The emperor's request was quite a lot, and Christopher, the plenipotentiary representative of Citibank, understood it.

"In principle, despised countries agree to borrow from joint bank groups of various countries, but only if they hope that German bank groups can also participate."

"No, no, no..." Christopher's head shook like a rattle. The reason why the three countries joined forces was originally to be jealous of Germany's excessive rights in China. Now that Germany is added, wouldn't it be a stone to shoot himself in the foot?

But Zai Ze did not show any dissatisfaction in anticipation, but said in a slightly puzzled tone: "I just received a call from Lord Liang before I came, saying that the German ambassador strongly requested to participate..."

"This Mr. Liang." Christopher was so angry that he thought that Liang Dunyan was a pro-American faction, but he decided not to reveal anything, but he still exposed the matter.

Zai Ze saw the other party's anxious appearance and felt relieved first, and replied with a smile: "It's not a big deal to Lord Liang. It's really that yesterday when he and the German ambassador were in talks, I called to ask..."

Christopher was so angry that he wanted to jump up and scold him, but he couldn't speak - the other party could explain: I don't know who he was meeting with!

"Article 2: Let's not talk about the amount of the loan for the time being, the subject of the loan is the emperor of the vulgar country. "

"Speaking."

"Since it is a currency reform, this reserve is extremely demanding. I hope that all countries can deliver it in the form of physical gold."

"Your country wants to convert to a gold standard?"

"There is this consideration. But it is not concluded."

"This is probably very difficult." All the major powers adopted the gold standard. Gold directly determines the stability of the currency value and monetary credit. They are the foundations of the monetary systems of major powers. They have extremely strict control over outflows and are still acceptable in small quantities. How can they be used to transfer them to other countries on such large-scale loans?

"What about silver?"

"This is OK." Christopher was very happy. All countries were worried that the silver after the conversion of the primary currency could not be sold. Zaize's proposal was just right.

But let’s wait, Zaize added: “I heard that your country has frequently imported large pieces of silver into various ports, so the despise country borrowed tens of thousands of pieces based on large pieces of silver. In this way, the reform can be said to be easy to make."

The so-called big silver is actually a modern version of Manila silver. That is, the special situation in the United States for commodity exports. Each big silver weighs more than 90% of the silver. Before it flows into the port, it exists in the form of metal rather than currency. However, after the flow into the port, the big silver is melted and then cast into various silver dollars.

Due to the characteristics of coins, silver of the same amount will gain a premium advantage after being minted into silver dollars, that is, monetized silver has a premium advantage over metallized silver. This premium can still make a lot of profit after deducting transportation and minting costs. This is also the reason why there has been enough silver input at that time - this is contrary to the intuitive conclusion that China's silver has been outflowed since the Opium War. In fact, after Western countries completed the gold standard transformation, the total amount of silver retained in China's world has not only not decreased, but is a slow increase process. Of course, China may have a steadily decline in ownership of this part of the silver.

In essence, it is nothing more than that China lacks the corresponding modern currency management system and uses physical currency rather than virtual currency. The country has lost its sole control over the minting of silver dollars. Not only can local governments arbitrarily manufacture molds, but even foreign merchants and foreign companies have obtained this power. Even because of the superb foreigners' skills and quality assurance, the silver dollars they privately minted are extremely popular.

It can be seen from this that the so-called premium advantage is actually the process in which the sovereign states' coin profits in monetization of metal silver are eroded by other interest groups. In the minting of copper coins, this premium advantage is more obvious. Once brass of the same weight is minted into a general-purpose copper coins, it can make about one-third of the profit after deducting the coin fee.

Zaize knew this well, so he proposed the three words "big silver" from the beginning, intending to embarrass Christopher. But what embarrassed Christopher even more was that since the 1880s, the silver price in the international market has been in a downward process, especially in recent years, with a significant decline. Zaizedi's proposal on the surface is very fair: first borrow tens of thousands of large silver, and then return the principal and interest one after another when it expires. However, considering the depreciation process of silver, silver of the same amount may fall a lot in a few years, and the risk is too great.

When Christopher thought of this terrible prospect, sweat emerged: No

Are officials of a country, especially members of the royal family, stupid and ignorant? Are high-ranking officials in power and land greedy for money and treasures? How can they get such a minister of finance? Borrowing silver is definitely a conspiracy! Absolutely!

"Mr. Duke, you can borrow silver, but what currency can you use to convert it? As long as" Christopher is determined to retreat.

—

"Currency?" Zai Ze made a very surprised look, "It is natural to repay the debts, and it is natural to repay whatever you borrow. If you need to repay the silver, does it mean that the debts borrowed by the country now can be repaid with silver?"

Damn it! This is falling into Zaize's trap! Christopher cursed inwardly and could only look for a way to change the topic in embarrassment. Fortunately, Zaize had no intention of asking, and then proposed the third proposition: "Then, the customary country requires the use of the German Mark as the benchmark currency for this quasi-loan loan, borrow Mark and return the Mark!"

"Please be honest, according to the agreement between the Three Kingdoms, we do not want the German banking group to join." Christopher felt that this would not work, so he had to be tough and express the attitude of the Three Kingdoms clearly.

"Yes. The despised country understands the intentions of the Three Kingdoms and respects the position of the Three Kingdoms, but the proposed calculation of the Mark is to take care of the positions of all parties." Zai Ze said, "First of all, this loan involves three countries, but the benchmark currency can only be used in one. In the words of pound, your country and France will not be satisfied. In the words of the US dollar, Britain and France will protest. However, if the currencies of any of the three countries are not adopted, the interests of each country will have a fair starting point; secondly, the loan of the Three Kingdoms excludes the German banking group. I have just said that Germany is also eager to try and is determined to win. If the German mark can be used as the benchmark currency, then the German banking group can participate as a settlement bank. On the one hand, it coordinates the position of the Three Kingdoms, and on the other hand, it also compensates for the inability to participate in the German banking group. I wonder if Mr. Christopher thinks I am right?"

"Is this your country's official reply?"

"Yes. If this condition cannot be agreed, Germany has proposed an alternative, namely, Germany, Austro-Hungarian Empire, and Italy jointly formed a loan group to use the German mark as the benchmark currency to provide this qualitative currency."

"Since your country is so persistent, I can only reluctantly go back and report..." Christopher looked bitter, which was definitely not good news.

"As for the request to supervise the salt administration proposed by the delegation of the Three Kingdoms, the despise country conducted a serious discussion and decided..." Zai Ze said, observing the other party's expression, Christopher raised his ears, fearing that a word would be missed.

"In principle, the customary country agrees with this requirement..." Before the other party could speak out, Zai Ze added another sentence, "But there are five conditions."

"Please tell me." With the lesson just now, Christopher has been quite calm. In fact, as a representative of Citibank, he was originally a veteran who had been working hard for many years. The reason why he was at a disadvantage in the first round was that he was too contemptuous. Now Zaize has forced him to put all his energy into "taking the call".

"First, the benchmark currency uses the German mark with an annual interest rate of 45%; Second, the imperial government hires people from various countries to serve as salt administration officials, and performs their duties as part of the imperial officials. Their work authority is determined by the government of the country and the banking group after consultation. The salary is included in the annual interest rate. The government of the country has the right to remove and dismiss it according to its actual performance, but the vacancies can be replaced by the person in the country; Third, the number of salt administration inspectors should be distributed according to the proportion of loans in each country, and the total amount is limited.

After that, there will be no changes during the loan period; Fourth, the country believes that the salt administration monitor should be linked to customs employees of various countries. If one salt administration monitor is added, one quota for customs employees in each country needs to be reduced, but the ranks of the ranks may not be required. After the customs post is vacant, the Chinese person will replace it; Fifth, the salt administration taxation involves state secrets. If the ombudsman violate the oath and leaks the secrets, the customs government will impose serious sanctions, and the vacancies shall not be replenished by the person in that country..."

Didn’t the emperor have the best plan to interfere in the internal affairs of the empire? Why did he agree to send a salt administration inspector in a blink of an eye?
Chapter completed!