Persian Empire 1845

Chapter 186 Americas and Asia

Since gaining independence in 1783, the United States has been expanding and cultivating the New World. The free atmosphere there attracted considerable capital and adventurers.

New York Harbor in New York State was a paradise for adventurers. The opening of the Erie Canal in 1825 connected New York Harbor to the inland markets of North America via the Hudson River and the Great Lakes. The area quickly prospered, boasting numerous banks and financial institutions.

Manhattan, near the harbor, is a major banking hub, with Wall Street being of paramount importance. Banks are established here every day, but Persebank, located here, was a newcomer, starting from scratch.

Iran and the United States established diplomatic relations last December, giving Nasser al-Din a channel to invest in the Americas. To quickly establish a foothold there, he needs to invest in banks and then open branches in various locations.

The Shah, wanting more money to accomplish more, established the Persian Bank. Its initial capital was £20, or $100 million. The Shah held 75% of the shares, while the remaining 25% were held by prominent Iranian nobles and Shia tribes from the peninsula, who exchanged their land and trade for shares in hopes of maximizing profits.

Sharif learned from his predecessors that, besides handling deposits and remittances, the most important thing for a bank is to buy and sell bonds to profit from the price difference.

With the proliferation of banks and other financial institutions, countless railroad bonds and stocks appeared on Wall Street, and the entire financial market presented a thriving scene.

Making money is possible in any field—that's the consensus on Wall Street. Banks are currently making money by buying and selling railroad bonds, and of course, they also hoard some high-value bonds, such as U.S. Treasury bonds and state bonds.

“We have stockpiled $10 in various railroad bonds, as well as bonds from New York and Pennsylvania.”

Recently, stocks in the textile and mining industries have fallen sharply; buying them would only result in losses.

This situation worried Sharif somewhat, given that the United States was currently prosperous but its manufacturing and agricultural sectors were not catching up, which he felt was somewhat dangerous and that something might go wrong.

How are the deposit and lending businesses?

“We have taken in $10000 in deposits and also lent about $5 to some local workshops.”

After some consideration, Sharif decided to focus the bank's primary operations on securities trading, with major railroad companies, such as the New York Central Railroad and the Pennsylvania Railroad, being key targets.

"Such a prosperous and free world, it's a pity that it quickly degenerated."

From the Mayflower to the present, those so-called most devout children of God have abandoned their faith. Alcoholism, pornography, and violence permeate the world, and they call this freedom—what a pity.

——————————— Banks in the Americas were just starting out, while Banque de l'Indochine's assets in the East had already multiplied several times over. Everything here seemed to be going well; the locals were very cooperative when they arrived, and at this time, Britain, France, and Iran were extremely welcoming to people from the East, except for the Japanese.

Abdullah didn't know how to describe the Japanese; even Jews were considered trustworthy compared to them. In Nagasaki, it was common for Japanese merchants to sell inferior goods, and the local branch had to bring in Chinese employees from Shanghai to ensure normal operations.

Japanese goods often consist of a few bundles of high-quality products wrapped in silk, while the inside is mixed with very rough cloth, cleverly blending them with the good stuff. The same applies to camphor trading: a jar of camphor might only have the top layer of genuine camphor, with the rest being flour; a barrel of oil might have half water at the bottom.

Previously hired Japanese workers would collectively run away after signing contracts, upon hearing that other employers were offering higher prices, without any regard for whether or not a contract had been signed; Japanese domestic workers would also frequently leave without notice, abandoning their employers.

This fueled Iranians' hatred for the Japanese, and their leaders did nothing about it; some who tried to reason with the Japanese were nearly killed.

This could cost Iranian businessmen their lives. Such a serious accident is not something an ordinary country can handle; a strong crackdown is necessary.

Most of the troops transported from Iran arrived in Saigon, but they were too late. The Iranian army had already occupied Bangkok, and the king had fled north to Chiang Mai.

The army didn't engage in widespread looting, but they did plunder valuable items. They stormed into the Bangkok Grand Palace and temples, moving the treasures there to a safer location.

The Khmer people also gained a significant morale boost; they had chosen the right leader and were indeed on the verge of restoring the glory of their former empire. Meanwhile, vassal states like Luang Prabang completely controlled both banks of the Mekong River, and Siam was in imminent danger.

But the situation in Siam frightened another country, Vietnam. They had fought with Iran before, and thought that Iran would have a ten-year reprieve, giving Vietnam time to regroup and reclaim lost territory. But in less than five years, they attacked Siam and inflicted a crushing defeat on them.

Some ministers suggested that Emperor Tu Duc take advantage of the Iranian army's presence in the west to launch an attack on Saigon, using the Mekong River as a defensive line. However, this was opposed by Nguyen Tri Phuong.

In his memorial, he stated that Iran had been building up Saigon in recent years, turning it into a fortress that their current army could not take in several months.

Moreover, at this time, there was also unrest in the north. Many Chinese from Yunnan and Guangxi entered Vietnam, occupying the mountainous areas and becoming bandits. Coupled with years of natural disasters, peasant uprisings broke out one after another in the north, and Emperor Tu Duc's rule was in grave danger.

The report from his advisors did indeed make Emperor Tu Duc hesitate, but he knew that if Siam fell, Vietnam would be next. So he sent Nguyen Tri Phuong to Saigon as a peacemaker to persuade Iran to let Siam go.

Iran issued an ultimatum to Rama IV, demanding that Siam pay Iran 100 million rials in compensation and send envoys to Bangkok to sign a peace treaty; otherwise, they would march north and occupy Chiang Mai. Rama IV dared not utter a single word of Iran's demands.

(End of this chapter)