"Benjamin, don't you think the party politics we are promoting is good?" Charles asked.
"Charles, I have lived for so long and experienced many things. Often, what I thought was correct turned out to be something else entirely. So, the older I get, the more I doubt my own judgment and pay attention to the judgment of others. Now I believe that representative government is sufficient, but I will not deny the benefits of the principle of checks and balances. Since you have done it, you must have your reasons." Franklin said very cautiously.
"Then are you willing to join our faction now and participate in the checks and balances among the various factions?" Charles suddenly asked.
"…" Franklin was speechless.
Charles' thoughts suddenly jumped very quickly. Since Franklin did not object to the principle of checks and balances, it meant that he might participate in the principle of checks and balances he formulated to politically restrain other factions.
Franklin was only seventy-two years old at the time, healthy, and not too old. Historically, he attended the Constitutional Convention at over eighty years old, leaning on a golden-headed cane throughout. Now, being ten years younger, let alone attending the Constitutional Convention, it was entirely possible for him to even run for president.
Charles' heart stirred, and the path he should take next suddenly became clear.
First, Franklin, then Madison or others, then Hamilton, putting these few on the presidential throne one by one, and then it could be his world.
Before, because he was unwilling to run for president so young, but in his faction, besides him, no one was Washington's opponent in the election. In his heart, he had actually given up on the possible first presidential election, but now Franklin's appearance gave Charles another option.
While Franklin had not yet joined any party, and while he could still live for another ten years or so, he should quickly recruit him into his faction, and then let him represent the interests of the financial consortium, represent the Republican Party, and compete with Washington for the first presidential election.
Historically, Franklin actually had the ability to contend with Washington for the presidential election. Unfortunately, in real history, the war of Independence dragged on for a few years, and the Constitutional Convention also dragged on for several years. Before the first presidential election even began, Franklin was already critically ill and nearing his end.
Moreover, people at this time could accept a seventy-two-year-old elder as a leader, at least this elder was healthy and could still travel across the continents of Europe and America by ship without issue. But to have an eighty-year-old person who needed a cane to walk as president, that would be a bit difficult. Therefore, Franklin, in real history, did not participate in the first presidential election.
"Benjamin, I once had an idea that in the government established after the Constitutional Convention, a president should be elected to lead this government and also serve as the head of this country. I wonder if you would be willing to participate in such an election? If you are willing, I and my faction, as well as the political party that will be established in the future, can support your candidacy."
Franklin, upon hearing this, frowned:
"I also have this idea of establishing a popularly elected president, but Charles, are you preparing to run?"
"No! No! I am still young and do not want to be bound by power and lose my freedom. Moreover, I am not a very suitable candidate and do not plan to participate in the election. It is only for the benefit of our faction. We most hope that this president can be someone who is close to our ideas, and you, undoubtedly, are our best choice. I have not yet discussed this matter with my faction colleagues, but I think I should be able to gain their understanding and respect." Charles said cautiously.
"Haha! Not wanting to be bound by power, only you, Charles, would have such a thought." Franklin smiled, his face flushed, but he did not accept Charles' invitation.
Such an invitation was truly too significant. Even the seasoned and steady Benjamin Franklin felt a surge of hot blood in his heart and a sense of excitement.
Having fought for the country's independence and freedom for so many years, was it truly just about giving without wanting to receive? Those ordinary militiamen, who took up arms for their homes, also wanted to return home to a peaceful life as soon as possible after victory. For politicians in high society, wasn't it about making a name for themselves in history and holding power? Even if one spoke nobly, participating in the war was to contribute to the country and its people. Then, after the war, they also needed to obtain a more advantageous position for their contributions.
"I am not that I dislike power, but rather I prefer freedom, and I simply feel that power should not become a burden to freedom. Benjamin, I truly believe that a person as seasoned and steady as you leading our nascent United States is very much in line with the future development of the country. The country cannot fall into the hands of soldiers, nor can it fall into the hands of anarchist politicians." Charles tempted again.
If it were anyone else, with a powerful faction like Charles promising support, they would have agreed long ago. Franklin, after all, was a philosopher keen on science. Although his heart was very moved, he was still unwilling to immediately agree.
"Haha! Charles, some things cannot be seen too far ahead. I am very interested in the faction you lead now, and I plan to spend more time investigating how your faction operates. If I feel good about it, I might even join. As for running for president, that is still a bit too early. We haven't even decided whether we will establish a president. Even if we do, we still need to see who will run. Our United States has many people suitable for this position, and I am not prepared to contend with a few specific individuals." Franklin smiled.
This was considered an official reply.
Whether it was to Charles' previous invitation to join the faction or the recent invitation to run for president, Franklin's reply was that he was not prepared to agree immediately.
Such a response was also within Charles' acceptable range.
"Very well, I await your good news!" Charles stood up, bowed, and prepared to take his leave.
Franklin did not try to keep him. Influenced by Charles' invitation, he now had many things he needed to think about carefully, organize his thoughts, and make a choice as soon as possible.
Just as the study door was opened, the servant waiting outside immediately reported to sir Franklin that a young major named Monroe was waiting in the living room to be summoned.
Charles and Franklin walked together to the living room. They saw Major Monroe, who had taken off his military uniform, changed into a suit, and was calmly waiting in the living room.
—
The young Major sat upright in his seat, possessing a unique military demeanor. Although servants occasionally walked past the door, he kept his gaze straight ahead, his expression natural, looking composed and mature.
Although the phrase "young but mature" would be more fitting for Charles, Charles was still increasingly satisfied with this young Major Monroe and wanted to bring him under his wing as soon as possible. It would be a great pity for such a young talent to fall into the hands of Jefferson, who was also vying for the presidency.
"Major! Hello!" Charles greeted Monroe from afar.
"Hello, Mr. Godfrey. Hello! Respected sir Franklin!" Monroe quickly stood up and saluted them, his eyes showing no trace of panic.
"Hello, young Major. To become a Major at your age is truly an extraordinary achievement. I can imagine how outstanding your performance in the war of Independence must have been!" Franklin smiled, praising the young Major.
As a contemporary political celebrity who most enjoyed mentoring young people, Franklin had always been very dedicated to encouraging them. Because of his fondness for mentoring young people, he was particularly revered by the talented youth of that era, who often saw gaining his appreciation as a shortcut to advancement. Major Monroe, of course, was one of them.
"Ah! You praise me too much. To be praised by a wise man like you is truly a great encouragement to me!" Major Monroe bowed deeply.
He came here, of course, not only to visit and greet his philosopher idol who had returned, but more importantly, he also hoped to receive the old man's patronage in politics.
"Major Monroe, you are also here to visit Franklin. Is there anything important?" Charles interjected, asking.
"Uh, I don't have anything important. It's because I knew that Franklin, whom I have always admired, had returned from Europe, and I was excited. I happened to have some questions I wanted to ask, so I was eager to meet Franklin and hastily requested an audience. I apologize for interrupting your conversation!" The Major felt a little awkward.
He thought he had interrupted Charles and Franklin's conversation and caused Charles' displeasure.
Charles looked at him and chuckled inwardly.
Although Monroe had always appeared very mature and steady, as if he had experienced many grand occasions, he was, after all, just a young Major. Now, being questioned by Charles, this "important person," he immediately felt a little nervous.
"Are those questions very important? If they are not very important, Franklin just attended the Continental Congress today and then received a large number of guests, so he is already very tired…" Charles looked at Franklin, asking for his opinion.
"Haha! Actually, Charles' accomplishments in academics and other areas are no worse than this old man's. Young Major, you can ask Charles first. If you still have questions, you can come back tomorrow to ask me."
Franklin nodded, implicitly acknowledging Charles' statement that he was tired, and a hint of fatigue indeed unconsciously appeared on his face. He was, after all, an old man. After a month-long sea voyage, he rested for only one night before attending the Continental Congress again. After Charles mentioned it, he genuinely felt a bit weary.
Moreover, he indeed needed to think about some things carefully now. As for this young Major Monroe, he was undoubtedly like other young people, hoping to receive his guidance and patronage, to find a shortcut to success. He had seen many such young people and did not necessarily have to help every one of them immediately.
"That's right, if you have any questions, we can discuss them first. If we can't solve them, it won't be too late to ask Franklin tomorrow." Charles smiled, taking over Monroe's task.
He himself also wanted to establish a good relationship with this future president, and even wanted to poach him from Jefferson. Such guidance was an opportunity that came knocking, and of course, he couldn't miss it.
"It is also my honor to receive guidance from Mr. Godfrey." Major Monroe bowed very appropriately to Charles.
Monroe had no dissatisfaction with Charles suddenly interjecting. He was even more pleased with the suggestion that he replace Franklin in answering some of his questions. After all, he had served as a captain under Charles and was quite familiar with him.
They were also of similar age, making some things easier to discuss. Moreover, Charles' political status at this time was no less than Franklin's. For someone with political ambition like him, any reliable political force was not to be offended, so the smile on his face was truly from the heart.
"Good, let's go to the earl's castle where I live to talk. Let's not disturb Franklin anymore."
Charles and the other person bid farewell to Franklin and left together for earl Rogers's castle.
Upon arriving at the earl's castle, Monroe asked a question, and Charles was a little stumped.
Because he wasn't asking a political question, but a question about military science, which greatly surprised Charles, who had expected this future president to ask political questions. If he truly couldn't answer, then so be it, but this particular question was one that Charles could answer, yet found difficult to answer.
Monroe's question was simple: he said that while commanding an artillery regiment on the battlefield, he felt that muzzle-loading cannons were inconvenient to load and had limited power. Later, inspired by explosive shells and shrapnel cannons, he felt that pre-made shells could be fired from the breech, and he asked if breech-loading shells were feasible.
"Major, although it might be inappropriate to say so, the answer to this question indeed exceeds the scope of what someone of your position can know. I find it very difficult to answer." Charles could only say this.
"Could it be that our army has already developed breech-loading shells? Breech-loading cannons? Is this a military secret?" The clever Monroe immediately realized the reason for the secrecy.
"Haha! To be precise, my Pittsburgh Armory has developed a new artillery shell design, which has already entered the physical testing phase.
Therefore, I can only say that breech-loading cannons are feasible, but as for the specific principles and designs, I cannot disclose them.
This is not only a military secret but also a commercial secret.
So, Major Monroe, now that you've heard this, swear that you will not reveal this matter, which concerns national secrets." Charles nodded.
After nearly three years of research, with the emergence of nitroglycerin and subsequent processed products like nitrocellulose, breech-loading shells finally entered the practical testing phase.
After continuously killing and injuring several people and damaging several cannons, the first prototype breech-loading cannon that didn't burst its barrel was finally born a few days ago.
Charles himself had only just received the news, so of course, he couldn't tell the specific details to a major-level officer like Monroe.
Moreover, if these cannons were to be immediately equipped by the army, perhaps he could discuss it, but now that they were still in the testing phase, revealing the information would definitely bring trouble to his armory.
The reason for revealing a little information first and then making Monroe swear was, of course, to bring this young major into his fold.
He intended to unsettle Monroe's mind, first to test the abilities of this future president, and then to consider whether to 'abduct' this not-yet-prominent future president.
The United States now was not the same as during the war of Independence, when it was a lone entity.
Now, there were already seven or eight foreign envoys in Philadelphia, and at least a few countries had professional spies.
These individuals were mainly targeting steam engines and steam warships, and if they knew his cannons were also so advanced, his armory would likely suffer.
"This…" Monroe was a little surprised.
"Swear first!"
Under Charles' urging gaze, Monroe immediately reacted.
"I swear that I will not disclose anything about Mr. Godfrey's breech-loading cannons to anyone." As he swore, he felt uneasy in his heart, deeply fearing that if even a tiny bit of news about breech-loading cannons leaked out, Charles would suspect him.
His heart was filled with fear towards this "important figure," and the subsequent conversation with Charles unconsciously revealed a hint of timidity.
Charles saw Monroe obediently swear and nodded with satisfaction.
The design of breech-loading shells had been attempted by some in Europe before.
It was just that news was not well-circulated in the United States, and those who were not military experts didn't know about it.
Monroe initially thought it was his unique insight and had hoped to gain the appreciation of Franklin or Charles through this design, thereby receiving their patronage.
He never expected that Charles had not only thought of it long ago but was also close to having a practical cannon.
"Alas! It's a pity I can't see what this cannon looks like.
If this cannon had come out a little earlier, just two years earlier, I estimate we could have annihilated the British army during the Battle of Philadelphia." Monroe sighed again.
"Haha! If you want to see this cannon, it's not impossible, just a bit troublesome." Charles pondered for a moment.
"What method, Mr. Godfrey?
I am very eager to see what this breech-loading cannon looks like.
If it's just a bit troublesome, it's not a problem at all.
I think I can endure it." Monroe asked eagerly.
"This indeed requires your own endurance. That is to join my armory and become the army's representative stationed at the armory." This was an examination of his ambition and character.
"Military representative, what is that for?"
"My Military and Ordnance Committee, upon learning of this cannon, decided to send official and military representatives to supervise the design and construction of this cannon.
Besides ensuring that the cannon's design better meets military requirements, it is also to ensure that the secrets of the new cannon do not leak out.
I can recommend you for this representative position, but you must respect the secrecy rules during your stay.
And you need to be permanently stationed at the armory and not leave.
You will only regain your freedom when the cannon can be officially sold.
How about it, are you willing?" Charles asked with a smile.
Monroe jumped in surprise; how could he be willing?
Although he was interested in breech-loading cannons, that was merely interest, and more so, he wanted to create an opportunity for himself to make a name in history or rise rapidly through the ranks.
Now the war was almost over, and who knew when this cannon would even see battle?
If he worked hard supervising there, he probably wouldn't get any merit.
Besides, who knew how long he would have to keep the secret there?
If the breech-loading cannon research didn't succeed for decades, wouldn't his entire life be wasted?
Monroe, being ambitious, would naturally not do such a thankless task.
"Alas! That's really a pity.
I just want to see what this cannon looks like, that's all.
As for asking me to participate in the secrecy operation, I'm afraid I don't have the patience." Monroe honestly admitted.
Charles didn't care in the slightest, still smiling and nodding.
"Perhaps I can show you a miniature model of this cannon in a while."
In his heart, however, he speculated, it seems Monroe is indeed a very politically ambitious person, unwilling to be tied down by matters like cannons.
Then let's see how great his ambition is, and he should be tempted in other ways.
"Ah! That's great, I thank Your Excellency first!" Monroe immediately agreed.
"Major Monroe, are you preparing to run for a delegate position in the Virginia Constitutional Convention?
Our financial interest faction also has many members in Virginia.
The supporters for this election have not yet been decided.
Who do you think among the people of Virginia would be more suitable to be a delegate?" Charles' words had no hidden meaning, almost directly enticing him.
A glint flashed in Monroe's eyes; of course, he understood Charles' direct hint.
"Mr. Godfrey, there are many outstanding figures in Virginia.
Without mentioning those far away, General Washington and Mr. Jefferson are undoubtedly the most outstanding.
Even if placed in the entire United States, they are representative figures who can stand shoulder to shoulder with Your Excellency and a few others.
To select a few Constitutional Convention delegates, I think it should be very easy for Your Excellency."
Charles listened and nodded again.
Very good.
Although he had ambition, he also knew when to advance and retreat.
If he had said he wanted to participate in the election just now, that would have been the greatest manifestation of ambition outweighing ability, and he would have needed considerable training.
Now it seems that even though Monroe is still young, in all aspects, he can indeed be described as mature, only lacking in status and reputation.
Such a person is most suitable to be brought in as a successor force for the faction.
"Major Monroe.
I hear you have joined Mr. Jefferson's Democratic-Republican Party?" Charles suddenly asked.
"Yes, Your Excellency.
Mr. Jefferson has always taken great care of me.
His Democratic-Republican Party is also a very free party, and I feel that I get along very well with everyone around me." Monroe answered openly.
He knew that Jefferson's Democratic-Republican Party had conflicts of interest with Charles' financial interest faction.
But he believed Charles should not vent the conflict between two political groups on a "small figure" like himself.
"Major Monroe, I also admire you very much.
Originally, I wanted you to join my soon-to-be-established Republican Party and be groomed as a key young representative, just like Mr. Hamilton within the party.
How about it, are you interested in transferring to our future Republican Party?
Our party's ideology should be similar to Jefferson's Democratic-Republican Party." Charles asked directly.
People of this era liked to speak directly, and it was best to ask these questions directly.
If one hinted indirectly, it might not only waste time but also annoy the other party.
"Join the Republican Party?" Monroe strongly suppressed a hint of joy on his face, though his eyebrows were almost raised.
He still had a bit of youthful temperament and felt no dissatisfaction with Charles' direct poaching.
Instead, he was very happy because he felt valued.
Especially when Charles mentioned Hamilton, the current head of the Internal Revenue Service.
Monroe was very familiar with this peer who had once served with him in the Continental army.
Both were talented young military officers, and Monroe and Hamilton were both very concerned about each other's situations.
Ever since Hamilton received Charles' patronage, he immediately became the interim central bank director and was later transferred to the new department as the head of the Internal Revenue Service.
Although he had always worked in experimental departments with limited power, the improvement in Hamilton's status and influence was clear for all to see.
Among all the young people in the United States, besides Charles, perhaps only Hamilton was above Monroe, and all of this was the result of Charles' patronage.
Monroe began to imagine what position he would get if he also received Charles' patronage.
"How about it, Major Monroe, would you like to consider it first before giving me an answer?
You don't have to worry about Jefferson's opinion; I will speak to him, and there will definitely be no problem." Charles spoke again with a smile.
Jefferson certainly wouldn't fall out with him over a major, and he might even ask Monroe to, given his former membership in the Democratic-Republican Party, try to coordinate relations between the two parties and cooperate in the Continental Congress and future Congress.
Monroe was indeed quite mature and steady.
Upon hearing Charles' second question, he immediately calmed himself down.
"Yes, Your Excellency Godfrey, I will seriously consider your invitation.
However, no matter what, I hope my party transfer will receive Mr. Jefferson's consent.
If he does not approve, I do not wish to join another party in the short term, and I hope you will understand at that time."
"Of course, don't worry, I'll go back and talk to Jefferson." Charles agreed frankly.
After this exciting question was raised, their discussion concluded.
Monroe naturally left, full of thoughts about whether to change parties, while Charles visited Jefferson, the founder of the Democratic-Republican Party, that very night.
The two first exchanged views on the United States' recent foreign policy and negotiations with Britain, and then Charles brought up his request to have Monroe.
Jefferson was greatly surprised:
"Charles, freely changing parties, I don't see why not.
But I don't understand why you suddenly want this young Major Monroe to join your faction?
He doesn't seem to have any special talents, does he?"
Of course, Charles wouldn't say, I know he might become president in the future, and he already has the look of a president.
So I want to bring him over as a reserve force for our faction.
He just replied with an indifferent smile:
"Thomas, this is just my personal habit.
I have always appreciated young people around my age, like Hamilton and Monroe.
I want to help these young talents."
"But why do you suddenly want to entice him to switch parties now?"
"Oh, that's because I just had an interesting conversation with Major Monroe today and felt he was a very good talent, so I had a sudden idea.
Thomas, you wouldn't refuse to let him go, would you?" Charles asked, staring intently at Jefferson's face.
"Haha! The Democratic-Republican Party allows free party transfers, so of course, I won't refuse." Jefferson quickly denied with a laugh.
In his heart, there was indeed some hesitation.
Monroe was, after all, the most outstanding figure among the younger generation of the Democratic-Republican Party.
To let go of such a person just like that, Jefferson felt a bit reluctant.
"Thomas, don't try to fool me.
Monroe said he must have your consent before he would switch parties.
Don't you go and tell him you don't agree when he comes to you later." Charles pressed on relentlessly.
"Hahaha!" Seeing Charles' determined look, Jefferson burst into laughter.
"Alright! Don't worry, I understand.
If he comes to me, it means he genuinely wants to join your faction, and I'll just say I agree."
He also felt helpless.
Ever since the financial interest faction began assisting in the election of Constitutional Convention delegates in Pennsylvania, Jefferson had for the first time realized the grassroots power of the financial interest faction.
It was a force that he and the Federalist Party combined could not contend with.
Now, the Democratic-Republican Party was the largest party in the Continental Congress, but its actual influence was far less than Charles' financial interest faction.
Jefferson did not want to offend Charles, his competitor and political ally, over a young Monroe.
"Good! My faction and I will remember your kindness this time."
Charles finally breathed a sigh of relief.
After visiting Jefferson, Charles breathed a sigh of relief upon returning home.
Given Major Monroe's political ambition, he should definitely side with us after such temptation.
Unfortunately, this young future President's current abilities and influence are no match for a future President like Madison; he isn't someone who can be used immediately after being brought in.
I still need to put in effort to properly train him.
However, a President game is also a very interesting thing.
Since I can't run for President immediately, training a few different types of Presidents is also a very good choice.
It's decided.
Once Monroe joins my faction, I'll immediately send him to the armory to supervise cannon manufacturing, to first temper his patience.
Then, I'll send him to the Ohio area to serve as governor or Deputy governor of a newly divided state, to train his administrative abilities.
The subsequent positions and training arrangements can be taken slowly.
This Presidential training program isn't just about training people; it also has to be interesting.
In the following days, Charles instructed the core members of the consortium's interest faction to focus on recruiting suitable young people to serve as the next generation of the political party's strength, the generation he could truly use firsthand.
Many current outstanding figures, such as Morris and Wilson, would likely be old by the time he could become President, so new people would definitely be needed then.
Therefore, suitable personnel should be cultivated now.
This task objective quickly attracted Alexander Hamilton, the most outstanding young figure in the current faction.
The young Director of the Internal Revenue Service submitted a long list of talented young people to Charles and then earnestly requested Charles to promote and employ them.
Charles promised to carefully examine these individuals and smiled as he put down the list.
"Alexander, you've been in your position at the Internal Revenue Service for over a year now; how do you feel?
I've noticed you haven't proposed any of your improvement plans recently."
"Haha!" Hamilton laughed somewhat awkwardly.
"I've been following your instructions recently, diligently studying economics with Mr.
Morris and others, and I'm no longer planning to write proposals that are impossible to adopt."
The political arena is absolutely the best place to train people.
Hamilton used to be impulsive, liking to showcase his talents in front of others.
After becoming the interim President of the Central Bank, he continuously put forward many opinions on economic policies and departmental improvement plans.
Regardless of whether these plans were feasible, his continuous actions of overstepping his authority to propose bills offended many conservatives and old-fashioned individuals.
If Charles hadn't consistently protected him, he would have long been kicked back to the army or even directly dismissed as a civilian.
After several setbacks, coupled with the admonishments from Charles and other faction members, Hamilton quickly matured.
Although he still couldn't compare to seasoned politicians like Wilson, at least he no longer caused trouble indiscriminately, making Charles clean up his messes.
Charles' true Presidential training target was actually him.
"If you can rein in your sharpness and learn the interpersonal skills of Morris and others, I believe your future prospects will definitely not be beneath mine."
Charles didn't want Hamilton to become dejected, so he immediately encouraged him.
"You flatter me.
I believe among the young generation of the United States, you should be the most outstanding figure.
Leading the American people to victory in the war of Independence, no one, whether now or in the future, should be able to surpass you."
Hamilton's face showed undisguised reverence.
"Haha!
That's hard to say.
I recently persuaded a young man from the Republican Party, whom you might know, Major James Monroe, an excellent young officer in the Continental army.
I'm preparing to bring him into our consortium's interest faction."
Charles avoided discussing leading the war of Independence.
"Major Monroe?" Hamilton was overjoyed.
"He and I have been familiar for a long time.
We even had a bet to see who could become a Major first.
Unfortunately, I later came to the Continental Congress, unable to fulfill that competition, allowing him to get ahead."
"Hahaha... your current achievements are far greater than his as an ordinary Major.
However, I do think he is more suited for politics than you.
Although you are talented, you don't know how to be flexible.
If you could be as adaptable as Monroe, I would certainly feel much more at ease."
Charles said with some regret.
Between Hamilton and Monroe, whether judging their historical evaluations or their current interactions, Charles preferred Hamilton more.
He always felt a certain apprehension about Monroe, sensing that he was too adept at political maneuvering and had lost a genuine political talent.
"Hehe!
Aren't you, our faction leader, looking out for us from above?
Several times when I caused trouble, you were the one who helped me resolve it.
Don't worry, I will definitely repay you in the future."
Hamilton said with a playful smile.
If it weren't for a prominent figure like Charles looking out for him, he wouldn't be serving as a civilian official at this time.
"As long as you achieve good results and don't let down the help I and the faction have given you, that will be the greatest repayment."
Charles said indifferently.
He truly didn't care about repayment now, because as the war was about to end, the messy accounts between him and the Continental Congress were almost settled.
Once this debt was collected, he would truly become an existence that could influence the fate of the United States.
Neither the merits of leading the war of Independence nor the merits of manufacturing new firearms were as effective as this account.
Over the past two years or so, the Continental Congress had borrowed a total of two hundred thousand pounds and a large amount of Spanish gold coins from Charles' Pittsburgh Bank and Pennsylvania Bank, and had also printed five million dollars in new currency, guaranteed by the credit of several banks.
Of course, this five million was also given to the Continental Congress.
If those several bank loans plus interest could not be repaid on time by December 30th of this year, Charles would be able to confiscate the collateral that the Continental Congress had put up when borrowing from him.
All these various collaterals combined amounted to nearly half the size of Pennsylvania and five types of taxes, including customs duties.
Morris' Bank of America also obtained one type of tax and land nearly the size of Philadelphia.
The land would be confiscated according to the loan contract and would belong to Charles and his associates.
The taxes, according to the loan agreement, could be collected at double the rate as compensation.
Charles and his associates would collect this full amount and then return it to the United States.
Currently, the Continental Congress simply had no money to repay the loans on time, so these collaterals being used for repayment was already basically a foregone conclusion.
These losses, of course, would be shared by the various states, and even Charles' United States would bear a state's proportion of the loss.
The land was not so bad; divided among the fourteen states, each state only needed to contribute a very small piece.
Everyone wasn't too heartbroken, as the United States had plenty of land anyway, and a little less land wouldn't cause trouble for the government.
But that taxation drove people crazy.
Especially the customs tax; with the resumption of maritime trade with Europe, the feeling of making a fortune daily returned to the customs department.
This newly recovered customs duty would immediately be transferred to Charles.
Most Continental Congress Representatives were unwilling to accept this.
Who knew if Charles would take advantage of controlling the taxation power to secretly levy how many taxes and collect how much money?
Such a huge loss, of course, was unbearable for the Continental Congress and other patriots.
Some representatives once proposed that Charles and Morris' banks continue to issue dollars to serve as repayment.
Unfortunately, Charles and Morris, after consultation, unanimously refused to print unsecured dollars on the grounds of lacking collateral.
Some also proposed borrowing from France or Spain, but this was even less possible.
Because loans require collateral, and what the United States could currently use as collateral had basically all been pledged to Charles and Morris' three banks.
Where would there be any capital left to pledge?
Moreover, Charles and Morris and their associates would at most only demand several years of taxation rights.
By secretly manipulating things and adding compound interest, they would collect a large sum of money.
However, borrowing from other European banks would not only incur high interest but might also come with political conditions.
Furthermore, the consortium's interest faction led by Charles and Morris had strong influence, constantly urging the Continental Congress to repay the loans according to the spirit of the contract.
Even if the Jefferson and Adams factions united, they couldn't logically persuade Charles and his associates.
Recently, everyone had quieted down, preparing to tacitly accept Charles and Morris' takeover of those taxes.
—
Historically, the new American Government was almost driven to bankruptcy by these large loans, and it was ultimately Hamilton who resolved the issue.
Now that Hamilton was under Charles' control, he naturally wouldn't do anything that would harm Charles.
Additionally, he wasn't serving as Finance Minister as he did historically, so it wasn't within his scope of responsibility.
And his previous proposals had all been ridiculed by the conservative Continental Congress Representatives, so Hamilton simply didn't want to offer any more ideas in this regard.
"Your Excellency, the transfer of several tax collections controlled by the Continental Congress is almost ready.
Once January 1st arrives, as soon as the court judgment is issued, your accountants can take over the collection of these taxes.
According to the agreement, the salaries of these accountants and tax officials can be deducted from the tax revenue first."
Hamilton honestly reported his work to Charles.
"Very good.
At that time, I'll need you to guide those people.
I hope there won't be any problems."
Charles was a little worried about Jefferson and Adams and hoped they wouldn't sabotage his action of taking over American tax revenue this time.
"Don't worry.
From the information I've gathered in the economic department, the Continental Congress should have no solution.
The right to collect these taxes will definitely fall into your hands."
Hamilton had no doubts at all.
"Alas!
That's several years of tax authority.
Without these taxes, I'm worried that after the government is established, it will immediately become dysfunctional.
At that time, it will depend on the performance of the government leaders.
I hope there won't be any major problems."
Charles said with a slight worry.
This was something he had already thought through.
If the new President and the new government were people from his faction, or people friendly to him, then when the government's finances were tight, he would return half of the tax collection rights to the government, or even temporarily hand over part of the tax revenue entirely to them, allowing them to first resolve the crisis, and then he would slowly collect the loans back.
However, if the government was run by people hostile to him and acted unfriendly towards him and his faction, then he wouldn't be polite.
The United States only had a handful of tax types, and now that he controlled the most important customs duties, he didn't think the government could operate smoothly.
At that time, he would definitely force them to surrender to him.
If the government forcibly took over tax collection, although it would be a big trouble, his Pittsburgh and United States were not to be trifled with.
Even armed resistance was not impossible.
"Although there are several types of these taxes, with customs duties backing them, they won't be collected for many years.
According to the statistics I obtained from the customs department last month, the tax revenue from Pennsylvania and several other major foreign trade states alone is three to four thousand pounds a month, and this tax revenue is still continuously increasing.
Once the peace treaty is signed, I believe this customs duty amount should double again.
It is estimated that within five years at most, the loan that the Continental Congress owes you should all be collected back by you."
Hamilton had already made an assessment in this regard.
"Nonsense, the growth isn't that fast.
I've also made statistics in this area, and it would take at least ten years of collection to recover double my loan."
Charles glared at Hamilton.
This guy Hamilton was just too frank.
If he only collected for five years, wouldn't he only recover his costs and normal profits?
Lending to the American Government and the country, if there were no extra profits, he wouldn't do it.
When he initially demanded customs duties as collateral, he had already prepared to collect an additional sum.
"Uh, but..." Hamilton still wanted to argue.
"There are no 'buts'.
Several economists under me recently discovered that the growth with Europe in recent months is abnormal.
It's a surge-like explosion that occurred due to the earlier British embargo, a compensatory trade for the previous inconvenience of goods flow.
In the coming period, trade volume and tax revenue may even decline.
Therefore, even if it continues to grow steadily afterwards, it will still take at least ten years of collection to recover my loans and profits."
Charles continued to speak forcefully.