1850 American Gold Tycoon.

The population of California is mainly concentrated in San Francisco, Los Angeles, Sacramento and nearby satellite cities.

Among them, the Jinshan Bay metropolitan area centered on San Francisco has a population of 35, and is truly the number one city in the west.

The Los Angeles metropolitan area, which was fueled by oil, has a population of about 27, ranking second.

The capital, Sacramento, has a population of about 12, temporarily ranking third.

In terms of tax revenue, Los Angeles' contribution to California's tax revenue surpassed that of San Francisco, ranking first.

It’s just that the tax revenue contributed by Los Angeles to California is only slightly higher than that of San Francisco. After all, San Francisco’s industries are relatively complete. It is unrealistic for Los Angeles to simply rely on the petrochemical industry to throw San Francisco away.

However, it is an indisputable fact that San Lo and San Lo contribute more than 7% of California's tax revenue.

"The federal government suspects that the California Customs Service is involved in corruption. The President and the Treasury Department called my state government and the Treasury Department to say that their commissioner is on the way to California, and a representative is accompanying him.

President Fillmore and Secretary Conrad asked us to cooperate with their investigation at that time. "

Deng Wenyu, the God of Wealth in California, reports to Liang Yaohui, who is reviewing California's fiscal year 1855 financial report.

If there is one thing that is unified in America in this era, there is only one answer, and that is tariffs.

The Bureau of Customs is not an agency under the California government, but the most important department under the jurisdiction of the federal government's Ministry of Finance.

More than half of the federal government's fiscal revenue comes from customs duties, so the Customs Bureau is basically equivalent to half of the Ministry of Finance. The Federal Government has always attached great importance to the Customs Bureau.

The Bureau of Customs is also the only department in the United States that has branches in all state ports, and its official employees (customs directors, senior officials, general officials, customs monitors, dock managers, inspectors, clerks and other employees) exceed 1000 people. It is the most overstaffed of all government departments in the United States.

The highest-ranking official in the Bureau of Customs is the Superintendent of Customs, a position that requires not only presidential appointment but also congressional approval.

Even the appointment of the customs chief of each state branch, sometimes the Congress will intervene, especially in the rich states with developed foreign trade and considerable tariff revenue.

After 1852, California was one of the states that the Federal Customs Service focused on.

Especially after the petrochemical industry in Los Angeles took off, the federal government's Ministry of Finance, which has a sharper nose than a dog, opened another customs branch in Los Angeles that year.

"Is it suspected or true?" Liang Yao asked directly.

The Anti-Smuggling Bureau under the Ministry of Finance and the Customs Bureau often have work contacts. Whether the California Customs Branch is corrupt, Deng Wenyu, the Minister of Finance of the state, must know some inside information.

"It's true." Deng Wenyu said with certainty.

"These grandsons of the California Customs Branch are too greedy. They rely on the sky and the president's distance to brazenly collect money. Last year, I conservatively estimated that California's customs revenue could be 330 million US dollars. Secretary Conrad called and said that these bastards last year A tariff of 123 million US dollars was handed over.

No wonder a small inspector of the Customs Bureau bought a villa in Los Angeles without blinking an eye. "

With a tariff of US$330 million a year, it is no wonder that the State Department of Finance has been jealous of tariff revenue, which is almost three-quarters of California's annual fiscal revenue.

In the 1850s, the tariffs of the U.S. federal government were relatively high, basically above 25%, so the tariff revenue of the United States also increased accordingly.

The reason for this result is also related to the fact that the bourgeoisie in the north has gained more seats in Congress. Although the successive federal governments have clamored to protect the industries in the north from the impact of the European continent, they must also protect the plantations in the south. Sovereign rights and interests, so that the cotton, sugar cane, and tobacco in the south can be exported to foreign countries smoothly.

But where in this world are there so many things that both want and want.

In fact, the new tariff rate is discussed every year, and it is still getting higher every year. To put it bluntly, it is to take care of the North.

Especially after the "Morton-Morrill Tariff Act" was passed in 1857, the tariffs in the United States reached a historical peak.

To protect domestic manufacturing and agriculture from foreign competition, the act raised tariff rates on many imported goods by more than 50%.

"Are our people involved?" Liang Yao asked with a frown.

It is no wonder that the federal government will specifically intervene in a corruption case of more than 200 million U.S. dollars, and even send a special trip to investigate.

If this case is established, it must be the largest corruption case since the founding of the United States.

Liang Yao has heard that the Director of the California Branch of the Customs Bureau is the hottest position at the moment, even more sought-after than the Director of the New York Branch and the Director of the General Administration.

The reason is self-evident.

That is, California is too far away from Washington, coupled with the inconvenient transportation between the east and the west, it is easy to create conditions for these corrupt elements to become corrupt.

The California Customs Branch is so greedy, if it is said that Fillmore and Conrad didn't know anything about it, Liang Yao would definitely not believe it.

Right now, it’s the time of the presidential general election. Fillmore is checking the California Customs Branch at this time. He just wants to wipe his ass clean before he leaves office, so as not to leave a clue to the next president and the government team.

"The people under the State Finance Department have me watching, and their hands and feet are pretty clean." Deng Wenyu said confidently.

"Besides, the money from the tariffs does not fall into our pockets. The biggest intersection between the State Department of Finance and the California Customs Bureau is nothing more than people from the Anti-Smuggling Bureau cooperating with the Customs Bureau to complete the anti-smuggling work and have a meal and drink."

"It's fine if you don't have it. This is their federal government's business. They can do whatever they want." Liang Yao was shocked by the corruption of the California Customs Bureau, but he didn't pay much attention to it.

What Deng Wenyu said is also reasonable. After all, the money for the tariff is still the money of the federal government, and has nothing to do with California. If there is any relationship, he will definitely investigate it thoroughly and will not tolerate it.

The problem is that the Bureau of Customs is a key department under the jurisdiction of the Ministry of Finance of the federal government, and state-level governments and parliamentarians have no right to supervise and interrogate.

Of course, as a member of Congress in California, Liang Yao has the right to supervise the Customs Bureau. If he wants to control it, it is not impossible.

But the affairs in California are enough to keep him busy, and he doesn't have to worry about eating carrots and worrying about their pocketbooks for the federal government.

"Last year, the state government still had a surplus of US$106 million. It is still possible to allocate US$15 to the state university. It's just the third brother. You should think about this clearly. This is an annual allocation to the state university. $15 is not a one-off deal," Deng Wenyu said.

"Think about it clearly. If you have no objection, I will vote with you when the state legislature meets to go through the process." Liang Yao nodded, and asked immediately, "How much financial surplus has the state government had over the past few years?"

"To repay the loans from Bank of China and Bank of Boston, the state government still has a surplus of US$185 million." Deng Wenyu replied without thinking.

In the early years, California had a three-year tax exemption policy for industrial and mining enterprises. Therefore, the period when industrial and mining enterprises could not be taxed before 1853 was the most financially difficult time for the California state government.

At that time, the state government borrowed $150 million from the Bank of America and the Bank of Boston to tide over the difficulties.

"US$185 million is enough." Liang Yao is quite satisfied with this figure. "Use this money to set up a state bank. It will be more convenient for the state bank to issue banknotes or manage state financial debts in the future."

In the 19th and early 20th centuries, state banks were banks created by state governments to provide lending and savings services to boost local economies.

These banks usually work closely with state governments and enjoy certain privileges and immunities.For example, some state banks can issue bonds to the state government or be guaranteed by the state government.

It can be simply understood that these state banks are equivalent to the central banks of the states.

Before 1913, when the Federal Reserve System (Fed) was created, these state banks, along with banks chartered by the federal government and the states, assumed the functions of a central bank.

It is worth mentioning that the state banks in the United States do not mean that each state has only one state bank. The number and size of state banks vary from state to state. Some states have only one or a few state banks, while some states have many state banks. .

With the establishment of the Federal Reserve, after the federal government brought the power of the central bank to the central government, these state banks either went bankrupt or closed during the economic crisis or financial turmoil, or gradually evolved into commercial banks or were acquired by other banks.

Citibank, for example, was founded in 1791 as the State Bank of New York.

Another example is Wells Fargo, whose predecessor was the Massachusetts State Bank founded in 1811.

"California already has two chartered banks. Is it unnecessary to establish a state bank?" Deng Wenyu said after a moment of silence.

The two banks chartered in California, the Bank of America and the Bank of Boston, had exclusive rights to mint coins and issue government bonds.

"Don't overdo it. In the final analysis, a chartered bank is a chartered bank, not a bank." Liang Yao said, "It is more appropriate for the state bank to make monetary policy, supervise the financial system, and maintain financial stability."

"Our California has been very stable, you mean there will be changes in the near future?"

Deng Wenyu's sense of smell is very keen, and Liang Yao's establishment of the State Bank at this juncture must not be a whim.

"Who knows what will happen in the future." Liang Yao didn't deny this, he continued to ask.

"In the past four years, who are the largest trading partners of our California?"

The cyclical economic crisis that occurs every ten years is the curse of capitalism that has been inescapable since the founding of the People's Republic of China.

In the first six years of the 1850s, California was able to rise rapidly. In addition to its unique resource advantages, it was also an important reason for taking the express train of American economic development.

In 1850, the United States had just come out of the last economic crisis. Under the leadership of the emerging industry of the railway, the American economy was advancing all the way, and all walks of life showed a scene of prosperity and vitality. .

Few people perceive the crisis hidden under the prosperity.Over-expansion of bank credit, over-investment in railway construction, and fall in cotton prices. These three long-buried landmines will detonate a new round of economic crisis in 1857 and puncture the bubbles in the banking and railway industries.Neither the South nor the North are spared.

If he wanted California's economy to continue to maintain high growth and continue to attract more immigrants, Liang Yao had to find a way to make California stand alone in this economic crisis.

At least as much as possible to mitigate the impact of the Eastern economic crisis on California.

"Great Qing Dynasty, England, France, Japan." Deng Wenyu thought for a while and said, "However, the eastern region is our largest trading partner, because domestic tariffs are not high, and the products of most enterprises are still more competitive in China."

"Think of a way to reduce our dependence on the East. In addition, send a notice to the banks in this state to reduce investment in the Eastern Railway Company from next month and withdraw the capital as soon as possible." Liang Yao said.