"How much currency is circulating in the domestic market now? Has anyone ever done similar statistics or estimates?" Qiang Quansheng, the former director of the State Administration of Precious Metals, who is over 50 years old, is currently the Minister of Finance and the Central Executive Committee, asked a group of subordinates in his office.

Most of the subordinates summoned today are people in the financial system, such as Zhou Shenwo, the current director of the State Administration of Precious Metals Administration, who succeeded as the "President of the Central Bank", the president of several largest banks in China (Northwest Reclamation Bank, United Industrial Credit Bank, Commercial Clearing Bank, La Plata Bank is a joint venture bank, and the Genoese serves as the president, so he was not invited to attend the financial work conference), the director of the First Mint, and the chief of the section chief who specializes in economic statistics in Meiyuan, are basically the people who know the most about the current financial and economic situation of the East Coast Republic of China.

Today, the Eastern Coast Republic is relatively abundant, and of course it is just "relative". Most of the poor deposits absorbed by several major banks are loaned to large backbone enterprises with the ability to earn foreign exchange, and the profits they obtain through lending are forced to purchase a large number of national construction bonds. It can be said that they have been squeezed out inside and outside, and there is no extra money to play with more tricks.

Most bank deposits are loaned to large state-owned enterprises, and the newly emerging private enterprises in the East Coast are facing the dilemma of not having enough food. These enterprises are mostly concentrated in light industry industries targeting the domestic market, such as machine powdering, furniture manufacturing, rope making, pickling workshops, deep processing of fruits, oil pressing, feed production, dairy products, etc. They are basically industries closely related to the daily production and life of ordinary people, and the products produced are also mainly used in the East Coast.

Among these industries, except for a few industries with a deep degree of mechanization (such as flour), other industries are limited by factors such as production scale, labor costs, financing costs, and insufficient technology. The development is not very rapid, so some products need to be imported from nearby Brazil and Peru to fill the gap, which makes the whole country feel a little unsatisfied. For this reason, the State Council also held a special economic work conference a while ago, focusing on how to guide domestic capital to invest in the light industry that these countries are currently unable to take into account, in order to improve productivity, prosper the domestic commodity market, and reduce the living costs of the people.

In this meeting, the financial department was considered the focus of attention. The State Council’s opinion is that the finance department should give full play to its subjective initiative and actively guide the capital accumulated in private investment in industries to improve the utilization rate of funds and create more wealth. After all, only by allowing money to continue to "travel" can its true value be realized.

"According to our years of statistical data, the total amount of monetary wealth that less than 300,000 local citizens now hold may have exceeded 12 million yuan, about a quarter of which exists in the form of acceptance bills, and the rest are precious metals - well. More than 90% are silver coins." Zhou Shenwo, director of the General Administration of Precious Metals Administration, cleared his throat and replied with a word.

To be honest, although his data refers a lot to some previous statistics, it depends on estimation and guessing. They use various calculations to calculate the production and wholesale quantity of major commodities (grain, cloth, salt, meat, fish, etc.), and finally comprehensively process their respective data to draw this conclusion. As for whether this data is accurate or not, it depends on the opinion. Anyway, the State Council has accepted the answer given by the State Administration of Precious Metals and formulated policies based on this.

However, Qiang Quansheng himself seems to have some doubts about this data, because in the data submitted to him by Zhou Shenwo, it is clearly stated that the wealth accumulated in China is about 12 million yuan (at the same time, the currency circulating in the market is about 2 million yuan), which makes him a little confused. Why is there so few currency circulating but there is no serious tightening in the market? Zhou Shenwo explained that most commercial trade on the East Coast is used to completing it in the form of checks, bills of exchange, etc. This method is actually just to transfer the dominance of the currency from one bank account to another, and does not require many additional precious metal coins in the market.

In addition, he also pointed out that the people of the East Coast, especially farmers, are accustomed to hiding the precious metal coins at hand to cope with unknown risks. This method is so popular that a considerable number of currencies flowing into the East Coast over the years have never entered the circulation environment again. The minting record of the First Mint on the East Coast is the most telling. They are constantly minting a large amount of gold and silver coins all day long, but the market is like a monster that is always full, which is really distressing.

"Can you find a way to get this money? On the one hand, many industries in China are short of money, but the private funds have accumulated a lot, especially in rural areas. Many soldiers who go abroad to fight come back are to build cellars and save money. How can they learn this bad habit? It's ridiculous to not like to deposit the bank for interest but save the cellars!" Qiang Quansheng said with some depression, "In 50, 51, we concentrated on exchange for a large number of acceptance bills issued to build railways a few years ago, which consumed a lot of cash reserves. But the problem is that the exchanged money has gradually settled in the private sector and has not flowed to the industry needed. It's really a headache. The momentum of inflation has just been curbed. Could it be that we are going to issue new commercial papers?"

"Doing more publicity, more ideological work, and more deposit interest rates can probably attract some accumulated funds, but you can't expect too much. I guess it's going to be more than 2 million." Zhou Shenwo took a sip of cigarettes and said with a serious expression: "But two million is only 2 million. You can also build a railway of 200 kilometers, build two medium-sized ports, or transform sewage pipelines and sewage treatment facilities in forty or fifty settlements. It's quite useful."

Zhou Shenwo's words actually have another meaning, that is, if all this 12 million funds are really circulated into the market, the economy on the east coast will not collapse on the spot. At that time, if the rationing system or price control is not implemented, it will be a mystery, and inflation can rise to the sky. However, the requirement of Qiang Quansheng also makes some sense. How to convince the owners of these funds to deposit money into the bank instead of in their own cellar is indeed a very meaningful job. After all, it is much more useful to concentrate the dominance of money from scattered individuals to the hands of the state, because only the state can make money make more meaningful "travel".

"Okay, the market supply of money must be well controlled, otherwise it may cause serious economic problems. This requires us to pay attention to the weighted price index table of a package of commodities at any time. The Mei agency has a long way to go in this regard." Speaking of this, Qiang Quansheng nodded to a section chief of the Mei agency attending the meeting, and then continued: "As for the structural money shortage that is now in the market, I think it's better to use the old method to solve it by injecting liquidity."

"Minister, it is natural to inject new liquidity into the market, but what method are we doing?" Zhou Shenwo asked, perhaps because he felt that his words were unclear, so he explained again: "What do I mean is to continue printing new acceptance bills, or to use gold stored in the Army's First Prison (the Tieling Gold Mine is currently produced, which is about 1.5 tons, which is about 750,000 yuan. Of course, if it is actually minted into currency, it will definitely be more than 750,000 yuan). What is the amount? "

"No, this time, no new acceptance bills will be printed, and no other commercial bills will be printed anymore. In the past, there were too many types of bills, too messy, and rough printing, which caused many problems. Therefore, the ministry decided to merge all bills into one type, that is, the newly issued treasury bills. Treasury bills will be guaranteed by national fiscal revenue, reserved gold in the First Prison of the Army and the commercial clearing bank's vault, and repay principal and interest upon maturity. The minimum term is one year, the maximum term is five years, and it is not well-known and can be transferred on its own without endorsement.

"Qian Quansheng said a long time ago, and then he took a sip of tea to moisten his throat and continued, "The amount is tentatively set to be 500,000 yuan! This injected 500,000 yuan of liquidity into the market. If it is invested in construction, it can drive at least three to four million projects, and the pace of national construction will move forward again. But, alas, the inflation that has just been curbed by the concentrated exchange of a batch of maturity notes is about to rise again, it is really a headache! There are so many large-scale infrastructure projects in China, and it is not easy to recover money!"

The members of the congregation nodded deeply when they heard this. As an economy that has been developing rapidly all year round, no matter how hard the government on the East Coast has tried and how many measures it has taken, the inflation level of this country has never been curbed. The weighted price index of the commodity counted by the Mei agency every month has increased year-on-year, which is really helpless. So a while ago, the State Council ordered a significant increase in the minimum wage to 6.5 yuan (the average wage bonus and welfare combined has long exceeded 8.5 yuan) to cope with the purchasing power of the people's increasingly small wages.

However, raising wages is also a double-edged sword, because it will increase the labor costs in the East Coast and reduce the competitiveness of East Coast goods. But in today's environment, what can I do? As long as I continue to immigrate and continue to engage in infrastructure, I will inevitably endure long-term inflation. As for business owners in the East Coast, they can only adapt to this unfavorable environment and constantly seek ways to reduce costs - such as introducing low-wage migrant workers, increasing the mechanized production level of products, obtaining cheaper raw materials, obtaining the commodity dumping market that they can enjoy, etc.
Chapter completed!