At night, Yu Wenwen, who had finished his walk, turned back to the tent, washed his face, sat beside the desk and continued to read the information. At the meeting just now, he said a lot, and had already explained what he should have, but he was still worried, so he continued to read the information.

The Qingmiao Loan launched by Rixingchang was actually Yuwen Wen’s “snatching people’s teeth” because in “historical”, there was Qingmiao Loan (Qingmiao Law) in the Northern Song Dynasty. When it comes to Qingmiao Law, it reminds people of the famous “Wang Anshi Reform”.

The Qingmiao Law originated in the middle of the Tang Dynasty. At that time, the Tang Dynasty experienced the Anshi Rebellion and the separatist rule of the vassal states. The central court lost control of the local area and could not collect taxes. Therefore, in order to open up the source, the Qingmiao Law was developed, with its main purpose being to generate income for the court (emperor).

Qingmiao Loan means lending to farmers who are about to farm but are unable to buy seeds and farm tools. Then farmers repay the loans on the harvest when harvesting. In the Northern Song Dynasty, Wang Anshi, the "supporting husband" Wang Anshi, reformed the Qingmiao Law and issued Qingmiao loans to farmers.

Wang Anshi wanted to increase government income while also curb private usury and protect and provide relief to households. He wanted to benefit the people and the starting point was good.

Yuwen Wen also saw the point of "suppressing private usury and protecting and providing relief to private households", so he wanted to implement Qingmiao Loan.

According to the "modern" financial perspective, Qingmiao Loan is a small loan for the majority of farmers. However, Wang Anshi's original intention of implementing Qingmiao Loan (Qingmiao Law) is to benefit the people, but why has it been criticized for harming the people?

It’s very simple. If a policy is not rectified before implementing a policy, no matter how good the policy is, it will be useless.

As the saying goes, the monks of crooked mouths are not serious. No matter how beautiful the original intention of a policy is, it must be implemented by bureaucrats at all levels to implement it. In the end, most of them become unrecognizable.

Wang Anshi promoted Qingmiao Loan because he implemented it under his rule when he was a local official. The effect was good and it really saved the urgent situation, so that the farmers with shortages were spared from the disaster of usury. So after Wang Anshi became the prime minister, he promoted the Qingmiao Law on a large scale regardless of resistance.

This promotion has not been satisfactory and has caused public resentment.

The problem is that it is "one size fits all". Wang Anshi forcibly promoted Qingmiao Loan (Qingmiao Law) regardless of the different situations in various places.

The new law - whether the implementation of the Qingmiao Law is smooth is one of the indicators for evaluating local officials. Therefore, for the sake of future, officials at all levels forced farmers who did not need to borrow money to borrow Qingmiao loans. The original provision was to share profits with two parts, but local officials secretly assigned them.

Because the government led the lending, various means of taking advantage of the situation came.

The interest rate of private loans is high, but the transaction is very fast. Both parties agree that the price can be completed. However, the Qingmiao loan promoted by the government is troublesome and the process is complicated. A group of clerks took the opportunity to get the money and pluck the hairs by the geese.

Farmers who are eager to farm have no time to waste time with these officials. They can only let the other party exploit, which invisibly increases the burden.

Although Qingmiao Loan is lower than ordinary private loan interest rates, it is actually not low. If a farmer borrows Qingmiao Loan, it would be fine if the harvest is good when receiving the goods, but if the harvest is bad, he will be in trouble immediately.

In the agricultural era, if there are no complete water conservancy facilities, farming depends entirely on the weather for food. It is not enough to rain too much, nor is it enough to get less. Countless farmers have suffered poor harvests due to natural disasters and have been burdened since then.

The most important thing is that not all farmers have the need to borrow money to carry out farming. In order to implement the reform, Wang Anshi refused to oppose the rules, forcibly levy, set indicators, and even stipulated that each prefecture and county must complete the specified loan quota.

In this way, local governments will openly engage in levies, one level to another. The result of levies at each level is that farmers, no matter rich or poor, must "borrow loans" according to the order.

Local governments increased their income, and clerks made a lot of money from it. Only those farmers who should have been protected by the Qingmiao Law were forced to go bankrupt by the Qingmiao Law.

Therefore, the Qingmiao Loan, which was originally intended to benefit the people's loan, became a "debt loan for the people" after its implementation. This is a lesson that Yuwen Wen should learn from.

He wanted to promote Qingmiao Loan in Henan, but did not intend to force it through administrative means because he did not believe in the integrity of local governments in various places, so he relied on the "dynamic non-governmental organization" - Rixingchang Guifang.

Yuwen Wen was confident in the integrity of the "workers" in the Rixingchang Guest House. He believed that relying on Rixingchang to issue Qingmiao loans is at least much more reliable than relying on local governments at all levels to issue loans.

Moreover, with this white glove, it is very convenient to do things. When lending, the intermediate links should be minimized as much as possible, so that the counter house can deal directly with farmers with loan needs, avoiding the other party being exploited and not adding more burdens to this.

Yuwen Wen's idea is full, but the reality is very skinny: Rixingchang has no foundation in Henan, and he will sell the stall as big as he comes, and his pressure resistance is very weak. If he is not careful, he will be unlucky, and he will be unlucky at that time.

But Yuwen Wen still wants to promote Qingmiao Loan, he wants to compete with private usury loans, and the government lends money to the public, and temporarily holds it up.

Rixingchang has launched Qingmiao Loan business in Shannan, which has good results and rich experience. Therefore, it is very operational to carry out lending business in Henan, but Yuwen Wen knows that the profit from one to two points in Qingmiao Loan is still too high.

It is already very conscientious to compare the interest horizontally in Rixingchang's Qingmiao Loan, but for the majority of farmers, the profit margin of farming (based on ordinary per mu of land yield) is not even two points.

In other words, as long as farmers in Henan borrow Qingmiao loans from Rixingchang at one to two cents of interest, most of them will definitely lose money.

However, Yuwen Wen was eager to promote Qingmiao Loan, not to take the opportunity to make money and merge land, but to truly benefit the people. Therefore, he made a "suggestion" to the major shareholders of Rixingchang, that is, the interest rate of Qingmiao Loans implemented in various parts of Henan is 2%.

This unbelievably low interest rate is enough to make any private lender lose competitiveness. The problem that comes with it is a huge profit gap, because the return rate offered by Rixingchang to "investors" is two-point and two-cent in order to absorb money and grain on a large scale in order to lend in Henan.

In addition, Rixingchang itself also wants to make profits and pay dividends to shareholders, so the actual difference is more than ten times.

Nixingchang is not a profitable maritime trade in Henan, so this profit gap is not a joke. Once it cannot be fulfilled, it will be a devastating blow to Nixingchang's credit.

Rixingchang's credit has been established in the Jingxiang area of ​​Shannan. Now, because the King of Shanxi Yang is likely to be in charge of Henan, the powerful people from all over the country are very optimistic about Rixingchang's "profit prospects" in Henan.

They are very interested in the rate of return promised by Rixingchang, and the "investment amount" continues to double, but by the end of next year, such a huge profit gap will not be filled in if it cannot be filled in with profits. Yuwen Wen can't even sell it.

The reason why he still did this and asked the major shareholders to agree to follow the "waves" together was not to force the other party to submit by "expressing his might" but to design a complex "profit business package" and make a complex profit calculation, and use the profit prospects (theory) to convince the major shareholders.

This also means that once Qingmiaodian is screwed up, not only will Rixingchang be over, but Yuwen Wen's credit will also be over.

During the time of Ji Zhou, King Nan of Zhou owed a lot of debts and could not repay them. He was forced to hide on a stage by his creditor, so he had the idiom "debt over high debt". In today's Zhou State, will the King of Xiyang be unable to repay his debts, and will he be "debt over high debt"?
Chapter completed!