Chapter 1010: New World Passenger Transport Company (Seeking Subscriptions)

"Mr. Marvell, Mr. Hoyle, Mr. Pereira, We have fully understood the demands and disputes of your three parties. Then let Us render a fair judgment! Are you willing to accept it?"

The Great Ming Emperor sat on a sofa, holding a cup of Marie milk tea, and with a smile listened to the demands of the representatives of England, Holland, and Portugal regarding the Indian Ocean settlement bank, and then proceeded to appoint himself as an arbitrator.

"Your Majesty, Portugal is willing to accept your judgment."

"Your Majesty, the Dutch East India Company is also willing to accept your fair judgment."

"The Commonwealth of England is willing to hear your proposal."

The Portuguese ambassador and the governor-general of the Dutch East India Company did not deliberate much before very readily acknowledging Zhu Cilang's right to arbitrate, while the English envoy was only willing to hear the proposal — presumably if the Zhu Emperor's judgment did not satisfy the English, they simply would not heed it?

Zhu Cilang did not quibble with the English, but said with a smile: "Then We shall speak. The settlement bank in India shall be organized by the English East India Company, and established in the Portuguese possession of Goa. The Dutch East India Company, for its part, may take shares in the Shenzhou United Bank, and may hold shares in Shenzhou Bank. Huang Jiang, Jabez, how much of Shenzhou Bank's shares can you release, and at what price?"

Huang Jiang said: "We can release twenty percent of the shares to the Dutch East India Company. As for the price — the capital of Shenzhou Bank we have set at two million taels of silver, so twenty percent is four hundred thousand taels."

Of course, there would not be as much as two million taels of silver transported from the Great Ming to Versailles outside Paris. There would only be a batch of valuable furs and pearl ornaments, along with a small amount of silver (as start-up capital), shipped to Europe — according to Zhu Cilang's plan, at the same time the Shenzhou United Bank was opened, the Jiale Market Firm and the Yiguan Trading Company (owned by Zheng Zhilong) would also enter Europe together. And the main business of Jiale Market and the Yiguan Trading Company would be exchanging furs, pearls, and tea for wine, raisins, butter, cheese, woolens, and various other mechanical equipment produced in Europe.

That is to say, Jiale Market Firm and the Yiguan Trading Company would not touch the cheese of the Dutch East India Company or the British East India Company.

In the Age of Discovery, cutting off another's source of profit was something that could trigger a naval war!

With the Great Ming's naval strength, it could not yet touch these two "sea overlords," Holland and England, so for the bulk commodities of East-West trade such as silk, porcelain, spices, and lacquerware, it could only refrain from touching them, and instead devote its energy to developing new commodities.

"Four hundred thousand taels," Zhu Cilang said with a smile, "is not a large sum for the Dutch East India Company, is it?"

"Of course it is not a large sum, and we can accept this price," Hoyle paused, "but we must appoint directors commensurate with this investment. In addition, I would also like to know who the other shareholders of the company are, and what the shareholding situation is."

Jabez took up the topic with a smile: "Shenzhou Bank was jointly initiated by me and Brother Shiren (Huang Jiang). At present we are the only two shareholders, with a capital of two million taels. The board of directors has not yet been formed, but director seats will certainly be allocated according to the shareholders' capital contribution ratios, and major shareholders will also be allowed, according to their contribution ratios, to send management personnel to participate in the bank's operations."

Zhu Cilang asked Hoyle with a smile, "Mr. Hoyle, what do you think?"

Hoyle nodded and said, "Acceptable."

"Your Majesty," Marvell interjected, "we English also wish to take shares in Shenzhou Bank, and the number of shares we hold should not be less than that of the Dutch East India Company."

Zhu Cilang said with a smile: "Mr. Envoy, this question should not be put to Us. We are not a shareholder of Shenzhou Bank."

Huang Jiang said with a beaming smile: "If England wishes to take shares, we of course welcome it, but can you, on behalf of the Commonwealth of England, produce five hundred thousand taels of silver for foreign investment? That sum is equivalent to one hundred fifty or sixty thousand pounds sterling!"

The pound sterling in theory should be one pound of pure silver, but England's finances before the Industrial Revolution were not ample either, so when minting pounds they did not stint on debasing them. By the mid-seventeenth century, the silver content of one pound sterling was only a little over one hundred ten grams, exchanging for a little over three Great Ming bank taels (a bank tael was ninety percent silver), so five hundred thousand taels of silver was equal to one hundred fifty or sixty thousand pounds.

In England at present, this was also a huge sum. Not only could Marvell not produce it, even the British East India Company could not suddenly come up with that much money — England in this era was not yet the overlord of the seas, and the Dutch had a larger share of maritime trade!

Moreover, the capital strength of the Dutch East India Company was far greater than that of the British East India Company.

So money that the Dutch East India Company could easily produce, England could not suddenly dig out.

Huang Jiang knew what England's financial situation was like, so he said with a smile: "If England wishes to take shares, we certainly will not object, but — please wait until we arrive in Europe to discuss this matter!"

Marvell immediately turned his gaze to Zhu Cilang: "Your Imperial Majesty, I hope that you can provide a guarantee for the Commonwealth of England's investment in the Shenzhou United Bank."

"No problem." Zhu Cilang thought to himself: How much longer does your Commonwealth of England have to live? This year is already 1657 — when does Cromwell die? 1658? 1659?

Zhu Cilang said: "We can sign a Settlement Bank Treaty to regulate the conduct of the five settlement banks."

"Your Majesty," the Prince de Condé interjected at this point, "France must also possess the right to invest in the United Bank at an appropriate time!"

Whatever England had, how could France not have it? Oh, except money! Presumably before Napoleon III came to power, France would not have the money to invest.

"Fine!" Zhu Cilang nodded.

The Prince de Condé added: "Furthermore, the name Shenzhou United Bank is also inappropriate. It should be renamed the Shenzhou–Europe United Bank."

Shen-Ou Bank?

"Very well." Zhu Cilang had no particular objection; it was only a name. "Then we shall sign a Shen-Ou Settlement Bank Treaty, by which the Great Ming, England, Holland, France, and Portugal jointly establish five settlement banks, responsible for settlement business between Europe and Shenzhou."

"Then... what about the question of loans?" asked the French envoy Colbert, whose greatest concern was obtaining a low-interest loan for France.

Zhu Cilang said with a smile: "No problem. We personally provide a full irrevocable guarantee of three million bank taels!" As he spoke, he extended his right hand, and Marie Mancini handed the Zhu Emperor the letter of guarantee, prepared in advance and written in both Chinese and French.

Zhu Cilang took the letter of guarantee and handed it to Colbert, saying with a smile: "With this letter of guarantee, the Shenzhou–Europe Bank will certainly provide the government of the Kingdom of France with a loan at the most favorable interest rate. As for the details of the loan, they can be discussed after the Shenzhou–Europe Bank formally opens for business."

He then said to the English ambassador Marvell: "We can also provide England with a guarantee of the same amount — but it will require the Parliament of the Commonwealth of England to pass a resolution guaranteeing repayment."

This matter could then be dragged out — Parliament was not Louis XIV with his "I am the state"! And whether England even had a Parliament now was hard to say!

As for the Stuart dynasty after the Restoration — the Zhu Emperor was quite happy to provide support! Because he had heard that the Stuart dynasty was quite reactionary, and was the target of the English bourgeois revolution, so of course the Zhu Emperor wanted to support them!

The gathering at the Pang family garden had now concluded. Most of the guests had already left, and only Zheng Zhilong alone had not yet departed.

Zhu Cilang still had some matters to discuss with him.

"Old Father-in-law," Zhu Cilang said, "We intend to establish a Pacific Passenger Transport Company, specializing in passenger transport business on the Pacific Ocean. Do you think this business can be done?"

Zheng Zhilong thought seriously for a moment, then said: "The Spanish galleons can make the run, so there is no reason our ships cannot. The problem is the high cost! How many people can one ship carry? How many round trips can it make? How much will the crew cost?

Furthermore, if we transport people to the Americas, what goods do we bring back? If the transport ships must return empty, then the freight will be far too expensive!"

(End of Chapter)