1855 United States Tycoon

Chapter 10

“However, Scrooge, I didn’t expect you to grow so fast. So, the money is still regular savings in the bank. If you take it out now, there won’t be that much. Well, this money needs more money. It will take two years to use. You can also familiarize yourself with how to do business in these two years… Well, starting tomorrow, you will follow me and take care of the account books. Corolla, you will also learn and learn. After all, this shop I still have to give it to you in the end.” Old Joseph said.

Two years later, in 1857, when Scrooge was studying in university in his previous life, he went to fashion a double bachelor degree in economics. He learned it when he chose economic history. In 1857, it broke out in the world. The first global economic crisis, and this crisis is also the first economic crisis that erupted from the United States, not from the then world leader, the United Kingdom. In this crisis, 62 of 63 New York banks stopped paying, and the discount rate even exceeded 60%. Joseph’s money cannot be withdrawn until 1857, which is not very good news. So Scrooge asked quickly:

“Dad, I want to know how many months this money will expire.”

“What’s the matter? Can’t wait?” Old Joseph smiled, “My son, ambitious is good, but you still have to be down-to-earth and follow me for two years before talking. You won’t be delayed.”

It’s not too late to start a business with Joseph Sr. Joseph for two years, and it’s definitely not a problem to catch up with the fortune train of the Civil War. In fact, Rockefeller’s entrepreneurial time was as late as 1858. But what Scrooge is most worried about now is the safety of deposits, so he still has to continue to ask to understand, but he can’t directly tell his father that there will be a global economic crisis in 1857, and many banks will It’s over. Against the backdrop of the current prosperity, no one would believe this. Therefore, he must change his rhetoric. Scrooge thought for a while and said:

“Dad, I just want to know this time so that I can make arrangements in advance.”

“It’s pretty long-term.” Joseph said, “Well, let me tell you, the money expires in January.”

“Expired in January?” Scrooge took a deep breath. Although he can’t remember exactly how many months the economic crisis broke out in 1857, Scrooge still vaguely remembered that the problem with the financial system was this. It was detonated only in the fall of the year. As for banks stopping payments and starting mass bankruptcies, it will not happen until October.

Generally speaking, there will be a period of economic enthusiasm before the arrival of the economic crisis, and the same is true for the economic crisis of 1857. In the period before this, a large amount of hot European money poured into the railway industry of United States, and the railway of United States developed wildly and disorderly. The number of railway mileage even exceeds the sum of all other countries in the world over the same period. The United States government, which has been under the control of the South-based Democratic Party, has continuously lowered import tariffs in order to ensure the interests of southern plantations and to ensure that southern agricultural products can enter Europe at low taxes, in exchange for European countries to treat United States. Open markets for agricultural products. Although Europe has opened the door for United States agricultural products to enter the market, the door for the United States manufactured products market has also opened to Europe. At this time, the United States industry is far from being able to compete with Europe, especially the United Kingdom. So although theoretically the vigorous development of the United States railway industry should lead to the development of its metallurgical industry, the actual situation is that during this period, the United States pig iron production has been stagnant for a long time, and the growth rate of the cotton textile industry is also very slow. At the same time, the railroad tracks Imports of, pig iron, locomotives, cotton cloth and other British industrial products have grown very rapidly. British products flooded the United States market and destroyed the United States own manufacturing industry. Eventually led to the outbreak of the crisis. And this year, the agriculture of United States was not lucky. The unprecedented bumper harvest of wheat in United States ran into the historic bumper harvest of Russian wheat. As a result, the competition of Russian wheat caused the price of United States wheat to plummet. Enterprises also went bankrupt in large numbers.

With the outbreak of the crisis, United States banks, financial companies and industrial enterprises closed down in large numbers. In 1857 alone, nearly 5,000 companies went bankrupt, overproduction of food, declining food prices and food exports, and fierce competition from British industrial products, which contributed to the deepening of the United States economic crisis. In turn, the development of the British economy was also hit by the United States crisis. , Banks, railways, and commercial companies that exported funds from the United Kingdom to the United States went bankrupt, which also caused a sharp depreciation of the securities held by British investors. The sharp shrinkage of the United States market has caused a huge blow to those British companies that rely on the United States market for survival.

After all, economics is not the main business of Scrooge’s senior son, so he just remembers these general things in general, but he doesn’t know the details at all. But this big trend is enough to help Scrooge make money. Among other things, the grain of 1857 was a good opportunity to make money. Scrooge knew that a few years ago, in 1851, the world’s first grain futures market had appeared in Chicago. Due to the firmness of grain prices in the past few years, the price of grain futures once rose very high. In the end, the world’s bumper harvest will push prices to a low point that no one could have imagined before. By seizing this opportunity and shorting the grain, you can make a lot of money.

“When Rockefeller started, it seemed that he was in the food business in the first place? By 1857, he should have a little savings. At that time, I could get him to vote together.” Scrooge thought. NS.

Scrooge knew that short-selling futures is a very risky business, but there is no lack of luck in it. Even if you know the general trend, if you want to make money smoothly, luck is still indispensable. As the future United States and even the world’s richest man, Rockefeller’s luck should definitely be sufficient. Moreover, the company that Rockefeller currently works for is also engaged in grain trading. He will also be very familiar with the grain market in the past two years. It is absolutely not wrong to join such a person.

John Rockefeller didn’t know that Scrooge was thinking about him at this time. After a busy day of work, he was already tired like a dog. Today, he finished his accounting and was ordered to talk to a client about renting a boat. After finishing his work, he was frugal and reluctant to ride the public carriage. Instead, he walked back home through the entire city. So now, the exhausted Rockefeller ate dinner casually, and then fell on the bed, almost falling asleep before he could even kick off his shoes—the first thing the future great vampire did before he planned to suck someone else’s blood. Just learn to suck own blood. His mother Aliza gently took off his leather shoes and covered him with a quilt. Then she walked out of his room. As she walked out the door, she heard John Rockefeller sneeze, then turned over, lifted the covered quilt to the side, and then grumbled again in a vague voice. what.

Aliza smiled, walked over gently, and once again helped her son cover the quilt.

“Sir, do you mean you plan to end the probation period early and hire me?” In Tuttle’s office, John Rockefeller was trying to suppress his joy, and said to Tuttle in as calm a tone as possible.

“Yes, Mr. Rockefeller, we have paid attention to your work in the past month, and we are all in our eyes. Although your work is far from perfect, as a novice, you have performed very well. We are very optimistic about your future and hope that in the days to come, we can cooperate happily.” Tuttle extended his hand to Rockefeller.

“Thank you, sir!” Rockefeller shook Tuttle’s hand and said a little excitedly, “I will work hard to prove that you are not mistaken.”

“John, we can only give you a salary of a week. After all, you know, you are still a newcomer. If you take too much at once, other employees may have ideas. But if your work performance can be If you are satisfied, we will also increase your salary.” Tuttle continued.