The hall was cold and Xiaoxiao put on the winter clothes handed over by the eunuch. Judging from the winter clothes, it should be a thick cotton coat that the palace maids have unified standard.

Xiaoxiao returned to his futon wearing a cotton coat. Seeing that there was a cup of hot cheese on Yundi's small table, he quietly looked up and saw that the emperor seemed to be using cheese, so he took the opportunity to drink the bowl of hot cheese silently, and immediately felt warm all over.

Xiaoxiao had a basic idea in his mind about solving the deficit of the treasury. At this moment, he saw that the emperor had almost used up the crispy cheese. He said carefully: "By your Majesty, if this matter is solved in the way of a businessman, the first way that the civilian girl thought of was to borrow money to overcome the current difficulties."

"Who should I borrow?" The emperor put down the crispy cheese bowl in his hand, wiped his mouth with a veil, borrowed money? Borrowed money from the wealthy businessmen of this dynasty? Not to mention the huge amount of money, even if he borrowed it hard, the emperor asked someone to borrow money, it would not sound good if it spread.

"Take it from the people, use it for the people, naturally I will borrow it from all the people in the world." Xiaoxiao's voice seemed extremely clear in the hall late at night. "The current border disturbance is only temporary. Our dynasty is already economically prosperous. Your Majesty's current method of pacification is also a strategy to benefit the descendants. In the short term, it will definitely be long-term peace and peace in the world."

Xiaoxiao said these words and understood in his heart that after Mongolia and southern Xinjiang, the emperor had pacified all directions. These frontier wars should not make a comeback in recent years. The pirates in the East China Sea knew what was going on and would not cause danger.

"There is a folk saying that "rescue the urgent but not the poor". Filling the national treasury is a temporary need. As long as you survive this period, you can keep the clouds clear and the moon bright." Xiaoxiao continued.

"Looking all the people of the world to borrow money is the freshest statement I have heard in these days." The emperor, against the backdrop of the black fur robe, showed the unique nobleness of the royal family. "The question is how to open your mouth? How to borrow?"

"Have the emperor ever heard of private underground money houses, that is, those who lend money loans?" Xiaoxiao asked boldly.

"I heard a little, and it seems that a batch of them was strictly processed last year."

"Those who borrow money loans will use their own houses and land to mortgage. Some people who need money urgently will also suppress their wives, children and even their lives. Then they borrow money from underground money houses and will be returned in installments according to the principal and interest. Each period of return will be returned, and a seal will be placed on the note, so it is also called seal money." Xiaoxiao still briefly told the emperor about the meaning of usury.

The emperor said nothing, just listened quietly and said with a smile.

"The young woman has a bold idea. If the operation of the seal money is completely reversed, the state borrows money from the people, and the principal and interest will be returned when the maturity is over. The state also issues a kind of remark or coupon for borrowing. Since it is related to the treasury, we simply call it the treasury bill."

Before this, Xiaoxiao could not believe that he would come to the present emperor to recommend treasury bills to him.

"This kind of treasury bill is open to the public?" the emperor asked, with curiosity implicit in his voice.

"Yes! At that time, the imperial court will set up a special office for treasury bills across the country. The people only need to spend equal amounts of silver to buy the same amount of treasury bills home, and then go to the department to get the coupons and receive the money and interest after the deadline."

The emperor narrowed his eyes slightly and initially said that this woman was probably a little smart in business. Now she was convinced by Ning Wang's words: This woman has a very clever and broad mind, and is probably comparable to ordinary mortals.

The voice of Xiaoxiao echoed in the hall, try to speak slowly so that the person in charge of the record in the corner can remember it clearly—

"Just like that shit money, the longer the year of arrears, the higher the profits will be. In the end, it will turn into blood shit money and even your life will be paid in... We will do the opposite. We can also divide it into different interest rates according to the storage year. The higher the year, the higher the interest rate!

"For the sake of easy calculations, I would like to give an inappropriate example. For example, one-year period is 10% profit, two years is 15% annually, and three years is 20% profit per year. If someone spends 10 taels of silver to buy one-year treasury bills, if he is eager to exchange money within one year, he can only exchange it for 10 taels of silver with no interest; if he goes to exchange treasury bills for one year, he can even get 11 taels of silver!"

The emperor nodded slightly after hearing this: "If someone buys treasury bills for three years and gets 20% of the profit every year, then in the three years, you can get 16 taels of silver with principal and interest."

Xiaoxiao focused on it: "Yes, that's it!" He felt that he was too excited for a moment. Now the person in front of him is the current emperor, so he calmed down and said: "Of course, the interest rate of 10% of the profit is too high, and it is already quite high if you can get five points. Moreover, in order to recover the money quickly and to make the people dare to take action, it is best to set up some short-term treasury bonds, such as three months or half a year, so that the people can see the interest quickly, and it is also convenient for the treasury bonds to establish a reputation, and it is easier for the treasury to earn money earlier."

The emperor's eyes were still slightly narrowed, and he couldn't believe that this tricky thing had gradually gained a glimpse. He then asked: "You just said that the money in the seal requires people to use shops and fields as collateral. So what should these treasury bills be used as collateral?"

"Does this still need a mortgage? This is the national credit of this dynasty! There is a national seal on it!" Xiaoxiao couldn't help but feel excited, "This is Your Majesty, you are borrowing money from the people. Whether it is your heart to make money or a patriotism, you must have a lot of trust in it! If the people don't even believe in the emperor, who else can you believe in? You are a god-like existence to us. If you lose this belief, the sky will collapse."

The emperor has been accustomed to flattering words for half his life, but today these words are extremely true. The emperor is really a god-like existence to his people. Although he has a hand of turning around, he has to raise the world with sunshine, rain and dew.

Xiaoxiao said those words just now, and suddenly remembered the hardships he suffered in his family. He felt a little sad, and even misplaced. He took a few deep breaths and forced himself to calm his mind and continued to say in an excited tone-

"Even if the people have little knowledge, the merchants are smart and will definitely purchase large amounts of treasury bonds as soon as possible! You must know that if the people put the cash bank in the money shop for storage, they will charge management fees! Not only will our treasury bonds not charge management fees, but they will also pay interest. Where can we find such good things!"

This is the first time that the emperor has been talking about money and business with his naked friends like this, and he blames the other party for his quick thinking. Now that he thinks, the credit of the country is indeed the best collateral: "As the king of a country, I will never break my trust from the people. At that time, I will order people to personally stamp the seal of the Ministry of Revenue on it to seek mutual trust."

Xiaoxiao thought to himself, if the people are really deceived by these treasury bills, then the country will either be trapped in war or corruption, and will basically be over. At that time, these silver will be useless even in the hands of the people...

Xiaoxiao gradually realized his mind. Judging from the current situation, if you want to fill the treasury in the short term, issuing treasury bonds should be the best way.

Xiaoxiao further said: "At that time, the court can announce this matter by the residence newspaper, and at the same time it will be announced on the front pages of major newspapers and magazines such as Yuanlong Business Daily, Kyoto Times, etc. The people will definitely flock to buy treasury bills."

The emperor leaned his head against the high chair back in a black sable fur robe, and breathed a sigh of relief. For countless days, this hanging heart had only truly come to the ground tonight.

The emperor returned to his previous sitting position: "If treasury bills are sold nationwide, the Ministry of Revenue will need to set up a special coupon sale yamen for this purpose. By then, this yamen will be established across the country, which is a big project in itself."

The emperor looked at Tang Xiaoxiao, who was sitting down with his eyes. He had basically had a direction in his heart, and it depends on how this little woman could do this more perfectly.

Xiaoxiao thought about this matter carefully: "This is indeed a huge project. According to the young woman, the court can first set up the first coupon sale yamen in Kyoto, and then set up coupon sale yamen in Chang'an, Jinan, Bianliang, Hangzhou and other places in Chang'an, Jinan, Jinan, Bianliang, Hangzhou, and then slowly start some projects according to the exhibition situation in various places."

The emperor smiled, and before he knew it, he had completely joined this unprecedented financial brainstorm: "Treasury bonds can be divided into various face value to facilitate people of all walks of life to come and buy them."

Xiaoxiao nodded: "And we'd better set a threshold to save some people from coming to buy treasury bills with a few cents. At that time, the cost of the coupon will not be enough! According to me, 5 taels of silver to 10 taels of silver is fine, and there is no cap on it! The treasury bills that everyone buys must be registered in the coupon sale yamen. The treasury bills themselves must also undergo careful anti-counterfeiting design, and after overprinting, it will be impossible for others to follow the example!"

As she said something, she said too much, paused, looked up at the emperor, and confirmed that the other party was listening, so she slowly breathed a sigh of relief: "The Ministry of Revenue has many talented and knowledgeable adults, I believe that this matter can be handled properly."

But the emperor said, "They are not good at doing business."

Xiaoxiao thought about it in his heart again, is this really the biggest business in this dynasty? It seems that it is a bit worse again.

There seemed to be a wind outside, as if it was mixed with the sound of rain.

A warm feeling rose inexplicably in the hall, and there was no coldness as before. Just as Xiaoxiao was puzzled, he heard the emperor ask, "Did the earth dragon burn in advance?"

The eunuch on the side replied hurriedly: "I did not go back to the emperor in advance. Now it is past the middle of the year, and today is the beginning of winter."

It's the early morning of the second day? Xiaoxiao looked through the window and looked at the night outside. It's the beginning of winter. Is it already winter?

Xiaoxiao hurriedly knelt down again: "Men's daughter wishes that the land will be hidden this winter and that the grain will be abundant in the next year."

"Let's go flat." The emperor said habitually: "Reward."

Xiaoxiao was thinking that he might get something like the yellow jacket of the Qing Dynasty, but the eunuch brought a small crystal cup, which was filled with various gold particles. Looking closely, it was the seeds of grain made of gold.

"Thank you for the reward of the emperor." Xiaoxiao said in his heart, what's the use of the Tang family getting these gold now? It's not suitable for eating or drinking.

I heard the eunuch remind him again: "It's late at night, and the emperor will go to the small Buddhist temple to burn incense and pray for blessings tomorrow morning."

Xiaoxiao was a little anxious when he heard this, and he hadn't said anything about his business yet.

But the emperor yawned and said, "No hurry, I must explain this matter thoroughly tonight."

Xiaoxiao then felt relieved and thought to himself that if the emperor had successfully solved the deficit in the treasury, he would have the opportunity to tell what he wanted.

After figuring this out, Xiaoxiao mustered up the courage to ask: "The female girl dared to ask: Your Majesty thinks that the treasury bill is a business?"

The author has something to say: Today is the beginning of winter, dear babies, please pay attention to keeping warm.
Chapter completed!