Chapter 149 The idea of ​​issuing treasury bonds

"Treasury bond?"

Emperor Wanli was surprised and authentic.

"Yes, the emperor." Huang Laifu said: "Although my Ming Dynasty has never issued national debts, it has a century of history and the effect is very obvious in all countries of the Western Red and Barbarians. Our Chinese take advantage of the strengths of the world, and the Western Barbarians' methods are not unavailable for our Chinese."

In modern times, most Western banking circles have been established by the ancient Chinese banking methods, such as banknote issuance, basic banking procedures, etc., all of which are learned from China. However, the younger generation is better than the younger generation. After years of development, Western banks have developed many unique features, and the treasury bond system is one of them. In the late Middle Ages, Western European countries generally adopted the tax-inclusive system and the treasury bond system, effectively solving the national government and financial problems.

Taking Britain as an example, since the 17th century, Britain established a treasury system. Soon, the treasury bonds grew faster and faster. The Spanish throne inherited the war was 53 million pounds, and by the Seven Years' War it reached 122 million pounds. In short, Britain made its original capital accumulation smoothly through the agricultural revolution, overseas trade, colonial plunder, treasury system and tax policies, creating important conditions for the rise of the industrial revolution.

However, the treasury bonds have pros and cons, and they need to be paid back in the future, and they sound bad. National debts and state debts are owed by the state. I am afraid that officials of all sizes will feel a strange feeling after hearing this. Traditional Chinese officials hope that the country will have a full warehouse rather than owing a lot of debts.

One of the reasons why Huang Laifu mentioned this method to Emperor Wanli was that Emperor Wanli was a very flexible monarch. For him, as long as he achieved his goal, the means could be considered. Second, the Ming Dynasty's tolerance spirit was still very broad at this time, and they did not mind introducing any advanced foreign things. Taking the Folang machine cannon as an example, from discovery to introduction, to complete domesticization, to being better than being a master, it took more than ten years.

The issuance procedure of the treasury bond is not a problem for Huang Laifu, a businessman from later generations. He briefly introduced to Emperor Wanli some of the procedures for issuing treasury bonds, how to do it, and then said: "In addition to effectively solving the problem of national use, I have some considerations."

Huang Laifu said: "In ancient times, wealth is like water. Nowadays, there are huge wealth in the world, but they do not know how to use this wealth. Most people hide silver in the cellar. What is the difference between these silver and waste stones?"

"The ancient sage once said: The flowing water does not rot, and the household hub is not filthy, it is because of movement. The Ming Dynasty is now empty, but a huge amount of silver from the people has accumulated in the cellar. Only by allowing the silver to flow like the blood of the human body can the country be filled with vitality and blood."

Emperor Wanli was stunned when he heard this. He didn't expect that there was such a big reason about silver. The officials of the Ministry of Revenue had never told him these words. Emperor Wanli never thought that he would open up a new world before. Emperor Wanli felt more and more that Huang Laifu should be the position of Minister of Revenue.

Emperor Wanli was refreshed and said, "What Huang Aiqing said is really about my heart. I have always heard the Jinyiwei say that the people in the country are rich now, but I have never thought about why the treasury is becoming more and more empty. The country's use is scarce. It turns out that there is such a reason."

Huang Laifu smiled and said, "So, the Ming Dynasty is not without silver now, but the use of silver is not legal. Issuing national bonds can use the wealth accumulated among the people for my own use and effectively solve the problem of national use. When the silver flows, it can increase more wealth and make the country's vitality more full."

Emperor Wanli smiled and paced back and forth in the cabinet, saying repeatedly: "Okay, okay, if the national problem can be solved, Huang Aiqing should be the leader."

He paced back and forth in the cabinet for a while, suddenly stopped and said, "The national debt is a debt, which means that it must be paid in the future. How will the court repay this account in the future?"

Whether the word "national debt" sounds difficult or not is not within the consideration of Emperor Wanli. What he is concerned about is how to repay the money in the future. If the country borrows the debt but cannot repay it in the future, causing any civil riots, the face of the Ming Dynasty will be lost, which is what Emperor Wanli must consider.

Huang Laifu secretly praised Emperor Wanli for seeing the essence of things at a glance, but was not confused by the current benefits. He said: "The emperor is wise and can see the advantages and disadvantages of this treasury bond at a glance. The treasury bond is indeed a debt. In the future, in addition to repaying the principal, an annual interest will also be paid. The annual interest cannot be low, otherwise it will not attract wealthy merchants to buy it."

Huang Laifu said: "The future repayment of national debts can generally be done in several ways. For example, raising various taxes and allowing the public to pay national debts, of course, this is a fishing pool and is easy to take. I also think this method is not possible, otherwise I will be the sinner of the state."

"One is to transfer the repayment of national debts to the outside world. The previous development of foreign countries is also a method that can effectively prevent the previous method of opening the salt in the middle and expelling national debts. I use land to exchange for national debts. I also have to pay a certain price to protect the safety of those merchants with force. If this method is used properly, it will be very effective. It will make a lot of profits and there are a lot of land outside the frontier, which is enough for me to use. Even if the land outside the frontier is allocated in the future, isn't there still Nanyang? After the distribution of Nanyang, there are other places, and the world is very big."

Emperor Wanli was stunned when he heard this again. Unexpectedly, Huang Laifu had such a broad vision, both from the frontier and from the South China Sea, which allowed him to see a new world outside China.

Huang Laifu continued: "Finally, there is another method, and the most effective method. It is to let the North Korean country compensate for military expenses after the rebellion, and let the Japanese country cede land and pay compensation for compensation to save our military expenses."

Emperor Wanli breathed deeply. He felt that talking to Huang Laifu had a thrilling feeling, which made him feel a little overwhelmed. His words were so shocking.

Emperor Wanli could not imagine how a military general in a border town would have such imagination and mind.

He said slowly: "It is not advisable to let the North Korean state compensate for military expenses. North Korea is a vassal state of our Ming Dynasty and has always served very respectfully. The Celestial Empire helped them to quell the rebellion. How could they ask them to compensate for military expenses? Not to mention that the court officials did not agree, even other vassal states would be disappointed."

Huang Laifu sighed secretly. In ancient China, he always wanted more face than inner world. What is this Goryeo stick? As a later generation, he understood very well, but now the whole country of North Korea is really very respectful to the Ming Dynasty.

Huang Laifu said respectfully on the surface: "The emperor is wise, but he is ignorant."

The North Korean state did not allow the military expenses to be compensated, but Emperor Wanli was very excited to let the Japanese state cede land and pay military expenses. This was the biggest difference between him and the current Ming Dynasty officials and the previous Ming emperors.

Emperor Wanli said enthusiastically: "The Japanese should be punished by disturbing our vassal state. However, Japan is weak and the people are poor. Do they have so much money?"

Huang Laifu smiled and said, "The emperor doesn't know that the people of the Ming Dynasty, especially the Jiangnan area, call Japan the "Treasure Island". According to the news I have obtained from some merchants, the silver exported to Jiangnan every year by Japan is between one million taels. What's their money?"

In the late 16th century, Japan was the largest supplier of silver in the East. Together with Mexico in the west, it accounted for 25% of the world's silver circulation, which shows how large the silver reserves in Japan were. Even in the late 17th century, Japan's total silver exports were still between 188 tons, with an average annual export of 7 tons.

Emperor Wanli's pupils suddenly magnified, and his eyes shone with bright light. After a long time, he said angrily: "I didn't expect the Japanese to be so rich... Humph, after the Korean rebellion was pacified, these Japanese people must pay the price of one million taels of silver as a punishment!"

Huang Laifu hesitated and said, "Is it too little to pay a million taels of silver? According to my opinion, they should be asked to pay at least 30 million taels of silver... Well, it is best to pay a hundred million taels of silver."

Emperor Wanli felt like he couldn't breathe again. He coughed lightly and said, "This matter will be discussed after the North Korean chaos is pacified."

He looked at Huang Laifu and said, "I have thought about the issue of treasury debts. Huang Aiqing can write a memorial to let me take a good look. Also, how to convince the court officials is also a problem."

Speaking of this, Emperor Wanli showed worries on his face. He often understood the power of the civil servants of the Ming Dynasty. As long as they thought it was wrong, they would rather die than surrender. Emperor Wanli could imagine that the national debt, first of all, could not match the civil servants in the court.

Huang Laifu naturally understood the worries of Emperor Wanli. Even if he only reads history books, he also understood the power of these corrupt scholars. He whispered: "Emperor, if it is not feasible in the court, I can contact the merchants privately to share the worries of the emperor."

Emperor Wanli stared at Huang Laifu for a while and sighed: "Maybe this will be true then."

Huang Laifu said passionately: "I have no choice but to share my worries for the emperor."

Emperor Wanli nodded in emotion and said, "I knew Huang Aiqing was a loyal minister."

Suddenly he remembered something and asked Huang Laifu: "By the way, Huang Aiqing, I heard that the minerals in your Shenchi Castle are operating well?"

Huang Laifu said: "Trust the Emperor Hong Fu, the operation of Weichen's Shenchibao Big Coal Mine and Shenchibao Big Iron Factory has been stable. Weichen's taxes are paid, and the income of each mineral in Shenchibao has made great contributions."

Emperor Wanli looked confused and said, "I don't understand why Huang Aiqing's mineral management is stable, and I have tried to start mining for many times, but my ministers have dissuaded me? You should know that mining can collect taxes, miners can also turn into soldiers, save hunger outside, and spare them inside. This is a good thing."

Huang Laifu wanted to say that these minerals had been divided up by local officials and powerful people, and had formed a powerful interest group. If you issue an edict to mine, it will be absent their financial resources. Of course, they have to dissuade them. Of course, this cannot be said on the surface, but it just means something: "In fact, when I first started mining, there were many obstacles. The local powerful people colluded with horse thieves to harass me. It was after I annihilated the horse thieves and mined successfully."

Emperor Wanli nodded and said, "I understand."

Huang Laifu didn't know that his words further strengthened Emperor Wanli's determination to order the world to mine in the future.

When the king and his ministers talked about this, the sky was dark. Emperor Wanli had a good way to resolve the financial crisis. He was in a happy mood and became more and more pleasing to Huang Laifu. He called in an eunuch and asked him to prepare a banquet in Cuihua Garden. He wanted to enter a banquet. The eunuch looked at Huang Laifu and was secretly surprised. It was not enough to have a secret conversation, and he also had to host a banquet for entertainment. This man surnamed Huang was too doting for the emperor, and he went there respectfully.

Emperor Wanli smiled at Huang Laifu and said, "Zhongming, come, I will take you to see my Concubine Zheng, and she also wants to see you."
Chapter completed!