The Royal Railways took the measure of prohibiting the trains of the Shanxi Railway Company from running directly on their tracks.

This news instantly caused the stock price of the newly merged Shanxi Railway Company to drop by a small half, basically the same market value of the Shanxi Railway Company before the merger, and a whole Shaanxi Railway Company.

The transportation of Shaanxi and Shanxi provinces is very dependent on railways, so the two provinces are particularly concerned about railway construction. Both provinces have powerful merchant gangs, and the industrial and agricultural strength is not good, but the commercial power is strong.

The Jin merchants relied on the Zhangku Railway of the Royal Railway Company to do business with the Russians, and the Shaanxi merchants relied on the Northwest Railway to do business with Central Asia. Now the Royal Railways has torn up the agreement, with the aim of suppressing the two companies and cutting off the local rail network from its own. Prevent these companies from building their own rail networks.

Because the two provinces were too dependent on the main lines of the Royal Railways, they had to back down and sign an agreement with the Royal Railways that they would no longer build their own railway lines, but would hand over the lines connecting the railways between the two provinces to the Royal Railways.

In addition, the Royal Railways also launched other railway plans, no longer considering profitability and financial pressures, issuing large bonds and expanding aggressively.

The first is in the Northeast, because the three northeastern provinces due to the sparse population, have always been an independent political unit, set up a Liaodong Governor, Liaodong Governorate also merged the three provinces of the railway company, determined to build its own railway line, from Ningguta all the way south to Jinzhou, through Shenyang and other important towns, almost in a straight line, and negotiated with the Hebei Railway Company, hoping to connect the two railway lines.

In this regard, the Royal Railway Company, on the one hand, used its own authorization, decided to build a railway in the Northeast, on the other hand, it used its monopoly position to threaten the Hebei Railway Company, and now most of the goods in Hebei's ports to the sea are transported from Mongolia and Shanxi, and they are all on the lines of the Royal Railway Company, and the goods that can be provided in the Northeast are only some grain, Mongolian fur, Shanxi's coal, and now it is the largest commodity, and the supply of goods is cut off, which has a great impact on Hebei, and many of the goods of the Hebei Railway Company are exported to Russia through the Royal Railway CompanyAfter weighing the pros and cons, they decided to give up cooperation with the Northeast Railway, not allowing the other party's railway to access the Hebei railway network and use Hebei's ports for export.

This made the Liaodong Railway Company unable to open up the port of the province and build Dalian instead, because only the port of Dalian was an ice-free port, and the port near the mouth of the Liaohe River would be frozen every year.

The Royal Railways' southward strategy was also reopened, but instead of clashing with the Canal Company along the canal, it went inland, from Beiping (Beijing) to Xuzhou via Baoding, Zhengding (Shijiazhuang), Guide and Daming, and from Xuzhou to Nantong to Jiangning (Nanjing) via Fengyang.

Because the canal company has already obtained the power of the Jiangsu Railway Company to build railways, not bought, but leased, the Jiangsu Railway Company does not plan to build its own railway, and has become a leather bag company that collects rent, but they can't collect it for a few years, because the authorization is time-limited, the national authorization is 15 years, and the concession of the local commercial company is only 10 years.

All kinds of forces entered the field of railways, using all kinds of means to fight, before the Canal Company was stubborn and conservative, so that Zhou Lang was dissatisfied, but now it is the previous suppressed Royal Railway Company has become a person who suppresses others, and the likes and dislikes in business are transformed quickly, making people at a loss.

Zhou Lang was emotionally annoyed at first, but he soon accepted it, isn't this how business development is in the reckless period, there are no rules, and everything is done. In the end, the winner takes all, the loser is out, and the fittest survives, isn't this the essence of business?

The business era he has been promoting has come unexpectedly, but Zhou Lang is a little at a loss for a while, these bad business capital, will use their own energy, break through the bottom line of morality, in the primitive era of business, make a challenge to all kinds of traditional morality, and then under the game of various forces, begin to restrain themselves, form various norms, and finally give birth to a good business culture, this is the era that any country must experience, forcibly restricted, stifled this barbarism, It also ruined the possibility of giving birth to civilization from barbarism.

Although Zhou Lang accepted this barbaric state of fighting, and did not intend to interfere with it prematurely, he still decided to withdraw from this primitive commercial capital, who knows what angry things these people will do, his reputation cannot be used by these people, Elizabeth can fund pirates, that is the virtue of the British, he is the king of a big country, Zhou Lang is at least more faceless than the British king.

So Zhou Lang summoned the chairman of the board of directors of the Royal Railways and told them that the royal family would withdraw its shares from the railway company and withdraw the royal title, and asked them to prepare as soon as possible.

The other party's face was suddenly like ashes, and the Royal Railways Company was still able to expand vigorously in a state of loss, relying on the emperor's name, and the emperor wanted to withdraw his shares and take back the naming rights.

As an ordinary commercial company, their financial situation is almost bankrupt, and it is conceivable that once the news of the emperor's withdrawal of shares and the withdrawal of naming rights is revealed, the company's stock price will immediately plummet, the bonds will be sold off, the issuance of new bonds will be unattended, and the company will not even be able to pay interest on the debt, after which the capital chain will be broken and bankruptcy liquidation will be declared.

The chairman of the railway company immediately went back to the meeting, and the major shareholders immediately panicked, as the major shareholders, especially the major shareholders who could enter the board of directors, they could not sell their shares at will, and they had to make explanations, so they felt that their family property might go bankrupt because of the emperor's withdrawal of shares, and after three consecutive days of non-stop closed-door meetings, they made a series of decisions.

They begged the emperor to delay the withdrawal of shares for a month, and then they immediately began issuing new bonds, nominally to build new railways, but in reality to raise cash to tide over the difficulties. They issued 3 million gold taels of bonds, and even though the price of the bonds fell and the interest rose to 9%, they were still wholesaled to major financial groups without hesitation.

With 3 million gold taels in hand, they can hold on for a year in the current state of loss, and then stop a large number of high-investment construction, try to open up sources and reduce expenditure, revitalize the current assets as much as possible, and try to achieve financial balance within one year.

A month later, Zhou Lang announced the withdrawal of shares of the railway company, and canceled the royal title of the railway company, the railway company was renamed the national railway company, the stock price plummeted by more than 30% in an instant, the bonds were not cared for, and the railway bonds were sold everywhere, and it also affected the stocks and bonds of other companies, after all, compared with the national railway company, the financial situation of the provincial railway companies is only worse, not better.

For a time, a large number of railway companies fell into a crisis or even went bankrupt, dragging a large number of financial institutions holding railway company bonds into a crisis, and a financial crisis came abruptly. In fact, this is also an inevitable thing, a large number of commercial companies have been intensively opened in recent years, and the bubble in the financial market is very large, and the crisis is a matter of time.

Zhou Lang didn't expect the impact to be so big, so he immediately set out to save the market. However, bailing out the market is not a flood of money, but a policy guide and targeted relief. Even the crisis itself was an opportunity for reform, and he used it to put the financial system in order.

China's financial system has grown barbarically in recent years, and the main forms are still those three, money banks, pawnshops and emerging ticket numbers, money banks are mainly currency exchange business, pawnshops are mortgages, and ticket numbers are non-local remittance business, but the three financial institutions all hold a large number of credit securities that can be easily realized, because they have a large backlog of funds in their hands, which are simply stored in the treasury, which is very wasteful, and the interest on stocks and bonds is an additional income. However, when they encounter a financial crisis, they bear the brunt of it, especially since the funds invested in stocks and bonds are not their own, most of them are customers' funds, and they will become insolvent immediately.

What is the difference between money banks, pawnshops, and ticket numbers and Western banks? In fact, there is no essential difference, Western banks have more financial means, but they are nothing more than currency exchange, loans and exchange business, but they are stricter in terms of risk control, which is the most essential difference. Moreover, since some French-run banks have already appeared in the Jiangnan area, China's local financial institutions have also begun to carry out a large number of deposit business, whether it is money banks, pawnshops, or ticket numbers, they have all withdrawn from the paid deposit business and competed with French banks for private funds.

It can be said that the difference in essence is very small, but due to the lack of risk awareness, the expansion of China's financial institutions is even more blind, and if a capital of one or two thousand yuan opens a bank, they dare to issue hundreds of thousands of taels of banknotes, regardless of their own scale, they can do as much business as they can. When the economy is good, they expand very quickly, and when the economy is in crisis, they go bankrupt quickly.

The public bank managed by Wu Bingjian has always been the central bank that manages these financial institutions, and Zhou Lang found him and proposed several principles to him, that the public bank can liquidate and remedy the bankrupt institutions, let him go bankrupt and liquidate, withdraw the license, and give subsidies to the large and well-run enterprises to let them continue to operate. At the same time, let them negotiate a risk control standard, and the public bank will conduct regular audit and supervision, so that they can not grow savagely.

The state's support for the public banks is to allow them to overissue large amounts of banknotes, stop the payment of gold if necessary, and resume the exchange with gold after the crisis.

The significance of the financial crisis for financial institutions is that it is not a big deal to promote their growth, and there is no need to be too afraid.

Under the stable and strong measures of the public bank, although the market is depressed, it has not lost control, and it may be healthier after the orderly and slow recovery, and after squeezing out the bubble.

At a time when China's railroad issue caused an economic crisis, the huge fleet led by the crown prince also arrived in the Americas and began to control the rich overseas territory of the Americas.