Wei Guogong Xu Pengju has been a little worried recently. On the one hand, he is directly competing with Xu Jie in collecting merchant protection fees. On the other hand, the two governments of the Xu family joined forces with other nobles to establish the Jinling Bank in Nanjing, imitating the West Lake Bank in Hangzhou.
Banks are still very different from traditional banks and bank accounts. Banks also charge interest for local lending, while bank accounts charge foreign exchange deposits and withdrawals. In addition, bank accounts mainly focus on official funds, while banks mainly focus on commercial loans. Banks, on the one hand, combine the strengths of both functions; on the other hand, the main difference is that banks do not pursue usury, nor do they pursue hard-earned money from cash transactions.
From the perspective of initial investment, the initial investment of Jinling Bank in Nanjing was 300,000 taels of silver, which was not much worse than West Lake Bank. And there are two princes supporting the scene, so they should be very trustworthy no matter what.
Xu Pengju, Duke of Wei, even sent the old housekeeper of the Duke's Palace to be the chief shopkeeper. It can be seen that at the beginning, Duke Wei wanted to take the initiative to endorse the Duke's Palace.
This matter seemed very simple at first. The key to making West Lake Bank in Hangzhou profitable is not its debt collection ability guaranteed by the Weaving Bureau's stake in the potential Dongfang factory. Jinling Bank directly gave 20% of the profit to King Yu, and with the support of the two countries, they would not be unable to receive the money.
As a result, almost all merchants who work for Nanjing Xungui can go to Jinling Bank for mortgage loans. Of course, public merchants from the two countries will naturally have higher quotas.
Especially in the first five months, because I knew that the imperial court would send troops to Japan to occupy the Iwami Silver Mine. All merchants related to the concept of Iwami Silver Mine have received priority in lending.
But now the imperial court has made a 180-degree U-turn, which has confused the entire people of Nanjing.
In five months, many people have almost spent their loans. Many weaving merchants borrowed money to expand production capacity, waiting for the Japanese soldiers to come back and spend a lot of money after being rewarded for their meritorious service.
There are also people who have built a 300-acre Nanjing New City outside Nanjing City, following the example of Hangzhou New City, and are just waiting for these officers to come back and buy houses and land.
Even so, there is no need for Wei Guogong, the leader, to be so panicked. The key is that as soon as the big housekeeper heard about the policy change, he immediately went to all the merchants to draw out loans and ask for early repayment.
This time, a few people who acted quickly managed to repay, but most of the merchants went bankrupt and immediately dragged their families and body to escape the debt.
Now we go to Hangzhou, Taiwan, Haojingao, Annan, even Luzon, Australia, and even the West. Where can I go?
With such an incident, it is conceivable that this bank is basically finished.
In order to prevent an immediate collapse, Wei Guogong has used the protection money from his own merchant collars several times to fill the holes in Jinling Bank.
The reason why Duke Wei Guogong was so fiercely protective of Jinling Bank was not due to any emotion or belief. It simply had to be protected.
Although the capital of three hundred thousand taels is not too much, Jinling Bank’s main target for attracting deposits is also the Nanjing Xungui family. Stopping the Japanese conquestBefore the news came, he had already accumulated two million taels of silver. If this fails, the only real option is to sell all the properties of Duke Wei to pay off the debt.
Repaying the debt was not a small problem, but the originally harmonious Nanzhili Honor Circle immediately made the Duke of Wei a target of public criticism.
At this time, Xu Pengju, the Duke of Wei, naturally spared no effort to expand the business of selling merchant collars. Naturally, he was in direct conflict with Xu Ge's hometown in Huating, which was also developing this business.
Moreover, although the conquest of Japan was not the cabinet's idea at the beginning, it was a matter that Jiajing asked His Highness to decide on his own, but it could be stopped so quickly without the cabinet adding fuel to the flames. Xu Pengju did not believe it. Most civil servants have always been anti-war, just like a coward. Completely forgetting that Xu Pengju was actually opposed to conquering Japan in his heart before. His own family knew his own affairs, so Xu Pengju was not optimistic about the combat effectiveness of the soldiers in South Zhili.
But now, Xu Pengju can’t remember any of this. I just feel that Mr. Xu Ge is really more and more annoying the more I look at him. Not immediately going up and poking hundreds of transparent holes into the big shopkeeper of Xu Ge's hometown in Nanjing City was already a lesson learned by the Wei Guogong family for hundreds of years. Please remember to collect it, the latest and fastest website is free to read without anti-theft