1850 American Gold Tycoon.

Chapter 640 Issuing Bonds

Just as the federal government in the North issued its "Address to the States" and officially mobilized for war, the heads of the Western American republics held a cabinet meeting to discuss the issuance of national debt.

"Our financial situation is good at the moment, and I don't think it's necessary to issue bonds. The interest alone on a $1500 million national debt is an astronomical figure." Cowen, the first Director General of Customs of the American Republic, spoke first.

Cowen served as the federal government's Secretary of the Treasury during President Fillmore's administration. Compared with the federal government's Treasury Department's years of deficits, the new American Republic's finances were much more affluent, especially after it took back tariff rights from the federal government.

Cowen believed that given the Republic's current good financial situation, there was no need to borrow heavily.

1500 million US dollars. According to the standards of the northern federal government, 1500 million US dollars can arm an army of up to 150 million people.

"1500 million US dollars is not a small amount, but it is the fiscal revenue of the three west coast states for two whole years." Robinson stood up and spoke after pondering for a moment.

"The military expenditure of the Second Mexican-American War was not even this much. Although the sound of a cannon can bring a fortune, the federal government's attention is now focused on the South and it has no intention of using force 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 $1500 million national debt alone is an astronomical figure."

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

"Our land act granted land to Idaho, Montana, Wyoming, North Dakota, South Dakota, Nebraska, Kansas, and Oklahoma Territory. When Lincoln saw our land act, he hated us more than the Confederacy.

It is always a good idea 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."

"That being said, based on my understanding of the federal government's situation, the federal government does not have the financial resources or the ability to fight both us and the Confederate States of the South at the same time." Corwin 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 was 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 desolate place, and the Mississippi River is flooding. Developing the frontier region is not something you can do by simply allocating land to immigrants and then sitting back and doing nothing. Building water conservancy projects, laying railways and roads, and settling immigrants all cost a lot of money."

"Developing the border areas is a national policy. If so, I agree with issuing bonds." After listening to Liang Yao's words, Ke Wen no longer had any objections. Ke Wen knew very well how important it was to control the central border areas.

"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 we cannot issue this $1500 million bond, our country will lose face."

"If we can't even issue this mere 1500 million US dollars in debt, I don't think it's because our people have no confidence in us, but because you have no confidence in the new government." Liang Yao looked around at everyone and said with a forced 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 part, but also to take this opportunity to tie the entire West, especially the top elites in the West, to the chariot of the American Republic.

After three cabinet meetings, Presidential Secretary Chase handed a newly delivered telegram to Liang Yao: "Mr. President, this is a telegram from Houston."

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

"No, it was sent by someone from the Rothschild family," Chase replied, "Britain, France and Spain will declare war on Mexico soon, and French Emperor Napoleon III will personally lead an expedition to Mexico to collect debts."

"Mexico is really blessed. Three great powers serve a small North American country." Liang Yao laughed when he heard this, "North America is becoming more and more lively."

"Should we call Hawke and ask him to temporarily stop the Mexican Brigade from heading to North Platte and stay on guard at the Mexican border?" Chase asked. "No, North Platte is where the troops are needed 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, but Napoleon III's personal expedition to Mexico was not just for debt collection. Does France need this little bit of money?"

"You mean, the French army is going to occupy Mexico directly?" Chase asked, "Can we also take this opportunity to send troops to Mexico?"

"It's not worth it to vent our anger on Britain and France for a little bit of Mexican land 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 for them to occupy Mexico for a long time. Moreover, Britain will not sit idly by and watch France eat all the spoils. It's better to do Napoleon III a favor."

Liang Yao knew what Napoleon III was planning. 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 swallow up the whole of Mexico, or to swallow up Mexico in a direct occupation, which turned 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?" Zeiss asked.

"The opening of the Naval Academy is a big event. Prepare a special train and I will go there in person." Liang Yao said.

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At the end of March 1861, after Lincoln issued the "Address to the States", young and middle-aged men from northern states responded by signing up to join the army.

In less than three days, the 3 conscription quotas were filled. The young and middle-aged men who failed to successfully sign up for the army could not help but beat their chests and stamp their feet, lamenting that they had missed the great opportunity to serve their country and make achievements, and could only leave in disappointment.

Lincoln immediately ordered the 75000-strong army to enter Washington. In the past two weeks, Lincoln had been in a state of nervousness and anxiety.

Although the militias of New York and Pennsylvania controlled Maryland, slaveholders in Maryland still took advantage of the night to destroy Washington's railroad and telegraph lines connecting the North. Slavery activists in Virginia frequently crossed the border to attack Washington's military outposts in provocation.

These days, Lincoln's most common thing was to pace back and forth in the somewhat dilapidated White House, looking toward the Potomac River from time to time, hoping to see a troop transport appear on the Potomac River.

Every day in Washington, news spread that the newly formed Seventh New York Corps, the Rhode Island Corps, and the Sixth Massachusetts Corps would soon arrive in Washington.

But these reports were always proven to be rumors at night, and not even a single Union soldier, let alone a legion, could be seen on the Potomac River.

Now, not only the people of Washington do not believe that the legendary Sixth Legion, the Seventh Army, and the Rhode Island Legion will arrive in Washington soon, even the masters in Washington are somewhat shaken.

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

It was not until April 4 that a group of ragged, miserable-looking Union soldiers finally appeared in Washington, riding on a variety of civilian ships.

The arrival of this army made Lincoln feel relieved.

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

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

(End of this chapter)