0177 Bank Run Crisis
The panda burning incense operation was successful. Li Jun, Yang Pei and others withdrew back to Guangzhou and immediately sent a message back to Shanghai.
In the conference room, Li Weiguo and his shogunate members were waiting for the result of the action.
When the news came back, everyone immediately breathed a sigh of relief and raised their glasses to celebrate.
"This time it was so satisfying. It exploded the foreigners' arsenal and burned their granary!"
"In the intelligence, there are at least 50,000 muskets and 1,500 tons of medicine in the foreigners' arsenal. This is all blown up by us. The foreigners must be so angry that they vomited blood!"
"Haha, I'm so happy when I think of the foreigners' angry look on their faces!"
"It's not just a green face, it's a slap in the face, and it's a bloody face that slaps them hard!"
Everyone said everything and said something, and they were upright and their confidence in fighting the British and French coalition forces increased.
Seeing that Wu Yong was not too happy, Li Weiguo came to him and asked, "Why don't you celebrate with them?"
Wu Yong shook his head and asked, "Sir, everything has its pros and cons. Are you ready?"
Li Weiguo was puzzled and asked, "What do you mean? Is there any disadvantage to destroying the enemy's supplies?"
Wu Yong smiled faintly and explained: "Did you think that why the British and French coalition forces had to stock up on such arms is not for this war. 50,000 muskets and 1,500 tons of medicine, and the total strength of the British and French coalition forces is about 200,000, which means that every four of them has a spare musket. What does this mean?"
Li Weiguo asked back: "What can you say? I can only say that they are well prepared. The more guns they are spare, the longer they will last."
Wu Yong nodded and said, "Yes, they originally prepared so much arms to fight with us for a long time, because they knew it would be difficult to defeat us in a short period of time. But now their arms have been destroyed by us, so they can't fight a long-term war."
Li Weiguo immediately grabbed Wu Yong's words and said, "You mean they can't fight a long-term war, so they can only fight quickly?"
Wu Yong agreed: "That's right, we're pushing them into an urgent war with them, and it will definitely be a war to decide the outcome in a short time!"
"That's right, I'm hoping to fight them quickly!"
Li Weiguo was happy. He was afraid that if the British and French coalition forces would spend a long time with him, it would be detrimental to the development of the Shanghai army and the war would have to end as soon as possible. Therefore, the quick battle and decisive decision were exactly what Li Weiguo wanted.
Wu Yong said in surprise: "Sir, it's great to fight quickly, but can we really fight foreigners?"
If someone else dared to say this, Li Weiguo would definitely get angry, but Li Weiguo also knew that this country would probably be afraid of foreigners except him, unless it could defeat the British and French coalition forces on the front battlefield. Otherwise, this fear of foreigners would continue.
"Don't worry, I dare not win the British and French fleets for the time being when the sea war is at the moment, but on land, I guarantee that the British and French coalition forces will not be able to afford it."
Seeing that Li Weiguo was so confident, Wu Yong could only smile bitterly. As long as Li Weiguo made up his mind, as a minister, he could only follow Li Weiguo to the end, no matter whether it was black or bright in front of him.
You should not be too happy in everything. Otherwise, you will easily feel sad when you are extremely happy.
Just when Li Weiguo was happy about the British and French coalition forces' quick battle and quick decision, bad news came.
"Sir, something big happened!"
Seeing Song Xuewen rushing in, everyone was shocked.
Li Weiguo was also shocked. In his impression, Song Xuewen was a very steady person. As the first group of people who returned from studying abroad, the financial knowledge he learned came in handy. He was appointed as the executive president of the Asian Infrastructure Investment Bank by Li Weiguo and has been assisting Chen Ziyan in managing his business. He is quite capable and has been unanimously praised by Li Weiguo and Shen Ziyan.
The AIIB has always been Li Weiguo's biggest reliance. It is the industry he cares most about. Now that he sees Song Xuewen breaking in in such a panic, he subconsciously guessed that something happened to the AIIB.
"What happened!"
Li Weiguo's words made the hall quiet.
Song Xuewen hurriedly said: "Sir, the big thing is wrong. The people are flocking to the bank to exchange gold and silver! The gold on the counters of branches in various places was run out and forced to close the door."
Li Weiguo immediately stood up, and he suddenly thought of various gold runs and silver runs in financial history. If one of them is not handled properly, it will lead to a serious financial crisis. In history, similar incidents have occurred in European and American powers, and all of them have been severely damaged.
Li Weiguo asked with a serious expression: "When did it start?"
Song Xuewen replied: "Since yesterday morning, there were not many people who exchanged the goods at the beginning, and the gold and silver reserves of each branch were enough to deal with it. However, from today, many banks just opened their doors in the morning and were exchanged with the people who flocked to the market, forcing many banks to close their doors and apply to the head office for emergency transportation of gold and silver."
Wu Yong said: "It must be because he knew that the British and French coalition forces were about to attack Shanghai. The people were worried that the Shanghai army would collapse and that the RMB would become waste paper, so they were in a hurry to cash out gold and silver."
"In addition to being incited by those who are interested, the common people are ignorant and ignorant, and they are easily deceived and used as guns!" Chen Jingnan came over and added.
Li Weiguo asked Xiang Song: "How did you deal with it?"
Song replied: "Bizhi has already started shipping gold and silver to local branches from the head office's treasury. He hopes to calm the fear and worries of the people in time. As long as the people see that there is always gold and silver for exchange in the bank, they will soon no longer worry about the value of the RMB in their hands."
"Very good!" Li Weiguo nodded. Song's emergency response ability was still good.
Then he asked: "How much gold and silver are there in the vault of the head office? But is it sufficient?"
Song replied: "There are 950 tons of gold and 3,400 tons of silver in the head office's vault. Unless those big merchants also participate in the exchange, the amount of RMB in the hands of the people will definitely be fine if the banks deal with it."
Li Weiguo nodded and said, "Yes, the people are not rich, and the amount of RMB in their hands is not large, but they cannot resist the large number of people, so they should not be underestimated. The big merchants have a large amount of RMB in their hands. But they will not take action easily. They know that if they rashly grab the RMB, it will probably cause the RMB to depreciate temporarily, and the loss is their money."
Wu Yong agreed: "You are right, but you are afraid that those who are interested will cause trouble. The rapid development of the AIIB over the years and the huge profits are not only jealous of Britain and France, but many people in China are also very jealous of them!"
Li Weiguo smiled and said, "Don't worry, everyone is strictly issued according to the gold and silver reserves in the vault. Even if all of them are cashed out, our reserves will be enough."
Song Xuewen was stunned for a moment and asked, "Sir, didn't you say that the reserves only need to be maintained at 70% of the total RMB issuance? That means that the total RMB circulating in the market is greater than at least 30% of the reserves. In addition, you were preparing for the war between the British and French coalition forces some time ago and ordered an additional RMB of 30 million!"
Li Weiguo said calmly: "You don't know many things yet. The amount of gold and silver reserves in the AIIB's vault is not all. In addition, we have a large amount of foreign exchange reserves, of which the British pound alone is as much as 30 million. In addition, considering the surge in military expenditure during the war, I did order an additional issuance of 30 million yuan, but although the money was printed, it has not been issued yet. Unless necessary, I do not really plan to put it on the market. So we have enough reserves to deal with the exchange problem."
Li Weiguo has another reserve vault, and the legend is in the Yu Garden, Li Weiguo's mansion, but this is just a legend. Most people don't really believe it. Only a small amount of money knows it because this is the funds that Li Weiguo secretly printed micro-moneys and cashed out from abroad. Usually, it is only used by Li Weiguo as secret funds and is not disclosed.
Song Xuewen finally breathed a sigh of relief and said happily: "Your Madam is good at planning and I admire you. Since you have such a huge reserve, you are not afraid of the people running the money!"
"No!" Li Weiguo waved his hand and said, "The bank run cannot happen. If it happens, it must be ended immediately. Although we have enough reserves and are not afraid of being run, if all the gold and silver are exchanged by customers, how can our bank make money?"
Wu Yong nodded and said, "Yes, the AIIB can earn millions of RMB every year on gold and silver smelting and fire consumption. The first five phases of the Jiangwan Industrial Zone can get a large amount of capital investment. The AIIB's contribution is the first priority. If the people take back all the AIIB's money, we will lose ourselves!"
Song Xuewen agreed: "That's true, what does the adult mean?"
Li Weiguo thought about it. With his years of experience, he could easily think of a solution. So he said: "From now on, the AIIB will immediately distribute gold and silver to each branch to ensure that each branch has the ability to convert for ten days. It is necessary to let the people see that there is enough gold and silver in the bank, so that they know that our banks have the ability to pay no matter when and where. Second, China S.H.I.E.L.D. and the Police Department took action to arrest those who incite the people to run to the bank.
Those who are interested will publicly pronounce the verdict so that the people know that they have been used as guns. Third, the enemy can incite the people. We must learn from the enemy's tricks and send people to promote it. But we cannot promote the negative impact. We must let the people know that our Shanghai army has strong military strength and can defeat the invasion of the British and French coalition forces. This is the most critical point. Only when the people believe that our Shanghai army will win, then our RMB will always stand firm, otherwise everything will be empty talk."
"Sir, wise!"
Everyone praised and agreed with Li Weiguo's plan, and then quickly began to implement it.
According to Li Weiguo's calculations, ten days should be enough to comfort the people, but the actual effect is very good. After executing a group of illegal businessmen at home and abroad, the people knew that they were being used as guns. Then they saw that there was sufficient gold and silver in various branches of the AIIB that could be exchanged at any time, so they gradually did not rush to exchange. After all, the RMB was much more convenient to use.
At the same time, the Shanghai army officers and soldiers began to carry out large-scale military exercises, walking on the street with sunglasses and rifles. The confidence that could defeat the British and French coalition forces finally made the people peaceful.
Those big businessmen who were waiting and watching, saw that the Shanghai Army Group was so confident, gave up the idea of exchanging RMB.
A storm of RMB ran stopped quickly, and within a week, it finally disappeared without a trace.
After this incident, the people's trust in the RMB has not decreased but increased. They have seen the stability of the RMB's currency. If they were worried about the depreciation of various coins every day, they have finally felt relieved and deposited their gold and silver in their homes into the Asian Infrastructure Investment Bank again.
Jiangbei, Zeng Guofan and Li Hongzhang met and shook their heads helplessly. They participated in the action and carried out the maximum RMB run attack on some AIIB branches in their territory. Unfortunately, they exchanged all the RMB in their hands, but they failed to close the AIIB.
After seeing the huge financial resources of the AIIB, Zeng Guofan and Li Hongzhang couldn't help but be amazed at Li Weiguo's strong financial resources. No wonder he could afford to support an extremely powerful Shanghai army, with thousands of factories in his hands and built fortresses, railways, and telegraphs everywhere. No matter what, it was, it would be possible to invest millions.
Especially Li Hongzhang, since he lost the rich man Hu Xueyan, he was most touched by the word "financial power". Seeing Li Weiguo's financial power, he compared it with Hu Xueyan, the latter was simply weak.
The ministers of Britain, France, the United States and Russia who heard the news immediately sighed, and became more afraid of Li Weiguo's financial strength. They were so envious of the Asian Infrastructure Investment Bank's huge gold and silver reserves that they drooled, and they were even more eager to capture Shanghai.
So, when the British and French joint fleet arrived in Hong Kong, the coalition commander Erkin only let the coalition rest for two days, and after supplying Tamsui and coal, he immediately set off northward to start the war against China.
On February 7, 1860, the British-French joint fleet set out from Hong Kong to head north. At the same time, a small unit of the British-French coalition forces attacked Guangzhou again. General Nalan Hong of Guangdong and Guangxi fled without fighting, and Guangzhou fell again.
Previously, after the British and French coalition forces occupied Guangzhou, they arrested tens of thousands of hard workers to transport supplies to the coalition forces. As a result, during the Shanghai army's panda burning incense operation, these hard workers were released by the Shanghai army soldiers and fled back to the mainland.
Now the British and French coalition forces have once again captured Guangzhou, arresting laborers again as hard labor for the coalition forces, and heading north with the coalition fleet.
On March 21, the British and French joint fleet arrived in the outer Mopanyang waters of Ningbo. After some reconnaissance, it launched an attack on Dinghai the next day.
Dinghai is affiliated with Ningbo Prefecture, Zhejiang, and Zhejiang is now the territory of Li Weiguo.
As early as the First Raven War, Dinghai was captured by the British army twice, but the military and civilians in Dinghai City did not surrender, but instead hated the British and French coalition forces even more.
Now under the rule of Li Weiguo, Dinghai City has changed from a dirt city to a tall and strong city made of steel and concrete, equipped with a large number of advanced defensive artillery, and more than 5,000 officers and soldiers from the 29th Brigade of the 15th Town of the Shanghai Army were stationed in the city. The combat effectiveness was dozens of times stronger than the Qing army of Dinghai back then.
Especially Zheng Guohong, the commander of the 29th Brigade, was a survivor of the First Opium War. The general of Chuzhou Town and the subordinate of the national hero Ge Yunfei, now he has become a senior officer of the Shanghai Army. He was used by Li Weiguo to guard Dinghai, so his intention is naturally self-evident.
Chapter completed!