1850 American Gold Baron

Chapter 210 Liang Yao Award

The news that Bank of America came forward to assist the government in rescuing the market made many people and government officials, especially officials from the Ministry of Finance, full of goodwill and praise for Liang Yao.

It wasn't until the New York Post published an article titled "Who Are the Robbers of Wall Street?" that New York citizens' attitudes toward Liang Yao became polarized.

Especially those speculators who lost all their money in the gold market, they hated Liang Yao.

Many of the contents stated in this article are facts, but there is insufficient evidence.

But those bankrupt speculators will not reason with you, and they all believe that Liang Yao is the culprit that caused them to go bankrupt and return to poverty.

Little did they know that the culprit that caused them to go bankrupt and return to poverty was not anyone but their own greed.

Liang Yao ignored the groundless accusations made by those speculators.

He will not humble himself and step down to confront these speculators. Since the article was published by the New York Post, let the New York Evening Post come forward to confront the New York Post.

Now the "New York Evening Post" is no less influential in New York than the "New York Post."

The price of gold rose crazily and fell rapidly. On the third day after the government came to rescue the market, the exchange rate between the U.S. dollar and gold returned to its original starting point.

The success of the bailout made both Corwin and Fillmore breathe a sigh of relief, feeling fortunate to have preserved the credit of the U.S. dollar and the U.S. economy.

In Vanderbilt's manor, curses could be heard from the outside from time to time.

"I never thought you could become someone who would have such polarizing opinions in New York after me."

Vanderbilt frowned and said as he listened to the curses coming from outside the manor.

"I asked people to drive them away."

The Polar Star's unsuccessful maiden voyage allowed Vanderbilt to return to New York early. He was a relatively optimistic person. He was glad that the accident did not happen during the journey to Europe and make him embarrassed in front of the European countries.

"No need, they're just a bunch of gambling dogs who can't afford to lose."

Liang Yao didn't take it seriously. After polishing the plan for the expedition to Japan, Liang Yao asked Coney to hand the plan to Fillmore.

Fillmore and his cabinet are still negotiating with the so-called Qing delegation visiting the United States on the "Qing-U.S. Free Immigration Treaty," and the results will surely come soon.

"Speculators are indeed annoying. With luck, speculation can make individuals rich, but it does no good to the country."

Vanderbilt was also disgusted with these speculators who put all their hopes of making a fortune in the speculative market.

After polishing the Japanese expedition plan, Liang Yao then polished another article.

Liang Yao plans to establish an award in his name to reward outstanding inventors around the world.

Of course, just an award is of no use. For most people, the benefits are far more attractive than the fame.

He plans to set up a foundation with US$1 million, and use the foundation's annual income as bonuses to the winners of the Liang Yao Award.

The winning inventors will not only receive pure gold medals and bonuses, but also have priority in receiving funding from Liang Yao and the opportunity to set up a laboratory in California to specialize in research and inventions.

However, in the mid-19th century, various disciplines were not yet complete. Liang Yao did not plan to subdivide the Liang Yao Award into multiple awards for the time being, but only set up an invention award in a very general way.

All inventions can participate in the selection of the Liang Yao Award, and there are three winners in each session.

In addition to receiving corresponding bonuses, the winners of the Liang Yao Award will also receive priority funding from the Americas Group, which will provide the best research environment for these outstanding inventors.

Although the United States' national power and influence at this time were far inferior to those of the European continent, it still had its advantages over the European continent.

That is, the United States has a more relaxed and active social atmosphere, a relatively complete patent system, and is more friendly to inventors who make inventions.

There are even people in the United States who make a living by selling patents.

Liang Yao wanted to bring these people to California to contribute to the construction of California.

California is currently short of people, and it’s not just the labor force, but also talents, such as inventors, engineers, and industrial workers.

"I agree with your point of view."

After polishing the article, Liang Yao put down the pen in his hand and asked Vanderbilt: "I heard that you have purchased some shares of the New York Central Railroad Company and the Lake Shore and Michigan Railroad Company."

"Yes, it cost me a full $2.2 million," Vanderbilt muttered.

"Spending $2.2 million to become the president and controlling shareholder of these two railway companies, are you still not satisfied?

Counting the Stonington Railroad Company and the New York and Harlem Railroad Company, you are now the president of four railroad companies." Liang Yao said.

This is a typical example of Vanderbilt getting a bargain and doing well. In the past, it would have cost at least seven to eight million US dollars to complete the control of these two railroad companies.

"I plan to merge these four railroad companies to facilitate management." Vanderbilt expressed his thoughts.

"Only by merging these four railway companies can I have the strength to compete with the Erie Railway Company and your railway company.

How is your acquisition of the Baltimore and Ohio Railroad going? So far, I have heard nothing about your acquisition of Baltimore and Ohio Railroad stock."

"The Baltimore-Ohio Railroad Company is in a serious financial crisis. It is more cost-effective to buy their bonds than to buy stocks directly." Liang Yao said calmly.

With the current situation of the Baltimore and Ohio Railroad, he only needs to convert a portion of the bonds to complete his control of the railroad.

His plan was also to merge the Delaware and Hudson Railroad Company with the Baltimore and Ohio Railroad Company to form the Atlantic Railroad Company, which would be responsible for operating railroads in the east.

Of course, his development focus is still in California and he will not invest too many resources in the eastern railway industry. After all, California is his home base.

The main purpose of establishing the railroad company in the east was to build the Pacific Railway across the North American continent in the future.

If you want to get rich, you must first build roads to connect California with the more economically developed eastern regions and the Great Lakes industrial areas rich in mineral resources. Only then can California's economy take off further.

The news of the Liang Yao Award was published in the New York Evening Post and New York Herald the next day.

It is unprecedented in the United States to set up a foundation with one million US dollars and use the annual income of the foundation as bonuses for the winners.

Even the government has not given such generous rewards to inventors.

This is a million dollar foundation!

One million US dollars can produce an income of at least 30,000 to 50,000 US dollars per year.

In an era when one can achieve financial freedom with one or two thousand dollars, this bonus is undoubtedly an astronomical figure.

Once this news was announced, those voices that slandered Liang Yao completely disappeared.

Prior to this, the wealthy people in the United States were notoriously stingy, and no wealthy person was willing to spend even $10,000 to reward the inventor.

The inventors are even more eager to take action, hoping that their inventions will be recognized by Liang Yao and win prizes.

Suddenly, a large number of letters poured into Liang Yao's office and were placed on Liang Yao's desk.

There is no doubt that these are letters sent by inventors to Liang Yao, hoping that their inventions will be recognized by Liang Yao and win awards.

Of course, there are some aspiring inventors who hope to get Liang Yao's sponsorship and support to solve their worries so that they can devote themselves to invention and creation.

Liang Yao had already been looking for patents that would be useful to him at the Patent Office, and he already had a candidate for the first Liang Yao Award in his mind.

(End of chapter)