Chapter Twenty-Six: Buying and Selling Land—A Toast to Freedom!

Chicago, United States.

At this time, Chicago was nothing more than a desolate little town.

However, a young man from the European continent arrived and, with a single stroke, spent 200,000 US dollars to purchase half the town and the surrounding wilderness. The young man was immediately elected mayor of the town. He found himself in a rather helpless situation; he was, after all, an official of the Austrian Empire, sent by Baron Bruck to acquire land for the Empire. Finding himself unexpectedly elected mayor of an American town, he had no choice but to write a letter to Baron Bruck in Austria to ask for his instructions.

At the same time, other Austrian special envoys tasked with purchasing land in Boston, New York, Philadelphia, and other cities were also attracting significant attention. Some recognized that the young man who had lavishly spent 1.5 million dollars on land in New York was the nephew of Baron Bruck, the special advisor to the Austrian Emperor. It was rumored that Baron Bruck was the true helmsman of the Austrian Empire's finances. As more information was unearthed, the influence of these events grew ever greater.

Due to the expanding impact, the identities of others who were buying land on a massive scale were also exposed one by one. Among them were descendants of great European aristocrats, heirs to major banking houses, and even descendants of the Sina family, who had once rivaled the Rothschilds.

This was exactly the effect Baron Bruck had desired; he was buying land specifically to stir up speculation. Almost every banker knew that American land prices were rising too quickly, yet they were all bullish on the American land market. It was just that no one had dared to poke a hole in this paper window—Baron Bruck was the one to puncture it and let the wind rush in.

As he had anticipated, following these events, Americans began to value their land more highly and were no longer willing to sell it easily. What followed was a wave of copycats; first in America, and then, as the news reached Europe, capitalists flocked to join in.

At this time, the United States government was also fueling the fire, introducing a series of policies to attract foreign capital while simultaneously printing large amounts of paper currency due to economic overheating. Banks issued massive loans, and the land-speculating capitalists used their land as collateral to borrow even more from the banks to buy yet more land. Naturally, land prices soared to the heavens. Although the inflow of precious metals into the United States had indeed increased, the amount of paper currency issued far exceeded the limit of what the United States could redeem.

Philadelphia, headquarters of the Second Bank of the United States.

"Damn it! Andrew Jackson is a short-sighted fool, a thug with a gun. We must print more banknotes so that more Europeans will come to invest. When we are faced with a massive fiscal surplus, we shall see what that thug has to say then!"

The man speaking was none other than Nicholas Biddle, President of the Second Bank of the United States, and the "thug" he cursed was Andrew Jackson, the seventh President of the United States. Given that Andrew Jackson was a military man who had made his name by seizing land from the Native Americans, the title of "thug" was, in his view, well-earned.

Biddle’s resentment stemmed from the fact that Andrew Jackson refused to extend the federal charter of the Second Bank of the United States and planned to shut it down. Andrew Jackson had once told the Vice President at the time, Martin Van Buren, "That damn bank is trying to kill me and America, but I will kill it first!"

To cut off a man’s livelihood is akin to killing his parents; such a feud is irreconcilable. Naturally, Biddle had nothing good to say about Andrew Jackson. In truth, Andrew Jackson was correct—the Second Bank of the United States was indeed influencing the American economy, and it was heading toward an unstoppable disaster.

In the early 19th century, the United States federal government had no central bank of its own and, therefore, issued no paper currency. The federal government’s money supply was limited to various coins, while paper currency consisted of banknotes issued by thousands of state-chartered banks. These banks were a mixed bag, ranging from completely reliable, high-reputation institutions to outright swindlers.

At this time, although the Second Bank of the United States functioned as a central bank, it subscribed to the so-called "free economy" and printed paper money recklessly. In just two years, the total volume of paper currency in circulation had increased by nearly 50%. Yet, such insane behavior was merely the beginning of its path to ruin.

The headquarters of the Second Bank of the United States, completed in 1824, was modeled after the Parthenon, intended as a temple of finance. Yet, it was this very temple that would witness the first true economic crisis in American history.

In 1834, more than 30 million acres of land were sold (the historical figure for the same period was 27.92 million acres). There was no doubt this would greatly alleviate America's debt pressure. Furthermore, according to this momentum, the U.S. treasury would soon see a massive surplus, at which point Andrew Jackson would have no choice but to apologize to Biddle for his words.

Biddle puffed on his cigar and sipped his red wine, watching the busy crowds outside, and could not help but sneer.

"A bunch of idiots. Why don't they come to me for investments? Nowadays, if there isn't a hundred percent profit, I'm almost embarrassed to collect a commission. Don't you agree, Mr. Van Buren?"

"Mr. Biddle, you are quite right. Your predictions are truly impeccable. The land you had me purchase in Manitowoc, Wisconsin, has already tripled in value in just one week," Martin Van Buren replied cautiously.

The reason he was being so subservient to a speculator was entirely because he had grander ambitions. What Martin Van Buren wanted was not just money; he wanted to become the next President of the United States. However, Andrew Jackson was a war hero, and those who smear heroes are usually villains—and a villain could not become the President of the United States. Thus, there was no one better suited to play the role of the "villain" than this genius before him, who had obtained a doctorate from the University of Pennsylvania at thirteen and was in control of the nation's largest bank before he was thirty.

If Biddle and Andrew Jackson attacked one another and both were left crippled, his own path to becoming the next American President would be clear.

Biddle exhaled a smoke ring that made Martin Van Buren cough repeatedly, then suddenly uttered a sentence that left him stunned on the spot.

"Mr. Van Buren, what do you think of me running for President of the United States?"

Before Martin Van Buren could answer, Biddle continued to himself, "That would be far too boring, don't you think, Mr. Van Buren?"

Martin Van Buren broke into a cold sweat but kept his expression unchanged as he reminded him, "Andrew has never given up on the idea of closing the Second Bank of the United States. If the Second Bank of the United States is shut down, it will be a disaster for all freedom-loving American citizens."

"Rest assured, I will make him admit with his own mouth that the Second Bank of the United States is the pride of America."

Martin Van Buren raised his glass.

"To freedom!"

Biddle extinguished his cigar on the table and picked up his glass.

"To freedom!"

Vienna, Schönbrunn Palace.

Thalia was looking at Franz with wide, expectant eyes. Franz knew exactly what she wanted—French cuisine, of course. Franz took out a bag, pulled out a box of foie gras, and handed it to her.

"Foie gras."

"Thank you, Archduke Franz. This is my first time eating foie gras," Thalia said, unable to hide her delight.

Franz did not like such things at all; they were far too greasy. In truth, he knew well that Thalia wasn't necessarily a glutton; it was merely her idle vanity at play. He simply decided that whatever he could bring back, he would, and let her have her fill.