan couldn't think of anything that would make him uneasy.
Revolutionary party?
Now the revolutionary party is really making trouble, but at least in Cheng Dequan's opinion, there will be no problems in a few years...
Just when Cheng Dequan was a little strange, the housekeeper outside walked in and handed him a telegram.
When Cheng Dequan saw the content of the telegram, he immediately smiled bitterly, and he also understood that he would be upset because of something.
As a student of Chen Bangrui, Cheng Dequan naturally knew that his teacher and Cai Naihuang had always had a disagreement. It's just that he would never have thought that his teacher would instruct him to participate in Cai Naihuang, saying that he vainly claimed that the market was panicking, intimidated the government, and disregarded the face of the court and delayed the payment of "Geng money".
Of course, the most important thing is that Cheng Dequan himself doesn't like Cai Naihuang, Cheng Dequan was a little reluctant when Cai Naihuang asked them to play, and now that he has an excuse to clean up Cai Naihuang, Cheng Dequan doesn't mind taking advantage of it.
It's also that he doesn't understand the seriousness of the matter, and if he did, he probably wouldn't have done it.
However, if he did not do this, the Xinhai Revolution would have to be postponed for another three or five years, so people should really thank Chen Bangrui and Cheng Dequan here.
If not for them. China will be ruled by the Qing court for at least a few more years, even if it lasts until the end of the First World War.
Of course, those who jumped into the river, the river, and the building should be grateful to Chen Bangrui's eighteen-generation ancestors. Thanks to him, Cai Naihuang's imminent successful rescue operation finally failed...
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In the Shanghai Daotai Yamen, seeing that the market was finally stable, Cai Naihuang was also relieved.
After all, as a Shanghai Daotai, if this incident is not handled properly, let alone being dismissed, it is not impossible to be killed. Now that the matter has been dealt with, his top is naturally preserved...
"This tea is good..."After tasting the tea just delivered, Cai Naihuang praised it repeatedly.
At this time, the housekeeper outside suddenly ran in in a little panic. "Master, the imperial court has sent someone to deliver the holy decree..."
"Divine decree?"
Somewhat inexplicable. However, Cai Naihuang hurriedly put down the teacup and walked out of the house with the housekeeper.
Not long after he left, Cai Naihuang saw a team of people standing there. Seeing that it was indeed someone from the imperial court, Cai Naihuang hurriedly knelt down with the people around him.
The cha didn't talk nonsense with him, and read the decree straightforwardly. "Fengtian carrier, the emperor's edict said......"
There's a lot of mess up in content. But to put it simply, he's been dismissed.
After getting Cheng Dequan's recital. The Qing court immediately dismissed Cai Naihuang, and when he learned the news, Cai Naihuang was struck by lightning, but he finally called the Military Aircraft Department again, asking for a grace period, and stating that he must not rush to withdraw the "Shanghai customs treasury money" from Yuan Fengrun and other money banks. The reason why Yuanfengrun and Yishanyuan dominate the country is that they do not rely on foreign bank loans, and they have the support of the Shanghai Provincial Bank, which has about 6/10 of the bank's deposits in the Yuanfengrun system and 4/10 of the Yishanyuan system. If you withdraw money from the bank at this time, the matter will be irreparable.
It's just that Cai Naihuang's call to the Military Aircraft Department is still regarded as intimidation. In addition to being severely reprimanded, he was also ordered to complete the delivery within two months. Under the burden of shame and indignation, Cai Naihuang had to ask Yuan Fengrun and Yishanyuan for official funds, and withdrew more than 2 million taels in one fell swoop. There is no way, who called him Yuan Shikai's person, plus he offended many people, now that Yuan Shikai has fallen, it has become a matter of course that he is unlucky.
After Cai Naihuang raised more than 2 million taels of cash from Yuan Fengrun and Yi Shanyuan, foreign banks suddenly announced that they would refuse to accept the bankers of 21 Shanghai money banks, which led to the collapse of Yuan Fengrun and the collapse of six large silver accounts. At the beginning of the storm, foreign banks still had about 10 million taels of loans to Shanghai Zhuanghao, and 6.4 million taels before the collapse of Yuanfengrun, and by the beginning of December, the loans had dropped to about 600,000 taels.
After the fall of Yuanfengrun, the Du branch telegraphed Daqing Bank to urgently transfer 1 million taels of silver to Shanghai. On December 11, Zhang Renjun, the governor of Liangjiang, came forward to borrow 3 million taels from HSBC, CrΓ©dit Agricole and Dehua Bank, with an annual interest rate of 7% and a term of 6 years, guaranteed by Jiangsu Yanli.
By the time of the Spring Festival in 1910, more than 30 money banks had closed down. At the beginning of 1911, Sheng Xuanhuai took office as the secretary of the Ministry of Posts and Communications, and in order to combat the power of Liang Shiyi's faction installed by Yuan Shikai in the Bank of Communications, he began to check the accounts of the Bank of Communications.
Li Jingchu, the major shareholder of Yishanyuan, was Li Hongzhang's nephew, who was the right attendant of the Ministry of Posts and Communications, the prime minister of the Bank of Communications, and the assistant manager was Liang Shiyi, a close confidant of Yuan Shikai. When Cai Naihuang withdrew the money earlier, he borrowed 2.87 million taels from the Bank of Communications with his property as collateral, and urgently transferred funds from branches across the country to make up for the deficit after the transfer of official funds, and temporarily kept the source of righteousness.
Now Sheng Xuanhuai checked the accounts and Li Jingchu had no choice but to return the money borrowed by Yishanyuan from the Bank of Communications, resulting in only 7,000 taels of cash left on the books of Shanghai Yishanyuan. On March 20, Ding Weifan, the manager of Yishanyuan's general account, tried to use the stocks of various enterprises in his hands to borrow 100,000 taels from Liu Yanji, the newly appointed Shanghai Daotai. The next day, Yishanyuan went bankrupt with a debt of 14 million taels.
Yuanfengrun and Yishanyuan branches spread all over the country, and their collapse caused panic in Yingkou, Beijing, Guangzhou, Chongqing and other cities.
At the beginning of 1910, there were 91 money banks in Shanghai, and 48 of them closed down due to the stock market crash, accounting for 53% of the total, with a total deficit of 19.33 million taels.
Nanjing, Zhenjiang, Yangzhou, Suzhou, Hangzhou, Ningbo and other six major economic towns have closed down 18 well-known money banks and ticket numbers, and they have been implicated. With the exception of Suzhou, all of the above-mentioned five major cities have collapsed.
At this point, this turmoil is out of control...
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In the manor. Yan Shao didn't expect that just a restriction order of the US government could set off such a big storm, and almost half of China's finance was involved.
"No wonder some people in later generations will say that this turmoil destroyed more than half of the New Deal at the end of the Qing Dynasty..."
Because of such a turmoil, almost half of the country's money bank ticket numbers have fallen.
"Boss, should we intervene?" Seeing that Yan Shao was sitting on the main seat and did not speak, Li Liang sat aside and asked softly.
Although the financial turmoil mainly affected the coastal areas, the impact on Anhui was not small. Many of the group's business partners and business partners have been put in danger because of this incident, and if no one stands up to help them, the result can be imagined.
It's just that at this time, it is probably impossible to count on the Qing court. At this time, the Qing court had already been overwhelmed by this matter, and where could they afford to take care of them.
In addition to the Qing court, I am afraid that only Yan Shao has this ability.
Li Liang didn't know about London. In order to keep it secret, except for Elanon, Katarina, Yan Shao and Lu Ying, only those who traveled together in the Special Affairs Department knew about this matter.
Therefore, Li Liang and these people did not know that Yan Shao had earned more than 110 million pounds in this turmoil. It is equivalent to four times the total fiscal revenue of the Qing government this year.
But that's not clear. It also did not hinder Li Liang's confidence in Yan Shao.
The outside world is not clear, but he is still very clear. There is an oil field in Tampico, and it is still very easy for Yan Shao to settle this matter.
Shaking his head, Yan Shao didn't answer his question.
Solving this matter and saving those national capitals is indeed an easy thing for Yan Shao. The problem is that if it weren't for the turmoil, the Qing government would not have used the Sichuan-Han Railway and the Guangdong-Hankou Railway as collateral to borrow money from foreign banks.
If the Qing government had not done this, the 'Road Protection Movement', the vanguard of the Xinhai Revolution in history, would not have taken place. Naturally, there is no need to think about the Wuchang Uprising, so at this time, Yan Shao can only choose to stand by and watch.
Lucky. China is not the only country that is unlucky at this time.
"Outside of Shanghai, what is the situation in London and Japan?"
With his chin in his right hand, Yan Shao looked at Katarina, who obviously needed to be asked about the situation.
"Similar to Shanghai, the River Thames in London is said to be fishing for hundreds of bodies every day, and the same is true in Tokyo Bay. In addition, unlike Shanghai, where the main force to buy stocks is the bank, the ticket number, and the individual, most of the Japanese side are bought by the chaebols, so this time the Japanese side has suffered heavy losses..."
"The four major chaebols led by Mitsui and Mitsubishi, the thirteen middle-class conglomerates and the 31 small consortia have almost all been hit hard, and at least one-third of the consortia and companies in Tokyo will have to close their doors because of this, and there will be many consortia affected in other regions, and the direct losses will reach 200 million yen, and the indirect losses may be even more, but because of the lack of human resources, we can't get accurate information..."
At this point, both Caterina and Elaline almost had a smile on their lips.
Because no one else present knew better than them that the financial turmoil that happened in Japan was completely planned by Yan Shao, but they never expected that the effect would be so good.
However, it is not surprising that, unlike Shanghai, most of the buyers in Tokyo are conglomerates. And because only Lu Ying's family sold it at that time, and I don't know how many stocks she has in her hands, some consortia even go into debt in order to buy more stocks at a time...
At the beginning, these consortia also tasted some sweetness, after all, the price of money stocks continued to climb after the US government announced the ban. But who knew that the Americans would announce a ban in June, which directly led to the collapse of the rubber stock market...
And from a certain point of view, Japan's direct economic losses this time are probably greater than China's. After all, Yan Shao sold more than 20 million pounds of shares in Tokyo this time, which is more than 200 million silver dollars, which is about the same as the Qing government's financial revenue at this time...
With so many losses at once, even those chaebols who have accumulated for nearly a hundred years can't bear it.
On the other hand, Li Liang and the others were not surprised that Caterina actually knew so much about the situation in Japan, after all, they also knew what kind of power Caterina had in her hands.
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Seeing that the smiles on Eleno and Katerina's lips seemed to be a little unhidden, Yan Shao hurriedly patted their legs with his hand under the table, well, it felt very good.
After signaling the two of them not to be exposed, Yan Shao also said to the two people with his mouth. "They deserve it..."
was almost killed by the Japanese in Xiangshan, but this Qiu Yanshao didn't forget it at all, after all, it was too hanging. If Yan Shao's posture of landing like Tu Zhixian was a little worse, I am afraid that he would have traveled to another world by now.
Even to this day, when talking about what happened at that time, Yan Shao and the three of them were a little afraid.
Therefore, in Yan Shao's view, his revenge today is really legal and reasonable.
After all, at this time, most of Japan's chaebols are in collusion with the Black Dragon Society, of course, there are not, but accidental injuries are always inevitable...
However, Yan Shao also knows that with a loss of more than 200 million yen at a time, Japan's direct loss may be greater than China's. But Japan's recovery speed is not comparable to China's, after all, Japan has begun to industrialize, and China's industry still doesn't know where the road is...
This can be seen from the fact that almost all of China's biggest losses are money banks and ticket numbers, while Japan's chaebols and enterprises are the same.
"By the way, I still have something to do with you..."Touching his chin, Yan Shao said to Li Liang who came over. Pick out a group of clever men for me, and I'm going to send them to the South Seas..."
Such a good opportunity, it's hard to miss this time and have a second time...
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Thank you for the proposal of the tiger classmate who doesn't eat meat~~~
It is indeed a very good proposition~~~
In addition, I would like to thank γ-Tatsu and ANDY-zfh ~~~ (to be continued......)