The eastern coastal rural areas have just entered the summer harvest season in February. Thanks to Tianzun for their favor, the government for their huge rural water conservancy facilities, and even more for the excellent seeds provided by the Northern Botanical Garden and the Northern Seed Company. The total grain output on the eastern coast has increased by a certain amount this year on the basis of last year. The national grain reserve warehouse has also started to operate at a high speed. They took the brand new silver dollars just stamped by the First Mint in Dayuhe and opened up the purchase of various grains in the hands of farmers: wheat (accounting for 60% of the total), corn, soybeans (accounting for 20%), and a small amount of sweet potatoes and potatoes. These grains will be brought back to become fans by the state-owned Dafeng Food Company.

Ordinary farmers, the national grain reserve warehouse and the Northwest Reclamation Bank that provides financial services to the two constitute the bottom part of the east coast economy, that is, the vast rural economy. This part of the economy is mainly agricultural activities and is relatively local. Although it has some characteristics of commercial agriculture, overall, it is still a social and economic system in the pre-capitalist era.

In the upper class of the east coast economy, it is a highly capitalist social and economic system composed of the state and a small part of private capital. It is specifically reflected in the production of various necessities of daily necessities and means of production in the upper class, and monopolizing the trade of agricultural products. The bottom-level natural economy of the entire rural area is completely subordinate to the upper-level capitalist economy.

There is no clear distinction between the lower-level economy and the upper-level economy, but the difference is still huge. In terms of currency, there are huge differences in the currency between the two. In the lower-level rural economy, the more common are copper coins, silver coins, paper one-year and two-year bank acceptance bills. The public recognition is not very high; but in the upper-level industrial economy, the most common are bank acceptance bills with various denominations (many are large denominations). These bills of exchange are circulated back and forth between enterprises and individuals and are constantly endorsed, while coins are rare.

The connection between these two types of monetary systems is probably carried out through several channels such as exporting special products (agricultural products) and importing consumer goods trade payments, public expenses (tax, water conservancy construction levy, special national defense fees, etc.), and wage payments (working during the slack farming period, usually construction sites). The institutions between the two are probably the national grain reserve warehouse, local department stores, construction teams under the jurisdiction of the Ministry of Transport and the State Administration of Railways, and the Northwest Reclamation Bank.

However, with the influx of Ming people's immigrants, especially some merchants who had wealth in the Ming primary school, small landlords either actively or passively came to the east coast. Financial activities in rural areas began to sprout and gradually developed. At present, there are signs of private private finance. One is the Xiling area, mainly composed of the so-called "Qingzhou Gang" merchants in Luoqia County; the other is the Nanyazihu ​​area, mainly composed of a group of Shandong Jining immigrants from Xihu County, a major agricultural county. The local Ming people called it the "Jining Gang".

After entering the East Coast with a small amount of gold, silver, jewelry, and jade, these people gradually took root in the local area and then opened mobile grocery stores, specifically avoiding large chain syndicate enterprises, the East Coast department store, and entered the vast rural hinterland, selling various daily necessities to local farmers, and purchasing the remaining goods (mainly grain, occasionally some wool, leather, animal fat, etc.). Over time, they established a very close relationship with the local farmers and their credibility increased. At this time, many vendors who completed this first step of accumulation (capital accumulation and relationship accumulation) began to transform, and they began to make small loans to some farmers who urgently needed money. Shao Yuanyi from Mucaoling Township, Xihu County was such a person.

Of course, when Shao Yuanyi immigrated to the East Coast, he was penniless and had no original funds. His capital accumulation was all based on part of the patent rights and interests of the invention of aspirin drugs, as well as some high income obtained from practicing medicine and selling drugs. But in essence, he was the same as those vendors, with funds, relationship networks, and good private reputation. Their lending was diverse in form, some were cash loans, some were sold on credit, and some even had some bills of exchange discount businesses, which was a big surprise.

Shao Yuanyi now built a small shed in his yard and opened a "financial institution" similar to a pawn shop. The grains, leather, livestock, wood, even chickens, ducks, poultry and eggs sent by farmers can be collected here in exchange for the cash they urgently need. These messy things are difficult to pledge in the Northwest Reclamation Bank according to business regulations, so these farmers can only look for wealthy families in the countryside and obtain funds through underground pawn shops.

In addition to the "pawn shop", Shao Yuanyi also started pure cash loan business in his study, and it was also the kind of unsecured cash loan that was difficult to obtain approval in banks. Since Shao Yuanyi lived in the countryside for many years, he knew very well who could borrow who could not, and who could recover his loan and who could not recover his loan at all. After doing this targeted, the risk of non-performing loans would be greatly reduced, which is also an advantage that large financial institutions such as banks do not have.

"The Northwest Railway Construction Bond issued in 1646?" Sitting in his study, Shao Yuanyi looked over and over with a piece of paper in his hand. The "paper" is indeed true. The Ministry of Finance issued a five-year and ten-year construction bond of hundreds of thousands of yuan in the whole society before the start of construction of the Northwest Railway. This "paper" should have been purchased at that time, and it was an unnamed bond, so it was mostly sold among the people.

"Yes, sir." Sitting opposite Shao Yuanyi were two European men, one of whom was older and seemed to have been a citizen of the East Coast for a while, and the other was a young man who came to work in the East Coast. He was stuttering in Chinese and didn't speak very carefully. At this time, the young man with a beard on his face was talking.

He looked at Shao Yuanyi nervously and said in a language that Shao Yuanyi could not understand. The middle-aged man next to him was responsible for translating: "This is paid to me by Mr. Valentino. I worked for him in a logging camp for five years, and then he paid me twenty silver dollars and such a railway construction bond. I didn't want it at the time, but he was very impatient. His subordinates also threatened me and said that everyone was like this. But I didn't know that this bond would not be redeemed by the end of next year. Now Laojun Miao Township is recruiting land reclamation immigrants, with a deadline of three months, and this month is the last month. This time, only five yuan per acre of land is available. The church can apply for nationality for us and also provide housing mortgage loans for everyone. I missed such a good opportunity. I don't know when I will wait next time..."

In the end, this young man from Scotland almost burst into tears. Yes, the land reclamation activities organized by the church have always been considered an excellent opportunity. Not only does he have cheap housing, but his wife also has a church to help him organize it, which is very cost-effective. After missing this time, he not only missed the opportunity to farm for a year to make money, but also of course he lost the opportunity to obtain these benefits. These foreign active immigrants were not in a hurry.

Speaking of this, the middle-aged man next to him also said a few words: "Ferguson cut down trees in the logging farm for five years. He has been working diligently and has no violation of labor discipline. He is really a very good young man. He used to work in the deep mountains and forests, and he didn't learn Chinese much, and his oral skills were lacking. But now he takes time to study every night and is very attentive. Mr. Wang in the village praised him, saying that he is the fastest-progress person in the language class of "Huaxia". This opportunity is rare. I hope Dr. Shaw can help me. The bank's loan quota this month is used up and I can't make a mortgage loan. My family's money was spent a while ago, otherwise I would have to help Little Ferguson." The middle-aged man also comes from Scotland, so he takes great care of this young man.

"Um..." Shao Yuanyi pondered for a while, then sighed and said, "I am also a veteran. I understand that the opportunity is rare, and of course I will not miss your future. This way, young man, I will give you some discount this time. Your bond is worth 100 yuan, and will be redeemed on December 31, 1651, and will be paid on January 1 every year. The interest this year (1650) seems to have been taken away by your Mr. Valentino, so there is still another interest for this bond. Well, I won't say much, I believe you understand the true value of this bond..."

After saying this, Shao Shude signaled his wife to take out 92 silver dollars from a wooden safe, counted it and put it in the hands of the young man Ferguson, and said, "Since you have chosen to be this railway construction bond, then according to the rules, pay 92 yuan in 92 discount, there is 92 yuan in cash here, and you have taken it, and this bond will have nothing to do with you in the future. All rights and interests belong to me. This is a discounted price. Convenient with others is convenient for yourself. If you get the money, hurry to report to Laojun Temple Township. It is already mid-February, and the time is not very good. Go quickly, boy!"

After carefully counting the 92 silver dollars on hand and confirming it, the young man Ferguson smiled gratefully at Shao Yuanyi and said, "I am very grateful. Dear Doctor Shao, Tianzun will favor you."

Shao Yuanyi smiled slightly and was frankly grateful to the other party. This business did not benefit much from him, but as the saying goes, being convenient to others and oneself is a good reputation for private lenders like them. This not only involves others' views on themselves, but also concerns the perception of government officials towards them, such as active rural markets and promoting the circulation of money. Once the perception is poor, many things will not work so well in the future. (To be continued, please search for astronomy, novels are better, updated and faster!

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Chapter completed!