Chapter 434: World Industrial Expo
Strong financial backing, in turn, fueled industrial development and the construction of new territories.
With France's industrial technology, policies, and financial prowess leading all other European nations, Joseph estimated that after another three to five years of rapid development, France's overall industrial strength would overshadow all of Europe.
Indeed, even Britain might well be left behind by France at that point!
Of course, Britain, relying on its vast colonies and years of accumulated wealth, would still hold its position as the world's hegemon in overall national power, but it would only be a matter of time before France brought it down.
At the same time, as the dividends of industrial development continued to grow, France's chronic financial problems would inevitably be completely resolved.
By then, Joseph would be able to lead France to replicate the glorious achievements Emperor Napoleon had made in history. And with his wisdom from a future era, he would undoubtedly surpass Emperor Napoleon!
Subsequently, Joseph announced the official resumption of trading at the French Stock Exchange. Everyone could now invest in stocks, the exchange would be open every day except weekends, and companies could begin applying for public listing.
After the Mississippi Company Bubble, French stock trading had finally made a full comeback!
Naturally, to allow investors time to become familiar and adapt, only a handful of company stocks would be available for trading temporarily, and transaction volumes would be strictly controlled.
Once these two critical instruments for stabilizing the securities market were complete, the French Stock Exchange would gradually loosen its approval process for listed companies and expand the scale of financing.
It was important to know that Joseph had immediately regulated the stock market with various new concepts from later eras. Situations like shell companies defrauding investors in the American stock market, or large capital entities inflating a stock dozens of times in a day only to dump it and flee the next, would absolutely not happen at the French Stock Exchange.
The stock market was the "turbocharger" of industrial development. As long as it developed in a regulated manner, it would bring immense benefits to industrial construction.
To win in the competition of the Industrial Revolution, the stock market was essential.
Finally, Joseph solemnly announced that the Bastille was officially renamed the "Paris Financial Center." He then pointed to the cannon mouths on the Bastille's towering walls and chuckled, "This will be the safest bank and exchange in the world. I believe no robber would dare to target this place."
Walsh listened to the deafening laughter and cheers around him and couldn't help but narrow his eyes.
As a shrewd businessman, he keenly perceived that France's monetary policy was already superior to Britain's.
The simplest point was that the exchange of Pound Sterling for gold could only be conducted at the Bank of England. In other words, if the Bank of England were to collapse, then paper Pound Sterling would immediately lose all its value.
The Franc, however, was guaranteed by the French state. Even if the French Reserve Bank were gone, the French government would find other ways to maintain the currency's value.
This was the difference between a complete Gold Standard and Britain's tentative one. Britain only officially implemented the Gold Standard at a national level three decades later.
Ever since Walsh arrived in France the year before last, he had been hesitating whether to shift his business focus here.
Admittedly, Britain had a vast market and was a wealthier nation, with a better business environment.
But France's upward trajectory was strong, and its policy support for industries was immense. It had recently opened up markets in the Southern Netherlands and North Africa, and with the "Seine-Rhine Trade Agreement" allowing access to the German market, France would certainly have plenty of opportunities in the future.
Now, he had finally made his decision — to choose France.
He turned to his wife and smiled, "Perhaps we should buy a French noble title."
"Whatever you wish," Mrs. Walsh huffed, warming her chilled hands, and playfully complained, "But if we don't go to the Palais-Royal now, we won't get preview tickets."
"The expo formally opens in a few days anyway; it won't be too late to see it then," Walsh tugged at his collar. "It's quite cold. How about we have lunch first? I heard La Pérouse Restaurant has some new dishes..."
"It will be absolutely swarming after the expo opens," Mrs. Walsh said with displeasure. "You know, there are exhibition halls from over a dozen countries to visit. I certainly don't want to squeeze in with all those dirty, common folk."
Walsh truly couldn't argue with his wife. After the crowds dispersed from the Bastille — oh, rather, the Paris Financial Center Square — they drove to the Palais-Royal.
This former residence of the Duke of Orleans had been vacant since its confiscation. Now, in front of its main entrance, stood an iron square tower, three people tall, with the words "First World Industrial Expo" engraved on it.
Yes, Joseph had been planning the World Expo for a long time. Finally, after the situation in North Africa had stabilized, he officially sent invitations to over 20 countries to attend this grand event at the Palais-Royal.
Of course, another reason was the substantial war reparations received from Algiers, which removed the financial constraints on hosting the expo.
Thanks to the previous success of Paris Fashion Week, various countries were somewhat interested in participating. However, such an expo had never been held before, and some countries unwilling to spend money still politely declined. Ultimately, 12 countries decided to participate.
After all, this was different from a Fashion Week. Delegations had to be sent, bringing along impressive exhibits, and that all cost money.
Thus, the prestige of pioneering the World Expo was seized by Joseph over half a century early, snatched from the hands of the British.
Moreover, compared to the British who historically spent enormous sums to build the Crystal Palace as an expo venue, Joseph's investment was negligible.
The Palais-Royal only needed a quick tidying up to become an imposing, luxurious, and respectable venue.
France had many unused palaces. For example, the Louvre Palace and the Palace of Fontainebleau could both be used. The Luxembourg Palace was next in line, and hosting such grand events was a perfect way to leverage their value.
On the opening day of the World Expo, Joseph had another huge surprise in store for audiences across Europe — on that day, 40% of Paris's streets would simultaneously be illuminated by Gas Streetlights, lighting up the Parisian night sky.
...
India.
North Kanara, the northwestern front of the war between Britain and Mysore.
Marquis Wellesley looked at the "Pā" through his Telescope, his brow furrowed. "These crude fortresses are truly disgusting."
Cornwallis, however, seemed accustomed to them. He shrugged, "You're just facing these for the first time. I've already 'gnawed' through more than twenty of them. Oh, and from what I've heard, there are at least fifty more behind these."
"I will find a way to deal with these things," Marquis Wellesley lowered his Telescope, a cold glint in his eyes. "Then, I will cast a massive net to capture Tipu, ensuring that beast cannot escape."
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