1850 American Gold Tycoon

A train loaded with gold quietly pulled out of the train station in Washington, bound for New York.

This particular train had not only Treasury Department officials on board, but also half a regiment of Marines.

Fillmore attached great importance to this batch of gold. For insurance reasons, Fillmore ordered the top commander of the Marine Corps, Colonel Fox of the Marine Corps, to personally escort this batch of gold to ensure the safety of this batch of gold.

This is gold worth $5 million! This is still calculated based on the exchange ratio of 117:100. According to the current exchange ratio, the actual value of this gold has exceeded 6.5 million US dollars.

Corwin looked at the gold on the train reluctantly, thinking that after the gold arrived in New York, it would be put on the market, and Corwin couldn't help but feel like a knife.

After the gold from the federal treasury arrived in New York, the Secretary of the Treasury gave a speech on Wall Street. Corwin unceremoniously rebuked speculation in the gold market and announced that in order to maintain the stability of the value of the U.S. dollar, he would prove that the U.S. dollar is still very trustworthy and valuable. Very strong currency.

The federal government will participate in the rescue and put more than $15 million worth of gold reserves into the gold market on Wall Street in New York to stabilize the exchange rate between the U.S. dollar and gold.

As soon as Corwin's news was announced, Wall Street and even the entire state of New York exploded.

The impact of Corwin's speech on Wall Street was immediate.

In just half an hour, the exchange rate between the U.S. dollar and gold plummeted from 158:100 to 141:100.

A large number of gold speculators are eager to exchange their gold futures and gold into US dollars, hoping to get out of the quagmire of the gold market.

However, gold futures and gold, which were being snapped up an hour ago, have now become abandoned in the market.

No one wants to buy something that is depreciating rapidly.

Of course, there are also a few people who are lucky enough to think that the Finance Minister is exaggerating and deliberately releasing a smoke screen to deliberately cause panic in the market.

They feel that Corwin's announcement that the federal government will invest $15 million worth of gold to rescue the market is an outright lie. After all, so far, no one has seen the gold put into the market by the government.

Soon, these speculators regretted it, because heavily armed Marines from Washington escorted truckloads of gold through the market and entered the gold exchange on Wall Street in New York.

Along with gold, officials from the Ministry of Finance also entered the gold exchange.

Speculators flocked to the trading floors of gold exchanges to trade.

Looking at this scene, Corwin, who seemed calm on the surface, was actually panicking because the value of the gold invested by the government to rescue the market was only US$5 million instead of the US$15 million he had promised in his speech.

If the gold is not enough, the Treasury Department will continue to move gold from federal vaults to rescue the market.

"Sir Corwin."

Liang Yao walked to Ke Wen with a smile on his face and said to Ke Wen.

“In order to ease the pressure on the government to rescue the market, Bank of America will contribute $1 million worth of gold to participate in the government’s rescue activities.

Stabilizing the value of the U.S. dollar means stabilizing the U.S. economy, and stabilizing the U.S. economy is the unshirkable responsibility of all U.S. commercial banks. "

New York State Governor Hunter has helped Liang Yao obtain a license from the New York State Assembly for Bank of America to open a branch in New York.

The New York branch of Bank of America has been established for three days. Although the recruitment of staff has not yet been completed, many businesses have not yet been launched.

But it is more than enough to pool the existing manpower to handle the gold and dollar exchange business.

"Really? Thank you so much." Ke Wen rolled his eyes at Liang Yao angrily.

"Should I still give your Bank of America a pennant?"

Corwin is not a fool. He knows very well that the sudden rise in the price of gold in New York is closely related to the gold tycoon in front of him. But he didn't have any evidence.

"There's no need for a banner." Liang Yao said with a smile.

"But Your Excellency, I have to remind you that both the newly emerging futures market in New York and the futures market in Chicago have big problems. It is easy for speculators to take advantage of the loopholes. This time, there are just some people speculating on gold. At most, there will be more on Wall Street tomorrow. Speculators who went bankrupt and jumped off the building.”

"You might as well speak more clearly," Corwin said.

"Next time someone manipulates wheat in Chicago, the problem will not be as simple as some speculators jumping off the building. You know, the folk customs in Yinlino have always been very simple." Liang Yao said.

"The leverage ratio in the futures market is too high, only one percent. The threshold for speculation is very low. It is inevitable that there will be speculators willing to take risks."

Liang Yao originally wanted to say illegal speculators, but then he thought about it. The United States does not have any laws and regulations to regulate futures, a new thing. The behavior of maliciously speculating futures cannot be said to be illegal, but at most it is immoral.

Morality is far less binding on people than law.

"The leverage ratio in the futures market does need to be controlled, but a leverage ratio that is too low will also reduce the utilization rate of funds and make the futures market lose its vitality."

Kewen asked Liang Yaodao after thinking carefully.

"What do you think is a suitable leverage ratio?"

"You are the Minister of Finance. I think you are better at this than me." Liang Yao thought for a while and said.

"If it were the futures trading market in California, I would recommend that the state Legislature legislate to control the maximum leverage ratio above 5%."

Ke Wen nodded thoughtfully, then put away the secretary beside him, spread his palms, and asked Liang Yaodao in a low voice.

“Can $5 million worth of gold bring the exchange rate between the U.S. dollar and gold back to 117:100?”

Liang Yao quickly realized that Corwin only brought $5 million worth of gold to Wall Street to rescue the market.

If Liang Yao hadn't started selling gold futures and gold, it's hard to say whether gold worth $5 million could save the market.

But Liang Yao had already secretly sold all the gold futures he held and gold worth more than 3 million US dollars, overdrawing a large part of gold's rising potential in advance.

The price of gold has actually reached its end and is not as strong as Corwin imagined.

"It's six million dollars worth of gold, Your Excellency Minister."

Liang Yao said to Ke Wen.

"The exchange rate between the dollar and gold will soon be back to where it was, or even lower."

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"Sir, as you expected, the government came to rescue the market! The price of gold fell a full 30 points in one day! It is expected to continue to fall when trading opens tomorrow!"

Charlie had just returned home from get off work at the telegraph office. Gould was already waiting for Charlie at the door of his residence.

Seeing Charlie return, Gould said to Charlie very excitedly.

"Sir, you are really good at predicting things! In just over a week, we earned US$530,000! A total of US$530,000!"

Charlie was not as excited as Gould. He just pulled out the key and opened the door of the rental house and said calmly.

"We only made $530,000, and someone made at least more than $1 million, or even more than $2 million, from it."

After entering the house, Charlie closed the door and locked it habitually. He walked to the desk and sat down. He took out a piece of white paper from the side and spread it on the table. He then filled the pen with ink and started writing.

"Are you talking about Liang Yao? There is no way, Liang Yao has invested far more money than us." Gould said biting his lip.

"Sir, you too will become a multi-millionaire one day!"

"Maybe after I become a multimillionaire, he might become a billionaire." Charlie said helplessly.

After writing the article, Charlie took out a check from Barings Bank from the side, filled in the amount of US$100 on the check with his left hand, and handed the check to Gould.

"This is Mrs. Brannan's living expenses for the next month."

Gould habitually took the check handed to him by Charlie, mumbling.

"Sir, every time I hand over the check to Mrs. Brannan, she always complains to me that $100 a month is not enough for living expenses."

"Ignore her complaints. Please remember that you work for me and you only need to be responsible for me." Charlie said seriously.

"The living expenses of US$100 a month are enough for her to live the life of a rich wife in New York. I can live well on a salary of US$12 a month, and I can still save three or four US dollars."

"I understand sir." Charlie nodded and said.

"The bonds of Yinli Railway Company are now very cheap. The $53 earned in the gold market this time was all used to purchase the bonds of Yinli Railway Company."

Charlie took a pot of water and put it on the coal stove to boil.

Boiling water can kill germs in the water and reduce the chance of contracting cholera. It is one of the experiences in New York's successful prevention and control of cholera.

After the cholera epidemic, many New Yorkers had already developed the habit of drinking boiled water. Rather than dying from cholera, it was more cost-effective to spend more money on coal.

After all, you can make more money, but you only have one life.

"Yes, sir."

Regarding Charlie's explanation, Gould agreed without any doubts.

Gould trusted his employer's vision even after Vanderbilt and Liang Yao announced their entry into the Eastern railroad market with new technology.

Railroad company stocks on Wall Street plummeted, and tragedy spread all over the place, but it was just like the gold market. Railway company stocks will also usher in its turning point, and Gould himself believes that the railway industry is a very promising industry.

Vanderbilt and Liang Yao came to disrupt the situation, which is not a bad thing for the railway industry.

At least some railway companies that should have been eliminated should be eliminated.

Charlie's ideas are more complicated than Gould's. Charlie not only thinks that the railway industry is very promising, he is also very optimistic about James, the president of Yinli Railway Company. He thinks that James is a very capable and courageous person who has the ability to lead Yinli Railway Company. The railway company has emerged from the crisis.

Moreover, according to the "New York General Railway Law" promulgated by the federal government in 1850, railroad company bonds were allowed to be converted into shares.

The railway industry is currently in a downturn, and the price of the bonds issued by Yinli Railway Company has plummeted from US$10 per share to US$3 per share, which is even worse than the decline of Yinli Railway Company's stock.

Buying these bonds of Yinli Railway Company now is a good investment. As long as the stock price of Yinli Railway Company rebounds and the company returns to profitability, the US$53 he spent today will become US$1.53 million or even US$2 million.

At that time, as long as he converts debt into equity, he will be able to become the major shareholder of Yinli Railway Company.

Seeing that the writing on the paper was almost dry, Charlie picked up the paper on the table, folded the paper and stuffed it into the envelope.

"Send my article to the editor of the New York Post."

Charlie handed the envelope to Gould and said.

Gould took the envelope and left Charlie's residence without any other instructions.

"Liang Yao, Liang Yao, although you have made a lot of money in the gold market, I will make the money you earn turn into a hot potato."

After Gould left, Charlie had a proud smile on his face.