1850 American Gold Tycoon
Chapter 512: Economic Crisis
"General, the British are really bullying, and they do not do business properly. They maliciously raise prices to squeeze us out of Asia. Now they have repeatedly provoked our company's merchant ships because of their large number of ships.
With so many routes, our fleet of more than 20 ships simply cannot cope with them. "
Sven took the opportunity to express his bitterness to Liang Yaoda.
To be honest, Umbrella's fleet is not weak, at least it can move sideways on the borders of Asia and America.
However, compared with the maritime power of the British Empire, Umbrella's maritime power is too small.
Although as new ships have been put into use one after another, Umbrella's fleet has gained some advantages in quality. But because the disparity in numbers between the two sides is not of the same magnitude at all. In the competition between Umbrella and the British East India Company on commercial routes, Umbrella was still at a clear disadvantage.
The strength accumulated by the British East India Company for more than two hundred years cannot be shaken in just a few years.
Sven wanted to take this opportunity to buy more warships, although these warships were relatively expensive.
"I just told a little story to Mr. Vanderbilt, now let me tell you a story too." Liang Yao said.
"General, please tell me." Siwen was looking forward to Liang Yao's story.
"Two knights are dueling. One knight is strong and powerful. He has fought hundreds of duels without losing. He is the most powerful knight in the country. The other knight is an unknown knight, a fledgling new knight. , I have never participated in any duels before." Liang Yao asked thoughtfully.
"In short, the strength of the two of them is not at the same level. If you were the new knight, what would you do?"
"What else can you do after you've already entered the duel? Draw your sword and do it!" Sven said without thinking.
"Even if you can't win, you can't let the opponent look down on you and let the audience laugh. Otherwise, you will be a knight in vain!"
"That's right, Sven, I believe you know what to do." Liang Yao agreed.
He did not expect to be able to reverse the suspicion with the British East India Company in a short period of time, but at least he could not allow the other party to advance further and take advantage too easily.
His bottom line is to keep the four maritime trade routes from the west coast to Hawaii, Hawaii to the East China port, Borneo Island, and Australia open.
"But general, please give this new knight a better armor and a sharper sword!" Sven said with a shy face.
————————
Despair was like an oncoming storm, suddenly sweeping across Wall Street, New York, and even the entire United States.
Wall Street was once the palace of money, but now it has become a place of endless despair. People's eyes were full of confusion, helplessness and despair.
It was like a sailboat that had lost its sails and helmsman, drifting aimlessly on the sea, waiting to be mercilessly swallowed by the sea. At this moment, Wall Street no longer seems to be a symbol of glory and status, but has become a hopeless and broken dream.
Some people sat slumped on the ground, holding their heads and shouting at the sky and the earth. Some people beat the table angrily, as if they were roaring at the whole world. Hoarse shouts, cries for help and cries intertwined together into a symphony of despair.
Their dreams were shattered and their hopes were taken away. They seemed to be trapped in a bottomless abyss with no way out.
Wall Street is not in ruins, but the hearts of Wall Street are.
"Get out of here, you dirty country bumpkin!"
A farmer wearing a cheesecloth shirt, a torn woolen vest, and muddy leather boots was scolded and pushed out of the bank by bank employees.
The noise alarmed Corwin, a former finance minister and cabinet minister who was passing by.
Corwin opened the silk curtain in the carriage compartment and looked up and down through the glass window at the country bumpkin who was driven out of the bank.
He looked like he was a farmer from the suburbs.
"Liar! Liar! You are all fucking liars! You used your sweet words to defraud my land! I will send you to hell right now!"
The farmer threw away the paper in his hand that was once priceless to him and filled his life with hope and motivation. A calloused hand reached into the dirty wool vest. Soon, he took out a dagger and roared. Rushing towards the bank clerk who pushed him.
"You have better brains than me, you are richer than me, and you have a noble status, but like me, you only have one life!"
"stop!"
Corwin yelled hurriedly when he saw the agent hired by the bank raised his revolver at the farmer.
But it was too late. After two gunshots, there was a brief silence around Corwin.
The corner of Corwin's mouth couldn't help but twitch. Finally, he ordered the coachman to stop. After the carriage stopped, Corwin slowly walked out of the carriage with the civilized stick in his hand.
"Your Excellency, I apologize for disturbing you!"
The two detectives who fired saw that Corwin was neatly dressed and showed the aristocratic air of New York in every gesture. Knowing that this was a big shot they could not afford to offend, they hurriedly stepped forward to apologize to Corwin.
Corwin just waved his hand expressionlessly. He bent his noble waist, picked up the paper ball stained with grease and blood from the stone floor, opened it and smoothed it.
After the paper was smoothed, Corwin finally saw clearly what was on it.
This is the hottest RMFB in the American financial market in recent months, which is the Railroad Farm Mortgage Bond.
Corwin turned around and was about to return to the carriage when he suddenly heard the dull sound of flesh and blood touching the ground.
Corwin subconsciously glanced towards the source of the sound. It turned out that someone had jumped from the building, but the person who jumped from the building was dressed more appropriately than the farmer just now. What he held in his hand was not a railroad farm mortgage bond, but an unknown railroad company. of stocks.
"Sir, it was better when President Fillmore and you were in office, and your Treasury Secretary was better. Everyone had a job and could make a fortune. Unlike now, when everything is a mess." Corwin's groom couldn't bear it. Zhu sighed.
Marv's knowledge is limited. He only knows that everyone lived well when Fillmore and his cabinet were in office, but after the new President Buchanan took office, everything became terrible.
"Go to Doyle's Cafe on Broadway," Corwin said to the groom.
He was in a terrible mood. He didn't want to stay in Wall Street, a suffocating place, for a moment longer.
Since the New York Municipal Building is located at the north end of Broadway, this bustling street was crowded with people protesting and taking advantage of the chaos to shop, and the road was almost blocked by the flow of people.
Fortunately, Corwin's groom was very smart. He called out Corwin's name and his former position.
People were actually full of love for the former finance minister and consciously made way for Corwin. Many people even asked Corwin to re-serve as finance minister.
Hearing these words, Corwin in the carriage just shook his head and smiled bitterly.
"Your Excellency Corwin, you are a rare visitor."
Doyle, the owner of the cafe, saw that Corwin was coming and hurried forward to entertain him personally.
Few people in the American officialdom say it for a moment. These former high-ranking officials of the federal government, after leaving office, are still local sages with rich social resources, high reputation and influence. Naturally, Doyle would not dare to neglect such a big shot.
"Everyone is missing you and President Fillmore." Doyle led Corwin to find a good seat and sit down.
"Sir Corwin, long time no see." As soon as Corwin sat down, someone came up to him and said hello.
"Oh, it turns out to be Mr. Van Daze. I was just thinking about feasting my eyes on your Crystal Palace Shopping Mall, but I didn't expect to meet you here." Corwin enthusiastically invited Van Daze to sit down.
Kerwin and Van Daze had met several times, and he was no stranger to the American retail giant. However, Kerwin did not recognize the thin-faced man standing next to Van Daze.
"Fortunately you didn't go." Van Daze shrugged.
"Why did you say that?" Corwin was a little surprised.
"There are people looking for death everywhere. Those lunatics treat my shopping mall as their tomb. People who jumped from the building broke several pieces of glass. There are also those gangsters who take advantage of the chaos. At night, they are simply lawless." Van Daze complained. road.
"Crystal Palace Mall has been closed since yesterday."
Crystal Palace Mall is the largest and most profitable mall in the United States. If the mall is closed for one day, Van Daze's losses are calculated in five figures. This made Fan Daze's heart ache, as if someone was cutting his flesh.
"Countless people's wealth has evaporated overnight, and riots are inevitable. We can only pray to God to save us from this desperate situation." Corwin said with a bitter smile.
"Look at my memory." Van Der Zee patted his forehead with sparse hair, as if he remembered something important. He immediately pulled Garrett to his side and introduced to Corwin.
"This is Garrett, president of the Atlantic Railroad."
Garrett also cordially shook hands with the former finance minister who had resigned.
"Nice to meet you. Are you the former president of Atlantic Railway or the current president?" Corwin was a little curious about Garrett's position.
Although the Atlantic Railway Company is not as good as the New York Central Railroad Company and the Erie Railroad Company, the two leading railroad companies in the United States, it is also one of the few large railroad companies in the East.
When he was still Minister of Finance, Corwin had heard about the Atlantic Railway Company. It was said that the controlling shareholder of the Atlantic Railway Company was his old acquaintance Liang Yao. It is rumored that another railroad company controlled by Liang Yao, California Railroad, will be renamed Pacific Railroad.
Of course, these are just unconfirmed rumors.
However, the rumors may not be false. In August, Corwin had heard that Vanderbilt and Liang Yao, the father-in-law and his son-in-law, were withdrawing investment from the railway industry.
Now it seems that these are not rumors, otherwise, Garrett would not be calm and calm drinking coffee with his old friend Vandaze in a cafe in New York.
"Thanks to Mr. Liang's trust, I have only been the president of Atlantic Railway Company since its establishment." Garrett chuckled.
The crisis also affected Atlantic Railway Company. In just two days, Atlantic Railway Company's stock price plummeted 16%, and US$270,000 evaporated out of thin air.
Fortunately, after experiencing a sharp drop on the first day, the decline in Atlantic Railway's stock price moderated on the second day.
After all, the Atlantic Railway Company was operating well, without much bubbles. It actually controlled the railway franchise in Maryland, as well as two lines from Baltimore to Philadelphia and Philadelphia to New York, which were so profitable that they were coin mints.
Although it hurts to lose $270,000, Garrett believes it is only temporary.
"There are not many railway company presidents who can sit here and drink coffee as calmly as you today." Corwin picked up a sugar cube and threw it into the steaming coffee. He asked while stirring the coffee.
"I heard before that Mr. Liang and Mr. Vanderbilt withdrew their investment from the railway industry. Is this true? You are working for Mr. Liang. I think you know some of the truth."
"Mr. Corwin has a keen eye, and Mr. Liang is really a prophet who can predict the future."
Now, the matter is no longer a trade secret, Garrett said bluntly.
"Mr. Liang specifically talked to me about this when he was still in New York. But I think there are many smart and astute investors in the United States. The railway industry is about to enter a cold winter. Mr. Liang is definitely not the only investor who can predict this."
“But Mr. Liang and Mr. Vanderbilt are probably the only ones who have the courage to withdraw their capital in a short period of time.” Corwin sighed.
"Fortunately, Mr. Liang and Mr. Vanderbilt entered the railway industry to disrupt the situation. Otherwise, most of the railways that have been built will become scrap iron. This is a waste of resources."
Garrett was an industry insider, and he knew that Corwin was talking about Liang Yao's launch of the Pioneer locomotive, which promoted the unification of the American gauges.
"Mr. Corwin, I would like to ask, I heard that the Michigan state government and the federal government are considering taking over the Michigan Central Railroad Company. Is this true?" Garrett asked.
Garrett has the idea of buying the bottom, but if the government takes over these railway companies, this matter will be much more troublesome.
"I have resigned and have little involvement in the government's affairs." Corwin let out a long sigh.
"I think Mr. Buchanan is in a dilemma now. Don't save it. The railway industry is too important to the American economy. Millions of people make a living on it. Save it. The federal government's finances are not tight. You are an industry insider. What do you think about this matter?"
In the 1850s, before the railroad bubble burst, the railroad industry contributed as much as 26% to America's gross national product, making it too big to fail.
In the past two days, Corwin's mind has imagined countless times how he would handle this matter if he were still the Minister of Finance.
Unfortunately, this is an unanswerable problem. Not to mention Corwin, even if Alexander Hamilton (the first Secretary of the Treasury of the United States and the founder of the U.S. monetary and financial system) comes back to life, I am afraid there will be nothing he can do to fix this matter.
"I don't know. I'm just the president of a railway company. This question is beyond my ability. But I know one thing, that is, everything must respect objective laws." Garrett paused and continued.
"Your Excellency, when you were in office, did you ever consider the issue of overheating in the railway industry?"
Garrett does not believe that a top businessman like Corwin who can serve as finance minister will be unaware of the overheating problem in the railway industry.
"Even if I thought about it, what could I do?" Corwin took out the crumpled railroad farm mortgage bond from his pocket, and the scene just now appeared in his mind.
"A farmer who knows nothing about finance dares to exchange all his land for this piece of paper. How can I save these greedy and crazy people?"
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