Complex sentence: In 119 BCE, Emperor Wu of Han looked about for ways to finance his expansionist policies, and at the urging of his Legalist advisors, declared salt and iron to be state monopolies.
Split into simpler sentences: In 119 BCE, Emperor Wu of Han required an increase in revenue to finance his expansionist policies. At the urging of his Legalist advisors, the emperor declared salt and iron to be state monopolies.