"Master, there are rumors outside that the railway has lost tens of millions of dollars, is there really that many?" Zhao Shu's eyes widened and he asked stupidly.

"It's not that much, but there is still an interest of 6 million yuan per year!" Wang Ningan replied.

Han Zongwu added, "Also, after five years, the principal will be returned, and at that time, tens of millions of dollars will be returned every year!" ”

Zhao Shu was really dumbfounded!

During this time, all kinds of news said good things about the railway, and Zhao Shu also felt that this thing was a good thing, with fast speed, large volume, and strong driving ability, which was much more effective than the canal.

In Zhao Shu's opinion, the best way to enrich the country and strengthen the army is to build roads, but now when he suddenly hears it, he actually has a big deficit, and he really can't accept it!

"Master, you have to solve my doubts, is there any benefit to building roads? Are there many benefits or disadvantages? ”

"Your Majesty, of course, the benefits of building roads are increased, and they can also increase the wealth of the society. Wang Ningan said very firmly.

"That? So why did the railways fall short? ”

Sima Guang stood up, "Your Majesty, let the ministers explain this matter...... After the railroad is repaired, all that is earned is the cost of freight and passenger transport, and how much income is made every year, and it is there. However, the merchants and ordinary people, through the railway to transport goods, back and forth, north and south, exchange of goods, their transaction tax is to the local finance, and a part of it is to the household department, but this money can not be directly included in the income of the railway, and the common people do not pay the railway when they increase their income, so the railway is in deficit in the accounts. ”

"Oh!"

Zhao Shu finally breathed a sigh of relief, it turned out that he didn't raise a loser...... The railway still has a huge driving effect, and it is ten times and a hundred times, but these effects cannot be directly reflected in the accounts of the railway!

"So, wouldn't it be enough to count it directly into the railway?"

"No way!" Wang Ningan shook his head resolutely, "Your Majesty, the local financial deficit is also very large now, Your Majesty still remembers Zhou Feng's case back then!" That is the problem caused by the lack of local finances, and now it is necessary to popularize education, develop industry, expropriate land, set up schools, and build bridges and pave roads...... All pointing to increased taxes! If all this money is taken away, there will be no enthusiasm for road construction in the local area, and the railway project will not be able to be pushed forward. ”

Zhao Shu is really confused, so what should I do?

"Master, do you have a good solution?"

Wang Ningan spread his hands, "The minister was about to discuss with a few people, and His Majesty let us come over." ”

Zhao Shu immediately said: "Okay, right here, be open and honest, have a good talk, I also want to hear how to solve it!" ”

Sima Guang and the others nodded together, and the first person to speak was Han Zongwu, who threw out the plan of the household department, "Your Majesty, at present, the road construction is the leader of the household department, and the Ministry of Industry and the local yamen cooperate, if the railway is completed, it will be handed over to the household department to operate, and the tax revenue of the household department will be used to fill the shortfall, maybe it will work!" ”

As soon as he finished speaking, Han Wei shook his head, "That's what your household department thinks is okay, who can agree with the other departments?" ”

Don't think it's an uncle or nephew, so I won't scare you!

Han Wei is in charge of the overall finance, which involves the balance of various departments, so naturally he can't just take care of the thoughts of the household department.

If the railroad is handed over to the household department, the construction of the railway, the operation of the railway, the purchase of tickets, and the collection of taxes are all managed internally, and then other taxes are used to fill the deficit of the railway...... Knowing how many drawbacks there are with your toes will definitely not work. Han Zongwu didn't dare to fight, even if he really gave it to the household department, the other ministries would definitely be able to tear him up.

Wang Ningan said: "Your Majesty, the operation and management of the railway, the minister thought that it was still necessary to put it forward separately, Lu Yan is still a cadre, he has made a lot of efforts to implement Juntian and build the railway, let him be responsible for the operation of the railway!" ”

"Okay, I think I can."

Although the railroad was mentioned separately, the matter of the deficit has not yet been resolved.

"The household department can squeeze out 30 million yuan a year." Han Zongwu said: "It's just that these 30 million guan have to be used to build a new railway, and the gap is not enough, and it really can't make up for the deficit!" ”

Everyone discussed for a long time, and Sima Guang suddenly spoke.

"Your Majesty, the minister has a suggestion, I don't know if I should talk about it!"

"Speak!" Zhao Shu said: "Be open and honest, don't worry!" ”

Sima Guang took a deep breath, looked at the master again, and then said slowly: "I think that the deficit of the railway is actually a temporary problem. ”

"How?"

"Your Majesty, the benefits brought by the railway are incomparable, but this benefit is long-term...... It will take twenty, or even thirty years, to fully recycle, and then there will be a profit. But our railroad bonds are five years, eight years, ten years at most! The repayment cycle is short, and the interest pressure is high, so there will be a deficit. ”

Zhao Shu was puzzled, "Sima Xianggong, why can't you extend the cycle and issue bonds for 20 or 30 years." ”

Wang Ningan shook his head with a smile, "Your Majesty, this matter will not work, the cycle of private lending is very short, even calculated in ten days, one month, more than one year, even if it is very long." The imperial court has a better reputation than the private sector, so it can issue bonds for more than 5 years, but if it is more than ten years, the businessman does not want so much money to be occupied, and the risk in the middle is too great, even if it is issued, it cannot be sold. ”

"Oh!"

Zhao Shu nodded, "Sima Xianggong, do you have a way to solve the problem?" ”

Sima Guang hesitated for a moment, "Your Majesty, the prince has explained that businessmen are reluctant to accept long-term bonds because the risk is too great, and if the risk can be reduced, they may agree." ”

"How?"

"Demutualize the railways, allow private participation in the subscription, or simply turn the bonds into shares! Let the bondholders, who become the owners of the railways, be able to enjoy the dividends, so that they will say yes! Sima Guang's voice became louder and louder, and he seemed confident, "If this is the case, fully mobilize the power of the people, and it will not be a problem for the imperial court to build more railways!" ”

Zhao Shu was so excited that he couldn't wait to agree, but when he thought that the master was still here, he habitually asked Wang Ning'an's opinion.

"Master, what do you think?"

Wang Ningan took a deep breath, "Junshi's idea is good, but the matter is big, because the minister first sent six departments, let all the dignitaries in Beijing discuss it together, if it is feasible, it is not too late to do it." ”

"Okay, that's it!"

……

After the pre-imperial meeting, Sima Guang and the others all withdrew first, but Wang Ningan stayed and talked with Zhao Shu for a while...... Then Wang Ningan went back to the mansion directly, and did not go to the political affairs hall, and Sima Guang waited for an hour in the political affairs hall, and did not wait for Wang Ningan!

"The teacher is dissatisfied with Sima Junshi!"

Zhang Dian waved his fist and scolded angrily: "This Sima Guang, he is also too greedy, as soon as the railway is built, he wants to jump down and pick peaches!" I don't want to think about it, the people in the southeast back then just wanted to share the profits with the imperial court, invest in the railway, and strive for their own benefits...... The master was stunned and did not agree, and fought with them upside down, not hesitating to destroy the gentry in the southeast. Sima Guang is good, the benefits that the teacher has worked so hard to win will be given away in vain, what does he want to do? ”

Lu Huiqing grinned, "Brother Zihou can see clearly, Sima Jun really made a stinky move, I think so, you go and talk to the master, you must not agree!" ”

Zhang Duan snorted, "Brother Jifu, you are smart, but don't take me for a fool, Master doesn't even want to see Sima Junshi, it is clear that he wants to see us people, who is with him...... And whether it's true or not, don't look at what you say, look at your actions! ”

Lu Huiqing frowned, and her voice raised an octave, "What does Brother Zihou mean?" ”

"You are all in the middle of the matter, why don't you impeach and correct it?"

"Me!" Lu Huiqing almost choked, where is this, just go for impeachment! Sima Guang just made a suggestion, besides, as the senior brother of the big guy, with many years of friendship, you are so eager to tear your face, you Zhang Dun is too unkind!

"You are also the secretary of the military department, why don't you read the book?"

"Of course I can't go to school!" Zhang Dun shook his head and said: "Sima Jun is really the prime minister in charge of military affairs, I am the secretary of the Ministry of War, this kind of thing, you are unfair and public, and I am selfless and disadvantageous." So...... Brother Jifu, I have self-knowledge anyway, I can't fight Sima Junshi, it's a big deal to pretend to be a grandson, but it's your brother, in charge of supervision, and he has done nothing, which really makes us Jiayou's teeth cold in the same year! ”

Lu Huiqing kept rolling his eyes, this Zhang Zihou didn't have a good heart at all, he clearly wanted to force himself to fight with Sima Guang, he came to watch from the wall, sat on the mountain and watched the tiger fight, the most important thing is that this guy still puts everything on the table, you are too shameless!

The old god of Zhang Dan is here, he went to Jiangnan this time, and the biggest skill he learned was the shamelessness of Wen Yanbo! He has already decided that he should take Wen Kuanfu as an example everywhere, without the old fox's cultivation of treating his face as nothing, he really doesn't want to mix in the sinister rivers and lakes, these eight princes around him are all going to eat people!

Don't!

Before the two of them could move, Zeng Bu, the secretary of the Ministry of Works, wrote a book, and he refuted Sima Guang's assumption with words.

Zeng Bu pointed out in the song that building the railway is not only the investment of money, but also the result of the concerted efforts of the whole people...... For example, the people along the way took the initiative to cooperate with the land acquisition, and the imperial court saved a lot of expenses...... There are also engineers who participated in the construction, who contributed their talents and overcame many difficulties without compensation, several of them were injured and died in the process of building roads, not to mention so many slaves, all of whom were captured by the imperial court in the war.

How do you calculate these efforts?

If, as Sima Guang said, businessmen are allowed to participate in shares and dividends are given...... But don't forget, the common people and engineers are contributing to the imperial court, they are for the country of the Great Song Dynasty, not for the money bags of some merchants, if the imperial court does this, it is to squander the loyalty of the people, and it does not make sense morally at all!

Zeng Bu's views are very representative, followed by Fan Chunren, the secretary of the ministry, Jia Zhang, the secretary of the criminal department, Chen Xiliang, the imperial historian Fan Chunli, and Ouyang Fa, Lu Tao, and Chen Yu are all on the book...... For a while, the civil war under Wang Ning'an's men was about to start......