Chapter 831 Economic Crisis of 1847 (Part 1)

Chapter 831 Economic Crisis of 1847 (Part 1)

Investors began to cash out in large quantities. Faced with the run, bankers tried to protect themselves and also began to sell low-quality assets. The result was a stock market collapse.

Among them, railway stocks, which were once popular, were regarded by many as inferior assets and became the target of selling because their income fell short of expectations.

A break in the capital chain is fatal to any industry, so a large number of railway projects have been suspended and countless workers have lost their jobs.

These unemployed workers flocked to the cities in large numbers hoping to find a job, but in this economic winter it was the same everywhere. All walks of life were in recession, and a large number of factories closed down, which led to the resurgence of Chartism.

Older child workers such as David, Jim and Kate also joined the protest march. These workers who came out of the mines were the most militant.

Because they fight against death every day and have experience of long-term strikes. The most critical thing is that the price of British coal has increased, but miners' wages have dropped to one-third of their original value.

The contract had become a scrap of paper, and the John Russell government chose to turn a blind eye to the miners' complaints.

After all, in his opinion, these guys are just unworthy people who can be solved by just ignoring them or using a little intimidation.

At this time, John Russell had to solve big troubles. Bankers' interests were suffering losses, factory owners could not sell the goods they produced, and some officials were assassinated and kidnapped.

His first move was to stop so-called free trade, especially heavy taxes on Austrian grain and goods.

At the same time, we crack down on smuggling trade and require that pellets are not allowed to enter the country.

Franz was already prepared for this. Previously, the Ottoman Sultan Mejid failed to donate money to Ireland and instead sent food.

Now Franz felt that he could do the same. After all, instead of paying high tariffs to help the British solve the crisis, it would be better to send it directly to the Irish people in urgent need of food.

However, Franz still underestimated the lower limit of the British. He only knew that the Ottoman Sultan Mejid's donation of 10,000 pounds to Ireland was rejected.

The British reason was that Queen Victoria only donated two thousand pounds, and the Sultan could not donate more than the queen, so he could only donate one thousand pounds.

Afterwards, McGeed sent several more shipments of wheat, and the result is that Drogheda United's team emblem is still the star and moon symbol.

Drogheda United is one of the strongest teams in the Irish Premier League.

Ireland is very conservative in terms of religion. Historically, it once banned divorce among its citizens despite the pressure from the entire West. It was not until 1996 that a bill allowing divorce was passed. However, the review was strict and the cost was outrageous.

But what Franz didn’t know was that Magid’s delivery of food was rejected three times. Finally, the Ottoman sailors broke through the British blockade on a dark and stormy night before delivering the food to Drogheda (Irish port). .

The Austrian fleet does not have this time, and the British will not turn a blind eye to the Austrian ships.

After all, the Ottomans are allies of the British, and they have no ability to threaten the British. But Austria is different. If they break in and are discovered, they may be sunk by the British on the spot.

It is completely unnecessary to take such a big risk for the nationals of other countries. If the Austrians were saved, the captains might risk their lives to try, but the Irish or the British have nothing to do with them. It's necessary.

At the same time, Franz's rescue plan basically failed. Merchant ships could no longer make profits and basically would not go there again. Only a few church ships and passenger ships were left that were willing to help.

The result is a significant reduction in capacity and the inability to carry Ireland around the world as originally planned.

The former is better to have some work, after all, it is better than no work, but the latter is very troublesome. The Irish and Italians like to huddle together for warmth.

If the group cannot assimilate or conflict with the local Austrian immigrants, or even attract the covetousness of the British, it will be a big trouble.

But at this time Franz received an unexpected helper, an Arab businessman.

I am afraid that only the British can get the Arabs to help their religious enemies. This reminded Franz of the scene when the terrorists who were beaten to death and the government troops guarded the Tabka Dam together.

The gene of doing business seems to be engraved in their bones. If the Ottoman Empire had not declined at this time, I am afraid that their footprints would have been all over the world.

But at this time, with the rise of the Oman Empire in West Asia, especially after its marriage to the Austrian Empire, the Arab merchants who had been dormant for hundreds of years became active again.

But just doing business with Austria cannot satisfy them. These Arab businessmen hope to fly the Austrian flag and do business around the world.

For this reason, they were willing to help Franz solve this little trouble and were willing to hand over 10% of the profits to the Austrian Empire.

However, the corresponding Austrian Empire should protect their security and interests and help them explore new markets.

The reason why Arab businessmen were willing to do this was because they had no choice but to do so. Because the British did not give them a chance at all, the so-called free trade was to turn them into colonial compradors.

In contrast, Austria's penetration into other countries is much worse. At least it does not show a strong desire for control.

And under the propaganda of Oman Said the Great and Indian merchant Vera Wise, Franz and the Austrian Empire were definitely the most trustworthy trading partners in the world.

Of course, Arab businessmen must also make some small moves. After all, white slaves are still in high demand in the Arab world.

But compared to millions of people starving to death, this price is nothing.

Franz also has preventive and countermeasures, which are generally harmless. They can also eliminate some cancers that are difficult to control, and can also catch some people.

The most important thing is that Franz really doesn't have much energy to pay attention to things on the island of Ireland at this time. He has done almost all he can do, and the rest can only be left to their own good.

Since the Austrian Empire only partially joined the German Confederation, it could not avoid the impact of the German Confederation nor the impact of the domestic market.

In addition, Franz also has to face the consequences of the super-doubling of nationalism that he has contributed to.

In addition to restricting imports, the British also hoped to expand exports. John Russell hoped to get the United States to lower tariffs to facilitate British dumping of domestic goods.

Although this idea is naive, the British Empire really has many cards in its hands. John Russell expressed his willingness to redraw the border with the United States, which led to a split among the ruling groups within the United States.

Although there were shadows of northern factory owners behind Polk, the desire for land throughout the United States was too strong.

Moreover, Polk's own campaign slogan was "Use the 54 degrees 40' north latitude as the boundary line, or else there will be war."

The slogan inspired voters and made Polk proud. Polk admired Andrew Jackson very much and hoped that he would open up new territories for the United States like him. He also liked others to call him "Little Walnut."

Note: Andrew Jackson was called "Old Hickory" to describe his tough style.