When the emperor finally finished his talk and drank from his teacup, Bi Ziyan bowed and said, "Your Majesty, I feel that I am not qualified to be the president of the Imperial Bank."

Huh? Zhu Youxiao was stunned for a moment, put down his teacup, and looked at Bi Ziyan.

Bi Ziyan looked ashamed, but said with a stiff upper lip, "I never thought the Imperial Bank was so important, and its operations were so sophisticated..."

Zhu Youxiao blinked his eyes and understood. This was not a retreat, but a loss of confidence caused by his own words.

After pondering for a moment, Zhu Youxiao smiled to himself. He was so happy that he talked a lot.

"Bi Qing, there's no need to be ashamed." Zhu Youxiao waved his hand and said, "These banking operations are already quite mature in the West. I learned them through reading books, and they won't all be applicable to the Ming Dynasty. Moreover, we should start with the easy and then move on to the difficult. The Imperial Bank will still focus on simple business for the next few years."

Zhu Youxiao was not speaking nonsense. The financial industry in the West was indeed quite developed at that time.

Banks and bankers are often the pillars of a nation. For example, the Dutch War of Independence was supported by the Dutch banking group. The country established after the Netherlands' independence was also a commercial republic, a country where capitalists had the final say.

Going back further, Caesar fought wars with debts. Through the Gallic War, he not only paid off his debts but also made a fortune.

There are also numerous examples of borrowing money to fight wars, such as the Crusades and the Plantagenet Dynasty. In the West, borrowing money to operate businesses is not only practiced by military figures and groups, but also by national governments.

Of course, some banks or bankers became rich because of the war, while others were dragged down by the war and disappeared in the long river of history.

If the financial industry of the Ming Dynasty was developed, Zhu Youxiao felt that Chongzhen would also be able to borrow money to fight wars.

What's the big deal about owing a lot of debts? It would be quite interesting to extend the life of the Ming Dynasty, then hang oneself on a branch in the southeast, and cheat a group of stupid creditors.

Bi Ziyan finally relaxed a little, and after listening to the emperor again, he realized that most of the information was about the management and operation methods of some plans that he had thought about.

Live and learn! It seems that Bi Ziyan should also learn and improve himself. He is only 54, not too old, and certainly not confused!

Zhu Youxiao spoke more cautiously, only talking about the development of the Imperial Bank in the past two years, and did not dare to provoke Lao Bi again.

"…Abolishing the liang (two-yuan) and establishing the yuan (yuan) is the ultimate goal, but there's no need to rush into it. The currency should stabilize for at least a year. Once the silver coin is widely accepted by the people, then we can issue a mandatory exchange order…"

"…The foreign exchange business must be expanded as quickly as possible. We should first establish branches in several major commercial ports. I estimate that each branch should have one million in capital, which should be more than enough."

"...As for the loan business, start with small amounts, capped at 100,000 yuan, with a one-year repayment limit. Suitable collateral is essential. The bank is still in its infancy and can't afford major losses..."

"With Jiangnan's business booming, Bi Qing will be stationed in Nanjing, gradually expanding branches and developing business. As for the Bank of Beijing, I will take charge of it..."

Bi Ziyan listened attentively, asking questions respectfully from time to time. When he learned that the Maritime Merchants Association and the Jiangnan Chamber of Commerce would deposit at least two million silver coins into the Nanjing branch for a period of one year, his confidence was further strengthened.

This was a first for bank deposits, but it offered no interest. Zhu Youxiao was even "generous" enough to not charge a safekeeping fee, meaning the two chambers of commerce had found the perfect safe, saving them the trouble of hiding their funds.

It sounds a bit shameless, but that's the view of later generations. In that era, negative interest rates were completely feasible.

"Go to Nanjing and find Lu Jiude. He'll assign soldiers to you and you'll be in charge of their deployment. Just call them bank security guards!"

Zhu Youxiao finally finished speaking, holding the cup in his hand, but did not drink it immediately. Instead, he looked at Bi Ziyan.

"I understand, and I will definitely satisfy Your Majesty." Bi Ziyan bowed and accepted the order.

Zhu Youxiao smiled and drank the tea with peace of mind.

This year's fiscal revenue increase wasn't the biggest contributor to the bank's revenue. After all, it was newly established, with few branches yet to be rolled out, and business needed to be gradually developed. But no one understood the bank's potential better than Zhu Youxiao.

It is no exaggeration to say that in the future, banks will undoubtedly be richer than the Ministry of Revenue. When that time comes, the country may actually have to borrow money from banks to expand and plunder abroad.

Zhu Youxiao did not have much objection to operating with debt. It was called a fiscal deficit and was also beneficial to economic development.

Besides, don’t you know the saying “the one who owes the debt is the boss”? If someone can still fight after owing a debt, he is even more of a “boss among bosses”.

Whether I can fight or not, you have to ask my wife; but I am spending money desperately to train a capable army!

"Your Majesty." Bi Ziyan bowed and said, "I believe that Tianjin should also be opened as a port."

Zhu Youxiao nodded slightly. If there were not so few officials who satisfied and trusted him, he would have hoped to have more open coastal cities.

"This is a very good idea," Zhu Youxiao said thoughtfully, "but as a military garrison, it cannot be opened as a port for the time being."

Bi Ziyan also made suggestions, but seeing that the emperor had listened to them, he said no more.

Zhu Youxiao saw that the instructions had been basically completed, so he ordered the palace servants to announce the appointment. The title of "President of the Imperial Bank" was unclear, and according to the official rank at the time, Bi Ziyan was given the title of Shangshu, acting as the bank's affairs.

Bi Ziyan accepted the imperial edict and thanked the emperor. The emperor then gave him clothes, a jade tablet, and allowed him to leave.

………………Dividing line………………

The damage caused by the Ningyuan victory to the Later Jin was not only the casualties of over 10,000, but also the change in the people's hearts in Liaodong.

If it is just an occasional defeat, it can be understood as being caused by carelessness, underestimation of the enemy and arrogance.

But since the defeat in Guangning, the Later Jin has suffered many setbacks, big and small, which cannot be explained by chance.

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