Volume 1 Turbulent Times Chapter 12 What is Professional (Part 2)

  After much persuasion, everyone finally sat down. Tang Shaoyi had served as Premier for a short period of time and was considered senior in terms of qualifications. However, he only held the position for two months. On the surface, it seemed that he resigned due to dissatisfaction with the Wang Zhiyuan incident, but in reality, it was because of financial difficulties.

  During his tenure as Premier, Tang Shaoyi was extremely frustrated every day, struggling to come up with ways to raise funds to support the government's massive expenditures. He was so worried that he lost a lot of hair on his head. Eventually, he couldn't take it anymore and had no choice but to resign.

  Moreover, during his time as Premier, Tang Shaoyi personally represented the government in negotiations with financial groups regarding large loans. Therefore, he took the lead in explaining the details of the post-disaster loan to everyone, particularly highlighting the current state of national finances and providing clear numerical evidence. Meanwhile, Liao Zhongkai and Fang Zidao also presented some data as supporting evidence, emphasizing the importance and necessity of the large loan, while also explaining Song Jiaoren's difficulties in this matter.

  "What's the big deal? Can a country be sold for just a few pieces of silver? Don't you forget, the terms of the large loan stipulate that the government uses Chinese salt tax, customs duties and designated central government taxes from Zhili, Shandong, Henan and Jiangsu provinces as collateral, and the consortium of five banks has various priority rights, supervision rights, auditing rights, personnel rights... Isn't this a naked act of treason?" As Tang Shaoyi explained, Zhang Ji's face gradually eased up, but Wang Zhengting retorted sternly.

  Seeing Song Jiaren's embarrassed expression, Tang Shaoyi and others repeatedly tried to dissuade him but to no avail. Fang Zidao quietly sighed and took the initiative to stand up and ask Wang Zhengting: "Brother Rujun, I heard that you graduated from Yale University in the United States and studied law?"

  "What does this have to do with what we're talking about now?"

  "Haha, of course it's related, how could it not be?" Fang Zida asked very seriously: "Brother Ruda is a high-achieving student from Yale and a senior in the legal field. He must be more familiar with legal matters than anyone else present. I'll take the liberty to ask, based on your professional knowledge, whether the large loan in all negotiation processes, procedures, and contracts complies with the current laws of our Republic?"

  "You... 7Z?" Wang Zhengting suddenly stiffened, although he had been saying that Yuan Shikai's loan was unconstitutional and illegal from the start, but if he really investigated thoroughly, the government's large loan was at most just a marginal issue, and there was no fault to be found.

  "According to the current provisional constitution of the Republic of China, Yuan Shikai……." He hesitated, and Wang Zhengting was about to find an excuse, but Fang Zidao interrupted him decisively: "Rutang brother, no need to say so much, I only need five words 'illegal' or 'not illegal'!"

  Fang Zidao was defeated by Wang Zhengting, who was furious and had a dark face. After hesitating for half a day, he finally squeezed out three words: "Not illegal!"

  "This is it!" Fang Zida clapped his hands and smiled, then turned to the others and said: "Mr. Lin, I remember you studied electrical engineering, right? Lian Bo and You Ren are both from the Qing dynasty's imperial examination system, Shaochuan is a graduate of the Engineering Department, while Zhongkai and Puquan both studied political economy, although there are two words 'economic' but mainly it's still politics-based, isn't it?"

  Everyone nodded slowly, and Fang Zidao said: "Just now Rú Táng explained it clearly. In fact, the government's large loan is not illegal, nor does it violate the constitution. This point is clear to everyone, and as a gentleman, you can't deny it with your eyes open?" Before anyone could refute, Fang Zidao continued: "So from this perspective, the so-called illegal behavior is simply untenable!"

  "But Yuan Shikai has sold out the country's interests!" Zhang Jifa exclaimed, interrupting.

  "Wrong!" Fang Zida shouted louder than Zhang Ji: "Selling out national interests? What is a country? What are interests? If it's just relying on the salt tax, customs tax and other taxes as collateral, is that selling out national interests? This statement is really wrong! Standing up, Fang Zida looked around at everyone and said loudly: "You all have been abroad, held important positions in the country, and should be more clear about what international conventions are than a commoner like me. Whoever borrows money, whether it's an individual or a country, doesn't need collateral? This is not only common practice but also allowed by law. If someone doesn't understand this, they can ask Ru Tang for advice, as he will certainly have an answer with his expertise."

  Wang Zhengting was taken aback, his heart filled with a mix of emotions. This Fang Yangming was indeed cunning, not only had he just won a round against himself, but now he was dragging in all sorts of irrelevant things and even managed to drag Wang into it, turning the tables so that Wang, who had come to interrogate him, ended up being on his side instead.

  Seeing Wang Zhengting's awkward expression, Fang Zidao secretly rejoiced in his heart, but his expression remained solemn: "As can be seen from this, borrowing without collateral or guarantor is not borrowing at all. To put it bluntly, it's having too much money and nowhere to use it. Why not just donate the money for charity? I think there's no such fool in this world who would lend such a huge sum of money. As for another reason pointed out by you gentlemen, that is, the Five-Nation Banking Consortium has various priority rights, supervision rights, auditing rights, and personnel rights, etc., this reason is even more ridiculous. May I ask you gentlemen, who knows what international accounting principles are?"

  "International... accounting... restoration principle?" Everyone looked at each other in confusion, no one had heard of this term before. Accounting was something everyone knew about, also known as the accounts room, but what did it have to do with some international principle?

  Seeing these people being shocked by themselves, Fang Zidao immediately gave a lecture to everyone. Starting from the meaning of accounting, then talking about the role and status of accounting in various aspects of the economic field, and then extending to international principles, assets, liabilities, accounts receivable, accounts payable, borrowing, expenditure, income, auditing, statistics, budgeting, financial supervision... One by one professional terms, a string of professional jargon, spoken with flying saliva and cloudy mountains. The people present were listening with wide eyes, completely unable to understand what this meant, but they all felt that what Fang Zidao said seemed very powerful.

  After talking for a whole hour, Fang Zidao finally concluded the matter with his three "nots": "Not against the law, not against the constitution, and not selling out the country".

  "Xie Ming, thanks a lot today."

  "Haha, unexpectedly, Xiang Ming actually understands the way of economy so deeply, admirable! Admirable!"

  After sending away those who were still confused, Song Jiaoren finally breathed a sigh of relief. He was extremely grateful for Fang Zidao's rescue today and Liao Zhongkai and others admired Fang Zidao's economic knowledge and debating skills, praising him in unison.

  "This is just some common economic sense, I've been abroad for a long time and have done business myself, so I naturally understand these things. Actually, if you ask around or consult with a few professionals, you'll understand too." Fang Zida modestly waved his hand, glancing at Yu Youren and Wu Zhonghua who were still trying to digest the financial knowledge.

  "Yes! Unfortunately, no one thought of it from that perspective." Song Jiaoren sighed.

  Fang Zida nodded and solemnly reminded: "Revolution requires passion, but passion is not the only thing that revolution needs. Especially in this situation, stability must be prioritized above all else. Brother Yun Chu, the storm surrounding the large loan must be put down immediately, no matter what method is used. First and foremost, the situation must be calmed as soon as possible. Only when stability is achieved can subsequent work continue. If this matter causes another stir in the south and north, the consequences will be...".

  "Zhang Ming is right! At the beginning, it's not suitable to delay, our primary task is to get the support of comrades within the party and calm down the situation." Liao Zhongkai raised both hands in agreement. Although the big shots who came today were temporarily stunned by Fang Zidao, they didn't mention anything about protesting when they left. But it's hard to guarantee how they will think after they go back, and the attitudes of other congressmen, party members, and military and political leaders from southern provinces are also crucial.