Chapter 395: Chapter 389: Shameless Banker
"We are very willing to do whatever we can for the Empire!"
Under the watchful eyes of all, Alphonse Rothschild, who had been hoped by the bankers to resist government oppression, decisively chose to kneel and promised Barroso with conviction: "As long as the government needs it, our Rothschild Clan can fully cooperate with all government actions!"
After hearing Rothschild’s "declaration of loyalty", Barroso was momentarily baffled.
My enemy has become my ally?
Barroso, who initially regarded Alphonse as a tough nut to crack, first felt a sense of disappointment in his heart, but was then immediately filled with joy. He looked sharply around the dining table at the bankers, and from their varied expressions, Barroso got an answer.
Alphonse Rothschild’s move was probably not discussed with the bankers present, otherwise they wouldn’t show such expressions.
Thinking of this, Barroso felt a spontaneous sense of refreshment, like suddenly having a cup of ice water placed in front of you when you are thirsty.
Immediately afterward, Barroso hypocritically applauded Alphonse Rothschild: "Mr. Alphonse is right! The Empire needs entrepreneurs like Alphonse who worry for the country! France also needs responsible banks like Rothschild Bank!"
As the saying goes, ’it takes two to tango,’ Alphonse Rothschild shamelessly praised Barroso as a good minister who worries for the country, and then put on a lecturing face, urging the bankers present to sacrifice their "small family" for the sake of the "big family" of the Empire.
Upon hearing Alphonse Rothschild’s shameless flattery towards Barroso and the Emperor, some of the bankers present felt extremely frustrated.
Your Rothschild Bank has a vast business and can minimize losses through interbank borrowing in Europe; they, the small and medium-sized banks, do not have such risk resistance as Rothschild Bank.
Even a slight disruption would mean that their banks would face the risk of bankruptcy.
Of course, the so-called small and medium-sized banks are compared to Rothschild’s capital chains of billions of francs. Any banker who can join Barroso’s dinner table has at least millions, if not tens of millions, in funds. What they mean by having no money is merely a slight inability in the capital turnover!
However, as long as they can stabilize the value of railway bonds, they will not face the risk of bankruptcy.
Barroso’s rebuke, Alphonse’s defection, and the bankers’ pessimism towards national intervention led some bankers to start giving up hope.
Still, they did not dare to point at Barroso’s nose and scold him for ruining free economics. Feeling deeply wronged, they could only quietly protest to express their objection to the government’s freezing of railway bonds.
"Your Excellency, Mr. Alphonse... you are right, the Empire ended chaos, stabilized the market, allowing every one of us present to make big money! Reasonably and rationally, we are all willing to support the Empire and get through the crisis together, even if it means sacrificing all our wealth!" One banker said to Barroso with a mix of optimism and frustration: "But, when the Empire does this! Why not inform us in advance so we can prepare! Take my bank, for instance, besides investing in railways, I have also invested in national bonds, mines, and have a host of factories under my command... All of these require enormous sums of money to maintain. If any link goes wrong, my company will face a shortage of capital chain and risk of bankruptcy.
Nobody helps us bear this kind of risk, and we can only swallow the bitter fruit ourselves."
Several bankers with similar experiences nodded in agreement, and then this banker lowered his head in a resigned attitude and said: "Since Your Excellency has already said that railway bonds need to be frozen, well, I am willing to pay the price for the government. But we hope this won’t be how the government completes everything each time, and then roughly informs us of the results! It leaves us in a very passive situation!"
This was what the banker dared to express, and as soon as he said it, he had already braced himself for the possible counter from Barroso.
After a long while, Barroso, sitting at the head of the table, opened his mouth and said, "This... gentleman, may I consider this merely a complaint to me?"
"Your Excellency!" The banker hesitated for a moment, knowing this was the way out Barroso was giving him, so he backed down slightly: "You may think so! This is my little piece of advice to the Empire! We all long for a stable political environment to ensure our property and lives aren’t threatened by mobs, but what we desire even more is for our freedom not to be restricted..."
The freedom mentioned by the banker referred to their ability to freely withdraw.
"Sir, I do not wish to discuss too much the freedom you speak of, but if you think the Empire is too harsh on you, then you can also go to a freer country. The Empire’s credibility is built on stability; stability must outweigh freedom when necessary." Barroso made a pained expression and looked around at the bankers: "I know you are all unhappy with the government’s actions this time, but it is also for the sake of the bigger picture. I can assure you that once the clouds of war are dispersed, everything will return to the way it was, and you needn’t worry about the government maintaining control continuously.
To be honest, we also don’t want to do such unpopular things. However, it’s a necessary measure. I believe none of you, like me, wish to see the newly established Empire plunge into civil strife once again, do you?"
The bankers, who still vividly remember the 1848 Great Revolution, certainly did not want to face such a situation again. Capital outflows were one thing, but more importantly, it also posed a threat to their lives.
Therefore, the bankers present were not particularly opposed to Barroso’s proposal to freeze railway bonds and only pay interest.
As long as the Empire remained stable, they could continuously extract profits from France.
"Moreover, you should not only focus on France! Most areas of Eastern Europe and the world are undeveloped wastelands! As long as the Empire triumphs over them, won’t you have free rein?" Barroso bluntly timed the bankers present.
The bankers immediately understood Barroso’s implication: once the shackles on France were lifted, they could go wild with external conquests.
"Do you mean... the Empire is certain to defeat the Russian Empire and emerge victorious?" the bankers, who knew little about military matters, asked Barroso with skepticism.
"I am certain! Our army is already well-prepared!" Barroso nodded confidently and said, "During the war, the Empire will generate a large number of orders and war bonds, these war bonds..."
Already familiar with the war bonds channels, Barroso intentionally left the bankers in suspense.
The bankers, who had previously been dejected as if mourning, immediately cheered up and eagerly approached Barroso, saying, "Your Excellency, could you let us handle those war bonds!"
"Yes! Could we handle the war bonds?" another banker also spoke up.
Not just them, even the usually composed Baron Hotingger couldn’t resist his desire to take a slice of the cake; he coughed gently, and the bankers who heard this immediately fell silent, knowing that Baron Hotingger was about to make a move on the "cake."
"Look at you all, what a disgrace!" Baron Hotingger first put on a reproachful face to criticize the bankers present, then smiled reservedly at Barroso and inquired, "Your Excellency, I wonder if you need us to handle this batch of war bonds! We are very willing to serve the Empire!"
Barroso glanced at the "old fox" Baron Hotingger. So far, he had not expressed his stance, but he finally showed his "fox tail."
However, Baron Hotingger still didn’t have a clear position on the freezing of railway bonds issue.
So Barroso ambiguously replied to Baron Hotingger, "The Empire will not forget those who contribute to it!"
"Good!" Baron Hotingger made up his mind, he first glanced at everyone present, then knocked on the table and resolutely said, "I don’t care what you are plotting in your hearts, but at this time, we must unite closely around the Empire! If I find out someone is holding us back..."
Hotingger’s mouth revealed a cold smile, and all the bankers, including Alphonse Rothschild, felt a chill in their hearts.
This guy is no easier to deal with than James Rothschild!
The numerous bankers had just used the Emperor’s hand to expel James Rothschild, only to immediately encounter another formidable character.
"Alright! I have said all that needs to be said! The rest is up to you!" Barroso also eased the situation, as he initially didn’t want things to become so tense.
"Eat! Eat!" Baron Hotingger returned to his genial appearance, picked up his knife and fork again, and vigorously cut a piece of steak, chewing it in his mouth.
The remaining bankers also picked up their cutlery again, and the banquet continued until it ended at eleven o’clock at night.
The bankers left one by one, and Barroso, seeing them off, couldn’t help shaking his head.
At 11:30 pm, Alphonse Rothschild returned to the mansion and recounted what happened at the Louvre Hotel in the study.
"That old rascal Hotingger!" James Rothschild couldn’t help shaking his head, regretting his impulsiveness at the time.
"Father, should we inform the Austrian side about this?" Alphonse Rothschild, who was more concerned about whether to inform the Austrian Rothschild Bank about this than Baron Hotingger, asked softly.
"You are already the head of the bank; you need to make some decisions on your own!"