**Chapter 19**
**Joint-Stock Company (2)**
A state-run farm near Mexico City.
As promised, I'm going to show them the performance of the mechanical reaper firsthand.
"Congressman Camacho, your influence is truly remarkable."
He had brought over 20 landowners.
"Haha, it's nothing special. I'm more eager to see the machine Your Highness mentioned."
He seemed quite excited.
Emilio was chosen to conduct this demonstration.
The technician who was making the machine at Estrada Steel would be demonstrating how to operate it.
I stayed with the landowners to observe their reactions.
Emilio began his presentation.
"Landowners, this machine here is designed to make harvesting crops like corn and wheat very easy and fast. Lately, tenant farmers are causing trouble, threatening to leave because of this gold rush, right? This machine will make those bastards unnecessary! I'll show you now."
As Emilio finished speaking, the technician started the horse.
The horse began to move towards the cornfield, and the large machine moved slowly.
The sharp blades attached to the mechanical reaper moved quickly, instantly cutting down the corn stalks.
A murmur of admiration arose from the landowners.
"Oh."
"The corn stalks are being cut down in an instant."
The cut corn stalks piled up on the machine's wide platform. As the horse moved about 30 meters, the corn stalks piled up considerably, and the technician who had been following the mechanical reaper quickly tied the corn stalks into rows and dropped them to the ground.
Emilio explained the scene.
"You tie them up like that, leave them on the ground for a while, and then collect them all at once later."
The platform, instantly emptied, was again piled high with corn stalks, and the process of tying them up and throwing them down repeated.
"One worker can harvest an entire field of this size."
"And it's incredibly fast. It seems like it will be finished in half a day."
Even though the landowners didn't directly manage their farms, anyone with eyes could see the efficiency of this machine.
The landowners' reactions were quite positive. Emilio didn't miss the opportunity and said,
"With this machine, one person can do the work of five. The price of this amazing machine is only 200 pesos! And for those present today, we'll give you an additional 10% discount, making it 180 pesos per unit!"
200 pesos was a huge sum, equivalent to ten months' wages for a common worker, but it was pocket change for the landowners present.
"It's definitely worth it. It's not like I can reduce my workforce from five to four because I only hire them during harvest season, but even reducing it from five to three will quickly make back the cost and then some."
The production cost of the reaper was about 120 pesos. I could sell it for much more than 200 pesos since there was no competition, but my goal was to spread it across Mexico as quickly as possible.
"If early customers hear stories about how useful this is, they'll think it's worth investing about 200 pesos to try it out."
As I waited, people started saying they would buy it, as I expected.
"I'll order 30."
"Thank you for your first order, sir. We'll deliver it to you first."
"I'll take 50!"
"I'll order just 20."
Large orders began to pour in from landowners who owned several large farms.
"How do you feel about the machine's performance, Congressman?"
"It was amazing. It's not an exaggeration at all to say that one person can do the work of five."
"Then, I guess this is enough compensation for what I asked you to do before?"
"I'll get right on it."
***
A week later, Congressman Camacho introduced a law on joint-stock companies and stock exchanges to the parliament.
It passed smoothly without opposition from both the Republicans and the Conservatives.
As soon as the law passed, I went to the administration to register a joint-stock company, but there was a problem.
"Joint-stock company? What's that?"
"Oh."
"It's just been passed, so they wouldn't know."
The government officials didn't know about the joint-stock company and stock exchange systems.
I couldn't just bully them into doing something they didn't even know about.
"I'll help you, so let's take it step by step."
It's unfortunate for the officials who suddenly found themselves working with the Crown Prince, but there's nothing I can do about it. I helped them create the joint-stock company and stock exchange systems, explaining everything from scratch.
"I think we can start the joint-stock company registration process now. The stock exchange will require a physical location and building, so let's prepare for that step by step."
"Yes, Your Highness."
Seven files obtained after two months of unpaid work. These files contain the first to seventh joint-stock companies of the Mexican Empire.
These files contain various documents and stock certificates for the seven companies.
It took longer than I expected to write down that I would officially give them shares in the management. But both joint-stock companies and stock exchanges are essential systems for the economic development of the Mexican Empire.
"It's a win-win situation. I'm creating a necessary system and giving them compensation."
***
I called all the agents to the palace, except for the two in California.
"Agents, you've all worked hard over the past four years. The reason I gathered you all here today, despite your busy schedules, is to express my gratitude for your hard work."
I stood in front of Emilio. He was looking at me with expectant eyes. I handed him a file and said,
"Emilio, you've worked hard, and I'm counting on you in the future."
Emilio rummaged through the files in the folder and asked.
"Your Highness, may I ask what these documents are?"
"It's called stock. You can think of it as a kind of certificate that represents ownership of a company or business. This certificate proves that you own a part of that ownership. Do you see the number 100 written here? This document represents a certificate for 100 shares."
"Ten certificates for 100 shares each. That means a total of 1000 shares."
"Yes. You will have 1,000 shares out of a total of 10,000 shares in this company. That's 10%. Look here."
I pointed to where it said "Estrada Aceros."
Emilio looked at me with surprised eyes.
"Your Highness, this... You registered the company name after my surname?"
I nodded with a smile.
"Yes. It's a company that handles everything from iron mine acquisition to steelmaking, but the company name is simply "steel," the final product. Right now, we're making farm equipment and mining equipment, but I plan to separate those later and focus solely on steel."
Tears welled up in Emilio's eyes.
"···I never dreamed I'd be honored like this in my life. Thank you! I will work with my life on the line!"
He managed to answer and I patted his shoulder as he cried.
"I'm counting on you in the future. But don't overdo it. I need you for a long time."
Next, I handed Ramon a file and stock certificate.
Ramon, having seen Emilio's case earlier, immediately checked the company name.
"Ramon... You used my name as it is."
"Yes. Right now, it's a company that sells jeans and tents, but I named it simply because I want you to grow it into the best clothing brand someday."
Ramon looked into my eyes and answered with determination.
"I will make it the best clothing brand in the world."
Ramon Alvarado.
He was a carpenter, but he had a sense of design. He paid attention to the exterior and interior of buildings, something most people didn't care about, and even when wearing the same shabby work clothes, he wore them with style.
"Yes. I believe it's possible with your sense."
Next, Alfonso Rios.
I handed Alfonso documents and stock certificates with company information.
He muttered the company name written on the document.
"Rios Express..."
"···"
He carefully read the documents for a while, then said,
"Thank you, Your Highness."
"Ahem... Are you curious about the company name?"
"No. I understood as soon as I saw it."
I named the logistics, passenger, and financial company that Alfonso runs "Rios Express," taking it from American Express in the United States, which became a global financial company after starting with logistics and transportation, similar to Wells Fargo.
"···Is that so? You've been aggressively expanding your business lately, you're doing well."
"Yes, we're about to start the financial services you mentioned."
"I see. I'm counting on you in the future."
His company is achieving the highest sales among my businesses. The others are doing well too, but Alfonso is expanding his business at a faster pace.
"Thank you. I'll do my best."
Next is the construction company that Andrés Ortega will run.
"Carpenter Andrés, it's been a while."
"I slightly regretted not following Your Highness before, but thank you for giving me another opportunity."
Andrés Ortega was the person I chose as carpenter foreman during the construction of the Sacramento pioneer village. He was leading the construction of the pioneer village, so he couldn't come to Mexico City with me, but he has finally joined us.
"Here are the company documents and stock certificates."
"Ortega Construcción. I haven't done anything yet, and you're giving me this kind of benefit. It's unfair, Your Highness."
"Haha, even though you're the one receiving it, you're still complaining about fairness. That's so like you, Carpenter Andrés. Then, you just have to work harder in the future, don't you think?"
He tried to return the documents to me, but he had no choice but to accept them when I insisted.
"···I'll do my best."
"And here, give these to Hernando and Isidro, who are working hard in California."
"Yes, Your Highness."
I handed him the documents for the other two companies and continued.
"As you know, the two of them have similar businesses. The only difference is the location, Sacramento and San Francisco, but they do the same things: gold mining, food service, and lodging. And they were also building houses and shops in the pioneer village. The construction part of both of them is separated and that's your Ortega Construcción."
"Yes, I understand."
Hernando Mora and Isidro Solis' companies were making good money as intended, but I decided that it would be better for them to have clear identities for the future.
"I've decided to give Hernando the mining company, Compaa Minera Mora, which is currently only mining gold. I'm going to give Isidro food service and lodging, and the company name is Solis. The reason we're splitting it into three companies is because it's better for each company to have a clear identity. Explain this well to them."
Compaa Minera Mora is currently only mining gold, but I plan to grow it into a company that handles all kinds of resources except iron in the future.
"I'll add a hotel to Solis later."
"Alfonso, please take special care to ensure that Andrés arrives safely in California."
"Yes, I will double the security for that stagecoach."
Finally, Eduardo.
Eduardo didn't cry or anything because I had already told him that I would give him this kind of reward. But he still expressed his gratitude sincerely.
"I will make Industria de Defensa Vega, which Your Highness has entrusted to me, the best defense company in the world."
"Yes. I'm counting on you. Please prepare cannon production quickly."
"Yes."
After handing out stock certificates to everyone, I said,
"You have to take good care of these certificates. If someone steals them, they keep them. Even if you report it stolen, there's no way to prove it."
That's how it really was at this time. That's why, even in America, well-known businessmen often hired gangs to fight gun battles to steal each other's stock certificates or forged them.
In this era, where documents had to be handwritten, it was a piece of cake to bribe officials and alter the books.
Of course, I didn't create a system as loose as the United States in the mid-19th century. So, it's not really possible for someone to steal a stock certificate and claim ownership, but it was necessary to warn them firmly.
"Yes!"
"Now I can finally relax."
Loyalty and patriotism must be rewarded. That's my belief. I saw the managers off and even gave them a send-off.
I was satisfied, and I was about to return to my office to calmly prepare for the next plan, but Diego, my aide, said,
"Your Highness, Your Majesty urgently requests your presence."
"What? What's going on?"
"He said it was something related to Spain."
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