Why did Hu Xueyan go bankrupt? What is the real reason for Hu Xueyan s bankruptcy?

Red-topped businessman Hu Xueyan: Why did he become the richest man in 30 years from scratch, but why he was on the verge of bankruptcy overnight.

Hu XueyanThe real reason for bankruptcy was that his home was raided.

Hu Xueyan has a lot of money, and he went bankrupt because his house was raided. Because when preparing the funds, Hu Xueyan reported the interest on the loan to the imperial court a little higher, so he was Zuo Zongtang.

's sworn enemy Li Hongzhang.

I learned about it, so I played it to the court. The Empress Dowager Cixi confiscated all his family property and seized the Hu Mansion. He went bankrupt in 1882 and died in 1885.

Hu Xueyan, born in 1823, was a famous red-capped businessman who became rich for a while. In Shanghai at that time, because the imperial court was going to fight in the west, in fact, the imperial court did not have so many military voices and reserve funds. Therefore, Hu Xueyan was ordered to prepare a financial loan for the imperial court.

So Hu Xueyan was the commander of the westward expedition for the demolition.

Zuo Zongtang prepares funds.

Hu Xueyan's bankruptcy is a detailed process

In the eighth year of Guangxu (1882), Hu Xueyan opened a silk factory in Shanghai, consuming 20 million taels of silver and raw silk.

** day decline, according to his observation, the main reason is that the Chinese businessmen are fighting for themselves, and the foreigners control the ** power, and Hu Xueyan sits in the village. Began to collect millions of quintals of domestic new silk. Both sides have reached the limit of patience, and when they see that the winner or loser is decided, who knows that the "celestial phenomenon" has suddenly changed greatly.

European Yihong jujube Dali raw silk suddenly harvested.

This is already the case, Hu Xueyan lost 10 million taels, half of his family assets were gone, the turnover was not effective, and rumors spread everywhere. Bureaucrats in various localities competed for deposits and started extortion. In November, the local businesses closed down, the family property was sold, and Hu Qingyutang changed hands, announcing the closure of the house.

Then, the Empress Dowager Cixi ordered the dismissal and investigation, and the brigade was in an uproar to strictly pursue the crime.

Hu Xueyan later fell ill and died.

In the ninth year of Guangxu of the Qing Dynasty (1883), its industry was forced to sell at a low price and its assets were halved by the competition of local bureaucrats to withdraw money and extortion, which caused the capital turnover to fail. In the end, Hu Xueyan was dismissed from his post and his family property was confiscated.

On July 27, the 11th year of Guangxu of the Qing Dynasty (September 5, 1885), Zuo Zongtang died of illness in Fuzhou. In November of the same year, Hu Xueyan died depressed in poverty and hatred.

With his outstanding business talents, Hu Xueyan used the official bank to set up a private bank in Shanghai, and later set up a branch of the "Fukang" money bank all over the country, and was known as the "God of Living Wealth". In Hangzhou, the "Huqing Yutang" Chinese medicine store was established, and the "Plague Avoiding Pill", "Marching San" and "Eight Treasure Pills" were produced for the needs of the military and civilians, and the pharmacy has been inherited to this day, winning the reputation of "Jiangnan Medicine King".

Later, he died by himself, but because he made a big mistake, the Empress Dowager Cixi wanted to kill him, but the local ** maintained him, and kept dragging it out, and waited until the next day after his death to arrest him.

After decay, he slowly died at the age of 59.