Make France Great Again-Chapter 197: The Lever of Capital

Due to the enormous funds used for investing in gold mines, rashly putting this money into a newly established mining company will only incur the hostility of local bankers in the New Continent.

Although the funds that the bankers in the United States during this era could mobilize were far less than those of the established bankers in the Old Continent, the bankers entrenched in the Old Continent could leverage their local advantage of foreign capital from the Old Continent for strikes.

Despite the few "Pioneers of the Times" present were not afraid to engage in a financial war with those bankers from the New Continent, they similarly did not wish to engage in conflict with the local forces of the New Continent.

Once both sides are drawn into a protracted war, it could transform into tens of millions, or even billions, of financial warfare.

Caught up in a financial battle, they might no longer be able to focus on the gold mine business, which would be somewhat counterproductive.

"I suggest establishing a bank to manage these funds!" Jerome Bonaparte said, placing his hands together on his lap and smiling, as he looked at the bankers present and made his proposal: "The name will be Paris Industrial Bank, and it can simultaneously be announced as an investment bank!"

"Paris Industrial Bank?" Emile Pereire repeated Jerome Bonaparte’s words, a bit of a peculiar expression showing on his face, as if there was a sensation reminding him that the bank name was at odds with him.

Jerome Bonaparte also noticed the change in Emile Pereire’s expression, his heart slightly apprehensive.

He wouldn’t...

Jerome Bonaparte’s gaze revealed a hint of killing intent.

Only one traverser is needed!

"Mr. Emile, what’s the matter with you? Why the expression? Is it that the bank name doesn’t suit your taste?" Jerome Bonaparte asked Emile Pereire in a "friendly" tone.

Emile Pereire, recovering, instantly responded: "Your Majesty, it’s nothing! I just thought the name was somewhat..."

"Somewhat what?" Jerome Bonaparte asked with a smile.

"Somewhat indescribable feeling!" Emile Pereire shrugged helplessly and laughed.

"I see!" Jerome Bonaparte nodded, Emile Pereire’s expression did not reveal any clues to him.

Seems I was overthinking!

Jerome Bonaparte let go of the urge to quickly eliminate Emile Pereire.

Anyone who surpasses their era will always leave evidence of their existence, even if such proof is unconscious behavior.

From Emile Pereire’s actions and movements, Jerome Bonaparte saw no signs of anything beyond his era, thus excluding the possibility of him being a traverser.

"Perhaps it’s destined that you should become the manager of this bank?" Jerome Bonaparte joked amiably to Emile Pereire.

Emile Pereire and the other bankers appeared surprised.

In their view, the gold mine was discovered by the President, the investment was pooled by the President, the newly established bank should naturally be managed by the President himself. Even if the President couldn’t be involved in commerce due to regulations, it should be managed by someone close to the President to ensure control over the bank.

Unexpectedly, the President decided to have Emile Pereire serve as the bank’s president.

"Your Majesty, I..." Emile Pereire, dazed by the sudden opportunity, was somewhat at a loss for words.

"Mr. Emile Pereire, I know what you want to say!" Jerome Bonaparte spoke softly, then looked at Count Algou and others, saying: "I believe in Mr. Emile Pereire’s ability. You folks should have no objections, I assume."

"Since it is your Majesty’s Holy Judgment, we have no objections whatsoever!" Mane’s attitude clearly agreed with Jerome Bonaparte’s appointment.

Firstly because Mane was just nominated by Count Algou as a board member of the Bank of France, naturally needing to resolutely follow the President’s lead, and secondly, due to Mane’s close association with Achille Fuld, who frequently praised the Pereire Brothers. Receiving a positive evaluation from Achille Fuld is indeed rare in all of France.

Mane believed that even without this appointment, the Pereire Brothers would still be able to forge ahead in the future.

History proved Mane’s speculation correct; after the establishment of the Second Empire, Emile Pereire, with the support of Napoleon III, established the Paris Mortgage Bank, whose initial capital was 63 million francs, and quickly raised a large amount of funding, swiftly breaking through the yearly billion mark.

Having someone handl billions of francs in the future manage a mere 34 million bank felt like using a sledgehammer to crack a nut.

Of course, at this stage, the resources available under Emile Pereire’s Paris Discount Bank also hovered around 30 million francs.

The Pereire Brothers, who have spent nearly 20 million for the President, have demonstrated their loyalty through their actions.

Mane’s statement led the bankers, except for Count Algou, to set aside their concerns and support Pereire as the president of the soon-to-be-established Paris Industrial Bank.

"Your Majesty, isn’t it somewhat reckless to entrust such an important matter to Pereire?" Count Algou subtly suggested a dissenting opinion.

Count Algou did not doubt Emile Pereire’s ability; rather, he was displeased with Emile Pereire’s "radical" policies, always feeling that his "radical" strategies might plunge France into a debt abyss.

"Mr. Earl, we need someone like Mr. Pereire who dares to take risks!" Jerome Bonaparte, of course, understood why Count Algou opposed Emile Pereire; differing financial philosophies could significantly affect their impressions of each other.

Historically, the reason why Emile Pereire did not become a board member of the Bank of France was not only because of himself but also because the Bank of France was filled with many conservative bankers who feared Emile Pereire’s "radical" strategies would bring disaster to the bank. Thus, they did not nominate the Pereire Brothers to join the Bank of France.

Even so, the Pereire Brothers seized the opportunity and almost used Sava Bank as a lever to topple the Bank of France.

Who knew that, as a supporter of Saint-Sierrism, Napoleon III suddenly turned to financial conservatism and rejected the Paris Mortgage Bank’s request to issue banknotes through Sava Bank.

It was a dramatic scene where ministers were ready to fight to the death, wondering why His Majesty had surrendered first.

"The New Continent is different from the Old Continent; they won’t abide by the rules as we do. An overly conservative economic philosophy will only bind us!" Jerome Bonaparte slightly compromised, saying, "Let’s allow Mr. Pereire to serve for a while! If Mr. Pereire truly can’t perform, then we’ll dismiss him! What do you think of this?"

Count Algou remained silent for a moment, knowing this was Jerome Bonaparte’s bottom line.

"Mr. Pereire, I hope you can indeed make a mark! Only then will the President’s trust in you not be in vain!" Count Algou earnestly said to Emile Pereire.

Emile Pereire breathed a sigh of relief, knowing Count Algou had agreed to his appointment. He quickly promised Count Algou, "I will not disappoint everyone!"

"Good!" Jerome Bonaparte applauded Emile Pereire!

Several other bankers also applauded one after another!

After discussions with Jerome Bonaparte and Emile Pereire, it was decided to use the Paris Industrial Bank as the parent company to establish two subsidiaries in California and Mexico, and then have these subsidiaries cross-hold shares to inject capital into the gold mining companies.

"Don’t be afraid to spend money! No matter how much we spend, we can earn it back from those gold diggers! We must open up a channel for transporting gold from California to France!" Jerome Bonaparte "encouraged" Emile Pereire.

"Yes!" Emile Pereire responded to Jerome Bonaparte, already having devised a comprehensive "gold speculation" plan for California, an advanced version of Jerome Bonaparte’s original plan.

By leveraging the gold craze to speculate on land, then implementing an enclosure plan in California, acquiring a certain number of lands at low prices, they would then call for the establishment of a so-called "City of Gold" and go public on the New York Stock Exchange...

Emile Pereire did not realize that his "real estate-led" plan would create numerous unfinished buildings and countless bankrupt merchants in California, transforming it from a place where only gold diggers were harmed to a world where everyone in California was harmed.

The destruction caused by that crisis was so severe that the United States Federal Government and the Government of California had to investigate the originator of the real estate bubble.

After multiple inspections, they only traced it to a bank corporation in Mexico, and shortly afterward, the famous American Civil War began.

Once the war started, everyone’s attention turned to the war, and no one paid any more attention to the colossal real estate debt gap in California.

...

Led by Percy, Count Algou left the Elysee Palace. Just after stepping out, he recollected the events that had transpired in the Elysee Palace, silently reflecting on the changing times in his heart.

At the same time, he had some expectations for Jerome Bonaparte’s plans, as making money while being patriotic seemed too good to be true.

Thinking this, Count Algou got into the carriage.

"To the Police Department!" Count Algou commanded from inside the carriage.

The carriage carrying Count Algou quickly departed from the Elysee Palace and arrived at the Police Department.

Upon entering the Police Department, Count Algou was promptly greeted by Police Chief Kalie.

"By order of the President, I have come to visit Baron James Rothschild! Where is Baron James now?"

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