The United States has never been a centralized country, and the federal government has always been less binding on the states, and after the Civil War, the federal government tried to take back some of its rights, but even the northern states that originally supported the federal government opposed it, so it was not enough.

Under normal circumstances, it is not easy for the federal government to implement the decree smoothly, if there is a strong president, it is better, even if the states are disobedient, they will always get by, but if the president is not so strong, then the end is more miserable, Hayes is a good example.

Arthur is not a strong president, he is not a strong person in the first place, more like a businessman than like a politician, it is unreliable to expect Arthur to use a tough attitude to force the states to rectify transportation, and a sentence of no money can knock Arthur to the ground, so this matter has to be considered in the long run, and it is always necessary to let everyone realize the benefits of building roads.

There are definitely benefits, not to mention the benefits of building roads for economic development, building roads itself is a fat gap, as long as it takes a little effort, there are not too many opportunities to get oil and water, local state governments may deliberately oppose the federal government, but state government officials will certainly not go against their own wallets.

"The Bank of America will fully support the local government to build roads, as long as the local government needs loans, the Bank of America will go all out to cooperate, of course, if the local government is not willing to invest, it doesn't matter, the Bank of America can issue bonds for the construction of roads, and after the completion of the road construction, and then use the profits to repay the bonds, which is beneficial to the state governments, as long as the state governments are willing to stand for the Bank of America." Li Mu's conditions were very generous, although Arthur agreed to Li Mu's request, but there was still James Bryan to pass.

After the assassination of James Garfield, he became the saddest president in American history, but if you talk about the degree of tragedy, James Garfield is definitely not as good as James Bryan.

In 1869, James Bryan became President of the House of Representatives, which became the highlight of James Bryan's political career.

After that, James Bryan wanted to go further, but unfortunately James Bryan was hit one after another, first in 1876, James Bryan lost to Hayes in the Republican Party election, and then in last year's party candidate, James Bryan lost to James Garfield, and in 1884, James Bryan finally became the Republican candidate, but lost to Grover Cleveland of the Democratic Party in the general election, and then James Bryan also lost to Benjamin Brown. Harrison.

James Bryan is a person who can be described as "repeated defeats and battles", he is indomitable, but he has never succeeded, five years ago was James Bryan's closest to success, but unfortunately Hayes had Li Mu's help at that time, so it was not easy to convince James Bryan, even Li Mu was not sure, James Bryan would hold a grudge.

"Later profits? What does that mean? James Bryan didn't quite understand Li Mu's description, there was no toll station on the highway in those years, so naturally there was no service area, and there were no various fuel taxes and compulsory traffic insurance, James Bryan didn't understand how Li Mu wanted to make a profit through the road.

Speaking of which, this is another bad taste of Li Mu's, in the 21 st century, many people put the American highway without toll on the edge, probably they don't know that those roads in the United States were built several decades ago, when they were built, the American people had already paid for the construction of the highway once, and the US government did not need to use the profit to repay the loan, so naturally there was no need to charge.

At that time, the republic was not good, everyone knew that when the slogan "if you want to get rich, build roads first", the governments at all levels of the republic were poor and white, if they simply relied on the primitive accumulation of capital, then maybe they would have to wait ten or twenty years to build the road network across the country, but the republic did not have so much time to waste, so loans became an inevitable choice, which is also a special national condition.

The United States in the nineteenth century was also a special national situation, during this period of the United States at all levels of government did not have money, so if you want to build roads, loans have become the only way, Li Mu said that the Bank of America is willing to invest, referring to the Bank of America can issue bonds instead of local governments, and in the end it is actually the local governments and the people who use those highways to pay.

"The Bank of America is not providing loans free of charge, and the local government is not going to borrow money to develop transportation, after the highway is built, if you want to use the road, then it is natural to pay a certain fee, we only charge for cars, and it will not increase the burden on everyone, which is good for everyone, the construction of roads requires land acquisition, which will increase government revenue, developed transportation will stimulate consumption upgrades, people will use developed transportation to live a rich life, and governments at all levels will also increase taxes. Those who buy bonds also get the profit they deserve, which is good for all. "Li Mu's grandiose entrainment of private goods, if the duke is selfless, it is abnormal.

If you don't want to pay, it's very simple, don't take the highway on the line, while you want to enjoy the convenient service, and want to enjoy the cheap, preferably free, there has never been such a thing in the world, the result of free everyone knows, that is, no one is willing to build the highway at all, even if it is the people's government, because the government has no money, and you can't afford to repair it, so most of the people who complain that the highway has to pay are not even cars, They just whine for the sake of whining.

In fact, if you take 10,000 steps back, people who can really afford to buy a car these days don't care about the cost at all, and those who care about this cost rarely drive a car even if they have it, because the price of gasoline is not cheap.

Charging fees is much simpler in the United States, capitalists are never philanthropists, and when they go to restaurants to eat, they have to tip the waiters who provide services, and the truly wise people will not put their minds on these needles and threads, and it is better to complain and find ways to earn more than anything else.

"That sounds good, but how can you be sure that the charge won't be objectionable to everyone? Sorry Ream, we have been criticized so much as the Republican Party over the years that we have to be cautious. James Bryan was businesslike, and in order to sound more reasonable, he also took the initiative to explain.

"Why oppose it? The government got the money for land requisition, and it can be used to develop the national economy and people's livelihood, those rich people who have bought cars, now the biggest headache is because of the bad traffic conditions, so that their cars can not play a real role, as for those who do not have cars, they have no reason to object, the road only charges for cars, they don't spend a penny, but they can also use the road, I can't think of a reason for their opposition, as for those who buy bonds, sorry, I don't want to belittle anyone, but I think, take the money to buy bonds, it's better than taking it to buy stocks. Li Mu casually ridiculed the U.S. stock market, the economic crisis has passed, but the U.S. stock market has not rebounded, and many people's money has become worthless stocks, and they can't see the future at all, which is worse than the shareholders of the Republic in the 21st century.

Sometimes people are so strange, all stock exchanges tell people that "the stock market is risky, you need to be cautious when entering the market", many people just don't care, they don't even understand the basic knowledge of stocks, they throw their hard-earned money into the stock market to try their luck, probably they think they are the masters, they can get out smoothly before the inflection point comes, and the dealers will let them recognize the reality.

After two general elections, as long as people who still have illusions in politics, they have already recognized the fact that it is not wise to offend Li Mu, James Bryan still wants to fight in the future, and it is necessary to have a good relationship with Li Mu.

Politicians, there are no eternal friends, there are no eternal enemies, some are just eternal votes, as long as Li Mu controls "Time Magazine", it is equivalent to controlling the votes, James Bryan and Li Mu were not friends before, the future is not necessarily, Hayes is disgraced, Arthur has no intention of politics, and there is no successor to the Republican Party, even if it is a turn, it is almost James Bryan's turn.

After leaving Washington and returning to New York, the first thing Li Mu did was to sell bonds.

If you want to sell bonds in New York, it's easy to find J· P. Morgan is enough, J. M P. Morgan can even underwrite national bonds, and the Bank of America is not a problem, although in terms of size, it is possible that the Bank of America will issue more bonds than the national level.

This is not possible, it is certain, a few years ago, in order to repay the reparations, France only sold 50 million US dollars in bonds, and the Bank of America must have issued much more bonds than 50 million US dollars, Li Mu did not limit his eyes to New York or New England this time, but the whole United States, and the funds needed must be astronomical, otherwise Li Mu would have paid for it himself.

"I can't give you an exact number right now, because I'm not sure how big the bonds will be this time, it depends on the determination of all levels of government, and personally, the road I want to build the most is from New York to San Francisco." Li Mu didn't dare to tell the truth, for fear of scaring J· P. Morgan, just a simple plan, let J. Morgan · P. Morgan began to gasp.

Between New York and San Francisco, about 4,500 kilometers, J· P. Morgan didn't know how much it would cost to build such a long road, which was certainly beyond his personal domain.

In fact, money is not the main problem, the main problem is the coordination of the relationship between the states along the way, the highway is different from the sea, to pass through the states along the way, you must always come up with the interests that the states along the way are satisfied, otherwise why should people cooperate with you? Don't talk about the national economy and people's livelihood, like Texas, they want the federal government to shut down.

Since the United States built the first highway in California in 1937, by 1997, the country has built a total of 89,203 kilometers of highways, Li Mu does not have such a big ideal, even if Li Mu is bankrupt can not afford to repair, Li Mu hopes to build the highway between New York and San Francisco, is hoping to play an exemplary role, as long as the highway is proven to be worth the money, then there is no need for Li Mu to promote, the whole country will work hard, then Li Mu will sit and wait to collect money.

"There is a railroad between New York and San Francisco, do you still need to build a road?" J· P. Morgan asked a more amateurish question, which is actually normal, one of the funniest rumors about Bill Gates is that Bill Gates said in 1981 that "640K memory is enough for anyone" and something like that, although Bill Gates later clarified that this is enough to show the limitations of the elite era.

There is indeed a railroad between New York and San Francisco, and the most dangerous section of it was built by the Chinese, but this does not mean that there is no road if there is a railway. P. Morgan's words make people in the 21st century look like a joke, but it is normal in this era, cars in this year are still luxury accessories, Li Mu is far less great than Henry Ford in this regard, Henry Ford wants to build a car that everyone can afford, Li Mu only wants to meet some of the needs, wants to meet more, and there are no conditions in this year.

"Of course, if I could, I'd rather drive to San Francisco by myself than take the train, think about it, if I drove to San Francisco by myself, then I could stop at any time, and the train wouldn't stop for the beautiful scenery along the way, with convenient transportation, rushing becomes a trip, and work becomes lovely." Li Mu began to flicker, J· P. Morgan is actually a romantic person in his bones, if it were to Rockefeller, Li Mucai would not say such things.

In fact, Li Mu said this kind of thing is very sad, although the Vanderbilt family has been destroyed, but Li Mu still has a special train to go out now, if it is a short-term stop, it is not completely impossible.

On the contrary, the stability of the car in this year is not very good, in fact, there is still a problem, if there is nothing in the city, if you want to leave the city to travel far, then the road breakdown is still very fatal.

Of course, there is no need to ask J· P. Morgan, J. M It's not that P. Morgan doesn't want to help Li Mu sell bonds. P. Morgan is only assessing how big the risk really is, and as a professional investor, J. Morgan is only assessing the level of risk. Some of the bonds underwritten by P. Morgan must have been bought by himself, and Li Mu had also bought them before.

"Sounds good, let's try it first." J· It is rare for P. Morgan to follow Li Mu crazy, the distance between New York and San Francisco is very long, but as long as it is repaired slowly, there will always be a day when the highway will be built, and it will not be more difficult than building the railway twenty years ago, at least, the railway can be used to transport materials and manpower now, and there were no such conditions twenty years ago.

As long as you are willing to try, there is no shortage of crazy people in the market, even if the Americans don't buy it, there are a lot of European bigwigs waving money looking for investment opportunities, and that's how the Pacific Railroad was built.

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