翻开世界铁路发展史,早在19世纪30年代,美、德等资本主义发达国家铁路就是通过股份制融资发展起来的。马克思曾经说过:“假如必须等待积累去使某些单个资本增长到能够修建铁路的程度,那么恐怕直到今天世界上还没有铁路,但是,集中通过股份公司,转瞬之同就把这件事完成了。”股票融资和债券融资成为当时铁路主要的融资方式,铁路吸引了大量的私人投资者,证券市场提供了将分散资金聚合为巨额资金的投资平台,从而迎来了19世纪的世界性筑路高潮。 In the 1830s, the United States, Germany and other capitalist developed countries developed railways through joint-stock financing. Marx once said: "If we must wait for accumulation to increase certain single capital to the extent that we can build a railway, then I am afraid that there will be no railroad in the world today. However, if we focus on the joint-stock company, it will be completed in a flash. The stock financing and bond financing became the main railway financing at that time, the railway attracted a large number of private investors, and the securities market provided an investment platform for aggregating dispersed funds into huge amounts of money, thus ushering in the world-building of the 19th century Road climax.