Chapter 340: Win Back a Round
As a result, the money shops did not receive low-priced money notes, and they made less money by selling their own money notes. Everyone felt a little regretful, and after discussing the details, they dispersed and went home.
In the Chengdu government office, Lord Ding was also gathering the main generals who were going to participate in the financial war today to have a drink together.
The bank opened successfully and had exchanged nearly one million new currencies. Mr. Ding was overjoyed and kept calling for drinks.
Lao Cao said jokingly that Shisanpu was stupid, it seemed that they had not received any business today, and they were drinking and complaining in the market, and they must have come up with some bad ideas again. He called Zhao Yulin and asked him to talk about how to deal with it tomorrow.
Zhao Yulin said with a smile that Ma Ling, as the deputy envoy of the Transportation Department, was completely equal to the head manager of the Thirteen Shop, so let Deputy Envoy Ma Ling make her own decision, and we will all encourage her from behind.
Seeing that he was keeping the secret, everyone turned to ask Ma Ling what to do.
Seeing that Zhao Yulin did not express his opinion, Ma Linger knew that there were many people at the banquet and there were a group of maids and servants around, so she judged that Zhao Yulin was worried about the plan being leaked. She humbly said that the money shops outside would definitely try to attract business back, and the situation tomorrow would be more complicated than today, so she would go back and discuss with her colleagues to send more people to deal with the situation.
Seeing that neither of them said anything specific, everyone gradually understood what they were thinking, and after some congratulations, the party dispersed.
After returning, Ma Linger called several women to fight against Zhao Yulin together, saying that he had put too heavy a burden on women. How could they be allowed to decide such a big matter? If they lost money, who would be responsible?
Fenghuang had just come back and when she heard him bullying Ma Ling, she looked at him with wide eyes.
Zhao Yulin said innocently that it was her husband's responsibility. Tomorrow we will still follow today's exchange rate and list it directly. The Thirteenth Shop will definitely follow us and even exceed our bank's exchange rate, which will inevitably cause dissatisfaction among the people. There will definitely be a situation where the people will come to the bank to argue and make trouble.
Therefore, the key issue tomorrow is not exchange, but stability. We can stop doing business in the morning, adjust the countermeasures immediately after understanding the situation, and reopen for business in the afternoon. If we respond belatedly, no one will be able to complain, and we can also paralyze those bastards in Shisanpu.
After Zhao Yulin gave Ma Ling'er these instructions, they both went to rest and sleep.
The next day, Shisanpu posted an announcement to increase the exchange rate by 1.2 cents, which immediately caused a sensation in the whole city.
However, the merchants and depositors who saw the news still did not go to the money shops to exchange silver. Instead, they ran to the bank to reason. The doors of the branches in the four urban districts and the head office near the government office were crowded with people, all watching how the newly opened bank would handle this unfair transaction.
Zhao Yulin was drinking tea with other officials in the government office at that time. When the news came, everyone immediately became nervous.
The law does not hold everyone responsible. The people are afraid of causing trouble. What should we do?
Zhao Yulin smiled and said that they had estimated it yesterday, so there was no need to worry, as the transportation department knew how to deal with it.
Everyone waited anxiously for news.
Ma Linger was in charge of the head office and soon learned the exchange rate of the money shop today. She had already instructed everyone in the bank to mobilize and provide good service. These people immediately went out to listen to the news with a smile, summarize the situation report, and solemnly comforted the excited people around them.
Some people lost a lot of money because the exchange rate was 7 cents lower yesterday. They rolled on the ground in pain and cried for help. Someone immediately came out to help them sit down and rest. An old lady walked out with tears in her eyes and a depressed look, and someone immediately followed her.
The shopkeeper kept asking for tea and promised loudly that he had reported the matter to the head office. Rongcheng Bank is the bank of the common people and will definitely handle this issue properly. Please be patient and wait for Yunyun.
The old lady who exchanged coins walked a long way to the Qingshui River, muttering that she had lost money and felt sorry for her children and grandchildren, and was about to jump into the river. However, she was tightly grabbed by a pair of big hands behind her.
The man told her that he was sent by the Third Young Master, and told her not to panic and to go back and listen carefully, as the Third Young Master would not let her suffer any harm.
The old lady looked at the young man in front of her in surprise, wiped her tears with a look of disbelief, turned around and walked towards the bank again.
After Ma Linger collected information from banks in various places, she immediately convened a shareholders' meeting to discuss the matter. After the shareholders fully expressed their opinions, she said that the original intention of opening a bank was to facilitate people's work, and making money was secondary. At present, the bank has just opened, and even if the exchange rate does not drop by one cent, the current money exchange rate is still profitable.
Now that all private money shops have suddenly raised their interest rates by 2%, it would be inappropriate for us, as a government bank, to reduce their interest rates by 5%.
Shisanpu opened sharply lower yesterday and suddenly rebounded today. It is obvious that it is going against us and trying to steal our business, but we must maintain the stability of Chengdu's money market.
She proposed to follow the rise of the money market and lower the price by one cent to show her sincerity. At the same time, she sent her deputy transport envoy Qin Qinyao to the money shop to explain the reason and work together to maintain the stability of the money market.
Shen Baiyi asked her: What about those customers who came to ask for an explanation? Do we really have to make up for their losses?
Ma Ling said that was of course, the bank had posted a notice outside to make up the difference, we are a government bank, we must keep our word. She asked all branches to settle according to the account books, those who are willing to continue to exchange money notes at the bank should make up the difference, and those who are not willing return their money notes.
After some arrangements, the banks immediately took action.
Qin Qinyao, deputy envoy of the Transportation Department of Rongcheng Bank, informed Qian Fuxing of the head office's decision and told him that Ma Ling, deputy envoy of the Transportation Department, hoped that everyone would keep in touch and work together to maintain the stability of Chengdu's money market.
A barely perceptible smile appeared on Qian Fuxing's face, and he felt happy in his heart.
Damn, I finally got a win. The transportation department of the new Song Dynasty is not that good. I raised the exchange rate by 7 cents and the government bank was defeated.
Qian Fuxing had just been enjoying himself for a cup of tea when his brother-in-law Jiuzi came to see him.
Jiuzi said that although the bank's exchange rate seemed to be one cent lower, those customers still ran to the bank because the bank compensated the customers for the interest difference based on yesterday's business transactions according to today's exchange rate.
As a result, their dream of suppressing the market and making money was completely shattered, and those customers once again rushed to the banks.
However, Qian Fuxing was very clear-headed. He had no choice but to make a lot of money.
Zhao Yulin learned at the government office that Ma Linger had carried out the plan and raised the exchange rate to make up the difference for yesterday's customers. Then he told the gentlemen his thoughts and actions, telling them that the bank's purpose of blocking the market and suppressing the exchange rate to cause market turmoil has been achieved.
People began to think that they didn't make any money and it was a waste of effort.
It was only after listening to his explanation that I suddenly understood.
Mr. Ding was very satisfied with Zhao Yulin's approach.
Normally, doing business requires following market conditions and being willing on both sides, but Zhao Yulin asked government banks to shoulder social responsibilities and to maintain social and economic stability.
He invited Mr. Ding to attend the tea party held by the Chengdu Jewelry and Jade Chamber of Commerce later to listen to the opinions of the merchants.
The old man readily agreed and ordered them to set off immediately.
When they arrived at the Qintai, Qu Tao and Manager Qu had already invited all the merchants. There were guards standing every three steps and every five steps.
As soon as the old man entered, everyone immediately stood up and bowed to greet him. Zhao Yulin saw the atmosphere and felt that the king had really arrived. The old man smiled and bowed to everyone one by one, then sat down to listen to their opinions, but everyone said nothing.
Shopkeeper Qu repeatedly and softly invited Mr. Ding to give him a lecture.
This made the old man feel that the atmosphere was too awkward and boring. He smiled and introduced Zhao Yulin to everyone and asked him to speak first.
Qu Tao was very familiar with Zhao Yulin, and he smiled and asked him to tell everyone about it.
Zhao Yulin said with a smile that this is the New Song Dynasty, and everyone does not need to be too formal. In the New Song Dynasty, everyone is equal. Whether it is the King Ding Gong or him, the commander-in-chief, they all work for the people. There is no difference.
Mr. Ding immediately said, "Yes, yes, yes." What Yulin said was exactly what he wanted to say, and he immediately raised his hand to signal Zhao Yulin to continue.
Next, Zhao Yulin elaborated on the purpose of issuing the new currency in detail, and assured everyone that the New Song Dynasty would never change its policies overnight, saying today that the new currency was equal to the silver coin, and then changing it again tomorrow and denying it.
If changes are needed, the more they are made, the more beneficial it will be for the people.
Mr. Ding gave Zhao Yulin several "yes, yes, yes" affirmations.
Gradually, the atmosphere in the venue became lively.
Someone stood up and bowed to him and asked: The money market is so hot and cold that people are in a panic. Businessmen don’t know what to do. Sir Zhao, do you have any better way to deal with it?
Zhao Yulin stood up first and asked him to sit down, and they all sat down to talk.
He announced the exchange rate adjusted by the Transportation Department in the afternoon and told them that they had also made up the interest rate difference of yesterday's transaction. The state bank would not let the people suffer losses and strive to be fair and just.
Then, he said that the market is the market, it has highs and lows, if you sell it high you make money, if you sell it low you lose money, it's all business.
However, it cannot be ruled out that some people are engaged in unscrupulous robbery and speculation.
What the government needs to do is to try to establish a suitable system, create a fair market, and allow all businesses to trade freely in accordance with an increasingly standardized system.
Everyone was delighted to hear this, with smiles all over their faces.
Zhao Yulin had heard and read countless documents on regulating the market in later generations, so he spoke eloquently and fluently, and everyone felt that his remarks touched their hearts.
He said that in the future the imperial court would have a Ministry of Works, and there would be dedicated personnel to help small workshops and small businesses out of difficulties. As long as those who were short of money ran their businesses in the right way, the imperial court could help with low-interest loans to help them out of difficulties. If those who had a good business but were short of money were able to do so, the imperial court could also lend them low-interest loans to help them develop.
This touched upon the concerns of some merchants, who looked at Zhao Yulin eagerly, hoping to hear more specific methods and when they would be implemented.
Mr. Ding was also happy.
All the measures taken by Zhao Yulin were what he, a kind-hearted man, wanted to do. He kept saying it was a great kindness and told everyone that Rongcheng Bank had been established and that the bank was responsible for doing this job.
