In the era of the gold standard, it was impossible to not have enough reserves. Although the UK, Fao, and France were allies, once there was a problem with the French currency reform, the first to take advantage of it would be the UK and Austria.
This didn't mean that other countries were on good terms with France. The main thing was that they didn't have enough power to provoke France. In this world where everything was within the firing range of cannons, there were still many advantages to having a bigger fist.
Napoleon Iv asked doubtfully, "The high price of gold will also affect the UK and Austria, right?"
Both the pound sterling and the Aegis were the gold standard. When the price of gold rose, the pound sterling and the Aegis would also rise. The increase in the value of the currency would also affect the export trade between the UK and Austria.
Alan, the Minister of Finance, replied helplessly, "Your Majesty, the main international settlement currencies are the pound sterling and the Aegis. The impact of the currency increase on them has been minimized.
On the contrary, we are suffering more losses. Affected by the change in the value of the currency, more and more capitalists choose to hold the pound sterling and the Aegis. The market share of the franc continues to decline. "
This was the power of the currency hegemony. Although the Aegis and the pound sterling were competitors, the interests of the two countries were the same when it came to maintaining the gold standard system.
In addition to the market share, the UK and Austria also occupied the majority of the international import and export trade market, so they had to hold the pound sterling and the Aegis.
This was similar to the currency hegemony of the United States in the future. They knew that holding a large amount of US dollars would cause them to cut the wool, but they had no choice but to hold it if they wanted to do international trade.
Unlike other countries, which could make concessions on the currency issue and seek the support of the UK and Austria to complete the gold standard reform, France could only resist to the end.
This wasn't just a matter of face, but also involved international status and a lot of interests. Once the Government of Paris gave in, the world would no longer be ruled by the three countries, but by the UK and Austria.
There was no doubt that the Government of Paris couldn't compromise on this issue. Otherwise, the French people outside would punish the traitors.
After pacing back and forth for a few steps, Napoleon Iv said fiercely, "Since we can't buy enough gold from the international market, we'll find a way from the countries with the gold and silver standard.
Don't they want to raise the price of gold by selling silver for gold? Then we'll follow suit. The exchange rate of gold for gold is 1: 23.5. Then we'll raise it to 1: 30, or even 1: 40.
If gold prices skyrocket against silver, the value of the British Pound Sterling and SHIELD will also skyrocket, surpassing the limits of the market. I'm not afraid that they won't dump gold to stabilize the value of their currencies. "
This was a lose-lose strategy. The sudden surge in the value of the currency would definitely affect the export trade. Great Britain and Austria weren't having a good time, and so was France.
Other than a few financial capitalists who could profit, it could be said that there would be no winners. All participating countries in international trade were victims of the instability of their currencies.
I can't help but admit that Napoleon Iv is really ruthless. If he doesn't let me join the game, I'll flip the table and no one will be able to have fun.
Alan, the Chancellor of the Exchequer, hurriedly dissuaded, "Your Majesty, you must not. We had not yet completed the reform of the currency, and the franc was the first to suffer from the sharp increase in the exchange rate of gold and silver.
If they do not compromise and allow the market to crash, the credit system of the franc will collapse first, and the countries that have not completed the gold standard reform will suffer greatly.
For Britain and Austria, using short-term economic losses in exchange for the establishment of the gold standard system is acceptable. "
It was not the era of free trade yet. As the world's two largest colonial empires, the biggest trading partners of Britain and Austria were their own colonies.
No matter how much impact the increase in the value of the currency would bring, as long as the internal circulation system was not chaotic, Britain and Austria could still withstand it.
Moreover, there were also many countries that had completed the gold standard reform. Everyone's currency value changed synchronously, and after offsetting each other, it would not affect trade.
On the contrary, the countries with the gold and silver double standard system were even worse off. The sharp change in the exchange rate directly made many import and export enterprises unprofitable, and they might even lose money.
Foreign Minister Montero echoed, "Allen is right. If we follow the speculation of gold prices, we will fall into the enemy's trap.
If we don't have enough gold reserves, we can still find ways from other countries. There are also many countries that have not completed the gold standard reform, and we can exchange enough gold from them. "
Napoleon Iv nodded thoughtfully in agreement. As long as he could solve the problem, he didn't mind using any method.
During the gold standard reform of the original European countries, due to the lack of sufficient reserves, they finally relied on external plunder to solve the problem.
Now history had returned to its original track, and the France Empire, which had been silent for many years, was about to reveal their fangs to the outside world again.
…
The French didn't have a big shortage of gold, and they could solve the problem through external plunder, but the other European countries couldn't.
Not every country had the strength to solve the problem through colonial plunder. More countries had to choose to compromise with Britain and Austria in exchange for the support of the two countries in the currency reform.
Looking at the good situation in front of him, Franz felt a little unreal in the Palace of Vienna. The British were willing to share the currency hegemony with Austria. Wasn't this a joke?
John Bull, who didn't move, gave Franz a headache. He believed that the British must be planning something, but they just hadn't been discovered.
Persecutory paranoia? Perhaps! It was always right to be vigilant, and it was better to work for nothing than to be unprepared and suffer later.
…
Winter passed and spring came, and the earth exuded vitality. At this time of year, Franz would take his family out for an outing.
This year was no exception, but the destination was a little special. Jerusalem, an ancient and legendary city, was the final stop of this activity.
Because the destination was too special, there were more participants than usual. For example, the elderly Grand Duke Carr, Empress Dowager Sophie, and his abdicated uncle Ferdinand I and his wife.
This put a lot of pressure on Franz. These old guys weren't young anymore, and if there were any accidents on the road, he would have to go back to the mansion to hold a funeral.
It was impossible to persuade them, as they were the true devout believers. As Uncle Ferdinand I said, "My greatest wish is to put the flag of Habsburg in Jerusalem."
Well, many generations of emperors of the House of Habsburg had said the same thing, but they were unlucky and encountered the Osman Empire at its peak, and they didn't succeed.
Now that the opportunity was here, they couldn't wait any longer. Even his honest father, who had always been indifferent, said that if he died in Jerusalem, it would be with God.
If it wasn't for Franz stopping them, they would have run over as soon as the armistice treaty was signed. Facing a group of religious fanatics, Franz was also helpless.
Ever since Austria recovered Jerusalem, there were a lot of pilgrims from all over Europe. Tents were even set up outside the city, not to mention inside the city.
In order to solve the problem of accommodation for the pilgrims, the Jerusalem city management committee was forced to change the original demolition and reconstruction plan, and the buildings in the city were repaired and remodeled.
Most of the buildings were converted into hotels and restaurants, completed in the shortest time possible, and then opened for business.
Before Franz could react, Jerusalem became the most famous tourist city in Austria, and all the publicity, planning, and advertising were unnecessary.
The main purpose of the coronation in Jerusalem was to show off and show off, so the extravagance was naturally not small.
In order to prepare for the ceremony, the Government of Vienna also put in a lot of money. A lot of manpower and material resources were invested at all costs, and Franz estimated that the final cost could be as high as tens of millions of Divine Shields.
Don't think it was expensive, the investment was worth it. Apart from anything else, after recovering Jerusalem, Austria's rule was more stable. In the face of this good news, there was no market for all kinds of ideas and ideologies.
This was only within the country, and Austria's reputation also skyrocketed internationally. The growth of soft power could not be measured by money.
On April 3, 1875, Franz set off from Vienna with his family and started the pilgrimage.
As soon as they got on the train, accidents happened. First, Uncle Ferdinand I fell ill. Well, this was only a small problem, but he fell ill every day, and everyone was used to it.
Then, his mother, Empress Dowager Sophie, fainted. After a moment of confusion, the doctor gave the answer: the train was too fast, and she was carsick.
There was nothing more to say, so they slowed down! The special train that Franz took was the fastest train of this era, and in theory, it could run at a maximum speed of 80 kilometers per hour.
Of course, this was only in theory. The railway was not flat, and when it encountered mountain roads and curves, it definitely could not run that fast. The average speed was about 40 to 50 kilometers per hour, which was considered fast in this era.
After slowing down, the situation was much better. The train, which was supposed to arrive in the morning, was delayed until the next day, and even the transportation was affected.
This was only a small problem, and it was nothing more than the railway from Venice to Vienna being blocked for one more day, and the loss was not big. When they reached Venice, the test really began. Other than Franz, the emperor who was seasick, there was also a family of old, weak, women, and children.
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