Seeing this result, Ferdinand didn't know whether to cry or laugh!

This edition of the History of the Origins of the Nation was conceived primarily to promote the integration of the various ethnic groups in Bulgaria.

Unexpectedly, to a certain extent, it also helped Austria-Hungary and Russia, compared to Bulgaria, their domestic national contradictions are more serious!

The majority ethnic group of the Austro-Hungarian Empire was less than thirty percent; The Russian Empire is no better, dangling on the edge of forty percent, and both countries need a theory for promoting national integration!

The version of the history of the origin of the nation concocted by Ferdinand just met this condition, so it was directly used by them, and only God knows if it has any effect!

Anyway, Ferdinand was not optimistic about them, and with the executive ability of the bureaucrats of the Austro-Hungarian and Russian empires, it is tantamount to a fool's dream to instill this set of inbred theories!

If we can't unify the spoken and written language, even if you say that the sky is rotten, the estrangement between them will not be eliminated. People will ask, why is there such a big gap in our cultural heritage?

After the outbreak of nationalism in the future, it is still necessary to do what it should be!

……

The economic crisis for Bulgaria: "An immediate crisis, but also an opportunity!" ”

Although the economic crisis has temporarily interrupted Bulgaria's economic development, the value of industries around the world is now depreciating, and many things that Bulgaria could not afford to buy can now be bought at low prices.

For example, Ferdinand had his eye on a struggling English shipyard with an offer of £1.5 million. It's still an expression of buying if you love to buy and don't buy it, and now 500,000 pounds is a high price, and it's still depreciating!

The major countries of the capitalist world are now overcapacity, and the capitalists who are usually bullish and coaxing, everyone is not having a good time at this time.

First it suffered heavy losses in the stock market, and then faced brutal market competition. The more you produce, the more you lose, the more you lose, the products can't be sold, the bank loans stop again, and everyone has to sell them at a lower price in order to get back the funds!

You will also descend, he will descend even harder, vicious competition began a cycle, one factory after another went bankrupt because of this, and was sent to the auction table by the bank!

Ferdinand, who had been prepared for a long time, is of course going to buy and buy now!

……

"Your Majesty, this is the procurement list delineated by the Ministry of Industry, please take a look!" The Minister of Industry said, and presented a thin procurement plan

Ferdinand took it and glanced at it, although the content was small, but this time the Ministry of Industry had a lot of appetite, covering almost the entire industrial system.

Including metallurgy, electric power, fuel, chemical industry, shipbuilding, machinery manufacturing, transportation, ...... Combined with the already existing industries in Bulgaria, the industrial system at the end of the 19th century was basically complete.

It is planned to acquire 148 factories, and the total amount of funds involved is as high as 1.5 billion leva, about 60 million pounds, which is almost catching up with Gengzi's compensation!

This is still the price in the economic crisis, and Ferdinand is sure that if this is in the economic boom, even if it increases by four or five times, this figure may not be able to be achieved!

No wonder the Chancellor of the Exchequer looked at him wrongly, it was clear that the government could not come up with the money. And even if you buy all these factories back, it's a problem to get them running!

It's not a human problem, it's a time of economic crisis, the unemployed are everywhere, and it's still very simple to poach people.

The question is, how to keep these factories alive once they are up and running! There must be a market for the product, right?

For example, the two 30,000-ton docks and the three 20,000-ton docks in this plan seem to be very good, but Ferdinand is sure that after they are established, half of them will survive, and they will all break the record!

Another example is this steel plan, after the completion of the theory, Bulgaria can reach an annual output of 3 million tons of steel, Ferdinand is very skeptical, who can the steel be sold to at that time?

……

Anyway, this series of acquisition plans are very aggressive! Ferdinand was a little skeptical, who was the traverser?

Did everyone know that the Russo-Japanese War would break out in 1904 so that the Russians could become volunteers? It's not right, even the Russo-Japanese War can't help consume so much production capacity!

The Russians also have industry, and even if they want to purchase from abroad, they only have to buy part of it, and they still have to face competition from European countries.

Besides, the Russo-Japanese War ended in a few years, so who should it be sold to? Ferdinand didn't think that Bulgaria could develop so fast, and in just a few years, he would be able to consume this part of his production capacity!

Even though he was full of doubts, Ferdinand patiently asked, "Can the Ministry of Industry explain this plan?" ”

The Minister of Industry said with some embarrassment: "Your Majesty has a rare opportunity! Now such industrial equipment is the price of cabbage, if you miss this opportunity, you will ......"

Before the Secretary of State for Industry could finish speaking, Chancellor of the Exchequer Kennedy interrupted him: "But the problem is, even if it is the price of cabbage, we can't afford it!" ”

The argument is powerful, so powerful that none of them can refute it. The Bulgarian government has just completed the Great Migration, and now it is still in debt, and it is impossible to come up with this huge amount of money!

With 4.26 million people brought back and 2.67 million sent away, the Bulgarian government has completed the relocation of 6.73 million people in just three years. Even if each of them costs 1,000,000 leva, this is a huge sum of 673 million leva, and the actual cost will only be greater!

Coupled with the construction of the country, the Bulgarian government's debt has snowballed, and now it has reached a peak of 2.6 billion leva!

Ferdinand also knew that the Bulgarian government could no longer borrow large, and this figure was almost four times the revenue.

It is the beginning of the 20th century, not yet the 21st century, and the four-fold debt ratio has not crushed the Bulgarian government, which is already considered a record-breaking, and if it continues to increase, Greece will be a lesson from the past!

Ferdinand asked: "How much money can the government finance now draw without affecting domestic construction?" ”

Chancellor of the Exchequer Kennedy thought for a while and said: "Up to 700 million leva, including 500 million leva of emergency funds raised later!"

Considering the actual situation, after the purchase of these industrial equipment, it must be put into production, and we must leave at least 300 million funds for the later construction of supporting facilities! ”

Kennedy's words poured the ambition of the Secretary of Industry into the cold, "What is a penny to beat a hero?" ”

Now this gap is not eight million, and the government will squeeze it out. There is a funding gap of more than 100 million leva, even if the Bulgarian government really smashes the pot and sells iron, it can't make it up!

"What can I do? Your Majesty, our big industrial plan is at a critical moment, and we can't stop now! ”

Looking at the performance of the Minister of Industry, Ferdinand knew that the idealism of these guys had been committed again, so he simply ignored them!

In order to develop industry more efficiently and reasonably, many officials in the Ministry of Industry are concurrently engineers.

On the one hand, people are engaged in industrial construction, and on the other hand, they are also responsible for overall planning, so of course political acumen can no longer be demanded!

Ferdinand had seen this idealized scheme many times, but seeing that they had done a really good job in industrial construction, he put up with it.

Idealization is idealization, it is better than changing to a group of bureaucrats and tossing blindly for the sake of face engineering! Ferdinand said that as long as he can complete the tasks he has set, he will not pursue the details, who is called Bulgaria short of talents?

Ferdinand comforted: "Don't worry too much, you can think of a solution." Considering the actual situation, we will first carry out this plan and reduce the production capacity, so that the funding gap is not so large!

In addition, like the later construction of supporting facilities, we can also think of a way, considering that our industry is about to skyrocket, then put a batch of currency on the market, the market can also be digested, and the funding gap is almost blocked! ”

Well, the solution that Ferdinand finally came up with was to print money. Anyway, he just made a fortune, and now the gold is still in the vault.

In the era of the gold standard, it is not nonsense that gold can be used to print money. With the rapid development of Bulgaria's economy, the demand for currency has also increased significantly.

Just like the British Empire in history, there were still a bunch of fiscal deficits during this period, but after the Anglo-Boer War, with the gold obtained from South Africa, it quickly came out of the deficit, and the financial supremacy of the British pound became more consolidated!

Moreover, Ferdinand also knew that the use of issuing currency to solve financial crises was also the most common means used by countries in later generations. Even the revenues of some countries from the issuance of currency exceed half of their fiscal revenues.

Everyone has no objection, this is not their specialty, as long as the Ministry of Finance thinks it is okay, then it will do!

Of course, Kennedy will not object, you must know that the previous additional issuance of currency, the Ministry of Finance has made a lot of profits, but because of the economic crisis, this part of the proceeds has been invested in infrastructure construction!

As for how much currency to issue and how much gold is needed as reserves, Ferdinand didn't even ask, Bulgaria's original reserves plus his private treasury, the total amount of gold is more than 600 tons!

This figure is already more than half of the Russians' wealth, and the total amount of leva issued on the market is estimated to be less than one-tenth of the total amount of rubles!

In the end, Ferdinand still cut a lot of the capacity of the big industrial plan, but the project was retained, after all, it was of great significance to build a complete industrial system.

For example, the steel plan has dropped from the original annual output of 3 million tons of steel to 1 million tons; Another example is the large dock, which was also cut in half, and only two 20,000-ton docks and three 10,000-ton docks were retained.

These were all decisions made by Ferdinand in light of the actual situation.

The railway project in Bulgaria will not stop in the next ten years, and it will require a lot of steel.

Ten years later, the Bulgarian domestic market has also grown, and the steel production capacity can be easily digested.

The same is true for ships, these production capacities can still be digested in the market, and they will be increased in the future, and now the main purpose is to accumulate shipbuilding technology and prepare for the construction of warships.

As for the giant dockyard of 350,000 tons, Ferdinand said that it was flashy. If the great powers want Pan Science and Technology Tree, they can naturally do it, forget about Bulgaria, and now honestly follow them to learn!