After the cabinet discussion, the Nanyang Company's dry-share distribution plan was released with a national order. Among them, the cabinet, the Censorate, and the Ministry of War all distributed one percent of the equity; the Ministry of Revenue, the Ministry of Industry and Commerce, and the General Administration of Transport each divided 0.5 percent.

This distribution has formed a Nanyang development system with the Ministry of War and the cabinet as the main trunk, households, industry, businessmen and trade as branches and branches assisted. In order to safeguard the interests of everyone, the Censorate also received the treatment of the main trunk, which is precisely because they have to ensure the health of the administration of Nanyang and protect the development of industry and commerce.

Li Yuzhi finally got the permission to retire, and the royal family also gave him a dividend of 0.5% and could receive it in his lifetime, so he would like to thank him for his contribution to the Ming Dynasty. As for the bonus and treatment after retirement, he still did not lose any of it.

Zhu Cixuan took advantage of the heat of dividends from Nanyang Company and launched the court promotion. Under the instigation of the cabinet ministers and the crown prince, Zhou Yingqi, Cai Maode and Yuan Jixian successfully entered the cabinet, so the cabinet members finally reached six, which was a normal establishment. However, these three people were one step late, and the dividends of the cabinet of 10,000 taels had been made into four parts. Li Yuzhi, Wu Yan, Sun Chuanting, and Jiang Dejing each received 2,500 taels.

The silver was still deposited in the Imperial Bank and issued banknotes to everyone. The withdrawal of more than 500 taels of silver only requires three days in advance.

Even Jiang Dejing, who is involved in maritime trade at home, cannot be indifferent to this. On the one hand, the wealthy family has to take on the relationship, and on the other hand, there is a risk of not being able to get a penny. The profits earned every year are only thousands of gold. If you hold the dividends from the court in one hand and buy real estate and industry in Nanyang on the other hand, it will not only avoid risks, but also be a good way to make small profits.

In May of the 21st year of Chongzhen, the long-prepared maritime departments finally waited for the Chongzhen Kaihai Order, announcing that the Ming Dynasty could accept transactions from the north to the south. However, there were additional restrictions on transactions. That is, all foreign merchant ships must use legal banknotes issued by Imperial Bank to purchase goods from China.

Of course, not all Maritime Trade Bureaus are affected by this. The Maritime Trade Bureau in the north mainly imposes taxes on the entry of North Korean goods. This part of the trade is a buyer, so it pays silver. Only the Maritime Trade Bureau in the south is a major export center and requires a large amount of paper money supply.

This part of the banknotes was specially manufactured by the Imperial Bank. It was based on the word "foreign" and was prohibited from being exchanged for silver. However, it can be used to pay taxes. Foreign merchants exchange silver for banknotes, and then the banknotes can only be purchased for Chinese goods. This seems to be a great loss, but in the face of high profits, the Portuguese are still willing to trade.

They even pioneered international financial trade.

At the beginning, the goldsmiths in Macau in Portugal used their own currency, Escudo, to acquire silver from their compatriots who worked in China, or directly acquire paper money, and then lend these paper money to their own and foreign merchants at high interest rates. Because the Ming Dynasty prohibited the circulation of foreign currencies, these Escudos were still in the bank. There were only some changes in the book.

Such a non-principal transaction quickly attracted the covetousness of other merchants.

Businesses in Guangdong began to spontaneously purchase grain from Vietnam and other places, or establish military farms in Zhangjiakou and other places in exchange for banknotes in the north, which was a form of opening-China French. These banknotes were regarded as purchase licenses, so they could be sold to foreign merchants at a premium of 10%. Even if the grain cannot be made, they will never lose money, so the income from reselling the banknotes alone will be 10% net profit.

Net profit without taxation.

With 10% net profit, people in Jiangnan gradually began to deposit a large amount of silver into the Imperial Bank, so much so that Jiang Chen felt pain in the shortage of paper money.

In the Ming Dynasty, there are more than ten paper mills responsible for the manufacturing of banknotes, and three printing factories are fully printing banknotes. Even so, the output of banknotes is still not satisfied.

"Your Highness, you must print a large denomination currency." Jiang Chen said, "And it must be a banknote that prohibits the return of silver."

What else can Zhu Cixuan say about this? Europe's strong desire to buy silk, tea and porcelain is surprising. In order to meet the demand for money and stimulate exports, printing currency symbols on large bills is an imperative thing.

"First print one million taels of banknotes with a denomination of one thousand taels. It is prohibited to purchase silver. Others are just like domestic small notes." Zhu Cixuan said.

Under the stimulation of Chinese goods, the already gradually declining inflow of silver actually caused another small **. Although Spain prohibited the outflow of silver, the peso and Indian rupee were still sucked into the vault by the Ming Dynasty, in exchange for exquisitely printed banknotes.

After the Dutch lost Taiwan, although they threatened to retaliate, the competition for maritime hegemony between their own country and Britain became increasingly fierce and friction became increasingly frequent. If there were no accidents, the British-Dutch naval battle in the original historical script would be staged as scheduled. There was neither the military force to attack the Ming Dynasty nor the sufficient amount of silver transactions. The Dutch were in danger in Southeast Asia's economic and trade system, and finally let the Portuguese see the possibility of seizing Java.

However, these are not Zhu Cilang's concerns, and Zhu Cilang pays more attention to the inclusion of silver in Jiangnan.

As a poor silver country, China was dominated by copper coins in all dynasties before the mid-Ming Dynasty, and silver was only an auxiliary currency for bulk transactions. The reason why silver quickly became the mainstream currency in the country after the mid-Ming Dynasty was because the southern players accumulated a large amount of silver through maritime trade. They could not bury all silver in the ground and had to use it. This is the truth that silver became the mainstream currency.

When Zhang Juzheng was in power, the whole country paid taxes with silver, which was in line with the wishes of the southern powerhouses, but it greatly increased the burden on the northern farmers. Because the silver in the north was short of silver and the exchange price was high, the country collected only silver, which made the grain fall in disguise. In order to pay the tax, farmers had to sell food at a low price, which eventually led to a tragic situation of bankruptcy in the year of bumper years.

In view of the natural disaster, Zhu Cilang's policy to the northern provinces is still two-way support for grain and currency. For farmers who have lost land and went bankrupt, they inhale various government-run and civilian organizations and get rewards by selling their labor. For self-cultivated farmers who are struggling on the food and clothing line, food subsidies will be given. For small landlords who have reached tax qualifications but lack the ability to pay tax, technical subsidies will be added.

"Shaanxi, how are the tax subsidy plan for Shanxi next year?" Zhu Cixuan asked Jiang Chen again.

Jiang Chen said: "The outlets in each county have been opened and the personnel have been dispatched properly. However, the specific tax amount will not be determined after the harvest is counted next year. Because according to the Ministry of Revenue, Imperial Bank only subsidizes the entire tax amount."

"This is also to test the actual operating capabilities of bank branches to be cautious." Zhu Cixuan reminded at the end.

Jiang Chen nodded and said yes.

A bank with only two business points cannot be considered a real bank. However, in this era without electricity, communications, and poor transportation conditions, it is no less than to build another Great Wall to open an imperial banking network in the world.

"Your Highness, I will go to Shanxi and Shaanxi next month, and it will be absolutely unhindered when taxes are collected next year." Jiang Chen issued a military order.

Seeing him with a serious look, Zhu Cixuan smiled and said, "Telling you something is also a relief. Next year's regular tax can be paid by farmers at any time throughout the year, so you don't have to worry about many people coming in one go."

Jiang Chen was indeed relieved, so he would not have to send more staff during the tax season. However, even so, the work progress of Imperial Bank was still too slow. In this year's self-application exam, Jiang Chen applied for low-interest assistance loans together, but now after laying out outlets in Shandong and Shaanxi provinces, he has no more effort to do anything else.

If you cannot complete the exam, your future will be dark and not mention it. How much less will you have to get? Thinking of your bonus, Jiang Chen thought of the task of replacing salary by officials at all levels.

After the Crown Prince abolished the ward, there were more than 1,500 prefectures and counties in the Ming Dynasty, with two administrative and judicial systems in each county. At least seventy or eighty people ate imperial grain, and as many as more than a hundred people. The salaries of these people will be all taken from the bank in the future and they will be paid in the business offices of each county. What a great workload!

Zhu Cilang saw Jiang Chen's face changing expression and knew that he had a lot of things to worry about, but in the final analysis, it was that he was short of manpower. The majority of the Ming Dynasty, with a population of 150 million, is an agricultural population. If he wants to change employees, he can still be competent, but if he changes his position, he will not be able to catch him.

There is no way to solve this problem, that is, to introduce a commercial bank mechanism and contract a large number of cumbersome grassroots businesses to private banks. In fact, the salt merchants in Lianghuai have not used this idea. They not only advocated it in newspapers, but also handed over the title book. However, Zhu Cixuan refused to publish it all, and did not intend to open the financial field to the public.

What's more, these salt merchants are not very ethical, and they are not much better than the Shanxi merchants in Zhangjiakou.

The profit of salt was so high that even Zhu Cilang's country still implemented monopoly in his previous life. In that era, the country had only two monopoly trading, one was tobacco and the other was salt. It can be seen that no matter how low the price of salt was, there were still huge profits.

The salt price of the Ming Dynasty was six times higher than that of the Northern Song Dynasty, but the salt tax revenue was one-quarter of the Northern Song Dynasty. The Northern Song Dynasty collected 30 cigarettes of salt per kilogram, and the Ming Dynasty collected 22 cigarettes of tax. The difference between the two was not much. However, considering that the population during the Chongzhen period of the Ming Dynasty was more than twice that of the two Song Dynasty, the salt tax revenue was so low, which was a problem.

What's more, according to the salt taxes and taxes set during the Hongwu period, every 6 taels and six cents of qian and four cents of qian were earned. According to the national salt production of 2 million, the national annual salt tax revenue should be 13.28 million taels.

Since the founding of the Ming Dynasty, the salt tax has been received by only 2.5 million taels per year. Where have the other salt taxes gone?

Zhu Cixuan's attitude towards them is very simple: let them "sleep in sleep", cut off their main source of wealth, and force them to spit out the wealth in their pockets little by little. Smart people may use this to break into a butterfly, while stupid people will only die. (To be continued...)
Chapter completed!