1850 American Gold Tycoon

Industry Minister Fell himself is a gold mine owner, and his speech also represents the thoughts of the vast majority of gold mine owners.

Liang Yao also agrees with Feier's point of view. Heavily taxing gold mining is indeed an act of drinking poison to quench thirst.

Gold is California's golden sign to quickly attract immigrants. If this sign is broken, California will be no different from other new states.

"It is really not appropriate to continue to increase taxes on the gold mining industry."

Seeing that everyone was still arguing, Liang Yao expressed his position and motioned for everyone to continue sitting down and think of other solutions.

Liang Yao's statement made California politicians who operate gold mines breathe a sigh of relief.

"How about reducing the original three-year tax exemption policy for industrial and mining enterprises to two years?" Minister of Agriculture Chen Baoliang suggested.

After all, no matter which department it is in, it hopes to solve this crisis by raising taxes on other departments.

California's tax exemption policy for industrial and mining enterprises began in 1851. This policy has been in effect for two years now. Once this year is over, the state government will be able to tax industrial and mining enterprises that began to enjoy the tax exemption policy in 1851.

Liang Yao has also considered imposing a consumption tax, but the consumer market in California has not yet developed, so it is not yet time to impose a consumption tax.

"Credibility is a government's most important asset. If the California government changes its orders overnight, I'm worried that the people of California will lose confidence in us in the future. We cannot overdraw the credibility of the state government." This time it was Robinson who stood up to object.

Robinson's words also touched Liang Yao's heart.

In order to make achievements in the civil war eight years later, the California government must maintain a relatively high prestige among the California people and let the California people trust and even obey the state government.

Based on this alone, Liang Yao cannot make the decision to trust in the wisdom of future generations and let the next leadership team in California wipe their butts for them.

Besides, the next team of the California government is likely to be his own team. Doing so will also cause trouble for himself in the future.

"The people cannot stand without trust, and the state cannot be strong without trust. Since the tax exemption policy promised to industrial and mining enterprises was written in black and white for three years, it means three years. It cannot be discounted for one day." Liang Yao supported Robinson and immediately picked up the table. He took a sip of water from the water glass on the table, cleared his throat, and continued.

"As long as we survive this year and persist until next year, the earliest batch of working-class enterprises, agricultural reclamation companies, farmers, and farmers who enjoy the tax exemption policy will be able to pay taxes next year, providing California with a new tax source. By then, California's financial situation will be It will get better.”

California’s financial woes are not desperate, they are temporary.

As long as it persists until 1854, when the first batch of industrial and mining enterprises, agricultural units, and individuals enjoying California policy support begin to pay taxes, the state government can reduce its dependence on gold mining taxes, and the state government's life will be much easier by then.

Of course, the premise of all this is to survive this year.

1853 would be the most difficult year since California became a state.

"In this case, the financial situation this year will naturally be very difficult." Deng Wenyu looked embarrassed.

"It's hard for a good woman to make a living without rice. If the Ministry of Finance has no money, the state government will not be able to survive this year. Since there is no way to increase revenue, it can only reduce expenditures. Expenditures of various departments should also be reduced. Let's tighten our belts and grit our teeth together." .”

"Expenditures of various departments remain as usual, and every policy cannot be discounted." Liang Yao, however, has no intention of tightening his belt to get by.

Once these preferential policies are discounted, California's economic growth rate will also be reduced. California's economic growth rate will also be reduced, and California's industrialization speed will also be reduced.

There are only 8 years left before the outbreak of the Civil War. There is not much time left for California. He must race against time to develop.

"Where's the money?"

After hesitating again and again, Deng Wenyu mustered up the courage to ask.

"How much is California's fiscal deficit expected this year?" Liang Yao asked.

Deng Wenyu immersed himself in writing calculations on paper, and then gave the answer: "A relatively optimistic and rough estimate is that California's fiscal year will have a deficit of 3.6 million US dollars. Of course, this does not include last year's fiscal deficit of 1.9 million US dollars." .”

"What's the more pessimistic estimate?" Liang Yao asked.

"Then there will be a fiscal deficit of at least US$4.5 million this year. The specific amount depends on the quantity and quality of immigrants this year." Deng Wenyu held his chin and said after pondering for a long time.

"Okay, I will find a way to raise US$6.4 million to the Ministry of Finance to tide over this year's difficulties." Liang Yao gritted his teeth and said.

"What can you do?" Strauss, who had been silent all this time, asked.

"Borrowing debt." Liang Yao said, "As well as Japan's compensation this time, I will also fight for a part of it for California. In the military expedition to Japan, our California contributed the most, so it is reasonable to ask for some compensation as compensation."

Since there is no way to increase revenue for the time being, Liang Yao doesn't want to cut costs, so he can only borrow money first.

After making up his mind, Liang Yao asked Robinson about the situation of Boston Bank. Robinson told Liang Yao that the Boston Group had been expanding rapidly in the past two years, and the bank had released a lot of money, leaving not a lot of reserves.

Robinson said he could persuade Boston Bank shareholders to borrow some emergency money from the California government, but the amount would not be too much, estimated to be around $800,000.

The situation of Liang Yao's Bank of America is similar to that of Bank of Boston. With the rapid economic development in California, all walks of life are adding leverage, especially the banking industry.

Although Bank of America's reserves are considerable, Liang Yao himself still has a cash flow of US$9 million on hand, but he has reserved this money exclusively for the petrochemical industry and the construction of the Pacific Railway.

Although the cash flow of 9 million US dollars seems to be a lot, if it is used to destroy the petrochemical industry and build the Pacific Railway, it will only make a fuss at most.

But since the Bank of Boston is willing to spend $800,000, Bank of America must also be willing to do so.

After some thinking, Liang Yao decided to ask Bank of America to provide US$1 million.

After deliberation, the Ministry of Finance finally decided to issue $1.5 million in state bonds.

After this calculation, there is a gap of US$3.1 million.

For the remaining $3.1 million gap, Liang Yao decided to first find Gypsy and Le Goff, two British and French bankers in California, to see if he could borrow some money from them to fill this hole.

If they were unwilling to borrow, or if the requirements for providing a loan were too stringent, he could go to Wall Street to raise money.

How can a dignified multi-millionaire still live with a mere $3.1 million?

With his current worth and reputation, let alone borrowing money, as long as he is willing, it is not impossible to go to Wall Street and defraud millions. There is no shortage of elites, liars, and fools in the financial market.

After the meeting and leaving the conference hall, Liang Yaozai stood under the towering Huabiao and said to everyone: "The state government office building in Sacramento hasn't been completed yet. If it's not completed, the progress of the project will be slowed down first. The province's money will still be spent." Save it."