Chapter 76 The opening of the Royal Bank (asking for first order!) On
February 17, 1901, the streets of Sydney were filled with people somewhere, and they were all waiting eagerly.
Everyone smiled, sometimes looking gratefully at the government and where Arthur was.
Right in front of the crowd, a building that had undergone simple renovations was hung with a signboard of the Australian Crown Bank and officially opened today.
A simple opening of a bank would not attract so many people to watch and cheer. What really caused these people to come one after another was a policy promulgated by Arthur along with the opening of the bank: all Australian families can unconditionally borrow up to two hundred pounds in the Royal Bank, and can use their own assets to mortgage up to an equal value. Thousand pound loan.
The two loan options combined bring the maximum loan amount per household to £1,200.
Even if this fund is placed in the rich and prosperous British Empire, it is a deposit that only high-income families can afford.
For some people, this deposit is likely to change their destiny, becoming a small entrepreneur, or even the capital for the rise of a business star.
Of course, for most people, being able to use this money to buy more land, increase their family's income, and improve their lives is the best result.
Because the interest rate on the loan is very low, it is not even worth mentioning. Therefore, many people have plans to borrow a sum of money.
At ten o'clock in the morning, under the respectful and enthusiastic eyes of everyone, Arthur came slowly in a carriage, followed by Butler Hunter and several guards.
With Arthur's arrival, the scene gradually began to quiet down, waiting for Arthur's speech and actions.
Arthur came to attend the ribbon-cutting ceremony for the opening of the bank, but naturally, various speeches were unavoidable before the ceremony.
After Butler Hunter introduced the role and goals of the bank, Arthur's speech followed.
The content of the speech was very simple. In addition to introducing the purpose of introducing loans, it also encouraged Australians to work hard to start a business and strive for success.
Although the content of the speech was very simple, it still aroused the welcome and shouting of a large number of Australians.
There is no other reason than the reputation and popular support in Australia.
Afterwards, with the completion of the ribbon-cutting ceremony, the Royal Australian Bank was officially opened.
Later, in a tense and orderly queue, the onlookers entered the bank one after another, asking questions and handling business.
Fortunately, the Royal Bank will only open in the capital Sydney in the short term, and branches in other states will not open until next month or even longer.
This also greatly alleviated the bank's funding problem. Although there seemed to be a large crowd of people watching, many people were still hesitant about the loan, and there were only a few who had really made it clear that they would get a good loan.
Arthur specially prepared five million pounds in cash for the opening of the bank, which now seems to be completely sufficient.
After all, even if most ordinary people have already decided on a good loan, they will most likely choose an unconditional small loan.
Except for a few people who are truly confident that they can rely on opportunities to rise and develop the industry, others are not willing to take on huge loans.
In addition to the loan business, which is more popular with ordinary people, there are also some people who come here for the bank's savings business.
This includes many officials and large households, and cabinet officials are no exception. Under the leadership of the experienced Prime Minister Evan, cabinet ministers have taken out their own funds and stored them in banks. Among them, some ministers with relatively large fortunes have even directly stored huge amounts of tens of thousands of pounds.
This is actually not surprising. The previous prime ministers were all political giants who grew up as senators. Being awarded the status of prime minister of a colony naturally received the approval of Queen Victoria.
The governor and prime minister of the colony are actually equivalent to the feudal officials, and they can be regarded as controlling the sky in the colony.
Although he cannot have military power, he has sufficient political rights. Coupled with various welfare policies from the UK, the annual income of these prime ministers is very high, at least thousands or even tens of thousands of pounds, and even as high as tens of thousands of pounds.
Therefore, when they took out tens of thousands of pounds to store, they didn't even show a hint of pain.
For them, compared to the ten thousand pounds, the most important thing is to make Arthur happy and to support Arthur.
Compared with previous prime ministers, the funds provided by other ministers pale in comparison, but they still amount to thousands of pounds.
But this is normal. Judging from the income of Australian cabinet ministers, in just six months, they can barely have a deposit of one thousand pounds.
Compared with the loan business window, the number of people queuing up at the deposit business window was pitifully small.
It's not that Australians are unwilling to deposit money in banks, it's just that most Australians don't have any savings, and there's really nothing they can do about it if their wallets are empty.
After inspecting the bank for a while, Arthur returned to the manor. Although it opens today, the number of people will be relatively large.
But in fact, most Australians will carefully consider whether to take out a loan, so the busiest time for business should be a few days later.
Arthur was not in a hurry. He just ordered Butler Hunter to carefully review and treat every loan deposit business and compile it into a detailed report.
On February 25, after a week of operation, Royal Bank successfully became famous in Australia, and to a certain extent, it also attracted many people from other states and cities.
At the same time, Butler Hunter has also completed the business summary for the week before the opening of the Royal Bank and submitted the report to Arthur.
I have to lament the terrible poverty situation of Australians. During the seven days from February 17 to February 24, the Royal Bank processed a total of more than 2,900 businesses.
Although it looks like a lot, in fact, more than 2,800 businesses are loan businesses, while there are only more than 100 deposit businesses.
You know, this is data produced with the support of cabinet members and some officials.
If the support of these officials had been subtracted, the number of depositors would have been even smaller and the amount less likely to have reached £90,000.
Compared with deposit business, loan business is much busier.
There are more than 2,800 loan businesses, of which more than 2,300 are unconditional loans, with an average loan of 80 pounds per household.
The remaining more than 500 loans are unconditional and mortgage-backed households. Because their respective properties are different, the amount of their loan is also different, but it is basically more than four hundred pounds.
It’s on the shelves, it’s on the shelves! Please make your first order! In addition, I wish you all a Happy New Year, a new year, and a new journey!
(End of chapter)