Chapter 150: Currency and Food Security

"For the development of the education industry in California and for our children and grandchildren to receive a good education in their hometown, I will donate $300,000 to the state government as the state government's education funds.

In addition, I have built an elementary school and a middle school. If you have children of school age, you can send them to the schools I built for education."

After stating the contents of the California Compulsory Education Act and Higher Education Plan, Liang Yao took the lead in making a statement.

The reporter of the California Daily, who was allowed to sit in on the record, wrote down the news quickly.

The news that the state speaker generously donated $300,000 as the California government's education funds will soon spread throughout California.

Three hundred thousand dollars is just less than a week's income for Liang Yao, and as for his reputation in California, there is no need for too much publicity.

The reason why he is willing to donate $300,000 is that he hopes to set an example and take this opportunity to observe these wealthy people in California.

"I'm willing to donate $50,000."

Senator and Secretary of State Gwen followed closely, took out a Bank of America check from his pocket and wrote $50,000 on it.

"I'm willing to donate $30,000."

Governor Robinson also expressed his willingness to donate $30,000 for California's state education.

"$10,000."

"$8,000."

"$5,000."

"$3,000."

"Very good, I think after you leave the state legislature, the people of California will praise your good deeds in the streets and alleys of California tomorrow, and the people of California thank you!"

Liang Yao watched the state legislators fill out the checks with satisfaction.

Now, Bank of America is no longer the only bank in California. In addition to Bank of America, there is also Bank of Boston in California.

Bank of France and Bank of Bahrain have also settled in San Francisco. In addition, the Astor family has also opened Citibank in San Francisco and Sacramento, responsible for Citibank's business in California and even Oregon.

However, more than 90% of state legislators still use Bank of America checks.

Bank of America is a young bank, but it has strong financial resources and good reputation. More importantly, Bank of America is a bank opened by the Speaker.

The remaining few members used checks from the Bank of France and the Bank of Bahrain. No member used checks from Citibank in the parliament.

The members of the state assembly all paid some money, some of them were actually unwilling to pay this money, but after seeing that the core figures in California and their colleagues had donated some money, they would be very unsociable if they were stingy, so they donated some money.

Besides, the money donated to the California Daily News was not completely wasted. At least they could see their names in the newspaper, which was like spending money to buy newspaper advertisements, although the advertisements were a bit expensive.

After the California Compulsory Education Act and Higher Education Plan was passed by the state assembly, Liang Yao granted Bank of America the official right to issue currency in the state assembly and stipulated that any foreign currency would be prohibited from circulating in California from next year.

Bank of America began issuing currency last year. Currently, the main currency circulating in California is the gold dollar and silver cent minted by Bank of America's American Mint. Without the currency issued by Bank of America, the entire California economy will inevitably fall into chaos.

In 1791, Hamilton, the founding father of the United States, proposed detailed suggestions for the establishment of a mint and a unified currency, which led to the birth of the US dollar. The main purpose of the US dollar at the beginning was to serve as a glue for the 13 states.

Since then, the United States has taken over the coinage rights of the states and the Congress, prohibiting the states from privately minting currency. The federal government's Treasury Department wants to take back the financial power.

It's just that the ideal is full and the reality is very skinny. Due to the lack of metal currency in the United States and the excessive issuance of US dollar bills by the federal government, the currency of the United States was once very chaotic. The value of the US dollar, especially the paper credit currency endorsed by the US government, plummeted, and the prestige of the US government and Congress also depreciated along with the credit currency.

Hamilton's original intention to take back the states' coinage rights was good. He did not expect that after Congress took back the coinage rights, it was not about how to improve the US dollar's monetary system and solve the problem of the shortage of precious metal currencies in the United States.

Instead, it abused the issuance of US dollar bills and took this opportunity to make money crazily. In this regard, Congress was even worse than the original states, almost paralyzing the entire country.

Under the protests of the people and the states, Congress had to give in and grant the state legislatures of the states the power to grant commercial banks the right to issue currency.

This also caused the chaos of American currency in the early and mid-19th century. According to Liang Yao's understanding, Texas and some southern regions still prefer to use Mexican silver coins instead of US dollars.

Because Mexico's precious metal coins are more stable in value than US dollar bills.

As for the US dollar precious metal currency, the value is also relatively stable, but the number is pitifully small and cannot meet market demand.

The US dollar bills issued by the states for the US dollar bills issued by the state's commercial banks are slightly better than the previous government-issued toilet paper, but their value is still very unstable.

Currency is an important factor restricting the development of the American economy.

The United States initially solved the currency problem during the Civil War, and the greenback dollar, which is well known to people in later generations, gradually entered people's field of vision from this time.

It was also from this time that the United States began to develop at an incredible speed, and at the end of this century, it completed the great feat of catching up with France and surpassing Britain in economy.

Liang Yao spoke for most of the day, and he felt a little dry in the mouth, so he went to his seat to drink a sip of water, ready to slow down before proposing the next proposal, which was called "California Industrial Five-Year Plan" and was tightly held in his hand. This was the most important proposal today.

When Liang Yao walked down the podium of the parliament for intermission, the person who came on stage to speak was Chen Baoliang, the Minister of Agriculture of California.

Since he was the Minister of Agriculture, the content of Chen Baoliang's speech was naturally related to agriculture.

Chen Baoliang's English was very poor. After getting used to Liang Yao's proficient and fluent English, listening to Chen Baoliang's speech was a torture for these state legislators.

But they did not dare to despise Chen Baoliang's speech, and they listened carefully.

In addition to being the Minister of Agriculture, Chen Baoliang has another identity, that is, the President of the California Agricultural Association.

And Chen Baoliang was able to become the Minister of the State Agriculture Department mainly because of his own efforts.

Chen Baoliang took his Fujian compatriots to find a different way and embarked on a different gold rush.

That is to reclaim fields and plant food crops.

Not only did he reclaim land himself, as the patriarch of the Chen clan in southern Fujian, Chen Baoliang united other clans in southern Fujian to cooperate in reclaiming wasteland, and learned from Liang Yao to establish the California People's Committee to establish the Agricultural Committee.

After becoming bigger, Chen Baoliang expanded his cooperation objects to Fujian compatriots, and then to all Chinese immigrants.

And after the establishment of the state in September last year, he began to absorb white farmers in California into the Agricultural Committee and renamed the Agricultural Committee as the Agricultural Association.

Chen Baoliang also intermarried with local farmers. After marrying the daughter of a large white farmer, he also wanted to take the daughter of a small farmer as a concubine.

However, taking concubines is illegal in California, so he had to give up and let his brothers and nephews marry local white farmers.

The members of the California Agricultural Committee are basically farmers, and the emerging Chinese farmers are the majority.

Although except for Liang Yao, most of the industrial and mining enterprises in California are small-scale.

But in terms of agriculture, the Chinese can be said to have controlled half of California's agriculture.

Last year, the Chinese provided more than 40% of California's wheat, 100% of rice, more than 60% of vegetables and fruits, and more than 60% of aquatic products.

If the farm products provided by white farmers in the Agricultural Association are counted, the proportion will be even greater.

Liang Yao also has his own Shennong Agricultural Reclamation Company, and the company's leadership has also joined the Agricultural Association.

Because he runs a catering business, he also runs a reclamation company to provide support for his own industry.

At the beginning of the establishment of the Agricultural Association, Chen Baoliang and others asked Liang Yao to serve as the president of the Agricultural Association.

However, Liang Yao declined. He now has several positions and does not have the extra time and energy to serve as the president of the Agricultural Association.

Anyway, Chinese immigrants follow his lead, and no matter who becomes the president of the agricultural association, it is impossible for him to pose a threat.

"California is currently not self-sufficient in food. The food produced in the state can only meet 60% of California's supply. The remaining gap must be purchased from Indians and Mexico to meet our needs."

Chen Baoliang stated the current severe situation of California agriculture.

"Gentlemen, let me add that next month, the Federal Customs Bureau will move into California and set up a branch in California. That is to say, from next month, we will have to consider the 31% tariff issue when importing Mexican food."

Ge Wen added.

Tariffs are the main fiscal revenue of the federal government. The federal government will never turn a blind eye to California in this regard.

The 31% tariff was set by the U.S. Congress and the federal government to protect the country's industry and commerce.

Local factory owners are the main beneficiaries of high tariffs, and there are naturally beneficiaries and losers.

The biggest losers are naturally agriculture, especially southern plantation owners. The plantation economy represented by cotton planting is the economic pillar of southern states.

High tariffs have indeed blocked cheap and high-quality industrial products from Britain, France and other countries from entering the United States, but the export costs of cash crops from plantations in the southern United States have also increased, and they have lost their competitive advantage in the international market.

What is more fatal is that cash crops in plantations in the south cannot be digested in the United States

Although California is not an agricultural state, the tariffs across the United States are unified, and California's agricultural imports will also taste the bitter fruit of high tariffs in the United States.

"Mr. Ge Wen's words make sense. California must achieve self-sufficiency in food, which is related to the state's food security."

Liang Yao also expressed his support for this.

"Minister Chen, please continue speaking."

Liang Yao signaled Chen Baoliang to continue speaking. The Chinese took the initiative to participate in politics, which is a very positive signal.

"As Mr. Ge Wen and Mr. Liang said, the state government must guarantee the food security of the people of California, and the rice bowls of Californians must be in the bowls of Californians."

With the affirmation of Ge Wen and Liang Yao, Chen Baoliang became more confident and his English became more fluent.

"We can temporarily import food from Mexico, but we can't do it forever. There is a large amount of land in California that can be cultivated into good farmland."

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