1850 American Gold Tycoon

Chapter 524 Cotton is unsaleable, help us

"General Liang, long time no see."

Robert Lee met Liang Yao at the Richmond train station and led Liang Yao and his party to a luxurious manor in the southern suburbs on horseback.

Although Robert E. Lee was born into a distinguished family, his father was a hero during the American Revolutionary War and served as the governor of Virginia. It can be said that he got off to a bad start.

However, the good times did not last long. Robert E. Lee's father, Henry Lee, failed to make loans and investments, causing the family to be heavily in debt and fell into decline. After his father's death, Robert E. Lee's brother, Charles Carter Lee, borrowed money again and failed to invest, resulting in another debt.

After some back-and-forth efforts from Robert E. Lee's father and brother, the Lee family completely withdrew from the ranks of Virginia's wealthy families before Robert E. Lee graduated from West Point Military Academy.

In 1829, when Robert graduated from West Point Military Academy with second place honors, his family was already impoverished and unable to provide material support for his career. He could only work as a grassroots engineer and staff member until he emerged during the Mexican-American War and became a rising star in the military world, which made him famous.

However, the financial situation of the Li family did not improve. Due to the huge debt, Robert could only rely on his salary and his own small estate to survive.

The luxurious manor in front of him, which was used to entertain Liang Yao, was obviously not Robert's manor. With Robert's limited financial resources, he could not afford to own a luxurious manor.

The manor belonged to Francis Willis Peake, a wealthy Southerner and the largest slave owner in Richmond.

Francis Willis Peake was a South Carolina politician, but he was not a Virginia politician.

This manor is just one of his private properties in Virginia. He has several other manors of this size in Virginia, South and North Carolina.

This man now serves as a federal representative of South Carolina and later became the governor of South Carolina in 1860. He was a staunch supporter of slavery in the South.

There is a positive correlation between the wealth of Southern states and the number of cotton plantations.

Because Virginia is located at the junction of the north and the south, the state's climate is relatively mild, with cold winters and relatively short summers. Most places in the state are not very suitable for growing cotton.

Therefore, Virginia's agriculture is mainly based on lower-profit tobacco, wheat and other plantations and family farms. There are only a few cotton plantations, mainly in the southern part of the state.

In addition, Virginia also has certain industries, and its economic structure is a transitional form between north and south. During the Civil War, Virginia contributed much of the pitiful industrial output in the South.

Virginia is not a typical Southern state. The most typical and wealthy Southern states are Georgia and South Carolina.

The Calhoun family, the Thompson family, the Alexander family, the Hammett family, and other extremely wealthy southern families all came from Georgia and South Carolina.

Because most American industrial products are shoddily manufactured, their overall quality is low. The financial resources of the rich in the north are actually not as good as those in the south.

The Liang Yao, Vanderbilt, and Astor families occupy the top spot on the list of America's richest people, followed closely by the southern rich, while the northern rich have serious gaps in this range.

If it is difficult to understand why these slave owners were richer than most factory owners and entrepreneurs in northern states, it is easier to understand if they look for a similar reference object.

The position of these southern slaveholders in the American economic structure is similar to the position of the Russian energy oligarchs in the Russian economy.

The difference is that Russian energy oligarchs enjoy relatively limited political rights and have no substantial military power.

The slave owners in the American South not only enjoyed abundant political resources, but also had real military power.

"Mr. Liang, please come in quickly."

A fat white man with a fat head, big ears, and a greasy body came up to him with a civilized staff. At the same time, Liang Yao was greeted by an indescribable smell produced by perfume mixed with foul body odor.

This ecstatic smell made Liang Yao couldn't help but raise his hand to cover his nose.

Robert saw Liang Yao's discomfort. He stepped in between the two and introduced to Liang Yao: "General Liang, this is His Excellency Francis of South Carolina."

Liang Yao just nodded lightly when he heard this.

Francis was an aide to Senate President John C. Calhoun during President Tyler's time, and John C. Calhoun came from the famous Calhoun family of South Carolina.

John C. Calhoun was Francis’s guide in political career and could be regarded as Francis’ mentor.

And Calhoun's death is inseparable from Liang Yao.

When California became a state in 1850, Calhoun controlled the Senate to try to prevent California from joining the Union as a free state, and even openly proposed a bill to send troops to California.

However, with Mason's defeat in California, Calhoun was finally ruined and died of anger under the thumb of thousands of people.

I wonder if Calhoun would be angry when he saw his former favorite student inviting and entertaining Liang Yao.

Seeing Robert standing between the two of them, Francis was a little displeased. He frowned and said, "Robert, please go to the side. Mr. Liang is my honored guest."

Liang Yao glanced at Robert's somewhat troubled expression and knew that Robert had some difficulty, otherwise he would not have introduced someone like Francis to him.

"I came to Richmond at the invitation of General Li. If General Li wanted to go to one side, I could only go to one side to cool down." Liang Yao said.

"Everything depends on General Liang." Although Francis was unhappy when he heard this, he had to give up. After all, he now wanted something from Liang Yao.

"Robert, did you invite me to Richmond because of him?" Liang Yao asked Robert in a low voice.

Robert didn't really look like someone who could pee in a chamber pot with Frances.

"I'm ashamed to say that our family owes Mr. Francis a debt, and Mr. Francis has been pressing the debt very hard recently." Robert said with some embarrassment.

Liang Yao understood that Francis was his creditor.

Entering the living room of the manor's main house, Francis introduced to Liang Yao one by one the southern slave owners who attended the party. They were actually some slave owners in the south who had a good relationship with Francis.

"General Liang, I heard that you purchase Texas cotton all year round." Francis said after sitting down.

As soon as Francis opened his mouth, Liang Yao knew the intentions of these southern slave owners in inviting him to Richmond.

It must be that the cotton in the south is unsaleable, and I want to find a next home to eat the cotton in their hands.

Otherwise, their cotton will just rot in the warehouse.

The outbreak of the Crimean War prompted a surge in demand for cotton in Europe, and southern cotton exports entered the last golden period before the war.

But after the Crimean War ended at the end of March last year, demand for cotton in Europe plummeted, and planters in the south had to find new buyers to consume their excess stocks.

As for why these plantations were not so anxious when the war ended last year, the reason is simple. The cotton was still growing in the fields at that time, and these plantations were confident that they had enough time to find new buyers.

Reality soon dealt a blow to the slave owners in the South. After the war, France, the main continental power, reduced the import of agricultural products in order to support domestic agriculture.

Due to political, moral and public opinion considerations, and under pressure from the domestic anti-slavery movement, the United Kingdom had to reduce the amount of cotton imported from the American South. Increase the import of cotton from Egypt and India as a substitute.

The reasons for Russia's reduction in cotton imports are less complicated and simpler. It is simply that after the war, all industries declined and the demand for cotton decreased.

Russia's cotton imports from the southern United States dropped from 250,000 bales during the Crimean War to 170,000 bales.

(Note: The bale was the unit of measurement for large-scale cotton transactions in the 19th century. The weight of each bale of cotton was roughly between 500 and 600 pounds, and the middle value was 1 bale ≈ 550 pounds ≈ 250 kilograms. Small-scale private cotton transactions used pounds as the unit of measurement.)

The only stable cotton market left in Europe in the South is the German Customs Union. However, the cotton import structure in the German region is relatively diversified, and the demand is not very large. After all, the German region is not the center of the cotton textile industry.

Cotton exports from the South of the United States account for only 60% of the 1.5 billion pounds of cotton consumption in the German Zolls Union, about 130,000 bales.

The figures for the UK, France and Russia are respectively 77% in the UK, 90% in France and 92% in Russia.

The three major cotton importing countries, Britain, France and Russia, have invariably reduced cotton imports from the southern United States. This has caused the cotton exports in the southern United States to go from midsummer to severe winter in an instant.

"It is true, but the cotton production in Texas is not large, so California can afford it." Liang Yaowan refused.

"South Carolina and Georgia are both major cotton-producing states. The cotton you have on hand, let alone California, may not be available to the entire West Coast."

What Liang Yao said was true. Texas was a young state established in December 1845, and the cotton output in Texas was not large.

The West Coast imported 150,000 bales of cotton from Texas last year at about $52 per bale. Cotton is the only commodity on the West Coast with imports exceeding $8 million.

The number of 150,000 packages is already quite astonishing. During the same period, the cotton sold by the South to Britain and Continental Europe was 2,241,000 bales and 1,005,000 bales respectively, while the cotton sold to the North of the United States was only a pitiful 95,100 bales.

The West Coast region has become the fourth largest consumer market in the South after Britain, France and Russia.

"Mr. Liang is being humble. Who doesn't know that you are the richest man in the United States? I think you can still afford 270,000 bales of cotton." Francis gave Liang Yao a top hat.

Looking at the entire United States, apart from Liang Yao and his group of Chinese businessmen, Francis could not find anyone else who was interested and capable of eating the cotton stocks in the South.

"These are high-quality cotton. In previous years, you might not be able to buy them even if you queue up."

270,000 bales of cotton? ? ?

Liang Yao almost spit out the tea he just drank in his mouth. Does this guy really think he is the receiver?

Francis, this old boy, really dares to say it. 270,000 bales of cotton is almost the consumption that allows him to swallow 5 Russian cotton.

Even if Francis sells it to Liang Yao at a friendly price of US$50 per bale, 270,000 bales of cotton will cost US$13.5 million.

Furthermore, carding machines and spinning machines throughout the West Coast were burning and smoking, and sewing machines in garment factories were trampled and broken, so they might not be able to digest 270,000 bales of cotton.

"Ahem, Mr. Francis thinks too highly of me, Mr. Liang, with only 270,000 bales of cotton." Liang Yao coughed twice and said.

The international market price of cotton will skyrocket after the outbreak of war.

Liang Yao does have the idea of ​​​​increasing cotton imports, but Liang Yao's intention to increase cotton imports is to import 20,000 to 30,000 bales of cotton every year and slowly digest it, rather than eating 270,000 bales of cotton in one go.

"270,000 bales of cotton, my dear, this is more than 134 million kilograms." Pan Zhengwei quickly completed the conversion in his mind.

He shook his head secretly. Tongfu Group was involved in the cotton business in the south. He knew some of the cotton market conditions. The quality of cotton in the south was very good and the price was very cheap. This is the truth, it’s just that the amount is too big.

If it were only 10,000 or 20,000 bags, the Pan family might still be able to swallow it.

In previous years, the Pan family's cotton trading volume with the South was between 50,000 and 20,000 bales per year, and they were already a big customer of the South.

Who can afford 270,000 bags?

As for what Francis said in previous years, you may not be able to buy these high-quality cottons if you queue up, which is also true, but these are all from the old almanac of 1855.

"You ask him how much a bag is in dollars?"

Liang Shaoqiong was very interested in this matter. All he could think about now was how to make money to raise troops.

"Who is this?"

Francis had met Pan Zhengwei, but he felt very unfamiliar with Liang Shaoqiong, having never seen him before.

Most Chinese in America don’t wear braids, and it’s rare to see a Chinese with a long braid like Liang Shaoqiong.

"This is my uncle, the Deputy Minister of War of the Qing Dynasty." Liang Yao introduced.

"It turns out he is the Minister of War of the Qing Dynasty. I am disrespectful." Francis was overjoyed when he heard this and hurriedly came over.

Seeing him approaching, Liang Shaoqiong quickly took two steps back to avoid being smoked.

Seeing that Liang Shaoqiong was a little superior, Liang Yao hurriedly said to Liang Shaoqiong in Cantonese: "Uncle, are you crazy? This is 270,000 bales of cotton."

"I'm not crazy." Liang Shaoqiong replied.

"You and I may not be able to eat 270,000 bales of cotton, but the Jiangnan cotton merchants and we can barely eat it."

Since selling off the cotton textile mills in California, Liang Yao has paid little attention to the cotton business, so he does not know much about the recent cotton market.

Liang Yao turned to Pan Zhengwei and asked, "Mr. Pan, what do you think?"

Pan Zhengwei's Tongfu Group is in the cotton business and he is an expert in the industry. You can listen to his opinion on this matter.

Pan Zhengwei thought for a long time and asked Liang Shaoqiong: "Shilang Liang, do you know the big cotton merchants in Jiangnan?"

"Liang is not boasting. There are no famous wealthy businessmen in Jiangnan that I don't know. Most of the people doing cotton business in Jiangnan are Huizhou merchants." Liang Shaoqiong said.

Pan Zhengwei nodded with satisfaction, then turned to Shen Baozhen and said, "Master Shen, if this matter can be accomplished, I am afraid that all the Fujian merchants in Fujian will be left alone."

"How do you say this?" Shen Baozhen asked confused.

"In previous years of peace, Fujian merchants mostly purchased cotton from Jiangnan cotton farmers in Songjiang and other places. Since the Changmao Rebellion, which has wreaked havoc in Jiangnan, Fujian merchants' cotton sources have also been cut off." Pan Zhengwei explained.

"The cotton merchants in the Qing Dynasty were composed of Shanxi merchants, Hui merchants, and Fujian merchants. If Liang Shilang and Shen Fuzun were able to bridge the gap between them and open up the relationship between micro merchants and Fujian merchants, in my opinion, this business could be done."

Shen Baozhen understood what Pan Zhengwei meant. If this deal could make money, his new prefect's local prestige would also be greatly increased.

But Shen Baozhen was still worried: "Mr. Pan, is this transaction risky?"

"There are always risks in doing business. I have done cotton business in the south, and the price of high-quality cotton here is cheaper than the price of low-quality cotton in Qing Dynasty. As long as you can find a buyer, you can make money." Pan Zhengwei said .

Cotton cultivation in the South of the United States uses slavery, and the production cost is very low. It contributes 6% of the world's cotton production. It is no wonder that the price is not low.

Looking around the world, there is no place where cotton is cheaper than in the American South.

California's textile industry relies on the cheap cotton provided by the south (mainly Texas), which is processed into various fabrics and ready-made garments and sold to Europe, East Asia, and the northern United States, and it quickly developed a reputation. Become the signature of California light industry.

"Since they are eager to get rid of this batch of cotton, we can continue to suppress the price. As long as this batch of cotton can be sold smoothly in Daqing, we can make money. I am afraid that the two of you will have to trouble General Liang with the transportation problem. .”

"So, although these 270,000 bales of cotton are a lot, we may not be able to eat them." Liang Yao was overjoyed.

Liang Yao also had a way to open up relationships with Fujian businessmen, and there were quite a few Fujian businessmen in the United States. If Liang Shaoqiong could open up the relationship between Huizhou merchants and Jiangnan cotton merchants and use the channels of Fujian merchants and Huizhou merchants to distribute cotton, this deal would be possible.

Although the people in the Qing market are poor, they cannot afford the large base.

Furthermore, the West Coast can also eat some of the cotton and expand production capacity.

"What are you gentlemen talking about?"

Liang Yao and others spoke in very non-standard Mandarin. Francis and other southern slave owners were confused and had no idea what they were talking about.

"Francis, don't keep pestering the guests on this issue. The guests have come from afar, and I think they are all tired. Even if they want to discuss business, let them eat well, have fun, and then take a good rest." talk."

The person who interrupted Francis was John Dunn from Louisiana. Dunn had long been dissatisfied that Francis had been nagging Liang Yao and his party so much that he didn't even have a chance to speak.

"What this gentleman said makes sense. I'm really tired from driving around for days." Liang Yao said.

He really needed to take some time to think about and discuss such a big matter.

Dunn walked up to Liang Yao and extended his hand to Liang Yao: "Mr. Liang, I am John Dunn. I am very happy to meet you."

"Me too, Mr. Dunn."

Liang Yao shook hands with Dunn in a friendly manner.

Dunn has a well-proportioned figure, decent manners, a gentlemanly look, and a very aristocratic temperament. He left a very good first impression on Liang Yao.

The Dunn family of Louisiana is considered the richest family in the South, and its interests include plantations, banks, railroads, and port services.

Because members of the Dunn family keep a low profile, no one knows exactly how much wealth the Dunn family controls. According to later generations, the Dunn family is the so-called invisible rich.

At Dunn's request, the dance and banquet soon began.

Liang Yao walked through the gorgeous hallway and entered the spacious ballroom.

A huge crystal chandelier hangs above the ballroom. The crystal chandelier casts a soft light, reflecting the carefully laid Persian carpets and smooth oak floors. High ceilings, exquisite ornaments and murals depict the elegance and glory of a Southern estate.

The ballroom was soon filled with elegant music melody, making people unable to help but jump and dance.

The gorgeous costumes of the southern gentlemen and ladies flashed under the lights, and elegant dances unfolded among the crowd, with laughter and laughter intertwined, and people drinking and drinking.

The pace of life in the South is slower than that in the North, so the upper class in the South holds parties much more frequently than the upper class in the North.

In their spare time, slave owners in the South relied on parties to communicate with each other and pass the time.

Liang Yao has attended both parties held by the upper class in the south and parties held by the upper class in the north. Generally speaking, Liang Yao still feels that the parties held by the upper class in the south are more extravagant.

"Mr. Liang, can I invite you to dance?"

Miss Dunn, daughter of Dunn, came forward to invite Liang Yao to dance. When Francis saw this, he also asked his daughter to come forward and invite Liang Yao to dance.

The two daughters of slave owners all have one thing in common, that is, they are molded from the same mold as their fathers.

It is said that daughters take after their fathers in appearance, but this is too outrageous.

Francis' daughter's appearance and figure were both indescribable, and Liang Yao really couldn't bring himself to dance with her.

But this time Francis was the host of the party, so Liang Yao couldn't offend Francis too much and make Francis lose face.

Liang Yao rolled his eyes and quickly came up with an idea. He grabbed Liang Shaoqiong's hand and placed it on Miss Francis' chubby hand. He said to her: "Miss Francis, Minister Qing has long wanted to Dance with you."

Although Liang Shaoqiong drank some wine, he was still conscious. Looking at the mountain of meat he had never seen before, Liang Shaoqiong gave Liang Yao a hard look and spat: "You kid has no good intentions, damn it." , Are you so cruel to your uncle? I am your uncle! How could you push me into the fire pit?"

"If Third Uncle wants to make this deal, this dance must be performed. I am thinking about Third Uncle. If you want to blame you, I can only blame my father and grandfather for not coming over today. They really like dancing." Liang Yao said to Liang Shaoqiong. He winked and said meaningfully.

"Uncle, dance well, there are special events in the evening."

After speaking, Liang Yao took Miss Dunn's hand and quickly escaped to the dance floor without giving Liang Shaoqiong a chance to refuse.

Although Liang Shaoqiong was so angry that she stamped her feet, she could only bite the bullet and dance with Miss Francis.

But thinking about the special project in the evening, Liang Shaoqiong gritted his teeth and endured it.

At the end of the ball, a group of maids in neat uniforms, with graceful figures and beautiful faces walked into the ballroom and carefully served delicious snacks to the guests.

The interested guests selected the black maid who would accompany them for the night like a commodity.

Using young black maids to entertain distinguished guests is also a traditional project of the party of the wealthy southerners.

Big slave owners with financial resources would keep some black beauties for their own enjoyment and for entertaining guests at parties.

"Third uncle, hurry up and pick one." Liang Yao couldn't help covering his mouth and laughed, "If you don't pick a pretty maid, someone else will pick her away."

"Is this the special project you are talking about?" Liang Shaoqiong asked with his eyes widened.

"Is there anything whiter?"