The shift from negotiating a gold exchange bill to a currency circulation bill that no one had discussed was clearly beyond the power given to Wang Jiazhen, the head of the household department, by Guo Yunhou, the head of the household department.

But Wang Jiazhen, who was standing behind him with the figure of Shoufu Huang Liji, decided to take this risk after meeting Zhang Guoji, a wealthy businessman in Shanxi.

In fact, most of the contents of the gold exchange bill had already been formulated by the Cabinet and the Central Bank. The purpose of convening this thematic meeting is simply to formally convey the main content of the bill to the other two banks.

It is precisely because of this that Guo Yunhou, the secretary of the household department, was reluctant to meddle in this formal meeting, so he gave the opportunity to his deputy Wang Jiazhen.

And Wang Jiazhen, who also didn't care much about this meeting, finally became serious about this meeting after meeting Zhang Guoji who came to meet him, and after hearing a suggestion from him.

He believed that if the meeting had been completed in accordance with Zhang Guoji's suggestion, then he would have obtained the power for the household department to contain the currency issuance of the three major banks.

The combined share capital of the three major banks has exceeded 40 million taels of silver, which has exceeded the financial income of Daming in a year, which is really an astonishing wealth.

As an official, Wang Jiazhen does not look at businessmen in his eyes, as long as the court is willing, these businessmen are just pigs and sheep to be slaughtered, no matter how rich they are.

But if it is a business name with a total share capital of more than 40 million taels of silver, let alone him, even the first assistant of the Ming Dynasty does not dare to ignore it.

The power of the Bank of Shanxi and the Bank of Communications has not yet been revealed, but the central bank has already extended its hand to the treasury of the provinces, the various water conservancy and road projects of the Ministry of Industry, the workshops under the name of the Inner Court, and overseas trade.

At present, the share capital of the central bank has increased to 18 million taels, but the value of assets, bonds, and various businesses in hand has exceeded 25 million taels. Moreover, the value of the assets of the central bank is still rising rapidly, and it is expected to exceed 30 million taels in January next year.

It is precisely because of the speed of making money that the central bank can make money, so that the most powerful businessmen in Shanxi and Anhui in the Ming Dynasty will begin to face up to the new business of banking.

Household officials have also shifted their attention from the salt industry to the banking sector, and if we speculate on the development rate of the central bank in the past six months, the annual asset appreciation has reached almost 80%, which is far more than the efficiency of the salt merchants.

Realizing this, almost every household official wanted to get a hand in it. But their unfamiliarity with the way banks operated, and under the strict supervision of the inner court, these ambitious officials eventually became the chickens that Chongzhen killed and set an example for.

After being dealt with by the emperor several middle-level officials in a row, the coveting of the bank by the officials of the household department finally subsided.

However, after getting Zhang Guoji's strategy, Wang Jiazhen felt that he could work hard, if he succeeded, he could not only show his face in front of Chongzhen, but also gain the support of the household officials, after all, he found a new gold mine for his colleagues.

In this renovated flower hall, a group of people sat in front of a long table in the shape of a hollow figure.

Wang Jiazhen glanced at the people sitting in the hall from left to right, and on his left seat were Wang Fengyuan, a representative of the Central Bank, Zhang Xueren and Chang Haochun, representatives of the Shanxi Bank, and Hu Guangyuan, a representative of the Postal Bank of Communications, who is now officially named the Bank of Communications.

On the right seat sat the representatives of the inner court, officials of the Ministry of Household Finance, and Zhang Guoji, a wealthy businessman from Shanxi Province who he had granted permission to observe the meeting.

He lifted his mind a little before he spoke, "It took us half a day on the first day to finalize the provisions of the Gold Exchange Act.

But from the afternoon of the first day, until this morning, it was stuck in this money circulation bill.

The official really wondered what was the difficulty of increasing the proportion of paper money to reserves, since everyone thought that it was necessary to increase the ratio of paper money to reserves, and distribute the subscription quota of paper money issued each year in equal proportion according to the share capital of each bank.

This official sees that everyone should stop arguing, take turns to express their opinions one by one, and then vote, President Wang will start with you. ”

After Wang Fengyuan, who was named by Wang Jiazhen, owed him a debt, he turned his head to look at the faces of several opponents around him, and then said calmly: "Two days ago, several friends in Shanxi, especially that friend Zhang, have made the reason for increasing the number of banknotes printed very clear.

According to this friend Zhang's observations in Yangzhou, Suzhou, Nanjing, Hangzhou and other places, the banknotes issued by the household department will not be exchanged for Kuping silver or silver dollars by merchants.

At least two-thirds of the banknotes will be re-invested in the circulation market by merchants. Therefore, this friend Zhang and several friends from Shanxi believe that as long as they can meet the needs of paper money exchange and ensure the credit of paper money, then each silver can correspond to three times the number of paper money.

In this way, banks can have twice as much liquidity without increasing their share capital, and the annual profits earned by banks will be three times that of what they are now.

I admit that this is a very good proposal, but I am categorically opposed to the distribution of the amount of banknotes subscribed each year according to the proportion of the share capital of each house.

Please think about it, in the past, when the household department was short of money, it would issue a public bond, and the public bond would be mortgaged to the bank, so that the household department could print paper money equivalent to the face value of the public debt and use it to pay the amount payable by the imperial court.

But these banknotes are not real money, but the bank's IOUs to the people, and the people who receive the banknotes go to the bank to exchange silver coins, and what our bank pays is real money.

The public debt is an IOU from the imperial court to the bank, and we can only consider the completion of a transaction if we exchange the public debt from the imperial court for silver taels.

In your opinion, every bank takes the same risk in such a transaction, but I don't see it that way.

Think about it, what kind of bank will those people choose to exchange silver taels after they get the banknotes? It must be the bank closest to you and the most outlets to exchange.

At present, Daming Bank has set up outlets in Beijing and Kowloon provinces, while Shanxi Bank has not yet left Shanxi, and the Bank of Communications and Postal Services has not been officially listed.

In other words, the banknotes subscribed by the three banks will eventually be exchanged at the central bank.

The central bank now accounts for 45 per cent of the total share capital of the three banks, but the exchange of banknotes is likely to be 80 per cent of the total amount of banknotes. The exchange volume of the central bank is not 1:3, but it is quite possible to exceed 1:6.

The risk of using a silver dollar to deal with the exchange of six-dollar bills is too high. Therefore, I ask that, firstly, the number of banknotes subscribed should be distributed according to the proportion of each bank branch; The second is that the two banks must deposit 33% of their share capital with the central bank as a deposit for the exchange of paper money. ”

As soon as Wang Fengyuan's words fell, representatives of Hu Guangyuan, Zhang Xueren, Chang Haochun, and other two banks all spoke out against his statement.

Seeing that the hall was about to become chaotic again, Wang Jiazhen slapped the table hard to silence these somewhat emotional businessmen.

He glanced at Wang Fengyuan and found that the governor of the central bank, the vice chairman of the Financial Management Commission, and the newly promoted Hecheng man had reverted to the old monk who meditated with his eyes closed.

Wang Jiazhen suddenly felt a little headache, he actually felt that what Wang Fengyuan said was quite reasonable, and he was a celebrity around His Majesty, if it wasn't for the current situation, he would really want to show favor to Wang Fengyuan.

But now, he cleared his throat and said, "Next, Hu Geling, tell me why you are against it." ”

Hu Guangyuan hurriedly got up and bowed to Wang Jiazhen, then looked at him and said: "Please be aware that our Communications Postal Bank also has shares in the imperial court.

For the listing of business, a date has been set, which will be on the first day of the next month. As for the business outlets, we have already reported to the Ministry of Households: Huguang, Nanzhili, Fujian, and Zhejiang provinces will be opened before the year, and then expanded to two capitals and 13 provinces next year, and we will never delay time and delay Your Majesty's major affairs.

Although our bank has not yet been formally established, we have signed an agreement on the subscription of public bonds totaling 2.2 million taels for the Jiaoji Railway, Jiaozhou Port, Shandong Coal and Iron Mine, and Iron Smelting Plant.

Therefore, the villain thinks that the two things that the man in Hecheng said, we really can't agree with the Postal Bank of Communications. ”

Wang Jiazhen nodded at him and said, "What you said has some truth, you can sit down, which of you from Shanxi Bank will come out to speak?" ”

Zhang Xueren looked at the two companions who were a little stage frightened beside him, and finally sighed, took the initiative to get up and waved to Wang Jiazhen and said, "The villain also thinks that the request made by the Hecheng man is inappropriate.

We at Shanxi Bank are now planning to increase our share capital, and we will discuss plans to open new branches in various provinces.

But isn't it unfair to pay a deposit to the central bank and subscribe to the number of banknotes according to the number of bank outlets? ”

At the beginning, when he was retained and had to leave halfway, Zhang Xueren was still quite happy, so that after the meeting, it was still very beneficial for the Zhang family in Puzhou to fight for control of Shanxi Bank.

However, at this critical moment of deciding on the distribution of benefits, he realized that Shanxi Bank, which did not have a unified internal understanding, could not compete with the other two banks at all. There are many things that he can't promise, so he can only talk about it.

Now it seems that although they have put forward a proposal to increase the amount of paper money, it is someone else who reaps the fruit.

When the representative of Shanxi Bank, who was not strong enough, sat down, Wang Jiazhen turned his head, looked at the representative of the inner court on his right, and said with a smile on his face: "Princess, what do you think about this matter?" ”

Wang Chengen rubbed a circle of sandalwood beads in his hand, and replied with a smile: "The miscellaneous family brought a pair of ears today, so don't come to embarrass the miscellaneous family." ”