Shadow Spy

Chapter 308 There are rules for exchange

For the industrial and commercial people and residents of the concession, this news is equally shocking - the use of legal tender is no longer allowed?
However, when major newspapers published announcements, they also hired professionals from the banking industry to write explanatory articles, which directly pointed out that the reason why the circulation of legal currency in the concessions was to be canceled was because the depreciation rate of legal currency was too fast. Severe punishment has affected the normal operations of industry and commerce, causing the actual income level of workers to continue to decline. This is actually a kind of financial evil policy that robs people of wealth in disguise...

The people are not fools, and they quickly understood it, because they had definitely felt this in their work and life before, but only now did they truly understand the reason!
Coupled with the current series of measures taken by the concession authorities, the public is certainly more willing to believe what the Ministry of Industry and Industry Bureau says.

For the wealthy people in the concession, in fact, as early as last year after the German-Polish War started, they had already begun to exchange the legal currency in their hands into gold and foreign currencies. The legal currency they received would be exchanged immediately. The number of legal currencies in their hands now is not That’s too much.Therefore, this change in monetary policy will not have a big impact on them.

People from all walks of life in the concession quickly accepted the announcement, but it caused a lot of trouble outside the concession. In addition to the Chongqing government, which was directly involved, there was also a force that was angry!
Long before the start of the all-out war of resistance against Japan, the relevant parties in Japan secretly established a special agency called the "Sugi Agency" to specialize in the production of counterfeit legal tender currency of the Kuomintang government. It has been stumbling for more than three years now, and success is in sight. The Shanghai Concession, which is most suitable for large-scale use of counterfeit banknotes in exchange for supplies, has stopped using legal tender, but they are furious! ——
In addition, there is the problem of oceans. Since ancient times, Chinese people have loved to save money, from gold, silver, and copper coins in the past to various oceans after the late Qing Dynasty and the early Republic of China.

Broadly speaking, Dayang is the collective name for various "one yuan" silver coins that circulated from the late Qing Dynasty to the Republic of China. The basic attributes are: weight is about 27 grams and contains about 90% silver. That is to say, anything that meets this specification can be considered Ocean.

In this way, there are too many types, such as Longyang in the former Qing Dynasty, Datou, Xiaotou, Chuanyang, Han version in the Republic of China, etc.; in addition, there are various imported foreign currencies such as Spanish currency, Mexican Eagle currency, French currency, etc. It belongs to Indo-Chinese Liyang, Japan Longyang, British Liyang, etc., even the Netherlands' 2.5 guilders, France/Belgium's 5 francs, etc.

Moreover, at that time, the government still allowed the free casting and circulation of silver coins. I don't know how many forces were privately minting silver coins, which caused a variety of silver coins in the market and chaos.

Among all these oceans, Eagle Ocean has the highest silver content and is the most stable. There are two types, the lace Eagle Ocean cast before 1897 and the straight-edge Eagle Ocean cast after 1898. Both have the same specifications: diameter 39 mm, weight 27.07 grams, fineness 95.30%.

Because the currency value of Yingyang is stable, it was recognized as the standard by various forces and financial institutions as soon as it was introduced to China. When other kinds of oceans are officially used, they must be discounted according to Yingyang's standards. In fact, they are based on the content contained therein. The amount of silver is discounted.

This situation actually causes inconvenience in the transaction process. Banks even need to hire experienced palmists to distinguish the various types of oceans they receive; while ordinary merchants and ordinary people, if they lack experience, will often accept the bad ones. Insufficient oceans will cause economic losses to themselves.

Li Junhao actually wanted to take advantage of this currency reform to solve the problem of Dayang, but it was extremely difficult and he had to do it slowly. This matter was more troublesome than canceling the circulation of legal currency.
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There is another special situation. Li Junhao specifically told the Financial Supervisory Commission that they must pay attention to a phenomenon, that is, during the exchange period of this month, there will definitely be forces outside the concession sending people or hiring residents to use a large number of money in the bank. currency in exchange for U.S. dollars in order to make huge profits.When he raised this possibility, everyone at the Financial Supervisory Commission and the bank had a headache. It is conceivable that this situation will definitely happen, because the legal currency continues to depreciate, although after more than ten days, the legal currency will no longer circulate in the concession. , but it is still used outside the concession!As long as you can exchange a large amount of U.S. dollars in your hands and wait for the appreciation, profits are absolutely inevitable.But in this case, the bank can't refuse?
Li Junhao came up with three countermeasures:

First, throughout the legal currency exchange period in May, all roads in the concession have stepped up inspections and strictly restricted the entry of non-concession residents, focusing on checking their belongings and registering their purpose and itinerary for entering the concession. , denying them entry into the concession.

In the past half year, the Concession Police Station has slowly established a relatively complete citizen household registration system. More than [-]% of the residents have replaced their new ID cards, which are made of plastic materials specially provided by Li Junhao. In this era, no one can fake a photo of himself.

Second, at each bank exchange point, we first clearly refuse to allow non-concession residents to exchange, and secondly, arrange for staff from the Taxation Department of the Ministry of Industry and Commerce and the Economic Investigation Section of the Anti-Smuggling Division of the Police Station to record and record the concession residents or merchants who come to exchange large amounts of legal currency. Pending verification of their previous tax payment records.

This method impressed everyone. In this way, on the one hand, it can scare off most of the brokers who are hired, otherwise they will need to explain the source of the large amounts of legal currency in their hands; on the other hand, there will definitely be some people who are not afraid of this method and insist on exchanging , then really go check it out. These days, there probably aren’t any businesses that haven’t evaded or evaded taxes!
Third, for those who come to the bank for exchange, the ratio of US dollars to US dollar coupons is 1:3.These U.S. dollar coupons cannot be used outside the concession in the short term, and outsiders cannot use them in the concession.

In addition, Li Junhao also warned everyone with a smile, saying: "Everyone, these methods combined, although they cannot guarantee 100% prevention of malicious exchange activities, they can prevent more than [-]% of them; but there is one thing to pay attention to, and that is to handle this matter People cannot be selfish!"

Having said this, he looked around at everyone and continued: "Don't blame me for not explaining it in advance. If you find that someone is doing the exchange privately without going through normal channels during the exchange process, don't blame the police station and the criminal court for investigating and dealing with it impartially! "

"Don't dare! Don't dare..." After hearing this, everyone immediately shouted.

Many people have begun to tremble in their hearts. They did agree to the request of some relatives and friends before and wanted to go through the back door, either in advance or to take the opportunity to illegally exchange some foreign currency. How dare they do it now!
(End of this chapter)