Beiyang reactionaries

This is simply "taking advantage of the fire".

With the strength of Industrial Bank, if it hadn't received this turmoil, the valuation should be around 500 million silver dollars.But now it is less than 100 million silver dollars.

There is no way.

Alexander Stephen squeezed in too.

I saw Xi Demao at the front.

Shi Demao, who is only 32 years old, should be said to be very young.Among the banks currently controlled by the government, Xi Demao, the general manager of Commerce Bank, is the youngest one.

However, Xi Demao has experienced a lot since he was a child.

Not cramped at all.

Around him was a row of Shanghai policemen who came to maintain order. There were more than 100 policemen and millions of security guards employed by China Commercial Bank and Industrial Bank.They formed a line, pushed people out, and left a passage.Batch after batch of boxes are transported in from this passage.

And the top cover is open.

Inside, it is bright gold and silver.

Case by case.

It seems to be a steady stream.

Xi Demao stood there, and next to him was Li Fusun, the general manager of Zhejiang Industrial Bank.Xi Demao took a step forward and said loudly: "Industrial Bank has received the support of China Commercial Bank, and China Commercial Bank has become the largest shareholder of Industrial Bank. China Commercial Bank is willing to make the largest credit guarantee for Industrial Bank. In order to support Industrial Bank, it has given Industrial Bank A capital injection of 300 million silver dollars. Moreover, China Commercial Bank also supports Industrial Bank with a cash reserve of 200 million silver dollars, as well as an unlimited credit guarantee. All deposit notes of Industrial Bank will be recognized by China Commercial Bank.”

At the head office of the Industrial Bank, new news was announced to the citizens who wanted to withdraw money.

That is, China Commercial Bank injected 300 million silver dollars into Industrial Bank and became the largest shareholder of Zhejiang Industrial Bank, owning 70.00% of the bank's shares.

Moreover, Industrial Bank has already begun discussing plans to merge with China Commercial Bank.

Then they told them that the Commercial Bank also deposited 200 million silver dollars in cash with the Industrial Bank to deal with the current run.Of course, what is more important is that China Commercial Bank has given Industrial Bank unlimited credit guarantee.In other words, China Commercial Bank gave Industrial Bank the bottom line.

How much deposit does Industrial Bank have?At present, the Industrial Bank's deposits are about 6000 million silver dollars. The guarantee of the Commercial Bank is a direct support for the Industrial Bank.

Such a big announcement.

Mainly what to announce.

The main purpose is to tell the currently run-on citizens that Zhejiang Industrial Bank has no problems.Because Zhejiang Industrial Bank has already received the support of China Commercial Bank, Industrial Bank has China Commercial Bank behind it.

Who doesn't know that China Commercial Bank made a lot of money during this turmoil.Moreover, China Commercial Bank, as a government-controlled bank, has received a lot of capital injection from the government before.

The government even announced that most of the government's foreign exchange business will be handed over to China Commercial Bank, and half of the capital circulation of China's foreign trade business will be handed over to China Commercial Bank.This allowed China Commercial Bank to have a large amount of funds in its hands, with hundreds of millions of funds in and out every year.

China Commercial Bank, which now holds a lot of gold, began to transfer a large amount of gold and silver into Zhejiang Industrial Bank.And it was in front of these run-on citizens that truckloads of silver entered the Industrial Bank for the citizens to see.We are not bragging, we really have so much money.

This is also a good advertisement for China Commercial Bank.

Tell them that China Commercial Bank is strong.He also told them that with China Commercial Bank, there is no need to worry about problems with Industrial Bank.

"I will continue to announce here. China Merchants Group and the Telephone and Telegraph Bureau under the General Post Office will deposit the cash of 170 million silver dollars withdrawn from HSBC into Industrial Bank. This shows their trust in Industrial Bank. I, Xi Demao, As the general manager of China Commercial Bank, let me tell you that Industrial Bank will not have any problems. You don’t have to worry about any bad things happening to Industrial Bank. Your worries are completely unnecessary.”

What is the credibility of the government?

In fact, from the late Qing Dynasty to the early Republic of China, the credibility of the government was very low.The reputation of those banks controlled by the government is also declining year by year.what is the reason?

The reason is that the government treats these banks as ATMs.

As long as there is no money, ask them for money.

Make these banks debt crisis serious.

But not now.

Especially after Duan Xun entered Beijing, the government's credibility continued to increase.This is mainly because there have been fewer and fewer disputes across the country in the past few years, and the warlords who used to occupy the localities are slowly disappearing.

With the turmoil over, the economy has grown steadily.

In fact it is.

As long as the current situation is stable, the economy will naturally recover.

And last year (1923), Duan Xun won the Sino-Japanese War in one fell swoop and signed the "Sino-Japanese Treaty of Nanjing".This has greatly increased the prestige and credibility of the government.

The credibility of these government-controlled banks has also risen sharply.

What's more, this turmoil has affected almost all banks, banks, and money houses.But only the banks controlled by the government were not affected, and instead made a lot of money.

This has made several banks controlled by the government have a good reputation.

"Big class."

Seeing the emotions of the run-on citizens calm down slowly, Alexander Stephen's face became more and more serious.Because the most important thing for a bank is its reputation.

If the reputation is good, there will be no run.

With China Commercial Bank backing Industrial Bank, the run on Industrial Bank looks set to die down.

Damn.

When he just came out of HSBC, Alexander Stephen saw a lot of people wanting to withdraw money in front of those foreign banks.Like HSBC, everyone is in a hurry.

They are far worse than HSBC.

Now HSBC is in a state of distress, and those banks are estimated to have no ammunition at present.

But look at Industrial Bank.

After receiving the support from China Commercial Bank, we will soon overcome the crisis.

"Let's go."

changed.

Things are about to change.

Alexander Stephen knows one thing, that is, if the current situation cannot be calmed down as soon as possible, then the funds thrown out from himself and other foreign banks will be deposited in other banks.

In particular, banks such as China Bank of Communications, China Commercial Bank, and China Savings Bank, which have not been affected by this turmoil, but have made a lot of money in this turmoil, are estimated to have a surge in deposits.

Even if they survive the turmoil at that time, the strength of foreign banks will be greatly reduced.Originally, Chinese people trusted foreign banks very much, but after this turmoil, the credibility of Bank of China is higher than that of foreign banks.

This is not a good thing.

In the future, there will be no advantage in the face of those government-controlled banks.