Chongzhen Daming: Starting from Coal Mountain

Chapter 225
Sun Tinglan is not the only smart person.

In the teahouse across the street, Chen Zhenhui and Zhang Dai were also thoughtful.

The Chen family in Wuxi and the Zhang family in Shanyin also purchased a lot of bonds from the stock exchange, and both of them were handed over to Chen Zhenhui and Zhang Dai who were studying in the Nanjing Imperial College.

Chen Zhenhui and Zhang Dai are descendants of aristocratic families, so naturally they would not personally come forward to make trouble.

But both of them sent servants outside the gate of the Exchange to inquire about news at any time.

Hearing that the stock exchange really wanted to repurchase the bonds, Chen Zhenhui and Chen Zhenhui thought of a possibility at the same time.

Zhang Dai said: "Brother Dingsheng, do you think that the battle in Xuzhou has turned decisively? That's why Ma Mingtao dared to really open the door to buy back bonds?"

"It's hard to say." Chen Zhenhui said, "There really is such a possibility."

Zhang Dai said: "In this case, should we sell the bonds?"

Chen Zhenhui thought for a while, folded the fan together and said, "I won't sell it for now."

Good guy, it's cold in the spring, and you still have a folding fan in your hand.

After a pause, Chen Zhenhui continued: "Even if I guess wrong, it's only more than [-] taels of silver, and it should be donated to the imperial court to fight against Jianlu."

"That's good, I won't sell it anymore." Zhang Dai nodded.

Immediately there was silence in the private room, and neither of them made a sound.

After a while, Zhang Daicai asked again: "Brother Dingsheng, do you regret not joining the scholar camp?"

To be honest, Zhang Dai actually wanted to participate at the beginning, but he felt that he couldn't bear the hardship, so he didn't dare to step into the door of life and death in the end, but he still regretted it afterwards.

Zhang Dai always felt that he had missed a once-in-a-lifetime opportunity.

"Regret? What's there to regret." Chen Zhenhui said with a smile, "Regret that I didn't let Chongzhen behead his head and set the rules like Gu Gao?"

Zhang Dai said: "Gu Gao's death is his own fault."

"Well, Gu Gao is indeed to blame, this person is spoiled." Chen Zhenhui said, "I really think he is Gu Xiancheng's son, so he can respond to everything and do anything."

Zhang Dai said: "In the end, I ran into Chongzhen's knife."

"But I still don't regret not participating in the Scholars Camp." Chen Zhenhui said sarcastically, "I'm not as arrogant as Gu Gao, but I'm not as naive as Mao Xiang, Wu Yingji, and Zheng Sen. I really believed Chongzhen's nonsense."

Zhang Dai frowned and said, "Brother Dingsheng, you don't believe that Chongzhen will recognize the people-oriented thought?"

"Only fools believe it." Chen Zhenhui said with a cold snort, "It's not uncommon to see an emperor who puts the country above himself, but how often have you seen an emperor who puts the common people above himself?"

"The common people of Li Shu have nothing to eat and clothing, which emperor would share the rich clothes and jade food?"

"The common people of Li and Shu can't afford to marry wives. Which emperor in the past and present is willing to release three thousand beauties from the harem to marry them?"

Speaking of this meal, he said: "It has never happened before, and it is impossible for Chongzhen to become such a holy king, so this is just an extraordinary method in an extraordinary period to fool those brainless beings."

Zhang Dai nodded and said: "That is to say, if the situation is stable in the future, Chongzhen will kick away the scholar camp?"

"That's right." Chen Zhenhui patted the folding fan again and said, "Six thousand scholars are nothing more than tools. They should go back to the Imperial College to study when the danger of annihilation is alleviated, but some people return forever." I won't come, because Chongzhen's empty words cost my life, brother Zongzi, don't you feel wronged?"

Zhang Dai sighed lightly when he heard the words, are you wronged?Maybe it's wrong.

At this time, a servant came in and reported, "My lord, it's time."

"Oh yes." Zhang Dairumeng woke up and said, "Brother Dingsheng, it's time for us to be on duty."

"Brother Zongzi, go, I have already resigned from the Ministry of Internal Affairs." Chen Zhenhui shook her head and said, "I have refused to be given an official position for so long, not to mention that Ma Mingpao is only a sixth-rank vice-principal. So what if I really give you my official status? It’s just a high-ranking sesame official, and it’s not worthwhile to stoop to serve others for such a lowly official.”

"Eh?" Zhang Dai was taken aback when he heard the words, but finally decided to go straight.

As a result, when Zhang Dai came to Shangzhi in the House of Internal Affairs, he happened to meet Ma Mingpao arguing with Zuo Guangxian.

Zuo Guangxian was originally just a censor, but last time he listed ten crimes against Chongzhen and the Ministry of Internal Affairs, which made him famous, so he was promoted to be the censor of Zuoqian capital in the department push last month .

In other words, Zuo Guangxian is now a senior official of the fourth rank.

The official fourth-rank censor Yanguan has almost stepped into the power center of the Ming Dynasty Hall.

That's why Zuo Guang first talked about Chongzhen and the Ministry of Internal Affairs, and he worked very hard: "Deputy Chief Ma, there is a big problem with the accounts of your Ministry of Internal Affairs. General ledger? Where is the detailed account? Is there a problem with it? Are the accounts hidden by you, Vice President Ma?"

"Presumptuous!" Ma Mingpao became angry immediately, can this be said casually?
Zuo, you not only want to take off my Ma Mingpao's black hat, but you also want my life!

But Ma Mingtao suppressed his anger after all: "Zuoqian Duxian, you have to be responsible for what you say. It's fine if you put a pot of shit on my Ma Mingtao's head, but it's not okay to discredit the Holy One."

"Don't scare me with the holy majesty." Zuo Guangxian showed no fear, "Not to mention that the holy majesty has given us the power to supervise the Ministry of Internal Affairs. Even if there is no holy order, this official will still conduct a thorough investigation."

Speaking of a pause, Zuo Guang first straightened the black hat on his head, and then continued to speak righteously: "Everything in our Ming Dynasty's territory, as well as in our Ming Dynasty's officials and accounts, there is no such thing as our procuratorate dare not check or It can’t be checked! Vice President Ma, I advise you to obediently hand over the detailed accounts.”

This last sentence is already like interrogating a prisoner.

Ma Mingpao was very angry, and immediately said to Zhang Dai: "Zongzi, go to the warehouse and bring over the salary of the Huai'an mansion and the subordinate counties, the salary of the Xiangyong, and the detailed account books for the expenditure of rice for work and food."

"Since Zuoqian Duxian wants to investigate, let him do it."

Speaking of this meal, Ma Mingpao said to Zuo Guangxian viciously: "But Zuoqian Duxian, if there is no problem in the detailed accounts, what should we do?"

Zuo Guang first said: "If you can't find out, you can't find out, it means that the accounts of your Ministry of Internal Affairs are all right."

"That's the end?" Ma Minghao laughed angrily, "You all procured the court to mobilize the crowd, and the censors and officials came in a mighty manner. There were nearly a hundred people, and they almost beat the gongs and drums to spread the word to the whole city. Question, and then the accounts are checked, and it’s over if there is no problem? Zuoqian Duxian, do you think our Ministry of Internal Affairs is low-level and easy to bully?"

"Then what should Vice President Ma mean?" Zuo Guang sneered back, "We all want the Procuratorate to post a bulletin to announce it to the world, and we can't explain it for your Ministry of Internal Affairs? Vice President Ma, you probably forgot , The censor's rumors are the rules set by the Taizu, you think the ancestral system set by the Taizu is wrong, don't you?"

"You?!" Ma Mingpao was furious, but was speechless for a while, the tablet of Taizu was too heavy.

Who dares to question the ancestral system established by Taizu?Even the sage would not dare, let alone his Ma Mingpai?

However, Ma Minghao couldn't swallow this bad breath, and decided to go directly to the cabinet to find four cabinet assistants to judge the case. The Feng Xianguan of the Metropolitan Procuratorate acted recklessly, so the four cabinet bosses should have some scruples, right?
……

At the same time, the four cabinet elders of Daming also met in the cabinet.

Because Zhang Youyu, Minister of the Ministry of Household Affairs, had important matters related to national affairs to report to the four elders.

By the way, Zhang Youyu finally replaced Gao Hongtu as the official of the Household Department.

Zhang Youyu said: "Shou Kui, there are three elders, just now the Ministry of Internal Affairs has issued an announcement to repurchase all the bonds sold last year at a [-]% discount, have you heard?"

"I just heard about it." Shi Kefa nodded and said, "I didn't expect this to be true."

"I really didn't expect that." Gao Hongtu said, "Unexpectedly, the Holy Majesty is so generous that he is willing to spend the money that has been invested in the internal money to buy back the bonds that have been reduced to waste paper. This is not hundreds of thousands or millions. , but tens of millions!"

Shi Kefa bowed to Xuzhou and said, "The Holy Majesty's actions are beyond my imagination."

Zhang Youyu curled his lips when he heard the words, thinking that you are flattering in Nanjing, but the Holy Majesty can't hear it, so it will be useful?
But Zhang Youyu didn't say this after all, but took the opportunity to throw out the topic he wanted to talk about: "Shou Kui, the three elders, don't you think this is an opportunity?"

"Opportunity?" Shi Kefa looked blank, "What opportunity?"

Xie Xuelong and Jiang Yueguang were also confused, not knowing what Zhang Youyu meant.

Gao Hongtu frowned, and said in a deep voice, "Jinghan, if you have anything to say, just say it, don't be a secret."

"Yes." Zhang Youyu bowed again and said, "After this catastrophe, the Exchange may not be able to do anything. Even if the Ministry of Internal Affairs once again sells bonds under the guise of the Exchange, no one from the gentry and merchants in the south of the Yangtze River will buy them again." , because all the official land in the Northland that the Ministry of Internal Affairs can use as bond collateral has already fallen into the hands of Jiannu."

Shi Kefa and the others undoubtedly knew the battle situation in Xuzhou.

Not only did the battle situation in Xuzhou not usher in a decisive reversal,

On the contrary, the situation has become even worse than when the war first started.

It is really hard to say whether the Huanghuai line of defense can be held in the end.

At this time, if you sell the bonds with the official land in Beidi, there will be no one to buy them.

Zhang Youyu added: "However, the debt issuance is really good, and this is recognized by the gentry and merchants in the south of the Yangtze River."

"Issuing debts is good, but the imperial court doesn't have official land to pay for it." Xie Xuelong said, "It's impossible for us to print a pile of waste paper, and the gentry and merchants in the south of the Yangtze River will rush to buy it?"

"That's definitely not possible." Zhang Youyu waved his hand and said again, "But the mortgage does not necessarily have to be the official land, the lower officials think that other property can also be mortgaged."

"What does Jinghan mean by that?" Shi Kefa and the others were still a little confused.

Gao Hongtu was clear about it, and suddenly said: "Jinghan means to use the settlements of the provinces in the next year or several years as collateral, that is to say, after the bond expires, if the Ministry of Households cannot get out the money to redeem the bond, Take the corresponding province’s settlement to the creditor, and the tax equivalent to this province or several provinces will go to the creditor.”

I have to say that the Ming Dynasty really had no shortage of smart people.

Chongzhen only provided the most basic way to play bonds, but Zhang Youyu and Gao Hongtu directly took the bond market a big step forward, advanced to the government tax as a guarantee to issue bonds, which is similar to directly using national credit to issue national bonds. It's very close, well, this is living without money.

It is equivalent to treating future income as interest and directly increasing leverage.

This is powerful. Assuming an annual interest rate of [-]% and an annual income of [-] million, theoretically one billion yuan in debt can be issued, which is [-] times leverage!Of course this is only in theory.

Jiang Yueguang and Xie Xuelong were stunned. This method seems to be good.

Shi Kefa was a little worried, frowned and said, "Is this okay?"

"What's wrong?" Gao Hongtu snorted softly and said, "We didn't know that we were issuing bonds for our own personal gain, but for the Ming court. Only with the money in Taikuang of the Ministry of Household Affairs can we relieve the crisis!"

Zhang Youyu said again: "Several pavilion elders, and the bank account, the bank account is the key!"

"Bank account?" Now even Shi Kefa is not calm, and the Ministry of Households also opens a bank account?

Zhang Youyu said: "In fact, the imperial court can also open a bank account of the Ministry of Accounts of the Ming Dynasty, and then follow the practice of bundling the exchange with the Royal Bank. You must first open an account at the bank account of the Ministry of Accounts and deposit money."

Shi Kefa said: "But it is not the imperial court's money after all, so what should we do if there is a run on it?"

"That's right." Xie Xuelong also said, "The last time there was a run on the Royal Bank, it is said that it was very embarrassing. The original deposit of [-] million taels dropped sharply to less than [-] within ten days."

"This matter is easy." Gao Hongtu said, "The bank account can set a withdrawal limit, except that the bond trading of the Hubu City Exchange is not restricted, and if you want to withdraw cash, you can only limit a certain amount every day."

"That's a good idea!" Xie Xuelong said, "I think this method is feasible."

Jiang Yueguang and Zhang Youyu also echoed, "This method is really good."

Gao Hongtu and the four of them all agreed, and Shi Kefa didn't want to object any more.

At that moment, Shi Kefa said to Zhang Youyu: "Jinghan, then you should go back to the household department to draw up a charter, which province or provinces will be mortgaged, how many bonds will be issued, and the bank's withdrawal amount. How much should be set, all these should be drawn up, and then we will discuss each item one by one."

"The next official takes orders." Zhang Youyu gave a long bow, turned around and left quickly.

The important event of establishing the Municipal Exchange and the Bank under the Ministry of Household Affairs was agreed upon.

Xie Xuelong and Jiang Yueguang looked at each other and said, "The problem of insufficient national use can be easily solved from now on."

"This is a happy event." Gao Hongtu stroked his beard vigorously, and said happily: "I don't want to live this kind of hard life of breaking a big boy into two flowers."

While talking, a small official came in and reported: "Old Ge, the deputy head of the Ministry of Internal Affairs, Ma Minglu, is asking to see you."

"Ma Minghao?" Gao Hongtu's face fell, and he said in a deep voice, "It must be for the investigation of the accounts of the Ministry of Internal Affairs by the Metropolitan Procuratorate. The cabinet will not come forward on this matter, and the court will resolve it on its own."

(End of this chapter)