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[English subtitles are available]
[War of Faith]
[Episode 25]
Sorry, everyone.
The Central Bank's internal meeting was delayed.
So Iโm late.
Please forgive me.
Advisor Shen.
Have a seat.
Mr. Yu.
The war happened suddenly.
The Central Bank is the pillar of finance.
It's understandable.
Please have a seat.
Judging from your expression,
I'm afraid today's situation is not simple.
I do have two requests today.
Firstly,
I hope the banking associations in Shanghai
will respond to the summons of the head association
and shut down indefinitely
to protest against Japan.
Secondly,
we must raise funds for
the 19th Route Army's pay and provisions.
Both requests are difficult.
Although Japan has waged war,
they had a talk
with the British and American consulates
beforehand and promised
not to touch the concessions.
If you ask us banks
to join the strike,
you'll put the concession and business departments in a difficult position.
When the country is in trouble,
our priority is the interests of the people.
After all, we are all Chinese.
Of course,
we put our country
n the most important place,
our hearts.
But
we just received
an emergency call from Wuhan, Nanjing,
asking us to focus on the overall situation.
At a time like this,
if we suspend operations
and settlements,
I'm afraid they won't agree.
At a time like this,
we must be united.
The suspension of operations
is a declaration of our stance
and the stance of Germany, France, Britain, and America.
You're all handling foreign capital.
If you don't suspend operation,
Japan will believe that
the leaders of those countries are on their side.
Only when you suspend operations
will the international public think about
which side
justice should stand with.
Advisor Shen is right.
If Shanghai
were occupied by the Japanese,
even if we had support from Britain and America,
our future
would be bleak.
But
suspending the markets indefinitely
is a little...
Like I've said,
it's about taking a stand.
If we can't do it indefinitely,
let's suspend operations for three days.
Three days, is that okay?
Come on.
Three days
to take our stand.
I think it's okay.
What about you?
Sure.
The second problem,
about the 19th Route Army's pay and provisions.
I canโt negotiate on this.
I'm sure you have all heard
the bombing outside.
The 19th Route Army is Shanghai's main anti-Japanese force.
They haven't been paid for two months.
The government only has
three million in its account.
The monthly expenses are 22 million.
But I think
no matter what,
we cannot skimp on military pay.
So, everyone,
please.
Fugen.
Eat something.
Your family is gone.
But you have to live on.
You have to live on!
Fugen!
Fugen.
I told you we should have gone home.
But you refused to listen to me.
Now's not the time for that.
Will you quit it?
It's a mess wherever you go.
Stay in Shanghai for now.
Wen!
Wen, how are you?
Wen.
Get up.
Get up.
Wen.
What's wrong?
Japanese! Japanese!
So many of them.
What's going on?
I couldn't do it. I tried my best, Wei.
The Japanese couldn't take down Zhabei Station all night,
so they bombed the residential area.
People are injured everywhere.
There are no beds in the hospital and no medicine.
Is it better in the concessions?
Slow down.
I think
they are all the same.
I heard
over 100,000 people rushed there last night.
All the police were chasing people away
with their big sticks.
There are so many.
Ms. Zhou.
How about this?
I have to go to work later.
I'll take everyone to the concession for shelter.
Every successful entry counts.
Wei,
you're just one person.
How many people can you bring in?
If you mess up, no one can get in.
Yes.
We're not leaving.
What will they do if we leave?
Get to work.
We're not going anywhere.
Let me help you, Ms. Zhou.
Hurry up.
I'll get a few rickshaws.
Are you cold?
I'll get the quilt.
Hurry.
Pass things down to everyone.
These emergency supplies, too.
Here, have some steamed buns.
Here.
Thank you.
Why are you here, Miss Shen?
It's too chaotic here. Leave now.
Are you okay?
Are you hurt?
I'm fine. Just go.
It's too close to the war zone here.
Go!
Hurry up.
Wei Ruolai!
I can't leave.
Look at the situation now.
I have to stay and help.
Take this.
For self-defense.
I hope you won't need it.
This is the 19th Route Army speaking.
This is the 19th Route Army speaking.
This is a report
to all countrymen,
Japan has occupied the three northeastern provinces.
We have lost territories
and our nation is dying.
Recently, they attacked civilians in Shanghai.
Their actions are violent and atrocious.
They point their cannons at us
and their troops are on our land.
On the 28th of the month, at midnight,
they invaded us from Zhabei, Shanghai
and provoked us.
Those who belong to the army
must execute proper defense measures.
Defending the country
is our duty.
We cannot give up
on our territory.
Fight against Japan to save our country and people.
Even though we may sacrifice ourselves,
we must never back down.
This will and determination
shall be witnessed by the world.
The spirits of our ancestors
shall testify it.
Japan's ambition is clear as day.
Guards!
If the Japanese charge in here,
we'll just be killed here.
Instead of dying in vain here,
I'd rather die honorably on the battlefield.
We want to fight!
Fight against the Japanese!
We want to fight!
Fight against the Japanese!
Just tell them that
Lin Qiaosong is willing to fight to the death.
Captain Lin,
your sentence is not over.
I'm afraid...
What are you afraid of?
We will die
if we stay in this prison.
Instead of dying in prison,
we rather die on the battlefield.
I want to go home.
I'm hungry.
Zhabei took the hardest hit.
It's a relief that you're alive.
Seven of my neighbors died.
Countless are injured.
Now do you know why the government didn't dare to declare war?
The chairman called Mr. Song
and pleaded for military expenses.
I could only borrow so much from people, too.
The military expenses raised from various banks
are not much,
but luckily, they come from foreign accounts.
The Banking Association purchased a batch of urgent supplies.
Medicine, bandages, and the like.
They are all stuck at the port.
It's an impossible task
delivering these goods
to the 19th Route Army
from the concession.
Let me try.
You?
What can you do?
Yes.
The Japanese dare not fight in the concession,
but there are
their vigilantes and spies everywhere.
If they find out that we're transporting
the supplies from the concession to the Chinese border,
they will be waiting to intercept us at the border.
How do we know if we don't try?
I wasn't raised a coward.
Ruolai.
Remember what I told you before.
Assess the situation.
In the face of danger,
your life is more important than supplies.
I understand, Sir.
[19th Route Army] [Eliminate the Japanese enemies and protect our country] [Make them pay]
[Boycott Japanese goods forever]
Sir.
Madam.
Brothers and sisters.
The 19th Route Army
is protecting our country,
our women, and our children.
We common folks should contribute
whatever money and strength we have.
If we work together, we can achieve victory.
Wei.
I delivered the message.
But Hao and others...
Hao.
I know it's very risky this time.
I'm not very confident either.
How about this?
Consider it a business.
I'll pay you good money.
How much?
How about
100 US dollars?
This is the transport fee for one trip.
I'll pay you after each trip.
Hao,
this is the highest price I can offer.
Listen, Wei Ruolai.
We're willing to do it.
But we're not doing it for the Central Bank
or for the officials.
It's for the 19th Route Army
who are fighting the enemies with their lives.
So we don't need the money.
Keep it for the army.
Okay.
Thank you, guys.
Please.
Keep up. Don't fall behind.
One, two, three.
Kill them!
Hao!
Wei!
Hide!
Assistant Wei.
Be alert.
Who are you?
What, you don't recognize me already?
Captain Lin?
What are you doing?
We're delivering supplies to the 19th Route Army.
Are you a Dare-to-Die Corps?
What else can we prisoners be?
Team, we've got work to do.
Armored vehicles are arriving at the next street.
Let's go.
Yes.
Stay alive.
I'll deal with you when the war is over.
Be careful.
Be safe!
Be careful!
Hurry up!
The rickshaws are here.
The rickshaws are here!
Get moving!
The rickshaws are here.
Doggie, hurry here.
Drink something warm.
This one.
I just poured it. Have some.
Wen!
Sir.
Sir, why are you here?
I'm here to help.
Let me, Sir.
Come, give me a hand.
Come on.
Have some water.
Okay.
Thank you.
Fasten them well.
Mr. Shen,
you're a big shot.
We all want to know
how long this war will last.
Take a break.
Everyone is united now.
The 19th Route Army is fighting fearlessly.
The industrial and commercial sects are suspended.
International public opinion is in full swing.
If this continues,
the Japanese won't last long.
Yes!
Send them back to their hometown!
Yes.
Send them back to their hometown!
Give us back our country!
Knock down the invaders!
Send them back to their hometown!
Send them back to their hometown!
Let's go.
Let's go!
Mr. Shen, have some tea.
Thank you.
Be careful.
Be careful.
Be careful.
Doggie, slow down.
Hao, slow down.
Sir,
you're having dinner here?
You must be hungry.
Come on.
Eat it soon.
There's enough for everyone.
There's more.
Thank you, Hao.
Have the supplies been delivered?
Yes.
Here, have this.
Do you have pickles?
Do you like it?
Wei.
It's delicious.
This war
is almost done.
By next week,
there should be definite news.
That's great.
You think it's good?
I don't think so.
The real challenge
has just begun.
Previously, the situation was just beginning to improve.
Thanks to this war,
the treasury is empty again.
We can't do anything without money.
Many construction plans
can only be postponed indefinitely.
Mr. Song was lamenting it yesterday.
Why does so much
disaster befall our nation and people?
I don't understand.
Sir,
can we issue war bonds
like the United States?
Then our country will become stronger
and we won't be afraid of wars.
Sure.
Can you tell the government
to invite some
influential figures to promote it for us?
But one thing is missing.
One thing is missing?
Do you know what it is?
You mean
credit?
That's right.
Without credit,
there is no finance.
Credit is the foundation of finance
and the lifeline of finance.
A nation's credit
can't be built overnight.
We are all financial enterprises.
We have a long way to go.
We beat the Japanese.
They asked me to burn some newspapers
to show you.
The Japanese have retreated!
Rong Sheng,
what's the use
of burning newspapers?
Burn some gold ingots
and ask them to buy a house down there.
A family will eventually be united.
I'm afraid they'll reincarnate first and not wait for me.
If that happens, let it be.
Just find another family.
You're still young.
Qi's father was blown to death.
His mother is still alive.
Ms. Zhou.
His mother is 60 years old.
What do you know?
Youthfulness doesn't matter
when it comes to living life together.
Wen.
Go to Genbao's liquor store
and fetch the aged liquor I ordered.
I'll treat everyone to a drink and a meal tonight.
Ms. Zhou, you're so generous.
Of course.
I'll pay for the meat.
Get more meat.
Okay.
Don't worry.
Old man.
Where do you get the money
to pay for the meat?
You haven't paid me last month's rent.
All right, don't worry.
Take your time.
No hurry.
No hurry at all.
We won, we deserve meat and wine.
Young man, don't be too sad.
Come on, let's have a meal together.
Come to my house for dinner tonight.
Take your time. Return my basket later.
[Long live victory!]
[Long live victory!]
[Long live the 19th Route Army]
We're resuming operation!
Wishing us prosperity and good luck!
Get your newspaper here!
The war between China and Japan has ended.
The League of Nations
ruled in favor of China.
Get your newspaper here!
The war between China and Japan has ended
The League of Nations
ruled in favor of China.
The League of Nations
ruled in favor of China.
Shameless and ridiculous.
No Chinese garrison is allowed in Shanghai?
What kind of agreement is this?
We won the war. How did the negotiation turn out this way?
Ruolai.
What's on your mind?
Sir,
China will not die.
Although the truce agreement was humiliating,
the foreigners saw
our army's fighting spirit and courage,
and the people's determination to resist.
Yes.
After this battle,
Japan won't cause any trouble for a few years.
This has bought us
some time for steady growth.
The people traded their lives for these.
Ms. Zhou helped the army wash gauze day and night.
Support the 19th Route Army!
Support the 19th Route Army!
Get the Japanese out of here!
Long live China!
The dancers donated all their savings.
The carters risked their lives to deliver the goods.
The soldiers snuck under
armored vehicles with grenades.
When the country is in trouble,
the people can be depended upon.
Mr. Yu.
Steward Liu.
What's the meaning of this?
Sorry, Shanghai hasn't been peaceful recently.
Please excuse us, Mr. Yu.
Surely, this doesn't apply to me.
I'm sorry.
Search them.
What are you doing?
Mingquan.
Here.
Okay. Mr. Yu, this way.
Okay.
You can't go in.
Okay. You wait outside.
Mr. Yu, please come in.
Okay.
Mr. Yu.
What is Big Sister planning?
Why is she being so mysterious?
If I'm not mistaken,
it should be about the construction treasury bill.
Selling treasury bills right after the cease-fire?
Will anyone buy it?
I'm not sure about that.
She only said this as a reply,
"The people can be depended upon."
Get your newspaper here!
The Treasury Department has issued treasury bills
for the construction of post-war Shanghai.
Everyone has a responsibility to buy the treasury bills.
Madam, would you like one?
Sir.
Would you like one?
Sir.
No. Go away.
Sir.
Would you like a treasury bill?
Why would I?
I went bankrupt because I bought bonds.
Get lost!
The distribution of the construction treasury bill
is very important.
The Treasury Department
has assigned the main distribution mission to us.
Eight million.
The deadline is one month.
Eight million?
Sir.
The economy hasn't recovered after the war.
Even 80,000 is a challenge.
Not necessarily.
The people united and fought for the victory.
The common folks
have regained some confidence in the government.
That's only temporary.
The news about the treasury bills has long been out.
Everyone treats it as a joke.
Since the end of the Qing Dynasty,
the city governance keeps changing.
No treasury bills ever made it to redemption.
Everyone knows
it's a money-robbing gimmick.
It's not a money-robbing gimmick.
The Kuomintang is not a warlord.
The Central Bank must be trustworthy.
This time,
we must lead by example.
Yes.
Yes.
Congyun.
Yes.
[Construction treasury bills Central Bank fundraising meeting]
Chief Deng.
-Tunan. -Thank you.
Everyone, it's all up to you today.
Buy more.
Okay.
Please.
Please.
Everyone,
first of all, thank you for coming.
The treasury bills this time round
are not war bonds.
[Central Bank]
The purpose
is to raise more funds
to rebuild Shanghai after the war.
Nice!
But I want to emphasize one thing.
The treasury bills this time
is mortgaged by tariff taxes.
As we all know,
the tariff management right belongs to the Central Bank.
Since we have tariffs as collateral
and the Central Bank's support,
you can be assured that the treasury bills
can be cashed out this time.
The Treasury Department's treasury bills
are a sincere effort to
develop the industries
and restore Shanghai.
We want to bring more benefits
to the people in Shanghai.
So, I'll be the first one
to buy 100,000 yuan worth of bills.
Nice!
Everyone is responsible for rebuilding Shanghai.
I will buy
20,000.
Nice!
Everyone.
Everyone is responsible for the rise and fall of the country.
For Shanghai, I'll buy 200,000.
I'll buy 20,000.
Why aren't you buying any?
Must everyone take part in the purchase?
No.
Then I'd rather wait and see.
No one's money comes easily.
Right?
That's fair.
Today's fundraising
went very well.
Tunan, you're taking the initiative
to guide us in the capital market.
Chairman Chiang is very pleased after reading the report.
Thank you for your approval.
The January 28 incident
has given the public great confidence.
I'll keep up the good work.
But the launch of the treasury bills
has met considerable resistance.
Mr. Song.
To distribute the treasury bills successfully,
I think two things are crucial.
One is stability, and the other is credibility.
Moving on,
I plan to contact the major banks to control
the issuance of treasury bills, led by the Central Bank.
This way,
we can stop retail investors from
buying low and selling high
and stabilize the price of the treasury bills.
Only when the Central Bank is in charge
can the funds collected from the treasury bills
really flow into industrial fields.
If the industry is strong, the country will be strong.
This
is also the purpose of the chairman's financial management.
This is a tough battle, Tunan.
You've been working on this for years.
The opportunity to grow is here.
Just do it.
Don't worry, Mr. Song. I will.
[Central Bank unites major banks in joint venture]
We haven't even put out the lure
and Shen Tunan is already eagerly entering the trap.
Big Sister was right.
Shen Tunan
is talented but lacks foresight.
He only sees
the strength of his bank.
He doesn't know that
there are far more powerful people out there.
This trap
is customized for him.
Although Shen Tunan is in the light
and we're in the dark,
he's a skilled player in the financial field.
He has his tricks.
We mustn't underestimate our enemy.
Previously,
they were playing tricks.
Now that Big Sister is supporting us,
what else can they do?
They can't do much now.
What?
You have no confidence in me, Mr. Kang?
I don't lack confidence.
I'm just afraid that overdoing it
will arouse public resentment.
After all,
we need the people to stabilize our country.
There will be resentment.
But Shen Tunan will be taking the blame.
What does it have to do with us?
When the Qing Dynasty was destroyed,
the descendants of Sheng Xuanhuai
continued to live
luxurious lives.
Times were hectic during the Xi Jin dynasty.
But in the end,
those who were capable
continued to be affluent for generations.
Whether the nation lives or die
has nothing to do with us.
Mr. Yu, you're right.
Iโll join you
in this game.
Has the price increased again?
It increased again.
It's still increasing.
Who's buying the treasury bills?
Did you buy them?
No. No.
How about you?
Me neither.
Then why is the price increasing?
You're right.
What's going on?
The treasury bills' value keeps increasing.
It's gone up so fast right after the opening bell.
I've never seen any bills rise so high.
Check again.
Mr. Liu.
Mr. Liu.
Coming.
Mr. Liu.
I want to buy construction treasury bills.
30,000.
No.
50,000!
50,000! Write it down!
Don't worry. Take your time.
Don't worry.
It's almost time.
Ruolai.
Inform the presidents of various banks
to be here this afternoon
to lock down the prices.
If anyone dares to be absent, write them down.
We'll settle the scores with them in the future.
Yes.
President Wang.
You must be here this afternoon.
No matter how busy you are, you have to be here.
Yes. These are the Central Bank's instructions.
President Li.
Don't worry.
The Central Bank will
deal with the bad debt you have.
We won't delay any longer.
Okay?
Don't worry.
Consider this another warning.
Stop bargaining with the Central Bank.
[Li Anrong]
I gathered everyone here today
to unite together and control the
price of the construction treasury bills.
I must emphasize two things.
First, this must be strictly confidential.
Second, operation orders are like military orders.
If anyone disobeys,
I promise your bank will disappear from Shanghai.
Why must we do as he said?
How can we make money this way?
He even threatened to erase our banks from Shanghai.
Who does he think he is?
What a joke!
In Shanghai,
we are all influential individuals.
He doesn't know his place.
Does he take us for fools?
Who made him the boss?
Who cares what he said?
The Treasury Department mortgaged the treasury bills to us
at 50 per bill.
If we play the game right, we can earn a lot.
We can't afford to play this game.
No matter what they do,
the price of the treasure bills cannot be maintained at 70.
Sooner or later, it will fall back.
Even if we sell at 60 yuan,
we can still get a 10 yuan profit per bill.
It's against the rules.
The Treasury Department clearly states that
treasury bills cannot be sold
directly in the trading firm.
Why are you afraid of buying back at 50?
Given the state of the government,
I would be grateful
if it's even worth 30 yuan in the end.
That's right.
Don't worry.
Don't worry.
I have an informant in the Treasury Department.
If there is any news,
I'll inform you immediately.
But this is an illegal move.
You're earning
risky money.
As the old saying goes,
if you won't take the opportunity,
you must take the blame.
Even the Treasury Department can do this.
Why can't we?
Don't be too greedy.
We'll sell it at 60
and buy back when it falls to 50.
The higher-ups get the lion's share,
but we get our small profits too.
Haven't we
been doing this for decades?
Yes.
That's right.
We're the financial sector,
not a charity place.
Understand?
Let's do it.
Mr. Yu!
Mr. Yu.
Whatโs wrong?
Done.
Really?
Really.
These old players
can't resist the temptation of huge profits.
It's called being too clever to be wise.
They said
they would take turns selling it starting tomorrow
to test the water first.
We'll buy as many as they sell.
Okay.
We need to maintain the price of the treasury bills.
This is for the country.
Yes.
Maybe in the future,
the Treasury Department will give us a medal.
Really?
Mr. Yu, you are brilliant.
Ms. Zhou, you cooked too much.
It's enough, Ms. Zhou.
It's too much.
Too much.
We can't finish them.
Ms. Zhou, this is such a luxurious spread.
Wei.
We were waiting for you.
Why are you here?
They are Wen's friends. I called them here.
Ms. Zhou.
What's the occasion?
Ms. Zhou is rich now.
I went to buy the treasury bills today.
I bought them from your bank.
I spent 100 yuan
and got 2 bills.
Guess how much I earned.
Thirty.
He's from the bank.
Of course he knows.
Congratulations, Ms. Zhou.
Come on.
Thank you, Ms. Zhou.
Thank you, Ms. Zhou.
Thank you, Ms. Zhou.
Eat up.
There's more at the back.
Newspaper.
This is today's newspaper. Read it.
See if there's any news.
He's reading the newspaper.
The director of the Treasury Department's government bond sector
personally sent a telegram from Nanjing
to invest 500,000 in more construction treasury bill.
What does that mean?
It means the bills' value is expected to rise.
Expected to rise.
I hear the staff in the Central Bank
bought hundreds of thousands of treasury bills.
Is it true?
Yes. Is it true?
We did hold a fundraising meeting yesterday.
I also bought some.
Wei, one of my socialite passengers
told me today
that the government is preparing
to issue a medal of honor to citizens
who invested in the construction treasury bills.
-I heard about it too. -Really?
I bought some bills. They should give me a medal.
Of course. You bought some.
Keep reading. What else is there?
Hurry, keep reading.
Shanghai Banking Association raised 1.5 million yuan
to purchase the construction treasury bills.
Mr. Gong of the Treasury Department personally published an article,
calling on all sectors of society to actively participate
in the financial reinvestment of the nation's industries.
It's a good thing.
Do you think we should buy some bills too?
Yeah.
We all contributed to the country.
Calm down.
Calm down.
Wei,
do you have any internal information?
Yeah, Wei, tell us.
Yes.
But I can't tell you the details.
Tell us.
-What canโt you say? -Wei.
Don't talk.
Just nod or shake your head.
Come on. That's right.
Should we buy more bills?
Yeah, that's right.
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