Nanyang Storm 1864

Chapter 392 How much is the royal family’s assets?
A few months later
It was the end of January 1873, the Chinese New Year, and Manila, a burgeoning metropolis with a population of one million, was decorated with lights and filled with a festive atmosphere.

On the shores of Laguna Lake, northeast of Manila, there is a huge royal garden building. It is nestled against the mountains and beside the lake, with the sea and sky being clear blue, and the scenery is breathtaking.

This is the summer palace where the royal family of Chu State used to relax and have fun. It is located at the foot of rolling hills. The large area of ​​forest behind it is designated as the royal forbidden area and ordinary people are strictly prohibited from entering.

As you climb the steps along the mountain, you will see classical pavilions, a bell tower, and a seven-story pagoda on the top of the mountain. Bathed in the light of sunrise and sunset, it has a unique majesty of a royal garden.

In the pavilion halfway up the mountain
The climate here is like spring all year round, and there is a cool breeze in the pavilions. The mountain breeze brings the fragrance of wild flowers and soil, which is refreshing and makes it an excellent place for leisure.

King Zheng Guohui of Chu was wearing a light-colored long robe, had a beard on his chin, and his hair was simply tied up, but he had an extraordinarily unrestrained and extraordinary temperament.

He sat leisurely on the couch, listening to Baron Dong Baoshan, the chief steward of the Royal Household Department, who was standing beside him, reporting on all matters. He casually gave a word or two, and Dong Baoshan wrote them down carefully.

All the people in the Imperial Household Department were slaves of the royal family, not subjects. Although their relationship was closer, their status was much lower.

When the head of the Imperial Household Department reports back on matters, he must also stand with his hands hanging down respectfully. This is the rule.

"Reporting to Your Majesty, the palaces in Pontianak and Hawaii in the Southern Province are under construction, and the palaces in Donggang and Saipan have entered the final stage and will be completed in a few months.

There are six new palaces under construction, namely Samarinda, Banjarmasin, Nicaragua, Chieno Island, Tierra del Fuego and Blanca. The funds allocated by the Ministry of the Interior will be distributed in the first quarter to begin construction.

some of

Samarinda and Blanca were built according to the standards of a first-class palace, with each investment of one million silver dollars. Pavilions, towers and gardens were built. The others were built according to the standards of a second-class palace.

The planned investment for these six palaces is 416 million silver dollars, and approximately 2.2 convicts will be employed. The final settlement will not exceed 5%, which is roughly accurate."

After hearing this, King Zheng Guohui of Chu paused for a moment and then ordered, "The standards for the Nicaraguan palace in Central America should be raised. Let's set it at level one. This place is in a crucial location, and it should be a long-term residence during future tours to the east."

"I understand. I will immediately adjust the construction plan when I return. I will spare no expense and make the Nicaraguan Palace a priority."

"Well, yes."

Although Nicaragua is now an independent country in Central America, the king and his ministers never mentioned it in their words. The arrangement was carried out very naturally, which is quite thoughtful.

It is not just the United States that can see the Chu State's ambitions in Central America. Britain, France, Germany, Russia, the Netherlands, Spain and Japan can all see it, but so what?
The British followed behind and supported and encouraged the United States, and their intention of introducing a third-party force into Central America was not concealed at all, which made the Americans very angry but helpless.

If any country in Central and South America tries to ignore the Monroe Doctrine, the core of U.S. foreign policy, the Americans don't mind giving it a hard time, just like they sent two American cruisers to hit the Costa Rican government a few years ago.

But if it is the UK, cough cough... well, there is no problem. I hope the UK can respect America’s traditional interests and concerns in Central America. "America is America for Americans."

The Chu State's unscrupulous influx of Chinese immigrants into the Americas will greatly change the balance of power. The United States expresses strong opposition and solemnly protests this practice.

However, it was all in vain.

The British, as always, were interfering with Central America, secretly supporting the immigration expansion of the Chu State. In the words of Chamberlain, the British Cabinet Secretary of State for the Colonies:

"As a rising force in the development of Central America, the Chu State's participation is worth anticipating. There has never been such a thing as an 'America's backyard' in this world. Can you imagine the absurd scene of an American cowboy with black fingernails dreaming of owning a beautiful garden?"

"Chu is and will continue to be a close regional partner of the UK. We hope they can play a constructive and inspiring role in the Caribbean."

It was precisely because of the British that the Chu State's colonial expansion in Central America did not encounter any substantial obstacles, and the Americans had to endure it with only their noses pinched.

The other Central American countries are all weaklings. They are all top masters in internal fighting, but they are worse than the other in foreign wars. They have inherited the essence of the Spanish.

The once powerful Spanish Empire declined and perished amidst constant internal friction.

The Chu State implemented a slow and forceful infiltration method in Central America, using money and force to pave the way. The advantage of this approach was that it would not cause a strong backlash from local white forces.

Small Central American countries such as Nicaragua and Honduras do not have many native-born white people. Most of them are mixed-race local tribes who do not have much say.

The local security was in chaos. After the Chinese forces infiltrated in forcefully, they directly cleared the way with guns in one hand and gold coins in the other, and bought large tracts of land and ranches at prices 30% to 40% lower than the market price.

On one hand, there is the safety of the family, and on the other hand, there is the option of taking the money and leaving. The choice is self-evident.

Those stubborn and ignorant troublemakers were soon killed in the chaos, and even their wives and daughters were not spared, and the ranches and fields were still swallowed up.

The State of Chu was not short of money, so why did it resort to military invasions to pave the way for everything? It would inevitably be criticized by future generations.

Therefore, the current Chu State's colonial policy is trying a new track, that is, infiltration through gentle means such as money, trade, and culture, supplemented by powerful military force, and is making remarkable progress.

Admittedly, this gentle approach has significant limitations.

It is slow to take effect, takes a long time, and is limited to small countries with small populations. It is difficult to work on medium-sized countries with larger populations.

For example, in Guatemala, the most populous of the five Central American countries, Chinese immigrants are deliberately targeted by the local government and are generally rejected and escorted out of the country.

Today
There are no more than three or four hundred legal Chinese businessmen in the area, and most of them are ship merchants and traders in the port. Most of them are confined to Guatemala City and have very limited influence.

This is primarily because local American businessmen have great influence. This is the traditional base of American power, operating here for more than a hundred years, and there were close trade ties before the independence of the United States.

Once the Americans take action, Chinese immigrants will have no chance of survival.

This clearly reflects the power struggle in Central America today. As the dominant power and the most populous country in North and South America, the United States is the top power in terms of economy, military, and population. Its regional influence is far beyond the reach of Chu.

By the beginning of 1873, the U.S. population had reached 4270 million, with the annual influx of immigrants from Europe reaching one million, and the trend of rapid growth was becoming increasingly apparent.

Also at the end of 1872, the total population of Chu State reached more than 2188 million, almost half of the population of the United States. The economic development levels were similar, with Chu State slightly lower.

If Chu is a twelve or thirteen-year-old boy in his growth and development, content and ambitious, his frail body already fully developed, then America is a sturdy young man, already 20, with a small mustache, a brave and aggressive temperament, and eager to make a name for himself in the city.

The British are not much stronger than the United States, but relying on their profound historical heritage and the advantage of dominating the world for nearly 200 years, they have covered themselves with heart-pounding plate armor and held a sharp axe in their hands that can cut hair. This axe is called the Royal Navy of Great Britain.

The key is that with just a whistle, the British can attract a large group of thugs, just like the fierce bully of the city.

King Zheng Guohui of Chu was very clear about the roles of the three parties, so he was able to grasp the degree of influence very well. Since the United States did not want the Chinese influence to develop to Guatemala, it would be better to limit it to Nicaragua and Honduras.

The infiltration into Guatemala was brief and wisely withdrawn.

So in Central America
A certain tacit understanding has been formed between the United States and Churia, with the United States maintaining Guatemala within its traditional sphere of influence and Costa Rica, which it particularly values.

The other three Central American countries were left to the Chu State to deal with.

After reporting a few more things, Dong Baoshan, the chief steward of the Imperial Household Department, finally presented a thick expense ledger, which was at least as thick as four fingers stacked together.

These are the 1872 accounts of the Imperial Household Department, jointly audited by the Ministry of Finance and the Audit Office. Each audit team could only audit part of the accounts, and the summarized figures were extremely confidential, and neither the Minister of Finance nor the Director of the Audit Office knew about them.

For such a secret number, every bit less you know counts.

"How much is stored in the inner treasury?"

"Reporting to Your Majesty, by the end of 1872, the Imperial Treasury had a total of 3.6755 million silver dollars in reserves, in the form of gold reserves, current accounts receivable, and other forms."

"Well, not bad. I have finally saved some money." King Zheng Guohui of Chu said with approval without any surprise on his face.

Then he said, "Leave the account books here, and kneel down in greeting."

"Your Majesty, I will obey your Majesty's command and wish you good health and happiness! I will take my leave." Dong Baoshan said this with a deep bow, took a few steps back with a respectful expression, turned around and left quietly.

King Zheng Guohui of Chu pushed the heavy account book back with his hand, tapped it lightly with his slender fingers, and looked thoughtful.

The State of Chu has made a fortune in recent years by relying on its resources, and with the astonishing number of Chinese immigrants every year, there is huge wealth hidden in it, which is not a small amount of money.

Assuming there are 200 million Chinese immigrants, the ship ticket for each Chinese immigrant ranges from 49 to 99 silver dollars, which means a total income of more than 1.3 million silver dollars per year.

If the interest is included, the annual interest will be more than 10 million.

Accumulated over the years, the amount is quite considerable.

Apart from military and political expenditures, there was also a huge surplus used to promote industrialization across the country, develop heavy industry, the shipping and transportation industries, develop postal and telecommunications, and promote urban and rural infrastructure.

Among the eight major banks developed in the Chu State, the Royal Nanyang Bank is still ranked first. It is also the largest bank in which the Chu royal family holds the largest stake and is responsible for the issuance of silver and copper coins.

The gold reserves of the Royal Nanyang Bank alone amounted to 377 tons, 280% of which belonged to the royal family, totaling more than tons of gold.

This is just one bank. The Chu royal family holds varying amounts of shares and interests in seven other major banks, as well as varying amounts of gold reserves.

Some banks have tens or hundreds of tons of gold reserves, while others have more than ten tons. These are the golden signs of each bank and a demonstration of its financial strength.

Over the years

Part of the income from the Chu Kingdom’s treasury would be converted into gold and deposited in the bank, and another part would be deposited in the palace’s secret vault for emergency use.

In the secret vault of the Chu Palace, there are now more than 300 tons of gold accumulated, as well as a large number of antiques, precious calligraphy and paintings, ancient rare books, etc. purchased from Europe, America and northern China, all of which are stored in the treasure vault.

More than 300 tons of gold is only worth 10 million silver dollars in real terms, which is not a huge amount of money.

The Chu royal family systematically purchased treasures and antiques from all over the world every year, spending more than 20 million silver dollars for the royal collection and keeping them forever in secret vaults.

The royal treasury also stored 1.7 tons of copper ingots, thousands of tons of silver and tin, tens of thousands of pieces of silk and brocade, and other treasures, also worth millions of silver dollars.

The most valuable ones are bonds. For example, when Zuo Zongtang was raising funds for his western expedition to Xinjiang, the Royal Nanyang Bank took on a loan of 450 million taels of silver, using the customs as collateral, with an interest rate of up to 11.6%.

To repay Germany's 50 billion francs in war reparations, equivalent to 13 billion taels of silver, France borrowed 6 million silver dollars from a banking consortium led by the Royal Nanyang Bank. Of this, 5 million went to the Royal Treasury, at an average annual interest rate of 8.6%.

In addition, in the European market
The Chu Ministry of Internal Affairs secretly sent envoys to purchase a portion of the bearer franc IOUs issued by the French, which amounted to about 8500 million francs, with an annual interest rate of 9.5%, and a total value of about 2130 million silver dollars.

Including German bonds, British bonds, etc., the relevant bond amount exceeds 1.3 million silver dollars, and the total annual income is about million.

This is also an important source of income for the royal treasury. The principal and interest are repaid every year. In fact, the risk is not great and the income is quite stable.

In addition to the above-mentioned sources, the royal treasury also receives income from overseas assets and land acquired under the names of various companies, including economically developed New York and Philadelphia on the east coast of the United States, Chicago in the Great Lakes region, and San Francisco and Los Angeles in California on the west coast.

He also invested in properties in important European cities such as London, Birmingham, Liverpool, Edinburgh, Paris, Berlin, Vienna, etc., mostly in street shops, with annual investments reaching tens of millions of silver dollars.

The rest is invested domestically, mainly developing commercial blocks and collecting rents. It is an urban industry with circular value-added and has formed huge fixed assets.

How much money exactly?

It was difficult for King Zheng Guohui of Chu to explain it clearly. The British valued the Royal Bright Oil Company alone at more than 4.6 million pounds, equivalent to billion silver dollars. This price would only be underestimated, not overestimated.

The royal family owns 13.6% of the shares, which are worth more than billion silver dollars, not to mention the numerous copper mines and other large assets in the country, which are really difficult to count.

(End of this chapter)