Chapter 512: Economic Crisis

"General, the British are really bullying. They are not honest in doing business. We can tolerate their malicious price increase to squeeze us out of Asia. Now they rely on their large number of ships to repeatedly provoke our company's merchant ships.

With so many routes, our fleet of more than 20 ships can't handle it at all."

Sven took the opportunity to complain to Liang Yaoda.

To be honest, the fleet of Umbrella is not weak. At least it can walk sideways in the territory of Asia and America.

However, compared with the maritime strength of the British Empire, the maritime power of Umbrella is too small.

Although the Umbrella fleet has gained some advantages in quality as new ships are put into use. However, due to the huge gap in the number of both sides, Umbrella is still at a clear disadvantage in the competition between Umbrella and the British East India Company on commercial routes.

The strength accumulated by the British East India Company for more than 200 years cannot be shaken in just a few years.

Sven wants to take this opportunity to purchase more warships, although these warships are more expensive.

"I just told Mr. Vanderbilt a little story, now I will tell you one too." Liang Yao said.

"General, please tell me." Sven was looking forward to Liang Yao's little story.

"Two knights are dueling. One knight is strong and powerful. He has fought hundreds of duels without a single defeat and is the most powerful knight in this country. The other knight is an unknown knight, a new knight who has never participated in any duels before." Liang Yao asked slowly.

"In short, the strength of the two of them is not at the same level at all. If you were the new knight, what would you do?"

"What else can you do after entering the duel? Draw your sword and fuck him!" Sven said without hesitation.

"Even if you can't win, you can't let the other party look down on you and let the audience laugh at you. Otherwise, you are not worthy of being a knight!"

"That's right, Sven, I believe you know what to do." Liang Yao agreed.

He didn't expect to reverse the perception of the British East India Company in a short time, but at least he couldn't let the other party get too far and take advantage too easily.

His bottom line is to keep the four sea trade routes from the west coast to Hawaii, Hawaii to the ports of East China, Borneo Island, and Australia open.

"But General, please give this new knight a better armor and a sharper sword!" Sven said with a shameless face.

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The mood of despair was like a storm that suddenly swept across Wall Street, New York, and even the whole of America.

Wall Street used to be the temple of money, but now it has become a place of endless despair. People's eyes are full of confusion, helplessness, and despair.

It's like a sailboat that has lost its sails and helmsman, drifting aimlessly on the sea, waiting to be swallowed up by the sea in the end. At this moment, Wall Street seems to no longer be a symbol of glory and status, but a desperate and broken dream.

Some people sat on the ground dejectedly, holding their heads and crying to the sky, and some people pounded the table angrily, as if roaring to the whole world. The hoarse shouts, cries for help, and crying are intertwined, converging into a symphony of despair.

Their dreams were shattered, their hopes were taken away, and they seemed to have fallen into a bottomless abyss, with no way out.

Wall Street was not in ruins, but the hearts of people on Wall Street were in ruins.

"Get out, dirty country bumpkin!"

A farmer wearing a coarse cotton shirt, a torn woolen vest, and a pair of muddy leather boots was scolded and pushed out of the bank by a bank clerk.

The noise alarmed the passing former Minister of Finance and cabinet member Corwin.

Corwin pulled open the silk curtain in the carriage and looked up and down at the country bumpkin who was driven out of the bank through the glass window.

He looked like a farmer from the suburbs.

"Liar! Liar! You are all fucking liars! You used sweet words to cheat my land away! I'm going to send you to hell!"

The farmer threw away the paper in his hand that he once thought was priceless and made his life full of hope and motivation. A calloused hand reached into the dirty woolen vest. Soon, he took out a dagger and roared at the bank clerk who pushed him.

"You are smarter than me, richer than me, and have noble status, but you and I have only one life!"

"Stop!"

Corwin saw the bank agent raised his revolver at the farmer and shouted.

It was too late. After two gunshots, there was a brief silence around Corwin.

Corwin's mouth twitched, and finally, he ordered the coachman to stop. After the carriage stopped, Corwin slowly walked out of the carriage with a civilized stick in his hand.

"Sir, I'm sorry to disturb you!"

The two agents who fired the gun saw that Corwin was dressed neatly and decently, and his gestures revealed the aristocratic style of New York. They knew that this was a big shot they couldn't afford to offend, so 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 oil and blood from the stone floor, opened it and smoothed it.

After the paper was smoothed, Corwin finally saw the contents clearly.

This was the hottest RMFB in the U.S. 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 hitting the ground.

Corwin subconsciously glanced at the source of the sound. It turned out that someone had jumped off the building. However, the person who jumped off the building was dressed more decently than the farmer just now. What he held in his hand was not a railroad farm mortgage bond, but a stock of an unknown railroad company.

"Sir, it was better when President Fillmore and you were in office, and your Secretary of the Treasury was better. Everyone had a job and could make a fortune. It's not like now, when everything is a mess." Corwin's groom couldn't help but sigh.

The groom's knowledge was limited. He only knew that everyone lived well when Fillmore and his cabinet were in office, but everything became terrible after the new President Buchanan took office.

"Go to the Daoer Café 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.

Because the New York Municipal Building is located at the north end of Broadway, this bustling street is crowded with protesters and people who take advantage of the chaos to shop, and the road is almost blocked by the flow of people.

Fortunately, Corwin's coachman was very smart. He called out Corwin's name and his former position.

People were full of love for the former Secretary of the Treasury. They consciously made way for Corwin, and many people even asked Corwin to return to the post of Secretary of the Treasury.

Hearing these words, Corwin in the carriage just shook his head and smiled bitterly.

"Mr. Corwin, a rare guest."

The owner of the cafe, Doyle, saw that it was Corwin who came and hurried forward to entertain him.

There is a saying in the American officialdom that few people leave and the tea is cold. These former federal government officials still control rich social resources after leaving office. Local sages with high reputation and influence. Doyle naturally dared not neglect such a big man.

"Everyone misses you and President Fillmore." Doyle led Corwin to find a good seat to sit down.

"Mr. Corwin, long time no see." As soon as Corwin sat down, someone came up to him and greeted him.

"Oh, it's Mr. Van Dazer. I was just thinking of visiting your Crystal Palace Mall, but I didn't expect to meet you here." Corwin warmly invited Van Dazer to sit down.

Corwin and Van Dazer had met several times before, and he was no stranger to this American retail giant, but he didn't know the thin-faced man standing next to Van Dazer.

"Fortunately you didn't go." Van Dazer shrugged.

"Why do you say that?" Corwin was a little surprised.

"There are people who are looking for death everywhere. Those crazy people regard my mall as their grave. The people who jumped from the building broke several pieces of glass. There are also those bandits who took advantage of the chaos to rob. At night, it is simply lawless." Van Dazer complained.

"The Crystal Palace Mall has been suspended since yesterday."

The Crystal Palace Mall is the largest and most profitable mall in the United States. If the mall is closed for one day, Van Dazer's losses are calculated in five figures. This makes Van Dazer feel like a knife, as if someone is cutting his flesh.

"The wealth of countless people evaporated overnight, and riots are inevitable. We can only pray that God will save us from this desperate situation." Corwin smiled bitterly.

"Look at my memory." Van der Ze patted his sparse forehead, as if he remembered something important. He immediately pulled Garrett to his side and introduced him to Corwin.

"This is Garrett, the president of Atlantic Railroad."

Garrett also shook hands with the former Secretary of the Treasury who had already stepped down.

"Nice to meet you. Are you the former president of Atlantic Railroad or the current president?" Corwin was a little curious about Garrett's position.

Although Atlantic Railroad is not as good as the two leading American railroads, New York Central Railroad and Erie Railroad, it is also one of the few large railroads in the East.

When he was still the Secretary of the Treasury, Corwin had heard of Atlantic Railroad. It is said that the controlling shareholder of Atlantic Railroad is his old acquaintance Liang Yao. It is rumored that another railroad company controlled by Liang Yao, the California Railroad, will be renamed Pacific Railroad.

Of course, these are just unconfirmed rumors.

However, the rumors may not be false. In August, Cowen had heard that Vanderbilt and Liang Yao, father and son-in-law, had withdrawn their investment from the railway industry.

Now it seems that these are not rumors, otherwise Garrett would not have been drinking coffee with his old friend Vanderbilt in a New York cafe.

"Thanks to Mr. Liang's trust, Atlantic Railway Company has only me as the president since its establishment." Garrett laughed.

This crisis also affected Atlantic Railway Company. In just two days, the stock price of Atlantic Railway Company plummeted by 16%, and $270,000 evaporated out of thin air.

Fortunately, after the first day of the plunge, the decline in the stock price of Atlantic Railway Company on the second day tended to ease.

After all, Atlantic Railway Company is operating well and there is not much bubble. It actually holds the railway franchise in Maryland, as well as the two lines from Baltimore to Philadelphia and Philadelphia to New York, which are as profitable as coin-making machines.

Although it is painful to lose $270,000, Garrett believes that this is only temporary.

"There aren't many railroad presidents who can sit here and drink coffee as calmly as you do today," Corwin asked as he threw a sugar cube into the steaming coffee and stirred it.

"I heard that Mr. Liang and Mr. Vanderbilt withdrew their investment from the railway industry. Is this true? You are working for Mr. Liang, so I think you know something about the situation."

"Mr. Corwin has a keen eye. Mr. Liang is really a prophet who can predict the future."

Now, this matter is no longer a trade secret, Garrett said bluntly.

"Mr. Liang talked to me about this matter 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, and there must be more investors who can predict this than Mr. Liang."

"But I am afraid that only Mr. Liang and Mr. Vanderbilt have the courage to withdraw their investment 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, which is a waste of resources."

Garrett is an insider. He knows that Corwin is talking about Liang Yao's launch of the Pioneer locomotive and the unification of the American track gauge.

"Mr. Corwin, I'm sorry 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 at the bottom, but if the government takes over these railroad companies, it will be much more troublesome.

"I have resigned and rarely ask about government affairs." Corwin sighed.

"I think Mr. Buchanan is in a dilemma now. If he doesn't save it, the railway industry is too important to the American economy. Millions of people make a living from it. If he saves it, the federal government's finances are not abundant. You are an insider. What do you think about this matter?"

In the 1850s, before the railroad bubble was punctured, the railroad industry contributed as much as 26% of the gross national product of the United States, which was so large that it could not fail.

In the past two days, Corwin has imagined countless times how he would deal with this matter if he was still the Secretary of the Treasury.

Unfortunately, this is an unsolvable problem. Let alone Corwin, even if Alexander Hamilton (the first Treasury Secretary of the United States and the founder of the American monetary and financial system) was resurrected, he would probably be powerless to save the situation.

"I don't know. I'm just the president of a railway company. This problem is beyond my ability. But I know one thing, that is, everything must respect objective laws." Garrett paused and continued.

"Sir, when you were in office, did you consider the problem of overheating in the railway industry?"

For a top manager like Corwin who could serve as Treasury Secretary, Garrett didn't believe that he would be unaware of the problem of overheating in the railway industry.

"Even if I considered it, what could I do?" Corwin took out the crumpled railway 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?"