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 farming system. However, we have not completely failed!"
He looked at the British banker aside: "Next, we will implement Mr. Goldmead's suggestion and use tax documents as bargaining chips 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 work together, we will be able to get the government 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 panic. In anxiety.
Because the tax collectors have always assured them repeatedly that they can reach an agreement 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 their tax collectors and get profits every year.
Now that tax reform is suddenly mentioned, 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..."
Feinuo sighed: "It would be great if I could buy an industrial development fund. I heard that this year's income 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 couldn’t raise 200,000 francs. It would have been better if we bought it when the subscription was opened last year. Then we could buy it for 1,000 francs.”
"Those big guys from the Federation really killed us!" someone complained. "Last month, Yasen asked me to invest in his textile factory, but I turned him down in order to wait for the 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."
After hearing this, everyone hurriedly dropped their coffee money and hurried towards the bank where the fund was held according to what the newspaper said.
Of course, this tax change fund is Joseph's means of attracting hot money from tax collectors.
He knew very well that the giants of the Tax Farmers Association accounted for only 40% of the total tax farm funds, and the remaining 60% of the tax farm funds would probably have nowhere to go after the tax farm system was abolished.
The income from this fund is higher than common projects on the market, but it is also much lower than the interest on loans from chaebols.
As for things like "only for tax collectors" and "limited amounts", they are just references to the methods of "hunger marketing". The French government is in desperate need of money right now. If someone really wants to subscribe for a large amount, "insiders" will naturally show up and help them through the back door.
And just as Joseph expected, it took only 10 days after the tax change fund was launched to sell 37 million francs.
This is only the result of sales in Paris and surrounding provinces. As news reaches further provinces, this number is bound to increase rapidly.
…
Just as tax reform is in full swing in Paris, the election of members of the provincial assembly in Corsica has also begun.
Completely different from the situation in previous years when the Zionist faction led by Pauli was the dominant one. In this election, four very powerful factions participated in the competition.
(End of chapter)