The development of the Nine Plains was very fast, almost reaching the point where it was changing with each passing day. Every day had a different development.
All the problems were solved by Yang Xin, but there was one problem that gave Yang Xin a headache: the bank.
It wasn't that Jiuyuan didn't have banks, but the scale of these banks was too small, and there was a fee to deposit money. They didn't have the business model of a modern bank at all.
Yang Xin naturally didn't care about these small banks, but he didn't annex them. After all, the existence of many banks could still promote economic prosperity.
When Yang Xin told Yang Song about opening a bank, Yang Song did not object this time. Instead, he agreed very much. In Yang Song's eyes, a bank was just a bank in the past. It was a profitable business that would definitely make money.
However, Yang Song was right about this. Opening a bank was indeed profitable, but the bank opened by Yang Xin was different from what Yang Song thought.
However, he needed a reserve fund before opening a bank, and the five million US dollars he had traded with Germany happened to become a reserve fund, so he was prepared to use US dollars as a reserve fund and supplement it with gold.
Of course, Yang Xin was still lacking in gold, but he had already set his sights on Mongolia.
Currently, Mongolia was sparsely populated. A few divisions of soldiers scattered across the grasslands and deserts, but they were nowhere to be seen. Fortunately, Yang Xin had already sent people to survey the gold and copper mines and could send troops to occupy them at any time.
This was especially true for the largest gold mine that was called the largest gold mine in the later generations. It was actually not far from Jiuyuan, only about a hundred kilometers away. The reserves amounted to more than a thousand tons of gold. If they took down this gold mine, they would have enough reserves to open a bank.
"Young Master, what's the name of this bank?”Yang Song asked.
"Let's call it the Development Bank!" Yang Xin said casually.
"Development bank? Not bad, a good name. Young Master's knowledge has increased again.”Yang Song flattered.
Of course, Yang Xin's bank was temporarily only circulated within the territory he controlled and not to the outside world. After all, if he wanted more people to recognize him, he had to show a certain amount of strength and credit.
For thousands of years, China had formed a common currency, which was gold, silver, and copper, so Yang Xin did not change much.
Dividing and horns were still made of copper, while one yuan was made of silver, and five and ten were paper notes. The purpose was to allow merchants to circulate on a large scale.
In order to accumulate credit, paper notes could also be exchanged for silver dollars. The three were interlinked and there was no such thing as being unable to be exchanged. This also increased the confidence of the people.
However, the silver dollar was slightly smaller than the silver dollar in circulation, but its thickness had increased. Its overall weight was about the same as the Mexican Eagle, but it was very exquisite. It was a mixture of 90% silver and copper, and a small amount of alloy. The entire silver dollar looked very beautiful.
This wasn't cast, but punched by a stamping machine. It reduced the fire consumption and cost.
Yang Xin's finances became much more relaxed. The one million silver coins that were put into the market for the first time were swept away by the people.
There was nothing they could do about it. At this moment, there were all kinds of currencies in China. It was especially so for some chambers of commerce. Every time they encountered a variety of currencies, they would be very troubled. Not only was it troublesome to exchange them, but there were also times when they would lose money due to the depreciating of the currency.
The exquisite silver coins and the simple identification method prevented the birth of counterfeit coins to a certain extent. Moreover, Yang Xin stipulated that all merchants could only accept new coins. All other coins had to be exchanged at the bank before they could be used.
Gradually, foreign currency was driven out of the market. The development bank also took the opportunity to set up new branches everywhere to exchange foreign currency.
For those merchants, in addition to the money transfer system, there was also paper money. According to the regulations, paper money could be exchanged for silver at any time.
The anti-counterfeit of banknotes was also very important. Yang Xin ordered people to add fiber to them. This kind of banknotes not only felt comfortable, but it was also difficult to counterfeit.
Of course, paper money was out of reach for ordinary people. After all, one yuan was a very large number in the eyes of many people. However, merchants and capitalists were exceptions. Paper money was convenient for them to communicate with each other.
As for the legal currency, many people disdained it. After all, the credit of the legal currency was too bad. Many people directly refused to pay with legal currency.
"Young Master, the bank is indeed making money. You see, we made at least 100,000 silver dollars from the first batch of one million silver dollars. This way, our finances will be even more relaxed.”The next day, Yang Song brought a report to Yang Xin.
"Alright, now we have money for the construction of the railway. Remember, only the money that flows out is money. The money hidden in the warehouse is dead money. Don't feel bad about that money.”Yang Xin said heroically.
Instantly, a huge amount of money was poured in, and the entire northwest became a huge construction site. Recruits were everywhere. As long as they didn't lose an arm or a leg, they were all recruited. They were immediately given a settlement allowance, and the salary was even more frighteningly high.
For a time, many people from other provinces rushed in like sharks that had smelled blood.
This book comes from：m.funovel.com。