readx; Now China's raw silk industry after several years of integration, has formed a centralized industry with five textile enterprises as the core, and there is a lot of competition in the process of continuous integration, since it is necessary to compete with the "Bunsen silk enterprises, but also to compete with other domestic textile enterprises, the most direct means of competition is the price war, and the price war is to make the five major textile enterprises suffer heavy losses, even though these textile enterprises have the financial support of banks and money banks, For example, the giant Fuhang textile has the direct support of the Southeast Bank, but due to the heavy losses, the five major textile enterprises are also unsustainable, among which the weakest capital Nantong textile company has been insolvent two months ago, Nantong textile company is a textile giant integrated by many silk reeling merchants in northern and southern Jiangsu, although ranked last among the five major textile companies, but also has tens of millions of assets. Pen, fun, pavilion www. biquge。 info

Behind Nantong Textile Company is also a bank with a similar surname as Southeast Bank, that is, Nanhe Bank. Then the long-term loss of Nantong Textile Company caused Nanhe Bank to be nervous, and I don't know how to reveal the news that caused depositors to be nervous and all came to withdraw money together, which forced Nanhe Bank to a dead end.

When the national army vigorously attacked Qingdao, several major shareholders of Nanhe Bank committed suicide one after another, and soon Nanhe Bank was declared bankrupt, after the bankruptcy of Nanhe Bank, Nantong Textile Company lost the most important financial support, on the one hand, it had to compete with several large textile enterprises, and soon faced a bankrupt situation.

As a textile enterprise that controls some raw silk channels in northern Jiangsu and Anhui, Nantong Textile Company, as one of the five largest textile enterprises in China, still has a significant influence on the domestic raw silk industry although it ranks last, and is related to the vitality of many workers and more silkworm farmers.

In order to keep the factory running, to pay tens of thousands of cooperative silkworm farmers, and to pay the wages of the workers in the silk reeling factory, the Nantong Textile Company had to undergo a reorganization in order to obtain funds. Since the required funds are calculated in the tens of millions, only a few large domestic banks and some foreign banks can participate. After fierce competition, a textile company in this company successfully bid for the acquisition of all the shares of Nantong Textile Company at a price of only two million yuan. On the surface, it is inconceivable that Nantong textile enterprises with assets of up to tens of millions of yuan were acquired all the shares by two million yuan, but in fact, the acquisition clause requires the two million yuan of investors to only represent the price of the shares, and the bigger one is that after holding Nantong Textile Company, it is necessary to fully bear all the debts of Nantong Textile, including the huge amount owed to silkworm farmers as much as 13 million, as well as the wages of those workers in the various factories to which more than 2 million belong to it. All the debts add up to more than 17 million, if you add the two million share purchase price, then the Nantong textile company needs to spend at least 20 million yuan, and this is only the purchase price, to let the Nantong textile company continue to operate normally, the funds required are also calculated in tens of millions.

Due to the huge amount of funds required, and the other four major domestic textile enterprises at that time, although they also had the intention to acquire Nantong Textile Company, but their own financial situation is not too good, the major banks behind it are also very difficult to come up with these tens of millions at once, plus there are several consortiums in the United States and the United States to compete, so after fierce competition, it was successfully acquired by a consortium.

Although the Nanjing Republican Government pursued a policy of freedom of capital, it still maintained the means of administrative intervention in the large-scale acquisition of domestic enterprises by foreign capital, and Hong Zitai of the Ministry of Industry and Commerce vetoed the acquisition on the grounds of protecting the country's textile industry.

This move also aroused opposition from the Yue side, and even aroused the opposition of a group of high-ranking officials such as Zheng Zuyin, who believed that this move hindered the policy of freedom of capital in the Nanjing Republic.

After the acquisition was rejected, the Nantong Textile Company itself had no funds to maintain normal operation, and for the livelihood of tens of thousands of silkworm farmers, for the livelihood of nearly 10,000 workers' families, the Ministry of Industry and Commerce could not be indifferent after vetoing the acquisition, Hong Zitai personally contacted the three major banks in China are Huaxia Bank, Southeast Bank and Bank of Communications. Attempts were made to persuade the three banks to lend to the Nantong textile company, but unfortunately the results were not very good.

Bank of Communications, one of the predecessors of this bank is Daqing Bank, that is, the Bank of China during the Beiyang political axe, and one of the two central banks of the Beiyang political axe, and there is another central bank under the Beiyang political axe, that is, the Bank of Communications. After the defeat of these two banks in Beiyang, the official shares controlled by the Beiyang political axe naturally fell into the hands of the Nanjing Republican political axe, because the two banks at that time in order to advance the military expenses of the Beiyang political axe have a lot of bad debts, and the management structure is also very flawed, so the Ministry of Finance decided to merge the two banks. After the merger, it was renamed Bank of Communications, with total assets of 50 million. As a result of the loss of the status of the central bank, the business of issuing state bonds and currency was also lost, and it became a pure commercial bank like the Southeast Bank.

However, although the Ministry of Finance has 30 percent of the shares of the Bank of Communications, but this is a commercial bank in the end, and the capital is insufficient, it is obviously not what they want to take out 20 million yuan to maintain a textile enterprise that is still in the loss, so for the sake of capital operation, the Bank of Communications is to refuse to acquire the Nantong Textile Company.

And the Southeast Bank, for them the banking industry is only a subsidiary business, the biggest task of the Southeast Bank is to provide funds and financing for the Fuhang Textile Company, if you want the Southeast Bank to acquire the Nantong Textile Company, then the Nantong Textile Company will have to be completely merged into the Fuhang Textile Company, and this is unacceptable for the Nantong Textile Company, although they have become insolvent, but it is still one of the five major textile enterprises in China, and it is never allowed to be swallowed up by competitors.

As for Huaxia Bank, although it is a private bank, it has always played the role of a central bank in the national army system, and Huaxia Bank's assets are also the largest in China, controlling the vast majority of heavy industry enterprises in China, including all military enterprises, and even Chen Jingyun himself is not clear about the fixed assets. Huaxia Bank has issued billions of Chinese dollar banknotes based on a large number of foreign exchange such as yuan, US dollars, and pounds, as well as many gold, silver and precious metals, because Huayuan banknotes have been prescribed as legal tender, and the political axe revenue and expenditure is used as a means of promotion, almost has been circulated on a large scale in the control area of the national army, and the people or enterprises can only use the gold and silver in their hands to exchange for paper money in Huaxia Bank in order to pay taxes to the political axe, so that the efficiency of Huaxia Bank to collect gold, silver and precious metals is greatly improved.

In order to stabilize the exchange rate of the Chinese dollar, China began to implement a foreign exchange system linked to the US dollar, based on the exchange rate of one US dollar for two Chinese dollars, and the exchange rate of other foreign currencies refers to the US dollar exchange rate. The U.S. dollar is based on the gold standard system, so to a certain extent, the Chinese dollar is the indirect gold standard, the reason for the implementation of the U.S. dollar linked system, is because the tension in Europe began, the gold price began to rise, the price of gold rose so the price of silver naturally fell, and after the outbreak of war in Europe, the price of silver in the international market plummeted rapidly, for the Chinese dollar banknotes issued on the silver standard before, this is not good news, because China to the United States, said, when importing machinery and equipment, you need to pay more silver, Although the depreciation of silver prices has led to an increase in exports, in fact, China's benefits are not large, because China's exports are agricultural products such as raw materials, not a large number of high value-added industrial products, China's export commodities such as ceramics, tea, and raw silk are all traditional characteristic products, and can even be said to be just surnamed exports, and will not increase the total export volume because the price is lower. As a result, for China's import and export trade as a whole, the collapse of silver prices means that China needs to pay more agricultural products in exchange for enough foreign exchange to buy foreign machinery and equipment.

Now China's import and export trade is essentially to export agricultural products and import industrial products, and now China is at a time when it needs a large amount of foreign exchange to purchase foreign industrial products, so once the price of gold and silver plummets, then the scissors gap formed is unacceptable to China. Therefore, as soon as the war broke out in Europe, the Ministry of Finance had ordered that all import and export trade should be settled in gold, that is, the domestic and international silver trade should be stopped.

On the other hand, the Ministry of Finance announced that the Chinese dollar would be pegged to the US dollar, and that it would set a fixed exchange rate of two Chinese dollars to one US dollar by comparing the old exchange rate, and that the exchange rates of other foreign currencies and silver would all refer to the US dollar exchange rate, that is, the indirect gold standard would be implemented.

After the implementation of so many policies, it was possible to avoid a large loss of Chinese companies when importing machinery and equipment from the United States and other countries due to the collapse of silver prices.

On the one hand, Huaxia Bank plays the role of the central bank for currency issuance, and on the other hand, Huaxia Bank has also provided a large amount of funds for many heavy industries and military industries in China, and the Southeast Iron and Steel Company alone, Huaxia Bank has already provided it with a capital increase of no less than 20 million yuan this year, otherwise Southeast Iron and Steel would not have the money to cooperate with the American Bethlehem Iron and Steel Company in the development of the Ma'anshan Iron Mine and the construction of the Wuhu Iron and Steel Plant.

Huaxia Bank, which takes the development of China's industry and commerce as its own responsibility, chooses to invest, most of them are invested in projects related to national defense and people's livelihood, and for ordinary investment, it is no longer involved, such as the textile industry, which has slowly narrowed the holding ratio from Fuhang Textile Company, and now only wholly owns a Fuding Textile Company, but Fuding Textile Company is not only the first industry of the Chen family, but more importantly, because Fuding Textile Company is not involved in the raw silk industry, but cotton yarn textile and garments. And it is not mainly for the civilian market, its largest business is to provide the military with military uniforms, ordnance, quilts and other textiles. Strictly speaking, the current Fuding Textile Company is also a military enterprise.

Therefore, Huaxia Bank is not without money, but it is basically impossible for it to take out tens of millions to invest in a Nantong textile company.