Emperor Liu Hong

"That's right, we sell our national debt in peace!" Looking at the shocked Persian prince, Liu Hong said: "There is no way to sell our national debt in peace. After all, we big man in this country The domestically issued treasury bonds have not yet fully expired. If we continue to issue new treasury bonds at this time, it will affect the credit of the imperial court in the hearts of the people and give them a feeling of tearing down the east wall to make up for the west wall. Therefore, if we want to build this If you don’t have a railway, you can only find a way in rich countries like yours.”

"Made, this Han emperor is really shameless. Why do you think of a way in rich countries like ours? Isn't this forcing me to pay for your national debt!" The Prince of Persia is quite clear that the national debt of the Han is absolutely sold to them. Not much, and in the end he had to find a way to get around.

Looking at Liu Hong's smiling face, the Prince of Persia gritted his teeth in hatred.But there was no way, for the sake of that railway, in order to be able to borrow the power of the big man, he could only endure it.Unlike the Prince of Persia, the ministers of civil and military affairs in the hall all showed such an appearance as expected, sitting on the sidelines and watching the show.

How could Prince of Persia's careful thinking be hidden from Liu Hong's eyes. In order to deal with him better in the future, Liu Hong began to talk to him about the benefits of those national debts, "Prince of Persia, we big guys are selling national debts to you , is actually a matter of two interests. You know, our national debt will pay high interest, and those who buy it will definitely make a profit. And it doesn’t matter even if you are in a hurry, anyway, our Dahan Royal Bank There is also a branch in Anxi, and they can go directly to the branch to exchange cash, but there is no interest.”

After hearing Liu Hong's words, the Prince of Persia looked a little better.After all, with these statements, he has reason to lobby others to buy the national debt of Dahan.

After the banquet is over.The Prince of Persia went back to figure out how to sell all those national debts.However, Liu Shu and Hu Zhao stayed behind to discuss the railway with Liu Hong.

"Your Majesty, your calculations are too precise. In this way, we big men can save a lot of trouble in building this railway to Anxi."

Both Liu Shu and Hu Zhao were very excited.But Liu Hong is different. He is now worrying about whether the railway is state-run or privately run.

You know, the railway currently operated by Dahan, and the railway under construction.In addition, the railway that is about to be built is all paid for by the imperial court.In this way, the railway is naturally state-owned.However, Liu Hong, who traveled from the later generations, has seen the virtues of the iron bosses of the later generations.Therefore, he is deeply worried about this state-run railway model.

"Uncle Emperor. Although the construction of this railway will save us a lot of energy. But the imperial court is not a place of management after all. It is in charge of the operation of the railway. It is a hidden danger after all!"

Liu Hong's words.Both are in favor of it, because they are very clear that these business establishments are managed by the imperial court, and over time, they will definitely become hotbeds of corruption.So, Hu Zhao asked: "Your Majesty, according to what you mean, you want to transform the railway into a shareholding system like those heavy industries?"

"It's not just the reform of the shareholding system. I want to do it more thoroughly!" Hearing Hu Zhao's question, Liu Hong said: "Let's not talk about the hidden dangers of the imperial court's operation of the railway, but the military and strategic significance of the railway line. It is also necessary to speed up the construction of the railway network..."

After hearing Liu Hong's words, Liu Shu thought that Liu Hong had slapped the Prince of Persia for a fortune, and got carried away.Therefore, he hurriedly interrupted Liu Hong and said, "Your Majesty, I also know the benefits of building railways. But building railways is really expensive. It is impossible to build large-scale construction with the little income from the treasury. Even if we recruited people's shares, it is also unlikely."

"Uncle Huang, I know this exactly, so I said that I want to reform it more thoroughly!"

"Oh, how do you say that?" Now, both Liu Shu and Hu Zhao were interested.

"As the cornerstone of the country, heavy industry is related to the stability of the country. Therefore, it must be controlled by the country. Therefore, these heavy industry companies are either controlled by the imperial court or controlled by the royal family. But this railway is different." Looking at the contemplative Liu Shu, Hu Zhao, and Liu Hong continued: "Although the railway has great military uses, as long as it can ensure wartime and those emergencies, the railway is dispatched by the imperial court. It is not important whether it is controlled by the imperial court at other times." .”

"Your Majesty, do you mean that the railway is completely privately run, so that as long as the imperial court plans the route, it can recruit private shares on a large scale and build the railway line quickly and on a large scale?"

"That's what I mean." Hearing Hu Zhao's question, Liu Hong nodded and said, "Everyone has seen the operation of the railway from Luoyang to Chang'an. Operating the railway is definitely a profitable business." As long as it is profitable, there is no need to recruit shares to build the railway. In this way, the imperial court will not only avoid the hidden dangers of operating the railway, but also use private funds to quickly complete the construction of our Dahan railway network. "

"Your Majesty, this method is good!" After listening to Liu Hong's words, Liu Shu said: "Although the income of our imperial court has improved a lot in the past two years, the investment that our imperial court needs to invest is far greater than that of the imperial court. In terms of income, if the burden of the railway can be thrown away, it will definitely be a good thing for the court."

"Your Majesty, it is good for the railways to be completely privately run. However, according to Weichen, not all railway lines can make money. Those railways that do not make money but have strategic and military significance cannot be raised." What should I do if I go to the private stock market?"

"Oh, this is also where I worry!" Hearing Hu Zhao's words, Liu Hong sighed, "Businessmen don't care whether railways have any strategic significance. In their eyes, railways are two kinds of profitable and non-profitable. Those Needless to say, those railways that make money must rush to buy shares. But those railways that do not make money but must be repaired must be ignored by no one."

"Your Majesty, you don't have to worry too much about this." After hearing Liu Hong's words, Liu Shu said: "Since those railways that don't make money have strategic value, they are naturally the responsibility of the imperial court. Therefore, railways like that are directly managed by the imperial court. Just build it. Anyway, so many railways can be saved, and the court has already saved a lot of trouble."

"Uncle Huang, your method can only be used when there is nothing else to do." Hearing Liu Wei's proposal, Liu Hong kept shaking his head, "We privately owned the railway not only to speed up the construction of the railway, but also to It is necessary to eliminate the hidden danger of the imperial court operating railways. According to the emperor's uncle, all the profitable railways are given to other people, and the imperial court alone keeps those who lose money. burden."

"Your Majesty, let's see if we can combine the profit-making railways and the money-losing railways to recruit shares. As long as we make an estimate and ensure that the bundled lines can make money, we can still recruit shares."

"Hu Shangshu, I'm afraid you can't do this!" Before Liu Hong could open his mouth, Liu Wei said, "Hu Shangshu, the cost of this railway line is too high. Even if it is a line, if you want to recruit shares, It is not an easy task, how many people can build these lines together."

When Liu Shu said this, both Hu Zhao and Liu Shu sighed, thinking about how to do it, so as to eliminate hidden dangers and repair the railway.But Liu Hong's eyes lit up after hearing Hu Zhao's words.

"It's a way to think about bundling the money-losing railway line with the profitable railway line. Anyway, businessmen only want to make money. As long as they are profitable, they will definitely operate. In order to quickly repair the railway, The imperial court can even give these railway companies some other preferential treatment. In this way, those lines that lose money will not be a problem. But the only headache is how to raise shares. After all, it is definitely not a few lines to repair together. Individuals can do it together." Liu Hong kept thinking about how to raise shares, and gradually thought of the stock market, "It would be great if there was a stock market, and with a stock market, the whole people can participate. It's a problem."

"Made, without a stock market, wouldn't I build one?" Liu Hong laughed at his slow reaction, and said, "Hu Aiqing's idea is good, as long as we combine the money-losing railway with the profitable railway, and use various Such preferential policies are attractive and will definitely attract investors.”

"But Your Majesty, how to solve this issue of share recruitment?"

"Uncle Huang, don't worry about this, let's set up a stock market and solve the problem."

"The stock market, what is the stock market?"

"Uncle Huang, Hu Aiqing, the stock market is the stock market, which is specially used to trade stocks." Knowing that the two did not understand, Liu Hong began to explain to them, "The current joint-stock companies are almost all established by acquaintances. , very limited. But with the stock market, it is different. These joint-stock companies can directly issue stocks on the stock market, and directly sell stocks to the public to raise funds.”

"Issuing stocks to the public to raise funds?" Hearing Liu Hong's words, the two people's eyes lit up, "Your Majesty, according to your statement, if such a market is really established, not only railways, but other companies will also be greatly affected. of benefit."

"Of course, I established the stock market so that it can help our big man's business." Although Liu Hong was very happy with what the two said, he didn't get carried away, because no one in this world is better than him. Knowing the "dangerousness" of this stock market, "Of course, everything has a good side and a bad side. Therefore, if we want to establish this stock market, we must have a sound management method. Otherwise, someone will definitely take advantage of the loopholes. Turn good things into bad things."

Both Liu Shu and Hu Zhao agreed with Liu Hong's words.So, the three of them began to study stock market management methods there. (To be continued..)