Chongzhen revived the Ming Dynasty

"Congratulations, Shopkeeper Guo!"

"From today on, Manager Guo will be the new millionaire, with a fortune of millions!"

Liu Qingquan and other people in the pickle industry surrounded Guo Danian and congratulated him.

Liubiju went public today, with the same share price of one yuan per share and a total share capital of 20,000.

One quarter of the shares sold were eventually sold for nearly 6,000 yuan, with an average price of 1.2 yuan.

Based on this calculation, the total assets of 20,000 shares would swell to 24,000 yuan.

Guo Danian, who owns 7,000 shares, has assets in Liubiju alone of 8,400 yuan. Adding other assets, he is undoubtedly a millionaire and can pay property tax.

After the property tax was levied last year, whether or not one is eligible to pay the property tax quickly became the dividing line between the rich and the wealthy.

Of course, Zhu Youjian played an integral role in promoting this, and regarded the amount of property tax paid as a display of financial strength.

He also proposed the term "ten thousand yuan household", which quickly replaced the original "ten thousand yuan family wealth" and became the new name for wealthy families after being spread in newspapers.

In addition, due to the division of seats for members of parliament into the wealthy, the property holders and the poor, some wealthy people who aspire to become members of parliament even take the initiative to pay taxes to the tax authorities in order to have a good reputation so that they can run for parliament in the future.

Zhu Youjian, who knew what they were asking for, even asked financial newspapers to publish a special ranking of taxpayers and arranged for reporters to interview them and publicize people with virtue.

This further stimulated the tax-paying enthusiasm of some wealthy people and made the collection of property tax smoother.

Although many wealthy people still want to evade taxes, families with tens of thousands of dollars in wealth are very active in paying taxes. Many of these people need to become famous and use their fame to gain benefits.

Guo Danian is one of them, and he is very happy that he is eligible to pay property tax.

In the past, he wouldn't even dare to think about it. The entire Liubiju's assets might not even reach 10,000 yuan.

Thinking about how he had initially only wanted to set the number of shares of Liubiju at 10,000, Guo Danian was very glad that he had listened to the advice of the stock exchange and finally set the total share capital at 20,000.

The current rise in stock prices has proven the foresight of this approach. Guo Danian, who was so happy that he couldn't stop smiling, bowed to the people around him and said:

"Today's matter is thanks to your kindness."

"We're going to Zhuangyuanlou later, and we won't leave until we're drunk."

The people around applauded and said they would definitely go.

The surge in Liubiju's stock price is not only due to people's optimism about the pickle business becoming the second salt industry, but also because they are all lifted up together.

As the first stock in the pickle industry, the owners of these pickle shops bought hundreds of shares if they had more money, and dozens of shares if they had less money. Naturally, the number of stocks circulating on the exchange decreased.

Seeing this, those who want to buy shares in Liubiju will of course raise the price. Otherwise, they will not be able to buy shares, and will be considered incompetent when they return.

This was the case with Shen Tingfang. He did not expect that he would spend 5,000 taels of silver but would not even get 20% of the shares. In the end, the shares he got were only close to 20%.

Thinking about how he had taken five thousand taels of silver a year ago and almost thought he could buy Liubiju, he felt uncomfortable and curious:

What magic did the stock exchange use to make the value of Liubiju increase several times in such a short period of time?
Mao Pijiang, who came from the Metal Exchange, was also curious and shocked.

After receiving the task from his father to keep an eye on the gold price, he went to the metal exchange almost every ten days last year. He rushed there as soon as the exchange opened this year.

He happened to come across a ceremony at the stock exchange, so he went to join in the fun.

Unexpectedly, I witnessed eight stocks soaring, much faster than the price of gold:
"Liubiju, which had the lowest increase, has increased by 20% compared to its opening price."

"This is much faster than the rise in gold. How did the stock exchange do it?"

A 20% change in the exchange rate between silver dollars and copper coins was considered a significant market trend. In the following months, the change was no more than half a percentage point at most.

As for the price of gold, it changes even more slowly because it takes a long time for the influx of silver from Japan to impact the gold-silver exchange rate in the Ming Dynasty.

This made Mao Pijiang look at the stocks on the stock exchange and wonder if his father's focus on the gold-silver price ratio was a mistake. It would obviously be more profitable to invest his money in the stock exchange.

He decided that when he got back he must tell his father what he saw today and ask his father to invest some money to buy stocks on the stock exchange.

Many regular visitors to metal exchanges also made the same decision.

Being very sensitive to price fluctuations, they soon realized that the fluctuations of stocks on the stock exchange were much greater than those of metal prices. For them who had figured out some tricks, this was a profit margin.

Therefore, those who had funds quickly chose to open an account at the stock exchange and buy a few stocks to try out.

This allowed the prices of the eight stocks to continue to rise and almost never come down.

Wang Chengen, who was watching the stock quotes at the exchange, nodded with satisfaction.

Today, he led the elite troops of Shuntian Bank to come here not only to provide support for the exchange's transactions, but also to stabilize the stock price under the order of the emperor.

In any case, the eight stocks must not fall below the opening price, and they must all rise as an example for listed companies.

Because of this, the total share capital of the eight stocks has been strictly calculated, so that shareholders will not suffer losses, nor can the price be too cheap.

Now it seems that they are still a bit conservative. Even if the opening price increases by 20%, it will not fall below the opening price.

This made Wang Chengen feel that it was necessary to set up a special securities company to be responsible for securities business.

While thinking about this, he received a message from Tu Wenfu that it was his turn to issue two bonds.
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The function of a stock exchange is not only to trade stocks, but also to issue bonds. Zhu Youjian even valued it more and planned to issue government bonds when conditions were ripe.

The first to be issued is the Beijing-Tianjin Railway Bonds launched by Taipusi, which are bonds issued in the name of Taipusi Railway Group.

Chen Qiyu, the Minister of Imperial Household, stood on the high platform of the Stock Exchange and shouted:
"The Beijing-Tianjin Railway Bonds were established to build the Beijing-Tianjin Railway."

"The total amount is three hundred thousand, and the revenue from the Beijing-Tianjin Highway is used as collateral."

"You all know this road, right? It's very busy now, with many large trucks passing by every day."

"After the Beijing-Tianjin railway is built, large trucks carrying goods can run on the railway."

"In the future, it will definitely make more money than the Beijing-Tianjin Highway."

While praising the Beijing-Tianjin Railway as the second Beijing-Tianjin Highway, Chen Qiyu also mentioned the revenue from coal transportation on the Beijing-West Railway last year.

Let people know that the railway can transport a lot of goods, which is far better than the road in this respect. And it also requires fewer horses, so the cost of transportation is very low.

All that is needed is to build the railway and maintain the tracks.

Three hundred thousand yuan of railway bonds were also issued for this reason.

Chen Qiyu made full use of his eloquence to encourage people to buy railway bonds.

He needed to accomplish this and let the emperor see his abilities.

Wang Chengen watched him brag for a while, but he didn't get to the most crucial point. He coughed lightly and said loudly:
"The Beijing-Tianjin Railway bonds have a total term of five years, an annual interest rate of 3%, and a total interest rate of 15%."

“You can withdraw the principal and interest all at once after five years, or you can withdraw the interest every year.” “The bonds are bearer and can be traded on the stock exchange.”

"I assure you here that Shuntian Bank will purchase unlimited Beijing-Tianjin Railway bonds at the face value of the bonds. You don't have to worry about it being worthless."

"If you are unwilling to pay the interest and need money temporarily, you can use the bonds as collateral to borrow money from Shuntian Bank."

“The maximum loan amount can be 80%, not exceeding the bond date.”

This promise made the people at the stock exchange see light up. They realized that the so-called Beijing-Tianjin Railway Bonds were a sure-win business.

As a bank established by the royal family, Shuntian Bank could not fool people on such a matter. Even if the revenue of Beijing-Tianjin Railway was not as good as Chen Qiyu boasted, and it might not be able to pay the interest in the future, the railway bonds could be sold to Shuntian Bank, and it would not lose even the principal.

Not to mention that Wang Chengen also promised that if they needed money temporarily, they could use bonds as collateral for mortgage loans. This made many people even less worried and decided to pay for the bonds.

Thanks to hundreds of years of accumulation and the court's low tax rate, the private capital of the Ming Dynasty was extremely rich. Many families had hidden silver that it would take them many lifetimes to spend.

At the same time, due to the narrow investment channels, most of the people in power in these families only know how to buy fields and land.

However, after the court established a property tax and clearly stated that it would restrict land and houses, many people realized that it was not cost-effective to buy land now. Even if many places did not levy a property tax, they would definitely collect it after the establishment of a parliament in the future.

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This makes those who only know how to buy land with the money they earn, even more confused about how to keep the money.

The Beijing-Tianjin Railway Bonds provide them with an investment channel, allowing them to purchase bonds that are guaranteed to make a profit.

However, some people had doubts in their hearts, thinking that the court might be trying to trick them into handing out their money. After they made profits, they would be subject to asset taxes, and with bank transaction records, they would have no way of escaping.

So these people made up their minds that the money they took out could not exceed 10,000 taels. The rest of the money in the house had to be hidden in the cellar.

Under such circumstances, although the Beijing-Tianjin Railway bonds were popular, they did not sell well. Many wealthy families only bought them in batches of 1,000 or 2,000 yuan and were unwilling to pay more.

Chen Qiuyu was somewhat disappointed, but he could only watch the exchange staff record it, hoping to sell the 300,000 yuan worth of bonds in the next month.

Wang Chengen watched this scene and was secretly worried because if the Beijing-Tianjin Railway bonds could not be sold out, Shuntian Bank would be responsible for the bottom line.

Compared to bonds that could only earn three points of interest a year, he still preferred lending. Even for preferential loans like Jinshidai, the monthly interest rate was 1%.

Therefore, he worked even harder for the next bond issuance. Fortunately, this bond is more secure and most likely does not need to be backed by Shuntian Bank:
"The second bond is a government bond."

"Dongping Earl Mangui opened a fiefdom, took out a knighthood as collateral, and issued 150,000 yuan of fiefdom bonds."

"The term is also five years, and the total interest is 15 percent."

"If he can't pay it back by then, the emperor will ask him to take out 20 li of cultivated land and distribute it to those who buy the bonds."

"Or if someone is willing to donate 150,000 yuan, the emperor will confer the title of knight upon him."

"This is a special privilege given to support the founding of the Dongping Marquisate."

When these words were spoken, people at the stock exchange were in an uproar.

In the past, donations for titles were done privately, and one had to establish one's own fiefdom.

This time it was said in public, and the cultivated land was also granted.

So although 150,000 yuan is much higher than the price of 150,000 stones, no one thinks it is not worth it.

Especially since this knighthood belonged to Man Gui's Dongping Earldom, many merchants who wanted to go to the grassland to trade and establish good relations with Man Gui were immediately attracted.

Someone immediately said:
"I'll take care of the bonds of the Duke of Dongping, and I don't even need to pay interest."

"I only ask Eunuch Wang to help introduce me to the Duke of Dongping and have a discussion with him."

Wang Chengen smiled but said nothing and did not agree to this.

The fact that the emperor asked Man Gui to use a knighthood as collateral does not mean that he would really sell it.

After all, donating the title was the emperor's power and it was impossible to delegate it to the vassal states.

The vassal states would not necessarily be happy about their fiefdoms being divided, as they would not want a large piece of it to be taken away by unfamiliar people.

This kind of bond was just a special policy given to ensure that the nobles had enough funds to establish their own fiefdoms.

Issued on the stock exchange, no matter who buys the bearer bonds, the nobles will not feel that they owe anyone a favor. No matter how many bonds are purchased, it is just an investment behavior.

If it is purchased exclusively by a few people, the nobles may feel that they owe a favor or even feel humiliated.

Wang Chengen would not do such a thing, and he did not think that anyone needed to buy out the bonds of the Marquis of Dongping.

Sure enough, compared with the Beijing-Tianjin Railway Bonds, the sales of Dongping Marquisate Bonds were much stronger than those of the Beijing-Tianjin Railway Bonds.

People clearly had more trust in Man Gui, believing that he would be able to successfully establish the vassal state and redeem these bonds.

Those businessmen who wanted to establish a relationship with Man Gui also opened their pockets.

Even if these bonds are bearer, if they come to visit with these bonds, will the Duke of Dongping still turn them away?

Almost in the blink of an eye, the bonds of the Dongping State were bought by several big businessmen for nearly 100,000 yuan. Chen Qiyu, who was standing next to him, saw this and was so depressed that he could hang a bottle of oil on his mouth:

The interest rate is the same, and his railway is built between Beijing and Tianjin, which is much better than Man Gui's railway to establish a vassal state outside the Great Wall. Why don't people come to buy it?

With this depression, Chen Qiuyu was still a little unhappy when he reported to the emperor together with Tu Wenfu, Wang Chengen, Yu Anxing and others.

Zhu Youjian was also puzzled after learning about this situation. He wondered why not many people bought the bonds worth only 300,000 yuan.

After thinking about it, he said something to Chen Qiuyu, which made Chen Qiuyu smile immediately and knew how to sell bonds.

The next day, while reporting on the grand opening of the stock exchange, the Financial News and other newspapers mentioned the Beijing-Tianjin Railway bonds, saying that it was wrong that such bonds were not well received.

A commentator loudly called in the newspaper that all maritime merchants should support the Beijing-Tianjin Railway Bonds to open up land transportation between Beijing and Tianjin and completely get rid of the canal transportation:

"The capital is only three hundred miles away from the sea."

"The construction of the Beijing-Tianjin Railway is the key to opening up these 300 miles."

"All maritime merchants engaged in shipping must take action."

Mobilize maritime merchants to purchase Beijing-Tianjin Railway bonds to support the construction of this railway.

Otherwise, if we rely on water transport, problems may arise in the future.

In order to obtain a larger share of the imperial grain in the future, maritime merchants should take action.

This greatly touched the maritime merchants who came to Beijing to buy shares of the shipping group. Many people began to open their wallets and buy Beijing-Tianjin Railway bonds. (End of this chapter)