Republic of China: Ace Pilot

Chapter 21, Finance in the Republic of China, Reminiscing at the Airport
To find out the exchange rate between the US dollar and the ocean, Fang Wen returned to Citibank.

It was still very deserted there, but the lobby manager was very welcoming.

"Mr. Fang, you're back again. What business do you need me to conduct?"

"I want to know the exchange rate between US dollars and silver dollars."

"I'm sorry, there are some things I need to explain to you."

Perhaps out of boredom, the lobby manager explained the entire process of exchanging US dollars.

The financial foundation during the Republic of China era was the silver standard, so although Yuan Shikai fell from power, the silver dollar economic system he established continued to be used.

At the same time, the monetary base of the United States was the gold standard, meaning that the exchange between silver dollars and US dollars was actually an exchange based on the gold-silver ratio.

However, the actual situation is not that simple.

Currently, a large number of different versions of silver dollars are circulating in the market. Among them, the silver content of the 3rd year of the Republic of China is the highest. Later, from the 4th to the 8th year of the Republic of China, there were also silver dollars with different markings, but those were of very poor quality because the mint's equipment was not actually operating during those years. Heaven knows where those marked silver dollars came from. Later, other equipment purchased from abroad was used to produce more silver dollars, resulting in a wide variety of different qualities on the market.

Therefore, while silver dollars circulated in China, they were flooded with counterfeit and fake coins, making them unusable as a basis for exchanging gold for US dollars.

To address this, Citibank created its own gold price list, which is changed every two weeks.

If you want to exchange for US dollars, just exchange them directly with gold.

After listening to the other party's explanation, Fang Wen made his own calculations.

In other words, to purchase a Boeing 80, the transaction must be settled in US dollars, which means exchanging silver dollars for gold and then converting that gold back into US dollars.

The current gold price quoted by banks is $21 per ounce, up $2 per ounce from last month. This is said to be due to the situation in Northeast China, which has led to the devaluation of silver dollars and the appreciation of the US dollar.

After conversion, it was roughly equivalent to 2.9 silver dollars to one US dollar.

$13 is roughly 37.7 dollars.

So expensive?! Fang Wen finally understood what Howard meant when he said the Boeing 80 was expensive.

Let alone buying a Boeing 80, he couldn't even afford a military fighter jet that cost $2 a month.

I thought I was very wealthy, but I found out that I was only middle class.

Fang Wen chuckled to himself as he led Howard away from the bank and back to the airport.

Two more days have passed, and there's not much time left before the holiday ends.

People from the south have come to receive the Rhine NYP-2.

It was the same driver from last time, who came along with his assistant, Manager Liu, and Sun Debiao.

Because of the haste at the time, there was no communication, but this time Fang Wen communicated with this colleague.

I then learned that the pilot's surname was Lu, he was an Air Force lieutenant, and he was one of those who had returned from studying abroad.

The moment he revealed his identity, a strange sense of superiority arose from him.

In comparison, Fang Wen, a graduate of Nanyuan Aviation University, is inferior to her in many aspects.

It was precisely because of this sense of superiority that he was unwilling to risk going north for some reward.

It was this arrogance that made the conversation uninteresting, so Fang Wen didn't say anything more and led the group to the hangar.

There, Lieutenant Lu conducted a thorough inspection of the aircraft and found no problems; in fact, the condition was even better than before he arrived.

Somewhat surprised, Lieutenant Lu said nothing, but directly asked Manager Liu for the remaining payment. Then, with a box of silver dollars, he and his assistant boarded the plane and flew south.

Watching the plane leave signify the official end of this Northeast operation, Fang Wen smiled as he looked at Manager Liu and Sun Debiao.

"How about the four of us get together? Have some drinks and a few snacks."

Manager Liu and Sun Debiao returned the smiles; their shared experience of life and death made their relationship extraordinary. Of course, this kind of private relationship was not suitable for public display.

The four of them chose to have a meal and chat at the airport.

In their dormitory room, the four of them ate braised dishes and drank liquor that they had gotten from the cafeteria, chatting freely.

"This flight to Northeast China really opened my eyes. Airplanes are great. From high above, you can bomb and machine gun down at people without them being able to hit you. Manager Liu, didn't you enjoy it?"

The usually refined Manager Liu downed his glass of wine in one gulp and wiped the wine off his chin and beard.

"Absolutely! I am just a scholar, and I usually get dizzy when I see chickens being killed, but that day when I pushed the big oil drum down and the flames soared into the sky, I felt a strange sense of joy."

"Yes, those short, stout guys, they usually look so humble, but they're really ruthless when it comes to fighting. I wonder what kind of mess they'll make of the Northeast in the future." Sun Debiao nodded and sighed, downing his drink as well.

Manager Liu looked at Fang Wen: "Commissioner Fang, how chaotic do you think the world will have to get before it ends?"

Fang Wen poured drinks for the two of them and replied.

Do you think China will eventually be unified?

"Yes, that's true. Throughout history, the world has always been divided and then united." Manager Liu nodded earnestly.

Fang Wen was somewhat moved that even an accountant had this kind of understanding.

But this process was quite tragic.

He didn't want to talk about this issue anymore, so he changed the subject.

Are your families planning to stay in Shanghai?

"Yes, Shenyang has fallen, and the Northeast is almost gone. The Japanese will definitely enter the pass and attack Beiping next. Our families have no choice but to move to Shanghai." Manager Liu had been drinking and had become more talkative.

he continued.

"But the waters here are too murky. Foreign compradors, military leaders and merchants from all walks of life, and even those gangs all have their own territories. They look at us like treasures, and it will be extremely difficult for them to establish themselves here."

Sun Debiao interjected, "Our roots are in the Northeast, and now we're homeless. It's hard enough to keep our current businesses. If we show weakness, all sorts of people in Shanghai will devour us."

Fang Wen nodded in agreement.

Shanghai is a very complex place. Don't think that having connections will make things easier for you. The various interests and struggles are hard for outsiders to understand.

That's why he focused on mastering his craft that year and didn't try to build connections with his old classmates.

But now, listening to what Manager Liu said, he had another idea.

These families from Northeast China definitely wouldn't be able to make it in Shanghai.

The money they brought, even after being used to bribe officials in various ways, couldn't salvage anything.

If we could persuade them to take out that money and invest in a private airline, it would not only solve our own funding problem, but also fulfill their desire to establish a foothold in Shanghai.

Therefore, Fang Wen smiled, got up and took a box from the bedside table, and placed the two gold bars wrapped in cloth in front of Manager Liu and Sun Debiao respectively.

"The reward for this trip to Northeast China can be considered a small reward for our shared life and death experiences."

The two men looked at the two gold bars wrapped in a red cloth in front of them.

He looked surprised.

"Keep them. Howard and Yue Jinping have already taken theirs, now it's just yours that are left."

The two were immediately tempted and put the gold bars away.

Fang Wen continued, "I have a suggestion that will benefit all of you, and it will also be of great benefit to me."

(End of this chapter)