A Good Landlord in the Tang Dynasty: Emperor Yuan Cong

Chapter 1091 Check the library
in the hall.

Wu Huaiyu petitioned the emperor to formally stop seizing money, stop lending money to public servants, establish three government-run banks, and strengthen the supervision of private lending. It was stipulated that the monthly interest on loans should not exceed six cents, compound interest should not be compounded, and the interest should not exceed the principal level. .

Like a stone thrown into a calm pond,

There were ripples all of a sudden.

aroused numerous objections,

Wang Gui, a third-rank disciple of Tong Zhongshu, objected loudly. He believed that it was right for the imperial court to stop seizing money and order Shi to stop the government and lend money, but how could he still build an official bank to lend money?

Wei Zheng also objected loudly. He hated moneylenders the most. In order to marry the Wang family of Taiyuan, he had borrowed money to lose his family fortune. As a result, the loan sharking almost forced Wei Zheng to hang himself. Now when he mentioned lending money, he hated it.

In the eyes of Old Man Wei, those who lend money are the most unscrupulous people. How can the imperial court become a moneylender?

But Li Shimin had already reached an agreement with Wu Huaiyu.
Wu Huaiyu was also full of confidence when he stood in the court today. He fought against the ministers alone with his sharp words.

Of course Wu Huaiyu would not talk about government-run banks making money, but he would talk about regulating the industry and helping the people.

Are you, Wei Zheng, unwilling and unhappy?

Loans to assist farmers and business loans are only two to three points, and the highest loan does not exceed four points.

In this way, people who have spare money can earn some interest.
Farmers and businesses in need can also meet their financial needs. This is a win-win situation.

After the abolition of public money lending, these yamen in the capital still have public money, of course. The main sources are the transfer of fire expenses after they are returned to the public, the allocation of money and grain from allotments, and the special items for tax retention.
Nowadays, government-run banks are making profits, but they also have to set aside a sum of money to subsidize the government.

In fact, many people think Wu Huaiyu's plan is reliable, after all, he has so many successful experiences.

Chang Pingcang has been doing well over the years, not only helping many people but also increasing revenue for the court.

A green crop loan only costs 2 cents interest.

Of course, at the end of the argument in the Golden Palace, Wu Huaiyu used his trump card.

"Nowadays, borrowing is generally multi-fold, and those who are in urgent need of borrowing face a huge burden. Now the imperial court is interested in meeting the needs of the people and relieving their difficulties.
The three major government-run banks provide loans to the common people with a monthly interest of only 2 cents, and support loans to small businessmen and hawkers, with a maximum monthly interest of only 4 cents.

But if the court only said that the loan could not exceed six cents, but if the people could not borrow the money, it would still be empty words. Therefore, the court had to set an example and provide real money and silver to lend to the people to solve their urgent needs.

It has contributed a lot to the rise of Zhenguan,
Everyone has seen it, and now Wu Huaiyu is saying that the government-run bank will be transformed into a government-run bank, and the lending interest rate will be adjusted.

The same is true for government-run banks now, and Wu Huaiyu even thought of a capital solution to attract people to deposit money and then lend money.

You have been caught in the rain, are you not willing to hold an umbrella for others now?
"The government-run banks that the imperial court wants to set up are essentially the same as Chang Pingcang. They are both for the benefit of the people."

That is, the annual profits of the three major banks will be turned over to the national treasury, and then a special project will be set up to allocate part of them to the local yamen in the capital of the Tang Dynasty as public subsidies.

But Wu Huaiyu doesn't think so. Are there still few state-owned enterprises in later generations? Moreover, state-owned enterprises are also an important force. Even today, are there still few handicraft workshops in Shaofu Temple?
Officials like Wei Zheng lack this ability, so they are always afraid.

The imperial court also issued a decree restricting the monthly interest on loans to no more than six cents, and the interest to no more than the principal. Aren't these good and benevolent policies? "

They were eager to go back to the past, and it would be best to restore the well-field system of the Zhou Dynasty, which would be the easiest to manage.

Wu Huaiyu stood in the hall,
Even Wei Zheng was speechless. When you Wei Zheng wanted to marry five surnames, a dignified fourth-rank official lost his family fortune for one million. He was so strapped that he had no way to borrow money. In the end, he had no choice but to borrow loan sharks at usury. Later, he couldn't afford to pay back. At that time, if there was a government-run bank, it would be willing to provide loans with two-cent interest or three-cent interest.

Wei Zheng could not argue, but he still believed that this was a misunderstanding and that the court should not set up banks to lend money.

What a good policy, how caring and helping the people. Don't you prime ministers care about the people?

Wu Huaiyu is the Minister of the Ministry of Civil Affairs, and this is not the first time he has held this position. He previously commanded the Third Division and led the two-tax reform. He also perfected Chang Pingcang and others.

This involves all government officials,

Including subordinate officials are also the beneficiary group. If the money is larger, then everyone can get a lot of benefits. Not only will the food in the free canteen of the yamen be better, but there will also be better benefits such as charcoal and annual benefits. .

Once this trump card comes out,
The opposition immediately became much quieter.

Only Wei Zheng and Wang Gui were still stubborn.

But the emperor was already stroking his beard and laughing, very wise and obeying the public opinion.

"Since it benefits the country and the people, we should do it and leave this matter to Wu Sikong."

"Prince."

"Father, my son and minister are here."

"You also participate in this matter and study hard with Wu Sikong."

That's how the matter was settled.

Then comes the formal operation stage.
A few days later, Wu Huaiyu presented another book to the emperor.
Request the imperial court to prohibit any other imperial institution from lending to the private sector except the three major government-run banks.

I want to put money into the public house again, but that won’t work.

It is strictly forbidden. If any yamen dares to mess up, the chief will be held accountable first, and he will be vetoed with one vote and punished directly. It is very severe.

Of course, Wu Huaiyu also considered that some yamen must have some small treasury, etc. If the money cannot be loaned, it will be dead money if it is not used, which will inevitably be a waste of resources.

Therefore, he suggested that the emperor could allow these government agencies to take the money to the official bank for deposit and interest.

This is two different things from lending public money.
When the yamen deposits some of its surplus funds into government-run banks, it will receive interest on the deposits instead of lending and collecting interest on its own, and there will be no problem of forced suppression of allocations.

As for the amount of interest, it depends on the amount of principal. If the amount is large, the interest can of course be negotiated.

If it is a general deposit, the interest rate will be based on the general deposit interest rate. The specific interest rate is of course also divided into current deposits and fixed term deposits. Wu Huaiyu's suggestion was actually to attract savings. After all, the three major government-run banks currently had no capital.

The main money-making business of a bank is lending, but how can you lend money if you don't have the capital.

Wu Huaiyu then wrote another memorial.

Although it has been twenty years since the founding of the Tang Dynasty, these days there are wars on the frontiers and disasters in the interior. As a result, orphans are everywhere, and households and properties without owners are everywhere.
These properties have also caused many civil disputes, etc.

The Wu family has adopted many orphans over the years, and is quite familiar with this. He suggested that the imperial government should come forward to conduct a census and register all the properties belonging to orphans and extinct families, and then let the government take care of them.

The imperial court set up a special inspection library to keep these properties and be responsible for their operation. The school treasury will distribute a sum of money to the orphans every month as their living expenses.

When the orphans grow up in the future, the property that belongs to them and is registered in the school inspection treasury will be returned to them.

This is also the basic interest of protecting these minors who have lost their loved ones.

Of course, since the inspection bank registers and keeps the property of those orphans and extinct families, it will be a huge sum of money, so it is best that this money can also earn interest.

This interest can also be used as the cost of the state's operation of the school inspection bank to protect the interests of the orphans, making the school inspection bank better run.

Of course, the inspection bank is not suitable for lending by yourself.
Therefore, the funds from the inspection treasury can be directly handed over to the three major government banks for lending on their behalf, with agreed interest rates.

In this way, the inspection bank will also benefit, and the three major government-run banks will also benefit, a win-win situation.

This is another policy that benefits the people.
Of course Li Shimin would not refuse,
As soon as it was announced in the early morning, even Wei Zheng felt that he could not object. So many orphans did exist. It is also a fact that many families are exterminated. People fight for the orphans' property to deprive them of their families, and there are many conflicts and disputes. After all, depriving them of their families is just ugly and causing a lot of trouble.

But those orphans are indeed pitiful, and Wu Huaiyu's plan to inspect the school library is very good.

Don't let those relatives and friends come to fight for property.

Let the court keep their property on their behalf, and the court will issue a monthly living allowance. Whoever is willing to raise the orphans on their behalf can get this living allowance.

When the child grows up, the government will return the property held for him to him.
How good.

Wei Zheng was very moved after hearing this.
In the past, civilian orphans could generally only be raised and cared for by clan relatives, etc. However, many people did not receive real care, and some even just wanted to get property.

But now that a school inspection treasury has been set up to keep the property on your behalf, no one should worry. The court will issue alimony on a monthly basis, and whoever raises it will get it. When the orphan reaches adulthood, the property will be returned to him.

of course,

Not all orphans in the world still have family property.

Therefore, when the school inspection bank is established, the recovered property of extinct households can be used to provide living expenses to the propertyless orphans, and even to establish some orphanages, nursing homes and other welfare institutions.

If all the properties of orphans and extinct families in the world were registered and collected, it would be a large sum of money. If deposited into the three major banks, the interest would be considerable.

If this thing can really be done,

How many orphans will we have to feed and take care of in the future?
The inspection bank established by Wu Huaiyu is actually equivalent to trust financial management.

"The money kept in the inspection treasury is deposited in the government-run bank. How much is the interest? Can the safety of the capital be guaranteed?" Wei Zheng asked.

Deposit interest,

This is also something Wu Huaiyu has been thinking about recently.

In the past, there were no real interest-bearing deposits. They were usually depository and custody services, which required a custody fee. Of course, some common people, merchants and landlords may give some spare money to temples or shops, make loans on their behalf, etc., and agree on the profits.

"The current tentative loan interest rate for government-run banks is two to four cents per year,"

The annual interest rate is 20% to 40%, which is still relatively low, and the lowest monthly interest rate is only a little over one cent.

Since the interest rate on loans is low, the interest rate on deposits cannot be high either.
Therefore, the initially planned deposit interest rate is 5% monthly interest rate for current deposits, and 6% interest rate, 8% interest rate, and 1 cent interest rate for regular deposits from half a year to one year and three years respectively.

The maximum term is three years, and the annual interest rate is tentatively 10%.

If you save a certain amount of money, the interest will be 100 yuan in one year and 300 yuan in interest in three years.

If this interest were placed in future generations, it would be ridiculously high. Future generations will enter the era of negative interest rates, and the three-year period will be less than three.

But now, after all, the annual interest rate on loans can reach 40%, and even private loans often exceed 100%.
Therefore, in these three years, I have only earned one point of interest, which is indeed not high.

Of course, if it is a large amount of money, you can make an agreement with the bank, and it is possible to get one and a half or even two cents.

The money from the school inspection treasury can be deposited in the three major banks, and you can deposit part of it with one cent interest for three years, and the annual interest rate is 10%, which is pretty good.

After all, if money is deposited in the three major government-run banks, the principal is guaranteed to be safe and reliable, and there is stable and reliable income, which is still good.

Wei Zheng also thought it was good.

If every cent earns interest, the money spent in the school's treasury will continue to grow, and these orphans will also receive stable assistance.

But if you think about it carefully, the maximum deposit interest here is one point, while the maximum borrowing interest is four points. There is a direct difference of several times.

Wu Huaiyu's plan was really sound.

One point for absorbing savings, four points for lending, and he made a lot of money.

Even a two-cent Green Miao Loan has earned double the interest.

(End of this chapter)