Bulgarian Empire

Seeing this result, Ferdinand did not know whether to cry or laugh!

This novel version of the history of ethnic origins is mainly to promote the integration of various ethnic groups in Bulgaria.

Unexpectedly, it also helped Austria-Hungary and Russia to a certain extent. Compared with Bulgaria, their domestic ethnic conflicts are more serious!

The main ethnic group of the Austro-Hungarian Empire is less than 30%; the Russian Empire is not much better, dangling on the border of 40%, both countries need a set of theories to promote national integration!

Ferdinand’s fictional version of the history of national origins just met this condition and was used directly by them. As for the effect, only God knows!

Anyway, Ferdinand is not optimistic about them, and relying on the execution ability of the bureaucrats of the Austro-Hungarian and Russian empires, wanting to instill this set of close relatives theories is tantamount to a dream!

If the language cannot be unified, even if the smallpox you are talking about is broken, the gap between them cannot be eliminated. People will ask, why is there such a big gap in our cultural heritage?

After the eruption of nationalism in the future, do whatever it takes!

...

For Bulgaria, the economic crisis: "immediate crisis is also an opportunity!"

Although the economic crisis temporarily interrupted Bulgaria’s economic development, industries all over the world are now depreciating. Many things that Bulgaria could not afford before can now be bought at low prices.

For example, Ferdinand previously targeted an English shipyard that had difficulty operating, and his quote was 1.5 million pounds. It's still an expression of buying and not buying. Now 500,000 pounds is a high price, and it is still depreciating!

The major countries in the capitalist world are now overcapacity. Everyone who is usually arrogant and coaxing capitalists will have a hard time now.

First suffered heavy losses in the stock market, and then faced cruel market competition. The more you produce, the more you lose. The products cannot be sold, and bank loans are stopped again. In order to withdraw funds, everyone has to sell at a lower price!

You fell and I fell, he fell even harder, and vicious competition began to circulate. As a result, a factory went bankrupt and was put on the auction table by the bank!

Ferdinand, who had been prepared for a long time, is of course buying now!

...

"Your Majesty, this is the purchase list delineated by the Ministry of Industry, please go through it!" said the Minister of Industry, and sent a meager purchase plan.

Ferdinand took it and glanced at it. Although the content is small, the appetite of the Ministry of Industry is not small this time, covering almost the entire industrial system.

Including metallurgy, electric power, fuel, chemical industry, shipbuilding, machine building, transportation...In addition to the industries that Bulgaria already had, the industrial system at the end of the 19th century was basically complete.

The plan to acquire 148 factories will involve a total of 1.5 billion levs, or about 60 million pounds, almost catching up with the Boxer indemnity!

This is still the price in the economic crisis, Ferdinand is sure that if this is during the economic boom, even if this number is increased by four or five times, it may not be able to get it!

No wonder the chancellor’s eyes are wrong, and it is clear that the government cannot come up with the money. Moreover, even if these factories are bought back, how to make them work is a problem!

It's not a human problem. It's a time of economic crisis. Unemployed are everywhere. It's easy to dig people.

In terms of the question, after these factories are up and running, how can they survive? Products must have a market, right?

For example, the two 30,000-ton docks and the three 20,000-ton docks in this plan seem to be very good, but Ferdinand can be sure that after it is established, it will survive half of it, which is a record!

Another example is this steel plan. After theoretical completion, Bulgaria can achieve an annual output of three million tons of steel. Ferdinand doubts, who can sell steel to?

...

Anyway, this series of acquisition plans are very radical! Ferdinand has some doubts, who is the traverser?

Does everyone know that the Russo-Japanese War will break out in 1904, so that the Russians can be volunteers? Not right, even the Russo-Japanese War could not help consume so much capacity!

Russians also have industries, and even if they have to purchase externally, they are only part of it, and they have to face competition from European countries.

Moreover, the Russo-Japanese War ended within a few years. Who should sell it to? Ferdinand doesn't think that Bulgaria can develop so fast, and in just a few years, he can consume this part of the production capacity!

Even though he was full of doubts, Ferdinand still patiently asked: "Can the Ministry of Industry explain this plan?"

The Minister of Industry said with some embarrassment: "Your Majesty has a rare opportunity! The price of industrial equipment like this now is the price of cabbage. If you miss this opportunity, then..."

Before the Secretary of Industry had finished speaking, the Secretary of the Exchequer Kennedy interrupted him: "But the problem is, even at the price of cabbage, we can't afford it!"

This reason is very powerful, so powerful that no one can refute it. The Bulgarian government has just completed a large immigration, and now it is still heavily indebted, it is impossible to come up with this huge sum of money!

4.26 million people were picked up and 2.67 million people were sent away. The Bulgarian government completed the migration of 6.73 million people in just three years. Even if you spend 1,000 levs on each person, this is a huge sum of 673 million levs, and the actual cost will only be greater!

Coupled with domestic construction, the total amount of zero and zero has come down, and the debt of the Bulgarian government has snowballed, and now it has reached the peak of 2.6 billion lev!

Ferdinand also knew that now the Bulgarian government absolutely cannot make large borrowings. This figure is almost four times the fiscal revenue.

It is the beginning of the 20th century, not the 21st century. The four-fold debt ratio has not crushed the Bulgarian government. It is already a record-breaking. If it continues to increase, Greece is a lesson!

Ferdinand asked: "How much money can the government allocate without affecting domestic construction?"

The Chancellor of the Exchequer Kennedy thought for a while and said: "Up to 700 million levs, including the 500 million levs of emergency funds raised later!

Taking into account the actual situation, these industrial equipment must be put into production after they are purchased. We must leave at least 300 million yuan in funds for the subsequent construction of supporting facilities! "

Kennedy's words cast a chill on the ambitions of the Secretary of Industry, "Does a penny stump a hero?"

Now this gap is not eight million dollars, and the government will squeeze out. The funding gap of more than one billion levs, even if the Bulgarian government really sells iron, it will not be able to make up!

"What can we do? Your Majesty, our large-scale industrial plan is at a critical moment, and we can't stop now!"

Looking at the performance of the Minister of Industry, Ferdinand knew that these guys were suffering from idealism again, so just ignore them!

There is no alternative. In order to develop industry more efficiently and rationally, many officials of the Ministry of Industry are engineers concurrently.

While they are engaged in industrial construction, they are also responsible for overall planning. Of course, the political mind can no longer demand it!

Ferdinand has seen this idealized plan many times, but seeing that they have done a good job in industrial construction, he will bear it.

Idealization is idealization, it is better than replacing with a group of bureaucrats, tossing around for the sake of face engineering! Ferdinand said that as long as he can complete the tasks set by himself, he will not be held accountable for the details. Who calls Bulgaria lacks talents?

Ferdinand comforted: "Don't worry too much, you can think of ways. Considering the actual situation, we will first revise the plan and reduce the production capacity, so that the funding gap will not be so large!

In addition, like the construction of supporting facilities in the later stage, we can still think of ways. Considering that our industry is about to skyrocket, then put a batch of currency into the market, the market can also be digested, and the funding gap is almost closed! "

Well, the way Ferdinand finally came up with was to print money. Anyway, he just made a fortune, and now the gold is still in the vault.

In the gold standard era, money can be printed with gold. This is not nonsense. With the rapid development of Bulgaria's economy, the demand for currency has also increased substantially.

Just like the British Empire in history, there were still a lot of fiscal deficits during this period, but after the Anglo-Boss war, with the gold obtained from South Africa, it quickly emerged from the deficit, and the pound's financial dominance became more consolidated. !

Moreover, Ferdinand also knew that the use of currency issuance to solve fiscal crises was also the most commonly used method in later generations. UU reading www.uukanshu. com and even some countries’ currency issuance revenue exceeds half of fiscal revenue.

Everyone has no objection, this is not their profession, as long as the Ministry of Finance thinks it is possible, that's fine!

Kennedy will certainly not object to it. You must know that the Ministry of Finance has made a lot of profits with the previous currency issuance, but because of the economic crisis, this part of the proceeds has been invested in infrastructure construction!

As for the specific currency to be issued and how much gold is needed as a reserve, Ferdinand does not have to ask. Bulgaria's original reserves plus his private storage, the total amount of gold exceeds 600 tons!

This number is already more than half of the Russians, and the total amount of Lev issued on the market now is estimated to be less than one-tenth of the total amount of rubles!

In the end, Ferdinand still cut off a lot of production capacity in the large-scale industrial plan, but the projects have been retained. After all, it is of great significance to establish a complete industrial system.

For example, the steel plan has dropped by 1 million tons from the original annual output of 3 million tons of steel. Another example is the large-scale shipyard, which is directly cut in half, leaving only two 20,000-ton shipyards and three 10,000-ton shipyards. Dock.

These are all decisions made by Ferdinand based on the actual situation.

Bulgaria's railway plan in the next ten years will not stop, and will consume a lot of steel.

Ten years later, the Bulgarian domestic market has also grown, and steel production capacity can naturally be easily digested.

The same is true for ships. These production capacities can still be digested in the market. In the future, they need to be increased. The main purpose now is to accumulate shipbuilding technology and prepare for warship building.

As for the giant shipyard of three to five tons, Ferdinand expressed fancy. The big powers want to pan the science and technology tree, naturally they can do it, and Bulgaria will let it go, now you can honestly follow them and learn!