Chapter 522: 433: World Industrial Exposition - Life of Being a Crown Prince in France

Chapter 522: Chapter 433: World Industrial Exposition

And strong financial support could, in turn, promote the construction of industry and new lands.

With France’s industrial technology and policies, as well as its financial level all leading the way in Europe, Joseph estimated that after another 3 to 5 years of rapid development, France’s overall industrial strength would be looking down on all of Europe.

That’s right, including you, England, by then you all might be left behind by France!

Of course, England, relying on its vast colonies and accumulation over many years, still sat firmly in the position of world’s supreme power, but it would only be a matter of time before France would topple it from its horse.

Meanwhile, as the dividends of industrial development continuously increased, France’s chronic financial problems would surely be completely resolved.

By that time, Joseph would be able to lead France to recreate the glorious achievements once obtained by Napoleon. And with the wisdom of later generations, he would surely surpass Napoleon!

...

Afterwards, Joseph also announced the official resumption of trading at the French Stock Exchange — anyone could now invest in stocks, and the exchange would be open every day except weekends, and companies could start applying for listings.

After the Mississippi incident, stock trading in France was finally fully revived!

Of course, to allow investors time to familiarize and adapt, for the time being, only a handful of company stocks were tradable, and the transaction amount was under strict control.

The new “Stock Trading Law” was in the final stages of organization, and the “Securities and Exchange Commission” was also in preparation.

Once these two pillars of securing the stock market were completed, the Stock Exchange would gradually loosen the approval of listed companies and expand the scale of financing.

Keep in mind, Joseph started by regulating the stock market with various modern concepts from the future; the likes of shell companies defrauding investors or big capital dramatically inflating the price of a stock one day and then dumping it the next, were absolutely not going to happen in the French Stock Exchange.

The stock market is the “turbocharger” for industrial development; as long as it’s regulated, it benefits the construction of the industry greatly.

To win in the competition of the Industrial Revolution, the stock market is a must.

In conclusion, Joseph solemnly announced that Bastille would officially be renamed to “Paris Financial Center,” and then he pointed to the large cannons on the high walls of Bastille and smiled, “This will be the safest bank and exchange in the world; I believe no bandit would dare target this place.”

Walsh, listening to the deafening laughter and cheers around him, couldn’t help but squint his eyes.

As a shrewd businessman, he keenly sensed that France’s monetary policy was now superior to England’s.

The simplest point being, exchange of British Pounds for gold could only happen at the Bank of England, which meant that if the Bank of England collapsed, then banknotes in Pounds would immediately lose all value.

Whereas the franc was backed by the French state; even if the Bank of France Reserve were gone, the French Government would find other ways to maintain currency value.

This was the difference between a complete gold standard and the gold standard being explored by England. It wasn’t until 30 years later that England officially implemented the gold standard at the national level.

Ever since Walsh had come to France the year before last, he had been hesitating whether to shift the focus of his business here.

Admittedly, the market in England was huge, the country was wealthier, and the business environment was better.

But the upward momentum of France was fierce, with tremendous policy support for the industry. Recently, it had opened up the markets of the Southern Netherlands and North Africa, coupled with the “Seine-Rhine Trade Agreement” allowing entry into the German market, France would undoubtedly have plenty of opportunities in the future.

Now, he had finally made his decision — to choose France.

He turned his head towards his wife and smiled, “Perhaps, we should buy a French noble title.”

“It’s up to you,” Mrs. Walsh said with her icy hands clasped together, pouting, “but if we don’t go to the Royal Palace soon, we won’t be able to get preview tickets.”

“Anyway, the World’s Fair officially opens in a few days, and it won’t be too late to go then,” Walsh said, pulling up his collar, “It’s really cold, why don’t we go have lunch first? I heard Laperouse Restaurant has added some new dishes…”

“It will be very crowded after the World’s Fair opens,” Mrs. Walsh complained, “You know, there are over a dozen countries’ pavilions to visit, and I really don’t want to squeeze in with those dirty and unsophisticated people.”

Walsh truly couldn’t argue with a woman. After the crowd on the Paris Financial Center Square, previously called Bastille, dispersed, he drove to the Royal Palace.

The former residence of the Duke of Orleans had been confiscated and was sitting empty, but now at its main entrance, there stood a three-person-tall iron tower, engraved with the words “First World Industry’s Fair.”

Yes, Joseph had been planning the World’s Fair for a long time and had finally extended invitations to more than twenty countries to attend the event at the Royal Palace, after stabilizing the situation in North Africa.

Of course, another reason was that he had received a large sum of war reparations from Algiers, eliminating the financial barriers to holding the World’s Fair.

With the previous success of Paris Fashion Week, the countries showed some interest in participating. However, since this kind of exposition had never been held before, some countries that were unwilling to spend money politely declined, leaving only twelve countries that decided to attend.

After all, unlike Fashion Week, they had to send delegations and bring their presentable items, all of which cost money.

In this way, Joseph snatched the honor of inaugurating the World’s Fair from the British more than half a century ahead of schedule.

Moreover, compared to the British who spent a fortune building the Crystal Palace as the venue for their World’s Fair, Joseph’s investment was minimal.

(The British Crystal Palace)

The Royal Palace only needed a bit of tidying up to become a grand and luxurious venue.

France had many idle palaces, such as the Louvre, the Chateau de Fontainebleau, and even the Luxembourg Palace was queued up for future use, making them perfect for events like the fair.

And on the day of the World’s Fair, Joseph had a huge surprise for the audience from all over Europe—the gas streetlights in 40% of Paris would be lit simultaneously, illuminating the Parisian night sky.

…

India.

Northern Karnataka, on the northwestern frontline of the battlefield between England and Mysore.

Marquess of Wellesley frowned as he looked through the telescope at the “Pa,” murmuring, “These rudimentary fortresses are indeed nauseating.”

Cornwallis seemed already accustomed to it, shrugging, “You’re only facing these things for the first time, while I have already ‘gnawed’ through more than twenty. Oh, and according to the information I’ve gathered, there are at least fifty more to go.”

“I will figure out a way to deal with these things,” the Marquess of Wellesley said as he put away his telescope, a cold light flashing in his eyes, “and then I’ll spread a wide net to capture Tipu, making that beast unable to escape.”