Now the emperor dares not borrow money, and he can't borrow money. Even his father-in-law Jiading Bo cannot borrow money. Do these people have no money? No, these people have money, but they don't borrow money. After all, the court is like a bottomless pit. Who would want to throw money in? After the fall of the Ming Dynasty, Li Zicheng recovered the stolen money and chased out 700,000 taels of silver. There were 700,000 yuan in the capital alone. But we know that Jiading Bo is very rich. In addition to the current bank, he must have many other industries such as land, real estate and shops.

Liu Jun's plan was also to borrow money, but he borrowed money by issuing bonds. He had interests in bonds. Although there were a large number of money banks at this time of the Ming Dynasty, only a few money banks operated storage business, but many of them not only had no interest income, but also had to collect storage fees and handling fees.

Therefore, the silver in the hands of the Ming people was usually used for loans, or used for property purchases, and finally buried in the underground silver cellar.

Just like Emperor Zhengde's adopted son Jiang Bin, because he had commanded four towns and was also named an earl, and later he was admiring the East Factory and the Jinyiwei. He was very favored by the emperor and had great power. He allowed his feelings to conquer the court officials, embezzled and bribed, cultivated private parties, and valued his family.

Later, Jiang Bin was captured and imprisoned, and his property was confiscated, so he confiscated seventy cabinets of gold, each cabinet of 1,500 taels, 2,200 cabinets of silver, and 1,500 boxes of gold, silver and jewelry. Other treasures were invincible. Jiang Bin had millions of gold and silver hidden at home.

There is also the famous prime minister Xu Jie of Jiajing. He was the prime minister for many years and bought more than 400,000 acres of fertile land in his hometown of Wusong.

Nowadays, people cannot find any good investment channels if they have money. After all, buying land and purchasing property requires a lot of funds, and borrowing people to lend is more risky. In most cases, some scattered funds are still hidden at home and buried underground.

Liu Jun intends to issue bonds, and the bonds are of interest.

"We issue bonds, print bonds and issue bonds, and print bonds of different maturities and different amounts, and then set different interest rates. For example, one-year to ten-year periods, three-year and five-year periods. Different maturities have different interest rates."

"For example, one-year bonds have an interest rate of 10%. If he buys a one-hundred tael bond, he can get a principal and interest of 110 taels of silver in one year. The longer the term, the higher the interest rate. For example, one is ten percent, then three years can be twelve. Five years is fifteen, and ten years is twenty percent. And if it is exchanged before the expiration date, then the interest rate will be reduced. In short, the longer the term of buying, the higher the interest rate."

"Bonds can be printed like treasure banknotes, with different face value amounts, ranging from one hundred coins to one tael, ten taels, and one hundred taels. All bonds are unlicensed and can be transferred and circulated freely. They can be exchanged upon maturity or exchanged in advance, but the interest rate is reduced and some handling fees are charged."

Liu Jun introduced some of the bonds to Chongzhen.

After hearing this, Chongzhen felt a little relieved, "Although there is an interest rate for the bonds, how can the people be willing to buy them? If the people buy them, the deadline is up or the people have to exchange them in advance, so where can we pay the silver?" Chongzhen also understood the essence of this bond, which is to attract people with interest, but in the current situation of the court, how many people will believe in the court? In addition, this interest is also a large amount of silver. Where can the court pay the principal and interest at that time?

Liu Jun smiled lightly. Chongzhen was still too conscious of small peasants and could not grasp the most profitable part of the bond.

"Your Majesty, the credit of bonds is very important. The situation in the court is indeed a bit unsatisfactory now. If you print and sell them directly with the court, there will definitely be many corruption and even credit is not ideal. Therefore, I think that bonds can be found to be a private business that the people have trusted to guarantee the credit and are responsible for printing and issuance."

"That's all?"

"Of course it won't be that simple, but it won't be too difficult. I think this matter can be handed over to the Jiangnan Money House as a guarantee. Jiangnan Money House is a money bank that provides money to assist in the salary and coupons, and now it has a good reputation. We can use Jiangnan Money House as a guarantee. As long as the world knows that our bonds are redeemable at any time, then people will naturally buy them with the attractive interest of the bonds. There are so many people in the world, and they will accumulate a lot of them, and they will definitely be able to sell them."

"Bonuses, bonds." Chongzhen murmured, a little hesitant.

At this time, Liu Jun said, "I dare to assure Your Majesty that at least 500,000 can be sold in the first month." In order to win the bond, Liu Jun planned to throw out some tempting things first. He didn't believe that Chongzhen would not be moved.

Sure enough, Chongzhen was moved when he heard Liu Jun's promise. If the bonds could be sold, not to mention five million, or two million, it could greatly alleviate the predicament of the court.

But he still has one more worry.

“How to repay?”

"Your Majesty doesn't have to worry about this. As long as the bonds are sold, the more they sell, the less they need to worry about. Because bonds have a term, maybe some people will repay them before they mature at the beginning, but not too much. And when they find that they can repay them, they will regret the lost interest, and most other people will definitely not be in a hurry to repay them before they mature."

"Our bonds are three years, five years, ten years and four periods, and the fastest one is also one year, which means that most bonds will not be redeemed in the short term. Our bonds can be sold every year, and the newly sold bonds will be used to pay the previous maturity redemption. In this way, the court can always occupy a large amount of bonds without worrying about repayment, because most bonds will not be redeemed in the short term."

This is similar to demolishing the east wall and repairing the west wall, but the difference is that as long as the bonds retain their credit, they can be issued all the time. Because bonds have a term and are limited to years, the more money they come in from the back, the more money they roll in. Like banks, they absorb savings deposits and then borrow. As long as they keep some of the deposits for payment and withdrawal, they can use most of the deposits to borrow and make profits.

In fact, in later generations, which country has no deficit? This is like companies in later generations. The bigger the company, the more you develop, the more you know how to use bank loans to develop, or simply go public and make money to develop, and rely on your own capital to develop, which is too slow.

Unless a credit goes bankrupt and a run occurs, this leverage can continue to play.

Liu Jun threw out the bonds not to get how much money he could get. He was interested in something more important. Liu Jun planned to use the opportunity to apply for bonds for the court to establish a bank, a bank supported by the court, and establish a semicolon in various places. He absorbs deposits, borrowing, even coins, exchange and other businesses.

The speed at which a bank makes money is terrifying. More importantly, if you can really own such a bank, it will not be as simple as making money.

Chongzhen was half-believing and half-doubted about what Liu Jun said, mainly because he didn't understand it very well. But he also felt that the prospects were good, and the most important thing was that the court was too poor and needed money urgently.

"I'll leave this matter to you."

"I am willing to share your worries for Your Majesty, but if this matter is left to me, I would like to ask Your Majesty to give you some concessions."

"you say!"

"First, when the bond printing and issuance issuance, the court can send people to supervise it, but it must not interfere in management."

Chongzhen thought about it and expressed his support for Liu Jun. As long as he had the right to supervise, it was enough. After all, this bond was the first time to do it. Sending someone who didn't understand to participate in the management will easily make things worse.

"Secondly, the bonds are guaranteed and sold by Jiangnan Money House. After the sale, a 5-thousandth share must be deducted."

This requirement is also reasonable. Chongzhen calculated that if he could really sell five million bonds a year, he would only have to pay 25,000 taels of silver. Compared to the huge sum of five million, 25,000 is not much.

"Yes." Chongzhen nodded, "Is this share enough? Jiangnan Money House can't let them lose money even if they do things for the court."

"This is to do business for the court, and it is enough to charge some operating costs. How can you still make money from it?" Liu Jun said.

Chongzhen felt very relieved, so he stood up and patted Liu Jun on the shoulder, "I originally wanted to keep you in Beijing for more time, but since you are asked to apply for this bond, I won't keep you in Beijing for more. It's important to have a bad deal. If the bonds are not sold well, I can issue an order to let wealthy families all over the world subscribe to the bonds."

"Your Majesty, you must not. If the court directly issues an order to allow wealthy families in the world to subscribe, then you are afraid that the credit of the bond will plummet. I am afraid that no one will dare to buy it. I'd better hand the bond to the minister and hand it over to the Jiangnan Money House and use commercial methods to get this done."

Chongzhen sighed and said, the credit of the court was so bad that he had to use private trade names to guarantee the issuance of bonds, and he didn't even dare to use the name of the court.

"I'm relieved to leave this matter to you." Chongzhen was silent for a while, and then said, "But this matter is only handled by the way. Don't forget the most important task. After returning to Huguang, remember to step up training of troops, and at the same time, don't forget to rectify the garrison and clean up the military farms. Next summer, you have to send troops to Liaodong on time."

"I understand that this time I go back to Huguang, I will handle the matters seriously, and handle the training, preparation for war, rectification of the garrison, and clearing military farms, and handling bonds."

"I believe you can do it well."

Liu Jun and Chongzhen left the study room. Several of the commissars and officials in the hall outside waited for a long time. They were all talking about what the emperor and Zhennanhou were talking about. After talking for so long, when they saw the two of them come out, they secretly looked at their expressions. Seeing Chongzhen's happy expression, Liu Jun was also smiling and extremely surprised.

"Okay, I'm going back to the palace, you don't have to send it away." Chongzhen said, pulling Liu Jun's arm in front of everyone.

"I respectfully send Your Majesty back to the palace!"

At the morning court meeting the next morning, the emperor issued an order to promote Liu Jun to the left governor of the Left Army Governor's Office, and to be appointed General Jinwu and the Right Pillar Kingdom. He was given the name Zhu Ciye and accepted it as the emperor's adopted son and recorded it as a naturalized person.
Chapter completed!