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Chapter 2032, big bankruptcy

Before this, the gentry class of the Ming Dynasty basically relied on the many fields in their families to support themselves. The fields were fixed assets. Although the output throughout the year was very limited, no one had any debts.

On the contrary, with development, the gentry class owned more and more land. Gradually, in many places, the land of the entire county may belong to a few large gentry families.

In such a situation, what they have to do is very simple. One is to continue to support the children of the family in studying, take the imperial examinations and become officials, and then continue the glory of the family.

The other is to continuously annex more land, because only by mastering more land can we collect more rent and the family can control more wealth.

Under such a model, land is the most important thing and the core asset. When everyone has money, they use it to buy land or bury their money in the ground.

But now with the rapid development of capitalism and colonialism, everyone has seen another way to get rich quickly.

That is setting up factories, trading houses, colonizing overseas, etc. Especially setting up factories does not require much land, but requires a large amount of capital investment.

With the start of the machine, money flowed in like running water. In a very short period of time, the emerging capitalists surpassed the previous gentry class, surpassed their accumulation for generations, and quickly became the richest people in the Ming Dynasty.

The emerging capitalists are expanding aggressively. Although they are very rich, they still continue to borrow money from banks and use the borrowed money to rapidly expand more factories and involve more industries.

Wealth is like a snowball, rolling rapidly and becoming larger and larger. The gap between the traditional gentry class and them quickly widens and becomes wider and wider.

At the same time, with the Ming Dynasty's external expansion, a large amount of territory was incorporated into the Ming Dynasty, and the population of the Ming Dynasty immigrated overseas and outside the customs, which intensified the collapse of the traditional gentry class.

The land in their hands is gradually uncultivated, and the grain handed over by tenants is becoming less and less valuable. Because the grain output in overseas and other areas has begun to grow explosively under the mechanized farming model, the price of grain has gradually dropped.

The traditional family tradition of farming and reading has gradually declined and cannot adapt to this new era, which in disguise has promoted the gentry class to gradually move closer and develop towards the capitalists.

More and more people, whether they are capitalists or traditional gentry and bureaucrats, are slowly integrating into the new social development, opening factories, setting up trading houses, and colonizing overseas.

They no longer save some money and bury it in the ground to use it slowly as before, but like the capitalists, they start to expand crazily. What will they do if they don't have money?

Loans, the loans from the First Bank of Ming Dynasty are absolutely very cheap in this era. You must know that private lending has always been a nine-year-old loan, which is still conscientious.

The interest rates on loans from the First Bank of the Ming Dynasty are even lower, with annual interest rates less than 10%. What capitalists like most is bank loans, with low interest rates. In this era of rapid development of capitalism and the industrial revolution.

Once you get the money, you can make money quickly and repay the loan casually.

Who would act like a fool and bury money in the ground?

At least it needs to be deposited in the bank, and there will still be a few points of interest this year.

Seeing others taking money from the bank to build factories and quickly turning from poor to rich, even the most conservative people can't help but follow suit.

After I tasted the first bite of the cheese of capitalism and the industrial revolution, I simply couldn’t stop. There were more and more loans, and factories, businesses, etc. were getting bigger and bigger. Invisibly, just like the enterprises of later generations, liabilities and cash

Flow has become the most important thing.

Once a certain link is broken, a seemingly huge industry may collapse in the blink of an eye.

At this moment, the same is true for the industries of these old-school officials.

They originally just saw a lot of benefits, and wanted to rely on their power to redivide the cake, gain more shares, and want to catch up from behind.

But he didn't expect that his family's seemingly huge industry would actually have such a fragile side. It would be completely destroyed by the First Bank of Ming Dynasty, and it would suddenly collapse.

Soon, the conservative faction sent a signal of surrender to the hard-working faction, not mentioning matters such as oil and gold mines being taken over by the imperial court.

If we mention this matter again, people may die. The gold mine owners, silver mine owners, and oil field owners here in Huanghuangzhou are not good people. They have already given warnings, but if they continue to be stubborn, it is estimated that by then,

More people will die.

Even though the chief envoy of Huangjin Continent is investigating the matter thoroughly, he has searched again and again, but in the end there is no result. There is no way, you can't check the right hand with your left hand. Who among these officials in Huangjin Continent doesn't have any money?

Mine, gold mine, oil field?

At the same time, you will no longer mention the suppression of Xinxue. If you mention this matter again, your factories and trading houses will be wiped out, and those Xinxue people will no longer be willing to work for you?

Who will provide you with technology, repair machines, etc.?

The news reached Liu Jin in his hometown as soon as possible.

"Are you giving in now?"

"Sure enough, the butt determines the head!"

"The industry in this family is the most important. As for the family, the country, and the world, it is not important at all to people like them."

"I try to rely on my power to redistribute the cake, but I don't think about how to make the cake bigger and stronger."

Liu Jin couldn't help but laugh when he looked at the latest telegram.

These traditional civil servants have always been like this. It is difficult to make the cake bigger and stronger, but it is much easier to divide the cake when they have the power in their hands.

It's just that times have changed. Not only has the emperor enjoyed the greatest dividends of the times, but the following military officers and nobles and civil servants have also enjoyed the dividends of the times.

If you touch everyone's cake, you will naturally face opposition from everyone.

There are many things that Liu Jin does not need to give orders to, and everyone knows how to do them.

Thinking about what happened here in Huangjinzhou, Liu Jin had no intention at all, and they had already launched a counterattack themselves.

If these people in the government and the opposition are still stubborn and determined to suppress Xinxue, and still want to rely on the previous methods to snatch the cake.

Even if the court cannot defeat them, if this situation continues to develop slowly, a bourgeois revolution will inevitably occur.

The new bourgeoisie will not just watch their interests being expropriated. They have grown up and are no longer the small seedlings they were before. They have become towering trees, taking root in the soil of the Ming Dynasty.

"It's no use being soft, I have to teach you some lessons."

"Notify them and don't give them a chance."

Liu Jin thought about it and decided not to give them any chance.

Even if he encounters a fierce counterattack from these people, it doesn't matter. Liu Jin believes that the current power of the bourgeoisie can easily overwhelm them.

What's more, Emperor Hongzhi, who benefited the most from both the government and the public, never expressed any expression. Things that really touched the interests of Emperor Hongzhi would never get his consent.

So, there is nothing to worry about, nothing big will happen.

There are also a very large number of hard-working officials in both the government and the public, and they also have the support of military generals and noble groups.

The atmosphere in the court changed quickly, but what the conservative officials didn't expect was that the hard-working group didn't intend to let them go.

Soon, the Daming Daily began to report that some relevant factories and commercial banks were cut off from funds and could not pay workers' wages.

All of a sudden, the conservative officials were also extremely busy.

In order to raise funds, I had to start selling off the family's assets continuously. A large number of fields, real estate, shops, etc. passed down by my ancestors were sold at a low price.

However, this was a constant source of shortfalls for them, and the antique calligraphy and paintings, stocks, shares, etc. in their home also began to be sold off continuously.

The entire Beijing-Tianjin area and even the Ming Dynasty knew about the situation of these conservative officials.

Liang Shangshu, who used to ride a car to go to and from court, now rides a bicycle, which is called exercise. At that time, he was reluctant to even hire a horse-drawn carriage because his family really had no money.

You must know that even women's gold and silver jewelry are being sold at home in order to raise enough funds to preserve the most important core asset.

However, these old-school officials have offended too many people now, especially the emerging bourgeoisie and colonists, who are the richest people.

If they offend these people, even if they sell off their assets cheaply, there are only a few people who dare to take over. Especially for big assets such as factories, oil fields, and commercial banks, ordinary people cannot take over, only those with strength can.

Ability to take over.

But now that everyone is targeting them, naturally no one will take over.

The conservative officials could only watch helplessly. Even though members of their own family had sold off almost all their assets, they still could not collect enough funds. They could only watch helplessly as the bank transferred their family's assets to the bank.

Factories, oil fields, businesses, land, gold mines, etc. were confiscated.

Almost overnight, these old-school officials went bankrupt one by one, like featherless roosters. The huge wealth accumulated by the family for generations disappeared in the blink of an eye, and they could only watch others enjoy the good things.

But my family is able to eat bran-thick vegetables.

Even the women in the family, all of them were originally glamorous and wealthy, but now, all of them have sold their gold and silver jewelry and can't leave the house. It's really embarrassing.


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