. February 25, 1928. Today, the Chinese Consulate General in New York is visiting in the living room of the distinguished guests.

Luo Yaoguo never thought that little John, who had not responded to his request for a visit during this time. Ponel Pete. Morgan, who would come to meet him in person, was a little flattered. You must know that this very kind old Jewish man controls more than ten times more wealth than China's current GDP, uh, the capitalism of this era is really reactionary, how can one person's money be so much

In front of this old man who has a lot of money and can drown China, and has the title of "the world's creditor". Even the characters who tremble when they stomp their feet in China are sitting respectfully on the side like elementary school students at this time, and they don't even dare to come out of the atmosphere. Only Luo Yaoguo, who is accustomed to seeing big scenes and dares to call the "Führer" a brother, still maintains a leisurely and complacent bearing, sitting face-to-face with Mr. Morgan with a smile on his face.

Although he can still calm down on the surface, Luo Yaoguo's heart is a little up and down at the moment. To be honest, he couldn't guess the purpose of this Morgan's sudden visit, uh, no matter how you look at it, it looks like a weasel giving a New Year's greeting to a chicken, the only thing to be thankful for is that this chicken is still skinny and has no meat, and it is estimated that this Morgan weasel is not eye-catching.

At this time, a few cups of hot fragrant coffee were also brought up by Natalie and Qu Ying, who were guest attendants of the Consulate General, and placed in front of everyone in the living room. Mr. Morgan picked up the coffee, took a sip of it, and smiled, "Well, the coffee is still good, and it tastes like it's made in Brazil." My father once made a windfall on a Brazilian coffee deal when he was younger, and our family has been in love with Brazilian coffee ever since. That time, he stumbled upon a chance to buy a boatload of coffee for half the price, but it could have been a scam. My father, John Sr. Ponel Pete. Morgan made the decision to buy based on his judgment of the seller's character. Luckily, my father learned from this that doing business is first about judging whether a person is reliable, and then about whether a business is reliable. ”

Morgan's words seemed to be true, but to Luo Yaoguo's ears, it seemed to mean something. Luo Yaoguo also took a sip of the coffee cup in front of him, frowned slightly, and seemed to be considering the words: "Mr. Morgan, do you think I am unreliable?" Can you become a business partner of the Morgan family? ”

"Partner?" Morgan repeated the word in a low voice, then took another sip of coffee: "I want to hear your thoughts, and then judge whether you can be reliable and whether you can cooperate." ”

Looking at Morgan's smiling face like a spring breeze, Luo Yaoguo also hurriedly took out the most sincere smile, a smiling face seemed to be necessary for walking the rivers and lakes, for which he had practiced hard for a long time with the help of Natalie.

"Mr. Morgan, you also know that we in China are developing at an extraordinary pace. This is also due to the current boom in the international market, especially the boom in the US economy. Huge amounts of capital and technology have been transferred from Europe and the United States to low-cost, resource-rich China. This kind of thing has also happened to you in the United States in the last century, and it seems that every late-developing country has to go through it. It's just that...... This booming international economy may not seem to me to be the long-term 'prosperity of the new century' as President Coolidge claimed. Perhaps it was just another bubble of capitalism, and it would soon burst. China's rapid growth may also be hit hard by this, and my idea is to save enough cash before the bubble bursts so that the Chinese economy does not collapse at that time, and that's it. ”

Luo Yaoguo has never said this to others, so Song Ziwen and Kong Xiangxi, the two gods of wealth, have heard of it for the first time. The faces of the two turned white with a brush, and Luo Yaoguo's eyes were also "strongly condemned". Well, it's not polite to say that the U.S. economy is a bubble in front of Wall Street gods, and it's nonsense no matter how you hear it.

Morgan's smile was still the same, and he nodded slightly: "You are very honest in front of me, just...... Now that you see the problems of the U.S. economy, do you have any thoughts of taking advantage of this rare opportunity to take a break? Maybe you can make enough money to industrialize China all at once. ”

"Nope." Luo Yaoguo did not hesitate at all, and gave a negative answer.

"Why?" Morgan asked again.

Luo Yaoguo said with a smile: "With all due respect, Wall Street seems to me to be a big casino in the world. And you, Mr. Mellon, and Mr. Rockefeller are the owners of this casino, and all the rules of the game and winning or losing are the will of the three of you. And I'm ...... If I want to play, I will build a casino in China by myself, I will be the boss, I will set the rules, I will decide whether I win or lose. ”

Morgan laughed and gave Luo Yaoguo a thumbs up: "Good young man, you really have extraordinary insights." You have a point, but you're not entirely right. In fact, this casino includes not only Wall Street, but also the whole world, no matter where you open a casino, "the ultimate winner or loser is determined by Wall Street"

Luo Yaoguo waved his hand and said with a serious face: "Mr. Morgan, what you said is not right. Wall Street can't control the world now, because there's a place in this world called the Union of Soviet Socialist Republics, and the boss there's Joseph. Stalin. He and his Bolshevik Party set up a completely different set of rules of the game, and the Wall Street set didn't work for them. In fact, there are some remote areas in my country that are controlled by GCD people, and they are not under your control. If...... If most of the China we control goes bankrupt in the next capitalist crisis, I'm afraid that the whole of China will also be swept away by the ** led by the GCD people, right? At that time, Wall Street's territory will be reduced by a large chunk. So, I hope you, the 'casino owner', can help us cheat and get through this well. ”

As soon as these words came out, the room was silent. Song Ziwen and Kong Xiangxi's mouths were wide open, staring at Luo Yaoguo, who was "full of nonsense". At the door of the living room, the little beauty Qu Ying's head poked in at some point, but she couldn't understand what was being said inside, she just tried to remember, and she didn't make a sound.

I don't know how long it took before I heard Mr. Morgan put down the coffee cup in his hand and said with a smile: "Let China pass this hurdle safely, in fact...... It's also possible. In this current bureau, there is no one for you. It's just that...... Do you know what to do?"

Luo Yaoguo took a deep breath, his heart was still full of uneasiness, and he didn't know if this Morgan in front of him really planned to let China go. He slowly turned the coffee cup in his hand a few times, and replied thoughtfully: "At present, our plan is to reserve some foreign exchange funds. I estimate that when the crisis does erupt, the capital that is pouring in now will be quickly withdrawn, and our foreign exchange reserves may be difficult to cope with, and our domestic liquidity will be insufficient. I would like to use the long-term foreign exchange loan to offset the adverse impact of the withdrawal of this part of the funds, and in addition...... We can also sustain domestic demand through large-scale government investment, after all, China is still very backward, and there are too many places to invest in construction. ”

Morgan nodded and looked at Luo Yaoguo with a smile: "This can indeed slow down the impact, but it is still not enough, your banking system is fragile, the monetary base is also very weak, and the entire economic growth is completely driven by foreign capital." The common people are also poor, and the domestic consumer market is actually based on large-scale investment. If foreign capital is withdrawn, it may only leave a bunch of unbuilt factories, and a considerable part of these factories will need to use large amounts of foreign exchange funds to purchase equipment and technology if they are to be built. So foreign exchange reserves were extremely precious to China after the outbreak of the crisis, but your current foreign exchange management is ...... It's almost blank. In addition, a healthy banking system is very important to survive the crisis, especially the big banks, which are the lifeblood of the economy, and you don't seem to be prepared for how to protect the banking sector. If China's banks fail at that time, I'm afraid your economy will collapse immediately. At that time, the hard-earned money of us American investors will be wasted. ”

"Foreign Exchange Management...... Bank Supervision ......" Luo Yaoguo gently read out two terms in the memory of later generations. However, he didn't know how to do it, and I'm afraid he would have to discuss this with the experts.

"The bank's business...... It's easier to do, after all, your big banks seem to have government shares, but I'm afraid the foreign exchange matter will have to be discussed. Mr. Morgan's tone was still relaxed and happy, and after saying this, he looked at Luo Yaoguo, Song Ziwen, and Kong Xiangxi with a smile.

Luo Yaoguo thought about it for a while, and then found some foreign exchange control policies adopted by some countries in later generations from his memory. Of course, this is also a stopgap measure, and the impact on the current economy is quite severe. However, in order to avoid greater harm, I am afraid that it will have to be implemented. It's just that...... Will the bigwigs within the KMT approve of it?

"Okay, that's all for today's meeting, there's a lot of work to be done on Wall Street." At this time, Morgan stood up and was about to say goodbye, but before leaving, he made another promise: "If you can find a way to control foreign exchange in 1928, I can help you issue a government bond of no more than $200 million in the United States......"

……

Beijing, Shuncheng County Palace, in the study.

"Little Liuzi, neighboring Ge...... Do you think there will be a fight? ”

Zhang Zuolin's old eyes seemed to be closed, and he just looked at the letter raft in his hand with his head propped up. It was a handwritten letter from Duan Qirui sent from Shandong, and it was full of statements worried about war. At present, half of the Anhui system is in the ground, and it is next to the territory of the Kuomintang, and I don't know when it will be suddenly disarmed. Well, Duan Qirui and Lu Yongxiang don't have a trace of confidence in the sacrificial spirit of those old soldiers under their hands. It is estimated that as soon as those tanks of the National ** Army are pressed over, it is time to raise their hands and surrender......

There was silence in the room, and it was Zhang Xueliang who broke the silence for a while: "Father, I can't fight this matter." I discussed it with Mr. Matsuoka of the Manchurian Railway, and he believed that the KMT's weakness at the moment was its overdependence on foreign capital. This foreign capital is very volatile, and they are now flocking to the Kuomintang-ruled areas to drive the economy to a high speed. It can also be withdrawn overnight, so that the Kuomintang can climb high and fall hard, and the key to all this is China's stability, not to have a long-term civil war or foreign war. During the Middle East Road War last year, there was some outflow of foreign capital from the areas ruled by the Nationalist Government, but because the war ended in a very short period of time, and it ended with the victory of our China. This led to a further increase in the enthusiasm of foreign investment, and in their view, the successful defeat of the Soviet Union was a sign of China's take-off. Moreover, Sun Yat-sen's inauguration as president and the issuance of the ban on civil war have made investors all over the world see the hope of China's take-off, so they will flock to it. If once the fight starts......"

Zhang Zuolin suddenly opened his eyes and glanced at his son, Zhang Xueliang sat leisurely on a Taishi chair, holding a cup of black tea in his hand, and slowly tasted it.

"Once the fight starts, how sure are we?"

Zhang Xueliang smiled and shook his head: "Nothing." ”

Zhang Zuolin let out a long sigh: "I don't have to bet on this if I am not sure, otherwise they will become stronger and stronger, but we will stand still, and we will be able to win without a fight in less than five years." ”

Yang Yuting frowned, and seemed to have been thinking hard: "Dashuai, if we don't gamble, we are waiting for death, and gambling is sending us to death, and the only way to win is to count on the Kuomintang to take the initiative to retreat and withdraw from the northern banknote issuance market." It's really a risky move, but no matter how dangerous it is, it's also a move, if we go well, our whole game will be alive. ”

Zhang Zuolin nodded: "Let's go well, we can recover." In the first step, we can get 30 million yuan of the 'silver dollar coupons' issued, and after deducting the 10 million capital, there are still 20 million yuan, and then use the run on the fiat currency to exchange the domestic fiat currency cash, which is estimated to be 200 million yuan, and then take out more than 60 million yuan to convert it into silver dollars...... Of the remaining more than 130 million, more than 40 million are ours, almost 30 million silver dollars. Together, we get an extra 50 million silver dollars, which is 65 million fiat dollars. With this money, we can start building as well. I don't believe that with the resources of our northeast, we will definitely lose to their south? By the way, Xiao Liuzi, what do you think we should invest in with this money first? Is it a steel mill? ”

A confident smile flashed across Xueliang's face. When it comes to the conditions for the development of heavy industry, where can the South compare with the Northeast? There is coal and iron in the Northeast, and the railway transportation is extremely convenient. What is more advantageous is that coal and iron in the northeast are not far apart, and around Fengtian, there are coal mines in Fushun at the same time, coal mines in Fengtian, and iron mines in Anshan. They are also easily connected by rail, and the cost of transportation is much lower than that of Kannai. The only trouble is the Japanese...... But now those little Japan are much more sensible, and they haven't caused trouble for a long time. I think this is also the result of the Middle East Road War, and he Zhang Xueliang also has merit, uh, hard work.

"Dashuai, we plan to use the iron ore mine in Anshan to build a large-scale iron and steel complex. Uh, like those steel mills in the South. With a total investment of 50 million silver dollars, all machinery and equipment are imported from Japan, with an annual output of 205,000 tons of iron and 200,000 tons of steel. And...... The Japanese also promised to transfer to us the technology and equipment for the production of artillery steel, so that in the future, our Fengtian Arsenal will be able to produce artillery in large quantities like the Chinese military industry, and the firepower of the Fengtian army will be able to rise to a higher level. ”

Here, Yang Yuting also crossed his fingers and gave Zhang Zuolin the benefits of opening a steel plant. Another point he didn't mention was that the establishment of an independent customs territory in northern China was currently in the works, which is a top priority for the central government in Beijing. Britain, the United States, France, Italy and other European and American powers have already nodded their heads, only Japan is still negotiating, it is estimated that it will be down in four years, and when the time comes...... This steel mill will be able to make a lot of money like the steel mills in the south.

Zhang Zuolin nodded, and said, "I heard that now Yan Xishan also has a steel factory?" In Taiyuan, I was going to spend 8 million silver dollars to buy equipment from China Iron and Steel, and I wanted to get 50,000 tons. China G also plans to build a 50,000-ton steel mill near Baotou. If this is all completed, will our steel in the north not be sold? ”

Zhang Xueliang laughed and waved his hand: "No." They already have a production capacity of more than one million tons in the south at present, and they still have to import a large amount of them. This time, I heard that the two major steel companies of the Germans, Krupp and Bethlehem, the Yankees, are planning to build steel plants in Anhui and Jiangsu, and that China Iron and Steel will also expand its original production capacity. It is estimated that in four years, the total output of steel mills in the south will exceed 3.5 million tons, and with the addition of our three major steel mills in the north, it will be almost 4 million tons smaller, which will definitely exceed that of Japan. When the time comes, we should take back the Kwantung Prefecture and the South Manchurian Railway. ”

After listening to Zhang Xueliang's words, Zhang Zuolin and Yang Yuting's faces turned slightly blue. Reclaim the Kanto State ...... It sounds like a dream. Where are the Japanese willing to return it? At the end of the lease period in Kwantung Prefecture, they said with confidence: "In order to drive out the Russian army that is stuck in the northeast for China, Japan has invested 2 billion yen in Manchuria." Within 10 years, the cost will reach 6 billion yen. Did China repay the money? …… Japan also lost 100,000 precious lives in Manchuria, which cannot be exchanged for money. ”。