Obtaining a loan is always extremely important, Yu Huizu Zhang Kun's itinerary can only be a temporary stay in New York, because Yu Huizu's identity represents the number of heavens, so he can't come forward very conveniently, and although Zhang Kun is the general office of the Kwantung Bank, he is still extremely embarrassed in New York, so that he and Xie Taofu, an independent financial operator, and Homer Lee's representative Mr. Allen went to Wall Street 23 together, which is the headquarters of the Morgan consortium and the center of gravity of Wall Street.

In fact, according to the information learned from previous investigations, American bankers do not like to deal with the Chinese, or rather do not like to deal with the Manchu government, a country without a central army, a country without a professional budget system, a country that often rules by raze, all of which make those bankers feel headaches. In particular, the last one is that those Chinese officials never keep the negotiation secret, and often use their own terms as bargaining chips with bankers from other countries, and then turn their heads to demand that they give themselves more favorable terms with the conditions obtained by these bargaining chips, and what is even more infuriating is that in the end of the negotiations, the officials' choice is not to decide on preferential terms, but to obey the will of the above, which is not a negotiation based on commercial interests at all, and in many cases who to sign with depends on the preferences of those in power. After all, in the financial field, China is the sphere of influence of Britain, France, Russia and Germany, and it is extremely difficult for Americans to squeeze into it, and the only successful example is the Tonghua Railway in Liaodong, but this is not Morgan's achievement. Rather, Harriman and his partner, the Jew Jacob. Schiff's achievement, they were good people, and they only stabilized Morgan with rhetoric that didn't cost a penny. On the other hand, it is reaping the benefits in China.

Zhang Kun and Xie Taofu did not meet Morgan himself, this guy is over seventy years old, and many things are handed over to his subordinates, such as George. Mr. Perkins. He was the general steward here, but Morgan was not happy with him, and after a few years, he was forced to resign voluntarily. He will be replaced by Harry, who is sitting next to him. Davidson.

"Oh. If you are the fiscal representative of the Renaissance Society, then ...... How do we confirm your identity? Dear Mr. Zhang, Mr. Perkins elegantly crossed his hands and observed the unchanging Chinese in front of him. He only felt that this young man had sophistication and calmness that did not match his age, and that when he was his age, he was only an assistant in the consortium.

Asked the assistant beside him to hand over two documents, Zhang Kun said, "This is my power of attorney." There was also a telegram from Mr. Cheng Cheng, the chairman of the council. I think these two texts are enough to prove my identity. ”

Davidson, on the other side, took the text. After taking a closer look, he nodded to Perkins, in fact, all he wanted was a passable certificate, as for whether he was real or not, this could only be finally confirmed after meeting Yang Jingcheng after the formal agreement was reached.

"Alright! Gentlemen, the last time Mr. Allen told us that you needed a large sum of money, about fifty million dollars, we had no idea what kind of loan it was. But then we learned something......" Perkins said as he looked at Zhang Kun's expression, but he didn't get anything. He continued: "Mr. Yang of China needs this large sum of money to make his revolution and change the status quo of this country, and as an American, a representative of the civilized world, we including Mr. Morgan agree very much." It's just ......," Perkins said, after adjusting his bow tie, "it's just that it's a very large loan, and the risk is very high, and we are still hesitant after careful consideration, but Mr. Allen has done a lot of work, and he has convinced us, yes, it is so." He proposed a new plan, that is, an installment loan, that is, not a lump sum payment of 50 million dollars, but according to the speed of the advance of the revolutionary army. ”

Speaking of which, Berkins handed over a brief map of China, with red dots on Nanjing, Jinan, Shandong, and Beijing, and waited for Zhang Kun and others to see the picture before saying: "If the revolutionary army occupies Nanjing, then we will pay a loan of 10 million US dollars, and if we occupy Jinan, Shandong, then we will pay another 10 million US dollars, and if the revolutionary army occupies Beijing, then gentlemen, congratulations, the revolution has succeeded!" The remaining $30 million will be paid to you within a month. ”

Zhang Kun had never believed that the Americans would be so generous, but now when he heard their plan, he had a feeling that it was indeed so, and only waited for the interpreter to finish all of Berkins's words before he asked: "Mr. Berkins, I would like to know some details of the loan, it should also include some other conditions, right?" ”

Seeing that the Chinese did not question the whole plan, Perkins smiled, "Yes, Mr. Zhang." The plan is also included in some details. In the first two loans, we needed a certain amount of collateral, such as the collateral of the Tonghua Railway, and some shares of the Tianzihao Company, such as the shares of the steel mill near Nanking - as far as I know, it had already started production - which was an important basis for the loan, gentlemen, which was very important. ”

The Tonghua Railway is worth more than 20 million US dollars, even if it sold a lot of shares to Harriman last time, but it is worth more than 10 million US dollars, and the Ma'anshan Iron Works is close to 10 million US dollars after investment, and the difference between the two collaterals and the loan amount is not much, but this is no longer a risk loan, but a mortgage, although the risk is deposited, but if the revolutionary army occupies Nanjing, then the iron works and the railroad in the US sphere of influence will be completely risk-free.

Thinking about the Americans' calculations, Zhang Kun asked again: "May I ask Mr. Berkins, apart from this important foundation, what are the specific conditions of the loan?" ”

"Oh......" Perkins didn't speak, but just motioned to Davidson next to him, only to see the wide-chinned, resolute-looking American said: "The first installment of the loan will be paid at an eighty-fifty percent discount with an interest rate of twelve percent; The second installment of the loan will be delivered at a 93% discount with an interest rate of 8%; The third installment will be delivered at a 97% discount with an interest rate of 6% and a loan term of one year. In addition, we need a railway. For the railway from the coast of Jiangsu to Xinjiang, according to international practice, the minerals on both sides of the railway will be owned by the railway investor. Fifteen years later, the railroad will be redeemed by the Chinese government, but the minerals next to the railroad will not be included. And we need to—" Davidson seemed unfamiliar with the latter conditions, and added, "We also need a first monopoly on spruce pulp and a second monopoly on oil, both of which will last for fifteen years." ”

Davidson finally finished saying the conditions, Zhang Kun didn't understand English and didn't react for a while, but Xie Taofu was taken aback. For the Americans, this is completely risk-free, the first $20 million is completely mortgaged, and the next $30 million has already occupied Beijing when it is given. Then what do you have to do with the Americans, the British, the Germans, the French, which one is not good. His face was slightly red, as if he was talking, but he was held down by Zhang Kun next to him.

From his reaction, Zhang Kun knew that the other party's conditions were extremely bad. But he still wanted to see what kind of bad law this condition was. After listening to the interpreter's explanation. After telling his assistant next to him to calculate the amount of the railway from the seaside of Jiangsu to Xinjiang, he smiled at Berkins: "The person who came up with this plan must be a genius!" In fact, this loan only talks about the mortgage of the first 20 million, and I believe that the loan terms given by any bank in the iron works and railways combined will not be like this. Mr. Perkins, you don't seem to be sincere in taking out a loan? ”

"The terms of the loan may be a little high, but dear Mr. Zhang, this loan not only contains economic assistance, but also political assistance, and we can promise it after the occupation of Beijing by the revolutionary army. The U.S. government will recognize the new government within six months, and it will also commit to helping the new government lobby other countries. Let the new government be recognized by all countries as soon as possible. And, most importantly, dear gentlemen, we will persuade other countries to remain strictly neutral when the revolutionary army marches into Peking, which is of the utmost importance to your revolution.

Think about it, dear Zhang, now the British, the Japanese, and even the Germans are all on the side of the Qing government, and in the last battle, even if you were victorious, you could not even occupy Hangzhou; And the Yangtze River, gentlemen, as far as I know, there is no ready-made bridge over the Yangtze River, and if you want to cross it, you can only cross it by boat, but the Yangtze River is an international waterway, and if the British and Japanese navies are on the side of the Qing government, you may have to confine yourself to the area south of the Yangtze River......"

For this loan, Berkins has long been in control, according to his information, the Chinese are very afraid of foreigners, as long as foreigners say no, then they dare not do anything, this fear is directly proportional to their civilization process, the more people who have been educated in civilized time, the more they maintain a kind of respect and fear for the West, only those peasants who do not know anything will face the machine gun charge. Judging from their understanding of the Renaissance Society, they attach great importance to receiving knowledge of the civilized world, and the legendary leader Yang has spent a lot of time in New York, and Perkins believes that his reasons will be recognized by the other party.

Negotiations are always long, and today's negotiations are only to understand Morgan's intentions and the details of the loan, and the next meeting will be the official response of the Revival Council, after all, the loan involves many details that cannot be determined in a short time. On the way back to his apartment at No. 23 Wall Street, Zhang Kun and Xie Taofu were depressed, the reason why the Americans dared to mention such a condition was because the warships of various countries on the Yangtze River would accept the invitation of the Manchus to shoot warships on the Yangtze River to intercept them, and China would divide the Yangtze River into two countries, the north and the south.

"Let's send a telegram to Mr. Jingcheng." Xie Taofu returned to his apartment and reclined on his chair with weak breath.

"Nope. We still have to do some research first. Zhang Kun said. During today's negotiations, he saw the pride in Perkins' eyes and the pity in Davidson's eyes, which made him very uncomfortable, but these always made him feel that there must be someone else who is so confident in the Americans.

"What to investigate, how to investigate?" Xie Taofu has been abroad for a long time, and he does not understand the situation at home.

"It's to see if the Americans have reached any agreement with the Manchus, as far as I know, when they came out, Zhejiang's railway was said to be built with money from the British, and Sheng Xuanhuai had already signed a contract. The Congress meant that the contract was illegal, while Sheng Xuanhuai said that the railroad had been signed several years ago and was only being implemented now. The British got the benefits. Several other countries also want benefits, so they don't know what they promised to the United States. Zhang Kun said, after he finished speaking, he sent a telegram back to China. He believes that there must be some action in the country.

"That means that the Americans were held back by Zai Ze and Sheng Xuanhuai, so they prescribed such an extremely harsh condition to us? In fact, they didn't want us to take out a loan, but they were afraid that the Manchu side would not get the benefits, so they had to hang us first, and as soon as the Manchu side agreed, they would find another excuse to reject us? Xie Taofu said.

"That's pretty much what it means. I just don't know where the Americans get the benefits from? And what exactly does that railway from Jiangsu to Xinjiang mean? If he wants to connect to the Central Asian Railway in Russia. Isn't that a conflict with Harriman's plan? Zhang Kun looked at the map of China, guessing the plans of these Americans, isn't that Stade doing something again?

Zhang Kun's Stade is the U.S. consul in Shenyang. His full name is Willard. Dickman. Strett, who is just a young man in his twenties, graduated from the Department of Architecture of Cornell University and was admitted to Beijing Customs in '02. During the Russo-Japanese War, he reported for Reuters and the Associated Press. In Seoul, he met Harriman, the railroad king, and began to rise to prominence. However, Harriman did not want his daughter to marry this young man with no family background, because he and Harriman were not as close as before, and because President Roosevelt insisted on forming a US bank syndicate in order to get a share of the cake in China, he linked Stade and the bank group to the present. Stade has become the chief representative of the American banking syndicate in China, and the chief member of the syndicate is Morgan.

Zhang Kun's words made Xie Taofu think of something. He said: "Some time ago, the shares of Pacific Railroad and Pacific Cruise Ship Company fell a lot, and it is said that Harriman's plan for a global transportation network failed. The Russians, short of money, were reluctant to sell the Trans-Siberian Railway. ”

"Ahh Zhang Kun sighed softly, he only felt that his luck was too good, if Harriman's plan went bankrupt two years ago or a year ago, it would be a loss for the Kwantung Bank and the Renaissance Association, the Tonghua Railway was expanding to the north under the brand of the Americans, and the last stock market arbitrage also relied on Harriman's support, if he knew at that time that the global railway network could not be realized, then the matter was ......, and Zhang Kun said for a long time: "Morgan wants to build the railway from Jiangsu to Xinjiang and connect with the Russians' Central Asian Railway, I also have a global transportation network. But he, he doesn't have a railroad or a steamship company in the United States? ”

"It is true that there is no railroad, but the British White Star steamship is controlled by him," Xie Taofu took out today's New York Times and read: "The White Star Company plans to start building three unprecedented cruise ships next year, which will be 880 feet long...... That is, it is 260 meters long and 28 meters wide, with a tonnage of 46,000 tons and a displacement of more than 60,000 tons...... These three cruise ships are named Olympic Good, Titanic, and Giant in turn. ”

Hearing this information added by Xie Taofu made Zhang Kun understand the role of the railway from Jiangsu to Xinjiang, but this railway is not something that the Americans can build, Xinjiang has always been the sphere of influence of Britain and Russia, and now the Bianluo Railway is about to be completed, which is a branch line of the Jinghan Railway mastered by the French. Even if this 4,000-kilometer railway is to be built, it will have to be divided among all the powers. It seems that the Americans really don't want to lend money to the Renaissance Society, so they put forward this difficult condition.

Even with the time difference, Zhang Kun's telegram to inquire about China had a reply before sunset, saying that the Americans were talking with the Manchus about the railway that Harriman had talked about before, but the difference was that Harriman wanted to build it from Changchun to Qiqihar, and now Si De's plan was to build the Dongqing Railway from Xinmintun to Aihui, and then connect it with the Tonghua Railway in Baicheng. The US banking syndicate will contribute $20 million to the establishment of banks in the three eastern provinces, and the money will be used to build industries and reform the value of the currency in addition to road construction.

"That's the idea!" Although the Kwantung Bank has been separated from the Manchu Qing Dynasty Bureau, the entire Northeast recognizes the tickets of the Kwantung Bank after borrowing chickens and laying eggs, and with the help of the agricultural trading company, the share of the banknotes of the Kwantung Bank is already the first in the entire Northeast, and it has become the official currency. Harriman was building railroads, Morgan was banking, and the two were running in completely different directions.

Zhang Kun's telegram was transferred to Xie Taofu again, and after reading it, he also understood Morgan's plan, and only asked: "Wasn't this railway negotiated between Harriman and Tonghua Railway before, and why is it now transferred to Morgan's hands?" Moreover, if the railway is not connected to the Tonghua Railway Company in the Northeast, are we not afraid that we will join forces with the Japanese and the Russians to stop this plan? ”

"Harriman has long been out of money by last year's stock market panic, and without money, there is no way to build the railroad." Zhang Kun said: "As for stopping, I don't know what Mr. will do." Let's talk to someone else about the 6 million taels loan first. I'll wait for Mr.'s telegram for the rest of the news. ”

There is nothing more helpless than being dragged into an unnecessary war of attrition. Before Zhang Kun's second telegram came, Yang Rui was already very clear about what the Americans were going to do. Morgan didn't want to lend money to the Renaissance Society at all, but he didn't want to lose this customer, after all, the situation in China was constantly changing, and the military flag of the Renaissance Society stood tenaciously in Yanzhou and Linxi, leaving the Manchus with nothing to do. Before Yang Rui planned the Tonghua Railway, he had the intention of building it to the north, but last year Harriman suffered heavy losses in the stock market and could no longer come up with the money, and now the Americans have completely abandoned the Revival Society and delusionally wanted to contact the Manchu government in person. They also don't want to think about it, even if the Russians are leveled, will the Japanese agree? Of course, the Fuxing Society does not have the energy and funds to build railways in the Northeast anymore, so the position of the Tonghua Railway Company is very embarrassing, and it will either be dragged into this bottomless pit, or it can only stand and watch without saying a word.

I only hoped that the Japanese would teach the Americans a hard lesson, and after thinking about this, Yang Rui put this matter aside. He is now in the Ma'anshan Iron Works, in the last few days of 1908, the iron works have begun to produce iron, which is much faster than Yang Rui expected, after all, the materials of coal mines and railways in any place are different, if you want large-scale production, then the coking ratio of various coal qualities, and the trial of pig iron will take a long time, this is not how to achieve the optimal cost, but whether the trained iron is qualified.

"The iron ore in Ma'anshan is worse than that in Liaodong and worse than that in Hanyang, only a small part can be directly put into the furnace, and most of the others have to go through beneficiation, which increases a lot of costs." At night, Du Yaquan, who was transferred to Ma'anshan, accompanied Yang Rui to visit the entire production area, and the first thing he said when he introduced the iron factory was to complain. The output of the Ma'anshan Iron Works has been expanded to 300,000 tons and 100,000 tons of steel, but this output is not to be achieved at the beginning, and now the iron plant produces 200,000 tons of iron and 50,000 tons of steel every year, which is already the largest iron plant in Asia.

Looking at him with a businesslike appearance, Yang Rui smiled and said, "It's already a miracle that you can train iron so quickly." As for the cost, China is originally poor and has a lot of mines, Ma'anshan at least can still have iron ore into the furnace, the iron factory wants to make money, it can only rely on the Huainan coal mine to subsidize, the cost of coke there is still better than the Ping coal used in Hanyang, right? ”

Du Yaquan nodded and said: "It is much cheaper than Pingcoal, coke is nine taels, cheaper than Pingmei eleven taels, and now Sheng Xuanhuai has let Pingxiang limit production, thinking about transporting our coke to Hanyang." It's just that from the side of the iron factory, the price of iron is cheaper than that of foreign iron, but the price of steel is indeed more expensive. ”

Listening to Du Yaquan talk about the cost, Yang Rui smiled and said, "How much is your iron price now?" And how much is the price of steel? ”

"The price of iron is sixteen taels, and the price of steel is high, to nearly thirty taels. The technology is not as good as people! If I hadn't known that the coal mine was making money, I wouldn't have the shame to be the head of this iron factory. "Du Yaquan wants to be perfect in everything, but the technology is not as good as people, and there is no way to do it.

The finer the development of technology, the smaller the role that Yang Rui can play, before he also whimsically proposed a furnace top oxygen blowing method, but the fact has humiliated him, steelmaking and oxygen blowing others have long thought about it, but before the emergence of large air separators, the cost of oxygen blowing is extremely high. He didn't know anything about Du Yaquan, so he had to say: "The British don't want to compare, it's good to be lower than the Japanese." Nanyang dumped it vigorously on me, so that the Japanese steel could only be sold in China. (To be continued......)