Chapter 511 Gather hot money first

Chapter 512: Collect hot money first

Yes, after Charles's 12 million franc loan was received, the High Court lifted the investigation ban on Charles Bolton Bank.

From the perspective of others, this was just an ordinary investigation that lasted for seven or eight days. Banks in this era often engaged in illegal operations, and it was normal for them to be sued and investigated, but no one knew that Charles almost lost half of his net worth because of this.

Fuld signaled everyone to be quiet and continued:

"Currently, the government has met the conditions to abolish the tax package system. However, we have not completely failed!"

He looked at the British banker standing aside:

"Next, we will implement Mr. Goldmead's suggestion and use tax documents as leverage to try to cover the salt tax, alcohol tax, tobacco tax and market tax."

The things he mentioned are basically the most profitable taxes. Although the tax amount of the market tax is not high, it makes it easier to sell some shady things in the name of the tax payer.

Hope immediately nodded in agreement: "You are right, as long as we all advance and retreat together, the government will be able to outsource these taxes to us.

“So, now it’s time to get as many tax documents as possible together here at the federation.”

He then looked at the middle-aged man with burn marks on his face: "Mr. Lafayette, the tax documents that Charles was previously responsible for will be sorted out by you."

"Okay, Mr. Hope."

Under the encouragement of Fuld and Hope, everyone suddenly felt that there was still work to be done in the tax farming business next year, so they swept away their previous dejection and began to talk about how to distribute the limited tax farming shares.

Unlike the confident tax collectors, thousands of other low-level tax collectors in France - especially those who only have tens or even thousands of funds and rely on raising funds to obtain tax rights - are in panic and confusion. In anxiety.

Because the tax collectors have repeatedly assured them that they can negotiate with the government and continue to pay taxes next year. So they have been holding the money in their hands, preparing to pay the tax package after the tax package agreement is negotiated.

However, the news that Charles suddenly publicly declared his support for tax reform and loaned all his tax money to the French government caused an uproar.

The actions of this federation boss clearly indicate that the government's decision to abolish the tax farming system is irreversible.

Those small tax collectors basically have no investment experience. In the past, they habitually put their money in the tax package and received returns every year.

Now that there is a sudden talk of tax reform, they are suddenly panicked - but no one told them that the General Assembly is preparing to use tax documents to fight - this matter, even most people at Lavoisier's level, that is, dozens of Even independent tax collectors with tens of millions of dollars don’t know about it. After all, the more people who know, the harder it is to keep it secret.

Seeing that the end of the year is approaching, the association has not yet notified the amount of this year's tax package agreement, so the small tax collectors have begun to look for a way out.

In fact, the only options left for them are to buy government bonds, deposit in banks, or buy land.

But these are much lower than the benefits of tax packages. Especially when buying land, you may not be able to choose a suitable land for a while. After buying it, you have to manage it yourself, otherwise you may even lose money.

Sylvie Fernot was one such tax collector.

In fact, his main business is running a glass shop, and he can only invest 7,000 francs every year, including taxes.

At this time, he and seven or eight partners - who collected a quarter of the city's business tax - were gathering in a cafe in the west of the city to discuss plans for next year.

"I think the only option is to buy treasury bonds. I heard that the interest rate on treasury bonds will be lower next year. It will be more cost-effective to buy before the end of the year."

Someone immediately shook his head: "The interest rate on government bonds is too low. Unless you buy one with a maturity of more than 10 years, but if you need money urgently during this period..."

Feino sighed: "It would be great if I could buy an industrial development fund. I heard that the return this year can reach 13%."

The partner next to him looked depressed: "It's a pity that the Industrial Development Fund no longer accepts small subscriptions. We can't raise 200,000 francs. It would be great if we bought it when the subscription was opened last year. At that time, it was 1,000 francs." Just buy it.”

"Those big guys from the Federation are really killing us!" someone complained. "Last month, Yasen asked me to invest in his textile factory, but I turned him down because I was waiting for a tax package agreement."

Just when a few people were at a loss, the door of the cafe was pushed open, and a middle-aged man with brown curly hair walked towards them waving a newspaper in his hand:

"Gentlemen, have you seen the government announcement?"

"Eric, you're late." Feano greeted him, "What's the announcement?"

Eric pushed away everyone's coffee cups and spread the newspaper on the table: "This morning's news is that in order to compensate for the losses of tax collectors, the government has established a 'tax change fund.'"

He pointed to the newspaper and said: "It can only be subscribed by tax collectors, and the amount must not exceed the tax package price."

Feano immediately asked the key question: "Where is the interest?"

"It's the same as the ten-year Treasury bond. And if the government's tax situation is good next year, you can also get dividends! Oh, and also, this fund can be redeemed as soon as half a year."

When Feinuo and others heard this, their eyes suddenly lit up.

I never thought the government would be so considerate! Although the income from this fund is far less than the tax package, it is already the best investment they can find at the moment.

The gentle man next to him stood up hurriedly and said: "We have to move quickly! You see, there is a limit. If you go late, it may be sold out."

Everyone heard this and hurriedly left their coffee money behind, and rushed to the bank that held the fund as described in the newspaper.

Of course, this tax system change fund was Joseph's means of attracting hot money from tax farmers.

He knew very well that the giants in the tax farmers' association only accounted for 40% of the total tax funds, and the remaining 60% of tax farmers would have nowhere to go after the tax farming system was abolished.

The income of this fund is higher than that of common projects on the market, but it is also much lower than the interest rate of loans to chaebols.

As for "only for tax farmers" and "limited amount", it is just a reference to the means of "hunger marketing". The French government is in urgent need of money now. If someone really wants to subscribe in large amounts, there will naturally be "insiders" who will show up and help them through the back door.

And as Joseph expected, the tax system change fund sold 37 million francs in just 10 days after its launch.

This is only the result of sales in Paris and surrounding provinces. As more distant provinces get the news, this number will inevitably increase rapidly.

…

Just as the tax reform in Paris was in full swing, the election of provincial council members in Corsica also kicked off.

Compared to the previous elections where the Restorationists led by Paulie dominated, this election had four very powerful factions participating in the competition.