“All right.
Let’s conduct one final test.”
“Yes, Your Highness.”
Shortly after graduating, I finally completed the mechanical reaper.
It had taken almost as much time as the rifling machine.
‘I thought it would be simple, but with the technology available in this era, keeping the gears and levers from breaking was much harder than I expected.’
The machine was designed to be pulled by a horse.
As the horse moved forward, the wheels rotated.
That motion transferred energy through a system of gears and levers, driving blades arranged at regular intervals.
Corn stalks in the machine’s path were sliced by the blades and guided up a ramp onto a platform.
The farmers following behind needed only to gather the neatly collected stalks from the platform and tie them into bundles.
Eventually, I wanted to automate even the binding process.
I simply hadn’t reached that stage yet.
‘This is infinitely faster than cutting stalks one by one with a sickle.’
I knew because I had personally tested it during harvest.
Once distributed, the machine would drastically reduce the amount of labor required on large farms.
‘In one sense, that will create unemployment.
But I need to guide those displaced workers toward industry, infrastructure projects, or colonization.’
“Thank you for all your hard work.
As I mentioned before, every technician here will be hired by Estrada Steel.
You’ll prepare the Reaper for mass production there.”
Although I had not personally told Emilio yet, I had decided to name his company Estrada Steel.
“Thank you, Your Highness.
It has been an honor working with you over these past years.”
The technicians who had worked beside me for the last two years would now become employees of Estrada Steel.
‘Once Estrada Steel grows large enough, I’ll separate the agricultural- and mining-equipment divisions into independent companies and let the steel company focus exclusively on steel production.’
After the technicians left, I ran my hand over the finished reaper.
‘This is the first step toward modernizing agriculture.’
Industrialization and modernization were essential if Mexico was going to become a great power.
But I wanted to avoid radical methods that would cause unnecessary suffering.
‘The purpose of developing the Mexican Empire is to raise the quality of life of the people of Latin America until it equals—or surpasses—that of the developed nations.
‘The goal isn’t simply to defeat the United States and become the strongest nation on Earth.
‘I can’t lose sight of what actually matters.’
I doubted the old Mexican man who had sent me to this world would have wanted anything different.
My plan was to let the landowners gradually experience the benefits of modern agricultural technology.
Then, as fewer workers became necessary on the estates, that labor could be redirected toward colonization, industrialization, infrastructure, and national development.
‘For that to work, I need to sell this machine successfully.’
***
I intended to use business as a tool to drive industrialization and territorial development across the Mexican Empire.
But I couldn’t forget that I was the Crown Prince.
Business was only one tool among many.
Even after graduating from the military academy, I had no time to personally manage every company.
My direct involvement would be limited to areas where my knowledge was genuinely necessary.
The representatives I had appointed would continue handling daily operations.
‘Urban planning, water and sewer systems, railways, major dams—projects like those may require my direct involvement.
‘But in most fields, interfering in work outside my expertise would be pointless.’
My responsibility was to establish the general direction.
The representatives would manage the details.
I could delegate this much because they had performed exceptionally during the four years I spent at the academy.
‘Patriotism, loyalty, competence, and trust deserve to be rewarded.’
Just as I had done with Eduardo, I planned to reward my representatives with high salaries, ten percent ownership stakes, and the honor of having their names or surnames incorporated into their companies.
I had financed the businesses.
I had also supplied plans that had a high probability of succeeding because of my knowledge of future history.
But the people who actually turned those plans into reality were the representatives.
More importantly, they would be the ones running those companies for years to come.
‘Modern companies give employees equity for a reason.
‘Working only for a salary isn’t the same as working while knowing you own part of the company.’
At the moment, these men had done almost all the practical work from beginning to end.
They weren’t even expecting shares.
That was simply the kind of era we lived in.
The Mexican Empire still resembled a late-feudal society in many ways.
It was very different from countries such as Britain and the United States, where ordinary citizens were already boldly entering commerce and industry.
Here, nobles and great landowners commonly handed complete control of estates and businesses to appointed managers.
Those managers received little more than a salary somewhat higher than that of an ordinary worker.
‘And it isn’t good for either a manager’s sense of ownership or motivation.
‘Still, precisely because of the era we’re living in, what I’m about to give them will feel even more meaningful.’
I was preparing to formally register the companies as joint-stock corporations and distribute shares.
Then I encountered a problem.
“What the hell?
Mexico doesn’t have a proper joint-stock-company system yet.”
If I remembered correctly, by the late 1820s Britain, France, and the United States not only allowed joint-stock companies but also had active securities markets where shares were traded.
“As expected, we still have a long way to go.”
Apparently, I would have to begin by creating the legal system itself.
‘Shares aren’t merely a way for individuals to accumulate wealth.’
Joint-stock corporations and stock exchanges were revolutionary inventions.
A corporation could issue shares to raise the capital needed for expansion, research and development, or other investment.
Ordinary investors, meanwhile, could diversify their assets by purchasing stakes in multiple companies.
It would not be an exaggeration to say that one of the greatest inventions in the history of capitalism was not a physical object, but the joint-stock corporation itself.
Even if I ignored the question of rewarding my representatives, introducing shares and eventually establishing a stock exchange was essential.
“This isn’t something I can solve with an executive order.
It needs proper legislation.”
A law creating joint-stock companies was unlikely to provoke fierce opposition from either republicans or conservatives.
If anything, republicans would probably support it, while some conservatives might be suspicious.
‘If I approach this through the conservatives, it should still pass without much resistance.’
I could easily ask Father to have a conservative deputy draft the law.
Instead, I decided to approach an influential conservative legislator directly.
‘No matter how close you are to family, you can’t keep asking for favors without eventually owing something in return.’
I had learned that lesson when Father forced me into the military academy.
If I asked Agustín I, he would probably agree immediately.
But sooner or later, he would expect something from me too.
Better to act independently and begin building political influence of my own.
Being Crown Prince made arranging a meeting remarkably easy.
“Your Highness, you’ve become even more imposing than I remember.”
Benito Camacho was an influential conservative deputy.
I had met him years earlier when I argued against the republican deputies who opposed the confiscation of peninsular property in Congress.
“It’s already been six years.”
“Yes.
Six years indeed.”
I had grown considerably since then, so we now looked at each other from a very different height.
Constant exercise had also added a fair amount of muscle to my frame.
I probably looked almost like a different person.
“I still remember the cold logic and brilliant argument with which Your Highness silenced that entire group of republicans.
“It was impressive—especially from a young man of only fifteen.”
“Deputy Camacho provided extremely timely support that day.
It helped me a great deal.
“I never had the opportunity to thank you properly.
“Thank you.”
“Hahaha!
There’s no need.
I merely did what was right.”
“I requested this meeting because there’s something I’d like to ask of you.”
Once we reached the real subject, Camacho looked surprised.
“I thought there was practically nothing you couldn’t simply ask His Majesty for.
“I’m surprised you came to me.
“What do you need?”
“I assume you’ve heard of joint-stock companies, which are already being used in Britain, the United States, and France.
“I want Mexico to create legislation covering those companies and, eventually, a stock exchange.”
“Yes, I’ve heard of them.
“Hmm… If I use my influence, I believe I could get such legislation passed without too much difficulty, but…”
“Understood.
You want to know what I’m offering in return.”
If I invoked Agustín I’s name and pressured him, he would have little choice but to cooperate.
But then there would have been no reason to approach him personally.
Camacho understood perfectly well that I intended this to be an exchange.
“I recently invented something.
“It’s a machine capable of harvesting crops such as grain quickly and efficiently.
“As I understand it, you own several excellent haciendas. Find the original chapter at g.com.
“If you help me with this legislation, I’ll give you twenty-five of these machines.
“I’m planning to sell them for two hundred pesos each.”
In other words, I was offering goods worth five thousand pesos.
I could have simply paid him cash, but giving him the machines would double as advertising.
“Oh?
Interesting.
“My estate manager mentioned that lately several tenants have been running away to search for gold.
It has caused some difficulties.
“Could you show me this machine?”
“Of course.
I wouldn’t expect you to accept the offer based only on my word.”
“Naturally.”
“I’ll demonstrate it during the harvest season so you can see it operating under real conditions.
“In return, may I invite other landowners to watch as well?”
‘I might as well turn the demonstration into a promotional event.’
“Of course.
I have no reason to object.
“I’ll invite several other landowners myself.”
“Thank you.
Then I’ll see you again in a few months.”
“Yes.
Thank you, Your Highness.”
***
That evening, I visited Agustín I’s office.
He looked calmer than usual, no longer quite as exhausted by the mountains of documents that normally surrounded him.
“So you believe Spain will attack soon?”
“Yes.
I’ve heard Spain is emerging from its period of internal chaos.
“They won’t leave their former colonies alone forever—especially after we confiscated property belonging to the Spanish Crown and nobility.”
“That’s true.
I’ve been strengthening the armed forces precisely because I expect those Spanish bastards to attack.
“That’s why, over the last two years, I ordered your company to manufacture five thousand new rifles.”
During the two years since I established my arms company, we had converted twenty thousand flintlock muskets and delivered five thousand Eduardo rifles.
“I appreciate that.
“The problem is knowing when and where they’ll attack.
“The Mexican Empire effectively has no navy capable of intercepting them at sea.”
“We have a navy,” Father said.
Then he paused.
“…We just don’t have ships.”
“Ahem.
“Then our only realistic option is to defeat them on land.
“If we know their landing site in advance, everything becomes much easier.
“If we send spies to Cuba, we could learn when the invasion is coming and, with luck, even where they intend to land.”
“If Spain attacks, they’ll probably stop in Cuba to resupply first.
“You’re suggesting we exploit that opportunity.”
“Yes.
“We should send two agents to Havana.
“One will report immediately when the Spanish fleet arrives and identify its size.
“The other will remain behind, determine the landing destination if possible, and send that information separately.”
“That’s a good idea.
I’ll arrange it.
“Don’t worry.”
“Thank you, Father.”
With this, we would have a chance to anticipate the Spanish army’s movements.
The conflict might be unavoidable.
But the side that prepared better would be the side most likely to win.
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