Under Jerome Bonaparte’s direct deployment and command, the mourning delegation completed all preliminary preparations within just three days.

A mourning delegation led by Prince Monfort and assisted by Valerovsky set out from Paris on January 8, 1859, heading to Vienna, the capital of the Austrian Empire, to attend Marshal Radetzky’s funeral.

To express the French Empire’s regard for Marshal Radetzky’s funeral, Jerome Bonaparte hosted a moderately sized farewell ceremony for the mourning delegation and personally escorted Prince Monfort and others onto the royal train.

Accompanied by the piercing whistle of the steam locomotive, the royal train began accelerating forward.

Standing on the railway platform watching the train that was about to disappear from sight, Jerome Bonaparte similarly turned and left.

Before taking a carriage back to the Tuileries Palace, Jerome Bonaparte summoned the adjutant Bourbaski.

"Your Majesty, what are your orders!" Bourbaski stood straight, asking Jerome Bonaparte in a respectful tone.

"You must immediately go to the Ministry of Finance, the Department of Public Transport, and the Bank of France. Have Minister Achille Fuld, Minister Barroso, and Director Bemini come to the Tuileries Palace by 3 pm today!" Jerome Bonaparte commanded Bourbaski.

Upon receiving the order, Bourbaski saluted Jerome Bonaparte with a crisp sound and declared, "I will notify them!"

"Hmm!"

Jerome Bonaparte nodded as he entered the carriage.

Bourbaski watched Jerome Bonaparte’s carriage depart until the convoy disappeared at the corner, then mounted his horse to deliver the notifications.

Bourbaski first arrived at the Ministry of Finance before proceeding to the Department of Public Transport and the Bank of France.

After notifying everyone, more than an hour had passed.

Returning from outside to the Tuileries Palace, he immediately reported the completion of the notification to Jerome Bonaparte.

"Hmm! Well done!" Jerome Bonaparte smiled as he addressed Bourbaski.

...

Time soon reached 3 pm.

Achille Ford, Barroso, and Bemini arrived at the Tuileries Palace.

Bashirio, responsible for welcoming the two ministers and one director, looked at the leather briefcases tucked under the arms of the three imperial dignitaries with a hint of surprise in his eyes.

"Gentlemen, please follow me!"

Under Bashirio’s guidance, the three walked through a series of magnificent arches, arriving at a room located toward the back on the second floor of the Tuileries Palace.

Looking outward through the corridor windows, one could clearly see the distant Louvre and the corridors connecting the Louvre to the Tuileries Palace.

"His Majesty is inside!"

Bashirio informed the three dignitaries while pushing open the closed door with his hand.

Jerome Bonaparte’s figure appeared in the eyes of the three ministers as Bashirio opened the door.

Seated by the fireplace reading a book, Jerome Bonaparte raised his head upon hearing the commotion at the door.

Upon discovering Achille Fuld and others at the door, he immediately put down his book and stood up to greet them.

Achille Fuld quickly approached Jerome Bonaparte, respectfully greeting him, "Your Majesty!"

Seeing Achille Fuld with the briefcases under their arms, Jerome Bonaparte revealed a comforting smile and jokingly remarked, "You’ve all come! Why bring so many bags here!

Let me remind you that I am quite picky, and I won’t accept anything that isn’t a valuable gift!"

Achille Fuld and others naturally caught Jerome Bonaparte’s jest, promptly responding, "Your Majesty, we assure you this gift, you will definitely accept!"

A hint of anticipation rose in Jerome Bonaparte’s heart, "I’m somewhat eager now to see what kind of gift you will present to me!"

Subsequently, Jerome Bonaparte arranged for Achille Fuld, Barroso, and Bemini to sit down.

The long-interrupted imperial economic (small) meeting officially began amidst laughter and joy.

As the Minister of Finance and the "big brother" of the trio, Achille Fuld was the first to speak without any hesitation.

Achille Fuld first handed over his organized financial documents for Jerome Bonaparte to review. After Jerome Bonaparte skimmed through them, Achille Fuld began to speak.

He first declared that the ups and downs of the Empire’s economy were not only due to the Empire itself but also inextricably linked to the global economic environment.

"That can be understood!" Jerome Bonaparte responded lightly.

After all, the scope of the 1857 economic crisis was so vast that even Jerome Bonaparte, despite his utmost efforts to shrink operations, could not avoid a certain level of impact.

Although this impact, compared to what the United States of America faced, was like a small raindrop, when such a raindrop of the times evenly falls on everyone, it is not just a simple raindrop but a stormy wave that could engulf a person. 𝐟𝐫𝕖𝗲𝘄𝚎𝗯𝕟𝐨𝕧𝐞𝚕.𝕔𝕠𝐦

Otherwise, Jerome Bonaparte would not have risked annexing Savoy and Nice last year (with help from Orsini, of course) to use the prestige from territorial expansion to suppress the opposition in the Empire once more and stabilize the French stock market.

"As of January 1859, our steel production capacity compared to 1856 has increased by 10% (915,000 tons), the financial market has grown by 20%, and the agricultural export market has returned to pre-crisis levels..." Achille Fuld first reported the progress on production capacity issues to Jerome Bonaparte, and then reported the tax revenue for the entire year of 1858, "As of December 1858, France’s annual revenue was approximately 2.306 billion, with expenditures at 2.213 billion... The total expenditure on public debt was 9.417 billion."

Jerome Bonaparte roughly compared the data from 1856 and 1857 in his mind before speaking, "Although this year’s fiscal revenue is less than the 2.693 billion francs in 1856, it is a marked improvement compared to 1857’s 2.179 billion!

However, the increase in public debt is indeed somewhat concerning!

I remember our public debt in 1857 was 9.032 billion, correct?"

"Yes, Your Majesty!" Achille Fuld nodded in agreement.

"Public debt increased by 400 million in just one year. Could this cause a certain extent of inflation?" Jerome Bonaparte asked Achille Fuld.

It is well known that when a government’s income, expenditure, and public bonds all increase simultaneously, it implies that the nation’s prices will also see a large-scale increase.

However, according to Jerome Bonaparte’s investigation in Paris a few days ago, the prices in Paris did not seem to be affected by inflation.

"Your Majesty, other provinces besides Paris have indeed been affected to some extent!" Achille Fuld admitted frankly to the inflation, "However, this impact will not last long!

As long as the global economy regains its vitality, inflation will quickly be resolved!"

Upon hearing Achille Fuld’s words, Jerome Bonaparte realized that he had transferred the inflation produced in Paris to be borne by the outer provinces, just as the economic crisis in the United States caused a crisis in the United Kingdom, which then cleverly passed it on to the European Continent.

Subsequently, Achille Fuld informed Jerome Bonaparte that most of the extra 400 million in French public bonds was spent on taking over certain branch railroads.

Since France’s railways adopt a public-private partnership approach, those of military and economic significance and profitability are all operated by the national (privileged) railway company.

While those unprofitable or even loss-making railways are handed over to the "private sector" for independent operation, the government only needs to issue a qualification certificate to the private railroads and conduct appropriate examinations.

Under the Imperial Government’s guidance, these "privately" burgeoning railway companies, under the guise of high interest rates and high returns, sold some otherwise neglected bonds to some powerful bankers. Then, the "patriotic" French bankers repackaged them for a second time and introduced them to foreign securities markets, with Frankfurt, London, and Berlin securities markets absorbing nearly 70%.

Private companies led to capital accumulation, bankers profited from the price differences, investors saw constantly rising ticket prices, and the government didn’t spend a cent to complete railroad construction.

If not for this economic crisis, it would be a situation where all four parties would have been delighted.

Because those secondary bonds released into the market might take about ten years to be exposed (except for some unscrupulous capitalists who declare bankruptcy after selling the bonds).

Unfortunately, the emergence of an economic crisis directly revealed the true nature of those pitiful substandard products.

The stock prices of private railroads plummeted, and most private railroad companies were brought down by the turmoil in the London and Frankfurt markets and the strikes by bankers.

Their already constructed railroads naturally were bought by the government at a nearly give-away price.

It’s equivalent to Achille Fuld buying branch railroads worth over 4 billion francs for the price of 400 million francs, with the only ones harmed being the retail investors deceived by high-profit railroad bonds.

"How do you plan to handle those railroads?" Jerome Bonaparte curiously asked Achille Fuld.

"Your Majesty, the government is unable to maintain the basic operations of those destined-to-lose-money railroads, so I hope to mortgage them to the banks once again!" Achille Fuld said to Jerome Bonaparte.

"Are the banks really willing to take over those railroads?" Jerome Bonaparte gazed scrutinizingly at the Governor of the Bank of France, Bemini.