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Chapter 867: Six Banks and Financial Issues

On the afternoon of January 2, 12th, the Ministry of Internal Affairs of the State Council made a report to the Congress. The biggest scandal in the Ministry of Internal Affairs in the 11th year of the Republic of China was the departure of former Chief Zhu Zhixin. Zhu Zhixin's departure also meant that the Democratic Party lost all its armed power and became a real political party. The current acting chief of the Ministry of Internal Affairs is the Deputy Chief Qin Zhen, who will be the one who will report to the Congress in the afternoon.

Qin Zhen is 40 years old this year. He is from Hunan. During the Qing Dynasty, he was called one of the three heroes of Taoyuan by Hunan people. The other two heroes are Song Jiaoren and Hu Ying. Now Song Jiaoren is dead. Hu Ying has defected to Zhao Hengxi before and is now the director of the Hunan Provincial Department of Government Affairs in Hunan. Qin Zhen was originally a close confidant of Song Jiaoren, but this person was a literati and has been engaged in revolutionary propaganda work and has no experience in police management in the Ministry of Internal Affairs. Originally, the Democratic Party proposed that he be the deputy director of Internal Affairs because he was humble and easy to get along with Zhu Zhixin, who was strong-willed. Zhu Zhixin was too strong and others could not do anything to do with him.

Now Qin Zhen is the acting chief of the Internal Affairs, but he is somewhat reluctant to leave Zhu Zhixin's resignation. Then the Ministry of Internal Affairs also made a mess in the second half of the year. Compared with Zhu Zhixin's drastic reforms, personnel appointments, punishments, etc., Qin Zhen was almost emptied by his subordinates because he was too gentle.

Qin Zhen is his own people know his own affairs, and his work ability has been criticized again and again. Because Sun Liwen fell ill after returning from a visit to Europe, Wang Maoru missed the opportunity to attack him. This Ministry of Internal Affairs will definitely be a place of dispute between the Democratic Party and Wang Maoru in the future. The police system of the Ministry of Internal Affairs has been stuffed into a large number of retired National Defense Army soldiers for resettlement. The power gradually began to be lost from the bottom.

The orders from the Ministry of Internal Affairs were sent to the police below, which was not as good as the orders from the Ministry of Defense requested the police to co-organize. Qin Zhen could only praise him here. This year, the number of domestic security cases has decreased more and more. This is due to the unity and stability of the country. Qin Zhen put these on his head, which made the members of Congress who listened to the report sneer, and they just wanted to cheer him down.

After Qin Zhen's report ended, Li Ziwen's congressional report from the Ministry of Culture boasted about himself. He was not afraid of the wind and flashed his tongue. He compared his contribution and the importance of the Ministry of Culture to the top priority in the world. This kid relied on Wang Maoru's support behind him. His attitude was very arrogant and proud. The people of the Democratic Party were very dissatisfied with him and wanted to impeach Li Ziwen several times. However, if he wanted to overthrow Li Ziwen, he must first overthrow Wang Maoru. Li Ziwen was just a hunting dog raised by Wang Maoru, and the Democratic Party had no choice but to do anything about it.

During this year, the Ministry of Culture proposed to further regulate the newspaper industry, book publishing industry, radio broadcasting industry, film industry, entertainment and cultural industry. Many normative policies and regulations were issued. The Ministry of Culture sought the postal and telecommunications industry from the Ministry of Transport and expanded a lot of power.

It can be said that during the two years when Li Ziwen was in power, the Ministry of Culture has made a big step every year, which not only fully controlled China's public opinion orientation and public opinion discourse power, but also guided China's literary and artistic trend. At this stage, the Ministry of Culture is gradually promoting the Confucianism proposed by Wang Maoru. Wang Maoru's voice and thoughts have been timely heard by the people, making great contributions to Wang Maoru's future struggle for power.

After the Ministry of Culture, the Ministry of Foreign Affairs, the Ministry of Industry and Commerce, and the Ministry of Justice made reports one by one. The parliamentary report on the penultimate morning was the report of the Ministry of Finance, and the Minister of Finance Fang Hongxin and Deputy Minister Pan Fu made reports one after another.

The Ministry of Finance is the busiest department of the twelve departments of the State Council. They are responsible for coordinating China's finances, allocating funds, repaying state loans, managing China's banking, credit, heavy metal interchange industry, etc. At the same time, the Ministry of Finance did the most proud thing for the Chinese people this year, which is to gradually regain the power of China's customs. With the rise of China's economy and the increasing importance of the Chinese market to foreign countries, China's customs also became particularly important. For this reason, the Ministry of Finance used fiscal review as an excuse to intervene in the customs, and finally forced the customs controlled by the UK and Americans to make concessions. More and more young Chinese people entered the customs work, and they joined hands to secretly exclude British and American officials. The customs are now semi-supervised by the Chinese government, which also made the Four Banks extremely unhappy. They once threatened to withdraw from the Chinese market, but their effect was not great because the six major banks in China gradually controlled the national economy.

The six major banks in China are the Huaxia National Bank, which is responsible for the issuance of currency. They were originally the Bank of Communications, which is the largest treasury bond issue in the country. The Oriental Bank established by the Jiangsu and Zhejiang Consortium, the Northwest Commercial Bank established by the families of the Sichuan warlords, the Nanyang Bank established by the returning Nanyang Consortium, and the Bank of China jointly established by North China merchants.

Although these six major banks are not affiliated with the Ministry of Finance, they are supervised by the Ministry of Finance. The Ministry of Finance has unified the credit interest rates and gradually banned private private usury business. In addition to the six major banks, some qualified small banks have also applied for establishment. However, in order to prevent small and medium-sized banks from being unable to withstand the harsh international financial environment and cannot resist the harm to China's finances in this financial crisis, opening small and medium-sized banks requires a large amount of reserve funds, accounting for 13% of the currency storage of small and medium-sized banks, which must be handed over to Huaxia National Bank as reserve funds to ensure the chain reaction caused by financial problems. This 13% of the reserve funds harshly prevented a part of domestic capital from pouring into the financial world. However, Jewish businessmen in the seven provinces outside the customs invested bravely and brought them generous returns.

Of course, the Ministry of Finance has stricter reviews for these white people, and even more reserves are not my own. The officials of the Ministry of Finance are afraid that these people will mess up the rising Chinese financial system, but various obstacles cannot stop the investment enthusiasm of Jewish businessmen.

Fang Hongxin, Chief Finance Minister, said proudly: "This year (the 11th year of the Republic of China), the national fiscal revenue has once again surpassed the fiscal revenue in the 10th year of the Republic of China. The total fiscal revenue reached 520 million silver dollars, an increase of 28.829% compared with last year, and an increase of 20 million yuan from the beginning of the 11th year of the Republic of China." Everyone exclaimed, and unexpectedly expected that when they entered the third year of national reunification (as early as the ninth year of the Republic of China, national reunification was basically achieved, and the true unity of the Republic of China in the 10th year of the Republic of China), the national revenue increased four or five times compared with four years ago. It seems that China is better to be unified and without war.

Next, Deputy Director Pan Fu introduced the financial support of the Ministry of Finance to various departments in his report. Naturally, the majority of China's fiscal expenditure is still the army. In addition to spending on the army, there are expenditures from other departments and repayment of loans from various countries. Next is investment in national plans, etc.

Finally, Deputy President Pan Fu concluded that although fiscal revenue increased by 28.829% this year, considering the factors of China's economic inflation and the return of a large number of Russian Jews, aristocrats, and Nanyang Chinese Businessmen Groups to invest and build, this year's fiscal revenue has not made much leap compared to last year. Considering that global inflation will intensify next year, the RMB will have to depreciate, and the fiscal revenue figure will be more beautiful than this year, but the actual fiscal revenue will not increase much.

"It is possible that the national fiscal revenue will increase by 20% next year..."

Prime Minister Tang Shaoyi interrupted Pan Fu's speech after hearing this, asking him how much global inflation will cause the RMB to depreciate next year. Pan Fu said helplessly: "The Economic Analysis Department of the Ministry of Finance believes that the RMB will depreciate at least 20%. This means that the fiscal budgets of various departments will increase next year and the currency issuance will set a new high."

Wang Maoru shook his head and smiled bitterly, OK! After saying for a long time, the Ministry of Finance’s meaning was that China would fall into a fiscal crisis next year, but it just didn’t say it directly.

As the national financial allocation department, the Ministry of Finance will naturally not easily say the words of China's country about to enter a financial crisis. They just changed the statement, but everyone here is a discerning person and knows what they mean.

Since the Ministry of National Defense and the Ministry of Finance determined that China's military expenditure accounts for 36% of its fiscal revenue, the Ministry of Finance will add 7.2 million silver dollars to the Ministry of National Defense by the end of this year. This made the officers of the Ministry of National Defense very excited. With 7.2 million silver dollars, the Ministry of National Defense can do a lot of things.

But as soon as the annual report of the Ministry of Finance ended, someone could not wait to come up and prepare to accuse the proportion of the Ministry of Defense's expenditure. A Democratic Party member immediately shouted: "Defense expenditure accounts for too much fiscal revenue. Our country is not a military government empire. Now that China is peaceful, why should such a huge expenditure be spent?"

Another MP retorted: "The proportion of national defense expenditure was formulated at the beginning of the year. Why didn't you shout at that time? Did someone instruct you to attack our national defense? Are you bribed by the enemy country? You traitor, you are not worthy of being a national parliamentarian!" The MPs immediately started to quarrel with each other, and Wang Maoru smiled bitterly, "Okay, it's better to let the Ministry of Finance report be completed until noon when everyone is hungry, so that everyone will not have the strength to quarrel.

Tang Shaoyi represented the highest power of the State Council. At this time, he immediately rang the police hammer, but after three hits, the Democratic Party and non-Democratic Party members kept arguing with each other. No one stopped. Even Sun Liwen couldn't bear to watch it anymore. He was so angry that he was panting and almost coughing up blood. Hu Hanren shouted: "Calm down, calm down." But it was useless.
Chapter completed!
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