novelSusiti Chapter 141 Picking Peaches and Math Problems
Chapter 141 Picking Peaches and Math Problems
Chapter 141 Picking Peaches and Math Problems (Happy Chinese New Year!)
That's right!
Southern Development Company is actually a British Royal Charter company!
However, its franchise rights were nothing like the comprehensive authorization granted to the East India Company, which allowed it to directly establish an army and a government. It was simply a commercial colonial company model common in European countries.
In the company charter, George III permitted the company to build plantations and towns in the western territories of North America, and stipulated that no more than three thousand immigrants and laborers could be brought in each year to avoid triggering an Indian War.
Other conditions, such as purchasing land from the royal family at an extremely low price, a ten-year tax exemption, having the company's board of directors act as the administrative and judicial authority over the territory, and recruiting a certain number of mercenaries, are nothing special and are basic conditions that all colonial companies have.
However, George III did not grant the Southern Development Company the most crucial rights: monopoly on trade, exclusive development rights, taxation rights, and the right to declare war and make peace.
The stated reason was that these authorizations required parliamentary approval, but in reality, once the Southern Development Company possessed these rights, it would truly become the East India Company of North America, something the British Royal Family and Cabinet could never do.
Chen Wenbin was able to secure the charter because the charter granted to the Southern Company by King George III was only valid for fifteen years and required renewal upon expiration.
Let's guess what will happen when the charter expires, and Mr. Chen has laid a solid foundation for the western towns and cotton plantations, and is likely to be making stable profits. Will London simply revoke the charter and send someone to take over the mature harvest?
Given Great Britain's consistent style, it's obvious this was inevitable!
Troublemakers, reapers, and dirty tricksters—we, Great Britain, are professionals at it!
Of course, while they waited to reap the rewards, Boss Chen could also do math problems, such as 1764 + 15 = 1779.
1779 was a great year!
It's just a question of whether British rule in North America could last until 1783.
Governor Hutchinson and Colonel Quincy had only heard that the Southern Development Company was a colonial company, but they did not know the specifics of its charter, since the charter of the Southern Development Company officially came into effect along with Governor Chen Wenbin's appointment.
Now that they hear they can bypass the restrictions of Act 1763 and legally immigrate to the West, they immediately become interested!
Colonel John Quincy preemptively asked, "Robin! You really got the King's charter to emigrate westward? Is there a limit?"
He did not participate in land speculation in Ohio, but he was also very interested in land in the West, and if he could obtain a legal immigration channel, he could participate directly.
After all, he was different from those penniless poor people who broke the ban to go west; he was a respectable colonel and senator, and it was not appropriate for him to openly defy the king's decree.
Chen Wenbin spread his hands and said, "Unfortunately, the concession stipulates that the Southern Development Company can only bring in 3,000 immigrants to the west each year."
The king worried that too many people would lead to a new war with the Native American tribes, increasing military spending, so—”
"That's such a pity!"
The old colonel looked disappointed, then remembered two crucial questions: "What about the company's land prices? Is there a cap on the amount of western land each immigrant can own?"
Governor Hutchinson also stared intently at Chen Wenbin. He was the governor appointed by the king and was also prohibited from participating in land speculation in the west. But if he could bypass this restriction through the Southern Development Company, who would complain about having too many pounds?
Seeing this, Chen Wenbin knew they were interested, so he smiled slightly and said, "For every acre of wasteland the company acquires in the west, it needs to pay London a land registration fee of 6 pence."
As for the company transferring land to individual immigrants, the price is uniformly calculated at five shillings per acre, with a minimum sale of fifteen acres and an individual's maximum ownership of one hundred and twenty acres of land. If the land is not developed within one year, the company will reclaim it without compensation.
So, Colonel, Your Excellency Governor, are you interested in making a land investment in the West?
For just £30, you can own a 120-acre farm and ranch in the west, with recognition and protection from London and the company.
Also, I'd like to share some news with you. When I left London, Westminster Palace was discussing deploying at least 10,000 British soldiers to key outposts in the Appalachian Mountains to prevent people from the eastern colonies from continuing to illegally intrude into the west. The military expenses would be borne by the North American colonies.
I have no reason to lie to you. This matter should be finalized next year, and of course, you probably already know about it.
Colonel Quincy was clearly unaware of this. He immediately looked in shock at Governor Hutchinson on his right, who, as the deputy governor of the main North American colony, had already received a warning from London. He sighed and explained to the old colonel, "In the past two years, the number of people who have crossed from the eastern North American colonies into the west must have exceeded ten thousand!"
If this is not stopped, the authority of the law will become a laughing stock.
"But we can't send in the army to stop them!" Colonel Quincy exclaimed worriedly. "My God! John Hancock and those Virginia plantation owners are really going to go crazy!"
Upon hearing a familiar name, Chen Wenbin feigned ignorance and asked, "John Hancock? Is he Thomas Hancock's nephew? What happened to him?"
Governor Hutchinson immediately retorted angrily, "That bastard is a madman! After inheriting most of old Thomas's fortune, he's already the richest man in North America, but to avoid paying taxes, he openly engages in smuggling and incites the public to boycott the sugar tax law!"
Colonel Quincy explained to Chen Wenbin: "The Hancock family is in the rum business. They used to only have to pay two thousand pounds in taxes every year, but after the sugar tax law was implemented, their family had to pay more than thirty thousand pounds in taxes!"
So he frantically organized merchant ships to smuggle molasses from the Caribbean—but some people in Massachusetts also believed the sugar tax law was unfair, which won him a lot of support.
Chen Wenbin immediately understood. Taxes had increased more than tenfold; even he would go crazy in that situation. Moreover, judging from Governor Hutchinson's reaction, this richest man in North America wielded considerable power, and even the governor was helpless against him.
However, he didn't have much of a relationship with John Hancock. He had only treated his uncle Thomas Hancock's illness and received some investment from him. But after Thomas Hancock's old illness relapsed and he passed away in July of this year, the relationship between the two sides faded.
After all, the Hancock family didn't make much money from their investment in PUIC. The London textile company is now controlled by London businessmen, and some small shareholders in North America have sold their shares to London businessmen. Some people have written letters accusing him of betraying shareholder interests, and a few of them have used rather harsh and impolite language.
So after returning to North America this time, he plans to gather these North American shareholders of PUIC and buy back their shares at the original price, or exchange them for shares of Southern Development Corporation.
This is a necessary step to maintain credibility; otherwise, alienating these New England powerhouses and local tycoons would make future cooperation difficult.
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