The previous approach was not unreasonable, but the facts proved that once there was a real financial merger and the formation of a super "financial predator", then the laws of the past would no longer be applicable to today's Great Song Dynasty.

Why does Liu Xing think so? There is only one main reason, that is, although the status of merchants in the past was not very low, the opportunities for businessmen to enter politics were slim, and the possibility of directly using capital to influence or even control the imperial court was maintained.

Today, the situation is different. More than 30 percent of the members of the House of Councillors and the House of Representatives are wealthy businessmen themselves, or among their clansmen.

Even many officials of the imperial court, including the chief governor and the secretary of the Ministry of International Trade and Shangshu Su Quan, were themselves a person who was legally compliant and integrated officials and businessmen.

If we continue to rely solely on the "Fan Xiang Banknote Law" to control the banknote quotation transaction, if one day one day one or a group of "financial predators" with other intentions want to compete for the supremacy of the imperial court through capital control, then the threat and harm will be huge, so big that the law change can be destroyed at any time.

In order to ensure that that such a situation did not occur, Liu Xing decided to start with the 36th shop, ban and acquire it, and then merge it into the government-run "traffic introduction library" for unified and clear control by law.

Jingdong 36 shop is just the beginning, Liu Xing is ready to be in Jingdong's "cross-introduction library" after the successful trial, to fully promote this routine to the whole country. In this way, all securities transactions in the current Da Song Dynasty will be brought under the supervision and control of the HKMA, so as to ensure that the reform will not suffer a catastrophe due to the backlash after the accumulation of capital.

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When Liu Xingguang recovered Bianjing and entered the city to wash several big families, Jingdong Baipu had a major recession because it lost its strong economic backing, and it was sharply reduced from nearly 100 to 36 shops.

According to a secret investigation conducted by the Military Intelligence Department some time ago, the owners of the 36 shops were all newly wealthy businessmen who had come to Bianjing from all over the country.

Like all securities trading, the "cross-quote shop" is, of course, also a profit through the difference between buying and selling. Therefore, in the past, some "financial predators" in the Great Song Dynasty manipulated the market with their abundant funds, depressed the market price of the exchange, and the purchase of the exchange was not unprecedented.

For example, during the reign of Emperor Yu of the Northern Song Dynasty, "the coupon to the Beijing Division, which was suppressed by the Southern Merchants, the tea was 100,000 yuan per straight, and the sales money was 3,000, and the rich took advantage of the time to collect and collect the profits."

The cross-quotation of the acquisition of "cross-introduction shop" is usually not directly used to pick up the goods, but is sold to tea and salt merchants: "Shop Jia sells it by itself, and Zhuan Jia and tea Jia".

In the era of the Great Song Dynasty, cross-quotation transactions were legal and encouraged by the imperial court. Therefore, in the past, even if there was a situation of large shop merchants manipulating the market, the Song Dynasty did not suppress the market in the past.

Instead, he adopted the suggestion of Fan Xiang, a member of Song Renzong's soldiers' department, to set up a government-run "money buying field" and buy the exchange at a price slightly higher than the market price when the market price of the exchange was too low; When the market price of the exchange is too high, the exchange is sold at a price slightly below the market price.

The imperial court used this to stabilize the market price of the exchange. This practice is called the "Fan Xiang Banknote Law".

"Fan Xiang's banknote method, five million yuan of money is stored, and it is not allowed to be spent. About 5 yuan per banknote, that is, the official gives 50 yuan to buy it. If it is extremely expensive, it will be reduced by 50 yuan. The power of low is always in the office. ”

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Hearing his question, Liu Xing smiled slightly and said: "I have no intention of listing calligraphy and painting as a monopoly, but I want to promote many ancient books, ancient paintings, and hand-me-down classics into a commodity, and at the same time promote contemporary literati and artists to join the development of the big market." After the exchange, the library will no longer only be a place for issuing quotations and trading original certificates, but will become a comprehensive stock exchange, so as to increase taxes for the imperial court and stimulate domestic demand of the people. ”

"Stimulate private domestic demand? Increasing taxes on comprehensive securities? Why do I get more confused the more I listen? Hearing this, the planter was even more puzzled, and looked at Liu Xingdao in amazement.

Smiling faintly again, Liu Xing patiently explained his thoughts and decisions to him.

The reason why Liu Xing had this idea was because there were originally some legal "exchange shops" protected by the imperial court in Bianjing and other places, and their nature was very close to the stock exchange of later generations.

It's just that the exchanges in later generations are either futures or stocks, and the commodities traded in the "exchange shop" are salt quotation, tea quotation, alum quotation, incense quotation, rhino elephant quotation and other securities. In the past, there was no iron citation, and this time Liu Xing is ready to include several references that did not exist before such as iron quotation into the transaction.

In the era of the Great Song Dynasty, a relatively extensive prohibition system was implemented, and indirect monopoly was adopted for salt, tea, alum, incense, etc.: first, the merchants paid cash to the government-set up goods in exchange for a cross-reference, and then used this cross-reference to the designated place to receive salt, tea and other commercial goods.

Because the transaction volume is very large, the Song Dynasty court set up a "cross-reference library" by the household department very early. The original function of cross-quotation is similar to that of "bill of lading", see the quotation of goods, and recognize the person who is not recognized.

The development of the market economy has enabled the cross-introduction to break through its original function and obtain the general function of securities. Due to the fluctuation of the price of goods, the value of each type of exchange as a "bill of lading" will also change accordingly.

Past experience has taught the merchants of the Great Song Dynasty a truth, that is, in many cases, there is no need to pick up the goods, and they can directly buy and sell the goods.

The characteristic of "recognizing but not recognizing" also makes it possible to freely circulate cross-references. As a result, the "cross-introduction shop" similar to the stock exchange in later generations came into being.

Before Jingkang, the securities trading in the big cities of the Great Song Dynasty was very developed, and the natives of some prefectures and counties had to be cited, and the special chong to the state capital, each "chong to the state capital" had a "cross-introduction shop".

Bianjing is the financial center of the Great Song Dynasty, and there are nearly 100 "traffic shops" on several streets in the east of the city. The trading of cross-quotation is a large transaction, and there must be a very strong capital, so the façade of these "cross-quotation shops" is to put out a large pile of "gold, silver and (present) money, which is called looking at the stack of money", in order to show that their capital flow is sufficient.

"Okay, I know that it is a place where salt, tea, alum, iron and other things are issued and traded, which has long been traditionalized and regulated in the Great Song Dynasty. But what are you doing in the calligraphy and painting market? Do you want to turn calligraphy and painting into a kind of monopoly of the imperial court? After hearing Su Quan's words, the planter didn't wait for Liu Xing to speak again and asked first.

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