1850 American Gold Tycoon

Chapter 584 The Constitution was made by humans

"As long as we control the circulation of banknotes and have enough gold and silver as reserves, I think this is feasible." Pan Zhengwei asked tentatively, "I just don't know how these banknotes are going to be issued and which banks will issue them. What is the amount of one batch of issuance?”

The amount of the first batch of currency issued and whether Tongfu Bank can participate in the issuance of these red banknotes are the issues that Pan Zhengwei is most concerned about now.

"Before you come, I have discussed with Governor Fremont and Governor Strauss. We have decided to establish a Western Reserve Committee to attract state banks from each state and private banks with qualifications and strong financial resources to become members of the committee. Jointly issue the first set of official paper currency in the west." Liang Yao said unhurriedly.

"Member banks of the Western Reserve Board will gain the authority to issue official currency and must also be supervised by the board."

"Supervision?" Upon hearing this word, Wu Yuanhua couldn't help but frown.

"Yes, supervision. If there is no supervision, if the banks below are issuing banknotes indiscriminately without authorization and without sufficient gold and silver reserves, wouldn't it damage the rights and interests of all Western Reserve Committee member banks?" Liang Yaoruo pointed out. Di said coldly.

"The Western Reserve Committee adopts the principle of voluntary membership. If you don't want to accept the supervision of the committee, you don't have to join. We don't force it."

"Is there any reason in the world to only enjoy rights and not fulfill obligations? It is reasonable for the Western Reserve Committee to supervise member banks. Otherwise, if everyone issues their own banknotes, wouldn't everything be chaotic?" Pan Zhengwei saw it more clearly. He said, "We, Tongfu Bank, are willing to join the Western Reserve Committee and accept the supervision of the Western Reserve Committee. It is just a quota for issuing banknotes. What is the allocation method? How much value do you plan to issue in the first batch of banknotes?"

"Half of the banknote issuance quota belongs to the state banks in California, Oregon, and Liangzhou. The remaining half of the banknote issuance quota is allocated based on the strength of the member banks and gold reserves. The total number of banknotes issued in the first batch is 3,000 Ten thousand US dollars." Liang Yao looked around at the Western Bank predators present.

$30 million? !

Upon hearing this amount, everyone present nodded in agreement. This amount is large enough. Even if the state banks in Canada, Russia, and Liang take away half of the quota, they private banks can still share the remaining 15 million US dollars in currency issuance quota.

"It's just these words on the currency, I'm afraid they violate the spirit of the Constitution." Robinson pointed to the legal tender on the red banknote and said, "If one person is counterfeited, the whole family will be shot." "I suggest that these words be deleted from the officially issued currency. If it is officially If these words are retained on the issued currency, I am afraid the Easterners will make a fuss about it and accuse us.”

"The Constitution was made by people." Liang Yao said disdainfully, "Those eastern guys should abide by the Constitution first and then accuse us. How can we print these sample banknotes, and how can we print the officially issued paper currency. I have finished what I have to say, I want to Join the Western Reserve Committee and stay, and those who don’t want to join can leave now.”

The elites in the east, especially the elites in the east and north, just talk about the sacred constitution and hope that others will abide by the constitution.

If the Yankees in the North really abide by the Constitution, Lincoln would not be able to come to power, and the Civil War would not break out. The North and the South should get together and disperse easily, rather than go to war directly.

These Western elites present are all human beings. They all know in their hearts that if they do not join the Western Reserve Committee and become the first people to formulate the rules of the currency game, they will sooner or later be excluded from the core circle of the Western Consortium.

Therefore, even though joining the Western Reserve Committee has to pay the price of accepting the supervision of the Western Reserve Committee, after weighing the balance, these western elites still choose to join the Western Reserve Committee.

This Sunday is a day that attracts the attention of people in the West.

On this day, a total of 687 death row prisoners, led by Huang Kangrui, who minted private coins, will be specially escorted to the Citizen Square of Jinshan City for execution.

This is the first time since California was established as a state in 1850 that so many people have been executed, and it is also the first time that key members of a large consortium have been executed. This caused great excitement throughout the West.

On the day before the execution, many people from the west who were watching the excitement had already arrived at the Civic Square early to occupy a good place so that they could enjoy the largest execution scene in California's history from a better location the next day.

Therefore, on Saturday, the Civic Square in Jinshan City, also known as San Francisco, was already overcrowded and it was difficult to find a place to stay.

On the morning of Sunday, 687 economic prisoners wearing black and white striped prison uniforms, shackled, and wearing pipa bones were driven off the train by an entire battalion of heavily armed Sacramento militia soldiers and escorted all the way to the Civic Square of Jinshan City. .

The Citizen Square in Jinshan City is already the largest city square in the entire western region. Even so, the entire square is already packed to the brim.

Soldiers from the Sacramento militia had to clear a way into the execution ground before taking the 687 economic prisoners who were strung together into the execution ground.

At noon, the shooting of these economic criminals officially began.

Soldiers from the Sacramento militia shot these economic prisoners in batches and executed them.

The executed economic criminals were dragged directly to the prepared fire in the square, poured with kerosene, and cremated on the spot.

The bodies of the very few economic prisoners who survived the executions struggled painfully in the fire after being set on fire.

The air was filled with the strong smell of blood and the smell of burnt meat, which was the smell of death.

This scene made the economic criminals who had not yet been executed by frightened to the point of incontinence. Even the few executioners of the Sacramento militia couldn't help but start vomiting.

The gunshots and cheers from the onlookers in Jinshan Citizen Square continued for a long time. All 687 death row inmates were not executed until 5 p.m.

The blood stains on Jinshan Citizen Square had not yet been washed away. The next day, the Western Reserve Committee was officially established.

On the third day, the state banks in California, Oregon, and Liangzhou issued a very fine red banknote.

At the same time, the governors and finance ministers of the three states also successively issued announcements to the outside world, declaring that the red dollar dollar was the legal tender recognized by California, Oregon, and Liangzhou.

Anyone can take these red banknotes, without any personal identification, to various state banks in California, Oregon, Liangzhou, and the member banks of the Western Reserve Board: Bank of America, Bank of Georgia, Tongfu Bank, Jardine Matheson Bank, the Bank of Boston, exchanged it for equal amounts of U.S. dollars in coinage and gold and silver. If the bank refuses to honor the payment, it will be compensated ten times the amount of the dishonor.