Xiao Lotian shook his head, broke it open, and crumpled it to reason with Jae-chun, "Look, you now own 25% of the shares of Fusang Bank, and you use the proceeds of these shares to borrow from Lotte Bank, I estimate that four million dragon pattern silver coins can still be lent out......"

"What do you use in exchange for loans and interest? Of course, it is the profit created by your shares in Fuso Bank, and in the future, you can leave a part of the dividends of your shares in Fuso Bank as pocket money, and the rest will be used to pay off debts......

"Immediately after, you send four million silver coins back to Jingshi, in addition to getting the prestige of the imperial court, you can also get four million household bonds, which are all the money owed by the provinces to the imperial court, it is impossible for him not to admit it......"

"Immediately after that, you entrust these white slips of the account to Rakuten Bank for sale, and after charging a certain fee and custody fee, the four million debts are broken down and broken down into small bonds......"

Speaking of this, Xiao Lotian took out a few stiff pieces of paper from his arms, and Jae Chun was attracted at a glance, he had never seen such a beautiful printed paper.

He had no idea what the paper was made of, and his fingers clicked and his hands didn't break.

There are three types of bonds in front of you, the first kind of front is written with a denomination of one hundred yuan, and the ticket is redeemed when you see it, and the ticket is not recognized, and the north side is nine flying dragons circling in imitation of the Nine Dragon Wall pattern.

The second denomination of the bond has ten yuan written on it, which is still a recognition of the vote and does not recognize the person, and the reverse pattern is the Great Wall. The third denomination is a circle, and the reverse pattern is Mount Tai.

Xiao Lotian took a bond and catered to the sunshine to point out to Jae-chun, "You see, there is a dragon watermark on the left side of the bond, which is a very superb anti-counterfeiting logo, and ordinary people can't forge it......"

"Such a small bond is actually a dismantling of the household treasury bonds, and the division into small denominations is for the convenience of the people and merchants to buy!"

"But why do the people and merchants want these debts? This is not right, it's like you owe money to others, why do I have to rush to buy your debts and pay them off for you?" asked Jae Chun puzzled.

"Good question, really good question, my family owes money and an IOU, why should your family use cash to buy the white slip in my hand?

"This kind of bond is written with the year, according to the agreement, after ten years, the people can get 30% interest on this bond, if you can't wait, we will give you 10% and a half interest in five years, if you only hold it for more than 3 years, we can only give half of the interest......"

"For less than three years, Lotte will only give the principal without paying any interest......"

"Then what if Lotte Bank can't afford it? Everyone has gone to run, and you don't have so much money to pay back, won't this become waste paper?" Jae-chun was smart enough to think of the key point at once.

Xiao Letian smiled and said, "Yes, there will be such worries, but don't forget, the provider of the white strip is not the ordinary people but the state! The local governor owes money to the state, the state owes the bank, and the bank owes the people money, since this circular chain includes all links of economic activities, then we can treat the bond as the silk thread of the necklace......

"There is another thing that everyone is familiar with in the silk thread that strings the necklace, and that is the tax! So don't be afraid of the bond thread breaking, as long as the tax thread continues, the necklace will not be scattered......

"Are you saying that taxes are used to guarantee the credit of bonds?" Zai Chun's eyes suddenly lit up, "Master is really a genius, even if he can't pay back the principal and interest, it doesn't matter, as long as the imperial court recognizes these bonds and is willing to accept bonds to pay taxes, then the credit will never waver......"

"This is no longer a piece of waste paper, even if the common people do not want high interest, just to be able to use this thing to pay taxes, they will not refuse to use the use of bonds......"

Xiao Lotian laughed, "That's right, not to mention that there is a discount of 10 thousandths of a thousand for paying taxes with bonds, although it is not much, but for large businesses, 10 thousandths is a lot, for this preferential they will also desperately collect these bonds from the market, when the bonds are in short supply and someone rushes to ask for them, credit will not be born?"

"But...... However, the imperial court has not proposed a preferential tax policy, how can the local governor give such benefits to the people?"

"If the local governor doesn't give it, I will give it to the Lotte Bank! You Qing Dynasty don't recognize this policy, but we in the Ryukyus admit it! Now that the trade volume between the southeast coast and the Ryukyus is rising, as long as they find out that the tax collectors in the Ryukyus are giving preferential treatments, it will be fine......

"What's more, when Ryukyu merchants and Lotte & Co. trade with the Qing Dynasty, they will also give this kind of bond a discount of 10/1000, which means that the money from these concessions is not from the local government at all, but from the Ryukyus!"

Zaichun nodded, "I understand, the local governor can't avoid trading with the master, as long as the time comes, the bond transaction can have a 10/1000 discount, then the local governor will naturally be happy to accept these bonds......"

"At that time, the people saw that the big merchants were willing to collect these bonds, and the government was willing to collect taxes, and they were not only willing to ask for them, but even rushed to ask for them...... Just like the military stamps issued by Tanggu and Ryukyu, it was a piece of paper but it became the soldier's salary, and all the merchants did not refuse it......"

"Master, how do you have such a brain? You're too smart......

Xiao Lotian took a sip of wine and said lightly, "A country's economy can't rely too much on taxes, it's like a necklace with only one silk thread strung together, it's too risky, it's like the south has a long hair, a war will mess up the taxes in the southeast, and the silk thread will be broken as soon as it is pulled." ”

"So I'm going to add an extra silk thread to the necklace of the economy and make it a double insurance, which seems to be a lot more cumbersome, but it gives the imperial court a chance to turn over, and the treasury suddenly has a few million taels of silver, and the financial crisis will not be over?"

Zaichun suddenly realized this, he beat the snake with a dead face on the stick, and then begged the master: "Good master, since you have such a good method, then underwrite more bonds! The treasury has tens of millions of taels of white strips, if you make a little bigger, you can get 10 million......

Jae-soon is really smart, and he keenly discovered the important role of Lotte Bank in this entire bond underwriting chain. Once the average philistine person finds the opportunity to make a fortune, most of them think of it as a monopoly, especially those emperors who grew up listening to the praise, and they feel that they are very remarkable.

What you Xiao Lotian can do, can't the imperial court do? If I kick you out, won't I be able to issue bonds myself? When the time comes, I will earn the money myself.

But Zaichun is no longer the emperor who is raised in the deep palace, and it has been more than half a year since he traveled to school, and the ups and downs have made him mature quickly.

Rengui is self-aware, and he knows very well that the matter of underwriting bonds is definitely not as simple as the master said, and it is definitely impossible to do such a big business with the waste of the household department or the internal affairs department.

If you expect to cross the river by feeling the stones and bear the risk of failure, it is better to board the master's ready-made big boat directly, at least it is much more stable. Jae-chun himself didn't feel that he was now more and more dependent on Xiao Lotian.

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