The War Court and Lap Pillow, Austria's Mandate of Heaven

Chapter 1683 Borrowing Money
Grand Vizier shook his head. It wasn't that he had no solution, but rather that he simply couldn't implement it. The reason the Ottoman Empire's finances had deteriorated to this point was largely due to systemic corruption from top to bottom.

Catching a few corrupt officials would immediately solve the immediate crisis, but unfortunately, the country lacks the ability to correct its mistakes, at least for now.

However, neither Olma nor Murad V could have imagined that Sadiq Pasha did it on purpose.

As a pro-British figure, Sadiq Pasha never forgot the interests of the British Empire. With this new loan agreement, the Ottoman Empire would find it difficult to escape the control of the British Empire, regardless of the outcome of the war.

Despite the Ottoman Empire's seemingly crumbling state, the major powers were not afraid of its bankruptcy, as they had plenty of ways to collect their debts.

The belief that money lent out is a sure thing is that British and French bankers will never lose money, so much so that they would even consider lending to enemies like Austria during economic downturns.

Although Russia has a good reputation, it's not unreasonable to lend money to Russians if the profits are sufficient.

Inside the City of London, Nicholas I's envoy is chatting and laughing with a number of prominent Jewish financiers.

"I'm sure you all know why I'm here. His Majesty the Tsar is launching a great war, and I hope you will all give him your full support."

These bigwigs in the City of London knew what the Russians were up to, but what did it matter to them?

“Your Excellency, what does this have to do with us? I’ve heard that we Jews are an unpopular group in Russia.”

Count Greta smiled and said.

"You should know that we are a monarchy, and who is popular or unpopular is entirely up to His Majesty the Tsar."

If you are willing to do your best to help our country, then it's not impossible for you to become friends.

Lionel de Rothschild and Thomas Baring, as the heads of the two major banking families at this time, had already realized the difference between the Russian man before them.

Russians are usually either arrogant or servile to the core; such a person who is neither humble nor arrogant is quite rare.

With the permission of the two bigwigs, one of the bankers spoke up.

“Count Greta, we understand what you are saying, but your country’s reputation is really not that good.”

"Gentlemen, I understand your concerns."

However, for this big deal that the Russian Empire wants to do, worth 200 million rubles, we are willing to offer a 5% commission, with customs revenue from the Black Sea region and gold mine profits from the Caucasus Mountains as collateral.

You should know that the collateral we, Russia, have offered is absolutely worth more than what we're entitled to.

However, a cold laugh came from the surrounding crowd. These Jewish financiers were naturally laughing at Count Greta's statement.

"What are you laughing at?"

“Count Greta, we are not children. Russia’s strength is evident to all. If your country defaults, would we dare to go to Russia to collect the debt? Would any debt collection agency dare to take on this job?”

Count Greta was prepared for this; he knew things wouldn't go smoothly, and even within Russia, few believed he would succeed.

"What if we were willing to offer a 10% commission?"

Count Greta said with great confidence, leaving the surrounding Jewish bankers dumbfounded. 10%, that's twenty million rubles.

Such a large order is hard to come by in this economic downturn. Although they are in Britain, they still feel that Russia has a great chance of winning, after all, they have their own channels.

Britain is still divided on whether to fight or make peace, while Russia is determined to win. In terms of morale alone, the two sides are not comparable.

Lured by the enormous sums of money, the banking alliance spearheaded by the Baring and Rothschild families immediately fractured. Some families began to stir, as evidenced by the murmurs and whispers that filled the room.

Lionel de Rothschild and Thomas Baring were also somewhat tempted, but the two families were large and powerful enough to resist the temptation.

But others might not be so, said Carl Joachim Hambro, the de facto head of Hambro Bank.

“Earl Greta, your deal looks quite troublesome, after all, it’s not easy to keep it from the London government.”

Count Greta smiled.

"These bonds can be issued by your subsidiaries; they don't have to be issued in rubles, Danish thalers, or Swedish krona."

The bonds do not have to be called war bonds; they can be called East Thrace Priority Development Bonds or Near East Development Limited.

These bonds can then be split into numerous smaller portions and sold to investors who only care about returns through different markets.

"You are all renowned bankers; with your intelligence, I believe I need not waste any more words."

The bankers present exchanged bewildered glances. To be honest, they hadn't expected so much. They felt enlightened and couldn't help but look at the young man in front of them with even greater respect.

Carl Joachim Hambro said with some difficulty.

"Your Excellency, while your method is ingenious, it is far too complicated to implement."

Carl Joachim Hambro's meaning was clear: he wanted more money. However, Count Greta did not give him that opportunity.

“I’m sorry, Mr. Hambro. I’m not here to haggle. I’ll be staying at the Clarridge Hotel for three days, during which time I will finalize this deal.”

Ladies and gentlemen, first come, first served.

After saying this, Count Greta stood up and left.

This made the bankers in the City of London lose face.

"What rude Russians! We absolutely cannot compromise with them!"

Thomas Baring cursed.

"That's right, don't trust the Russians, they have absolutely no credibility!"

Lionel de Rothschild echoed this sentiment.

However, some bankers still left due to reasons such as needing to urinate or going to the dentist.
Topkapi Palace.

In fact, Murad V had many other ingenious ideas. Although the Tanzimat reforms brought some Western instructors to the Ottoman Empire, the modernization of the army was still slow and its combat effectiveness was difficult to improve rapidly.

Murad V then prepared to emulate France by establishing a Foreign Legion. Although this was Louis Philippe's doing, Murad V also attributed it to Napoleon.

“Great Sultan, we don’t have enough money to pay the salaries of our foreign mercenaries. Their appetites are too great!”

Sadiq Pasha said somewhat hesitantly, knowing that Murad V disliked being contradicted, but the idea of ​​a foreign legion seemed too unorthodox to him.

Moreover, Sadiq Pasha did not think highly of Murad V. In his eyes, Murad V was nothing more than a problem child who abused his power, so the British Empire was the one he should be more loyal to.