1850 American Gold Tycoon

Chapter 640 Issuing Bonds

Just as the northern federal government issued the "Letter to the States" and officially mobilized for war, the leaders of the Western American Republic held a cabinet meeting on the issuance of national debt.

"Our current financial situation is good, and I don't think it is necessary to issue bonds. The interest alone on a national debt of $15 million is an astronomical figure." Corwin, the first Director of the General Administration of Customs of the American Republic, spoke first.

Corwin served as the Treasury Secretary of the federal government during President Fillmore's period. Compared with the continuous deficits of the federal government's treasury, the new American Republic's finances are not a little bit more abundant, especially after taking back the tariff rights from the federal government.

Corwin believes that with the current good financial situation of the republic, there is no need to borrow heavily.

$15 million, according to the standards of the northern federal government, $15 million can arm an army of up to 1.5 million people.

"$15 million is not a small amount, but it is the fiscal revenue of the three states on the west coast for two full years." Robinson stood up and spoke after a moment of silence.

"The military expenditure of the Second Mexican-American War was not this much. Although the sound of a cannon can bring a lot of gold, the federal government's attention is now focused on the south and has no intention of using troops against us. If there is no war between the East and the West, wouldn't it be a waste to borrow such a large sum of money? As Director Corwin said, the interest on a $15 million national debt alone is an astronomical figure."

"That's because Washington hasn't seen the land bill we issued yet." Vice President Fremont said.

"The land bill we issued includes Idaho, Montana, Wyoming, North Dakota, South Dakota, Nebraska, Kansas, and Oklahoma Territory. After seeing the land bill we issued, Lincoln hated us more than the Confederate States of the South.

It is always right to prepare for a rainy day. It will be too late to borrow money when the war starts. I am in favor of issuing bonds."

"Having said that, based on my understanding of the federal government's situation, the federal government does not have the financial resources and the ability to fight against us and the Confederate States of the South at the same time." Cowen frowned and said, "What if, I mean what if, what if there is no war between the East and the West, what should we do with this money?"

"It would be great if there is no war between the East and the West." Liang Yao picked up the teacup on the table, took a sip of tea to moisten his dry throat, and spoke slowly.

"The central region is a vast land, and the Mississippi River is flooding. Developing the frontier region is not a matter of giving land to immigrants and then leaving it alone. Building water conservancy projects, laying railways and roads, and settling immigrants, all of which cost a lot of money."

"Developing the frontier region is a national policy. In this case, I agree to issue bonds." After listening to Liang Yao's words, Cowen no longer had any objections. Cowen knew how important it was to control the central frontier region.

"President, I have something to say." Finance Minister Deng Wenyu stood up worriedly and suggested, "Should we reduce the bond issuance quota? This is the first time our country has issued bonds. If this $15 million bond cannot be issued, our country will lose face."

"If we can't even issue this mere $15 million bond, I don't think it's because our people don't have confidence in us, but because you don't have confidence in the new government." Liang Yao looked around at everyone and said with a fake smile.

Liang Yao's purpose of issuing bonds this time is not only to raise military funds and develop the frontier areas in the central region, but also to take this opportunity to tie the entire West, especially the high-level elites in the West, to the chariot of the Republic of America.

After three cabinet meetings, President's Secretary Zeiss handed a telegram that had just been delivered to Liang Yao: "Mr. President, a telegram from Houston."

"A telegram from Houston? From Bell and others?" Liang Yao rubbed his temple and asked.

"No, it was sent by the Rothschild family." Zeiss replied, "Britain, France and Spain will declare war on Mexico soon, and French Emperor Napoleon III will personally go to Mexico to collect debts."

"Mexico is really blessed, with three powers serving a small country in North America." Liang Yao smiled when he heard this, "North America is getting more and more lively."

"Should we call Hawke to ask his Mexican brigade to temporarily postpone the trip to North Platte and stay on guard at the Mexican border?" Zeiss asked.

"No need. North Platte is the place to use troops right now." Liang Yao thought for a moment and said, "Britain, France and Spain are not of one mind. The British and Spanish sent troops to Mexico to collect debts. Napoleon III's personal expedition to Mexico is not just for collecting debts. Does France need this?"

"You mean, the French army wants to occupy Mexico directly?" Zeiss said, "Can we also take this opportunity to send troops to Mexico?"

"It's not worth it to vent anger on Britain and France for a little bit of land in Mexico at this time." Liang Yao shook his head and said, "France and Mexico are separated by the Atlantic Ocean. Even if the French army conquers Mexico, it will be difficult to occupy Mexico for a long time, and Britain will not sit idly by and watch France eat alone. It's better to do him a favor."

Liang Yao knew what Napoleon III was thinking. He just wanted to take this opportunity to occupy Mexico and then get involved in the Americas. But Napoleon III's appetite was too big. He wanted to eat all of Mexico, or to eat Mexico in a hurry by directly occupying it, turning a good move into a bad one.

"Tomorrow is the ribbon-cutting day for the Jinshan Naval Academy. Will you go to the Naval Academy in person to cut the ribbon?" asked Zeiss.

"The opening of the Naval Academy is a big event. We have prepared a special train and I will go there myself." Liang Yao said.

——————

At the end of March 1861, after Lincoln issued the "Message to the States," young adults in the northern states responded one after another to sign up for the army.

In less than three days, the 75,000 recruitment quotas were filled up. The young and middle-aged men who had not successfully signed up for the army could not help but beat their chests and lamented that they had missed the great opportunity to serve the country and make contributions to the country and could only leave in frustration.

Lincoln immediately ordered this 75,000-man army to enter Washington. In the past two weeks, Lincoln spent the past two weeks in a nervous mood.

Although militiamen from New York and Pennsylvania controlled Maryland, Maryland slaveholders continued to use the night to destroy the railroads and telegraph lines connecting Washington to the North. Virginia's slaveholders frequently crossed the border and attacked military posts in Washington for provocation.

What Lincoln did most these days was to pace back and forth in the somewhat dilapidated White House, looking toward the Potomac River from time to time, hoping to see troop transports appearing on the Potomac River.

News circulated in Washington every day that the newly formed Seventh New York Regiment, the Rhode Island Regiment, and the Sixth Massachusetts Regiment were about to arrive in Washington.

But these news were always proven to be rumors by night. Not to mention a regiment, not even a single Union soldier could be seen on the Potomac River.

Now not only the people of Washington do not believe that the legendary Sixth Army, the Seventh Army Corps, and the Rhode Island Army will arrive in Washington soon, but even the gentlemen in Washington are a little shaken.

A few weak-willed members even packed up their gold and silver and fled north under the cover of night.

It was not until April 3 that a group of disheveled Northern soldiers riding on a variety of civilian boats and looking very embarrassed finally appeared in Washington.

The arrival of this army relieved Lincoln.

"Your Excellency, the Commander of the Seventh New York Army Corps, Benjamin Butler, is reporting to you!"

Benjamin Butler, commander of the Seventh Army, came to the White House to report to Lincoln.