"Since the end of the war for more than a year, the market has become more and more prosperous." On February 18, 1650, Shao Yuanyi sat in the living room of the Xihu County State-owned Guest House, drinking tea with his eyes closed, while still listening to the discussions of the people next to him. Tea is not a precious tea, but a popular local crude barley tea, but Shao Yuanyi is not a person who pays attention to enjoyment, so he has always tasted it safely.

"There are two counties, eleven townships and towns in the South Yazi Lake area, 65,000 households, and dozens of workshops, isn't there only one trading market, can it not be prosperous?" A man with a strong Shandong accent said in standard Mandarin on the east coast, "There are so many workshops that need money, but the United Industrial Credit Bank of Narausch can't borrow enough money, and I heard that most of them have been used by the railway companies and shipyards to expand their operations." There are a few small workshops in the countryside, they don't care about it - and they really don't have money - so it's normal that the bond trading market, which is designed to solve the financial problem of small workshops, is booming day by day. After all, the economy looks okay now, it's thriving, and everyone is busy expanding production. ”

The two men were right, even though the government has been trying to curb inflation in the East Coast, with strict approvals for projects with huge investments. However, with the deepening of the domestic construction process and the impact of the government's decision to expand the share of immigrants, the United Industrial Credit Bank, which is mainly responsible for domestic industrial financial services on the east coast, still lends a large amount of money, such as to large enterprises such as the three major shipyards, the Central Railway Company, the Southern Railway Company, the Tieling Special Steel Plant, the First Heavy Machinery Factory, and the Western Forging Plant.

With these loans, the credit line of the United Industrial and Industrial Credit Bank was completely spent, so that there was little help for the many small private enterprises in the country who were also desperate for capital. However, most of these enterprises are supporting enterprises of major state-owned factories. Or it is a new enterprise that has emerged in recent years (such as soybean oil, soybean cake, flour, etc.). The influence is not very small, either. Therefore, we can't just throw it away, but we still have to manage it.

However, once it is decided to manage them, it is necessary to solve the all-important problem of lack of funds for them, but what the government lacks most now is money! It is not advisable to print money, because it will push the inflation process that has begun to rise again to a new level, and in this case, it is the best choice for the government to extract and use the massive amount of money deposited in the private sector to the greatest extent. And this. In fact, it is also the original intention of the establishment of this bond trading market set up in Xihu Town, Xihu County, which is designed to solve the capital problem of private small enterprises.

Of course, there's more to this bond market than meets the eye. In addition to undertaking the issuance of bonds by public and private enterprises, it also undertakes the functions of the bill discount market and the securities trading market. First of all, the bill discount market, which is particularly important for some businessmen who buy agricultural and animal husbandry products in the countryside all the year round, because the peasants in the countryside -- especially the peasants from the Ming Dynasty -- out of deep-rooted concepts, they are very uninterested in banker's acceptance bills of various denominations and some other commercial papers that can be used as currency circulation in Europe. This required the hawkers who went to the countryside to harvest had to carry large quantities of cash with them.

Gao Jinzhong and Agnelli, from the Rabbit Hole Flour Workshop in Hekou Township, Zhenhai County, are such businessmen. The conversation Shao Yuanyi heard just now came from Gao Jinzhong's mouth. At this time, I only heard him say to the man who was talking eloquently opposite: "Lao Zhai, don't talk useless." I'm not interested in this market. I came here today because I heard that it is possible to discount unexpired bonds and bills of exchange, and I have a large amount of these bills in my hand, all of which are obtained from exporting flour to the state grain reserve. Seeing that the summer grain is on the market, I have to raise a sum of cash to collect the grain in the countryside, I heard that you know a lot of people here, so you have to help me find a way. ”

"Now that the economy is improving, the market is tight, and everyone is working hard to expand production, so the discount rate has been rising steadily in the past year or so. Forget it, I guess you know the basic situation, so I won't say more. Come with me, those businessmen of the 'Jining Gang' are sitting in the middle, and I will introduce you, they have a lot of cash in hand and have contracted a large part of the bill discounting business here. Even if anyone wants to issue bonds to raise funds, then you can also find a way to find a way, they also help people to provide loan guarantees, in short, they will do whatever business makes money. Alright, don't be stunned, come with me. As the middle-aged man's voice faded away, Gao Jinzhong and the others followed inside.

In recent years, the Rabbit Hole Flour Mill has sprung up, killing a number of flour processing workshops, almost monopolizing the entire business in Zhenhai County, and they also provide flour for the construction team under the Ministry of Communications to build Highway 2, which can be described as a thriving business. Therefore, it is not so surprising that they have accumulated a large amount of commercial papers, and such a large amount can only be taken over by the "Jining Gang" businessmen who sit in the inner room (commonly known as the "big house"), and the retail bill discount merchants outside can only contract business of less than 1,000 yuan.

Most of Shao Yuanyi's commercial papers were bonds, occasionally mixed with a few bearer stock subscription certificates, all of which were in his hands by people who were in urgent need of money. The bonds are good to say, the shares of the Southern Railway Company totaling hundreds of yuan are like a hot potato in his hands, and they urgently need to be sold for money. Because many people are saying that the Southern Railway Company will not be profitable in recent years, and it will continue to suffer huge losses and be on the verge of bankruptcy, which has led to the actual value of the shares of the Southern Railway Company in the current trading market all the way down, almost to the point that no one wants it.

Shao Yuanyi was worried about these stocks at hand, and he was soft-hearted and accepted these dead shares of the Southern Railway Company, and also went to the relevant departments for the record of ownership change (the shares of the Southern Railway Company are registered stocks), and now it seems that it has done a poor job and is completely smashed in his hands. Today, he came to the West Lake Market with a total of several hundred yuan of stocks, just to see if there was a chance to cash out, and he did not hesitate to lose even a small amount of money.

However, before selling the shares, it is better to cash out some commercial paper on hand. This is not difficult, Shao Yuanyi only ran for about half an hour, met with some familiar bill discount service providers, and soon sold a few St. George's firm bills at a certain discount (God knows where the drunken sailor who was given to him got these bills).

After eating a delicious Ottoman-style mutton pilaf, at one o'clock in the afternoon, Shao Yuanyi once again stepped into the door of the West Lake bond trading market, ready to try his luck to see if he could transfer the shares of the Southern Railway Company that he had accumulated for a long time. Unexpectedly, at this moment, a message suddenly circulated in the crowd at the gate of the trading market: "The Southern Railway Company has recently come forward and negotiated with the Spaniards for smuggling business to the Peruvian market. Among them, the Southern Railway Company will act as a monopoly agent of goods on the east coast and will surely make huge profits. ”

This news that I don't know whether it is true or false suddenly made Shao Yuanyi a little dizzy, and after a long time, he suddenly realized: I am afraid that the stock price of the Southern Railway Company is not going to rise sharply! Sure enough, after only a short while, the few businessmen who did not want to buy their own shares in the morning surrounded them like sharks that smelled fishy smells, and asked Shao Yuanyi if he was still willing to sell the shares of the Southern Railway Company now. If they are willing, they will now go to the people of the fair shares of the West Lake Exchange Market to do justice and formally transfer this part of the shares, for which they will give Shao Yuanyi a "more sincere" consideration.

However, now Shao Yuanyi has recovered from the frustration in the morning, and after thinking about it carefully, he decisively refused these people's requests to buy stocks, and made it clear that he would not sell them! Then, I hurriedly packed my things, bought a ticket back to Pasture Ridge, and went home. He now vaguely feels that the future prospects of the Southern Railway Company, a giant enterprise with a deep background and a national strategy, may be unlimited, and the stock price will soar at that time, and investors who have bought the company's shares at this stage will definitely get a rich report in the future. It's no doubt that it's just a matter of time! Therefore, Shao Yuanyi has decided not to sell stocks now, doesn't he have a few hundred yuan of funds on hand? Lao Tzu doesn't care, Lao Tzu has a lot of money and can afford it!

After Shao Yuanyi left, this increasingly prosperous trading market was still carrying out various businesses unhurriedly, providing sufficient nutrients for the development of the private economy on the east coast. Recently, there have been some rumors from the upper echelons of the Ministry of Finance that the government is ready to give greater support to the West Lake bond trading market with the typical successful operation of this market. For example, they will allow the Westlake Bond Exchange (the state's financial institution) to engage in short-term peer-to-peer lending with other financial institutions, such as companies under the Ministry of Finance that underwrite stock and bond offerings, as well as some banks.

The introduction of this policy is bound to greatly improve the capital situation of the bill discount market in the East Coast, and at the same time, it will also enable the West Lake bond trading market to achieve better and faster development. As long as the supervision of the government departments is in place, it is believed that the development of this financial market will in turn promote the development of domestic industry and agriculture on the east coast, which can be described as mutually beneficial. (To be continued......)