A large-scale and long-term economic crisis that swept the world was on the verge of an outbreak? Yi's heart sank. The Qing Dynasty had just followed the example of Western countries to promote constitutionalism and actively develop industry. But at this critical moment, a large-scale economic crisis came. Is this life worthless?

Although the Qing Dynasty had never had an economic crisis, he still had some understanding of the economic crisis because he had always kept a close eye on the Western powers. A large number of banks went bankrupt, factories went bankrupt, a large number of workers were unemployed, production capacity was sharply reduced, market depression, economic recession, and social turmoil...

If the Qing Dynasty halal large-scale, long-term and serious economic crisis broke out like Western countries, it would definitely be a blow to the Qing Dynasty, which had just implemented constitutionalism!

After a while of silence, he said: "In recent years, economic crises have also occurred in Western countries, but the Qing Dynasty has not yet experienced economic crises?"

"It didn't break out before, because we are not qualified to break out of an economic crisis." Yi Zhizu said while lit a cigarette. "The last economic crisis was the economic crisis that broke out in Britain from 1867 to 1968. It was not very large in scale, and the impact was mainly caused by European industrial countries and the United States.

At that time, although our industry had already reached a certain scale, we made a lot of money through cotton trade in Europe and arms trade in the Americas, and instead carried out large-scale railway construction, port construction, urban construction and basic technology investment, so we did not suffer much impact.

The scale of this economic crisis is far greater than the last time, and it may last for five or six years or even ten years. If we do not take larger investments and construction, we will inevitably suffer a huge impact. Our country has never encountered an economic crisis, which is easy to cause panic. You have also seen the run last year......"

The great harm of the economic crisis that lasts for one or two years is already shocking. What will the economic crisis that lasts for five or six years or even ten years? How great will it be? Yi? I really can't imagine it.

He did not doubt Yishishi's judgment, or did not dare to doubt it. Too many things prove that the other party has judgment and foresight abilities that ordinary people cannot achieve, especially in terms of economy and war, the other party's judgment and foresight has never made any mistakes, and has not even made any mistakes in its judgment and foresight!

After pondering for a moment, he said with some uncertainty: "Can this method really alleviate or avoid the economic crisis?"

Yi Zhizu smiled, "No matter whether it is effective or not, it is not a bad thing to carry out infrastructure construction on a large scale."

"Is it a bad thing for the people, but it may not be a good thing for the court." Yi? said quietly: "The treasury is not rich. Such a large-scale debt to carry out infrastructure construction will inevitably cause criticism. Not to mention the rest, the Supervisory Yuan will not be able to pass the review of that level."

With a light bump, Yi contented and calm down, he said: "The planned infrastructure investment plan is spread across provinces, and it is unique in scale. It is also a huge economic stimulus plan promoted by the court and Yuanqi. Even if the words are made, the provincial parliamentarians will cancel the infrastructure projects in which province. I want to see who dares to object."

"If you let this out, I'm afraid no MPs dare to object." Yi laughed. Infrastructure construction is not only about building bridges and roads, but also about water conservancy construction and urban construction. If the MPs of the Supervisory House really want to cancel the infrastructure plan of their province because of opposing this plan, they will inevitably be scolded by officials, gentlemen and businessmen in the province.

After a pause, he continued: "Since the court and Yuanqi join forces, how much is Yuanqi investing?"

"Given the long-term economic crisis, our economic stimulus plan is naturally not a one-time transaction, but a package of plans that lasted seven or eight years or even the last ten years." Yi Zhizu said slowly: "In the initial investment of 400 million yuan, Yuanqi and the court each had half."

400 million silver dollars? This is still an initial investment! Yi? Although he has not been surprised by the changes in his experience, he was still shocked by this number and said in a lost voice: "How much? 400 million? Where did Yuanqi get so much silver?" He paused, and he said in a deep voice: "Will you not print paper money indiscriminately?"

"What does it mean to overprint paper money?" Yi Zhizu said dissatisfied: "There are strict regulations on the printing and issuance of paper money in Yuanqi. If there is not enough reserves, how dare I issue additional money? Yuanqi Bank's credibility has been accumulated bit by bit over decades, so how could I let it collapse in one go?"

Yi? stared at him and said, "Yuan Qi was so embarrassed that he was only slaughtered last year..." The implication was that where did Yuan Qi raise such a huge amount of money for infrastructure construction?

"No matter how large a bank encounters such a large-scale bank run, it will be in a mess." Yi Zhizu said indifferently: "In the bank run last year, Yuanqi was just unwilling to harm the interests of the Qing Dynasty. If Yuanqi was at the most powerful bank run, who would have suffered losses? Anyway, Yuanqi will not only not lose, but will instead throw away the burden of hundreds of millions of silver."

This is the truth, Yi? nodded slightly. Yi Zhizu had already published "On the Gold Standard" in the newspaper at that time, and the intention of implementing the Gold Standard was already very obvious.

"Although I encountered a rare run, Yuanqi did not harm the interests of the Qing Dynasty for his own interests." Yi Zhizu continued: "Why? Because Yuanqi has sufficient reserves, but not silver, but gold! Yuanqi has the ability to exchange every piece of paper circulating on the market!

In the World War, why didn’t I take the opportunity to extort English? It was to avoid trouble. Yuanqi is now eager to quickly and large-scale mining of Transvaal gold mines in order to implement the gold standard as soon as possible. The task set this year is to produce 100 tons, which will increase year by year in the future.

Just based on South Africa's gold production, how much is worth in a year? With the most conservative annual output of 100 tons, it is 70 million yuan a year. Is it enough to deal with this economic stimulus plan? Is it enough to exchange for additional banknotes?"

Yi? I was so happy that the court owned 20% of the shares of Transva Gold Mine, which means a conservative estimate that the court can earn 14 million yuan a year. For the court, this is definitely a huge additional income!

"Enough, enough!" Yi? nodded with a smirk. Although it was an initial investment of 400 million yuan, it does not mean that 400 million yuan can be spent in a year. With Yuanqi's strength, the issuance of more than 100 million yuan in banknotes a year can definitely be guaranteed to be exchanged!

However, the smile on his face quickly became a little stiff, "Even if it is an annual interest rate of three cents and a loan of 200 million yuan, what is the annual interest rate? Six million? If you add medium-term and late-term investments, the annual interest rate will not be tens of millions?"

Yi Zhizu smiled and said, "Just pay the interest by paying the share of Transvaal gold mine, it will be in vain anyway."

After hearing this, Yi couldn't help but be stunned, "With the Transvaal Gold Mine, the court just holds a name? In fact, even a eldest son can't get it?"

Yi Zhizu turned his eyes and said, "Without the share of Transvaal gold mine, the court would not have to pay the interest on this huge loan?"

Yi? said guiltily: "That's not, but this stimulating the economy itself is not the responsibility of the court..."

"It's not the responsibility of the court?" Yi Zhizu said coldly: "When the economic crisis broke out, how much does the imperial court's annual income have to be reduced? It's not just the income has decreased, but the relief is returned! How big is the gap between the in and out?"

How could Yi? How could he not understand that he simply wanted to reduce interest, "Can the huge loan of 200 million yuan be reduced? This will also facilitate the convincing of a group of cabinet ministers and members of the Supervisory House."

"Your Majesty Gong won't forget that Yuan Qi also paid 200 million yuan!" Yi Zhizu said in a deep voice: "If it is funded by the court, I can make the decision and borrow interest-free."

"Don't interfere." Yi? Waves his hands repeatedly. This is a huge economic plan that makes the court bear it alone. He really doesn't have that courage to cut interest rates anymore, and he doesn't force it. Anyway, the annual interest rate of three points is an unprecedented low interest rate.

"Although this package of economic stimulus plans is mainly intended to avoid an economic crisis, it is actually a rare measure to benefit the country and the people." Yi Zhizu said in a slowing tone: "If the new monarch ascends the throne, he must be grateful to the people. The implementation of constitutionalism is far more than the new monarch ascends the throne. How can he benefit the people?"

After a pause, he continued: "In the name of 'promoting constitutionalism and benefiting the people.', we will promote this infrastructure construction plan and propose the plan to include provincial capitals and cities in the railway transportation network. It can launch the 15th plan, 25th plan, 35th plan... First, it will make public opinion, and strive for the support of public opinion."

Incorporating provincial capitals into the railway transportation network? How big is this plan! I am afraid that it is difficult to achieve the three, five, four, five plans. Yi? He was filled with joy when he was shocked by the hugeness of this plan. This is equivalent to Yuan Qi spending money to buy the hearts of the people for the court and establishing the prestige of the court. As the first Prime Minister of the Cabinet, he was able to withdraw from office and implement such a huge plan, which would definitely leave a strong mark!

After only two days in Shanghai, Yi? hurried back to the capital. On the same day he returned to the capital, he held a cabinet meeting and put forward the "five-year plan". Of course, he would never mention the matter that the economic crisis was about to break out. If this matter was exposed, it would definitely cause great panic.

Because of intentional release of rumors, as soon as the cabinet meeting ended, the news that the court was preparing to spend huge amounts of money to implement the "five-year plan" to benefit the people spread. The so-called "five-year plan" is not just five years, but a long-term plan with five years as a phase. The focus is on gradually integrating provincial capitals into the railway transportation network, that is, all capitals must connect railways. In addition, there are also a series of plans to manage rivers, build water conservancy, renovate capitals in the capital of the capital of each province, etc. The investment in this series of plans will reach an astonishing 400 million silver dollars, and this is just the initial investment!

As soon as the news spread, it caused a great sensation. The Superintendent Yuan was immediately in an uproar. The Superintendent Yuan had the power to supervise and review the court's income and expenditure. Such a big thing was rumored to the capital, and the Superintendent Yuan was still in the dark. Where did this place the Superintendent Yuan?

Most of the members of the parliamentary indignation were from the northern provinces, the Southeast, the South China Ocean, the Northwest, and Southeast Asia were basically silent. It was obvious that the court could not have so much money to implement the "five-year plan". There is no doubt that Yuan Qi was actively promoting this "five-year plan" behind the scenes. Yi? This news came from Shanghai as soon as he came back, and Zhuan Zhuan knew what was going on. To oppose such a huge plan proposed by Yi Zhizu, unless the member of the parliamentary did not want to do it.

Sure enough, a rumor came soon, saying that it was Yi? He made a harsh statement at the cabinet meeting. Wherever the provincial legislators opposed it, they would exclude the province from the "five-year plan".

As soon as the rumor spread, the parliamentarians in the northern provinces immediately lost their temper. The "five-year plan" has been circulating. What would happen if the provinces they are in are excluded from the "five-year plan" because of their opposition? Just thinking about it is heartbroken. The initial investment will be 400 million yuan, and even if it is distributed to each province, it will be at least tens of millions of yuan. How many prefectures, counties, officials, gentry, businessmen and people will benefit such a large project? At that time, all the people will be light, which is to cut off people's and financial channels and cut off the previous journey of a province.

A reporter with a keen sense of smell naturally realized the importance of this important news. Impressions immediately showed their magical powers across the sea and tried their best to ask and interview all the cabinet ministers. After it was confirmed, the next day, newspapers from all over the north and south of the Qing Dynasty published this news on the front page.

Not only was the government and the opposition sensation, but all the embassies in China were shocked by this news. The territory of the Qing Dynasty was so large that even if the British Empire, known as the "Empire of Sun Never Setting", added all overseas colonies together, it was probably not as good as that of the country with the largest territory in the world. Such a big country actually proposed such an ambitious plan, and the initial investment was huge, which was unique in countries around the world!

Britain and the United States, which occupied a considerable share of the Qing railway market, sent telegrams to the domestic market to report this important news immediately. France was naturally not willing to lag behind. After Germany severely weakened its economic strength, France was eager to explore overseas markets, and the Qing Dynasty was the main goal.

Germany, which established diplomatic relations with the Qing Dynasty and maintained friendly relations, cared more about it than Britain, the United States and France, because for Germany, it was an extremely rare opportunity to enter the Qing railway market!

On the contrary, Russia is the most indifferent. Before the Qing and Russian railway was opened, no matter how good the opportunity was in front of them, they could only stare at them. Moreover, Russia itself is actively building railways to strive to connect with the Qing Northwest Railway as soon as possible, and it is powerless at all.

As soon as the news was reported, Yi Zhizu took a boat to Nanyang. He knew very well that as soon as the news spread, the ambassadors and consulates in various countries would come to the door, so he simply went out to hide. This time, the big money to stimulate the economy was to avoid an economic crisis in the country. It was not impossible for all countries to get a share of the pie, but they had to invest in it. He went out to hide, just to stretch them.
Chapter completed!