If the "Treasury Debt Theory" is published in the newspaper, it is tantamount to directly expressing the attitude of the court. If you want to object in the future, it will be extremely difficult. Seeing that the Ministry of Revenue agreed in unison, Mu Zhang'a couldn't help but feel anxious. The issuance of treasury bonds is closely related to Yuanqi Bank. Once the court decides to issue treasury bonds, it will inevitably indulge Yuanqi Bank to grow. He firmly oppose Yuanqi's monopoly on the money industry of a province.

Although he was anxious, Mu Zhanga was unwilling to take the lead in opposing the situation. Daoguang's attitude was already very clear and he tended to issue national debts. As the chief military minister, he had to be cautious.

"Emperor." The Minister of Works Jingzheng said: "The annual interest rate of national debt is one monday. Although it is low interest, the amount of national debt is huge, which is often millions, and the annual interest rate is hundreds of thousands. The mere ministers think that is easy to issue national debt, but difficult to repay national debt. Once the treasury is issued, it will be like drinking poison to quench thirst and unable to stop. If this continues, I am afraid that the court will be held by local money houses. I beg the emperor to think carefully."

Jingzheng, Aisin Jueluo. Jingzheng, the fifth son of Prince Gong Yongxi, served as Minister of Works, Minister of Revenue, Minister of the Left Censor, Minister of War, Minister of Works, Minister of Works, Minister of Works, and Minister of Works, and was highly valued by Daoguang. When he spoke, Mu Zhanga couldn't help but breathe a sigh of relief. Sure enough, Minister of Personnel Yijing then said: "Although issuing national debts can solve the urgent problem for a while, it has been trapped in the court in a long-term embarrassment. I beg the emperor to think twice."

Seeing the opposition of the two royal families, the military minister Pan Shien hurriedly bowed and said, "I dare not agree. The "Taiwan Debts" says it very clearly that the imperial court issued treasury bonds not for subscribing to local banks, but for local gentry, merchants and people to purchase treasury bonds. There is no possibility that the imperial court would threaten local banks.

As for issuing national bonds, it is even more absurd to cause the court to be in a long-term embarrassment. National bonds are low interest rates and the term is also long, either three or five years. During this period, the court can plan calmly, either increase revenue or reduce expenditure to compensate for the interest of national debt. In addition, the court will issue national bonds in detail, and the issuance amount, length of term, and how to repay them. There are plans for all. How to drink poison to quench thirst? How to make a long-term embarrassment?

The master is humiliated and dies, the master is worried about the minister being humiliated, the national treasury is empty, the country is insufficient, the emperor is worried and unable to sleep, you don’t want to share your worries, and you don’t want to increase revenue and reduce expenditure. This is also a stop, and that is also a stop. What is the reason? Could it be that you have other good strategies to relieve your worries?

There are indeed disadvantages in building railways, but obviously the benefits outweigh the disadvantages. How much annual income can a railway increase for the imperial court? Have you ever thought about it? Issuing national bonds can not only be used for emergency relief in famines, wars, and peacetime years, but also through issuing national bonds to invest in construction to increase annual income. Have you ever thought about it?"

Speaking of this, he paused slightly, knelt down on the spot, and kowtowed, "Building a railway and issuing national debts is a real source of resources. I beg the emperor for permission."

Pan Shien was an old minister of the three dynasties and the top scholar in the 58th year of Qianlong. He served as the president of the Siku Quanshu, the president of Wenying Pavilion, the president of the Hanlin Academy, the president of Wuying Palace, the president of the National History Museum, the Minister of Rites, the Minister of Works, and the Minister of Personnel. He was promoted to Minister of Military Affairs and also managed the affairs of the Ministry of Revenue. He was highly respected in the court, and his disciples and former officials were everywhere.

He said this very impolitely, but it was blocked that everyone dared not speak. The treasury was empty and the finances were tight. No one in the civil and military officials in the court could come up with an effective way. He hesitated a little, and Wang Ding knelt down. Before he could speak, Daoguang said, "I am calm."

The two of you stood up, and he sighed, "I am convinced of the ancestral teachings and will never increase taxes. However, the annual income is determined, but the national income has increased year by year. In recent years, donations are widely used to support national benefits. If you want to drink poison to quench thirst, donations are only used to quench thirst. The court now urgently needs to open source, and it has reached the point where it is necessary to open source."

Speaking of this, he glanced at everyone and said, "Let's kneel down and stay with Pan Shien and Wang Ding."

The ministers who were waiting for him to kneel down and retreat, then Daoguang looked at the two of them and said, "Yi Jingshi, do you understand this person?"

Pan Shien bowed and said, "Returning to the emperor, Yi Zhizu is the third son of Yi Yunchang, the thirteen-in-law Futai-in-law Shang. He is eighteen years old and is interested in miscellaneous studies. He especially likes Western learning. He is good at economics and proficient in Yi language. Yuanqi Bank was jointly established by the children of the Thirteen-in-law. After only one month of opening, he used the collapse of Guangzhou tea, forcing the Guangzhou Bank Hall to disband and unify the Guangzhou money industry."

Deng Tingzhen described the details of Yi Quest in the memorial in detail, and Daoguang naturally knew it. He immediately followed the verb: "It is not easy to have such insights at the age of 18... I have many things to do with the train and railways, and there is no way to follow the issuance of national debts..."

After pondering for a moment, he said slowly: "I intend to recruit him into Beijing. What do you two think?"

Wang Ding once wrote to Deng Tingzhen, expressing his intention to recruit him, but Yi Zhizu refused. Seeing that Pan Shien did not speak, he bowed and said, "I think it is not possible. Yi Zhizu is young. The court opposes the construction of railways and issues national debts. If he is recruited to come to Beijing, he may cause trouble. In addition, Yi Zhizu is the boss of Yuanqi Bank. If he is recruited to Beijing, it may be unfavorable for Yuanqi.

Yuanqi unified the local money industry, gave loans at low interest rates, and vigorously supported the development of local agricultural commercial handicrafts, which effectively prevented farmers from going bankrupt, alleviated land concentration, and helped the imperial court to manage local money industry, facilitated the collection of commercial taxes, and could also undertake the issuance of treasury bonds, which has many benefits.

But everything has its advantages and disadvantages. What are the disadvantages of Yuan Qi not yet revealed. I personally think that it is better to try Yuan Qi as a pilot, without any need for intentional support or deliberate suppression. Let's observe for two years.

If Yuan Qi does have more benefits than disadvantages to the court, provinces can be encouraged to imitate Yuan Qi and monopolize the money industry of a strong bank. In this way, the court can easily control the local money industry and the scale of government bond issuance can also be greatly increased.

As for the detailed understanding of the train, railway, treasury bond issuance, etc., you can report it carefully by Deng Tingzhen, or you can send someone to Guangzhou to talk to Yi Zhizu in detail."

After hearing this, Daoguang looked up and thought for a moment before saying, "If you want to govern a big country, if you cook a small country, you will be too anxious and things will go against your wishes. Just wait and see for a year or two, and it is not impossible. However, Yuan Qi unified the local money industry and lended low interest rates. There are many opponents of the senior officials in the court. If you ignore it, Yuan Qi will be suppressed."

"The emperor is wise." Pan Shien bowed and said, "Yuanqi Bank has loaned at a low interest rate, and has made countless enemies, but it is related to the success or failure of issuing treasury bonds and building railways. Even if you have to wait and see, you must take a little attention to it to demonstrate the court's kindness. The poor ministers secretly believe that the "Traditional Debts" should be published in the newspaper, and the Thirteen Lines should be introduced into the train and railway for detailed investigation. If you are content with the great shopkeeper of Yuanqi, you should reward them with a false title to show the court's grace."
Chapter completed!