After hearing these words, Deng Tingzhen realized that he had thought of issuing treasury bonds too simply. Without a huge thing like Yuanqi Bank that monopolizes money dealings with one place and one province, the imperial government bonds could not be issued at all, and a loose bank of bills could not afford the issuance of treasury bonds.

Wu Bingjian felt that Yi Shizuo was not straightforward enough and said in a deep voice: "True Shizuo means taking over the issuance of treasury bonds. It is not Yuanqi Bank? Can you tell me in detail?"

Yi Zhizu glanced at Deng Tingzhen. The court had a great controversy about Yuanqi Bank, which showed that many people in the court had a strong interest in issuing national bonds, but they didn't know much about national bonds. This controversy was related to the life and death of Yuanqi Bank, and it must be said that it was a little more comprehensive.

After sorting out his thoughts, he said: "Issuing national debts will not damage the prestige of the court and will not hinder the face of the court. Since the Saint-Zen Shizong, the population has been raised and never added taxes. Then the number of people has been distributed to the land. The annual income of the court is almost a certain amount. When encountering special circumstances, whether it is to raise troops, provide disaster relief or large-scale construction, it will inevitably be difficult and cannot make ends meet.

Under such circumstances, the taxes will not be added in disguise, and the people will not be blamed, but will issue national debts. This is an act of compassion for the people's livelihood and cherishing the people. It will not only not damage the prestige of the court, but will not hinder the face of the court, but will also be able to unite the people's hearts.

Issuing treasury bonds is actually a benefit to the country and the people. The court can alleviate financial pressure through the issuance of treasury bonds. The people can obtain considerable interest by purchasing treasury bonds. Even if they are promoted and fight against the common people, they can benefit from it. Another thing that cannot be ignored is that the people who have purchased treasury bonds are closely related to the court and will support the court more."

Hearing this, Deng Tingzhen twisted his long beard and slightly slight head. This boy is not simple. He has three principles of sympathizing with people's livelihood, caring for the people, and benefiting the country and the people. This not only dispels the court's concerns about issuing national debts, but also blocks many people's mouths.

"The issuance of treasury bonds has many benefits, but they must use certain channels to issue them." Yi Zhizu paused for a moment and then said: "To put it simply, it is necessary to use money bank accounts with strong financial strength, many semicolons, good financial credit, and will not easily go bankrupt.

Because the people should first consider whether the imperial court has credit or not, but first consider whether the money bank selling the government bond has credit or whether it will go bankrupt before the government bond has maturity.

For example, a merchant in Xiguan, Guangzhou bought a three-year treasury bond bond of 100 yuan at the Xiguan Taichang Money House. It has not expired for three years. Taichang Money House went bankrupt. Where can he cash the treasury bonds he has on hand? It is impossible to find a local government or other treasury house? It is not the bonds sold by our store, and the money house will generally not cash it for him. Even if it can cash it, it will inevitably be a discount. Not to mention getting interest, there is still a possibility of losing money."

After he said this, Deng Tingzhen immediately understood that he could not understand it anymore. In other words, when the people bought national debts, they did not believe in the court, but in the money shop. Millions of national debts were issued. Only large money shops like Yuanqi, which had strong strength, outstanding reputation and were not easy to close down, could help the court issue national debts.

After a pause, Yi Zhizu continued: "There are many bank accounts in the Qing Dynasty, but most of them cost only 10,000 to tens of thousands, and it is rare to see if they cost 100,000 yuan. They can't withstand the twists and turns at a young age, and they can't withstand risks and easily go bankrupt. People buy treasury bonds for safety and stable returns. Naturally, no one is willing to take risks to buy treasury bonds for ordinary bank accounts.

Yuanqi Bank is not the case. Yuanqi, which monopolizes a bank in Guangdong, has branches covering all prefectures, counties and townships in Guangdong. It has complete sales channels, strong funds and good financial credit. It is impossible for it to go bankrupt easily. Only when the people are assured of Yuanqi, they dare to purchase treasury bonds from Yuanqi with confidence.

Furthermore, the quality of the issuance channel of treasury bonds is directly related to the size of the issuance scale. Yuanqi undertakes the issuance of treasury bonds and can directly issue treasury bonds to the township level, which is incomparable to other bank accounts. Although it is not a must for the issuance of treasury bonds, only Yuanqi is able to undertake the issuance of treasury bonds on a large scale."

"After saying this, I will have a clear idea in my heart." Deng Tingzhen smiled and said, "I wonder if Western countries have also issued national debts?"

Yi Zhizu nodded and said, "No Western countries do not issue national bonds. Whether war breaks out or famine breaks out, they will issue national bonds. However, the interest on national bonds of Western countries is low, with an annual interest rate of only about 6%. The interest on national bonds of Britain, which has the most frequent trade with the Qing Dynasty, is even lower, with only about 4%.

"The annual interest rate is only about 4%?" Deng Tingzhen said in surprise: Why is it so low?"

"Because the UK has a perfect financial system." Yi Zhizu said bluntly: "Yuanqi Bank is imitating the UK's financial system, aiming to continuously reduce the interest on deposits and loans in the Qing Dynasty."

Deng Tingzhen nodded and said, "Co-organized the Grand Secretary, Minister of Revenue, Minister of Military Affairs, and Wang Ding and Wang Butang. I am interested in recruiting you to the capital. Are you willing to go to the capital with great satisfaction?"

Who is Wang Ding? Yi Zhizu didn't know at all, but he knew about the Minister of Revenue and the Minister of Military Affairs. He was appreciated by the emperor's close minister who was holding the Qing Dynasty's money bag. Being an official was not a piece of cake. However, Yi Zhizu didn't even want to be an official in the Qing Dynasty. He didn't care about being a gangster in the local area. He never thought about going to the capital to be an official.

It is obvious that this Shangshu Wang has a very good impression of Yuanqi Bank. At present, the capital has a lot of controversy over Yuanqi. Even if he doesn't go, he can't offend others. After hesitation, Yishi said: "Mr. Wang is very grateful to me, but Yuanqi Bank is currently the critical moment of expansion. How dare I withdraw? Besides, I think that managing Yuanqi in Guangzhou is more beneficial to the court than going to the capital."

Seeing that he was still unmoved, Deng Tingzhen twisted his long beard and said, "The old ministers of Wangbutang in the three dynasties are square and upright. They have always relied on the current day. They have been in the Ministry of Revenue for ten years and are familiar with the economy. They can get their appreciation and are expected to rise to the top. Moreover, the Ministry of Revenue is more suitable for you to show your ambitions. You may think twice if you are content."

This was a sincere invitation. Yi Zhizu bowed slightly and said, "It's not that the boy is ungrateful. One is that the boy is young and has a crazy temperament. The other is that Yuanqi is only in a brief form now. The boy hopes to be able to experience it for a few years and wait for Yuanqi to be completely consolidated before he will consider it."

"It is rare to be young and not moved by fame and fortune." Deng Tingzhen smiled and said, "Well, I'll let you practice for a few more years."

"Thank you, Lord." Yi Zhizu quickly bowed and thanked.

"Go back and write a "Traditional Debts" and presented it." Deng Tingzhen ordered: "It will be delivered by noon tomorrow. The emperor and Wangbutang are waiting."
Chapter completed!