The sky was overcast, and the wind blowing from the sea carried a thick moisture across Shanghai from east to west. Pen | fun | pavilion www. ｂｉｑｕｇｅ。 ｉｎｆｏ

All the ships on the Huangpu River have hung up their signal lights, and the sound of bells can be heard from time to time on the steamy river.

Pedestrians on the city roads were in a hurry, and no one noticed that an ordinary-looking four-wheeled carriage had run over the wet concrete pavement and stopped in front of the headquarters of the Commercial Bank.

There were no signs on the carriage, but the passengers in it were not ordinary people.

There were two people sitting in the carriage, one was Shi Wenxuan and the other was Chen Bing. The former is the younger brother of the current Shi Fei, and the latter is the son of the Chen clan. Neither of them is a 'big man' in the cabinet government, the former has gone to the Americas, and the latter has not even entered the Senior Council, but is in the Federation of Industry and Commerce.

But as soon as the carriage they were riding in stopped, they were respectfully welcomed into the gate by the staff of the Commercial Bank. As soon as the two of them came out of the stock exchange, they immediately came to visit the trade bank.

The position of the president of the current commercial bank has changed to a new person, and some people may not believe it, but the person who is now the president of the commercial bank is the son of the Sulu Hou Su family. This family, which has been very ordinary since it joined Chen Han, has stepped into the threshold of Chen Han's wealthy family because of the competition of the descendants of the younger generations. Although Su Lu Hou is not as good as the founding fathers, he can break the country overseas, but the Su family's small transparency from the beginning is now at the point, which is also a milestone leap.

You know, the Su family originally planned to die down in fifty years. Su Yunsun [Abubeka] did not expect that there was such a talent among his children and grandchildren, who excelled in his studies when he was a child, and easily approached the financial management major during the college entrance examination, and now he is just forty, and he has become the leader of the commercial bank.

Although due to the different definitions, compared with the Bank of China, China Construction Bank, Postal Savings Bank, and Bank of Communications, the status of the Commercial Bank in politics is slightly lower, but it is absolutely awesome in business.

If he does not work hard towards the Ministry of Finance, but is only ready to roll in banking and finance, then the position of the boss of the China Banking Regulatory Commission will have to be set aside to place him early.

What was the reason why Shi Wenxuan and Chen Bing came to visit Su Meng this time? Money, of course.

After the American War was fought, Chen Hanzhong still had financial resources, but the vassal states in the Americas were not good. They must issue bonds as a way to raise funds to cover high fiscal deficits.

Anyway, if Chen Han can win a big victory in this war, the day the armistice agreement is signed, they will all make a lot of money.

Shi Wenxuan only represents Kang Guo, but Chen Bing represents the Kyushu Chamber of Commerce.

The feudal states issued bonds in their own banks, and they all needed 'capital' to back them. The times have developed to the present, and securities and stocks have also appeared in Chen Han for more than 30 years. All the rules and regulations have also been put in place, and it is no longer the original model. Before the bonds/shares are listed and issued, the issuer signs an agency issuance contract with the securities issuer to determine the method of stock issuance and clarify the responsibilities of all parties. The method of securities agency issuance is generally divided into two types: underwriting issuance and agency issuance according to the different risks borne by the issuance.

Underwriting issuance means that the 'securities dealer' acting as an agent for securities issuance underwrites all or part of the newly issued securities of the listed company at one time, and advances all the capital equivalent to the issue price of the securities. To meet the needs of bond issuers for a large amount of money that is urgently needed. If the number of securities issued is too large and it is difficult for one securities company to underwrite, several securities companies can also join forces to underwrite.

Consignment issuance is issued by the listed company itself, and only the securities company is entrusted to promote it on behalf of the company, and the securities company only charges a certain agency fee to the issuer for the consignment sale of securities. While this approach can lead to more funding, the overall remuneration time can be long.

There are pros and cons to both methods, but the American vassal states represented by Kangguo have all chosen the first one. They need money urgently, and they need to get enough money as soon as possible.

Since the beginning of summer, the coffers of the North American vassal states have generally been empty. Shi Wenxuan spent the Spring Festival in Nanjing today, and he has been raising funds for his nephew for more than half a year.

Prior to this, Kang Guo had borrowed 20 million Chinese dollars from the Bank of China with customs duties and salt taxes as collateral, with an annual interest rate of 3% and a term of 10 years; The bonds were sold at a 95% discount, and 90% was paid, deducting 5% of the commission, that is, 18 million were actually obtained.

But this money is not enough for Kang Guo to stuff his teeth.

Subsequently, Shi Wenxuan took the right to operate the Miami port as collateral and borrowed 50 million yuan from China Construction Bank and Bank of Communications, with conditions equivalent to the previous paragraph. This money has allowed Kang Wang Chen Wei to support until now, and then Kang Guo has no money again.

Shi Wenxuan didn't know that this war was going to reach the Year of the Monkey, but what he could know was that if this war was fought, if he couldn't get enough war reparations, a large number of vassal states represented by Kang Guo would be 'bankrupt'.

As mentioned above, there are advantages to early establishment of a country, but there are also disadvantages of early establishment of a country. Now the badness of this evil is clearly revealed.

Shi Wenxuan approached the Kyushu Chamber of Commerce before, and Kang Guo was ready to use one million acres of fertile land as collateral to raise 200 million yuan from the country, and the conditions were the same as before. The Kyushu Chamber of Commerce took over the business, and the stock exchange naturally had no problem, so why did the two of them come to the Trade Bank?

This is Shi Wenxuan's desire to rely on Kang Guo's 'credibility' to issue a public bond in the bank! Public bonds are different from bonds, and the former must go through state-owned banks.

The Commercial Bank is the most 'copper-smelling' bank among many state-owned banks, and the two of them naturally came to look for commerce first.

Chen Bing felt that this matter was not a big problem, but as soon as this matter hit the Kang Kingdom, other princes and vassal states were afraid that they would flock to it. Not necessarily all of them are eaten by the Commercial Bank, but the Commercial Bank can definitely eat a big bite. If there is an issuer for this bond, there must be a buyer. The Kyushu Chamber of Commerce is very interested.

In addition, the Commercial Bank has close ties with many domestic business groups. When Kang Guo had the money in his hands, the first thing he had to do was not to ship these banknotes back to North America, but to turn them into materials and munitions that were urgently needed for the war.

The current situation in the Americas is the east wind and the west wind. Either the east wind overpowers the west wind, or the west wind overthrows the east wind. Both sides are aggressively expanding their strength, and without strength, they cannot subdue each other.

According to the information received by Shi Wenxuan, his precious nephew has further raised the maximum age of conscription for soldiers in the territory from 33 to 40 years old, and the minimum age has been reduced from 20 years old last year to 19 years old. This would probably allow him to have an extra regiment of soldiers.

No way, the population base is too small.

According to the report of the Military Intelligence Agency, the Portuguese in Brazil have expanded their army of four divisions to eight infantry divisions, five cavalry regiments, three engineer regiments and three artillery regiments, with a total strength of more than 100,000 troops.

There were many obstacles to this ambitious expansion, the recruitment of soldiers, the training of officers, the replenishment of weapons, and the raising of military funds, relying on the Portuguese in Brazil, who simply could not do this. But now that the Portuguese have the support of the British, these are all trivialities.

The British, who had studied China's tax system, had reached an unbelievable level of financial resources compared to the size of the British Isles.

In 1780, the British had a revenue of £12 million, and by 1799, the British had a revenue of £3,000.

By this time, the British had earned more than £60 million.

Although the war with Napoleon had left the British 'earning more' and spending more, with annual fiscal deficits in the tens of millions of pounds, it was clear that the British were willing to lend money to the state.

When a country's 'day-to-day' fiscal revenue reaches £60 million, there are obviously many people willing to buy the country's government bonds. Because in this era, no matter how huge a country is, without war, without the national water and land transportation construction like Chen Han, and without the construction of national railways, the country's annual financial expenditure will not exceed 20 million pounds.

So, even though the country already owes more than £500 million in debt, there are still many people who are confident in it. [The British national debt in 1810 was 600 million pounds]

The good finances of the British Empire were also the most solid foundation for the final defeat of Napoleon by the Anti-French Alliance.

Now because of the War in the Americas, because of the rise of China - at least there will be no opium trade, and now even Japan and Siam are also cracking down on opium tobacco. Brits earn less than they did in the past, but they spend much more.

It's just that the area of the Americas is so much larger than that of Europe, and the scale of the war in the Americas is much smaller than the scale of the war in Europe. The Office for Europe estimates that the British have poured more than £100 million into their allies, and they only need to allocate a small fraction of their military spending to cheer up Spain, Portugal and the United States in the Americas.

Without military spending, it is impossible for the army to expand, and it is impossible for soldiers and officers to have any morale.

War is about money.

Shi Wenxuan can't represent all the princes and vassal states of the Americas, he can only represent Kangguo.

Kangguo, which had just established itself on the Florida Peninsula, was still in the early stages of its establishment, and it was itself in desperate need of wealth and material things, but it just caught up with the war. But Chen Wei and his Kang Guo can't shirk their responsibilities, no matter how hard it is, he must also resist.

According to his father's plan, the future Kang Guo still needs to expand a piece of territory to the north, how can Chen Wei not work hard?

The funds of 200 million bonds will be in hand, which is 180 million Chinese dollars, and when converted into silver dollars, it is 18 million. The price of silver has not fallen much in recent years, and the decline in the price of silver in the original time and space is mainly in the late 19th century, because it should be after the 7th and 80s. This was due to a number of reasons, including the opening of the Suez Canal.

At the moment, the price of silver is quite strong. Eighteen million silver dollars is 12 million taels of silver, which is the eldest amount of money in my Qing Dynasty.

But for Kangguo, whether it is a war, or the country's domestic infrastructure, industrial construction, and education construction, it is a bottomless pit.

Shi Wenxuan thought of issuing public bonds.

The state must have credibility in issuing public bonds.

Shi Wenxuan looked at Su Meng and said, "Of course Kang Guo has credibility. His Majesty is now King Kang's father, this is the greatest credibility of Kangguo! "How can Lao Tzu ignore his son, and Shi Wenxuan's sister is the favorite concubine of the palace for the first twenty years. Although it is old and decrepit now, the treasure land in the Florida Peninsula can be given to Chen Hui, the king of Kang, which is the best embodiment of Emperor Chen's friendship with Concubine Shi.

Before the Shi family moved to the Americas, it was also a golden sign in South China and the South Seas.