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Chapter 550 The Age of Credit Is Coming

When Magne nominated Count Giles Lebesgue de Bemini as the new president (president) of the Bank of France, Count Bemini, who was the party involved, was stunned for a few seconds, and then the corners of his mouth showed up involuntarily.

There was a touch of joy.

It is necessary to introduce the background of our "lucky guy" here.

Giles Lebesgue de Bemini, born on November 15, 1799, is a French banker and politician. He once served as a member of the House of Commons (1832) and Secretary of State of the Ministry of Finance (1840).

Finance Minister George Harman was his father-in-law), a senior official in the Loire Department (1842), a senior official in the Seine-Saône Department (1842-1845), participated in the establishment of the French Discount Bank (1848), and was also the Paris-Orléans Bank

, one of the shareholders of the French Discount Bank, the Count Bemini, who had strong financial resources, joined the Bank of France in 1850 on the recommendation of Adolf Fulded and became one of the board members of the Bank of France. More importantly, he

When Société Générale was founded, Count Bemini also contributed a lot to Société Générale.

After introducing the background, it must not be difficult to draw conclusions.

The reason why Count Bemini was nominated by Magnet as president of the Bank of France was because he had good relations with the Magnet-Fulde-Perel alliance.

A more crucial point is that Count Bemini himself is a believer in Saint-Simonianism, just like Adolf Fuld and the Perel brothers.

If Count Bemini becomes president of the Bank of France, the entire Bank of France will become a Saint-Simonian world.

[By the way, the Bank of France has gradually formed three huge factions.

One of the factions is the financial conservatives headed by Count Argu. They are the most powerful of the three factions (James Rothschild was originally the largest faction). Their view is that the government should let the financial sector go and wait.

Market self-regulation.

Second only to Count Argu is the neutral Alphonse Rothschild. Their group believes in the concept that they will side with whoever can lead their interests.

The last group is the members of the Saint-Simon faction represented by Adolf Fuld. Their financial concepts are more radical than the financial conservative Count Argu, and they are also more in line with Jerome Bonaparte's reduced version of Keynesianism.

.However, Fuld’s credit economics seemed a bit too idealistic to Jérôme Bonaparte.

Without government intervention, relying solely on bankers' consciousness will lead to uncontrolled speculation as seen in history.

When the bubble expands beyond containment, the impact will also have to be borne by the government.

The historical Paris Monetary Loan Bank is the most typical example.]

Once the Bank of France becomes the domain of Saint-Simonianism, those who advocate financial conservatism may be forced to marginalize.

Thinking of this, some supporters of Count Argu in the banker camp could not sit still. They wished they could reject Magne's proposal in public, even if they offended the emperor.

However, since this is an imperial meeting, no one can interrupt at will without the emperor's permission.

"Bemini!" After Jerome Bonaparte pondered for a moment, he turned his attention to the banker Alphonse Rothschild and said, "Sir, what do you think of Bemini?"

Alphonse Rothschild, who was suddenly called out by Jerome Bonaparte, was stunned for a moment, and then immediately understood the purpose of Jerome Bonaparte calling him out.

"Your Majesty, I think Count Bemini's professionalism is beyond doubt! If he serves as the president of the Bank of France, the Bank of France will definitely be more prosperous!" Although Alphonse Rothschild was dissatisfied with this Bemini

The count's economic ideas were not popular, but he had to obey the emperor's will.

"I know!" Jérôme Bonaparte nodded in response to Alphonse Rothschild, and then turned his attention to the military representatives, Minister Couzin Montauban and Deputy Chief of General Staff Ni.

Erdao: "What do you think?"

Couzin-Montauban, who knew nothing about economics, had no idea of ​​economic philosophy, but Couzin-Montauban knew that since His Majesty the Emperor did not object to Magne's appointment, it meant that he himself preferred Bemini.

Coupled with Alphonse Rothschild's action of supporting Bemini just now, Couzin-Montauban was even more certain that the emperor was more optimistic about Bemini.

"Your Majesty, I am a soldier! I don't know how to calculate economic accounts. I believe that Count Bemini can understand these calculations better than me!" Couzin Montauban responded to Jérôme Bonaparte.

road.

As soon as Couzin Montauban finished speaking, Niel said: "According to the news from the front line, our army has occupied Sevastopol!"

Niel's remarks were like a bombshell, hitting the imperial meeting place directly. Everyone present was shocked by Niel's news.

Only a week had passed since the last battle (Arma), and the imperial army had already occupied Sevastopol.

"General Niel, is the news true?" Magne, the finance minister, asked Niel impatiently.

No one understood better than Magne what the capture of Sevastopol meant for the French Stock Exchange.

Take the Battle of Alma a week ago as an example. When news of the victory in the Battle of Alma reached Paris, stocks directly related to the military industry in Paris rose by 15% in just one day, and other stocks also followed suit.

Increases range from 5% to 10%.

If the occupation of Sevastopol is true, stocks surrounding the military will inevitably usher in a new round of growth!

This time the growth was even more rapid than during the Battle of Armagh.

After all, Sevastopol was the first Russian city occupied by France since 1815.

"It's basically true!" Niel nodded and said to Magne.

With Niel's assistance, even the bankers who supported Count Argu would not dare to oppose Bemini's appointment at this juncture.

Among the elite politicians who can stand in the Royal Council, there is no one who does not know Count Argu's economic policies.

Once Count Argu is chosen to limit all unnecessary expenditures other than military expenditures, it is very likely that the military's affiliated systems (such as canneries, cigarette factories, and steel plants) will fall into depression.

If the army is unable to win the next war, then the financial conservatives of Count Argu will have to shoulder the blame.

"Okay! Do you have any different opinions?" Jérôme Bonaparte asked everyone present.

No one spoke. After a while, Jérôme Bonaparte spoke again: "Since you don't speak, I assume that you all agree! Mr. Bemini!"

"Your Majesty!" Bemini responded quickly.

"From today on, you will take over Count Argu's position as president of the Bank of France! But the ugly words are ahead. If there is any turmoil in the Bank of France, I will only ask you!" Jerome Bonaparte's expression

Said seriously to Count Bemini.

"Please rest assured, Your Majesty! I will do my best!" Count Bemini responded.

With Bemini's assurance, the imperial meeting also came to an end.

"Okay! Let's adjourn the meeting!" Jérôme Bonaparte stood up and said to the courtiers at the foot of the steps.

"Yes! Your Majesty!" Magne and others at the foot of the steps responded.



Just as Magne was about to leave the Tuileries Palace, the palace steward Mokar stopped Magne.

Under the leadership of Mokar, Magne came to the door of a room.

"Your Majesty is inside!" Mokar pointed to the door and said to Magne.

Magne opened the door and saw Jérôme Bonaparte in the room, as well as Bemini, the new president of the Bank of France, who was now beside Jérôme Bonaparte.

"Your Majesty!" Magnet, who was standing at the door, responded to Jérôme Bonaparte in the room.

"Come here!" Jérôme Bonaparte waved to Magne.

Magne quickly came to Jérôme Bonaparte, only to hear Jérôme Bonaparte sigh and say: "If we put aside the economic ideas of Argou himself, in fact, Count Argou himself

He is still a respectable old man! We have also received favors from him, but it is a pity..."

"Your Majesty, for someone like the Count of Argou! If the economic idea cannot be implemented, it is better to kill him directly!" Magne defended Jerome Bonaparte: "Rather than let him stay in France in agony.

In the position of bank president, it is better to let him leave this position!"

"Hey!" Jerome Bonaparte sighed, and then asked Magnet and Bemini: "Do you know that the Bank of England has increased the discount!"

"I know!" Magnet and Bemini nodded at the same time and said to Jerome Bonaparte.

"What do you two think?" Jérôme Bonaparte glanced at them slightly in surprise, and then asked Magnet and Bemini.

"Your Majesty, please forgive me! The Bank of England's interest rate hike was actually expected!" Magne said calmly.

"Why?" asked Jerome Bonaparte.

"Recently, Count Argu has withdrawn nearly 5 million pounds of gold from the Bank of England!" Magne said in a shocking voice.

"Five million pounds? Gold?" Jérôme Bonaparte said with a slightly surprised tone.

"That's right! The bank under the Count of Argoux sold off English bonds in the English market and exchanged them for gold. The Bank of England was forced to increase the discount to recover the losses!" Magne nodded and responded to Jérôme Bonaparte.

"Argoux didn't even tell me about this!" Jérôme Bonaparte frowned and said to Magnet.

After a long quarrel, it turned out that the Count of Argoux, the president of the Bank of France, was dissatisfied with England because he exchanged too much gold.

"Perhaps Count Argou has forgotten it!" Magne said slanderously without a look on his face.

"Forget it! Since Count Argoux has retired, let him enjoy a glorious old age!" Jerome Bonaparte decided not to embarrass Count Argoux: "Mr. Bemini!"

"Your Majesty!" Count Bemini responded quickly to Jérôme Bonaparte.

"Now your first task is to discuss with the Bank of England to readjust the discount rate. Make sure they lower the discount to below 5%! As for the Count of Argou..." Jérôme Bonaparte paused, "

Wait a minute, I will go over and talk to him in person!"


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