Chapter 010: Getting Started

Therefore, this money is still in the bank's fixed-term savings.

British products flood the American market, undermining the United States' own manufacturing industry

Under the control of the Democratic Party, which has consistently been based in the South, the United States government has continually lowered import tariffs to ensure the interests of Southern plantations and to allow Southern agricultural products to enter Europe at low taxes, in exchange for European countries opening their markets to American agricultural products

However, Schott, I did not anticipate that you would grow so quickly

At this time, American industry was still far from being able to compete with Europe, especially with Britain.

His mother, Aleza, gently took off his leather shoes and covered him with a blanket

Thank you, sir!" Rockefeller said, shaking Tuttle's hand, slightly excited, "I will work hard to prove that you did not make a mistake in choosing me.

Aileza smiled gently, walked over softly, and once again helped her son cover himself with the blanket

Then, as she walked out of his room, just as she was stepping through the door, she heard John D. Rockefeller sneeze, then turn over, toss the covers aside, and mumble something indistinctly.

In that year, American agriculture also faced misfortune, as the unprecedented bumper harvest of American wheat coincided with a historic bumper harvest of Russian wheat. As a result, the competition from Russian wheat caused a significant drop in the price of American wheat, leading to the bankruptcy of numerous grain enterprises.

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Seize this opportunity to short-sell grain, and you will be able to make a substantial profit

Against the backdrop of current prosperity, saying this would absolutely be met with disbelief by anyone

This sum of money cannot be accessed for another two years

Moreover, the company where Rockefeller is currently employed is also engaged in the grain trade. Over the past two years, he has become very familiar with the grain market, and partnering with someone like him for a venture is undoubtedly a wise decision

John, we can only offer you a weekly salary of 5 dollars at this time. After all, you know that you are still a newcomer, and receiving too much at once may raise concerns among the other employees

In two years, it will be 1857. In his previous life, when Scott was studying at university, he had followed the trend and obtained a double degree in economics. During his elective course on economic history, he learned that in 1857, the first global economic crisis erupted, and this crisis was also the first to originate from the United States, rather than from the then world leader, Britain.

In fact, Rockefeller's entrepreneurial endeavors began even later, in 1858

However, this major trend is sufficient to help Scott make a profit

Thus, Schrodinger hurriedly asked:

However, if your work performance is satisfactory thereafter, we will also consider increasing your salary," Tuttle continued.

Dad, I would like to know when this money will mature.

In the year 1857 alone, nearly 5,000 enterprises went bankrupt, there was an overproduction of grain, and both grain prices and exports declined. Additionally, the fierce competition from British industrial goods exacerbated the economic crisis in the United States, which in turn impacted the development of the British economy. The bankruptcy of banks, railroads, and commercial companies that had been exporting capital from Britain to the United States also led to a sharp devaluation of the securities held by British investors

Thus, now, the exhausted Rockefeller hastily finished his dinner and collapsed onto the bed, barely having time to take off his shoes before falling asleep—before planning to suck the blood of others, the first thing a future great vampire must learn is to suck his own blood

Europe has certainly opened its doors to American agricultural products, but the market for American industrial goods is equally open to Europe

Economics was not, after all, the primary focus of Mr. Schott's previous career, so he only vaguely remembers these general concepts, while he is completely unaware of the details

Therefore, although theoretically the flourishing development of the American railway industry should have stimulated significant growth in its metallurgy sector, the actual situation during this period was that the production of pig iron in the United States remained stagnant for a long time, and the growth rate of the cotton textile industry was also very slow. Meanwhile, imports of rails, pig iron, locomotives, cotton cloth, and other industrial products from Britain increased rapidly.

Today, throughout the day, he completed the accounts and was tasked with discussing the rental of a vessel with a client. After finishing his duties, being naturally frugal, he could not bring himself to take a public carriage and instead walked through the entire city back home

After pondering for a moment, Shi Gaozhi said

Generally speaking, before the onset of an economic crisis, there is often a period of economic frenzy. The economic crisis of 1857 was no exception; during the preceding period, a substantial amount of European hot money flooded into the American railway industry, leading to a frenzied and chaotic development of railways in the United States. The mileage of railways constructed even surpassed the total mileage of all other countries in the world during the same period

Ultimately, a global bumper harvest will drive prices down to a level that people had previously never imagined

If it is taken out now, there will not be so much left

What is it? Can't you wait? Old Joseph smiled and said, "My son, having lofty ambitions is good, but you still need to be practical. Let's work together for a couple of years first, and then we can talk about it. It won't delay you."

You can also take these two years to familiarize yourself with how to conduct business. Starting tomorrow, you will follow me and take charge of the accounts first.

"You seem to be thinking quite far ahead," Joseph said. "Well, let me tell you, this money is due in January"

In 1851, a few years ago, the world's first grain futures market emerged in Chicago. Due to the strong grain prices in the preceding years, the prices of grain futures were once driven very high.

The sharp contraction of the American market has dealt a significant blow to British companies that rely on the American market for their survival

Joseph's money cannot be withdrawn until the year 1857, which is not particularly good news

Shigaozhi understands that short selling in futures is a highly risky endeavor, which is not without an element of luck. Even with a clear understanding of the market trend, luck remains an indispensable factor in successfully making a profit.

"Corolla, you should learn as well, after all, this shop will ultimately belong to you," said Old Joseph.

"Sir, are you saying that you intend to terminate the probationary period early and hire me?" In Tuttle's office, John D. Rockefeller was striving to suppress the joy within him, speaking to Tuttle in the calmest tone possible

Although your work is far from perfect, as a novice, your performance is commendable

Therefore, he must change his wording

Yes, Mr. Rockefeller, we have been paying attention to your work over the past month, and we have all taken note of it

It seems that Rockefeller started out in the grain trade, right? By 1857, he should have had some savings, and at that time, I could definitely partner with him for a venture.

We have high hopes for your future and hope that in the days to come, we can have a pleasant cooperation. Tuttle extended his hand towards Rockefeller

With the outbreak of the crisis, numerous banks, financial companies, and industrial enterprises in the United States collapsed

At this time, John Rockefeller was unaware that Scorch was plotting against him; after a long day of work and play, he was as tired as a dog.

In this crisis, 62 out of the 63 banks in New York experienced payment suspensions, with the discount rate exceeding 60 percent

As the future wealthiest individual in the United States and even the world, Rockefeller's fortune must undoubtedly be substantial

Expiration in January? Schrodinger let out a sigh. Although he could not clearly remember in which month the economic crisis of 1857 erupted, he vaguely recalled that the issues within the financial system were not ignited until the autumn of that year. As for the cessation of payments by banks and the onset of mass bankruptcies, that would not occur until October.

Dad, I just want to know this time so that I can make arrangements in advance

ultimately led to the outbreak of the crisis

Not to mention, the grain of the year 1857 presents a very good opportunity for profit

However, what Scott is most concerned about now is the issue of the safety of deposits. Therefore, he still needs to ask for clarification. However, he cannot directly tell his father that a global economic crisis will occur in 1857, causing many banks to fail.

First, work with old Joseph for two years; starting a business after 1857 is not too late. Catching the money train of the Civil War will definitely not be a problem

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