Chapter 256 American Canal Management Company
But Morgan thought again and decided that it was not worth worrying about it too much. The construction of the Panama Canal would take a long time and no one knew what the final result would be. It was just the beginning and we had to wait and see how things would develop next.
The most important thing at the moment is the Boer War. According to Morgan's estimate, the British government allocated 10 million pounds for military expenditure, and even if there is any left now, it should be almost gone. The losses caused by these defeats alone are not small. In order to continue to support the war, the British are likely to issue bonds.
Soon, young Morgan came in and described the situation in London. This was similar to what Morgan had guessed. After a series of defeats, the British people's support for the Boer War became clearer, and they supported the British government's tough stance against the Boers. But fighting a war requires money, which is a very practical problem.
"Wait a little longer. The British will definitely issue bonds. With the civilian forces in the UK, the pressure of bearing all the bonds is too great. Other countries are eager for the British to die quickly. I believe that the British will take the initiative to contact us." Morgan said to his son with great confidence, "Except for the United States, which has adopted a neutral stance on the Boer War, other countries are against Britain. The British don't have much choice. Be patient, my son."
"Father, the United Company seems to have acquired the rights to build the Panama Canal." Morgan Jr. mentioned this and said slowly, "This is also a big deal. Especially for the government and the military, the Panama Canal has a strong appeal. Such a large project will bring huge benefits."
"The benefits of what we are planning are equally huge." Morgan said insincerely, comforting his son. As for whether he was telling the truth, of course not. Seeing others making money, Morgan's heart was bleeding. For someone like him who would consider it lost if he couldn't find anything when he went out, there was nothing more heartbreaking than a huge financing that had nothing to do with him.
Moreover, once the construction of the Panama Canal begins, it will definitely receive support from the federal government. This is a project that is backed by the state. Being able to make money from the state is the best thing for a businessman. Now that this opportunity has become someone else's, Morgan still needs to adjust his mood.
Although the Nama Canal had nothing to do with him from beginning to end, in Morgan's eyes, this matter was related to him, and he already thought so.
In a country full of despicable people, it is not easy to be a patriotic capitalist. There are enemies all around, each with their own agenda. Sheffield thought he was different from those shameless bastards. Considering the huge risks, this time he was taking over for the country and helping the country accomplish what it wanted to do. The greatest hero is to take over for the country.
The new American Canal Management Company is inviting bids from the entire United States to recruit shareholders to start the construction of the canal. Priority is given to Dixie people, but Sheffield knows that it is probably not enough and some other funds will definitely be needed. After all, this is a large project of several hundred million dollars. The United Company currently does not have the ability to eat alone. Even if it can, it should avoid eating alone. If it eats everything by itself, the day when the antitrust law comes is not far away.
Of course, this is also Sheffield's way of comforting himself. In fact, he just doesn't have the ability to eat alone. If he had this ability, as long as there was someone next to him and talking to him like Gale and McHale, he would probably do it himself.
"In fact, Rockefeller Jr. has money and we can borrow some of it for financing." Anne also knew that her man was fighting an arduous battle against greed and it was very difficult for him to stick to the bottom line. She didn't want to see Sheffield distressed.
"No! His money is too expensive!" Sheffield rejected it without thinking. "If I ask for financing, I believe Rockefeller Jr. will not sit idly by. But it is definitely not because our personal relationship has reached the point where we share risks. He will definitely take the opportunity to modify the sharing period of the Texas oil field. I will not agree unless he adds other chips."
With the current output of Texas oil fields, it has long been recognized as the number one in the United States. Although Rockefeller Jr. has never spoken, Sheffield can sense that the other party wants to renegotiate the contract.
The profit from a Panama Canal project is not enough for Sheffield to extend the contract. Even if he sells crude oil at market price, the long-term profit will be more than that from a canal.
Sheffield would never do such a thing. If Standard Oil had any industry that could be used for exchange, the pharmaceutical industry might be tempting for Sheffield, but it is estimated that the Rockefeller family would not exchange it.
In terms of money, isn't there Boston First Bank? Sheffield should also give those families some feedback. As the original financing for Southern Electric, it was announced to the public that it was like this. It can't be said that it doesn't have enough liquidity and the risk of eating alone is too great, so it's giving you a discount, right?
A few days later, approaching December, Sheffield's Oak Manor welcomed the president of the San Francisco Chinese Association, Zhang Deqing. When he walked into the manor, Sheffield was carefully wiping a vase with a rag. It was said to be a product of the Qianlong period. As soon as he saw the aesthetic view, he believed it was almost certain.
"I don't know if the Spaniards have deceived me. If you have time, can you find a few people to identify it? By the way, you are from Jiangxi, and Jingdezhen is a place in Jiangxi, right?" Sheffield wiped the vase with his back to Zhang Deqing, and said bluntly that he needed his help.
"Boss, you are interested in porcelain!" Zhang Deqing smiled gently. Just when he wanted to show off his skills, he heard Sheffield say, "I don't like it. I like it because it is valuable. If it weren't valuable, I would think it takes up too much space. But some businessmen really like this thing. They don't have enough knowledge, so they like to use this thing to pretend to be elegant. There are many such businessmen in the United States."
Sheffield showed through his actions that you are overthinking this Chinese gentleman. In his eyes, everything has a price. As for any additional artistry, his eyes can only distinguish gold, not something illusory.
Zhang Deqing's face flushed red. He couldn't accept his boss's straightforwardness, so he said, "This is a vase from the Qianlong period. It..."
"The most important thing during the Qianlong period was that he eliminated the rebellious forces in Junggar and the Snow Region and expanded the territory by millions, not leaving behind such a vase!" Sheffield interrupted the other party and curled his lips, "Except for the land and population, everything else is fake. And I admire this emperor very much, and I don't mean to ridicule him."
This is a good TV series, but they don't shoot anything useful, and they focus on gossip every day. They only shoot Qianlong having sex with girls! Qianlong's treatment is relatively good, but when they shoot Emperor Gaozong of Tang, they only shoot Wu Zetian. For such a big event as destroying Goguryeo and the Turks, the presence of Emperor Gaozong of Tang and Jiajing is almost the same.
But this was not what Sheffield was concerned about. He threw away the rag, motioned Zhang Deqing to sit down, and began to explain his purpose. "The United Company wants to build a canal in Panama. The main company does not need you Chinese to do it. I have other arrangements. But some work on repairing the railway still needs manpower. You also know the local situation in Panama. You Chinese workers will definitely have much more freedom there than in California. At least you won't be excluded. To be honest, the Panamanians have no right to exclude you."
"It is undeniable that I have deceived you, but judging from the results, most of the Chinese workers who went to the Philippines are now living and working in peace and contentment, and they are self-reliant. They have their own businesses, although they are small. However, Chinese people in the United States cannot purchase any businesses." Sheffield pondered for a moment and said, "In Panama, it is expected that the joint company will have a greater say, and the cooperation between you and me is that you do a good job and I guarantee that you will not be disturbed."
The main project of digging the canal did not require Chinese people. Sheffield also needed to stabilize the country before fighting against foreign enemies. The fewer black people in the South, the better. Moreover, using Chinese and black people at the same time can form a contrast. As for the nature of black people, no one understood it better than him, the slave owner.
Using a large number of black people to dig the canal will definitely arouse resentment from the local people. Under this resentment, the Chinese will appear to be exemplary. Everything is based on comparison.
Moreover, once the United Company and the federal government reach an agreement on the status of the Canal Zone, it will become a country within a country. The impression left on Sheffield by the Chinese in Panama is that of the gambling god. "The President of Panama and I have some friendship!"
And now, the President of Panama must have some friendship with Sheffield!
This can be regarded as restoring history. History defenders like Sheffield feel very gratified, and they are even more gratified when they think that the number of black people in New Orleans will decrease.
As Christmas approached, several heavyweights from Boston First Bank came to New Orleans to have cordial conversations with their major clients. Since financing Southern Electric, their lives have become much better. They could barely keep up with Morgan's pace. Before that, they were almost left far behind by Morgan.
Regarding Sheffield's request for help with financing, Lowell said that this was exactly what they wanted. Even in the fields of automobiles and aircraft, as long as Sheffield opened his mouth, they could think of a way.
"That's not necessary. We can still handle that kind of emerging industry joint venture!" Sheffield politely declined the other party's kindness. Are these Boston families hallucinating because of the suppression by Morgan in recent years?
At the end of 1899, the American Canal Company was formally established and began to raise funds from the entire society through the First Bank of Boston!
(End of this chapter)
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