Business and finance are twin brothers that will never be separated. As early as the 25th year of Daoguang, British banks opened branches in China. British Liru Bank first established branches in China. Its predecessor was the West India Bank established in 1842. Its scale was expanded in 1845, changed its name, and moved its headquarters in Mumbai, India to London, England. It set up branches in Hong Kong and Guangzhou in April of the same year, and established branches in Shanghai in 1847, indicating that the invasion of foreign capital began to advance from south to north.

At the same time as Liru Bank, the predecessor of the Asian Chartered Bank of China, also received the "Royal Charter" of the British government. The Asian Chartered Bank established an agency in Shanghai in 1854. After the Taiping Army occupied Shanghai, due to the further development of industry and commerce, the bank's agency in Shanghai was changed to a branch in 1856.

The so-called franchise bank, namely the colonial bank, represents the outward expansion of the rising British industrial bourgeoisie. At this time, the Asian franchise bank was quite different from the history. Because of Clifford, a member of the Rothschild family, the Rothschild family was optimistic about the achievements of the Taiping Army in the East. They believed that the Taiping Army would complete the unification of China within a few years, so the Rothschild family quickly adjusted its investment strategy, so a large part of the Asia franchise bank came from the Rothschild family in the UK.

In 1856, France was not willing to be lonely and opened a branch of the Bank of France in Shanghai. However, compared with the British banks with strong capital, the French had a relatively small banking influence. During this period, foreign banks took over foreign exchange business in Sino-foreign trade, buying and selling forward bills at the same time absorbed deposits, handling loans and issuing banknotes in Hong Kong.

Although foreign banks have already intervened at this time, it has little impact on China's financial system in general. China's financial industry is still in a highly free market form at this time, that is, private capital and money banks occupy the entire Chinese financial industry. Whether it is the Qing court or the Taiping Heavenly Kingdom, there is no practical means of the government affecting finance.

As early as the Sufu New Deal, Xiao Yungui and Hong Yuner had actually considered reforms in banking, issuance of banknotes and financial business. However, at that time, the Sufu New Deal involved too many affairs, and the West Palace had not yet gained control of the Taiping Heavenly Kingdom, so it was temporarily shelved. After entering Tianjing and taking over Jiangxi, Anhui and other territories, the West Palace was committed to stabilizing the place and eliminating the impact of the Tianjing Incident. Therefore, this matter has not been mentioned.

Now a few months have passed, and various places have stabilized and order has been restored. The new Sufu policy has gradually begun to be promoted within the world, and the old Taiping Tian** political system has also been steadily developed. It can be said that the conditions and opportunities for carrying out the national financial reform of the Taiping Tian Kingdom have been ripe.

Hong Renyi's short words in the Golden Dragon Palace awakened the visionary people in the hall. Xiao Yungui, Hong Yuner and Zuo Zongtang and others did not have financial understanding. But for months, they have been plagued by complicated affairs. After the fiscal deficit, Xu Naizhao and others were also confused by the authorities, thinking about how to reduce expenditure, and opening up the source is limited to considering the existing taxes and grain taxes. Perhaps this is what the saying goes, a wise man will make mistakes, and a fool will make a mistake.

Hong Renyu did not wait for others to answer, and then continued: "Although my subordinates have recently come to Tianjing. But in the past ten months, I have learned about the coins circulating on the Tianjing market. Since our heavenly kingdom has established the capital, we have started to mint coins. The materials used are gold, silver, copper, iron, lead, etc. The face value is divided into one qian, five qian, ten qian, fifty qian, etc., and the style of the calligraphy on it is also quite complicated. Among them, there are various spending money, and the largest spending weight is as much as four jin, which is extremely inconvenient to use. In the old jurisdiction of Sufu, Shanghai and other Sufu, there are silver and copper coins, and they are common.

As coins, foreigners, Eagle and Western merchants rely on the convenience of Eagle and Western circulation, inflated the price of Eagle and damaged the profits of Heavenly Kingdom. Under the subordinates, they believed that the time was ripe, and they could imitate foreigners, set up banks, collect gold and silver, issue paper money unified by heaven, and the banks set up a ratio to foreign merchants to exchange silver and foreign currency to prevent foreign merchants from profiting from it. The bank immediately sets up the coins issued to circulate and can also store private wealth. The Western King can temporarily borrow it for the conquest, which is to issue national debts. After the victory, they can obtain the prosperous land of Guangdong and Guangxi, and then repay it."

Although Hong Renyu's idea was still a bit simple. Although the Taiping Heavenly Kingdom was founded for several years and had minted its own coins, the people have always been accustomed to using coins such as gold, silver, copper, etc. to collect gold, silver, and issuing currency is not something that can be done with words. Looking back on the many twists and turns of the Republic of China in the later years, the restructuring of the two countries was gradually withdrawn from the circulation link, which shows how deeply rooted the use of silver was for the Chinese people. At the same time, financial reforms are different from other reforms, and involve many issues. If paper money is forcibly issued, social turmoil will inevitably occur, or they are like the Qing Dynasty treasure banknotes issued by the Qing court.

But Xiao Yungui still said quite approvingly: "Although Ren's idea is not very mature, it also provides a direction to solve the problem. I often say that we governing people must not act arbitrarily, and we still need to concentrate our thoughts to find the best way to solve the problem. Banks can be opened, but paper money does not need to be issued for the time being, and it involves a lot of issues. We should make a long-term plan. But what Ren's saying is that too many types of coins in my heavenly kingdom are indeed a problem. What the left prime minister thinks?"

Zuo Zongtang thought for a moment but said cautiously: "Since ancient times, gold, silver and copper have been used as coins in China. However, now domestic trade is gradually connected with foreign countries. Last year, imported goods are prone to produce a huge amount of silver. In this long run, domestic silver will gradually dry up without silver. Under the jurisdiction, it is believed that gold should be collected first to consolidate the capital. Although gold is also a kind of currency, it is of great value. It is rarely used for trading and is also rare. It is feasible to collect most of the gold. Then, silver ingots can be changed to silver coins, and the quality can be slightly the same as Yingyang, and some banknotes of the Heavenly Treasure Banknotes are appropriately issued, and the value of the banknotes is equal to the value of the gold. Such newly minted silver coins are used for domestic circulation, and the exchange transactions of foreign currency such as Eagle and British Pounds may alleviate the outflow of silver, and the silver dollar and paper currency can also be exchanged for equivalent amounts."

Although Hong Yuner is knowledgeable in literature and history, she is also a vague understanding of finance and cannot make any comments. Although Xiao Yungui has done some business and knows some financial knowledge, in this historical environment, he is not sure what kind of currency reform is the most suitable and the best choice. But following Zuo Zongtang's suggestion, it seems that the gold and silver copy system is implemented, which is still the same as in ancient times. But the only difference is that in the gold standard, since gold is rare to issue corresponding banknotes, and silver is changed to silver dollars to circulate in China, which seems to alleviate the problems of silver outflow and domestic currency chaos to a certain extent.

Another Shanghai Military and Political Secretary Wang Kaiyun, who had been in contact with foreigners for a long time, said: "The change of the country and the abolishment of the two can be implemented. There are many Yingyang circulating foreigners in Shanghai and other places. It is recommended that the establishment of a bank can absorb private wealth, but it will inevitably conflict with private money banks. In other words, it depends on who the people trust more and will store money. At present, the holy treasury of the heaven is empty and it is difficult to use a large amount of money as bank reserves. If there is a run and the money cannot be used for exchange, it will greatly damage the reputation of the newly established bank, and if there is no trust, the bank cannot establish it."

But Hong Renyi suddenly said: "About the bank reserves, my subordinates heard that there are many rare treasures collected by the people in the Dongwang Mansion and the Beiwang Mansion. They can be taken out for auction and raised a lot of money."

Zhu Changling, Director of the Business Department, also said: "People businessmen are also people who are willing to go to the public. Nowadays, many private money shops deposit money without profit, just to ensure the safety of money and facilitate the use of bulk transactions in other places. The new bank in the Heavenly Kingdom can allow small profits, and the private businessmen will definitely deposit large amounts of money for profit. Several large businesses under the Business Department must transfer the money into the bank. The Ministry of Revenue and even the Holy Treasury can deposit it into it. When the private businessmen see this, they will definitely follow."

Wei Heling, deputy director of the Department of Commerce, also said: "If the bank is opened, there will be loans. Nowadays, many projects in private and local governments require money to invest. I believe that after the bank is opened, the profits of lending will be enough to support the end of the Guangdong-Guangdong War."

Everyone said something and said something. Xiao Yungui thought for a moment and looked at Hong Yun'er again. Hong Yun'er smiled and shook her head slightly, indicating that she had no better idea. Xiao Yungui also knew that she was not good at this, so he stood up and said, "Since that's the case, I decided to start preparing for the Central Bank of Heaven and establish the Finance Department, which is under the Ministry of Revenue, and Zhu Changling, the Director of the Commerce Department, will be appointed as the Director, and Hong Ren'er will be transferred to the Finance Department and will be appointed as the Deputy Director. The Department of Commerce will be replaced by Wei Heling, and Yu Songnian will be appointed as the Deputy Director."

Since the Taiping Heavenly Kingdom captured Songjiang, Yu Songnian saw that the Western King of the Taiping Heavenly Kingdom had always protected private property, and at the same time did not replace state-owned Confucianism with the so-called foreign religion, but cleverly linked the two together, so the Yu family had always maintained a cooperative relationship with the West Palace of the Taiping Heavenly Kingdom. The Yu family's collection of books was also protected by the Xidian Yu Xuan Department, which made Yu Songnian even more satisfied. In the subsequent reform of the administration and a series of new policies on the Soviet Union, Yu Songnian saw the hope of reviving the Han people, and gradually began to agree that the Heaven would replace the Qing Dynasty as the main story. The Yu family held ships and shipping in Shanghai, and Yu Songnian was elected president of the Shanghai Shipping Chamber of Commerce last year. After that, Wang Kaiyun visited many times, and Yu Songnian finally took office as the president of the Shanghai Chamber of Commerce, representing many businesses in Shanghai.

This year, Yu Songnian began to accept the official position of the Taiping Heavenly Kingdom. Xiao Yungui has always wanted Yu Songnian to get on his pirate ship. Now that he has the opportunity, he has promoted Yu Songnian to the position of deputy director of the Business Department.

After the person was selected, Zhu Changling, Hong Renyan and others selected officials who were good at financial affairs to join the Finance Department, and then came up with specific regulations. The many rare treasures in the Eastern Palace, Northern Palace and Hong Renyan were not mentioned by Wang Kaiyun to be auctioned. Anyway, those things cannot be turned into money and grain when they are kept. It would be more realistic to exchange them for gold and silver. If the people can own something that the prince has used, it can be considered a great honor, and this move will definitely raise a lot of money.

After solving the problem of fiscal deficit, another important goal this year is to send troops to Guangdong, Guangxi and the two lakes to deploy the battle. (To be continued...)

ps: Something happened at home, which caused the update to be interrupted a few days ago. I am very sorry. The update will be resumed from today. Thank you for your support.
Chapter completed!