Faced with Wang Zhixin's advice, Chongzhen felt a little amused and laughed, and he couldn't help but sigh that the ancients were really scarce about financial management.

Wang Zhixin was one of the most outstanding financial management experts in the late Ming Dynasty, otherwise he would not have become the title of eunuch number one richest man in the Chongzhen Dynasty.

It was precisely because of Wang Zhi's outstanding psychological and financial ability that Chongzhen handed over all the business in the inner court to him, but now it seems that Chongzhen can't help but wonder if he was entrusted with someone.

However, Chongzhen still explained patiently: "Did you forget that in addition to attracting deposits, banks can also mint and issue coins?

When depositors deposit one tael of silver, we cast the silver into a silver coin, and the weight of a silver coin is only about 70% of that of a tael of silver.

Even if the cost of minting is deducted, the bank still has more than 20% of the profit, and the interest paid by the bank to depositors is just a drop in the bucket compared to the benefits earned by minting coins.

As for the interest rate paid by the bank to depositors, it depends on whether the depositor chooses current deposits or fixed deposits. If it is current, the interest rate will be lower. If it is fixed, the interest rate will be higher."

After hearing Chongzhen's unheard of strange and strange theory, Wang Zhixin's three views were seriously impacted and he couldn't help but ask: "Your Majesty, what is a current deposit? What is a fixed deposit?"

Chongzhen said: "Current deposits are the depositors who store the money in the bank. After completing the savings procedures, they can withdraw the money at any time.

However, due to frequent deposits and withdrawals of current deposits, complicated procedures and high service costs, the interest we pay to depositors is naturally much less.

A fixed deposit is a deposit in which the bank and depositors agree on a time limit in advance when depositing, and withdraw principal and interest after maturity, because the time for a fixed deposit is generally more than one year, and the interest paid by the bank to the fixed depositors is higher.

However, if the depositor insists that the bank withdraws the money in advance before the time certificate of deposit expires, the bank may not have to pay the depositor interest."

Wang Zhixin is also a smart person. Chongzhen explained it very casually. He understood it as soon as he heard it, but the interest rate was not something he could decide. Wang Zhixin asked: "Your Majesty, how much is the interest on current deposits? How much is the interest on fixed deposits?"

Zhu Youjian thought for a while and said: "The annual interest rate for current is one thousandth of interest, and the fixed annual interest rate is one hundredth of interest. The longer the deposit time, the higher the interest rate.

For example, if the depositor deposits 10,000 taels of silver in the bank, the time is one year. Then, after a year, the principal and interest of the current depositor can withdraw 11,000 taels; the depositor can withdraw 11,000 taels in regular terms."

Wang Zhixin understood, but he said curiously: "Your Majesty, the villain understands that the longer the depositor deposits in the bank, the higher the interest will be paid to the depositor.

But in this way, if depositors never withdraw the silver, the more interest will accumulate, and if they go to withdraw it in the years or even decades later, isn’t our bank losing money?”

Zhu Youjian said disdainfully: "In addition to the function of attracting deposits, banks can also borrow from private lenders. You can understand how high the profits of private usury are. If I don't say it, you will understand.

Of course, if I open a bank, I will not suck the borrowers like usury, but will set the loan interest at a low level. Well, the annual interest will be set within 15%."

Wang Zhixin said with concern: "What should I do if the people who can borrow money cannot repay the loan after the deadline? Or if the people who borrow money have gone bankrupt and cannot pay the principal and interest?"

Zhu Youjian said: "Haha, have you forgotten who I am? There are still deadbeats in the world who owe me money to me? As for the people who borrow money to go bankrupt and have no financial ability to repay, they can be solved by raising the threshold for bank loans.

When people borrow from banks, they must provide financial guarantees to banks, such as houses, fields, shops, etc. and real estate mortgages that exceed the principal value of the loan can only apply for a loan.

In this way, once the borrower goes bankrupt and loses the ability to repay, the bank can forcibly confiscate the real estate mortgaged by the borrower according to the loan agreement."

Wang Zhixin was not so optimistic and said worriedly: "Your Majesty, the people who borrowed loans are easy to grasp, but if the royal family of the vassal kings did not repay the loan, what can the bank do to take them?"

Chongzhen sneered: "They dare?! If they really dare to owe bank loans and don't pay them back, hehe, that's the best. I was thinking about finding some reason to reduce the vassal states. Isn't this a good reason!"

Wang Zhixin then said: "Your Majesty's idea is already perfect. It's just that the bank is a new thing. Compared with the old-fashioned money house, it has no credibility. How can the people save money to the bank with confidence or borrow money from the bank?"

Chongzhen said: "That's not simple. My treasury has 23.5 million taels of silver. I take the lead in depositing all the silver into the bank. With such a huge capital, how can't the people come to handle business?"

Hearing Chongzhen's words, Wang Zhixin was now confident and flattered: "The villain understands everything. Your Majesty clearly sees Wanli, which is beyond the reach of others. The villain is willing to recommend himself and manage bank affairs for Your Majesty."

Chongzhen nodded and said, "I racked my brains and talked to you so much. I originally intended to let you be responsible for bank affairs. Now that you understand, then go and prepare. I hope the bank can get started as soon as possible."

When Wang Zhixin heard this, he suppressed the great joy in his heart and said in a deep voice: "Please rest assured, your majesty, the villain will live up to your majesty's expectations and do the errands assigned by your majesty properly."

...

After Wang Zhixin left, Feng Quan, the envoy of Tongzheng and president of the Ming Xun newspaper, entered the palace to ask for a meeting with Chongzhen, and Chongzhen met Feng Quan in the Qianqing Palace.

As soon as he finished seeing the great gift, Feng Quan hurriedly took out a newspaper that was still emitting the faint fragrance of ink and said excitedly: "Your Majesty, under the wise leadership and kind care of Your Majesty, after the hard work of more than 100 colleagues from the Daming Xun Newspaper day and night, the first Daming Xun Newspaper was finally published. Please ask Your Majesty to take a look."

Upon hearing this, Chongzhen took the newspaper and browsed it carefully. He felt that this newspaper had at least reached the level of newspapers in the Republic of China era, and he felt quite satisfied.

But when I saw that the position of the front page headline was blank, I couldn't help but frown and said, "What are you doing? How did you neglect the position of the front page headline?"

Feng Quan hurriedly said: "Your Majesty, the "Da Ming Xunbao" is a product that was founded just now under the care of Your Majesty. The position of this front page headline is naturally kept for Your Majesty to write it in person."

It turned out that this was deliberately left out by Feng Quan to flatter Chongzhen. Next, Feng Quan personally polished the ink for Chongzhen and asked Chongzhen to write the first issue of the "Da Ming Xunbao".

Seeing this, Chongzhen was so amused that he had to take the paper and pen handed over by Feng Quan. However, for a moment, he, with a low level of education, could not imagine what to write about the first issue of the "Da Ming Xunbao" and could not start writing for a long time.
Chapter completed!