Chapter 239 Malicious Deposit
The official investment of several hundred million taels of silver brought unprecedented prosperity to the market.

The circulation of goods has led to the prosperity of industries such as vehicle and ship manufacturing, transportation, and hotels and restaurants, as well as the manufacture of various agricultural tools and breeding of poultry and livestock.

The whole Sichuan was in a thriving scene, and the government's commercial tax revenue increased significantly.

This made many people confused. Why could Chen Gu, who only lent out the silver and not only did not lose anything but also earned interest, still collect so much more tax money?
And it seemed that no one suffered any losses. The people borrowed money and bought many things, whether it was seeds, farm tools, or poultry and livestock. If nothing unexpected happened, they would make a lot of money this year.

Merchants from all walks of life will have nothing to lose, they will only earn more, no matter if they are small vendors, shop owners of hotels and restaurants, or businessmen of all sizes, they can be said to have made a fortune this time.

It is totally illogical to measure it with the previous idea that there is a fixed amount of wealth in the world. Wealth cannot be created out of thin air. Besides, Chen Gu is not a business genius.

It can even be said that apart from being good at fighting and being ruthless, Chen Gu is just an average person in other aspects. The mortgage is only for the good of the people. Chen Gu has always been very good to ordinary people.

So, how did the money that everyone is making now come from?
This left some people who were secretly keeping an eye on the Huaxia Department completely baffled.

Wealth naturally cannot be created out of thin air, but it can be created, and wealth can also be overdrawn, that is, taking money from the future and spending it now.

This is where borrowing comes into play.

Of course, debts must be repaid eventually. If you spend too much of your future money, you will inevitably live a hard life for a period of time.

Money has long been overdrawn and spent by everyone, so naturally there is no money left. If you want money, you still need to create wealth again.

Chen Gu didn't know anything about finance. He just wanted the people to recover as soon as possible and increase their foundation to fight against various unknown risks, so he took out all the silver and lent it to everyone.

In order to prevent people from cheating, Chen Gu's loans were limited, and one had to have an identity certificate issued by China and be led by a local official to ensure that the loan could be recovered in the future, or that the borrower could be held accountable.

Anyone who dares to deliberately refuse to pay back the money will be sent to a mine for labor reform until the debt is paid off.

After a month of crazy lending, money houses across the country have welcomed a wave of deposits.

This gave Zhang Haomin a headache, even more so than the previous time when he didn't have enough money to lend out, because he could make money by lending out the money, but would lose money by depositing the money.

Zhang Haomin ran to Chen Ju and complained that those who deposited money were doing so maliciously and deliberately taking advantage of the government.

Chen Gu was speechless when he heard the words "saving money maliciously", and for a moment he didn't know how to refute. After thinking for a while, he said helplessly: "Then find a way to lend the money out!"

"But now no one is willing to borrow money. People are saving money all the time, especially some big families and wealthy businessmen, who actually save tens of millions of taels of silver. In just half a month, after summing up and calculating, the deposited silver actually exceeded 1 billion taels.

Even if the annual interest rate is only 3%, we still need to pay them 30 million taels of silver in interest that year. 30 million taels! Our annual land tax is not even that much. Isn’t this malicious saving of money? "Zhang Haomin said angrily. "How could so much silver be deposited?" Chen Gu asked in surprise.

"I don't know!" Zhang Haomin sighed and said, "Maybe everyone is optimistic about our Huaxia Department!"

Chen Gui felt a bit of a headache after hearing this. It was indeed a problem that there were too many people depositing money. After all, they had to pay interest. After thinking for a while, he said, "Think of a way. There will always be people who need money.

For example, some vendors want to expand their business, some big businessmen have difficulty in cash flow, and some farmers want to raise more chickens and ducks. They will let the people from various money houses make a careful assessment and lend them money again if they are considered reliable.

In addition, the rules for deposits and loans need to be improved, especially deposits, which are divided into two types. Only fixed deposits have an annual interest rate of 3%. If you withdraw the money in advance, not only will you not get any interest, but you will also have to pay a penalty of 1%.

You need to make an appointment in advance to withdraw money from other places, and you also need to pay a 1% fee to avoid a run on the bank. Once we lend the money out, they want to withdraw it again. If we can't give them the money, then they will say that my Huaxia Department doesn't keep its word."

"Okay!" Zhang Haomin nodded. At the moment, the only way was to find a way to lend the money out. The interest was 30 million. If he didn't lend the money out, the government would probably go bankrupt.

The term "malicious deposit" is naturally a joke in later generations. After all, in order to attract deposits, bank employees have to treat people to meals and beg for favors from everyone.

But nothing is absolute. At certain times, early repayment and excessive savings can indeed be a burden.

As to whether there are people who would make malicious deposits in this era, it is still uncertain.

Chen Gu thought about it and called Lao Nian over. "Send someone to contact the Ministry of Finance. I need to know the detailed information of those large depositors!"

Chen Gu really wanted to see if someone made a malicious deposit, or to see who was so rich.

Having more money in the country is naturally a good thing, and it will be easier to collect taxes in the future.

The Chinese Ministry has a lot of taxes and fees, and the tax rates are progressive, which means that the richer you are, the more taxes you will be charged.

Ten days later, the preliminary investigation results came out. What surprised Chen Gui was that there were indeed people who made malicious deposits.

"Tell me, how did you come to the conclusion that someone made malicious deposits!" Chen Gu looked at Lao Nian in surprise and asked.

Is there really someone who is willing to risk his own money just for 3% interest?
"The families with the largest deposits are the Han family and the top ten clans in Jiangjin County. This is nothing, after all, they are the pillars of my Huaxia department and support the headquarters. It is normal for them to put their money in our bank, and they can also earn some interest, which is better than hiding the money." Lao Nian said.

(End of this chapter)