Ma Mingluo answered yes and stayed where he was.

Chongzhen said to Zhu Cihong again: "Hong'er, please invite your father-in-law and the crown princess to the front hall to discuss matters." ”

"Yes." Zhu Cihong responded, and immediately went back to the back hall to invite Kang Million and Kang Xi out.

Watching Uncle Kang and the crown princess salute Chongzhen, Ma Mingluo felt a little strange in his heart, he could understand if he asked Uncle Guo to discuss the matter, what the hell is the princess invited? Let a woman mix up on this occasion?

Only Chongzhen knows best that the crown princess is a real business wizard.

In the future, the royal business will most likely be handed over to the crown princess to take care of.

"Sit, sit down, there are more things to discuss today, and it's tiring to stand." Chongzhen motioned for everyone to sit down, and then continued, "Let's talk to you about the debt issuance first." ”

"Everyone in the world thinks that I issue bonds to raise money."

"Even the princes in the court think so."

"Yes, they guessed right, the debt was issued to raise money."

"But they guessed wrong, and the bond issuance was only the first step."

"The second step is key, and that's trading!"

"Bond trading?" Ma Mingluo couldn't help but ask, "Holy Lord, isn't it forbidden to trade bonds?" ”

"That's to prohibit private transactions." Chongzhen waved his hand and said, "If the bonds can be traded privately in the private sector, then the Internal Affairs Office will be unprofitable, and the salary for training troops and fighting will be gone." ”

After doing so much, he did not hesitate to return the tens of millions of taxes and silver recovered, not just to raise money.

"What profit can be made in bond trading?" Ma Mingluo looked dazed, "The debts that were sold were bought back?" And the money from the sale of the debt will not go out with it? What's the use? ”

Bond trading is like a layer of window paper, and it's very simple to pierce it.

But before you stab it, you can't even think of breaking your head.

Chongzhen patiently explained: "The bond is sold at one price, bought back at another price, sold again at another price, and then came back at another price, do you understand what I said?" ”

"This?" Ma Mingluo was dumbfounded, "The Holy One said to buy low and sell high, can this work?" ”

"Why not?" Chongzhen asked rhetorically, "Some people buy it, but some people can't sell it?" It is possible to set up a special trading office in the city, and all the officials and gentry of the Ming Dynasty can set up a special account in the exchange as long as they provide their identity information, and as long as the silver is deposited in advance in this account, they can participate in bond trading. ”

"The trading of the Shiyi Exchange must be carried out every day except for the rest of the day, two hours in the morning and two hours in the afternoon."

"When you sell bonds, you only need to quote your account number and the type and quantity of the bonds you are selling, and the clerk of the market will help him list the bonds, and when you buy bonds, you need to quote your account number and the number and quantity of the bonds you need to buy, and there will be a clerk of the market to buy for him."

This is already very close to modern securities trading.

That is, there is only one type of securities traded for the time being.

Kang Million, Zhu Cihong and Zhu Cijiong all have a refreshing feeling.

Kang Xi cast an admiring look at Chongzhen, and said in his heart that the saint was really a business genius.

"But ......" Ma Mingluo was a little confused, "those gentlemen and businessmen are not stupid, will they be fooled?" ”

"Ma Qing, you're wrong, this is not called being fooled, this is just business." Chongzhen smiled and said, "For example, about a month later, I led the Qin Wang Shizi to Xuzhou, and I would conduct a military exercise to strengthen the army, and after the Tang newspaper was transmitted back to Nanjing, the Jiangnan gentry and merchants would be more confident in the Northern Expedition, so at this time, if someone sells bonds, even if there is a rise above the original price, there will still be people willing to buy it." ”

"This." Ma Mingluo was speechless for a moment.

Chongzhen continued: "If the Ming army wins the battle again at this time, even if it is just a victory over the bandits, I am afraid that the price of bonds will rise again after the news reaches Nanjing, and more people will open bond accounts in the market." ”

"Holy Lord, the minister understands." Hearing this, Ma Mingluo finally reacted.

After a pause, Ma Mingluo said again: "At this time, the Ministry of Internal Affairs can sell the second and third tranches of bonds, right?" ”

"Yes, this is the best time to sell the second phase of bonds, and no matter how low the interest rate of the second phase of bonds is, some people will still buy them, because by this time, the gentry and businessmen in the entire Jiangnan have probably discovered that buying bonds can still make money without paying them at maturity, and they can make a lot of money!"

How many people who speculate in futures will actually take delivery?

Ma Mingluo said: "So the Holy One means that it is right for the Ministry of Internal Affairs to organize the city exchange?" ”

"No, the city office cannot be organized by the Ministry of Internal Affairs." Chongzhen waved his hand and said solemnly, "The market exchange that provides bond trading can only be organized by businessmen, and the internal affairs government only has the right to supervise. ”

Official-supervised business management has proven to be a viable approach.

Pure government management is prone to corruption and is not very efficient.

Pure business management can easily lead to chaos in the economic order, and the profit-seeking nature of capital has determined that once it loses supervision, it will evolve from a canal that irrigates the fertile land to a flood that destroys everything.

Therefore, only the government, supervision, and business management are the most reasonable solutions.

This is not only the case for the city, but also for all the industrial and commercial systems of the Ming Dynasty in the future.

"The market can only be set up by businessmen?" Ma Mingluo was stunned, Kang Wanwan's father and daughter and Zhu Cihong's little brother also didn't expect that this kind of yamen, which often involves tens of millions of taels of silver, could also be handed over to businessmen?

"Why?" Zhu Cijiong asked, "Isn't it good to hand it over directly to the Ministry of Internal Affairs to prepare?" ”

"Not good." Chongzhen said solemnly, "The daily turnover of the Shiyi Institute will be an astronomical amount, and no one can be moved in the face of such a huge sum of money every day!" ”

"Therefore, if the city office is attributed to the Ministry of Internal Affairs,"

"I'm afraid that the director, deputy director, and officials of the Internal Affairs Office will have to be changed every six months."

Ma Mingluo was silent, and he was also asking himself, can he withstand this huge temptation?

Answer: Yes, I don't know, he doesn't know if he can withstand the temptation, how long can he hold on?

Zhu Cijiong frowned and said: "But if the market exchange is handed over to the businessman to prepare, won't the difference between buying low and selling high go to the businessman who is preparing it?" What does the Ministry of Internal Affairs have to gain? ”

"Dividends." Chongzhen said, "The Ministry of Internal Affairs does not participate in the preparation, but it has shares!" ”

"Shares?" Ma Mingluo was stunned and said, "What does the saint mean is that there will be many businessmen in the market exchange to buy shares?" ”

"Of course." Chongzhen smiled slightly, and said to Kang Wanwan, "In-law, this matter is entrusted to you, I have thought about it, the number of shares of the Shiyi Exchange is tentatively set at 10,000 shares, and the principal per share is tentatively set at 10,000 taels." ”

After a pause, Chongzhen said again: "The total share capital is tentatively set at 100 million taels!" ”

"100 million!" Ma Mingluo couldn't help but gasp, so much?

Kang Million also felt a little dizzy and a little frightened at the same time.

One hundred million taels? Holy Lord, you are too ruthless, where can I get so much silver?

Besides, if you set the principal of the market exchange so high, you will scare away the interested businessmen.

After all, it is not a small pressure to take out so much share capital at once, and it takes too long to return to the capital.

Chongzhen seemed to guess Kang Million's thoughts, and said with a smile: "Don't be afraid, I won't force you to take out 100 million taels at once, I will allow you to only subscribe to part of the principal for the time being." ”

"This, that ......," Kang Wanwan said, "dare to ask the Holy Lord, how much is the approximate subscription?" ”

Chongzhen thought for a while and said: "The Internal Affairs Office accounts for 5,000 shares, but does not participate in the operation, only responsible for supervision, the remaining 4,900 shares are management shares, you can subscribe first, and then find other colleagues to subscribe, by the end of this month, you only need to subscribe to one percent of the share capital, and the rest will be said at the end of the year, if the profit of each family is not enough to cover the principal of three percent, I will return the previous one percent of the share capital, and each family can withdraw at any time." ”

Kang Million thought for a while and asked: "What if the profit of each company exceeds 30% of the share capital at the end of the year?" ”

"Then there is nothing to say, each family must pay off the remaining share capital by the end of the year." Chongzhen said, "Including your in-laws, you must also pay off, a business that can return to the capital in three years is a good business anyway, and it is stable, so there will be countless people fighting for their heads, and they don't worry about selling at all." ”

Kang Million accepted this, and asked: "So, there must always be a person to talk about in the market, and this person is elected by us businessmen who have invested in the shares, or is it designated by the Ministry of Internal Affairs?" ”

"Elect." Chongzhen said solemnly, "The Ministry of Internal Affairs will not designate it." ”

"So, the minister understands." Kang Million breathed a sigh of relief when he heard this.

As Shengshang Shicai said, the market is really a good business.

Fang Wenzhen, Zhang Han and businessmen from all over the country should be very interested.

As for the share capital of 4.9 million taels, it is not worth mentioning at all.

But for Chongzhen, it is a lot of extra income.

Counting the 20 million yuan from the sale of debts, plus the principal of 4.9 million shares that are about to arrive, as well as the remaining more than 1 million taels of Yangzhou tax silver and Nanjing tax silver, there will be 26 million in the account of the Ministry of Internal Affairs soon!

With this large sum of silver, Chongzhen can finally do some of the things he wants.

The first thing to do, of course, is to make firearms, to make firearms, to make firearms!

At the end of the Ming Dynasty, it was already at the critical juncture of the alternation of cold weapons and hot weapons, although the advantages of hot weapons on the battlefield were not so obvious, and they would even be crushed by cold weapons under certain conditions, but the general trend of history was mighty, and it was not transferred by anyone's will, and the world would definitely enter the era of hot weapons in an all-round way.

Again, financial speculation will not promote the development of the industry.

Therefore, only by investing a large amount of real money into military industrial production, and then driving the industrial development of other fields through the military industry, it may be possible to give birth to an industrial revolution in the Ming Dynasty.

This is also the first national policy determined by Chongzhen for the Ming Dynasty.

Use the military industry to drive other industries!

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