Chapter 260 Patriotism = Buying Treasury Bonds

While everyone was talking eagerly about the Greek national debt, a man with a protruding belly and a rich face walked into the restaurant. Judging from his Mediterranean hairstyle and gray hair on his temples, he was about fifty years old. age.

Milis was lying on the counter, supporting his head with one hand, lazily teasing Little John who was dining.

Seeing the middle-aged man coming in, the lazy Milis shivered, straightened his figure, walked out from behind the counter to greet him, and asked respectfully: "Mayor Deliannis, welcome to your presence."

The other diners also stopped talking and looked at Delianis.

After Derianis nodded to everyone, he said to Milis: "Give me a piece of mashed potatoes and a glass of wine, too. Thank you."

While Milis walked to the kitchen to get the meal, Mayor Deliannis turned to everyone in the store and said: "Everyone should also know the news. Due to lack of finances, the Greek government is currently at an unprecedented disadvantage in the border confrontation with the Bulgarians. status"

"If the Greek army really loses the war due to lack of military spending, it will really be a disaster for us people. The efforts of the Greek people in the past 30 years will be in vain and in vain."

"Gentlemen and ladies, believe me, you absolutely do not want to become a citizen of a shamefully defeated country. The fate of the country and the nation is closely related to the fate of each of us."

"Greece, a country in trouble, needs the help of every Greek at this time."

After that, he took out two securities from his coat pocket, waved them to everyone, and showed them to everyone: "These are the national bonds that the government is issuing. Every Greek with strong patriotism should take action to buy national bonds. Support the troops”

The Venizelos cabinet government has privately informed public servants to set an example and encourage people to buy government bonds issued by the Greek government.

Those civil servants who are active and effective will have priority in promotion.

And those public servants who passively shirk the issue of national debt can be directly dismissed from office if they behave badly.

The top government officials unceremoniously passed on the heavy financial pressure they have endured for a long time to the lower levels.

The middle-aged man Larris asked: "Mayor, what are national bonds? Can you explain to us clearly, are they securities like stocks?"

When someone asked, Delianis said diligently: "National debt means that the government borrows a debt from you. It will give you 5% interest every year. After maturity, it will also repay your entire principal. It is different from stocks." It's completely the same thing. Of course, if the holders of the treasury bonds currently issued by the government need money urgently, they can also sell the treasury bonds on the stock exchange and exchange them for cash."

"You can rest assured that these are bonds issued by the government with its own credit. Only if the war fails, the government may default on its debt. Of course, as a patriot, compared to the risk of not being able to cash in on the national debt you purchased, , I would like the government to defeat the Bulgarians”

"But as far as I know, the smallest face value of the national debt issued by the government is 1,000 drachmas, which ordinary people cannot afford. Even if we want to buy national debt to support the Greek army, we simply cannot afford such a large sum. Money," Laris said helplessly, spreading his hands.

Delianis handed a treasury bond in his hand to Laris and said: "The treasury bonds issued by the government have been adjusted in face value. The smallest denomination is only 10 drachmas. Most Greeks can afford it. You No need to worry at all”

"Citizens, the Greek government is in a difficult situation and needs the help of every Greek."

"If you are interested in buying treasury bonds, you can go to the three major bank branches in town and there will be staff to help you."

Obviously, Deliannis’s patriotic words had a strong appeal to the people present.

Moreover, in recent years, after each war victory, Greece's international status has been significantly improved, which has greatly enhanced the national self-esteem of the Greek people.

Greece's military expansion provided sufficient barriers and assistance for economic development, and the two complemented each other.

Therefore, the Greek people obviously have strong identification and trust in the current government.

In recent years, Greece's economic development has been smooth. Although the heavy industry is limited by Greece's resource endowment and has developed slowly, the light industry has benefited from Greece's full efforts to promote the use of alternating current throughout the country and has developed smoothly.

Heavy industry can make a country strong, but light industry can bulge people's pockets.

Therefore, although the Greek people cannot afford to purchase large-denomination government bonds, they are not impoverished.

On the contrary, most people in Greece have benefited from the booming economy, and every household has a small amount of savings.

Even though it is already the twentieth century, only a small percentage of Greeks own bank deposits and less than one percent own stocks.

Obviously, the public has absolutely no trust in financial institutions.

People are full of misgivings about leaving money to be managed by a group of strangers.

According to what Constantine learned from the bank, a considerable number of Greeks hid cash under their mattresses and were especially keen on precious metal currencies.

"Oh I see"

"This way we can also buy some national debt to help the government tide over the difficulties."

Miris came out of the kitchen with a plate of food, put the food on the table, and asked the mayor in a low voice: "Delianis, I plan to use the money I have saved for my youngest son to buy land in Macedonia to buy national debt. Is the return really that high? "

Miris's youngest son is 16 years old and has graduated from high school. His main property will be inherited by his eldest son, so he saved a sum of money for his youngest son early as the initial capital for his son to go out and find a career sooner or later.

Originally, Miris planned to use this money to buy a piece of wasteland in Macedonia for his youngest son, which was also an explanation to his youngest son.

Now, when he heard his old customer Delianis talking about national debt, he was obviously a little moved.

First of all, the return on national debt is good, 5% interest per year, which is quite considerable in this era when the currency is mainly gold and silver and inflation is almost negligible.

Secondly, there is also the mentality of helping the government to alleviate the fiscal crisis.

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This scene is happening in various cities in Greece, including Durres, Thessaloniki, Larissa, Ioannina, Vlora, Feri, and all cities in Greece.

Constantine's so-called new strategy for issuing national debt mainly includes two points: first, it is to reduce the face value of national debt.

Originally, there were only 1,000 denomination national debts. After adjustment, in addition to the 1,000 drachma denomination national debts, there are also 100 drachmas and even 10 drachmas.

So that every Greek can afford it.

Secondly, it is to stimulate the patriotic sentiment of the Greek people through public opinion and encourage the public to buy national debt.

Therefore, the method of Constantine for raising national debt this time is to link the purchase of national debt with patriotism to fully mobilize the public's emotions.

This is also the strategy that Constantine thought of after being inspired by the method of the Northern Federal Government issuing national debts during the American Civil War.