As soon as the Bulgarian shore defense battleship was born, it was favored by the Admiralty, and an order for five ships was placed in one go, but unfortunately it was directly rejected here by Ferdinand!

Just kidding, the era of dreadnoughts is coming soon! Although the performance of this coastal defense battleship is good, and the combat effectiveness of the old battleship is on par, in addition to escaping against the dreadnought, the decisive battle is basically to deliver food!

Theoretically, if there were five or six, they could still compete with one dreadnought, and of course Ferdinand wouldn't do that as long as he wasn't stupid!

A decisive battle between a shore-defense battleship and a dreadnought is not only surprisingly expensive, but it is also equivalent to joking with the lives of naval officers and men!

In fact, now Ferdinand has decided not to continue to build new warships, except for small warships! He planned to wait for the British dreadnoughts to come out and wait and see before deciding whether to go any further.

Now that the British have not joined the Entente, this is the time when the French need allies the most, and now ask the French for help, they will not refuse, especially to increase their military strength!

Now the strength of the German-Austrian-Italian Triple Alliance, compared with France and Russia, the two sides can be described as half a catty, but the woolly bear ran to the Far East without doing his job to fight the Japanese, and the pressure of the French on the European continent can be imagined!

Historically, the naval industry of the Russians was only able to overcome the technical difficulties of dreadnoughts with the help of the French, and Ferdinand did not mind learning it!

Although Bulgaria is still a land power, the navy is also an indispensable part of Ferdinand's strategy for long-term planning!

Even if it can't compete with the major powers, it must be second only to the previous ones, and it can protect Bulgaria's overseas business investment, and it can't always be covered by alliances, right?

First the Pro-Russian Alliance, and then the "Triple Entente", you can't always follow the allies' butts all the time, right? After a long time, does Bulgaria still want international status?

……

Time flew by, and in a flash it was 1907, when the Russo-Japanese War had come to an end.

Both the Japanese and the Russians are exhausted, and due to the use of new weapons, both sides are spending much more on their military than in the same period of history!

Since both sides could not stand it anymore, of course it was time to negotiate, and the British and French behaved aggressively.

The French needed the Russians to share the pressure on the European continent; And the British put aside the strategic point of view, they are afraid that if it continues, the Japanese will really not be able to pay their debts!

In the original time and space, after the Russo-Japanese War, the Japanese government's foreign debt reached 2.4 billion yen (about 245.76 million pounds, 1 yen = 0.75 grams of gold), and now their debt to the British alone is as high as 360 million pounds, and the money owed to the Americans is also 90 million pounds!

The total debt of the Japanese government is now as high as nearly 500 million pounds, and now the Japanese government has to pay more than 80 million pounds every year just to pay interest!

There is no way, whoever let the Japanese borrow during the war is an international usury, and the interest rate will of course be high, and the consortium will not care if you can afford it or not!

Not to mention the Japanese government, even the British government can't afford such a high interest rate! Can the Japanese government's revenues afford to pay the interest now?

Ferdinand said that he was very worried about the Japanese, because because of his butterfly effect, the Japanese almost doubled their military spending, and more than tripled their interest expenses!

After Ferdinand lit the fire of the bonds, the consortia in London found that the benefits of using the bonds to rob were higher than the use of loans, and the bonds could also be sold to individuals to facilitate the transfer of risk, so the Japanese suffered!

The interest-free loans and low-interest loans in history are all gone, and all that remains are usury debts, in an old saying in the East, that is: "nine out of thirteen"!

No, this will not be able to get a nine-fold discount, not even an eight-fold discount, but the thirteenth return seems to be coming!

It wasn't until the later stage that the consortium suddenly found out that it seemed to be playing high, and the Japanese government seemed to have no ability to repay, so it took it!

This frightened the London government, they were the guarantors of the bonds, and if the Japanese could not pay the money, the British people who bought the bonds would have to ask them for money!

As for the consortium, of course, it was the same as Ferdinand, and after sensing the danger, the golden cicada came out of its shell?

The bonds have been sold to individuals in advance, and anyway, there is a guarantee from the London government, and it is enough for everyone to blow each other in business again and fool the people!

Thanks to the joint efforts of everyone, the negotiations between Japan and Russia officially began in Shanghai on February 12, 1907, and as far as Ferdinand knew, the negotiations reached an impasse from the beginning.

The Japanese also expected to receive war reparations from the Russians to pay off their foreign debts.

It's a pity that after the victory of their navy, the performance of the army can only be said to be decent, in order to take Port Arthur, under the cover of naval guns, the number of army casualties still exceeded 100,000!

Later, the Japanese launched the Battle of Liaoyang, and the result was even worse, the woolly bear that had been relieved was not so easy to deal with, and the Japanese Army used its strength to eat, and the two sides were tied! Japan and Russia each suffered more than 100,000 casualties, and finally ended up losing both!

The Russians are not the masters who are not only beaten but do not fight back, and fight back at every opportunity. It's a pity that the Russians are not very capable of the commanders in the Far East, and they have missed the fighters several times!

Many pre-planned plans always dropped the chain at the last moment, but instead allowed the Japanese army to find an opportunity to catch them off guard!

After more than three years of fighting and killing in this way, the casualties of both Japan and Russia are in the hundreds of thousands, but the Japanese and Russian armies still have not decided the winner!

With the personality of a hairy bear, what you can't get on the battlefield, don't even think about it at the negotiating table! Anyway, the tsarist government thinks that now the Japanese have run out of oil and run out of lamps, so if they don't accept it, just do it!

In fact, this is indeed the case, and the Japanese standing army is only more than 300,000? Now the number of casualties on the battlefield in the Far East is suddenly 500,000, and the number of mobilized people in the country has long exceeded 1 million, but victory is still far away!

The Japanese were uncomfortable, and neither were the Russians. The Japanese government is heavily indebted, so how much better can the Russian government be?

Everyone is borrowing money to fight the war, and the French are willing to lend money to the Russians to expand their armaments, but it does not mean that they are willing to support the Russian Far East strategy, and the other people are now urging them to return to the European continent?

How can you fight a war without money? This is a common issue facing both Japan and Russia, so the two sides have been in contact several times, but neither side can make the other compromise, and in the end it is better to maintain the status quo!

Now it's time to play a role, and under the diplomatic mediation of the British, both sides decided to take a step back, not to mention their interests, and to do it according to the pre-war "Portsmouth Peace Treaty"!

In short, it was a PK between Japan and Russia in the Far East, each with five or six hundred thousand casualties, and then it was found that the battle was fought in vain, and everything returned to square one!

In addition to winning a victory abroad, the Japanese also increased their foreign debt by more than 400 million pounds, (the 500 million foreign debt, including the previous debt) But don't think about the beautiful things that dominated the Northeast in history!

The Russians were no better, although the class contradictions in their country were eased due to Ferdinand's butterfly effect, and the internal losses caused by this revolution were much smaller, but the military losses were much greater, which could be regarded as canceling each other!

Economically, similar to the Japanese government, everyone is heavily indebted. Even better than the Japanese government, even though they have more debt, they have much less interest to pay!

In this regard, the French allies are still more generous than the British, which is also caused by the difference in status between the two sides! France and Russia are equal, but Britain and Japan are not on the same level!

The Far East, which the British most hoped for, appeared, and both Japan and Russia were defeated and were unable to compete for hegemony in the Far East, and the British once again became the big strategic winners!

Oh, Ferdinand's goal has also been achieved, the Japanese **** government, which he has always looked down on, was half-plucked by him this time.

Even if the casualties are counted, even if they are doubled, it is estimated that they will not feel distressed!

However, the Japanese government was on the verge of collapse due to military spending. With the current fiscal revenue of the Japanese government, there is only one way to repay foreign debts, and that is to borrow new debts to repay old debts!

When it will be paid off, Ferdinand does not know, maybe after the First World War, maybe later, but don't think about it if they want to have such a transcendent status in history!

Strategically, although the Japanese succeeded in smashing the Russian Far East strategy, the strategic goal of dominating the Northeast is now impossible to achieve, and even they have no strength to suppress the Manchus now!

Anyway, the market they want is gone, and if they want to develop industry, it will be even more difficult!

The most important thing is that the Bulgarian debt crisis no longer exists, the unsightly Black Sea Fleet is gone, and control of the Sea of Marmara is in the hands of Bulgaria!

Moreover, the Russians are now no longer able to suppress the development of Bulgaria! Although the tsarist government did not suppress the development of Bulgaria before, at that time Bulgaria was too weak, and it was still surrounded by enemies, so it was not worth their suppression!

On the side of the couch, you can't afford to snore!

If Bulgaria had the current strength before, I'm afraid the relations between Bulgaria and Russia would not be so wonderful!

But now it is different, the essence of Russian weakness has been exposed. In the face of the military pressure of Germany and Austria, the tsarist government was a little overwhelmed, and they had to win over Bulgaria to share the military pressure!

In addition to the gains at the national level, Ferdinand also had a bumper harvest in the financial markets!

He successfully took advantage of the foresight and struck the Japanese hard, and the number was in tens of millions of pounds!

Genius one second to remember the address of this site:. Mobile version reading URL: m.