The most important thing for Royal Bank to get on track is to invest or lend out the money at this time. Because the possibility of a large-scale run is extremely small, and the small-scale run of the treasury is easy to deal with, the Royal Bank's monetary base is tentatively set at 2o%.&1t;/p>

Of the deposit of more than 40,000 taels, only 80,000 taels are left as monetary funds, and the rest are all used for investment. Zhu Youxiao and Yang Guorui decided on the second phase of the construction project of the Royal Village. Although the Royal Agricultural Company had the most loans, the Royal Bank still needed to borrow about 10,000 taels from the outside.&1t;/p>

So Zhu Youxiao called Cao Jinyu over again and asked: "Cao Aiqing, does the grain bank still need funds? The bank still has tens of millions of dollars."&1t;/p>

"Your Majesty, for the grain business, the more funds the better. As soon as the autumn harvest is approaching, if there is enough funds, I can send someone to the south to purchase discounted grain. This is another sure-making transaction." Cao Jinyu replied to Zhu Youxiao with some excitement.&1t;/p>

"The southern government's grain discount is indeed a piece of fat! I have done this business." When Zhu Youxiao thought that so much grain was eaten by merchants, the land tax collected by the court in the south every year was about 15 million stones, but the silver he received was only 30,000 taels, which shows the low discount. The official discount of one stone of rice was only about 30,000 taels of silver.&1t;/p>

The agricultural output value of the Ming Dynasty was at least about one billion taels of silver a year, but the court's agricultural tax was only collected at a little bit, which can be said to be an unprecedented low.&1t;/p>

Such low taxes naturally don’t have much money to invest in the construction of infrastructure such as water conservancy and roads. The reason why the north was able to maintain it before was mainly because of the existence of the corvee service system. Corvee service allowed the government to have enough labor to invest in construction, thus maintaining water conservancy and road lamp infrastructure.&1t;/p>

Nowadays, there is a serious problem of water conservancy disrepair in the north, mainly because the corvee system is collapsing. Now people can not participate in corvee, just pay some money. With the emergence of inflation, this amount of money is often only two or three days of wages, while corvee is not only for two or three days. Invisible fiscal revenue such as corvee is gradually being eroded. Moreover, officials who receive the money may not spend money on facility construction, and they may all go into their pockets.&1t;/p>

Now if the north wants to be unchaos, it must first ensure the supply of food. As long as you have food in your hands, the north will not be in chaos and naturally you will not feel panic.&1t;/p>

"Your Majesty, the southern governments have about 150,000 shi of grain discounts per year. According to the average price of 3 taels, all the states and counties purchase only 50,000 kilowatts of silver. However, the key point is how to transport it to the north. If it passes through the canal transport, there will definitely be some loss. This is a practice. Your Majesty also needs to rectify the canal transport first." Cao Jinyu suggested that the loss of canal transport is mostly artificial poaching. For example, if the canal ship is halfway, maybe you will be able to pull down a few bags of grain for you to sell. At the same time, it is extremely common in canal transport.&1t;/p>

"Haha! I naturally have to rectify the grain transportation. As for grain transportation, we will go on the sea." Zhu Youxiao showed an elusive smile on his face. Didn't the merchants in Tongzhou make money by grain transportation? Dare to run the Royal Bank? Dare to support the Donglin Party? They will live a good life next.&1t;/p>

"Sea Road? Your Majesty, this sea road is easily attacked by pirates. At the same time, if there are any strong winds and waves, the ship will be destroyed and people will be killed, and both wealth and goods will be gone." Cao Jinyu said with some caution.&1t;/p>

"Cao Aiqing, the risk of shipping is not that exaggerated. Ships sail along the coast, and strong winds and waves are only a few after all, and as long as they are worn large enough, the wind and waves are generally unthreatening. As for pirates, you can just let the navy fight. Moreover, there are not many pirates along the south and north coasts, and those pirates are basically in Fujian and Guangdong." Zhu Youxiao said with a smile. Pirates are naturally pursuing profitable navigation trade. At present, navigation trade is basically concentrated in Fujian and Guangdong. If you engage in maritime transportation in the north, you basically don't have to worry about being robbed by pirates.&1t;/p>

"There is another thing, the transportation cost of sea ships is lower than that of canal transport, and it is more convenient, so there is no need to consider the problem of river congestion. Instead of putting grain in the canal transport, it is better to transport it to Tianjin by sea."&1t;/p>

"But we don't have sea boats." Cao Jinyu reminded.&1t;/p>

"I will solve this problem. You are responsible for collecting the grain." Zhu Youchao said to Cao Jinyu, who quickly bowed and said, "I obey the order."&1t;/p>

Such a great thing that can go to various southern prefectures and counties to buy discounted grains naturally makes Cao Jinyu very excited. I didn’t dare to think about it before, because it doesn’t matter if I don’t have money.&1t;/p>

Now this money is not a problem. Royal Bank has a lot of money to lend to grain banks. Relationship is not a problem. In terms of background, who can be bigger than the emperor?&1t;/p>

With just one imperial edict, all grain merchants involved in the purchase of grain discounts can be basically driven out of the market, allowing the food service of the people to enjoy a feast.&1t;/p>

After discussing it, the loan scale of Jimin Grain Bank was finally determined, which was 10 million taels. It took money to purchase discounted grains, and at the same time, it also had to purchase the grain in the hands of the people, and expand the business, etc.&1t;/p>

Seeing that the autumn harvest was coming, there was not much time left for the food service of the people. So Cao Jinyu then said goodbye to the emperor and hurried to do the preparations.&1t;/p>

Tens of millions of taels of operating funds are definitely astronomical for merchants of this era. Only a few salt merchants can draw such a huge amount of funds.&1t;/p>

The food industry of the people will quickly become a behemoth.&1t;/p>

The grain business is basically a stable profit. The model of Jimin Grain Business is very simple. The profit mainly depends on the government's low-priced grain discount, as well as the summer and autumn harvests, relying on huge capital to eat a large amount of low-priced grain at a low price.&1t;/p>

In terms of sales, one is to have official orders. The other is to have a monopoly grain retail market.&1t;/p>

The official orders are definitely not likely to lose money. The market monopoly has the tax bureau as a thug, and other grain banks are simply competing, but the right to set retail prices is controlled by the Jimin Grain Bank.&1t;/p>

With such many advantages, it is completely impossible for Jimin Grain Bank to lose money in business. Moreover, due to the advantages of capital and scale, the processing cost and transportation cost of grain will be lower than that of other grain banks.&1t;/p>

Monopoly means rich profits, which is an eternal truth. However, as the most fundamental demand product of the people, the monopoly operation of the Jimin Grain Bank cannot crazily raise the price of grain, but should maintain a stable price.&1t;/p>

At this time, the Jiamin Food and Food Tour will reach out to the southern provinces, which will be a huge leap.&1t;/p>

Jimin Grain Bank borrowed tens of millions of taels of funds, and Royal Bank only had about 30,000 yuan of loan funds left. Zhu Youxiao immediately called the money to discuss the joint venture to form a maritime fleet.&1t;/p>&1t;/p>
Chapter completed!