The Shadow of Great Britain-Chapter 705 - 340 Underwriters of Government Bonds_2

And because of his good relationship with the then Prime Minister, William Pitt the Younger, he secured a management position at the East India Company for his family. Riding on the Prime Minister’s support, Barings Bank began to expand its business network significantly.

However, just like all boring family ascendance stories, after getting the money, everyone naturally yearns for political power too.

Unlike the repeatedly frustrated Rothschilds, Barings, not having the burden of being Jewish, only needed to solve the issue of money.

And the gentleman in front of Arthur, Mr. Francis Baring, was the Barings Family’s most significant achievement in the political field. The price they paid for this seat in Parliament, aside from some everyday social interactions, was merely a negligible three thousand pounds.

In Arthur’s opinion, that price was indeed quite cheap, nearly comparable to Disraeli’s.

And he finally understood why Disraeli was so anxious for him to meet with Barings.

If he secured the Barings Family, the largest underwriters of British Public Debt, then it was as if he had already successfully negotiated half the deal.

Moreover, Arthur felt that Barings had no reason to obstruct the issue of the public debt; after all, as underwriters, the more they issued, the more they earned, right?

Of course, everything had a precondition, that the amount issued wouldn’t make the British Government unable to repay. freeweɓnovel.cѳm

The group casually found a corner to sit down, and Arthur, removing his hat, feigned a relaxed smile and asked,

"Benjamin, you called me here so urgently, I thought there was some formal meeting with the Central Health Committee and the Public Works Committee? So it’s just an informal chat among friends?"

Upon hearing this, Disraeli corrected him, "Arthur, haven’t you heard the saying? Big meetings are for small issues, small meetings for big issues. Real decisions are made behind closed doors. If you only find out when it’s public, it’s already too late. Surface-level actions are just a formality."

Barings took out his pocket watch for a glance, "Haven’t Russell and Dr. Barry arrived yet? Without them, it might be tough to get the Health Committee’s affairs in order."

Hearing this, Arthur’s gaze suddenly shifted to Disraeli, and quickly, he saw Disraeli give a subtle nod.

In response to his gesture, Arthur only offered a smile.

He had understood; it seemed that Barings was no longer an issue. The real problem was the latest report from the Health Committee.

Sure enough, just as Barings was tucking his pocket watch away, he started speaking.

"To put it plainly, Mr. Hasting. Personally, I have always supported the renovation of the nation’s major cities, not just Liverpool, Manchester, Birmingham, Newcastle, and also London should be included.

In recent years, with the rapid expansion of urban scale and the influx of large populations, the level of urban filth has been increasing exponentially. Those narrow, dirty alleys not only become breeding grounds for disease but also cause many troubles in law enforcement for officers like yourself.

Ever since I became the chairman of the committee, I have been reviewing past work reports. The reports submitted by what is now known as the London Police Intelligence Bureau, previously the survey and statistics bureau under your jurisdiction, are very forward-thinking.

According to the statistical data you submitted, the rate of violent crimes and incidents of assaulting police officers in the narrow alleys are far higher than normal areas. If we can resolve this issue, it would undoubtedly help reduce the loss of public property due to crime.

However, at that time, the renovation initiative I proposed was rejected by the House of Commons due to its high cost. The MPs thought that the cost of transforming urban areas far exceeded that of hiring a few more police officers. But now, the situation has clearly changed.

Urban renovation is no longer just about lowering the crime rate; it’s also a necessary measure to effectively prevent cholera outbreaks. You might laugh at this, but judging by the Central Health Committee’s reports, the Government’s plan to stop cholera at the English Channel via customs quarantine according to the 1825 Quarantine Act has essentially gone bankrupt."

Although Arthur had previously guessed as much, hearing the news of bankruptcy from Barings still struck him as quite comical.

After all, Parliament’s stringent quarantine control had only been in place for a little over a month, and if they were to surrender to the unstemmed decline in trade volume, this was rather too quick.

Arthur asked, "Are you saying that the quarantine control is going to be lifted?"

"Not exactly. After all, there are disagreements within the Government and Parliament, so the quarantine measures will likely continue, but the standards will definitely be significantly reduced."

Disraeli added, "The harmful effects of cholera cannot be underestimated, but most MPs think, at least we’re not dead yet, and we shouldn’t need to amputate. Besides, the social outcry against cholera control is genuinely fierce; if we continue like this, with the loss in tax revenue and a large increase in public health spending, my God, this year’s fiscal deficit will skyrocket."

Arthur stirred his coffee with a spoon, more concerned with how to implement the measures than with the grandiose talk of the MPs.

"So, to what extent will the control be relaxed?"