Chapter 48 Central Bank PK Bank of China

The central bank is the strategic commanding height of a country's financial high frontier. Whoever controls the central bank can control the economic lifeline and political and military vitals of the entire country. Chiang Kai-shek is very clear about this.At the beginning of the establishment of the Nanjing government, the establishment of the central bank became a major decision of the "party state". In November 1928, the central bank of the Nanjing government was formally established. Chiang Kai-shek arranged Song Ziwen as the first president of the central bank, and took full control of the money bag for him.However, at this time, Chiang Kai-shek and the Kuomintang had just entered the Ninghu area, Wuhan on the upper reaches of the Yangtze River had not yet been fully controlled, and the northern warlords had not yet fully surrendered. The government's financial resources were very limited, and its expenditure far exceeded its income.The newly established central bank was so poor that it couldn't even afford the capital, and the capital of 20 million yuan was filled with government bonds.

In fact, Chiang Kai-shek's original design for the central bank was to directly reorganize the Bank of China, so that the credit and resources accumulated by the Bank of China over the years could be used for his own use. However, the Bank of China does not accept this at all. The "big treasurer" of the Bank of China at this time was Zhang Jiahong, who had dealt with Chiang Kai-shek, Song Ziwen and Zhang Jiahong as early as during the Northern Expedition.During the Northern Expedition, Song Ziwen raised funds from the Bank of China in Hong Kong. He first borrowed 500,000 yuan for the Northern Expedition, and ordered the Northern Expedition to send out troops: "Our army has arrived in various places, and we should continue to maintain the Bank of China." Song Ziwen told Chiang Kai-shek that the real power of the Bank of China The character was Zhang Jia H, and Chiang Kai-shek reached out to Zhang Jia H "for help" through his brother Huang Yu.

Huang Yu was an important figure for Chiang Kai-shek to communicate with the chaebols and gang leaders in Jiangsu and Zhejiang.When Zhang Jiahong saw Huang Yu, of course he already knew the reason for his visit. Although it was calculated that the Beiyang government might not be the opponent of the Northern Expeditionary Army, for the sake of caution, he still dealt with Huang Yu and sent him back first.Then he secretly sent people to Guangzhou to investigate the situation, and he himself took command in Shanghai. After he judged that the Northern Expedition would definitely win, he would give "economic support."

Later, the people sent out reported that "the Northern Expeditionary Army has successfully reached Jiangxi, and Chiang Kai-shek has entered Nanchang at this time."Zhang Jiahong believed that the time had come to make a move, and decided to bet the "treasure" on Chiang Kai-shek, and sent precious "aid" through Huang Yu. In 1927, Zhang Jia H secretly ordered the manager of the Hankou branch: "After Jiang arrives in Wuhan, he can borrow 1 million yuan." When Chiang Kai-shek arrived in Shanghai, his fundraising efforts increased step by step, and he finally proposed to borrow 10 million yuan.Zhang Jiahong was not mentally prepared for such a big deal, and immediately refused the advance, but he also realized that what Chiang Kai-shek was going to do was a "big thing."Zhang Jiahong did not want to pay huge sums of money in advance. Chiang Kai-shek and Song Ziwen invited him to Nanjing several times to discuss the matter.

At this time, Chiang Kai-shek was furious, and started the old man of the Bank of China, "Zha Bank of China used to borrow five million from Wu Peifu and several million from Zhang Zongchang. Now when our army's salary is in urgent need, it is so difficult to do so. It is out of the question." Threatened in the telegram: "Wen Guixing used large sums of money to help the warlords last year and resisted the army. So far, there are still plots to help the rebellion. Mr. Jiuwen has always been righteous, so he should not let your bank help the evil and abuse again." Chiang Kai-shek stood up. Strict orders were issued: 1. Bank of China pre-purchased 10 million treasury bills; 2. If not fulfilled, the person in charge of the Bank of China will be wanted; 3. If it is still invalid, the Bank of China will be confiscated and replaced by the central bank.

For this reason, Chen Guangfu, another tycoon in Shanghai's financial circles, came to persuade Chiang Kai-shek: "The government has to raise money to help pay, but on the other hand, it must not ignore the overall financial circulation in the market. If it is too hasty, once there is a problem in the financial sector, it will inevitably be exhausted." The door is full of dangers and has a great impact on the future of the military." It means: Dude, you can't afford to mess with the Bank of China now!Or take your time! What is the origin of the Bank of China, so that it does not take the government seriously?

The predecessor of the Bank of China was the Bank of Great Qing, the central bank of the Qing Empire founded by Sheng Xuanhuai. Sheng Xuanhuai himself was a typical pro-Japanese faction, and he had "deeply handed in" with Japan in business such as Han Yeping.Due to its historical origins, it has always been controlled by the Beiyang faction, and the previous presidents were all pro-Japanese figures.The "big treasurer" of the Bank of China, Zhang Jia H, graduated from Keio University in Japan. He is passionate about Japanese culture and superstitious about Japanese power. He even wears kimonos and speaks fluent Japanese. He is completely oriental.Later, Song Ziwen resigned as the president of the central bank, founded China Construction Bank Corporation, and tried to attract British and American consortiums into the group, but was strongly opposed by Japan. The Bank of China has always taken a boycott attitude towards Song Ziwen's China Construction Bank Corporation, which shows the influence of Japanese forces on Bank of China .In addition to the Japanese backstage, the majority shareholder of the Bank of China is backed by HSBC, and the British Empire behind it should not be underestimated. Britain and Japan were once an important anti-Russian alliance.

When Sheng Xuanhuai was preparing to establish the Household Bank, Xi Zhengfu, the head of the Dongting Mountain Gang, "in-depth guidance" Sheng Xuanhuai's Household Bank by virtue of the rich experience accumulated by Xi's family monopolizing foreign comprador positions in 15 foreign banks.Sheng Xuanhuai and the Xi family have been friends for decades, and they once teamed up to kill Hu Xueyan.The Headquarters of the Bank of the Ministry of Accounting is located in Beijing. Its equity account department subscribes half of the shares, and the other half is privately invested. It is a bank jointly established by the government and businessmen.Xi Zhengfu's four sons successively invested in it. The eldest son, Xi Ligong, successively opened several stock accounts in the bank. After the Shanghai Branch of the Household Bank was established, Xi Zhengfu's third son, Xi Yuguang, served as the bank's deputy manager. 【2】Later, the Household Bank was renamed the Bank of Great Qing. Xi Yuguang served as the Shanghai assistant manager of the Bank of Great Qing, Xi Yukun, the second son of Xi Zhengfu, was the manager of the Yingkou branch, Xi Yukui, the sixth son of Xi Zhengfu, was the manager of the Hankou branch, and later served as the deputy comprador of HSBC Bank for 10 years.

After the Revolution of 1911, the Bank of Great Qing was reorganized into the Bank of China.At this time, the Xi family became one of the "owners" behind the Bank of China, and the "owner" behind the Xi family was HSBC.In addition to the British capital system, the relationship between the Xi family and the Bank of Japan is also extraordinary. Xi Yukui, the sixth son of Xi Zhengfu, became the comprador of Sumitomo Bank, the third largest chaebol in Japan in 1916. He reigned for 15 years. Zhengjin Bank has been a comprador for 21 years. The Xi family not only monopolized the comprador position of HSBC for three generations, but also used his influence to arrange other children of the Xi family into the foreign banking system one after another.Whether it is the British-based Macquarie, Lili, Defeng Bank, or the French-based Orient-Ariy, Sino-French Industrial and Commercial Bank, the German-based Deutsche Bank, the Russian-based Russian-Chinese Daosheng Bank, and the Belgian-based Belgian Bank , American-based Citigroup, American Express, and CIJ Bank, and Japanese-based Yokohama Specie Bank, Sumitomo Bank, etc., are all dominated by the Xi family.According to incomplete statistics, during the 75 years from 1874 to 1949, more than 20 foreign-funded banks were successively established in Shanghai, and Xi's took the comprador seats in 15 of them.In addition, the Xi family is also an important shareholder of other chaebol banks in Jiangsu and Zhejiang, and the banks in Shanghai also follow the lead of the Xi family.

Xi's deep roots and great influence in China's banking system are unique in modern Chinese history.It is no exaggeration to say that the Xi family is the main pillar of the chaebol system in Jiangsu and Zhejiang, and behind the Xi family is the powerful force of international bankers. The Xi family is not only the "owner" in the Chinese banking system, but also directly controls important business departments of the Bank of China, especially the foreign exchange transaction department. In the late Qing Dynasty and the era of the Beiyang government, the Bank of China has always been equivalent to the central bank, and it is a complete and independent national capital bank.How could it be possible for China to become an independent central bank in an era when major powers such as Britain and Japan have already tightly controlled China's financial high frontier?

Chiang Kai-shek wants to use the brains of the Bank of China, isn't that just a daydream?Chiang Kai-shek had neither the strength nor the guts to challenge the big powers. After all, beating a dog depends on the owner.In the end, Chiang Kai-shek had no choice but to give up his original idea of ​​reorganizing the Bank of China and set up a central bank himself. Under Chen Guangfu's advice, Chiang Kai-shek understood his situation, and he had to ask the Bank of China. During this period, Zhang Jiahong's mother died just in time.You know, before this, Chiang Kai-shek and Zhang Jia H had never met, but Chiang Kai-shek had stayed in the Shanghai financial circle, plus he was originally from Jiangsu and Zhejiang, and he had some contacts with various contacts of the Jiangsu and Zhejiang chaebols, so Chiang Kai-shek Decided to pay my condolences in person. On the day of condolence, Chiang Kai-shek suddenly came to Zhang's mother's mourning hall, entered the door without saying a word, and bowed his head.This move moved Zhang Jiahong very much. He did not expect Chiang Kai-shek to be so particular about "friendship in eastern Zhejiang".But he didn't know that for Chiang Kai-shek who had been in the "wharf", this set was not difficult at all. At this time, Chiang Kai-shek's "waist" was not strong enough, and raising money to win people over was just a standard action of "entering the door and worshiping the wharf" That's all. At that time, Chiang Kai-shek's Nanjing National Government was not on a firm footing and needed to be recognized by the big powers, and Zhang Jia H could only be turned to for help in this matter.Zhang frequently met with the Japanese, British, and American consuls in Shanghai, and served as a bridge for the Nanjing government's diplomacy. During this period, even the foreign minister of the Nanjing Nationalist Government, Huang Yu, had diplomatic negotiations with Britain and the United States at Zhang Jia H's home! As for the "advance payment", Chiang Kai-shek finally dispatched his descendants, with Zhang Jingjiang and Chen Guangfu as mediators, saying that the government was about to issue public bonds and was indeed capable of repaying the loan.Zhang Jia H thought about it back and forth, feeling that Chiang Kai-shek was going to be big and unstoppable, and maybe he could use it. Finally, he agreed that the Bank of China would pay 10 million yuan in advance in installments, and the Jiangsu and Zhejiang chaebols would take the lead to subscribe first through the Shanghai Chamber of Commerce. 5 million yuan. Before the "April 12" Incident, the Bank of China had already provided a high amount of sponsorship for the Northern Expedition, which shows that the Bank of China has made great contributions to the Northern Expedition.At that time, the Hankou branch of the Bank of China also gave a huge sum of 16.5 million yuan to the Wuhan National Government.It is not difficult to imagine that the chaebols are not gambling all at once. You can't just put all your eggs in one basket!Bank of China also played a role in the subsequent "Ninghan Confluence". In fact, Zhang Jia H was just playing tricks at the front desk, and the person who was backed by the big tree was not a big tree himself.What Chiang Kai-shek sought was not him, but the great powers behind him.Later, the Jiangsu and Zhejiang chaebols who forced Chiang Kai-shek to step down were also behind the power of the great powers. However, just as Hitler borrowed the power of international bankers when he came to power, and once in power, he began to seize the power of the German Central Bank under the control of international bankers step by step. Chiang Kai-shek established the Central Bank from November 1928 until 1935. , It took more than six years to seize control of the Bank of China and formally establish the authority of the central bank of the Nanjing government.Since 1933, it took Hitler six full years to finally seize the power of the central bank.