Chapter 719: Dollar Internationalization

International Monetary Organization—this body hasn't been established yet, but Asquith knows that after the war there will be a new international financial system. Rather than let the French and the Germans scramble for it, it's better to proactively give it to Meilika.

Give a favor, in return for a million troops.

This deal is worth it no matter how you calculate.

On the evening of the seventh day, the outline of land appeared on the horizon.

Asquith stood on the deck, watching the land draw nearer. It was Meilika, it was New York, the direction of the Statue of Liberty.

Laohe Qiaozhi walked to his side and whispered, "Prime Minister, Meilika's Coast Guard cutter is arriving."

Asquith nodded.

He gave the thirteenth‑revised draft agreement one last glance, folded it neatly, and slipped it into his pocket.

Then he straightened his collar and strode toward the gangway.

November 25, Washington.

The White House morning was far warmer than London's. Sunlight streamed through the floor‑to‑ceiling windows into the oval office, casting a warm patch of light on the floor. Outside, gardeners on the lawn were trimming shrubs; everything seemed so calm, so ordinary.

President Wilson sat behind his desk, coffee in hand, looking at the dust‑caked British Prime Minister opposite him.

Asquith looked ten years older than when they last met. His eye sockets were sunken, his face covered with weary lines, and his crisp suit hung loosely. Yet his eyes—those eyes were still bright, like two lamps in the deep night.

"Prime Minister," Wilson began, a diplomat's smile on his face, "you've had a hard journey."

Asquith nodded.

"Mr. President, thank you for taking the time to see me."

Wilson waved his hand.

"Yingguo is Meilika's traditional ally. When an ally is in trouble, Meilika naturally steps in."

He paused, and his smile faded slightly.

"However, Prime Minister, fourteen thousand men are already Meilika's current limit. Both in Congress and among the public, there is no support for a large‑scale plunge into the European war. You should understand our difficulty."

Asquith was silent for a few seconds.

"Mr. President, fourteen thousand men are a drop in the bucket on the European battlefield."

Wilson looked at him, saying nothing.

Asquith continued, "The Deguo have two million troops on the Western Front, the Faguo are on the brink of collapse, and Yingguo can only spare limited forces back to Europe. Without Meilika's full support, we may lose."

The four words "we may lose," he said lightly, yet each landed as heavy as a stone.

Wilson's fingers tapped the desk lightly—once, twice, three times.

"Prime Minister, Meilika does not want to lose. But Meilika also does not want to wager its entire fortune on a doomed ship."

Asquith stared at him.

"Mr. President, if Yingguo loses, can Meilika remain unscathed?"

Wilson said nothing.

Asquith rose and walked to the window. Outside, sunlight fell on the lawn and on the busy gardeners.

"If the Deguo win Europe, what will they do? They will consolidate the continent's industrial capacity and build the world's most powerful fleet. Then they will cross the Atlantic to trouble Meilika."

He turned and looked at Wilson.

"Mr. President, do you think Meilika could hold them back then?"

Wilson was silent for a long while.

Then he spoke, his voice soft: "Prime Minister, you didn't come today just to scare me, did you?"

Asquith returned to his seat, pulled the draft agreement from his pocket, and placed it before Wilson.

"Mr. President, this is Yingguo's sincerity."

Wilson took the document, glanced at the title, and his pupils constricted slightly.

"Proposal on the Post‑War Reorganization of the International Financial System and the Arrangement of Meilika's Position."

He lifted his head and looked at Asquith.

Asquith nodded.

Wilson lowered his head and continued reading.

Page one, page two, page three—he read slowly, scrutinizing every line. When he reached page three, his hand trembled slightly.

"After the war, Yingguo will fully support the dollar becoming the primary international settlement currency, co‑leading the international financial system with the pound. Yingguo will promote the creation of a new international financial institution and support Meilika's leadership within it."

He lifted his head, looked at Asquith, and there was something indefinable in his eyes.

"Prime Minister, are you serious?"

Asquith nodded.

"This is the official proposal of the Yingguo government. If Meilika is willing to commit fully to the European front, after the war the dollar can stand on equal footing with the pound."

Wilson set the document down, leaned back in his chair, and closed his eyes.

He understood exactly what that meant.

Meilika's economic output is already the world's largest. Its industrial capacity exceeds the combined total of Yingguo, Faguo, and Deguo. Its gold reserves account for one‑third of the globe's supply.

But the dollar is not an international currency.

International trade must still be settled in pounds, international lending bows to the mood of the London financial district, and international investment must go through Yingguo's banks. Meilika has money, power, resources, but Yingguo holds financial hegemony. As long as the pound remains an international currency, Yingguo can wage war, rebuild, and stay the world's leader with other peoples' money.

But if the dollar also became an international currency—

Meilika's banks could directly partake in international settlements. Its corporations could invest abroad using their own currency. Its government could use dollars to aid allies, purchase resources, and exert influence.

Then Meilika would truly be the world's number one.

Not the first economically, but the first financially, the first in power, the first in influence.

He opened his eyes and looked at Asquith.

"Prime Minister, over in Congress…"

Asquies interrupted him: "President, over at Congress you have a way. All you need is a reason."

Wilson was silent for a few seconds.

"Is that reason enough?"

Asquies stood up, walked to the map, and pointed at Europe.

"President, look at this map. The Deguo troops have already reached into Faguo territory, the Italians are collapsing, and the Russians have already withdrawn from the war. If Meilika does not act now, Europe will be completely finished."

He turned and looked at Wilson.

"Europe is finished; what can Meilika do? Guard the Atlantic, watching the Deguo rule the whole old continent? Then wait for them to build enough warships, cross the Atlantic, and come after you to settle the score?"

Wilson said nothing.

Asquies walked back to his seat and sat down.

"President, Meilika needs Europe. Europe is Meilika's biggest trading partner, its largest investment market, and its greatest cultural source. If Europe falls into Deguo hands, Meilika will lose everything."

He paused, and his voice lowered.

"This agreement is the best return Yingguo can give Meilika. We trade the pound's hegemony for Meilika's guns. Do you think this deal is a loss?"