Beiyang reactionaries

Moreover, transferring so much gold and silver reserves currently stored in banks to the Bank of China can also greatly increase the government's foreign exchange reserves.Even if there is any disturbance, it must be suppressed.

"One step at a time. Plan carefully."

"Yes."

"Prime Minister Wang, you are fully responsible for this matter. Within three years, I hope that there will be no more gold and silver currency flows across the country, and all will become banknotes."

"Yes."

437

"President Yu, can you believe it?"

On July 1924, 7, the Bank of China officially announced that all banks, bank accounts, and banks currently established in China, regardless of whether they are government-controlled banks, privately-held banks, or foreign banks, will be exchanged from now on. The French currency of the Republic of China issued by the Bank of China.

The amount of legal currency to be paid is determined according to the conversion ratio between gold and silver and legal currency announced by the Bank of China.

Regardless of what the other party has in the bank?

Be it gold or silver, pounds or dollars, if you want to take out the money in the bank, you must exchange it for legal currency.The money withdrawn will be converted into legal currency.The National Bank does not have enough legal currency, so they must exchange their gold, silver and foreign exchange for legal currency from the Bank of China.These banks are not allowed to exchange gold and silver and foreign exchange directly for people.

These banks were not even allowed to own gold, silver and foreign exchange.Only banks with foreign exchange business licenses are allowed to own a certain amount of gold and silver and foreign exchange.

Other banks have to exchange their gold, silver and foreign exchange for legal tender issued by the Bank of China.

It caused a sensation all over the country.

Because of this, the money those people deposited in the bank changed from gold and silver or British pounds and dollars to the legal currency of the Republic of China issued by the Bank of China, and turned into banknotes.

How can this be believed.

How many people have been using gold and silver, or pounds and dollars.

China's own legal currency?

Many people don't believe it.

Therefore, many chambers of commerce, or many fellow countrymen gathered together and began to discuss what should be done.Because in addition to having deposits in the bank, they also have a large amount of cash in their hands.

"Yes. That's paper money, and all we keep is gold and silver."

"Back then, the banknotes issued by the Bank of China and the China Bank of Communications have become nothing. It has completely become waste paper. Now it is necessary to force the banknotes issued by them. How can this be possible?"

Many businessmen have been angry recently.

The Shanghai banking crisis at the beginning of the year has hit them hard.

Let them suffer heavy losses.

Those with insufficient resistance to attack have already gone bankrupt.With such a small amount of assets left, the Beijing government still needs to promote paper money.If you promote banknotes, they are banknotes, and you still insist on banks.

This is not turning everyone's wealth into paper.

banknotes?

It is always not as solid as gold and silver.

"The British, American and French powers also use banknotes."

Shanghai Industrial King Liu Hongsheng spoke.

The current Liu Hongsheng is no longer the Liu Hongsheng of the past.As a coal king, he has always been a salesman in Kailuan Coal Mine.At the peak, the amount of coal sold by Liu Hongsheng alone was a quarter of that of Kailuan Coal Mine.

Almost all the coal used in Shanghai was sold by Liu Hongsheng alone.

to what extent.

At its peak, the annual profit exceeded one million.

After the government confiscated the Kailuan Coal Mine in the hands of British businessmen last year, it still maintained a good relationship with salesmen like Liu Hongsheng, allowing Liu Hongsheng and the others to continue to sell the coal and increase the number of people who use coal.

Therefore, Liu Hongsheng still made a lot of money in the coal business.

After earning money, Liu Hongsheng was very active in the industry.He has successively invested in the match industry and cement industry over the years.As a salesman, Liu Hongsheng's business is doing very well.

At present, Liu Hongsheng's match company is already a well-known match company in the country, and it can be compared with the match companies of the great powers, and they are big companies that compete with each other.The development of the cement company is also very smooth.

Because Shanghai has developed faster and faster in recent years.

Construction is also increasing.

Therefore, more cement is needed.While Wang Yongjiang adopted the strategy of supporting national capital in procurement, the local government also adopted the method of supporting local industries.Wang Yongjiang's economic strategy gave Liu Hongsheng a good opportunity to catch up.

After catching up with Wang Yongjiang, he cut taxes for industrialists like them, gave them government orders, and gave them low-interest loans in the loan field.This allowed his cement company to develop greatly.

Received a lot of orders.

Let his strength in Shanghai become stronger and stronger.At present, Liu Hongsheng is already a top rich man with a net worth of more than tens of millions of silver dollars.

"Can it be the same? Pounds, dollars, and Russian rubles all contain gold, and the banknotes themselves contain gold. The banknotes issued by the Bank of China have nothing but paper money. The government can print as much as it wants in the future. How many banknotes, then the money in our hands is completely useless."

"Unless the government doesn't want to do it. It's impossible for them to print paper money at will."

Liu Hongsheng did not major in economics.

But in these years of doing business, he kept learning, and he also began to understand some monetary and financial policies.So knowing the currency of a government, you can't print as much as you want.

Once that happens, it will inevitably lead to inflation.

"Boss Liu, you have a good relationship with the government recently, and you have done a lot of business, so you have started talking to them anyway."

Some people are not happy.

Originally, Liu Hongsheng was an outsider in the Ningbo Gang.

Although Liu Hongsheng's ancestral home is Zhejiang, it is not Ningbo.Moreover, Liu Hongsheng was born in Shanghai, which is different from the many Ningbo-born businessmen in Ningbo.

It's just that Liu Hongsheng has gotten closer to the Ningbo Gang in recent years, and to the Zhejiang banking industry.For example, among Liu Hongsheng's businesses, half of the loans came from the original Zhejiang Industrial Bank, which is now the China Construction Bank.

That's why we got closer to the Ningbo Gang, and everyone regarded Liu Hongsheng as a member of the Ningbo Gang.But in the eyes of some Ningbo businessmen, Liu Hongsheng is an outsider.

And at the beginning of this year, everyone suffered heavy losses.

Especially in finance.

But Liu Hongsheng was not only not affected, but his career is booming.

The cement factory has received a large order from the government, which makes his annual profits very high.In just a few years, Liu Hongsheng has established four branches of cement factories across the country, becoming the largest private cement factory in the country.In addition, his newly established wool spinning factory and garment factory have also received many orders from the government.