After some twists and turns, on May 12, 1855, the first currency after the establishment of the New Holy Roman Empire, the Holy Roman Shield, was officially issued to the public.

The Vienna government succeeded in obtaining the right to mint money, and the reserves of the governments of the states were also unified into the reserves of the central bank of the Reich, but temporarily deposited in the states.

It's not that Franz doesn't want to do it in one step, it's mainly because he has just dug a piece of meat from the bowl of the governments of various states, and it is easy to cause a backlash when he stimulates their nerves.

Since everyone wants to keep it in their hands, the central government will send someone to supervise it anyway and prohibit anyone from using these reserves.

There is no doubt that the central government can legally collect the seigniorage of the states once it has obtained the right to mint money. Seigniorage, as the name suggests, is the income from the cost of issuing currency.

Of course, now is the era of the gold standard, and reserves are still needed, and the profits from the issuance of currency cannot be as large as in the era of the credit standard in later generations.

Even so, seigniorage is an important part of fiscal revenue, and any tobacco and alcohol taxes are weak in comparison, and they cannot be compared with it at all.

The British wanted to establish a "pound gold" system, essentially wanting to collect seigniorage all over the world. Obviously, this needs to be recognized by all countries in the world, and everyone must be willing to use pounds to settle in international trade.

There are only two ways to do this, either to subdue everyone by strong strength, or to get everyone to accept the pound sterling as an international settlement currency through the exchange of interests.

So far, this plan of the British has not been successful, and the Vienna government has adopted the gold standard, and unfortunately the new Holy Roman Empire only recognizes gold in international settlements.

What is pound sterling and can you eat it?

The government of London and Vienna have communicated several times on this issue, but in the end it has been fruitless.

The British wanted to collect seigniorage, and Franz also wanted to collect it! Austria is not yet qualified to collect the world's seigniorage, but in the circle of the Holy Roman Economic League, it can still be collected.

Otherwise, why did the Vienna government take the risk of reforming the gold standard? It is important to know that monetary reform also requires costs and risks.

Judging from the current situation, after the completion of the currency reform, the seigniorage revenue of the Vienna government will account for about 0.5~2 points of GDP.

The data gap is so large, mainly depending on the domestic economic development, the more prosperous the economy, the more currency is in demand in the market, and the more this currency is taxed.

Of course, this is internal, and there must not be so much externally. It is impossible for Franz to ask other countries not to issue currency and to use "Aegis", at most, let everyone use "Aegis" in foreign trade settlements with the new Holy Roman Empire.

This is a long-term work, and everyone will still use gold and silver for a short period of time, and the Aegis is only available within the new Holy Roman Empire.

It is also not so easy to convince everyone to join the "Aegis Gold" system. If there is no visible benefit, why should people pay you this seigniorage?

Once the status of the international currency is determined, the demand for gold reserves will also be reduced, and everyone can rely on the credit of governments to support the value of the currency.

At present, the most mainstream currency is still gold and silver, which is the most widely used hard currency, and the rest of the pound, franc, and Aegis are just ordinary currencies.

The British have already begun to promote the pound, and the promotion of the gold standard reform is the most important part of it, and the pound gold system can only be established if everyone has the same standard.

……

Chancellor of the Exchequer Karl said in high spirits: "Your Majesty, the issuance of Aegis is going well, and now we have sufficient gold and silver reserves in our hands to cope with all fluctuations. ”

Thanks to the gold and silver reset system of various countries in this era, the Austrian government will take out silver in international settlement, and everyone will still be happy to accept it.

It will be difficult to get gold from the market after countries have abandoned the standard system, and it will not be enough to buy all the gold in circulation.

Historically, because of the lack of enough gold in the market, governments that reformed the gold standard had to compromise with the British and accept the pound gold system.

Even some countries have too large a gold gap, and directly use the British pound as the standard of the issued currency, and the value of the currency is directly linked to the British pound, and the reputation of the British people is used to guarantee the value of the new currency.

This is why it is generally believed that the peak of the British was after the Anglo-Boer War. With South African gold, most of the gold in the international market fell under the control of the British, and the hegemony of the British pound as a world currency was truly established.

Franz nodded and said: "Don't take it lightly, continue to strengthen the monitoring of the financial market, and once a large amount of capital outflow is discovered, immediately activate the emergency plan." ”

Although he didn't think that anyone would do anything at this time, the previous actions of the British had already sounded the alarm for Franz, and in order to establish the monetary hegemony of the British pound, who knows if the British would come to do it again.

Consortium Carl replied solemnly: "Your Majesty, please rest assured. We have sent people to keep an eye on foreign consortia that have entered the country, and as soon as they withdraw capital, we will take action.

Their black material has been collected, and when the time comes, it will be enough to temporarily seize their capital, and if the situation is serious, they can be directly sent to the gallows. ”

Who is a capitalist in this era who does not have a black history? Even after entering Austria, these foreign investors have somewhat restrained their behavior, but the bloodshed of capital is still indispensable.

In normal times, in order to develop the domestic economy, the people did not hold officials accountable, and these problems were put on hold, and everyone pretended not to see anything.

Now at a critical moment, once these inconspicuous black histories are poked out, it is enough to make them unable to eat and walk around.

With a criminal record, the capital becomes stolen money, which can be decided whether to be seized or confiscated in accordance with Austrian law.

In any case, as long as there is evidence in hand, no matter how big their origins are, the Vienna government has nothing to fear.

Franz instructed: "Keep an eye on them, if they want to leave at this time, they can send someone to do ideological work for them first, and then use extreme measures if it can't be done."

Pay attention to the evidence in our hands, it must be convincing enough. Even if you want to take action, you can only make an example of the chickens and monkeys, and catch a few serious actions.

We can't turn the other cheek with all the international capital, and we must also pay attention to ways and means when we act, and the government can't go into battle shirtless. ”

There is no need, Franz still doesn't want to turn his face with international capital, this kind of thing is killing chickens and eggs, as long as you do it once, you won't have a chance to do it a second time.

In the future, it will be impossible to issue bonds in the international market or attract foreign investment. Even the normal commercial trade between Austria and the outside world would be attacked by them in retaliation.

At present, the industrialization process of Austria also needs foreign capital to contribute bricks and tiles, and these people are all useful.

If they were strangled all at once, even if the government had a large amount of cash in its hands, there would be no way to achieve the same results.

"Yes, Your Majesty!" Karl replied cautiously