America 1881: They Call Me Legend

Chapter 478 Black Friday

Sanjiang Bank, 1893 Wall Street, February 2.

Mr. Greg Okafor should have been very proud.

As the general manager, Sanjiang Bank became the largest bank in the west in less than 10 years under his management, and moved its headquarters to Wall Street. up.

But at this moment, he was not happy at all, and looked worriedly at the long line of people waiting to pay outside the window.

He knew that such a long queue also appeared in every branch of Sanjiang Bank in the United States.

As a senior financial practitioner, this situation makes him shudder.

Okafor's strong pectoralis major does not give him any sense of security at this time.

"What are you doing at the window, come, drink tea."

At this time, the only voice that could make him feel at ease came from behind.

Chen Jianqiu was wearing a loose cloth robe, sitting on a wooden chair, making Kungfu tea with great interest.

In the tea wash on the side, the first undrinkable tea liquid was poured out, and there was a curl of green steam, and the fragrance was refreshing.

Okafor turned around and walked to the side of the coffee table, took a cup of tea handed to him by Chen Jianqiu with both hands, put it to his mouth and took a sip.

"How about it, isn't it good? The top-quality Biluochun was shipped from the east, but it's a pity that it's old tea from last year. I'll see if they can collect some before the Qingming Festival this year. There are quite a few people who are counting on it."

The eager guest in Chen Jianqiu's mouth refers to little Astor.

He now likes to drink tea very much, and under his influence, a group of rich people and politicians in the upper class of New York are also addicted to tea ceremony.

Okafor drank the remaining tea in the teacup and put the teacup on the coffee table at the same time.

He looked at Chen Jianqiu worriedly:
"Boss, since the federal government promulgated the "Sherman Silver Procurement Act", more and more of our customers are selling their assets and cashing them into gold. I am afraid that the pressure on the follow-up banks will be great! "

The "Sherman Silver Procurement Act" mentioned by Okafor is exactly the same as what Chen Jianqiu heard at the Silver Association a few years ago.

Society and bimetallic proponents marketed their ideas through various channels, putting pressure on the president through Congress.

In the end, Cleveland had no choice but to sign the bill.

He doesn't want to see the Democratic Party fall apart during his tenure.

The federal government began to purchase silver in large quantities and issue paper money.

But the battle-tested Americans are not so easily fooled.

The move was seen as an abdication of the government's commitment to the gold standard.

As a result, a large number of property owners began to sell their assets and exchange them for gold.

And the same behavior, Chen Jianqiu was doing it a few years ago, and he has now hoarded tens of millions of dollars of gold in his hands.

"I asked you to control the authorization and scale of credit a few years ago. You didn't say anything at that time, and you must have blamed me for being conservative in your heart, right?"

Chen Jianqiu held the teacup with two fingers, tasted it slowly, and said slowly.

"But, I'm still worried." Okafor was still a little worried.

Despite having a strong gold reserve, he still worries that Sanjiang Bank will be greatly impacted.

"This is an opportunity, the winner takes all, rest assured, we will not be the ones to fall."

Chen Jianqiu finished drinking the tea in the teacup and began to pour the second cup.

At this time, Silas came in from the door with a bag in his hand.

"Mr. Chen, are you looking for me?" He glanced at the fidgeting Okafor and the contented Chen Jianqiu, and then began to look around the office.

This is the first time Sanjiang Bank has come here since its headquarters moved to New York.

The furnishing and decoration of this office looks like a rather oriental style, with paintings and calligraphy hanging on the walls, and wooden oriental-style furniture placed in a very elegant orientation.

"Here?" Chen Jianqiu took out a new teacup, picked up boiling water from the stove beside him with his right hand, and poured it on the teacup.

After ironing the tea set, Chen Jianqiu poured another cup of tea into the teacup.

"Come, drink tea." He pointed to the wooden chair opposite.

Silas sat down, put the bag by his side, and took the teacup at the same time.

"How many shares of the Pacific Railway Company do we have left?" Chen Jianqiu asked.

"Less than ten percent."

"Where's the Santa Fe Railroad?"

"About fifteen per cent, Mr. Hauke ​​of the Philadelphia Railroad bought the majority of our shares."

Silas blurted out.

For the past few years, he has been operating this matter, so he is not familiar with the data of these matters any more.

"On the third Friday in April, sell all the remaining shares for me." Chen Jianqiu drank the second cup of tea.

Silas and Okafor were stunned, and they looked at Chen Jianqiu at the same time.

"This will bring great volatility to the market!" Silas reminded seriously.

About [-]% of the stocks of the two railway companies does not seem to be much, but if they reduce their holdings and sell them at the same time, it will cause quite a stir.

Chen Jianqiu smiled.

He began to pour himself a third cup of tea:
"Yes, but what has that to do with me?"

More than two months later, Washington, April 4, the third Friday in April.

Mr. Carlyle, who was the Minister of Finance at the time, was routinely interviewed by various newspapers in the East.

Carlisle, a gray-haired Democrat with a pouty pout, always looks unhappy from a distance.

He is known for his honesty and integrity, which makes him an unlikely politician.

It is also because of this that he has an outstanding reputation in the party and was able to take the post of Minister of Finance.

"Mr. Carlyle, there are rumors that a large amount of gold is flowing from China to Europe?" A reporter raised his hand and asked, "It is said that some European companies began to refuse to accept payment in U.S. dollars and asked to use gold."

"This is a normal business practice, and we have no way to control the choice of European companies." Carlisle leaned on the sofa, with his hands resting on the armrests.

"There are also rumors that Europeans have been selling silver to the US government, which has directly led to a further decline in silver prices. Is there such a thing?" another reporter asked.

"The government purchases silver on the market in accordance with the Silver Procurement Act, but it doesn't ask where the silver comes from." Carlisle's expression didn't change much, and he seemed to be falling asleep.

"Then Mr. Carlyle, what do you think of the recent hoarding of gold?" The third reporter asked.

If Carlisle was calm when he answered the first two questions, this question made the Minister of Finance's face suddenly turn sour.

His mouth seemed to be pouted slightly again.

"Many newspapers in the country are not very responsible and over-interpret the government's policies. Our silver procurement bill does not mean that the federal government will abandon the gold standard."

"These rumors are full of malice, but many people believe this. With all due respect, this is an irresponsible behavior. I think there is no reason for everyone to lose confidence in the dollar."

The finance minister's answer seemed to carry a lot of personal emotion.

"These behaviors are badly oriented. If everyone holds dollars and asks to exchange them for gold, the gold in the treasury is simply not enough for exchange."

The interview scene instantly became silent.

Everyone is pondering what Carlisle's words mean.

Eventually a reporter from The New York Times raised his hand.

"Mr. Carlyle, what you said just now, may I understand that the government's gold reserves are no longer enough?"

The reporters present, including him, did not expect any positive answer.

But Carlisle is tired of the intrigue in the Democratic Party and those stupid B-senators spitting shit in Congress.

Plus, he's not very good at telling lies.

So, one word was earth-shattering.

"Yes, the government's gold reserves have fallen to a rare low. I can't say how much, but we are indeed facing a crisis!"

This sentence stunned all the reporters present.

Their pens are quickly recording in their respective notebooks, and the news will soon spread to the entire east, even the whole country, through their respective newspapers.

While Carlisle was being interviewed by reporters.

On the New York Stock Exchange, Silas sold all the shares of the railway company for Chen Jianqiu.

On that day, the stock prices of the two railway companies plummeted.

(End of this chapter)