Magnet and Fuld were relieved at the same time when they heard that Jérôme Bonaparte requested that an additional value-added tax be added to the original luxury goods tax instead of a movable property tax/personal income tax.
For the people of Paris, and for France as a whole, the establishment of every "new" tax meant the beginning of tyranny.
French rulers in the past generations used bloody ruling experience to warn the next ruler that it is best not to introduce new taxes until social conflicts intensify out of control.
Adding value-added tax to high-end luxury goods is one of the best taxes among all taxes. Jérôme Bonaparte is also convinced that this policy is an effective method. It was originally planned for the Third Republic in history.
Thiers relied on the policy of increasing additional taxes to raise the economy to the pre-war level of 1869, which was even 1.1 billion francs more than the central fiscal revenue in 1869. The market also prospered because of this policy.
[ps: In 1869, the central fiscal tax revenue was about 1.9 billion francs, in 1870, the central fiscal tax revenue was 3 billion francs, and in 1871, the tax revenue was 3.1 billion francs.]
However, during the Third Republic, Thiers imposed an additional tax of 20% to 50% on each high-end luxury product. Jérôme Bonaparte considered that the economic strength in 1852 was far less than that in 1871.
, so the collection of additional value-added tax has also been cut in half on a historical basis.
"If the tax on high-end luxury products such as tobacco is increased by 10% to 25%, how much tax can France increase every year?" Jérôme Bonaparte asked Magnet and Fuld.
"Based on last year's tax collection on high-end luxury products such as tobacco, it can increase France's tax revenue by about 400-500 million francs!" Magne cautiously responded to Jérôme Bonaparte, and then added: "If
Taking into account other aspects, it will increase fiscal revenue by approximately 300-400 million yuan!"
"300-400 million!" Jerome Bonaparte subconsciously touched his chin. After thinking for a moment, he asked again: "What is the current situation of our country's national debt?"
"As of now, our country's national debt is about 5 billion francs! Compared with the entire market, our country's national debt still has a lot of room!" Magne responded immediately.
"Considering that sufficient time needs to be set aside for the additional value-added tax, the Ministry of Finance should be prepared to sell government bonds at any time!" Jérôme Bonaparte pointed to the ceiling above his head and said decisively: "The French economy is not good.
There can be turmoil, and the French army cannot be turbulent! If these two Optimus Pillars collapse, then the whole house will be in danger, and we who stay under the house will also have no way to stay out!"
Although Jérôme Bonaparte's words were somewhat alarmist, Magnet and Fuld were not willing to see the Second Empire collapse. They had invested too much effort into this new empire.
Political investment alone cannot be measured in terms of money. Now that it is finally time to reap the results, there must be no mistakes.
Magne hurriedly assured Jérôme Bonaparte that the Ministry of Finance would draw up regulations for the issuance of national debt as soon as possible.
Fuld, who was sitting aside, also assured Jérôme Bonaparte that he would mobilize the shareholders of the Bank of France to acquire the national debt sold by the Ministry of Finance to the society.
"No need!" Faced with Fuld's idea of asking banks to take over the national debt, Jérôme Bonaparte shook his head and refused: "This batch of national debt will still appear on the Paris Stock Exchange. We want all French citizens to be able to
Purchase Treasury bonds.”
Immediately, Magnet asked Jérôme Bonaparte about the amount and type of newly issued government bonds (long-term or short-term bonds).
After some careful consideration, Jérôme Bonaparte stretched out five fingers and responded: "Mainly short-term government bonds, issue 500 million francs of government bonds to the outside world! The period of the government bonds will be calculated as two years, as long as it can alleviate the urgent needs.
Can!"
"Understood!" Magnet nodded to Jérôme Bonaparte and replied.
"Okay! Is the current problem solved?" Jérôme Bonaparte clapped his hands gently and said to Magnet with a smile on his face.
"Your Majesty, it's hard for the legislative group to explain!" Magne still had a sad look on his face: "500 million francs of short-term national debt... If the legislative group starts questioning..."
"Don't worry! They won't ask! If they ask, just say that I asked you to issue it!" Jerome Bonaparte responded nonchalantly: "Besides, which French government has not issued it?
National debt, it’s just that a little more national debt was issued this year! This is all for the future of France!”
"That's right! We are all for the future of France!" Fuld also nodded and said with a smile.
After receiving the endorsement of Jérôme Bonaparte, Magnet relieved his sadness and smiled again on his face.
After Magnet and Fuld left the Tuileries Palace, Jérôme Bonaparte was the only one left in the study. Leaning alone on the sofa, he shook his head and sighed: "Why don't any of them have any sense of responsibility?"
Yeah! Everything requires me to make a decision before I can take action!"
On August 30, 1852, the Finance Minister of the French Empire submitted proposals for tax reform and the issuance of national debt to the legislative group.
The legislative group, prompted by Jérôme Bonaparte, passed the content of the proposal that afternoon.
Subsequently, the proposal was transferred to the Senate for a second vote.
The Senate also unanimously approved plans for tax reform and the issuance of national debt.
On August 31, the French Ministry of Finance announced via telegram to the citizens of Paris and even France that the first tranche of 1852 national bonds had begun to be placed on the Paris Stock Exchange, with an amount of 200 million francs.
As soon as the news came out, Parisians rushed to the Paris Stock Exchange like crazy. The entire stock exchange was crowded with people, and everyone held large-denomination banknotes from the Bank of France in their hands. They were eagerly waiting.
with the issuance of national debt.
Due to the large resident population of Paris, the Paris Stock Exchange cannot accommodate the tens of thousands of people in the national debt queue. In addition, the crowded crowds can easily cause stampede time and cause a large number of casualties.
So when the Paris Stock Exchange informed the Ministry of Finance and the Emperor about the situation, Jérôme Bonaparte instantly realized the seriousness of the problem.
That night, Jérôme Bonaparte urgently called the heads of the Ministry of Finance, the Ministry of Police, and the Bank of France to the Tuileries Palace to discuss countermeasures.
After discussion, a solution was reached. The first tranche of 200 million treasury bonds was not only sold on the Paris Stock Exchange. All banks, large and small, in Paris could serve as collection points. Police officers were dispatched to each sales point to maintain security.
The news came out in the early morning of September 1, and the crowds surrounding the Paris Stock Exchange cheered after hearing the news. They were no longer afraid that they would not be able to buy national debt.
After the police evacuated, there was no longer any crowd at the entrance of the stock exchange, but there were still some people waiting at the entrance of the exchange.
On the morning of September 1, the Paris Stock Exchange and major banks in Paris opened their doors, and people rushed in to buy government bonds.
In less than a day, the first tranche of 200 million francs of bonds was sold out.
The enthusiasm of the people of Paris for national debt once again refreshed Jérôme Bonaparte's understanding. (After later investigation, it was found that the main force purchasing national debt was mostly European aristocrats living in Paris and slave owners in the southern part of the New World. They treated national debt very well.
The enthusiasm level is even more enthusiastic than that of the locals in Paris.)
While the first tranche of national debt solved most of France's fiscal deficit, it also paid back part of the interest on the previously owed 5 billion national debt.
The entire French Empire once again returned to a prosperous and bright future.
Time flies by and it soon comes to mid-September.
Walewski, who had "disappeared" for half a year, brought "good" news to Jerome Bonaparte.
"Your Majesty, your uncle His Majesty Wilhelm (King of Württemberg) has agreed to our request!" Walewski said to Jerome Bonaparte.
"That's good! Thank you for your hard work!" Jerome Bonaparte patted Valewski's shoulder and said.
"This is what I should do!" Walewski responded humbly.
After two rejections, Walewski finally found a partner for Jérôme Bonaparte and a qualified queen for the French Empire.
Looking back on his journey over the past six months, Walewski feels really tired.
During the conversation with his first marriage partner, the Swedish royal family Katerina Wacha, the conversation failed due to the Habsburg's internal opposition. Walewski, who had been busy for nearly three months, could only say in despair.
Left the Habsburgs.
The second Queen Victoria's niece also faced failure because of Victoria's niece's temporary change, which also took nearly a month.
After that, Walewski went to Prussia to seek marriage.
As the Regent of Prussia, William I politely declined the marriage request and "sincerely" hoped that Jerome Bonaparte could find a suitable candidate.
Subsequently, Walewski visited Baden, Bavaria, and even Liechtenstein, and all of these countries rejected Bonaparte's request for marriage without exception.
Until finally, Walewski, who had experienced several failures, went to Württemberg with the idea of giving it a try.
At first William I of Württemberg, like all previous German monarchs, was unwilling to agree to the marriage.
(I later found out that it was actually for sale)
If it hadn't been for the earnest persuasion of the then Prime Minister and Foreign Minister, King William (King of Württemberg) would have been hard-pressed to let go.
In the end, King William agreed to Walewski's conditions and agreed to betroth his daughter, Jerome Bonaparte's cousin Augusta, to Jerome Bonaparte.
After getting the result he wanted, Walewski immediately asked King William to send Princess Augusta to France. He was afraid that King William would regret it like the others before him.
Again under the persuasion of the Foreign Secretary, King William agreed to let Princess Augusta go to Paris.
