"The two...... Can you negotiate it? ”

When he saw Huang Jiang and Su Sheng, the two profiteer counts, Wu Sangui actually had a feeling of being careful and his throat was raised.

This is really ridiculous, Wu Sangui! The big warlord who holds a heavy army, divides the northwest, and stomps his feet and trembles the whole of Shaanxi, or the uncle of the Ming Dynasty! Such a powerful figure would be in awe of two profiteer bankers......

Wu Sangui also knew that such a thing was ridiculous, but he just didn't have enough confidence now!

He vaguely felt that the two people in front of him could never be offended...... Because these two profiteers want to bring him down Wu Sangui, it is so easy!

"That's it." Su Sheng smiled kindly, looking neither treacherous nor vicious, he was completely a good businessman based on integrity.

Su Sheng continued: "The Maritime and Salt Merchant Houses helped Guogong's feudal towns issue 3 million taels of feudal debt bills to exchange for the old debts owed by Guogong before...... The coupon is 6 cents per year, and the interest is paid on August 15 every year, and on the day of the removal of the feudal town, the imperial court is responsible for paying the principal and the interest of the last year. ”

"Great Loyal Merchant" Huang Jiang said with a smile: "Grandpa, as long as your feudal town is not eliminated for a day, the principal of the 3 million taels of feudal debts does not have to be repaid." However, the interest of 180,000 taels still has to be paid annually......"

"But there are no 180,000 taels......" Wu Sangui shook his head and spread his hands, "There is no money!" ”

"No, just borrow more!" Su Sheng smiled, "Continue to issue bond bills and borrow money to pay interest...... This matter is covered by the maritime and salt merchants. ”

Huang Jiang continued Su Sheng's words and said, "Grandpa, as long as you sign a contract and entrust the issuance of feudal bonds to the Haishang Bank and the Yanshang Bank, we can continue to issue bonds and borrow money for you."

Of course, the interest rate on the new debt will definitely be a little higher...... It is impossible to have an annual interest rate of six cents, and it is more appropriate to go up or down tenths. ”

In fact, whether this carte carte deed was signed or not, Wu Sangui could not find a third financial institution that could underwrite the debts.

And now only these two major banks can give a certain amount of liquidity to the feudal debts, if the feudal debts are not negotiable, they cannot borrow 10% of the annual interest. The annual rate of thirty or forty percent in these years is sparse and ordinary, and it is not usury at all.

......

After the autumn grain of the first year of Hongxing went on the market, he had been living in Yao Daqiao on Yaojiazhai Street in Hankou City, and as usual, after breakfast, he called two family members, took his own bookkeeper and master, went out of the house, and went to the Mishi teahouse only two or three miles away from the house.

The rice market teahouse is naturally the largest rice grain trading market in the Huguang area, a tea house on the edge of the rice market on Hanzheng Street, with a brick and wood structure, eight bays, three floors high, decent and magnificent. The first floor is the lobby, and the second and third floors are private rooms. Because it is close to the rice market on Hanzheng Street and the Wuhan branch of Yanshang Bank and the Wuhan branch of Haishang Bank, it has become a place for Hankou's rice and money merchants to meet every day to discuss business, discuss the market and reach transactions.

The Hanzheng Street Rice Market is on the right side of the Rice Market Tea House, covering a vast area, stretching from Hanzheng Street to the Hanzheng Rice Wharf. This rice market is invested and built by the Royal Chamber of Commerce, and half of the land rent rice and ransom rice collected by the Juntun Division in Huguang will be sold (auctioned) here publicly - the Juntun land rent rice and the ransom rice together have more than 50 million stones, which is the main source of income for the Ming Dynasty today. However, the Ming court spent a lot of money, so it had to sell about half of the rice grain.

Selling rice is a troublesome matter, otherwise Zhang Juzheng would not have used silver to replace various taxes in kind when he carried out a whip law reform during the Wanli period.

However, the problem of paying taxes on silver is not small, one is that the development of various places in the Ming Dynasty is extremely unbalanced, the south is rich and has more silver (the silver flowing into the Age of Discovery is in southern China), the north has less silver, and the northwest is poor in silver. The one-size-fits-all payment of silver has actually increased the burden on the poor silver areas in the northwest, and at the same time reduced the burden on the rich silver areas in the southeast - this is equivalent to reducing taxes for Jiangnan, Huguang, Sichuan, Fujian and Guangdong, which are so rich, and increasing taxes on Shaanxi, Gansu, which are bitter and haha! Later, it caught up with the Xiaoice River period, and the people of Shaanxi were still waiting to starve to death?

The second problem is the "price revolution", because there is too much silver flowing in, and the purchasing power of silver is declining. Therefore, the total amount of tax revenue received by the Ming court is actually declining.

Moreover, after the rise of the Later Jin, Liaodong's military expenditure became a bottomless pit. Therefore, the place where the Ming court spent money was in the area of Beizhili and Liaoxi (in fact, an economic circle), and there were not many industries in this area, and even the most basic agricultural products could not be self-sufficient, and had to be transported through high-cost transportation. So it also formed a price highland. The value of the silver received by the Ming court in Beizhili and Liaoxi was severely discounted.

Therefore, this Liaoshui water is spent like water, but there is no effect......

Of course, Zhu Cihong knew about the "price revolution", so he would not fall into the big pit of "fixed money rent". However, he also doesn't collect a mess of miscellaneous items, which is difficult to monetize. At present, the land rent, ransom fee, and land tax to be resumed are all paid in the form of rice and wheat (which will be converted into rice and flour when the accounts are kept).

In order to facilitate the preservation and sale of rice and wheat, the Ming court built super-large-scale grain depots in Wuhan and Nanjing, while Zhu Cihong used the money of the Royal Chamber of Commerce to invest in the construction of the Hanzheng Street Rice Market and the Longjiangkou Rice Market.

In addition, Emperor Zhu also instructed the two major banks to provide all necessary financial support for the transactions in the Hanzheng Street Rice Market and the Longjiangkou Rice Market.

Therefore, the area around the rice market in Hanzheng Street has not only developed into the center of Huguang rice trading, but also become a financial center in Huguang.

In this eight-bay rice market teahouse, not only the prices of rice and wheat are discussed, but also the exchange rates of gold, silver, and money, as well as the interest rates of loans.

Since the end of August, a new trading variety has become one of the focus of discussion in the tea house on Mishi Street.

This new trading product is the feudal bond, a tradable bond issued by the feudal town!

Although it has not been officially released yet, it is already a bit of a hot topic, at least a hot topic.

Yao Daqiao, who has always been sensitive to the smell of money, of course, also noticed the huge benefits hidden in the feudal debts for the first time.

"Did you hear that? The imperial court has already promised to cover the debts of the feudal domain! ”

"How is that possible? With millions of debts, can Emperor Hongxing carry this pot? ”

"Hehe, you can't go wrong...... Emperor Hongxing relented and promised that when the feudal towns were removed in the future, the imperial court would take over the feudal debts in full! ”

"When the feud is withdrawn? Can those feudal lords agree? If you really want to withdraw, you still have to fight? ”

"Why didn't the feudal lord agree? Now the court doesn't agree......"

"And this kind of thing? And the imperial court doesn't want to withdraw the feudal domain?

"Can't be wrong, I have news ......"

"When will the feudal domain be removed?"

"I don't know...... Maybe it will never be withdrawn, maybe after three or five years, the emperor will change his mind and withdraw...... But this debt is finally covered by someone! Those old Western profiteers have earned it! ”

"Earn? Hehe, it's just a loss...... Now that the imperial court has the backing, the interest on the feudal debt can be redetermined. It is impossible to have a monthly interest of three cents, and it is said that the old debt can only have half a cent of monthly interest, and the principal can only be paid after the feudal domain is about to be withdrawn. How much can such a debt bill be worth to Hanzheng Street? I'm afraid I have to discount it, right?

Is it possible to discount in half? Yao Daqiao did not participate in the discussion, but silently calculated in his heart the value of these feudal debts that could only be fully cashed in the future when the feudal domain was withdrawn.

If there is no guarantee of "withdrawing the feudal domain", no one will necessarily want a discount on the feudal debt.

But with this guarantee, the feudal debt has value...... But the value depends on when the feudal domain will be withdrawn? If the feudal bonds can be withdrawn after five years, then the yield of the discounted feudal bonds will be equivalent to about three cents of monthly interest, and it should be able to eat.

If the day of the withdrawal of the feudal domain is far away, it will be difficult to say......