1850 American Gold Tycoon.

Chapter 303 Where's the money?

Minister of Industry Fair himself is a gold mine owner, and his speech also represents the thoughts of the vast majority of gold mine owners.

Liang Yao also agreed with Fair's point of view. He has been imposing heavy taxes on the gold mining industry, which is indeed an act of drinking poison to quench thirst.

Gold is a golden signboard for California to quickly attract immigrants. If this signboard is smashed, California is no different from other new states.

"It is really inappropriate for the gold mining industry to continue to increase taxes."

Seeing that the crowd was still arguing endlessly, Liang Yao expressed his position and motioned the crowd to sit down and think of other ways.

Liang Yao's statement made the California dignitaries who run the gold mine breathe a sigh of relief.

"How about reducing the original three-year tax exemption policy for industrial and mining enterprises to two years?" Minister of Agriculture Chen Baoliang suggested.

After all, no matter what sector it is, it hopes to solve this crisis by raising taxes on other sectors.

California’s tax-free policy for industrial and mining companies has been implemented since 1851. Now this policy has been implemented for two years. As soon as this year is over, the state government can collect taxes from industrial and mining companies that began to enjoy the tax-free policy in 1851.

Liang Yao has also considered the introduction of consumption tax, but the consumer market in California has not yet grown up, and it is not yet time to levy consumption tax.

"Credit is the most important asset of a government. If the California government changes suddenly, I am worried that the people of California will lose confidence in us in the future. We cannot overdraw the credibility of the state government." This time, Robinson stood up to object.

Robinson's words also touched Liang Yao's heart.

In order to achieve something in the Civil War 8 years later, the California government must maintain a relatively high prestige among the California people, so that the California people trust and even obey the state government.

Based on this alone, Liang Yao couldn't make such a decision of believing in the wisdom of future generations and let the next California leadership team wipe their ass for them.

Besides, the next team of the California California government is likely to be his own team, and doing so will also add trouble to himself in the future.

"The people cannot be established without trust, and the state cannot be strong without trust. Since the tax exemption policy promised to industrial and mining enterprises was written in black and white for three years, it will be three years, and it cannot be discounted for a single day." Liang Yao stood up for Robinson, and immediately picked up the table He took a sip of water from the water glass on the table to moisten his throat, and continued.

"As long as we get through this year and persist until next year, the first batch of working enterprises, land reclamation companies, farmers, and farmers who enjoy the tax exemption policy will be able to pay taxes next year, providing California with new tax sources. It will get better."

California's financial woes are not desperate, they are temporary.

As long as we persist until 1854, when the first batch of industrial and mining enterprises, agricultural units, and individuals enjoying the support of California policies start to pay taxes, the state government can reduce its dependence on gold mining taxes, and the life of the state government will be much easier by then.

Of course, the premise of all this is to survive this year.

1853 will be the most difficult year since California's statehood.

"In this way, the financial situation this year will naturally be very difficult." Deng Wenyu showed embarrassment.

"It's hard for a smart woman to live without rice. If the Ministry of Finance has no money, the state government will not be able to survive this year. Since there is no way to increase revenue, we can only reduce expenditures. The expenditures of various departments should also be reduced. Let's tighten our belts and grit our teeth. .”

"The expenditures of all departments remain the same, and every policy cannot be discounted." Liang Yao has no intention of tightening his belt to live.

Once these preferential policies are discounted, California's economic growth rate will also be discounted, California's economic growth rate will be discounted, and California's industrialization speed will be discounted accordingly.

With only 8 years left until the outbreak of the Civil War, California is running out of time, and he must race against time to develop.

"What about the money?"

After hesitating again and again, Deng Wenyu plucked up the courage to ask back.

"How much is California's financial deficit expected this year?" Liang Yao asked.

Deng Wenyu immersed himself in the calculations on the paper, and then gave the answer: "It is more optimistic and roughly estimated that this year's California fiscal deficit will be 360 million US dollars, of course, this does not include last year's 190 million US dollars of financial deficit. "

"What about a pessimistic estimate?" Liang Yao asked.

"Then there will be a financial deficit of at least 450 million U.S. dollars this year. As for the specific amount, it depends on the quantity and quality of immigrants this year." Deng Wenyu pinched his chin and said after a long pause.

"Okay, I will find a way to raise 640 million US dollars for the Ministry of Finance to tide over this year's difficulties." Liang Yao said through gritted teeth.

"What can you do?" Strauss, who had been silent all the time, asked.

"Borrowing debts." Liang Yao said, "And this time Japan's indemnity, I will also fight for a part of California. In the military operations of the Japanese expedition, our California contributed the most, and it is reasonable to ask for some indemnity as compensation."

Since there is no way to raise money for the time being, and Liang Yao doesn't want to save money, he can only borrow money first.

After making up his mind, Liang Yao asked Robinson about the situation of the Boston Bank. Robinson told Liang Yao that the Boston Group has been expanding at a high speed in the past two years. A lot of the bank's money has been released, and there is not much reserve.

Robinson said that he could persuade the shareholders of the Bank of Boston to borrow a small amount of emergency money from the California government, but the amount would not be too much, estimated at around $80.

The situation of Liang Yao's Bank of America is similar to that of the Bank of Boston. With the rapid economic development, all walks of life in California are increasing their leverage, especially the banking industry.

Although the Bank of America's reserves are considerable, Liang Yao himself still has a cash flow of 900 million US dollars on hand, but he has reserved this money for the petrochemical industry and the construction of the Pacific Railway.

Although the cash flow of 900 million US dollars seems to be a lot, if it is used to invest in the petrochemical industry and build the Pacific Railway, it will be heard at most.

But since the Bank of Boston is willing to spend 80 US dollars, the Bank of America is more or less interested.

After some thought, Liang Yao decided to ask the Bank of America to contribute 100 million US dollars.

After deliberation, the Ministry of Finance finally decided to issue 150 million US dollars of state bonds in the state.

In this way, there is a gap of 310 million US dollars left.

For the remaining $310 million gap, Liang Yao decided to first find Gypsy and Legoff, two British and French bankers in California, to see if he could borrow some money from them to fill the gap.

If they didn't want to borrow, or if the requirements for lending were too harsh, he could go to Wall Street to raise money.

How can a majestic multi-millionaire be suffocated with a mere $310 million?
With his current worth and reputation, not to mention borrowing, as long as he is willing, it is not impossible to go to Wall Street to cheat millions.There is no shortage of elites, liars, or fools in the financial market.

After the opening, after leaving the conference hall, Liang Yao stood under the towering Chinese watch, and said to everyone: "The state government office building in Sacramento is not finished yet. If it is not finished, the progress of the project will be slowed down first. To save."

(End of this chapter)