Chapter 142: Battle (Part 1)
The chill of early spring had just dissipated, and the tension between Da'an and Spain suddenly became intense.
According to the custom in the Central Plains, before officially breaking off relations, one must write a long essay, solemnly stating one's own generosity and benevolence as well as the opponent's shamelessness and vulgarity, prepare public opinion to stir up morale, and firmly stand on the moral high ground. This propaganda campaign was led by Zhang Taiyue, a scholar of the Hanlin Academy and a minister in charge of the Ministry of External Affairs. He spent a long time conceiving and using all his energy to write it, which made it even more profound and mysterious with twists and turns, a moving and moving plot. The imperial edict is a magnificent work, and it may be selected into the classic collection of literature even if it is a detailed historical book in the future.
On February 12, the Cabinet and the Ministry of Foreign Affairs issued an imperial edict, advising the Spaniards to "pull back before it is too late" and "refrain from committing treason."
On February 23, the cabinet listened respectfully to the Holy Scriptures and issued another edict, listing the crimes of the Spanish, such as invading the coastal areas, supporting Japanese pirates, and looting merchant ships, and denouncing them bitterly, saying: "This is intolerable! What else can we not tolerate?" The Duke of Qi avenged nine generations of hatred, and the Spring and Autumn Annals praised him highly; the Westerners are so arrogant, do they really think that there is no one in China?
On March 5, the court's anger tank was finally full, and it decisively issued the last edict. Compared with the previous ones, this one was much more concise and clear, simply stating that things had come to this point and there was no turning back; the Westerners had brought this upon themselves, and should not say that they had not been warned.
The three imperial edicts were upgraded one after another, with strict logic and interconnected links, fully demonstrating the rigor and meticulousness of traditional politics. But if such a carefully crafted imperial edict was sent to foreigners in Southeast Asia, it would be like throwing a coquettish eye to a blind man; the Spaniards did get the full text of the edict through intelligence channels, but after laborious translation they were still confused and did not understand what it meant.
Although they had occupied Luzon for a long time, due to a certain deep-rooted contempt of foreign colonizers for the local empire, the Spaniards did not make any effort to understand this long-closed and conservative overlord that had occupied the East. They did have a few translators in their business dealings, but this time the edict was carefully crafted by Hanlin scholar Zhang Taiyue, with four parallel sentences and six straight lines, and extremely elaborate arrangements. The allusions were profound and the language was profound. Ordinary literati, let alone understanding the allusions from the "Spring and Autumn Annals" and the "Book of History", could not even recognize most of the words used in the imperial edict. The capitalists in Southeast Asia struggled with these ancient texts for a long time, but until Daan's fleet was ordered to depart from Tianjin and Zhejiang, everyone suddenly realized:
——Oh, the fight is about to start.
This is where the benefits of being well-informed come into play. Mr. Ruwang, a senior executive of the Bank of England who is in charge of commercial affairs in Eastern countries (yes, Ruwang has been promoted again), has a deep understanding of this. Of course, he could not read ancient Chinese, but he had received news from specific channels long ago and was fully prepared. When he read “Pull back from the brink of disaster”, he had already secretly raised funds; when he read “This is intolerable, what else can we not endure”, he began to invest his capital in the gold markets of Southeast Asia and India in installments; and when the final “Don’t say I didn’t warn you” came to light, Ruwang finally spent a fortune and went all in!
What do a few naval battles matter? In the vast financial battlefield, we must fight hard!
The development of facts was not at all unexpected. Under normal circumstances, the price of gold in Southeast Asia was very stable, at about 10,000 coins for one tael of gold, or 10 taels of silver for one tael of gold; but after the news of the development of China and the West spread, the price of gold in Southeast Asia rose accordingly, reaching the 15,000 coin mark a month later.
Fifteen thousand coins for one tael of gold! In just one month, the capital invested by Ruwang increased by 50%!
But is this the end? No, this is certainly not the end. On April 16, the Xingxian Emperor, which departed from Zhejiang, encountered the main flagship of the Spanish Navy, and the two sides engaged in a fierce artillery battle. After being bombarded by the improved model of Feixuan Zhenjun rockets for two and a half hours, the Spanish fleet was defeated and suffered losses. Five main sailing warships sank, three frigates were stranded, and the main fleet was also seriously damaged. It had no choice but to raise the white flag and request surrender, and was directly taken to the port of Fujian. On April 25, the results of the battlefield spread throughout Southeast Asia, and top capital was greatly shocked; the gold price, which had gradually calmed down, rose again and quickly broke through the 18,000-coin mark.
On May 10, the Empress Xingxian, which was escorting merchant ships in the Guangdong area, took the initiative to pursue the invading Spanish sailing gunboat formation and engaged in a battle in the waters near the Haojiang River. Because of the wind direction, the war did not last long and the Queen Xingxian only won a small victory; but the location where the conflict broke out was basically under the noses of various colonial capitals, and the effect was still extraordinary - what you hear is not as good as what you see, and after being there in person, the fear of war and chaos increased again. Gold and other hard currencies rose for the third time, with the price of gold stabilizing at the 20,000 yuan mark.
Late May, mid-June, late June, and July - in three months, there were nearly ten naval battles of varying sizes between China and the West. The odds of victory or defeat varied, but overall, Da'an had a huge advantage.
In the first stage of a normal war, as an invincible fleet that crisscrossed the seas, the Spanish navy dared to enter and exit any sea area at will, showing off its strength, and even bombarded the undefended coasts with naval guns in an attempt to force China to surrender; but after the disastrous defeat in the head-on confrontation, the fleet had to assemble for self-protection, trying to maintain military security with numerical advantage, and was forced to enter the second stage of the war; but the numerical advantage could not withstand the technological gap, and after being greeted several rounds by the Wanshou Emperor filled with iron nails and kerosene, the Spaniards could only retreat to the third stage of the war - they retreated into a few absolutely safe routes, relying on the support of colonial firepower to deter the enemy, and barely controlling the main navigation routes.
The Spaniards retreated again and again, and the Chinese advanced again and again. The original order in Southeast Asia became turbulent and chaotic, and the price of gold also rose sharply. Eighteen thousand, twenty thousand, twenty-three thousand, twenty-six thousand - when the war entered its third phase, gold finally reached its highest point in fifty years, an unimaginably high price:
It takes a full twenty-eight thousand coins to exchange for one tael of gold!
In just five months, gold has more than tripled!
——Of course, after it was confirmed that the scale of the war would continue to expand, the price of gold basically could not go down, and the high price was reasonable. But the risk of chaos in Southeast Asia is certainly the main reason for the surge to such a level in such a short period of time, but the supply and demand in the market is also an important stimulus. East Asia and Southeast Asia have developed for thousands of years, and all the gold mines that can be mined have basically been exhausted. Perhaps only Japan can tap the potential, but the overall supply is not sufficient. However, the Spaniards own the New World and can plunder the wealth of the Native Americans for tens of thousands of years and transport gold to the colonies continuously. Now the Spaniards were beaten worse than their grandsons, and of course the trade routes for transporting gold were cut off. With the supply of gold decreasing and the demand surging, it would be strange if the price didn't soar to the sky.
Such a crazy surge will certainly attract unprecedented attention. Over a period of several months, daring and fearless capital poured into the East, using a variety of financial tools to forcibly enter the market and greedily seeking huge profits from growth. Simply chasing the rise and selling the fall is no longer a big deal. Crazy adventurers are desperate and even mortgage all their properties, borrow huge sums of money from banks, and plunge into the crazy gold with wild shouts!
land? Sell! Real estate? Sell! Title? Sell! ——All assets and capital can be sold out, and as long as the cash is mortgaged and invested in gold, it can double in a few months. With such huge profits and such prospects, who wouldn’t like it?
The sound of a cannon is worth a fortune; a fortune of gold is not as valuable as the sound of a cannon! The capitalists’ painstaking efforts to run their business for decades are not as good as one round of cannon fire in a naval battle. The blood on the battlefield dissipates with the wind, but the financial feast and carnival will never end. Above the smoke and flames of war, there are the frantic groans of joy and endless desires of money and capital:
Money, money, and more money!
In this unprecedented feast, all capital has been subjected to severe tests. The one that stood out amid the storms and dangers was the battle-hardened Bank of England - Rothschild, and its senior Oriental executive Ruwang. The Sino-Western naval war came too quickly, and most banks were caught off guard. They simply had no time to mobilize funds to cope with this almost endless financial carnival. Only the Bank of England had planned in advance, with sufficient capital and attentive service. From then on, it became famous in Southeast Asia, stood out, and gained a huge advantage.
In July, Da'an finally launched a major move, adding fuel to the prosperous gold market. On July 2, following the central government's instruction that "if the enemy can go, we can go too", the Da'an Navy decided to change its previous passive defensive strategy to an active offensive to prevent danger before it happens. So it assembled all the ships built after years of coastal defense, set out from Guangdong, and headed straight for the Spanish ruling center, Manila, Luzon. The fleet engaged Spanish frigates in the waters off Luzon, sinking five sailing ships before breaking through the defenses and bombarding the city of Manila with heavy artillery, sending flames so high that they could be discerned hundreds of miles away.
As soon as the big move was released, the whole world was shocked. The gold price in the South Seas was even more powerful, and it broke through the 30,000 yuan mark - 31,000 yuan, 33,000 yuan, until it reached an unprecedented peak, an incredible height:
Thirty-five thousand coins!
However, the peak of 35,000 coins did not last long. By late July, the price of gold had fluctuated around 31,000. To put it bluntly, after more than 20 days of excitement, the over-excited capital has gradually calmed down. They managed to collect detailed battle reports of the Battle of Luzon and came to a relatively accurate analysis - although Da'an's fleet came with all its might and was very powerful, it did not cause fatal damage to Manila except for shelling the city and burning the port; the Spanish defense line was vulnerable, but they quickly organized a pursuit afterwards and decisively controlled the situation. The actual fighting between the two sides lasted no more than half a day, and it was not considered a truly large-scale, critical naval battle.
Winning or losing is important on the battlefield, but it is not the only thing. Of course the Chinese won the Battle of Luzon, but judging from the current balance of power, the Chinese can only "have the upper hand" but cannot convert that advantage into absolute victory, and it is difficult for them to completely eliminate the Spanish strongholds; their sneak attack on Luzon was basically just a strategic demonstration rather than a decisive factor in determining victory or defeat; in comparison, the Spaniards were in a state of disgrace and embarrassment, but at least they still had the ability to protect their own base and avoid complete defeat.
The victor was unable to sweep the country, but the loser was still able to survive; after several battles, the power of both sides had actually reached a stalemate, with neither side being in a state of limbo. The Chinese navy was built up in too short a time, and its foundation was too weak. Even with top-notch firearms, they could not deal with the Spaniards for long. In fact, the biggest loss suffered by Da'an in the naval battle was not even direct combat damage, but the sinking of ships due to operational errors while sailing. Even if the most elite sailors had been recruited, the experience of large-scale naval battles could not be simulated by training.
With such heavy losses, even if China could really try its best to destroy the colonial empire, there would probably not be much left of its navy.
The strength is at a stalemate, and neither side can change the situation on the battlefield. Instead, the war situation will fall into a strange balance. Balance means stability, and stability means order. Now that the balance has been established, the chaos and panic that previously fueled the surge in gold prices will gradually disappear, and the high gold prices will certainly not be able to be sustained.
...Besides, this wave of rise is indeed too exaggerated. Historically, the highest gold price in Southeast Asia was no more than 25,000 coins. Today, the price of gold has soared to 35,000 coins, which is largely due to the crazy speculative sentiment of adventurers rather than rational thinking of capital. As time went on, the heat of the moment wore off, and of course everyone could see that something was wrong.
Therefore, after July, a considerable amount of big capital began to make advance arrangements in preparation for the decline in gold prices. Even Ruwang, who was in charge of the entire process, felt sympathetic and privately reminded his Chinese partner, warning him that the gold price was about to collapse and to clear out the inventory on hand as soon as possible.
His partner, Yan Donglou, the Minister of Industry, the Minister of Foreign Affairs, the Minister of Japan Affairs, and the Minister of Customs Affairs, personally summoned the key figures of the Bank of England in the secret room of the Customs and conveyed the intention of the Central Government:
"Don't be impatient, wait and see."
"But--"
"No buts." Yan Xiaoge Lao said: "The central government has already made the decision, no buts."
·
Although the news was a step late, the analysis of Southeast Asian capitalists was still quite accurate. In fact, before planning the naval battle and mobilizing weapons, Qi Yuanjing was ordered to go south to work with Tan Zili of Guangdong to handle coastal defense affairs. He once met with the prince of Duke Mu and other important officials in the capital and gave a direct judgment on the war:
Judging from its current strength, Da'an may be able to suppress the Spaniards and achieve one or several major victories with the help of firearms and geographical advantages; but it is still a luxury to completely eliminate the power of the colonial empire. The so-called knowing when to quit means that the center should have appropriate expectations.
The prince listened carefully to his explanation and asked seriously:
"Is there really no way to completely solve this problem?"
"In my humble opinion, this is probably the case." Qi Yuanjing said, "Although preparations have been underway for several years, the navy still lacks ships and manpower, and does not have much experience."
The comparison of naval power is the simplest and most boring. The land army can also use clever strategies and take advantage of geographical advantages and people's hearts to overcome the lack of hard power. A naval battle is a one-on-one head-on confrontation that lasts until one side can no longer bear it. Daan didn't spend enough money on coastal defense, so the tonnage of its warships is not enough, and no strategy can make up for it.
The prince shrank back into his armchair and snorted.
"Not enough ships." He murmured in a low voice, almost talking to himself: "If a head-on confrontation cannot win, can we use guerrilla warfare? With the current level of technology, it is not impossible... Civilian ships are quite fast, and they are actually not bad for supporting... The vast ocean of the masses."
Qi Yuanjing was a little confused: "...what?"
"...I was wondering if we can mobilize the coastal merchants to join the battle?" The prince raised his head. "There is no need for a head-on confrontation. We can just harass the flanks and increase the cost of the Spanish cruise. If the enemy advances, we retreat; if the enemy stays, we harass; if the enemy is tired, we attack; if the enemy retreats, we pursue..."
Qi Yuanjing was silent.
"... a very sophisticated outline, a very profound mental method." He said: "Is this - is this the formula passed down by the prince's family?"
According to officialdom routine, General Qi should have flattered the prince directly instead of praising the Duke Mu's Mansion in a roundabout way. However, after thinking for a moment, General Qi still didn't think that the Prince of Duke Mu could come up with such a brilliant and experienced insight, so he had to think in the direction of the ancestral secret recipe.
"No." The prince said, "I plagiarized it, what's wrong with that?"
What can I do? Qi Yuanjing was stunned and had to shut up again.
"Then, General, please consider it carefully." The prince reminded him: "If there are no questions, the central government will prepare as soon as possible."
·
After the fleet launched a surprise attack on Luzon and Manila, both China and the West remained silent for a long time. The war was too costly and both countries had to lick their wounds. Apart from small-scale conflicts, they were temporarily unable to expand the war. The South China Sea became calm and the price of gold began to fluctuate and fall.
On July 25, the price of gold was 30,000 coins per ounce.
On July 30, the price of gold was 28,000 coins per ounce.
On August 12, the Battle of Manila had subsided for more than a month, and there was no sign of either side sending additional naval forces; panic gradually subsided, and the price of gold fell to 22,000 coins.
On August 19, the Da'an Cabinet, which had been silent for a long time, spoke again and issued an imperial edict, calling on coastal merchants to arm themselves, obey the unified dispatch of the navy, and expel the Spaniards from the South China Sea. At the same time, the cabinet lifted the ban on firearms that had lasted for many years and announced that coastal workshops would produce around the clock and supply unlimited weapons to merchants who were willing to obey orders and go to war for the country.
Firearms, maritime trade, unlimited quantity - after this decree, the imperial court finally played its last trump card.
This kind of trump card is certainly not easy to force out, and the decision is also difficult to make. In fact, if the inner treasury had not invested too much money and was not in too deep a trap, and if the private money had not been exhausted, the situation in the palace would have become so urgent that the True Lord would never have issued an edict that went against the will of Tiangang.
——There is no other way. They can’t really lose all their capital. The Zhu family is going back to the past and not forgetting their original intention. Should they live by begging in the future?
But no matter what, the final ripples of Feixuan Zhenjun Zhuzhuxia still had a miraculous effect. On August 25, as the imperial edict quickly spread to the South China Sea, the depressed gold price soared, destroying all the funds that were bearish on gold within a few days and once again breaking through everyone's psychological defenses!
On August 29th, the rapidly growing price of gold finally reached its most honorable peak - on that day, the price of gold in Southeast Asia was 42,000 coins per tael, unprecedented in history.
·
Many violent pleasures, with violent ends. When the gold price soared to over 40,000, the laughter and wailing in the exchanges across Southeast Asia were almost evenly divided, and the decadent despair and the crazy joy were intertwined and entangled with each other, making it impossible to distinguish.
In the market that had been rising for several days in a row, countless of the craziest and greediest adventurers who had been chasing to the end made a killing overnight; at the same time, countless capitals misjudged the market and were crushed to pieces by this final sharp turn, with their flesh and blood becoming the nourishment of the market. After the Battle of Manila, many financiers believed that the rise in gold prices had reached its limit, so they signed a bet agreement with the bank, betting that the gold price would fall at the appropriate time. If they had won the bet, the profits they would have gained would have been ten times or a hundred times, incalculable; but now, the bet had been decided, and the principal they had to pay out would have been ten times or a hundred times, and they would not be able to pay it off even in another thousand years.
Since it cannot be paid off in a thousand years, it can only be paid with something else. On the afternoon when the price of gold reached its peak, the walls and high-rise buildings of major cities in Southeast Asia were gradually filled with people. These trendsetters of the era never hesitated, leaped into the breeze, and painted a vivid background for this financial feast with their blood.
It should be said that this result is still very unexpected. The financiers' judgment on the strength of the two countries is actually correct. Based on this, their analysis of the future situation is also quite objective, accurate and logical. Under normal market conditions, these experienced and savvy capitals should be the winners and take all, clearing all the chips in the final stage.
What a pity, what a pity, there are always more powerful, more shameless and more terrifying forces in this world. When this force decides to personally enter the game, even the invisible big hands of the market will have to retreat three points.
Therefore, if future generations can really learn something from this financial feast, it is probably the comparison of power and the ups and downs of the general trend - never play the imperial power game between Nanyang and Da'an, unless you really want to experience bungee jumping from a high-rise building.
Of course, in the chaotic fight, most investors are hot-headed and confused, and may not have realized the underlying logic. But it doesn’t matter. The war between China and the West is not over yet. They will eventually learn from it slowly.
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