Chapter 137: Getting Rich? Starting with Misappropriation**
Chapter 135: Getting Rich? Starting from Misappropriation
Franz is a sense of national responsibility, in order to raise funds for the Kingdom of Prussia for the war, he, the emperor have taken the lead in donating one million guilders, deposited in the Royal Bank of Austria.
(1 guilder ≈ 11.69 grams of silver)
Soon the Austrian nobles, merchants, students …… all scrambled to donate, but these funds were not directly to the Prussian government, but deposited in the Royal Bank of Austria.
That’s right, this Austrian Royal Bank was just created by Franz, and its main business was to collect the donations from the public, and at the same time to supervise the use of this money in the defense of the duchy of Schleswig-Holstein.
Now that the Prussian army was overrunning the Jutland Peninsula, it had exceeded this boundary and did not fulfill the conditions for activating this donation.
What the Prussians think Franz does not care, anyway, he is now very happy, the registered capital of only one million guilders of the Royal Bank, in just one month to absorb nearly thirty million guilders of deposits, not right is the donation.
Only the bank issued receipts to the donors, all donations are used proportionally, if not used up later is to be returned.
In order to demonstrate his patriotic integrity, the Royal Bank does not even charge the most basic handling fees, completely free service.
Since it is a donation, interest naturally does not exist. Before this huge sum of money was activated, Franz had another liquidity in his hands.
A large amount of cash in the hand does not move, that is a crime, so Franz turned to give himself a loan, used to invest in the construction of a comprehensive food business, by the way, but also to buy a large number of good quality mines.
This year, gold and silver can be used directly as currency, gold and silver mines are naturally very valuable, even if Franz is the emperor is not so easy to get.
In contrast, iron, coal, lead, zinc, manganese, rare earths and other minerals to be much cheaper, the industrial revolution is still in progress, even the most basic consumption of coal and iron are very limited, a lot of rare minerals, now the industry simply can not use.
Franz is also too lazy to go to the tiger’s mouth, while these resources are not valuable now, in advance of the future valuable minerals in the bag.
Unfortunately, the Austrian Empire does not have giant mines, otherwise this wave could be eaten for a lifetime.
In short, now have money in hand to buy around, others invest in mining first have to consider the transportation problem.
Franz does not think so much, as long as the quality of minerals is good enough, the reserves are rich enough on the line, the problem of transportation to worry about it?
Others do not know, he can not know it? The Austrian government will not be long, we must vigorously invest in domestic infrastructure.
Now there seems to be no development value of the mines, by the time the road is repaired, it will immediately be doubled in value, coupled with the advancement of industrialization, the demand for mineral resources increased, want to not get rich are difficult.
In just over a month’s time, spent more than five million eight hundred thousand guilders, scared Franz hurried to stop. Even if it’s embezzlement, there has to be a limit ah?
If a brain to spend all this huge amount of money, was found out, how to end up behind?
Habsburg family has assets, but not so much cash, even if Franz is the emperor is also difficult to borrow so much cash in a short period of time.
Just misappropriation of a part of the words, Franz still have a way to level the accounts, after all, is to open the bank. If not for the lack of manpower now, the Royal Bank has already begun to attack the city.
The bank with thirty million huge sums of money is a giant in this day and age, and is definitely the number one bank in Austria when it comes to cash flow, and is also a top-ranking existence in the world.
At present, the Royal Bank of Austria, a total of more than thirty stores, the scale of view can only be regarded as a small and medium-sized bank, business outlets are all concentrated in several major cities in Austria.
John Stewart was originally the first Austrian savings bank executives, was valued by Raul to dig over, as the Royal Bank of the first industry.
Until this time, Franz realized that the Habsburg family has shares in many banks, how to come he did not bother.
Anyway, behind any bank is a supporter, otherwise this era, even earlier, want to survive is not so easy.
“Your Majesty, the Royal Bank is ready to be put in place to take in external deposits.” John Steva said somewhat nervously
“You’re the professional when it comes to banking, this is an issue that you management will discuss and decide on your own. For a short period of time, the Royal Bank is not going to carry out external lending business.” Franz said with an expressionless face
After misappropriating such a large sum of money, but you have to return it. God knows how long the Prussians can hold out, once the Prussian government makes a compromise, all this money is to be returned.
“Yes, Your Majesty.” John Steva replied
“Do you estimate how much of these donations can be converted to our depositors? How much money will be left on deposit?” Franz asked with concern
“Your Majesty, our bank interest rates are set with reference to the average, but the Royal Bank is far ahead of any competitor in terms of reputation.
About twenty percent or so of the donors will be our subscribers, as government donations alone account for a third of these donations, and the final funds left behind will probably be around three million guilders.” John Steva thought for a moment and said
Don’t think that three million guilders is less, in this day and age people don’t have the habit of depositing money in the bank, most of the nobles are used to piling up their gold coins in the basement.
There is also a threshold for opening a bank account, for example, the threshold set by the Royal Bank is one hundred and fifty guilders. Below that, sorry, this is not the place for you.
The total savings of the entire Austrian Empire in 1848 was less than one hundred million guilders, and being able to leave three million guilders took up more than three percent of Austria’s total savings.
Franz also had thought about lowering this account opening condition limit, but considering that it would require a large number of counter staff, as well as increase the difficulty of management and operating costs, he decisively gave up.
Banks also have a forced, this era in and out of the bank are the upper middle class, once the restrictions are opened, a large number of people at the bottom of the influx of these quality customers if they run away, it is too late to cry.
The Austrian people are too poor to be able to save more than ten guilders a year, and that would be a good income. Against this background, the possibility of losing money by venturing into this business is too high.
“Got it, when you go back, you’ll start the storage business as soon as possible. All the salesmen must be strictly trained, and all of them, are required to receive every customer politely.” Franz instructed
“Yes, Your Majesty.” John Steva replied
The attitude of the bank’s service staff during this period was actually not bad, because of the limitation of the account opening amount, those who were able to handle deposit business at the bank were basically middle class, or higher level existences.
On the social level, the bank staff did not have the superiority of being high up, and naturally, there was no more so-called discrimination.
Coupled with the fact that it is a private bank, we all have to fight for performance, good performance promotion, poor performance get lost, want to lie down and dream!
Franz is concerned, now he has a hole to fill?
The Habsburg family does not have the luxury of taking out millions of guilders in cash at any time, the Royal Bank is still his personal property, Franz does not want others to follow the participation in it.
Now the Royal Bank does not lend to the public, not that he does not want to do this business, but do not dare to do, in case the Prussians tomorrow, he will have to immediately usher in the withdrawal of peak.
These donations, the Royal Bank has promised to earmark, if you can’t withdraw the money, be stabbed out of the misappropriation of donations, the credibility of the damage will be big to go.
Secrecy is impossible to keep secret, now no one poked through the windowpaper, that is Franz is the emperor, no one dares to do this head.
There is also the fact that they do not know how much money Franz misappropriated, if the number is small, it is not difficult to fill the hole. By the time the charge of rumor mongering and discrediting the emperor comes down, it will also kill people.
Plus more, still owe 21-1=20 chapters.
Hai Yue thank you for your support ????
(End of chapter)