"Haha, Shaoqing said it well, his concerns are probably your concerns. I can explain that the exchange price of fiat currency and silver dollars is one to one, so it can be exchanged according to the price comparison of silver dollars. The total issuance volume is 1.38 billion. Once it is promulgated and implemented, it will be shipped to your banks in the shortest time." Kong Xiangxile said.

Mei Yuntian looked at his face and felt a little like Fan Haer, who looked silly, with a simple appearance and shrewdness on the inside. However, Fan Haer's shrewdness has a bit of a rash spirit, while this man's shrewdness has the arrogance of a noble car.

After Kong Xiangxi finished speaking, he waited for a long time before Chen Jitang's representative said slowly: "We have no objection to the implementation of fiat currency, but there are always ways to issue this currency. Which banks have the right to do without the right? Secondly, how to determine the amount of currency issuance? Please tell me in detail, so I can also tell the above."

Mei Yuntian and Zhang Jingjiang exchanged glances, and understood each other that the real contest began.

"The central bank, the Bank of Communications and the Agricultural Bank of China have the right to issue currency. As for the amount of currency issuance, of course, the central government determines the amount of currency issued according to national fiscal policy." Kong Xiangxi still smiled: "Everyone, the purpose of unifying currency is to abolish the disadvantages of indiscriminate issuance of currency in various places, so the issuance of fiat currency must of course be controlled in the hands of the central government. There is no doubt about this."

In the last two sentences, Kong Xiangxi's tone was very heavy, but Chen Jitang's representative didn't care at all, as if he didn't know what he meant. He just shook his head and said disdainfully: "When I came, Commander Chen said that currency is related to the national economy and people's livelihood, and cannot be easily decided. In recent years, Guangdong's economy has developed rapidly, and the fundamental reason lies in the stability of currency. Therefore, the method of issuance of currency needs to be invited to discuss with all parties in China."

The King of Southern Heaven was indeed well-known, and he was blatant to ask Chiang Kai-shek for financial power, and Mei Yuntian was about to speak. However, Zhang Jingjiang shook his head slightly, meaning that he would calm down and not speak for the time being.

Kong Xiangxi didn't say anything, but laughed twice and turned to Yan Xishan's representative. Shanxi's old financial account lost money, so Shanxi's Jin votes were still very high among the people. However, Yan Xishan lost troops and generals in the Central Plains War. At this time, he had no strength to challenge Chiang Kai-shek, so his representative said very smoothly: "Minister Kong is right, but this matter is really big. The amount of currency issuance must be cautious. Let's discuss it carefully."

Every representative must make a statement that Shanghai is the financial center of China, and the attitude of the Shanghai banking industry is the most important. Chiang Kai-shek and Kong Xiangxi spent two years to convince the Shanghai banking industry in order to win the support of Shanghai. There were five representatives of the Shanghai banking industry who attended the meeting this time, including Yu Qiaqing.

Yu Qiaqing is the new general manager of Siming Bank. Sun Hengfu, the former general manager of Siming Bank, resigned in July. Sun Hengfu's resignation and Yu Qiaqing's succession was a secret struggle between Zhang Jingjiang and Kong Xiangxi. The battle was very wide. The initial cause was that Siming Bank was one of the oldest Chinese banks in Shanghai. It was founded by Ningbo merchants in the former Qing Dynasty. By 1935, his shareholders were no longer just Ningbo merchants, and their business scope had long been expanded to real estate, with a price

Bonds, loans and other businesses also issue currencies, and they have a good reputation among citizens. Siming Bank's most popular ones were in 1933 and 1934. Later, it was hit by the outflow of silver and financial turmoil. In order to promote legal currency, Kong Xiangxi secretly sent people to Siming Bank to run currency. General manager Sun Hengfu was unable to respond and had to ask the Ministry of Finance for help. Kong Xiangxi took the opportunity to ask for official stocks. When Sun Hengfu was about to agree, Zhang Jingjiang appeared.

Zhang Jingjiang injected 5 million US dollars into Siming Bank through Yu Qiaqing to maintain Siming's private status. However, Zhang Jingjiang and Kong Xiangxi both have the same condition, that is, Sun Hengfu must resign, but the successors are different. The former requires Yu Qiaqing to take over, while the latter has to send Li Jialong from the Central Bank. So the winner is immediately decided between the two, and Sun Hengfu chose Yu Qiaqing without hesitation.

Zhuang Jihua later explained to Zhang Jingjiang that this strategic approach was that Zhang Jingjiang was targeting Kong Xiangxi. In fact, he was still going to Chiang Kai-shek to take revenge on Chiang Kai-shek's abandonment.

However, the explicit explanation is that the collaboration between Industrial and Commercial Bank of China and Siming Bank will occupy 40% of the Shanghai financial industry and can better support the development of industrial and commercial areas.

But when I look back now, Zhuang Jihua has to admire Zhang Jingjiang foresight. These two banks are now actually controlled by Zhuang Jihua. This has invisibly strengthened other financial intervention capabilities.

Yu Qiaqing had a little thin face on the surface of the ancient Jingbu. He just said calmly: "Issuing fiat currency is a good thing for the country. We naturally support it. But since fiat currency is issued, it is inevitable to take back the currency of the previous issuance. This is a matter of life and death for our banks. Is there any measures from the Ministry of Finance to help us overcome this difficulty?"

As soon as Yu Qiaqing's words fell, the representatives present whispered. The director of Fudian New Bank, the representative of Longyun Di immediately expressed support: "We Yunnan have always been barren. Recovering money by relying solely on our own funds will definitely cause a currency shortage. And our bank will also go bankrupt."

The bargaining of the banks made Kong Xiangxi feel very uncomfortable, but he had to negotiate with them. These banks were not within the central control. Needless to say, Yan Xishan, Chen Jitang, and Long Yun. Issuing currencies is an important means for them to accumulate military expenditures. Most of the Shanghai banks are in the concessions. The central government cannot control them. This forces the central government to put down the air and negotiate with them.

Kong Xiangxi understood what these people thought. They wanted the central government to bear part of the losses, but the central government could not bear the losses for nothing.

"Everyone, your banks can pay reserves to the central government. The central bank provides you with legal currency according to the reserves of one to ten to recover the issuance funds." After Kong Xiangxi finished speaking, he took out a cigar and lit it. His faint smile appeared in the smoke.

"Since the 20th year of the Republic of China, after Commander Chen took over Guangdong, the development of Guangdong's economy is obvious to all. This is firstly due to the stability of the currency value. Inflation in Jiangsu and Zhejiang regions has risen high, and the currency value is very unstable. Moreover, according to Minister Kong, the fiat currency is pegged to the British pound. How much foreign exchange is the central government to stabilize the fiat currency? In addition, how the amount of currency issuance is determined is not clear about these. There are also foreign exchange transactions. Guangdong's foreign exchange transactions are very active. After the fiat currency is issued, only three banks can conduct foreign exchange transactions. This undoubtedly cuts off the channels for Guangdong's foreign exchange transactions and causes shocks in the market." Chen Jitang's representative local issues are very sharp and very specific.

"Foreign exchange trading banks are designated places. Now we only determine the central bank, Agricultural Bank of China, Bank of Communications, and as for other banks, as long as the conditions are met, I think it's OK." Kong Xiangxi avoided other issues in Guangdong and cleverly limited the issues to foreign exchange trading banks.

The fiat currency is guaranteed by the national credit, decoupled from precious metals such as gold and silver, and also decoupled from foreign exchange such as pound and US dollar. The issuance quantity is entirely determined by the state and there is no need for foreign exchange as a guarantee. This is the first time in China.

"We support the issuance of fiat currencies," the director of Fudian New Bank squirted a sip of smoke: "But I dare not make any decision on retrieving the currency and how to reclaim it. I must report to Chairman Long before making a decision."

Mei Yuntian secretly praised the director for his intelligence. The central government clearly stated that he wanted to promote fiat currency. This meeting was not whether to promote fiat currency, but how to promote fiat currency. At the same time, it was to stop printing and take back the issued currency. Therefore, it was unnecessary to argue at this time and protest was useless. It would be better to take a step back and let the political leaders make the decision.

Kong Xiangxi understood that today's meeting was half successful, and the representatives of Shanghai and Sichuan had actually expressed their support, but the representatives of local forces did not let go. However, with the support of the representatives of these two places, especially in Shanghai, the implementation of the fiat currency is undoubtedly true.

However, Mei Yuntian felt that today's meeting had failed. Zhang Jingjiang had never made any hints. Now all parties have a clear attitude. Guangdong clearly will not give up the right to issue currency, nor will it recycle currency. Yunnan and Shanxi bargain with the central government, mainly to gain some economic benefits, so this meeting is no longer necessary.

Sure enough, Kong Xiangxi said something about it again later, but all parties reacted coldly and stuck to their bottom line. Seeing that they had no intention of giving in, Kong Xiangxi announced the meeting to end. At this point, the transaction on the open ended and the transaction on the secret was turned into the transaction on the bottom.

Mei Yuntian complained to Zhang Jingjiang when she returned to the hotel, why didn’t she take the opportunity to raise supervision issues when Chen Jitang’s representative was attacking. Zhang Jingjiang shook his head and smiled faintly: “It’s not the time.”

Yu Qiaqing explained in more detail: "If you proposed it at that time, Kong Xiangxi would place you in the ranks of opposing the promotion of fiat currency, while Guangdong, Yunnan and Shanxi will be encouraged, and many changes will arise out of thin air. Nephew, even if the legal currency is implemented, you can also establish a supervision, check and balance agency later. If you are anxious, you can't eat hot tofu, take it slowly."

"Then should we talk to Weng Wenhao?" Mei Yuntian was a little discouraged. But he had to admit that these two old guys were right. Their purpose was not to oppose the promotion of fiat currency, but to supervise and manage the issuance of currency. In fact, it is more important to explore and plan wartime economic policies to avoid economic bankruptcy due to war.

"You must talk about this," said Zhang Jingjiang. "We must not only talk, but also talk openly and express all the concerns of the Cultural Revolution. Some things he said are more beneficial than us."

As he was talking, Lian Xiaosen came in, holding an invitation in his hand: "Sir, the Confucius Mansion sent someone to send an invitation to the banquet."

Mei Yuntian frowned slightly. He had been to Nanjing several times and met Kong Xiangxi several times, but he had never been to his house to attend any banquet. What does Kong Xiangxi mean this time?

"It won't be the Hongmen Banquet," Zhang Jingjiang joked: "Don't worry, that's your uncle."

After saying that, he laughed loudly, but before his laughter fell, he and Yu Qiaqing's servant also came in, holding a red invitation in his hand.
Chapter completed!