Vol 3 Chapter 5: The economic crisis is coming again

After Ferdinand inspected the Sliven New District, he did not stop and went directly to the last stop of the trip-Plovdiv.
Ferdinand, who has been away from Sofia for almost two months, is now homesick. Probably the reason for being the father for the first time, Ferdinand already missed the little guy a bit, and didn't want to miss every little step of his son's growth.
Therefore, Ferdinand's temporary national tour, which has a bit of a bit of a tiger's head and a tail, is about to end.
However, Ferdinand's political purpose-to tell the bureaucrats that the king attaches importance to industry, has now been achieved. Plovdiv is the last stop of this tour!
Plovdiv has a unique status in Bulgaria and is the second largest city in the country. It has a long history and culture, second only to Sofia.
Plovdiv is located upstream of the Maritsa River, north of the Rhodope Mountains. According to a history of more than one thousand years, it is one of the sources of the national rejuvenation. The national heroes Potov, Levsky, and the great writer Vazov have lived here.
At the same time, Plovdiv is also the richest agricultural region in central and southern Bulgaria. The surrounding plains are wide, the land is fertile, and it is rich in grain, various fruits and vegetables.
And Plovdiv is also one of the most important transportation hubs in Bulgaria, located on the Eurasian aorta. The transfer station from Belgrade, Sofia to Constantinople is one of the most important trading centers on the 6th Eurasia.
After the occupation of Serbia by the Austro-Hungarian Empire, Ferdinand also had the idea of ​​moving the capital to Plovdiv. It was only later that he saw the poor performance of the Austro-Hungarian army and comprehensively evaluated the strength of both sides before he gave up this plan.
After all, Bulgaria is no longer Bulgaria in history. Although Sofia is a little closer to the Austro-Hungarian Empire, after all, the Niš area has been used as a strategic buffer. With the current military strength of Bulgaria, it can still be maintained.
Moreover, since the Balkan War, the morale of your people in Bulgaria has reached its peak, and relocation is likely to cause criticism and morale.
Plovdiv is a comprehensive city with agriculture as the core and commercial trade as the auxiliary exhibition. The industry it owns is also an ancillary enterprise exhibited mainly by agricultural product processing enterprises. There is almost no heavy industry.
Therefore, the station was over soon, after all, Ferdinand could not go to inspect the food factories in person, otherwise it would be too lost.
Now Bulgaria is very different from before. Except for particularly important industries, Ferdinand will not go to see it in person!
In a hurry, Ferdinand came out of Sofia in October, and it was almost Christmas when she returned.
At this point, Ferdinand Little was able to climb everywhere on the ground. Now teaching little guys to talk every day-called "Dad" is one of Ferdinand's most important jobs.
It is a pity that no matter how hard he tries, the little guy does not buy it, only "Oh, oh" in his mouth, and he does not know what to say.
While Ferdinand was enjoying the joy of heaven, an uninvited guest broke in and interrupted his joy of heaven.
"Prince, Yingde has made a compromise!" The Foreign Minister said hastily.
Ferdinand's face changed slightly. He thought that his butterfly effect would enable Britain and Germany to become colonies of South Africa. It took another period of time. I didn't expect the two countries to compromise so soon!
You know, the British talents have just put Germany together on the Portuguese colony, and William II has not had time to retaliate, and it has subsided now.
"What's going on? The Germans shouldn't compromise so soon?" Ferdinand asked in confusion.
Metev explained: "On February 22, 1898, the King of the Kingdom of Samoa died, and Britain and the United States and Germany had a fierce conflict over the succession of the throne.
However, the British gave in to the Germans, and the Salisbury government tried to ease British-German relations. The British transferred their interests in the Kingdom of Samoa to the Germans as compensation for previous Portuguese colonial issues.
And the Germans also obtained the right to build the Baghdad railway, and the British agreed to Germany to take free action on the Asia Minor Peninsula.
The German government has accepted the British compensation and agreed not to continue supporting the Boer and British wars! "
Ferdinand thought about it, and had some headaches. Bulgaria is still too weak now. These international diplomatic games are simply not qualified to participate.
Ferdinand was very worried about the interest deal between Britain and Germany. In the unlikely event that Britain and Germany reach a comprehensive compromise, and an alliance is really formed, then things will really be great!
Not to mention the Russian League, even if all Italy, the United States, Japan, and the Austro-Hungarian Empire were brought over, it would not help. Even if all the other countries in the world add up, they are not the rivals of the two countries!
Of course, Ferdinand knew that this situation was unlikely.
John Bull cannot tolerate European unification, and it is impossible for French or Germans to unify Europe.
Judging from the current situation, Germany's economic development in recent years has been surprising. Ferdinand also knew that after the 20th century, the Germans were crazy!
Unless John Bull is willing to give up the position of world leader, otherwise the conflict between Britain and Germany cannot be eased. Irrelevant interests, when the Germans are strong, naturally threaten the British status.
As for the Americans with faster economic development, they have been ignored. In addition to the fact that the United States is far from Europe, it also has weak military strength.
The core problem is that the United States does not have a dominant nation. If the war explodes in the United States, their endurance is the worst. Once underwind, it is easy to split!
Of course, this was generally considered by European powers at the end of the 19th century. As for whether it is true or not, no one knows it before! But it cannot be denied that the ethnic conflicts in the United States at that time were indeed very fierce!
These things, Ferdinand can only pay attention to it at any time to facilitate standing in the international diplomatic game. In principle, it is on the winner side!
...
At this time, an undercurrent has begun to spread in Russia. It is true that Jewish bankers felt that the time had come for harvest and were preparing to cut a wave of wool on the Russian stock market. Of course, other consortia also had a share. The Russian financial crisis was imminent.
But no matter who it is now, no one expects that the harvest in the stock market will seduce the Russian financial crisis, and then a more serious economic crisis is brewing, which will affect the whole world.
The bear bear's money is not so easy to get. The Jewish bankers made a lot of money, and then they suffered the ordinary Jewish people to suffer for them. Then Russia launched the Anti-Jewish movement!
Of course, even if we knew that there would be such serious consequences, the capitalists would not show mercy, and the lives of fellow citizens would be worthless!
Otherwise, there will not be so many anti-Jewish movements in the world. It can only be said that Jewish capitalists are too deadly, and ordinary people can only be considered incidental!
Of course, none of this is known yet. Even Ferdinand only remembered that at the end of 1899, Russia's financial crisis broke out, which led to the economic crisis and spread to the world.
As for the specific cause, after the economic crisis broke out, Ferdinand figured out the cause and effect. Now he is still busy lending!
"Mr. Kennedy, how's the loan going?" Ferdinand asked with concern.
Chancellor of the Exchequer Kennedy said with a bitter smile: "Your Majesty, the first loans have already been obtained. But do we really need to borrow so many loans?
If the previous loans were added, so far, the Bulgarian government has owed international loans totaling 1.5 billion levs to Britain, France, Germany, Russia, Belgium and other countries; it also owes three major domestic banks, totaling 380 million levies. Eve's commercial loans; and government bonds of various types, totaling 220 million levs!
These add up to 2.1 billion levs, which is four times our fiscal revenue. If you add the 500 million levs to be loaned later, it is 2.6 billion levs. The annual interest expense is up to 200 million levs. This ratio is too high, right? "
After Ferdinand succeeded to the throne in Bulgaria, the exhibition in Bulgaria has been very fast. Fiscal revenue has increased tenfold compared to 1887, and the comprehensive national strength has also increased tenfold compared to 1887!
As fast as the Bulgarian exhibition, there is also debt. From the initial foreign debt of less than 200 million levs, it snowballed to 2.1 billion levs, and there is still a trend to continue to expand!
Debt and national power growth have been directly proportional, this is the status quo in Bulgaria! Ferdinand is indifferent. There is the pressure of world war. In his heart, everything is centered on the growth of national power. Everything else is sidelined, but others can't stand it anymore!
Constantine said anxiously, "Yes, Your Majesty! Our debt growth is really too fast. If we do not restrict it, the interest rate alone will bring us down!"
Ferdinand was suddenly shocked. Unconsciously, Bulgaria had already owed a huge amount of astronomical figures. In case of any accident in life, the Bulgarian government might follow the Greeks!
"Let ’s do this. Our current economic aggregate has greatly increased compared to before, but our currency volume has always been unable to keep up with the economic growth. Otherwise, we have to find a way to add a batch of currency to alleviate fiscal pressure!" Fei Dinant thought about it
The Minister of Finance said with a bitter smile: "Your Majesty ~ EbookFREE.me ~ We have also thought about this problem, but the gold standard implemented in Bulgaria, our gold reserves are insufficient, if you rashly increase the currency, it will easily cause currency depreciation!"
Ferdinand pretended to be surprised: "Is there no way to solve the problem of gold? The Balkans are also the main gold producing areas in Europe. Now the main gold mines are in our territory, can't we get enough gold? ? "
That's right, Bulgaria's debt is increasing, and the economic aggregate is increasing, that is, the amount of money is insufficient. Everyone knows that printing money is the most profitable.
It is a pity that this is the gold standard era. To print money, you must have a certain amount of gold as a reserve. Otherwise, in foreign trade settlement, other countries will not
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