Chapter 643: The Competition in High Technology
The widespread adoption of civilian paddlewheel steamers brought another significant advantage: it greatly increased the production volume of steam engines for ships.
The number of civilian ships far exceeded that of warships by dozens of times, which would accelerate the improvement of steam engine technology much more effectively than simply installing them on warships.
The concept of "using civilian industries to support the military" had always been the best way to promote new technologies.
Moreover, paddlewheel steamer technology and the screw-propeller technology used by the French Navy followed completely different development paths. This minimized the risk of other countries copying civilian ship technology for military purposes—a perfect scenario.
While Joseph was busy planning his new shipyard, in the suburbs of Birmingham, England, Watt was deep in conversation with his business partner and shareholder, Boulton, about financing strategies.
"You must try to let go of certain obsessions," said Boulton, his light blond hair framing his pensive face. He chose his words carefully, worried about offending his brilliant yet stubborn partner. "The investors are fixated on high-pressure steam engines. Sometimes, we have to cater to them."
Watt waved his hand rhythmically, dismissing the idea. "Everyone knows those things are good for nothing except blowing up!"
He added, "Our new 27-horsepower steam engine will go into production next month. That's a truly great product."
Boulton sighed. "My friend, you're well aware that the French had 50-horsepower high-pressure steam engines two years ago. I've heard their latest models now exceed that power.
"As for the explosions, factories don't care. At most, they lose a few workers—new ones can always replace them. What they care about is the profit that comes from greater power."
Watt muttered stubbornly, his head lowered, "Just 50 horsepower? I can achieve that without using high-pressure technology…"
The two men arrived at a luxurious pale-yellow villa.
Boulton quietly urged, "Please, I beg you, at least mention high-pressure steam engines in front of Sir Faulkner later. Otherwise, the company's financial crisis will become even worse."
Indeed, the Boulton-Watt Steam Engine Company had been struggling over the past two years under fierce competition from their French counterparts. Sales were declining, and profits had reached their lowest point in over a decade.
To make matters worse, the company had suffered massive losses the previous year as a subcontractor for London's gas streetlight project, where they provided distillation boilers and pressure gauges.
This had caused a severe cash flow problem, forcing Watt and Boulton to seek new shareholders to keep the company afloat.
Sir Faulkner greeted them warmly and ushered them into his parlor, where the topic of investment quickly came up.
"Let's be direct," said Faulkner. "I'm willing to invest £5,000 for a 30% stake in the company."
Boulton frowned. "Sir Faulkner, the company's assets are valued at over £20,000, and its annual revenue exceeds £4,000. To acquire 30% of the shares, you'd need to invest at least £7,500."
Faulkner shook his head with a smile. "I'm more interested in the company's prospects.
"Last year, Upper Hesse purchased £5,000 worth of steam engines for their automated looms, but they chose French products—new high-pressure steam engines.
"Frankly, your company's technology is falling behind. If I invest, I'll likely need to put in more money for technological upgrades. That's a considerable risk."
Boulton quickly interjected, "We've already started research on high-pressure steam engines."
He nudged Watt. "Right, James?"
"Oh, yes, that damned high-pressure steam engine," Watt said reluctantly, nodding. "As long as it doesn't explode, it'll be fine…"
Boulton forced an awkward smile and quickly changed the subject.
More than two hours later, Boulton and Watt left the villa, visibly dejected. Faulkner hadn't budged, and his offer was unacceptable to them.
Back at his doorstep, Boulton suddenly clenched his teeth and turned back to Faulkner's residence.
"I understand the significance of high-pressure steam engines," he said earnestly. "And the company will accelerate its research in this area."
Faulkner shrugged. "But your chief engineer seems fixated on low-pressure steam engines."
Taking a deep breath, Boulton replied, "Actually, I have a way to quickly acquire the technology."
"Oh? Do tell," Faulkner said, intrigued.
"John Sander from the French United Steam Engine Company," Boulton explained. "I know his uncle. If we can bring him on board, we'll gain immediate access to high-pressure steam engine technology.
"With our extensive British market, we'll soon outcompete the French!"
Faulkner raised an eyebrow and nodded. "Very well. If you secure high-pressure steam engine capabilities, I'll invest £7,500."
In Freising, Bavaria, Count Rheinfels was returning from the consultation meeting of the Rhine-Seine Treaty signatories when he received a letter from Vienna. His expression turned complex.
It was an obituary from the Emperor—Leopold II had passed away three days earlier due to smallpox.
By all accounts, the count should have been grieving, but instead, he felt an inexplicable sense of relief.
His failure to secure Britain's inclusion in the Rhine-Seine Treaty had exacerbated Austria's precarious trade situation. Leopold II's sudden death would likely shift Vienna's attention away from the matter.
The new emperor, busy with his coronation, would probably not address the issue either.
A few days later, Count Rheinfels' carriage arrived at Schönbrunn Palace. Stepping out, he immediately sought an audience with the new Emperor Francis II.
The mourning atmosphere within the palace had already faded, replaced by servants bustling to prepare for the coronation.
In the grand gallery, Rheinfels was surprised to see Francis II dressed in a simple light-blue coat, speaking with Baron Thugut, Cobenzl, and other ministers. The Empress Dowager and her cousin, Baron Walther, were also present.
Approaching, Rheinfels performed a formal chest salute. "May the Lord forever bless you, Your Majesty."
Francis II looked up and immediately asked, "Count Rheinfels, you've returned. What were the results of the negotiations?"
"Well…" Rheinfels hesitated, unprepared for the new emperor's diligence. "The vote did not pass. The French mobilized 50,000 troops and conducted a grand exercise in Karlsruhe. States like Hesse and Augsburg, under pressure, switched their votes to oppose us."
Baron Walther exclaimed indignantly, "Those shameless French!"
Francis II gestured for calm and turned to Baron Thugut. "So, our finances will continue to suffer under trade restrictions?"
Leopold II's sudden death had left the young Francis II burdened with countless issues, unsure where to begin.
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