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Chapter 241 Two, Three, Six, Who share the rights and wrongs of one generation (Part 2)

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    The tactics used by Zhou Jinzhen and others are not unsmart.  But here's the problem: China has always had more than one smart person, and every smart person wears Metersbonwe - they don't like to take the usual path.

    The rubber stock craze broke out in early July, followed by bank bankruptcies; in early August, the government's rescue of the market began to bear fruit.  It¡¯s September in a blink of an eye.

    September is the harvest season. At this time every year, the Qing Dynasty will give money to strongmen to buy roads, euphemistically called "Gengzi Indemnity".  This money was allocated by the imperial court to various provinces, and it was Shanghai Road's turn to do so, with the amount being 1.9 million taels.  Originally, Shanghai was not short of this amount of money, but Cai Naihuang spent all the money to rescue the market and deposited it into the accounts of Yuan Fenggun and Yi Shanyuan. How could there be any money in the treasury?

    Cai Naihuang didn¡¯t want to be the first person. When he saw the imperial decree, his first thought was to quickly take out the official silver from the bank account and deport it to a bank designated by the imperial court.  So he quickly sent people to invite Yan Zijun and Ding Weifan, and after a lot of nonsense, he finally said: "At this time every year, the imperial court has to pay part of the Boxer Indemnity to Western countries. This year, we are required to pay it within a time limit.  1.9 million taels of official silver. However, the 3 million taels of official silver owned by the Yamen were all deposited in the two banks a few months ago to maintain market stability. Since the court now has other orders, Cai has no choice but to obey the order. This time please  You two are here because I want you to prepare as soon as possible so as not to miss important national events."

    Yan Zijun and Ding Weifan looked at each other and then said respectfully: "Master Cai, after the last heavy blow, Shanghai Bank itself is already weak; Shanghai's industrial and commercial owners are also frightened and cannot withstand any disturbance. For the current plan, it is best to continue  Keep it quiet to prevent all previous efforts from being wasted. As for the funds needed by the imperial court, it is better for you to request the allocation of 1.9 million taels from the Qing Dynasty Bank and advance this amount first."

    "Inappropriate, inappropriate!" Cai Naihuang shook his head repeatedly, "We have already borrowed 3.5 million taels from banks in various countries. If we allocate another 1.9 million taels to the Qing Bank, the amount is such a staggering amount. Do you think the DPRK and Central Government will agree?  Now the Shanghai market has gradually stabilized, and 1.9 million taels were extracted from more than 6 million taels, which is less than one-third of the total and will not affect the overall situation."

    Yan Zijun said: "Sir, as long as you don't withdraw cash from our bank this time, we are willing to supplement you with 15% of the money!"

    15%, that is 300,000 taels, but Cai Naihuang felt that this money was too hot to handle.  Besides, how could the imperial court agree to huge borrowings again and again?

    Thinking of this, Cai Naihuang said: "You two, I think you should go back and prepare some money!"

    Seeing that he couldn¡¯t shirk it, Ding Weifan had no choice but to grit his teeth and tell the truth: ¡°Sir, it¡¯s not that we don¡¯t want to take it, it¡¯s that we really can¡¯t take it!¡±

    Cai Naihuang immediately burst into laughter: "What? What did you say? I borrowed 3.5 million taels from banks in various countries, and I also have 3 million taels deposited with you. It has only been less than a month. How can I not even borrow 1.9 million taels?"  Can¡¯t squeeze it out?¡±

    Ding Weifan smiled bitterly and said: "Sir, you also know that although the total is 6.5 million taels, as soon as you come out of the bank, every adult from top to bottom has to pay a huge tribute. No matter who handles it, they have to take advantage of it.  Take the oil. When it comes to us, it will only be 5 million taels. Our two families will split it again, each of them will only have 2 to 3 million taels. In this stock market crash, each of our two families lost more than 2 million taels.  This money can be used to repay debts, charge off accounts, close positions, and cope with runs. How can there be any money left to pay the Boxer Indemnity now?"

    Cai Naihuang was furious: "This is so unreasonable! When we borrowed the money, wasn't it expressly stipulated that the money can only be seen and not eaten? How could you have no rules and misappropriate the money casually?"

    Yan Zijun sneered from the side: "Everyone is starving to death, who can care so much?"

    Cai Naihuang sat back on the chair and started to behave: "I don't care what you do, anyway, I will see 1.9 million taels of cash in three days! If you don't see it, humph, don't blame me, Cai, for being ruthless!"

    Seeing Cai Naihuang acting arrogant, Yan Zijun simply broke his face and said: "Sir, let's be honest, if we withdraw 1 million taels of cash today, our Yuan Fengrun will have to close down tomorrow! If Yuan Fengrun can't survive, there may be some  If the news that is not good for you reaches other people¡¯s ears, then I¡¯m afraid that neither you nor me will be left behind, okay?¡±

    After hearing Yan Zijun¡¯s threat, Cai Naihuang¡¯s face turned pale and he gasped for air.

    At this time, Ding Weifan stepped forward to act red-faced and persuaded in a harmonious voice: "As the saying goes, a son with a lot of money cannot sit down in the hall. Your Excellency, you are Su Songtao, a dignified and dignified fourth-rank official. Why bother to die with us businessmen who abandon the good and wait for the inferior?"  What? Besides, the matter is far from a dead end. As long as your Excellency writes a letter requesting the imperial court to let the Qing Dynasty Bank advance the amount, weMore than 000,000 taels.

    The reason why Yuan Fengrun and Yi Shanyuan dominate the country is because they have the support of Shanghai Daoguan Bank and do not need to rely on foreign banks for loans.  About six-tenths of Shanghai Daoguan silver is deposited in the Yuanfengrun system, and four-tenths is deposited in the Yishanyuan system.  This withdrawal immediately caused the two banks to be short of funds and no longer able to operate normally.

    Soon, foreign banks suddenly announced that they would reject banknotes from 21 Shanghai banks.  The next day, Yuan Fengrun declared bankruptcy and liquidation, and owed more than 20 million taels of public and private money.  Its 17 branches located in Beijing, Tianjin, Guangzhou and other places also ceased operations at the same time.  As for Yishanyuan, major shareholder Li Jingchu used his property as collateral to borrow 2.87 million taels from the Bank of Communications, and urgently transferred funds from branch offices across the country to make up for the shortfall after the transfer of official funds, and finally temporarily saved Yishanyuan.

    Yuan Fengrun branches are spread all over the country. After its collapse, in addition to causing the collapse of a large number of banks in Shanghai, all parts of the country were affected.  The financial crisis also expanded from Shanghai and began to spread across the country.  It is the second wave of impact on the rubber stock trend.

    As for Cai Naihuang, he had already made preparations when he received the telegram from the Military Aircraft Department for the second time. When he saw that the situation in Shanghai was corrupt, he no longer cared about working or being an official. He packed up the huge sum of money he had saved over the years and quickly ran away.

    To be fair, Cai Naihuang advocated borrowing money to rescue the market, mainly because of the requests of various banks in Shanghai, and he could also get a lot of benefits from it.  But objectively speaking, Cai Naihuang's first bailout did temporarily save Shanghai's financial market, and the second bailout measure also met the actual needs at the time.  However, his corruption gave political opponents an excuse to criticize him, which ultimately led to his failure.

    As for Chen Bangrui and Cheng Dequan, how will future generations evaluate their merits and demerits in this financial crisis?  Objectively speaking, their impeachment led to the failure of the bailout and triggered a nationwide financial crisis; but their original intention was not only to defeat political opponents, but also to fight corruption. Can we simply say that they are the culprits?

    Most of the right and wrong in history are like this. There is no absolute right or absolute wrong. It's just that everyone does something from the perspective that is most beneficial to themselves!  (To be continued. If you like this work, you are welcome to come to Qidian (qidian.com) to vote for recommendations and monthly votes. Your support is my biggest motivation.) (Remember the website address: www.hlnovel.com
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