One More Thing
It wasn't just the South that found itself filled with anxiety after the American Civil War. The North, having achieved a resounding victory, was also grappling with its own set of problems, leading to endless debates day after day.
“The point is, simply stimulating domestic consumption won't solve the issue of the massive surplus we have on our hands. We have such an overflow of weapons that we have no choice but to export them abroad in bulk.”
“Good grief, why on earth did we produce so many weapons we can't even use, and why is there so much material left over!”
“That’s because we didn’t know the war would end this quickly!”
Indeed. Through this war, the North had demonstrated exactly what a failure of prediction looked like. Who could have known the war would end in less than a year? When the North first began to push the South, the South had kept its guard high and engaged in a war of attrition. Naturally, from the North's perspective, the only logical conclusion was that this wouldn't be over in a day.
Because of this, the North ran its factories at full capacity, 24 hours a day, 365 days a year, under the guise of revitalizing an economy stagnant from the panic and teaching the Southerners a lesson. Thanks to this, the Northern economy pumped up, enjoying the full benefits of a wartime boom, and the excited White House and Republican Party increased production again and again.
It was a very rational judgment: since the Southerners were just acting like sandbags, taking a beating, the North just needed to keep throwing punches.
However.
“Those idiot Dixie bastards. If they were going to get crushed in less than a year, why the hell did they act so tough!”
“Secretary, please watch your language...”
“No, isn't it true? They picked a fight so confidently that we mistakenly thought they had something up their sleeves.”
They had prepared 100 gloves, thinking they were dealing with a sturdy sandbag, but lo and behold—the sandbag had burst at the seams after only a few hits. That was the current situation in the North.
But both the North and the South had their excuses.
“Who could have imagined that a black uprising of a million people would suddenly occur?”
“...Sigh, that’s exactly it. It’s good the war ended early, but it ended too quickly for anyone to anticipate.”
At first, they had been all smiles, celebrating the great victory of the Republican Party and the Lincoln administration, but this was their first time learning what excess supply could lead to.
“Let’s stop with the hindsight that we should have reduced production since it’s already happened. The important thing is what we do from here on out.”
“Still, fortunately, a good proposal has come our way. I believe this is the only path. We must head to the Pacific.”
Secretary of State Seward, the man who loved the Pacific more than anyone else in the United States and believed that all territories in the Pacific should be seized, quickly changed the subject.
“Mr. President, and fellow Secretaries. Let’s be honest. What options do we have left? Are we going to keep that massive naval fleet tied up in port and let it rust? Or should we burn the cotton textiles and industrial goods piled up in our warehouses?”
He stood up from his seat and tapped the world map hanging on the conference room wall.
“The answer is already decided. This proposal by the British to open up the Asian market is a godsend. Hawaii, the Danish West Indies, Dominica, Midway... there are countless places we need to reach out to.”
Seward’s eyes burned with the aspiration of completing a true Pacific Empire.
“We must take this opportunity to definitively annex or purchase key strategic points in the Pacific and make the United States an empire in name and reality. If we plant a stake in Japan and pry open the Qing Dynasty market, it would be perfect.”
“I understand the Secretary of State’s passion, but... isn't that too blatant an expansionism? We’ve been criticizing imperialist nations, and now you want us to do the same thing?”
“Mr. President, is there any country on this earth that isn't blatant? Britain? France? They are all desperate to grab even one more piece of meat.”
Seward protested as if he were being wronged.
“And are we talking about sending troops to enslave them? No. We are simply spreading the light of civilization and pursuing legitimate commercial interests. Isn't this the very pioneering spirit of America?”
It was a plausible sophistry, but hard to refute. Not because it was logically sound, but because the most important thing right now was the national interest of the United States. Moreover, as Seward said, no matter how much the U.S. acted out, it could never match the original flavor of what Britain and France were doing.
As everyone’s opinions converged, Secretary of the Treasury Salmon Chase, who had been listening quietly, chimed in to support Seward’s argument.
“I also agree with the Secretary of State. Of course, I am against burdening our finances with excessive land purchases, but... in a situation where surplus production capacity is overflowing like now, opening up overseas markets is essential. It is something we must do to prevent an economic downturn.”
With the heads of the economy and diplomacy speaking with one voice, Lincoln could no longer offer only principled opposition. Of course, he didn't forget to draw an appropriate line, as he couldn't just blindly agree to acts of aggression.
“It’s all well and good, but... I question whether Britain made this proposal for our benefit. We must never let our nation be used as a tool in their plans.”
What kind of country was Britain, after all? Wasn't it a country that never did anything for others and could stab its allies in the back at any moment? If they proposed that they share the massive pie of Japan and the Qing Dynasty, there had to be a hidden motive.
“We need to clearly grasp their intentions, as we don't know when, where, or how they might betray us.”
“That is correct. Even if we get on the same boat because our interests align for now, we must not forget that fact.”
Lincoln pulled a letter from his drawer. It was a personal letter from Prime Minister Palmerston, sent by Seuret from the South.
“Just looking at this letter alone, it’s easy to see how sincere Britain is about securing new markets. Besides, the public sentiment in the South is burning up at just the right time, so the Union should be able to unite as one for the first time in a while.”
“That’s true. From the South’s perspective, they have no reason to oppose opening up the blocked cotton export routes.”
In fact, it was the United States' destiny to disperse this overflowing power outward anyway. So, Seuret gathering Southern public opinion in advance was a huge boon for Lincoln. This policy would serve as an economic lifeline for the North and a form of appeasement for the South, which was drenched in a sense of defeat.
“Very well. Let’s hear the South’s opinion and make a final decision. Did you say Colonel Seuret and Chairman Farrer are on their way up?”
“Yes, they will arrive shortly.”
Lincoln stroked his chin, staring at the map. Britain’s proposal and Seward’s ambition were all well and good. But what Lincoln was truly curious about was something else. How much value could the ‘Asian market’ they spoke of realistically bring to the United States? The man who would bring that answer was currently heading toward Washington.
For a mere businessman, neither a congressman nor a politician, to stand before the President and his cabinet in the White House could be seen as a massive success. It would be one thing if I were dragged in for a parliamentary audit, but right now, they wanted my opinion to help decide a policy that would have a major impact on the nation. But that was precisely why I had to be even more careful.
What if they trusted my words implicitly and launched an attack on Asia, only for it to end in a miserable failure? Or what if I poured my heart into the presentation, only for them to cut it, thinking it was an unattractive proposal? Either way, it would significantly diminish my growth potential, so I prepared more thoroughly than ever and scripted my presentation.
Just like when I presented to executives in my past life, I took a deep breath and began, feeling a sense of solemnity.
“Mr. President, and Secretaries. We have had to just lick our lips while looking at the massive market of the Qing Dynasty. What was the reason?”
Britain had been overjoyed, thinking they would make a fortune once the massive Qing market opened, but the result was a bust. The reason was simple. It was the mystery of the continent: the efficiency of the Qing Dynasty’s ‘biological factories’—their cottage industries—was better than that of British machine workers.
“The efficiency of the Qing Dynasty was terrifying. Price competitiveness was meaningless in the face of their human-wave tactics, where they plowed fields by day and wove cloth by night. It’s no wonder Britain ended up peddling that insane product called opium.”
Seward nodded. It was a natural reaction, as even though they were part of the same Western sphere, Britain’s Opium Wars were now considered almost a laughingstock. But now, all of that was just past data.
“Fortunately, the situation is completely different now. The Taiping Rebellion. The uprising of those cultists has literally devastated the Jiangnan region, the heart of the Qing Dynasty’s cotton production and textile industry.”
No matter how much the Qing farmers tried to push their human-wave tactics, what could they do when their production base had been destroyed? The moment supply fails to meet demand, prices skyrocket, and the market door is forced open.
“The balance of textile supply and demand in the Qing Dynasty has completely collapsed. British cotton textiles now have the upper hand in price competitiveness. If we supply high-quality raw cotton without limit on top of this? The Qing market will fall right into the palms of London and New York.”
I unfolded the charts I had prepared. Data proven by thorough figures, not just simple wishful thinking.
“If we add Japan, which has just opened its doors, the scale is beyond imagination. Even if we combine only China and Japan and take a very conservative estimate, a potential demand of over 900,000 to 1 million bales per year will arise.”
“1 million bales...?”
Secretary of the Treasury Salmon Chase’s eyes widened.
“That is a quarter of our cotton export volume before the war. I even believe that one-third is possible, as this is a very conservative estimate. It’s not just that a new market is opening; a massive market equivalent to one-third of the existing market is being newly created.”
Of course, this was just the beginning. If Britain and the U.S. joined forces to take control of the Qing’s inland market, this figure could jump nearly twofold. But there was no need to go that far. The figures I had presented were enough to make their jaws drop.
“This doesn't just mean the South’s cotton will sell well. It means transportation to carry this massive volume, the finance and insurance derived from that process, and even the shipbuilding industry to construct the vessels.”
It was the completion of a perfect virtuous cycle that benefited not only the South but the North as well. As expected, I could see Lincoln’s expression brightening noticeably as he reviewed the figures.
“All this infrastructure is the North’s share. A structure where the more the South’s cotton sells, the more the North’s factories and ports run. Isn't this the true North-South integration we should be striving for?”
Chains bound by economic interests are stronger than any political agreement. If both sides are profitable to each other, there is no reason to pick up guns and fight.
“You are right. A true Union is only completed when the economy is integrated. Quelling the South’s dissatisfaction and resolving the North’s surplus production capacity... it’s excellent.”
“I agree as well. At this scale, it would be more than enough to cover the fiscal deficit.”
Salmon Chase nodded as if satisfied, and Seward seemed to be already drawing the routes of the Pacific Fleet in his mind. No one was saying it out loud, but since this market opening couldn't possibly be 100% peaceful, they would be able to put their overflowing military supplies to good use.
The atmosphere warmed up. I could have easily gotten their approval as it was, but I had no intention of stopping here. If I was going to set the stage, I had to do it right. I had to amplify the potential gains to the limit and scrape them up greedily.
“I’ve heard your story well. Then we will also positively consider...”
“I am truly sorry, Mr. President, but this is not the end.”
The most effective way to drive people crazy in a presentation: *One More Thing*. I revealed a small card I had been deliberately hiding in the White House conference room.
“Between this Qing Dynasty and Japan, there is actually one more market we should keep an eye on.”
“Where is that... where was it again?”
“Isn't it one of the Qing Dynasty’s vassal states?”
“That is what I understand as well.”
It was an unknown country whose existence was only vaguely known, but if Britain were to begin developing Northeast Asia in earnest, someone would inevitably have their eye on it. So, shouldn't I be the first to stake a claim? Confirming that everyone’s gaze was focused on the small peninsula on the map, I slowly continued my explanation.
“Secretaries, do you happen to know the nickname of that country? As I confirmed in Britain, they are called the ‘White-Clad People’.”
“Does that mean they only wear white clothes?”
“Yes. Literally, a population of ten million wears white clothes from head to toe all year round. They wear pure cotton itself, without even dyeing it.”
A population of ten million is not a small market. Of course, that country was miserably poor, so there wasn't much to suck out in terms of commerce, but there was one exception: the demand for cotton textiles.
“Ten million people all wear white clothes?”
“Furthermore, that country still uses cotton textiles as currency. It’s not everything, but the British analysis is that the proportion is quite significant. In other words, it’s a country where food and cloth are money.”
Ten million potential customers. Most of the materials they wear, cover themselves with, and even use as money come from cotton. Of course, the main focus is the Qing Dynasty, the side is Japan, and that place is just a bonus. However, no matter how much of a bonus it is, it wouldn't be meaningless in the dimension of being a new market that no one had expected.
“In exchange for actively cooperating with Britain, I propose that we exclusively supply the cotton to be used for the textiles exported to this peninsula.”
If you add up all those markets, how much cotton could we sell? So, I couldn't miss a single one. Not just the Qing or Japan, but even Joseon.