Chapter 689 Why should I pay back the money I borrowed?
Taxes were deposited directly into the Royal Bank, and officials' salaries were paid with Royal Bank's silver notes. This also led to a rapid increase in the Royal Bank's gold and silver reserves!
It had just started business, and the bank deposits already exceeded 15 million taels, and this number was still rising rapidly. When several heads of the Royal Bank came to Li Xuan to report with reports compiled from various places.
, Li Xuan could even notice that their voices were trembling when they spoke.
There is no way, the Royal Bank's ability to attract money is really amazing. Less than a month after it opened, it already had 15 million in silver deposits. A year later, the scale of this bank deposit would still be huge.
It broke through to tens of millions!
That's tens of millions. Even if not one tael of the money actually belongs to the Royal Bank itself, the money is now in the hands of the Royal Bank. And considering the circulation and exchange issues, in fact, as long as the Tang Dynasty
If it does not close down, the deposits in the Royal Bank will not be less, and it will become more and more!
This means that bank deposits these days do not need to pay interest, and even deposits have to pay handling fees. Otherwise, the Royal Bank does not know how much interest it will pay for such a large deposit.
But letting so much cash sit idle in the bank is absolutely against financial rules!
This money must be loaned out to earn interest!
Even if 30% of these deposits need to be turned over to the central treasury of the Finance Department of the Ministry of Taxation as bank guarantee, there is still 70% that can be used for lending!
If you lend this money, you can earn interest!
What's even more amazing is that even if the Royal Bank lends money, most of the money it lends is banknotes. To put it bluntly, it's just a piece of paper, and the money is still in the Royal Bank.
In other words, as long as there is no run, the Royal Bank can use these gold and silver to issue several times more silver notes!
To the Royal Bank, a banknote is just a piece of paper printed by itself with anti-counterfeiting functions. You can print as much as you want, but to the outside world, this is money, and it can be exchanged for real gold and silver from the Royal Bank.
Money!
When they figured this out, they were all frightened!
According to this operation, even if a run is prevented, the Royal Bank can issue 30 million or even 40 million banknotes with the existing more than 10 million taels of banknotes. It is not impossible to even issue hundreds of millions of banknotes if it is bolder.
ah!
Li Xuan sighed a little at the surprise of people like the Financial Department and the Royal Bank. These people's vision is still not broad enough, and they are not courageous enough. They are just over-issuing banknotes. It scares you. And the over-issuance of banknotes is just a small matter.
It's a trick. When one day I start playing with pure credit notes, I won't give you any real money, and I will just use a printing press to print money, and if it comes out to several trillions, you won't be frightened until you have a stroke!
The bank issued excessive banknotes, which was one of the main reasons why Li Xuan opened the Royal Bank.
In the final analysis, the entire financial reform is still about money.
Who made the Tang Dynasty so poor now? The fiscal deficit in the three years of Xuanping has exceeded five million taels of silver. Even if there is income supplementation such as the proceeds from house confiscation, it is not a long-term solution!
Because Li Xuan estimates that this war will probably last for a long time, and it will not end in one or two years. Even if the war is over, there will still be more places to spend money, and Li Xuan has a lot to do, such as
After unification and the development of the steam engine, we will build railways, develop large-scale industries, build water conservancy, etc. These ultra-large-scale infrastructure constructions are extremely expensive no matter what.
If we rely solely on fiscal revenue, we don't know how long it will take to build the project, so debt-based construction is a must.
As for indebted construction, how can we repay the financial debt?
Why should I pay back the money I borrowed based on my ability?
What a waste, at most it's just interest, don't expect the principal to be repaid.
Look at the American hooligans. Look at when they have paid off the national debt. What they do most is borrowing new debt to pay off old debts.
To engage in this kind of debt construction, a state-owned bank with strong financing capabilities is necessary. Although the Royal Bank created by Li Xuan is not state-owned, it is a royal asset and is actually considered a state-owned asset.
While Li Xuan was working on the bank in the rear, the war on the Jiangxi front was also continuing. After Li Chunjing captured Luling City in Ji'an, he rested for a few days, replenished new troops and ammunition, and then continued northward.
At this time, the news of the fall of Luling City spread throughout Jiangxi and even Southern Zhili. After the news reached Southern Zhili, it caused even more shock, and the officials and gentry were panicked.
Zhang Yue, who was originally based in Changsha, once again hurried to Nanchang with a large number of supervision standards. At the same time, he also requested the border troops and garrison troops stationed in South Zhili to assist in defense!
Why are they so panicked, even scared!
Because this matter is not simple, it is much more serious than the fall of Ganzhou last year!
Ji'an was the front line of the Jiangxi Ming Army's fight against the puppet Tang rebels. Now that it has been lost, it means that the puppet Tang rebels can directly enter Panyang Lake.
To the east, Fuzhou can be captured, and to the north, Nanchang can be captured.
If Fuzhou and Nanchang are also lost later, what does that mean?
Not only does it mean that most of Jiangxi will fall into the hands of the rebels, but it also means that the puppet Tang rebels can enter the Yangtze River Basin and then attack Yingtianfu eastward.
It was the capital of the Ming Dynasty. Its political significance was no less than that of the Forbidden City, and its economic significance was also extremely important. Once Yingtian Mansion was destroyed, don't expect to be able to save the Beijing-Hangzhou Grand Canal.
Without the Beijing-Hangzhou Grand Canal, a major artery, and without water transportation from the south, the entire north would fall into turmoil!
Therefore, after receiving the news of the fall of Ji'an, Zhang Yue immediately took tens of thousands of supervisors and went to Nanchang. The Ming troops from South Zhili and even Henan began to swarm towards the north of Jiangxi like crazy!
However, Zhang Yue has not yet arrived in Nanchang, and bad news from the front line is coming one after another!
On September 22nd, the puppet Tang rebel army approached the Xiajiang River, and the three thousand defenders surrendered without a fight!
On September 26, the traitor army of the puppet Tang Dynasty arrived at Linjiang Fucheng and fell on the same day. The eight thousand defenders suffered heavy casualties. The next day, Chongren in the other direction was also captured by the traitor army.
A few days later, the troops of the puppet Tang rebel army arrived at Fengcheng and Ruizhou Prefecture successively. The defenders in these two places were also few and they were captured successively.
On the fourth day of October, when Zhang Yue arrived in Nanchang with tens of thousands of supervisors, the rebel army was already less than thirty miles away from Nanchang!
But now, Zhang Yue still hasn't figured out how many puppet Tang rebels came to Nanchang!
There are not many rebels thirty miles away in the south city, only more than 3,000 people. Zhang Yue does not think that this is the main force of the puppet Tang rebel army. It is at best a forward or a partial division.
However, the number of pseudo-Tang rebel troops reported from various places is extremely distorted.
Early on, the number of puppet Tang rebels reported from Ji'an was 50,000, and then the number of puppet Tang rebels reported from Linjiang was 40,000. But at almost the same time, the garrison in the direction of Chongren also reported that
They were attacked by at least 30,000 bandits.
Before the fall of Ruizhou, the defenders also sent back news that the bandits attacking Ruizhou numbered at least 20,000.
There are tens of thousands in this place and tens of thousands in that place. If these data are true, unless the puppet Tang rebel army can fly, their total strength will be at least 100,000.
But is this possible?
Absolutely impossible!
It has been two years since he fought against the Puppet Tang thief army. Zhang Yue dare not say that he knows everything about the Puppet Tang thief army, but he can still understand the general situation. The current total strength of the Puppet Tang thief army is only more than 100,000, and they are still scattered.
On several fronts, the Jiangxi side originally had only more than 10,000 troops.
Even if the puppet Tang thief army mobilized troops from other places to reinforce Jiangxi, they would only be 30,000 to 40,000 people at most, and it is absolutely impossible to have an army of 100,000 people.
If there were 100,000 puppet Tang traitor troops in Jiangxi, Zhang Yue would immediately order the Huguang army to launch a counterattack without saying a word and kill directly towards Zhaoqing!
Therefore, Zhang Yue judged that the total number of pseudo-Tang rebels in the Jiangxi direction should be between 30,000 and 50,000, but where the main force of these pseudo-Tang rebels is now is still unknown.
Because the reports from various places were too confusing, coupled with the delay in communication, it was impossible for Zhang Yue to summarize useful information from the battle reports from various places.
In the end, they could only order Nanchang and Fuzhou to defend the city and not to fight.
No matter how many there are in the Puppet Tang thief army, no matter what they want to do, the most important thing now is to find the main force of the Puppet Tang thief army. Only after finding the main force of the Puppet Tang thief army, can he formulate a corresponding plan.
tactics.
After Zhang Yue's emergency mobilization for more than half a month, both Nanchang and Fuzhou can be said to have strong military strength. The Fuzhou side mainly recruits local troops, with at least 8,000 local recruits, and there are also 2,000 frontier infantry.
, and another 20,000 guardsmen assisted in the defense, bringing the total strength to nearly 30,000.
Nanchang is even more powerful. There are 23,000 supervisors under his personal leadership. Because of the emergency, he almost directly transferred half of the supervisors from Changsha, and then transferred the major supervisors who were training in northern Huguang.
Thousands of supervision bids were all drained.
In addition to the governor, there are also 10,000 border troops. It is worth noting that 3,000 of these 10,000 troops are cavalry, and they are not ordinary cavalry, but elite cavalry of the border army.
The 10,000 frontier troops and the 23,000 supervisors were all Zhang Yue's confidence, especially the 3,000 elite cavalry of the frontier troops and the 1,000 cavalry in the supervisors, for a total of 4,000 cavalry, which could control the situation.
Huge power on the battlefield!
In addition to the above-mentioned 33,000-strong main force, there are also 5,000 ordinary local recruits, as well as more than 40,000 young and strong guard soldiers from various places.
The total strength reached nearly 80,000 people!
With such a heavy army and four thousand elite cavalry, Zhang Yue was not willing to simply defend the city!