readx; "To solve the problem of funding, the only way to solve the problem is to use unconventional means!" Now that Chen Jingyun has come up with a plan, then the people below will naturally find a way to implement this plan, and there is only one difficulty in implementing this plan, that is, how to solve the problem of funds, Ma Yinchu, who is the chief of the Ministry of Finance, thought about it for a long time before he spoke:

"There may be no problem in issuing treasury bonds to raise hundreds of millions of dollars, but it is impossible to raise more than that, and now those few banks in China are in short supply, and it is impossible to come up with too much money to buy treasury bonds! However, China's treasury bonds have always relied on financial institutions to purchase, and it is difficult for ordinary people to come up with surplus money to buy a large number of treasury bonds! Ma Yinchu said this and looked at Chen Jingyun. Pen? Interesting? Pavilion wWw. ｂiquge。 ｉｎfo

In this case, there is only one way, that is, the central government directly issues additional banknotes, but this will greatly reduce the credit of China's Chinese yuan, which will have a great negative impact on international trade! Moreover, it will also depreciate the currency sharply, and the purchasing power of inflationary residents will also be further reduced! Ma Yin thought about it at first, but he could only think of this way.

After all, if he wants to conjure up so much money out of thin air, he really doesn't know how to solve it except to print money directly.

However, this is only Ma Yinchu's own opinion, but Zhuang Nan, who is also from an economic background, proposed another method: "It is not good to directly issue additional currency, but we can use another alternative method, whether it is possible to issue currency with treasury bonds as a guarantee." This can also ensure the credit of this batch of new currency, although it will also cause a certain decrease in the value of the currency, but it should not be reduced too much! ”

"In addition, China's currency credit process can also be further accelerated, now only the domestic exchange of Chinese dollars for gold, but for foreign banks are not prohibited from exchange, I think it should be possible to ban the export of gold, prohibit any exchange behavior, so as to avoid gold being exchanged in large quantities and affect the value of the currency!"

Zhuang Nan's statement is easy to say, but it is extremely vicious, and the previous monetary creditization implemented by China is one-sided, and the gold standard has not been completely abandoned. Although ordinary people could not exchange Chinese dollars for gold, they could exchange Chinese dollars for gold standard currencies such as US dollars, British pounds, and Chinese yuan, and then exchange gold from foreign banks. Foreign banks can also exchange Chinese dollars directly for gold with the People's Bank of China. After going around this circle, Huayuan can still be exchanged for gold.

If, according to Zhuang Nan, the exchange of gold is stopped both inside and outside the country, although the outflow of gold can be eliminated, it will directly make Huayuan directly abandon the gold standard, which is a very bad start for the international trade system of the gold standard.

However, Chen Jingyun didn't care about these, he had long wanted to give up the gold standard to implement a complete credit currency, so after hearing this method, he immediately nodded: "I think this method can be implemented, and it can be implemented after the specific perfection!" ”

Chen Jingyun said this, basically setting the tone of the meeting, and the next thing to discuss is how to carry out the additional issuance of currency, and then there is a very important topic, even how to spend the billions of yuan.

On January 17, 1930, Chen Jingyun made a nationwide radio speech.

In a teahouse in Guangzhou, Chen Jingyun's strong voice came from a radio rustling: "In order to keep the country's economy developing at a high speed, in order to increase people's income, and to build the country better, the political axe has passed a series of measures. ”

Listening to Chen Jingyun's voice, the dozens of guests in the teahouse all stopped talking and listened carefully to Chen Jingyun's speech, and after more than ten minutes, Chen Jingyun's speech came to an end, but this kind of speech would be repeated almost every two or three hours.

When Chen Jingyun's radio speech spread all over the country, the people almost raced to tell each other, and the low-income people who were plagued by the economic crisis were even more smiling, talking about nothing more than "the chairman is back, as long as the chairman comes back, then he can lead the country to prosperity!" ”

Chen Jingyun's prestige in China is incomparable with the prestige of anyone else or even the entire political axe, if only other people in the political axe publicly declare that China's economy will improve, then they will definitely not believe it, but when Chen Jingyun himself said such a thing, people believe it without reservation.

They believe that Chen Jingyun will lead them to a better future in the same way that he led them to establish a new republic, and that they will lead the people to defeat this economic crisis and bring victory to the country, just as they did when they defeated Soviet Russia and called "Ben."

The propaganda department of the Kuomintang Kuomintang has carried out years of propaganda on Chen Jingyun, which has brought Chen Jingyun unparalleled prestige, and the people have chosen to believe Chen Jingyun almost regardless of other theories.

Just as Chen Jingyun used his personal prestige to build up the people's confidence in economic development, specific measures in terms of political axes were also quickly introduced.

First, the Financial Stability Law was introduced, and a large-scale qualification review of domestic banks was conducted, and then the medium- and large-sized banks that passed the review were notified and given emergency loan support, while other banks with non-performing assets or bankrupt banks that did not pass the review were restructured and rectified in order to restore the public's trust in domestic banks and avoid further runs.

Immediately afterwards, the Ministry of Finance announced the cessation of the exchange of Chinese dollars for gold, the abandonment of the gold standard, and the ban on private ownership of gold and gold bonds, in addition to a ban on the export of gold.

Not long after, the Ministry of Finance announced an additional currency issuance, with government bonds as the guarantee to issue 1.5 billion yuan of Chinese dollar banknotes, and the additional funds will be used for domestic infrastructure construction.

If the abandonment of the gold standard and other measures mentioned above are negative, then the state will invest up to 1.5 billion yuan in the construction of domestic infrastructure, which is very good news for the sluggish domestic economy.

The investment of so much money in infrastructure construction in China represents a large number of jobs, and what it represents is that domestic steel, cement, and chemical products will find a huge market. 、

Almost as soon as the news was announced, the stock prices of construction-related industries such as steel and cement on the Shanghai Stock Exchange immediately began to recover.

China's economic crisis started on the Shanghai Stock Exchange, and now the recovery has also started on the Shanghai Stock Exchange, and the rise in the share prices of the steel, cement and chemical industries has also led to the recovery of stocks in other industries.

And this is not counting, in order to further stimulate the demand of domestic industry, at the request of Chen Jingyun, in the 1930 budget, the military expenditure was temporarily increased by up to 100 million yuan, and together with the original military expenditure, the military has a large amount of funds in its hands. As a result, the Ministry of Armament under the State Military Commission announced that it would carry out a large-scale motorization program for the army, and announced a large number of equipment procurement plans.

These include more than 100,000 military trucks, hundreds of tanks, and numerous large-caliber artillery pieces and other weapons and equipment.

Following the Army, the Air Force also proposed that the Air Force would carry out a new generation of refitting of the aircraft in service, and proposed a plan to purchase 300 F3 fighters and 100 B7 dive bombers.

The navy also responded to this call and put forward the sixth phase of the navy's development plan to purchase a large number of warships, and in order to support other small-scale shipyards in China, this time the procurement was mainly focused on small and medium-sized warships.

I have to say that the Chinese side has to thank this economic crisis, otherwise there would have been the opportunity to purchase so many advanced military equipment.

In any era, the procurement of weapons is not only a matter of the military and those arsenals, whether it is an aircraft or a tank or a warship, behind the stand is the industry of the whole country, to build an aircraft, not only to have the Chuzhou Aircraft Company such a design and assembly enterprise, but also to provide engines from Shanghai Power Company, to provide aluminum alloy from Jiangyu Mining, to provide alloy from Iron and Steel Company, to provide radio equipment from Fule Electric, and to provide rubber tires from Wuhu Chemical. This is an integrated project involving almost all industrial sectors in China, and this aircraft of up to tens of thousands of yuan will be able to bring orders to many enterprises.

This is true for airplanes, as well as for tanks, and not to mention the battleships that represent the highest military-industrial achievements of a country, to build a battleship, almost all branches of industry in the country need to fight for it.

Large-scale arms expansion is one of the most effective and time-consuming ways to boost the economy, something that Chen Jingyun did once during the post-war economic crisis around 1921, and he plans to do it again.

Compared with the large-scale expansion of armaments, the impact of infrastructure construction, which costs more than one billion yuan, is even greater. After all, the military industry is a high-tech industry for the entire country's industrial system, and it is driven by some high-tech enterprises. However, large-scale infrastructure construction is more able to bring employment opportunities and income to low-income people, and has a greater effect on stimulating domestic demand.

In February, the Ministry of Communications announced its intention to extend the Longhai Railway, build it from Lanzhou to Ili, and then cross the Alashan Pass into the territory of the Russian Republic. It was also announced that the plan to start the railway into Sichuan was launched, and the construction plan began in Wuhan, entered Yucheng after passing through Ankang, and then extended to Chengdu. In addition, plans for a number of railway branch lines were announced, including Nanchang to Fuzhou, Zhuzhou to Nanning, and Guangzhou to Nanning. Then a large number of feeder railways in the eastern provinces were built.

In addition to the existing industrial development funds, some of the funds required for these railways are temporary investments.

In addition to the railway, it is also preparing to build high-grade highways in the prosperous areas of the east, and this highway construction plan is mainly concentrated in the Yangtze River Delta, an economic powerhouse, and only this area has a large number of cars, otherwise other areas will not be able to use the roads.

In addition to transportation, the Ministry of Agriculture and Forestry has announced the construction of a large number of water conservancy facilities, including several large hydropower stations.

Almost overnight, the whole of China is building a large number of buildings, almost every city is carrying out a variety of construction, steel and cement in the long time of the production capacity is instantly consumed, and there is even a situation of short supply, which also drives the development of chemical, textile, and other industries.

In order to stimulate domestic demand, the political axe has been saddled with a debt of up to more than one billion yuan, but this debt in exchange for China has been freed from the impact of the global economic crisis, when other countries are still mired in the economic crisis and cannot extricate themselves, China has not only got rid of the impact of the economic crisis, but even re-emerged a trend of rapid growth, which made many economists drop their jaws!