"In terms of trade. Gold and silver are the main currencies. And copper coins are only circulating currency. There is a certain difference. However, if we use paper money, it may have a great disadvantage on our trade. I don't agree with this all of a sudden. Wang Ming said.

"Hmm. But if we don't, our economy will be under great threat. The first is the red ticket, which, as we all know, is backed by the issuance of bonds. It is also the help of this war that has allowed us to solve many problems, but at the same time, we are also facing another problem, which is that our demand for copper coins will become very large, and the economy of the base area will also be built. And bonds and salaries for our army. The treatment of military personnel has a lot to do with it. What would happen if the bonds built on bonds were broken to the greatest extent possible? Shang Wu asked.

"The base area will be destroyed. Probably we are going to face the worst. Jia Xu said. Wang Ming thought about it and nodded. They don't know much about consuls like Chen Xiaobing. This has a lot to do with them. Faced with such a situation, it will be difficult for them to continue.

"That's what we're going to be facing, if we can't keep the bonds running, we're going to collapse completely, and if we can keep them going, the bonds will extend to more bonds, like black commercial land bonds, and the value of the bonds will go up a little bit." Shang Wu said.

"The circulation of the base area also requires a large amount of money to circulate, but a bond is a bond after all, it is not currency, it does not have the value of money. About. Some of the other points that Minister Wang made that I think we can address in other ways. Shang Wu thought for a moment and said.

Bonds are bonds, money is money, and paper money has a great advantage, and an important advantage is that it can be increased according to people's needs, which cannot be compared with gold and silver currency. Of course. The implementation of paper money is also a more complex process. But within the base, the republican junta has great prestige. It doesn't seem to be a difficult thing to do to promote paper money, the most difficult thing to do is trade. If a large number of banknotes are issued, they will not be accepted, which means that paper money will not be able to carry out a larger trade. So, on the issue of trade, Shangwu also had to make some compromises, and this compromise was that metal money had to be used.

"For trade, I have a new idea, we can issue gold and silver coins. The ratio of gold and silver coins is one to nine. That is, a gold coin, one cent of silver, nine cents of gold. One silver coin, nine cents silver, one cent copper. Shang Wu said.

"That's the case. This reduces the use of copper coins, and the use of gold and silver coins allows us to do things in trade. Shang Wu said.

"Hmm. There is one more issue that we need to pay attention to. Wang Ming raised his hand at this time and said.

"Tell me about it." Shangwu did not object to Wang Ming's opinions, it was really because there was a problem, so he had to put forward his opinions, otherwise, many things would become difficult to solve. Shang Wu agreed with the question.

"That is, the commodity trade, the large amount of grain that needs to be imported in the base area at present, and the main purpose of this grain is to exchange for arms, in this case, a large amount of grain actually replaces a certain amount of gold and silver currency, and we have not also noticed such a problem. In other words, we have to establish regular industry prices for many commodities as soon as possible, just like the stock exchange center, so that we can make our situation better. Wang Ming said.

"Hmm. OK. It seems that it is necessary to establish spot trading, as well as futures trading. But in contrast, I think we should set up futures trading. That is to say, in the coming period, we must have a market expectation, which is mainly provided in the large-scale supply of raw materials, and the accumulation of grain production in the base areas is too limited. This will have a great impact on the security of the base areas, and in such a situation, our situation will be very disadvantageous. Therefore, we also need to raise the purchase price on a large scale, so that our supplies become abundant. Shang Wu said.

"However, for such a thing, we must establish a formal trading platform, and we must have a great influence on the bargaining power of the entire market. Otherwise, if we let those Luoyang merchants do it, it will have a great impact on our economic interests. This can be extremely detrimental to us. Wang Ming said.

"That's right." Shang Wu said. Wang Ming's thoughts and Shang Wu thought of going together. The situation in the base areas is relatively clear, because of the end of a big war and the attrition of the war, the problem of grain reserves in the base areas has always been an important factor that has plagued the development of the base areas, and the size of the army has suddenly expanded, and the demand for grain will become urgent. But to wage a large-scale war, it would take at least five years of grain accumulation for them to complete such a stabilization of the food situation.

"Our factories also require a lot of raw materials. Sulfur, saltpeter, these things we still need to import on a large scale. In addition to this, there are copper mines, iron ores. We also need to import all of this, and we need to build a large market trading center to complete our work on strategic material reserves through such transactions. Shang Wu said.

Said the factory. Sir, I think there's one more thing we need to be aware of. Wang Ming said. Chen Xiaobing, who was sitting not far away, was a little annoyed. Because Wang Ming kept asking questions, and Shang Wu kept answering, he also wanted to ask questions, but for these topics. He couldn't say a single one, he didn't know what he was going to say. And he couldn't understand the conversation between the chief and Minister Wang, and he felt that he had some failures.

"What's the matter?" Shangwu asked.

"Investment and construction, at present, the military factory is temporarily divided into three factories, Lijiazhuang, Handan, and Taihang, but that is being built. But these military factories need a lot of money, although the palace has solved part of the funds, but this part of the funds is for us. There is still no turnover, and the bank also needs some funds to turnover, in this case, the problem will become very big, how to get more funds. This is going to be a very difficult problem. Wang Ming said. Jia Xu nodded when he heard this. He agreed with some of Wang Ming's views, and it was obvious that Wang Ming was a good minister of economy, and he was very keenly aware of some special conditions. Investment, indeed, the current expansion of the scale of military factories does require a lot of capital, but how can this capital be solved. The government doesn't have that much money. On top of that, in other ways, they need more and more money to solve such a dilemma.

"It seems that we can only sell some of our shares on the stock exchange. To attract those investments, the three military factories were all dismantled and separated. Separate issuance of shares. The same is true on the banking side. Shang Wu said. This is the best thing that Sangwu can sell at the moment. Something like that, for them. This will be a major interest challenge.

"What do you think?" Shang Wu asked everyone.

"That's all I have to do." Wang Ming nodded and didn't ask any more questions. Chen Xiaobing was at a loss, he didn't know what to say. He could only nod blankly in agreement. Jia Xu also nodded. He recorded many, many things. There are a lot of problems, but it's enough for them to solve them.

"It seems that this is the only way to go. Well, let's sum it up, that is, we want to establish two trading centers, one is futures, to solve the problem of our commodity imports. We need to get pricing power, and the other problem is the securities trading center, and the securities trading center has two tasks, one is bonds, and we have to recover a part of the bonds. Keeping our bonds on a high platform, so that we can recycle them little by little, and keep the interests of our soldiers and the people, which is the credibility of the government, although it is very difficult, but this is what we have to do. Shang Wu said.

"The other point is stocks. This is an important way to attract investment, to promote the stock thing, so that everybody can buy the stock, so that the stock can attract a lot of money and make our situation a little better. That's what we're going to do right now, and it's what is best for us. We have to do this kind of thing well. Shang Wu said.

"We get that." Jia Xu nodded, and Wang Ming also nodded.

"In this way, we have formed two centers, and we have basically formed a layout in terms of finance." Shang Wu said. When everyone is gone. Jia Xu dragged Shang Wu.

"Is this note going to the bank to issue it?" Jia Xu asked.

"Yes, it should be handed over to them for distribution." Shang Wu nodded and said.

"If that's the case, whether it's the relationship between the land bonds and the currency should also be dealt with. In this way, there will not be a lot of confusion, and if you can't handle such a relationship, you will basically end up with a lot of trouble. For us, this is a disaster. Jia Xu said to Shangwu.