Yuan Qi actually wanted to issue paper money? And it was issuing paper money nationwide in the Qing Dynasty! Daoguang was a little unbelievable for a moment. He really didn't expect that Yuan Qi had such great ambitions. Once the paper money issued by Yuan Qi was circulating nationwide, Yuan Qi would be like squeezing the neck of the court. At that time, even the Qing emperor would have to look at Yuan Qi's expression!

What is paper money? To put it bluntly, it is paper. The former Ming Dynasty court also issued paper money - the Ming Baochao, which eventually depreciated into waste paper, but the court made money in the end. Yuan Qi issued paper money. Once it depreciated, the one who made money was Yuan Qi, but the court took the blame and cleaned up the mess!

This is obviously impossible. Daoguang thought to himself that even if he wanted to issue paper money, it would have to be the court, and it would not be Yuanqi! However, what made him wonder was that Yi Jingshi was familiar with the financial economy and could not be unclear about the pros and cons of Yuanqi's issuance of paper money. Why did he still raise it? England, what was the matter with Citigroup's issuance of paper money? What was the relationship with life-dead bonds?

Yi Quezure is just taking this opportunity to test Daoguang's reaction to issuing paper money. Daoguang predicted that disasters may occur in the future and the court would find it difficult for him to deal with it. This made him feel that this was a rare opportunity and might impress Daoguang. If Yuan Qi could issue paper money in the Qing Dynasty, it would be easier to promote paper money in a number of vassal states.

On the other hand, it was difficult to issue paper money in the vassal states first, and then promote it in the Qing Dynasty. It was not unusual and took a long time. He couldn't wait now, so he wanted to try lobbying as soon as he took the opportunity, but when he said that, he was still a little nervous.

After a while in the warm room, Daoguang said, "What's going on with the Bank of England? Let's talk about it in detail."

After hearing this, Yi Zhizu secretly breathed a sigh of relief and quickly cheered up: "If you want to talk about the Bank of England, you have to talk about the British royal family. The relationship between the two is closely linked.

Before the establishment of the Bank of England, due to the war, the British royal family needed a large amount of military expenditure, so they tried every means to borrow money from wealthy merchants and gentry, printed a large number of bonds and sold them directly to gentry merchants, promising to pay interest, and allowing merchants to use such financial bonds to pay taxes.

The term of these loans was very short. Before the war ended, the British royal family was unable to pay interest at all. After several failures to fulfill their interest payment commitments, the gentry and merchants were no longer willing to pay for fiscal coupons. As a result, the British royal family was at a loss.

It was in this case that more than a thousand gentry and merchants in England raised millions of pounds to establish the Bank of England, and raised funds from the society, and then lent the money to the British royal family at an annual interest rate of 80 cents.

In fact, the Bank of England is an intermediary between British gentry and merchants, the people and the British royal family, and a credit agency. In the past, the British royal family borrowed private debts, which was a separate agreement. The rules were opaque, and the royal family was prone to violating regulations and not fulfilling their promises.

With the Bank of England, it means that the British royal family is doing business with the Bank of England, formally signing a contract, doing business in business, and restricting each other......"

After hearing this, Daoguang became extremely interested. Now the Qing Dynasty is facing such a dilemma. He wants to issue national debts and repay Yuanqi. The court issued national debts by itself, but no one is willing to buy them. What he is afraid is that the court will not fulfill its promises. Whether it is a gentry or a merchant, he is unwilling to have debt deals with the court. Not to mention them, even ordinary officials are the same.

Seeing Yi Zhizu moved his knees, he raised his hand and said, "Give him a seat." After waiting for Yi Zhizu, he sat down, he asked, "How can the Bank of England and the British royal family restrict each other? Why are you not afraid that the royal family will not fulfill their promises?"

"The so-called mutual constraints refer to the issuance amount and credit of banknotes." Yi Zhizu Kankan said: "The Bank of England has raised funds for a long time to provide loans to the British royal family. In return, the British royal family granted the Bank of England the right to issue banknotes.

Although the banknote issuance rights, the Bank of England cannot print and issue paper money at will. It must issue paper money based on the amount of life-time bonds of the British royal family and the total capital of the Bank of England itself. This is based on maintaining the credit of the banknotes. Whether it is the British royal family or the Bank of England, they do not want to see the depreciation of the banknotes and the collapse of the credit."

After a pause, he continued: "The British royal family borrowed and issued life-time bonds from the Bank of England, which were mortgaged by the state's taxes. As for why they were not afraid of the royal family not fulfilling their promises? The reason is very simple. The Bank of England does not need the British royal family to repay the loan at all, but only the royal family needs to repay the interest every year."

Although Daoguang had a little understanding of it, he finally understood that the Bank of England could not issue pounds at will. The amount of pounds was determined based on the issuance of life treasury bonds and its own total capital. In other words, the pounds had extremely high credit and would not depreciate at will, and would not have any situation like the Daming Baochao.

After pondering for a moment, he said: "The meaning of Guocheng, Yuanqi will issue paper money based on the amount of lifeless treasury bonds issued by the court and the total capital of Yuanqi himself? Is it supervised by the court?"

"The Emperor's clarification." Yi Zhizu hurriedly said: "It is the common responsibility of the court and Yuan Qi to maintain the credit of paper money. Once the credit of paper money collapses, the biggest victims will be the court and Yuan Qi."

Daoguang said with some confusion: "The biggest victim of banknote credit collapse should be the court, and Yuan Qi should be the beneficiary, right?"

"For banks, reputation is the most important thing." Yi Zhizu said in a deep voice: "Once Yuanqi's banknote credit collapses, Yuanqi will go bankrupt, which is something that Yuanqi cannot tolerate! In addition, Yuanqi's banknote credit collapse will not benefit Yuanqi at all. The banknotes issued can be exchanged for cash in at any time at all semicolons of Yuanqi Bank.

If a credit crisis occurs, you will inevitably encounter a run! Once you encounter a large-scale run, Yuanqi will inevitably go bankrupt. For his own considerations, Yuanqi will not tolerate any measures that damage Yuanqi’s banknote credit.

The same is true for the court. If Yuanqi’s banknote credit collapses, the credit of the court will also collapse, and the losses will not be small. Once Yuanqi issues paper money, the taxes collected by the court will be paper money."

After pondering for a moment, Daoguang said: "In other words, if Yuan Qi issues paper money, Yuan Qi will be the official bank of the court?"

"Yuanqi performs the duties of an official bank, but cannot be an official bank." Yi Zhizu explained: "Yuanqi itself plays the role of a credit intermediary. If he becomes an official bank, Yuanqi's credit will be questioned! Therefore, Yuanqi must be a private bank, so that he can be a party with different interests from the court, ensure the fairness and safety of the transaction, and have good credit!"

This is not unreasonable. Daoguang immediately lost the idea of ​​turning Yuanqi into an official bank. I have to say that this proposal made him a little moved. Allowing Yuanqi to issue banknotes for the court means having a strong financing and lending bank, no longer having to worry about the bank, life-long treasury bonds - this does not require repaying the principal, only interest is required. If life-necessary treasury bonds can be issued in large quantities, all the troubles can be solved!

Thinking of this, he asked casually: "How many life-time national debts can the court issue?"

"This depends on the annual income of the court." Yi Zhizu said without thinking: "Life-free national debt requires the court to use tax revenue as collateral. The court can pay as much interest as the court can issue. Based on the current situation of the court, it is more than enough to issue another 30 to 50 million."

Daoguang was happy and then worried again. He pondered for a moment before saying: "The amount of national debt issued by the imperial court is getting bigger and bigger, and the interest required to be paid is getting more and more. If this continues, isn't it... to drink poison to quench thirst?"

Yi Zhizu smiled, "If the court authorized Yuan Qi to issue paper money, the amount of life-time government bonds issued by the court must be reviewed and approved by Yuan Qi. For the sake of the court and Yuan Qi himself, it will never cause a financial crisis in the court. Moreover, with the rise of industrial development, the annual income of the court will no longer be fixed, but will increase year by year, and there will definitely be no situation of drinking poison to quench thirst."

This is true. Daoguang nodded slightly. Since the development of Yuanqi, it has added millions of taels of silver to the court every year. With the construction of railways and the development of local industries, the annual income of the court is no longer the same as before, but will gradually increase. Isn’t the reason why he indulged Yuanqi at the beginning because he saw the possibility of increasing taxes from Yuanqi's development?

Although he was very moved, the matter of granting Yuanqi to issue paper money was too great, so he did not dare to make a decision rashly. He had to discuss this matter carefully with the ministers. Thinking of this, he ordered: "Kneel down and wait, and go back and write down a detailed copy of Yuanqi's issuance of paper money."

Is this going to trigger a court discussion? Yi Zhizu was overjoyed and quickly stood up and saluted, "I respect the order!"

After coming out of the Qianqing Palace, Yi Zhi was brisk and full of joy. If Yuan Qi could get authorized by the imperial court to issue paper money, it would be twice the result with half the effort, which was far better than being sneaky. The most important thing was time, which could save a lot of time. Yuan Qi could quickly launch paper money in Guangdong, Jiangsu, Zhejiang and Zhili Beijing, and it would be able to be circulated in various provinces across the country in less than a year. It seems that he had to bring a letter back to Guangzhou and instruct Wei Sanwei to expand the scale of the printing factory.

In addition, several bigwigs who have exchanges in the capital have to visit and lobby. This is not a trivial matter. It is best if they can lobby and support them strongly. If there is a big controversy, the matter may be put on hold again.

After leaving the palace, Yi Zhizu did not return to the mansion, but left the inner city and went straight to the Dashilan on the west side of the front door. Jin Ling made an appointment with him as a theater - Qingleyuan.

Yi Zhizu doesn't like watching plays. The reason is very simple and I can't understand it. Besides, it's boring to watch it. However, he knew that there were many Beijing theaters, many people who liked to watch plays, and there were also many drama fans. Even among the royal family, Jueluo, there are many old drama fans who can be called old drama fans and old drama bones. They not only like to watch but also sing. This is because of the lack of entertainment.

There are many theaters in the capital, but they are all distributed in the outer city. Most of the theaters with a little more famous ones are concentrated in the Dashilan area. Although most bannermen like to watch operas, there is no theater in the inner city. This is because theaters are not allowed to be opened in the inner city. Since the reign of Emperor Kangxi, the Qing imperial capitals of various dynasties have repeatedly ordered that theaters are not allowed to be opened in the inner city.

Dazhalan is the most prosperous and lively street in the outer city of the capital. It is said that it is not long, but it is only 300 meters long and is barely wide. However, eight large theaters gathered on this street that is only 300 meters long. It is impossible not to be lively.

Yi Zhizu was in a good mood. He got off the carriage at the intersection of Meishi Street and Dashilan, and walked all the way, feeling the prosperity and excitement of Dashilan. Speaking of which, he had not been shopping so leisurely for a long time. It was inconvenient in Shanghai. Moreover, there was nothing to visit in a small county in Shanghai, let alone Dinghai. Guangzhou can be visited, but there were too many things and he couldn't find time at all.

Looking around, I went to the gate of Qingleyuan. Fuqing, who had been waiting outside the door, quickly came up and said with a smile on his face: "The Lord is here. Mr. Jin is on the second floor. Please come with the younger one."

This Fuqing is the servant in front of Jin Ling, and Yi Zhizu is recognized. He has dealt with him in Guangzhou. When he first met Jin Ling, it was the trouble caused by this slave. He immediately said nothing and followed him into the door.

The seats in the theater are divided into official seats, pool seats, and scattered seats. The seats are in the second floor corridor. There are three or four official seats in each side corridor. In fact, they are isolated private rooms, which are the best seats in the theater. The private rooms that are easy to enter are easy to enter. Jin Ling only looked back at him and said, "Brother Guocheng is here, watch the show first."

However, Zaitong, who was dressed as a man, suddenly saw Yi Zhizu appearing in front of him. He was happy and panicked. After he hesitating for a while, he stood up with a blush and bowed, "I have met Brother Guocheng."

Seeing that she was shy, Yi contentedly smiled, "Isn't disturbing you to watch the show?"

Zaitong didn't know if the other party knew her identity, whether she was standing or sitting, nor did she know what to say. For a moment, she was in a mess and was at a loss, and her face turned redder.

Seeing this, Yi Zhizu quickly pointed to the stage and said, "Watch the show, watch the show." As he said that, he turned around and retreated to Fuqing, moved a chair by himself and put it down next to Zaitong. After sitting down, he whispered: "Don't think about it, I asked Jinling to come out specially."

After hearing this, Zaitong suddenly became even more angry. It turned out that the other party had known her identity for a long time. When she thought of seeing the other party at the inn before, she was so embarrassed that she wanted to leave here quickly. Yi Zhizu continued to ask: "I like watching opera?"

Zaitong nodded and shook his head quickly. However, Jin Ling couldn't see it and rescued her: "Do you still want someone to watch the show?"
Chapter completed!