Spain could completely purchase a large amount of machinery and equipnt from European countries at extrely low prices, and even acquire corresponding production materials and technology.
So small and dium-sized factories were already facing bankruptcy crises, and being able to sell technology and equipnt to obtain so funds was naturally better than having the entire factory and enterprise go bankrupt.
As for the harm that selling technology and equipnt might do to the factories and enterprises, it was no longer sothing they could consider. After all, if the enterprise went bankrupt, they would have nothing left anyway, so it was better to exchange equipnt and production materials for so funds to keep the financial operations going.
After determining the Spanish dostic policy for preventing this economic crisis, the next topic of discussion quickly beca what products should be purchased taking advantage of such a good opportunity.
The cabinet officials mostly discussed purchasing production equipnt and technical data from various countries’ factories, including advanced steel slting technology, production materials and production lines for military weapons, Spain’s relatively weak chemical technology, and so machinery and equipnt, etc.
These were extrely important for Spain’s industry and were things that Spain had been lacking previously.
Although there was aid from Italy and Austria-Hungary, so relatively advanced technologies and production materials were not so easily available for purchase.
Either the prices were too high, or certain enterprises had confidential technologies that were not publicly available, making them impossible to purchase even if one wanted.
The current economic crisis, however, was a great opportunity. Previously expensive production equipnt and technical data were now basically sold at dirt-cheap prices.
The money that previously could only purchase one piece of data could now buy several, and even included a piece of machinery as an extra.
The confidential technologies that were once off-limits to small and dium enterprises were now products that could be taken away just by naming a price. For this reason, Spain could not afford to miss out on this golden opportunity for a mass buying spree.
This economic crisis was bound to affect countries in Europe and Arica, which would allow Spain to recklessly select production equipnt and technical data in these countries with funds.
According to later data, during this economic crisis, nearly ten thousand enterprises went bankrupt each year worldwide, with more than fifty thousand enterprises collapsing during the entire crisis period (1873-1879).
Although many of these fifty thousand enterprises were relatively ordinary factories without advanced production equipnt or technical data,
There were also a few factories with strong research capabilities, possessing equipnt and information that Spain urgently needed.
However, when buying loads of goods in Europe and Arica, so disguise was necessary. If purchases of bankrupt enterprises and factories were made under the Spanish governnt’s na in various countries, it would likely draw attention from these nations.
Furthermore, if it provoked public anger, it would be a loss rather than gain for Spain.
The purchasing personnel going to European countries would be disguised under various identities, but their goal was the sa: to select valuable bankrupt enterprises for acquisition or to purchase production equipnt and technical information from enterprises on the brink of bankruptcy.
In the economic crisis, one country played the role of the unfortunate.
Which country was that? Of course, it was the United States, which heavily depended on foreign investnt.
European countries were plagued by the economic crisis, and their first reaction was to withdraw investnts in the United States, or at least imdiately halt further investnts.
And Aricans themselves needed a large amount of foreign investnt to maintain their frenzied construction projects. When foreign capital began to withdraw, the U.S. economic environnt collapsed instantly.
Moreover, the economic environnt in the United States had significant underlying issues.
It was previously ntioned that the railways built in the United States in recent tis exceeded the total built in the United Kingdom and Germany combined.
However, this also gave rise to a problem: a large number of railway companies erged in the United States, constantly seeking loans to construct railways.
Among the many bankers in the United States, the Cook family was undoubtedly one of the more famous private bankers.
Even Cook himself might not have known that one of his investnts directly triggered the onset of the U.S. economic crisis, leading to a devastating blow to Arican industrial production.
For Cook himself, this investnt was quite ordinary.
His partner was the Northern Pacific Railway Company, a well-known railway company in the United States, which had constructed multiple railway segnts and achieved fairly good results.
Perhaps it was because of the Northern Pacific Railway Company’s previous good reputation that Cook agreed to help the railway company underwrite bonds without much thought, agreeing to underwrite one hundred million US dollars in railway bonds.
The value of the US Dollar was not low, much higher than that of the franc and the peseta.
The value of one hundred million francs in bonds equated to over five hundred million pesetas, which was equivalent to the Spanish governnt’s annual fiscal revenue.
Such a large-scale bond sale was not easy, especially as it was faced with the war between Prussia and France at the ti of selling the bonds.
There were few willing to invest real money in a re piece of paper during warti. The results were evident: the bond sales did not go as desired, and the railway construction beca unsustainable.
If the railway could not continue to be built, it would be a huge blow to the Northern Pacific Railway Company and Cook’s bank.
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