America 1881: They Call Me Legend

Chapter 470 Disastrous Proposal
The next day, Chen Jianqiu rode a black radish to the venue in the city center.

The so-called Silver Association, most of its members are a group of western silver mine owners.

The history of many of them's fortunes is full of blood, and they are all ruthless people with their heads hanging around their necks.

Therefore, the atmosphere of the venue is also very rough.

People who didn't know thought it was a gathering of bandits.

The venue is in a large shed temporarily built in the central square.

Now it's smoky and noisy inside.

These big bastards with pipes in their mouths never sit if they can stand. They wear big silver chains or big gold chains around their necks, and the rings on their fingers are shining.

Chen Jianqiu saw someone he knew.

The man's name was Kendall Saber, whom he met when he was in Tombstone Town. He was the owner of the hotel where he was staying, and he was also the owner of a silver mine there.

When the man saw Chen Jianqiu looking at him, he felt that the Chinese looked familiar, but he just couldn't remember where he had seen him.

Chen Jianqiu sat down on the chair beside him.

"Sir, have we met somewhere?" Sabo spoke first.

"My surname is Chen, and I used to stay in your hotel. As you can see, I also run a silver mine, but I'm not in Arizona." Chen Jianqiu answered while taking out a comic book from his pocket.

"Oh, oh, I remembered, it's you?"

Sabo didn't even think about the fart at all, but he knew that this person must have been to his hotel.

Years of experience in hotels made him not as straightforward as a typical westerner, but rather familiar.

"What's the content of today's meeting? It's so lively?" Chen Jianqiu looked around.

Saber looked surprised:
"you do not know?"

Chen Jianqiu shook his head: "I don't know, I don't care too much."

Sabo was even more surprised: "Oh, Mr. Chen, you really have a big heart. The business of silver mining needs to be watched all the time. You must know that those so-called managers and miners are not reliable!"

Chen Jianqiu shrugged: "The income from the mine only accounts for a very small part of my income, so I don't care too much, just let them go."

He was telling the truth, but in Sabo's view, it was too shocking.

He caught a glimpse of the two shiny golden revolvers on Chen Jianqiu's waist.

Having dealt with precious metals for a long time, he could tell at a glance that this gun was made of pure gold at least on the surface, and the workmanship was exquisite.

"Mr. Chen, you really are."

Sabo's attitude became extremely respectful. He was still considering his words, but Chen Jianqiu continued to ask:

"Mr. Sabo, you haven't said what the meeting will be about."

"Oh, you said it would." Sabo regained his composure, "The association intends to put pressure on the Congress to let the government start minting silver coins again, or buy silver again."

"Oh?" Chen Jianqiu put down the comic book he was about to open, showing great interest.

"Yeah, now there are more and more silver mines, and their uses are limited, and the price has fallen so badly. If the government doesn't take action, we are all finished!"

Saber added.

"Clang clang clang!"

Someone rang the bell on the table in front of him.

This means the meeting is about to start.

Chen Jianqiu picked up the comic book again, listening to the six patterns with his ears, and watching the four frames with his eyes.

"Members of the association! Dear mine owners, before today's meeting starts, I would like to invite a heavyweight guest to spread some knowledge to everyone."

The person standing in front of the stage and speaking was a man with a big beard.

He is the president of the Western Silver Association.

However, the big bosses below are somewhat disapproving.

They are not very interested in things like knowledge.

"I have invited the famous economist, Mr. Milton Friedman, everyone welcome!" The president made an invitation gesture to the audience.

A middle-aged man in a suit wearing a gold-rimmed pince-nez stepped onto the stage.

His outfit seemed a bit out of place with the venue, and when he spoke, it was the same:
"It is well known, gentlemen, that gold and silver have always been symbols of wealth, and have long circulated as money themselves."

He pulled a one-dollar bill from his pocket.

"We have replaced them with banknotes now, but this does not mean that they are eliminated. I believe everyone here believes that currencies that cannot be converted into gold and silver are worthless."

Chen Jianqiu flipped through the comics and listened to the economist's speech.

What he said is the consensus of people in this era.

Paper money is nothing but a bill of exchange for gold and silver.

However, economists changed the subject:
"But our president, Mr. Cleveland, influenced by those elites in New York, is uncharacteristically obsessed with the 'gold standard' system, and he believes that only gold can be pegged to the dollar."

"But that thinking is terribly wrong."

"It is dangerous to use only one precious metal as a standard of value, because once its supply and demand conditions are affected, the fluctuations in the price level will be catastrophic."

"So, I'm very much in favor of bringing the government back to bimetallism! That means restoring the status of silver."

"We hope that the government can purchase an additional 450 million ounces of silver every month, and at the same time purchase at the price before 1873, and pay with newly issued banknotes. At the same time, these banknotes can also be exchanged for gold or silver at the government. !"

For Friedman's speech, most of the people below basically don't understand it.

They understand only the last sentence.

Let the government buy their silver!It is still a coin purchase price that is much higher than the market price!

So the mine owners cheered and whistled in support of the economists.

But Chen Jianqiu, who was looking at the comic book, frowned.

It's an idea that can't be beaten again.

450 million ounces is not a small number.

The resulting additional currency issuance will have a considerable impact on the market.

Most critically, if this news is put into the market, it will be seen as an abandonment of the gold standard.

But the people's ideas will not be reversed so quickly.

In their view, a dollar without a gold peg would be nothing more than waste paper.

So, when the time comes, a run will inevitably happen!

If the federal government is pressured to accept the proposal, it will be a real disaster.

However, based on Chen Jianqiu's understanding of Cleveland and the Democratic Party, the possibility of their acceptance is very high.

The Democrats are obsessed with replicas, and on this point they are at odds with the Republicans.

Cleveland, who entered the palace for the second time, is now just like the man caught between his mother-in-law and daughter-in-law, carefully weighing the political balance in Congress.

But his clumsy ability decided that he was angry with both sides, and neither side was good.

Chen Jianqiu's expression didn't change much, but he had already closed the comic book on his knee.

Economists have stepped down.

The chairman reappears.

His speech was much more straightforward and concise:

"Those gold supporters in New York are collaborating with Europeans to plunder our wealth! Because the center of gold trading is in London! And silver is the hope of the future of the United States!"

"Let the government buy our silver!"

I don't know who shouted from below.

The echoing voices in the venue became one, and it became noisy again, and some people even proposed to cooperate with the miners. ,

This is really the second miracle in labor-capital relations in this era besides Chen Jianqiu.

"We can join the trade unions and put pressure on the government!"

"Yes, we are all exploited! We should stand with the workers!"

The faces of these silver mine owners were flushed.

Not every one of them has been in the mines or worked as a miner, but their expressions now, as if those miners are their brothers.

Only one person behaved abnormally calmly.

Chen Jianqiu stood up and put the comic book into his pocket.

"Ah? Mr. Chen, are you leaving?" Only Sabo found that Chen Jianqiu was about to leave.

"Ah."

After Chen Jianqiu nodded, he turned and walked out of the venue.

(End of this chapter)