A state-owned farm near Mexico City.
Just as I had promised, today I would demonstrate the mechanical reaper under actual harvesting conditions.
“Deputy Camacho, I see your influence is as impressive as ever.”
He had brought more than twenty landowners with him.
“Hahaha!
It’s nothing.
“More importantly, I’m very eager to see the machine Your Highness described.”
He looked genuinely excited.
Emilio would conduct the demonstration.
A technician from Estrada Steel—the company that had built the machine—would operate it.
I remained among the landowners, watching their reactions.
Emilio began his presentation.
“Gentlemen, this machine is designed to make harvesting crops such as corn and wheat much easier and faster.
“I imagine many of you have been dealing with tenants and laborers insisting on leaving for California because of the Gold Rush.
“Well, with this machine, you won’t need nearly as many of them.
“Allow me to demonstrate.”
When Emilio finished speaking, the technician urged the horse forward.
The animal moved into the cornfield, slowly pulling the large machine behind it.
The reaper’s sharpened blades immediately sprang into motion, slicing through the corn stalks in rapid succession.
Murmurs of amazement spread through the landowners.
“Good heavens!”
“It cuts the stalks almost instantly.”
The severed stalks accumulated on the machine’s broad platform.
After roughly thirty meters, the platform was nearly full.
The technician walking behind the machine quickly gathered the stalks, tied them into bundles, and dropped them onto the ground.
Emilio explained as he worked.
“Once the stalks are tied and dropped like this, they can all be collected together afterward.”
The platform emptied rapidly, only to fill again within minutes.
The process repeated—cutting, collecting, tying, and dropping bundles onto the field.
“One worker could harvest an entire field of this size.”
“And look at the speed.
He’d finish in half a day.”
The landowners might not personally manage their estates, but anyone with eyes could understand the machine’s efficiency.
Their response was overwhelmingly positive.
Emilio immediately took advantage of the mood.
“With this machine, one person can perform the work of five!
“And the price of this remarkable machine is only two hundred pesos!
“For everyone attending today’s demonstration, we’re offering a ten-percent discount—only one hundred eighty pesos per unit!”
Two hundred pesos represented roughly ten months of wages for an ordinary laborer.
For the wealthy landowners standing around me, however, it was a trivial amount.
‘They’re doing the calculations right now.
‘Even if the machine doesn’t allow them to eliminate four workers completely, reducing a five-man job to three people would still repay the investment quickly.’
The reaper cost roughly one hundred twenty pesos to manufacture.
With no competitors, I could have charged considerably more.
But profit per machine was not my primary objective.
I wanted the technology distributed throughout Mexico as quickly as possible.
‘Once the first buyers start telling everyone how useful it is, other landowners will be willing to risk two hundred pesos just to try one.’
It did not take long for the orders to begin.
“I’ll order thirty.”
“Thank you for being our first customer.
We’ll arrange delivery immediately.”
“I’ll take fifty.”
“Twenty for me.”
Large orders began pouring in from the wealthy landowners.
I turned toward Camacho.
“What did you think of the machine, Deputy?”
“It’s extraordinary.
“You weren’t exaggerating when you said one worker could do the work of five.”
“Then would you say these machines are sufficient compensation for the favor I requested earlier?”
“I’ll handle it immediately.”
***
One week later, Deputy Camacho introduced legislation governing joint-stock companies and a stock exchange.
The bill passed without opposition from either republicans or conservatives.
As soon as the law took effect, I went to the administration to register the companies.
Then I ran into an unexpected problem.
“A joint-stock company?
What is that?”
“Ah.”
‘Right.
The law was literally just passed.
Of course they don’t know how any of this works yet.’
The officials knew practically nothing about joint-stock corporations or stock exchanges.
I couldn’t demand that they administer a system they had never encountered.
So I rolled up my sleeves and helped them build the process from the beginning.
“Once this is finished, we’ll be able to start registering joint-stock companies.
“As for the stock exchange, we’ll need a physical marketplace and eventually a dedicated building, so we’ll establish that gradually.”
“Yes, Your Highness.”
They represented the first seven registered joint-stock corporations in the Mexican Empire.
Each file contained the company’s registration documents and stock certificates.
It had taken much longer than expected merely to distribute shares to my executives.
Still, joint-stock corporations and a stock exchange were essential foundations for the Mexican Empire’s future economic development.
‘I implemented a system the country needed and rewarded the people who deserved it.
‘Two achievements at once.’
***
I summoned all of my representatives to the Imperial Palace except the two still working in California.
“My friends, you’ve worked extremely hard over the last four years.
“I gathered you here today because I want to properly thank you for everything you’ve done.”
I approached Emilio first.
He was watching me with obvious anticipation.
I handed him a file.
“Emilio.
You’ve worked hard, and I intend to continue trusting you.”
He opened the file and began examining the papers.
“Your Highness, may I ask what these documents are?”
“They’re shares.
“A share represents partial ownership of a company or business.
“This certificate proves that you own part of the company.
“See where it says one hundred?
That means this certificate represents one hundred shares.”
“Ten certificates of one hundred shares each… That’s one thousand shares.”
“Exactly.
“The company has ten thousand shares in total, and you own one thousand.
“That gives you ten-percent ownership.
“Now look here.”
I pointed to the company name printed on the document.
Estrada Steel.
Emilio stared at me.
“Your Highness… You registered the company using my surname?”
I smiled and nodded.
“That’s right.
“The company will handle everything from acquiring iron ore to producing finished steel.
“I decided ‘Steel’ was the simplest name because that will eventually become its primary product.
“We currently manufacture agricultural and mining equipment as well, but in the future I intend to separate those divisions and let this company concentrate exclusively on steel.”
Tears began rolling down Emilio’s face.
“I never imagined I would receive an honor like this in my entire life.
“Thank you!
“I’ll devote my life to this company!”
I patted him on the shoulder.
“Keep working hard, but don’t destroy yourself doing it.
“We still have a long road ahead.”
Next, I handed Ramón his file and stock certificates.
After watching Emilio’s reaction, Ramón immediately searched the documents for the company name.
“Ramón… You used my first name directly.”
“That’s right.
“Right now, the company mainly sells jeans and tents.
“But I deliberately gave it a simple name because one day I want Ramón to become the greatest clothing brand in the world.”
Ramón looked at me with determination.
“I’ll turn this company into the greatest clothing brand in the world.”
Ramón Alvarado.
He had originally been a carpenter, but he possessed a surprisingly strong sense of design.
While other carpenters paid little attention to appearance or interior details, Ramón always cared about how things looked.
Even when wearing ordinary, worn work clothes, he somehow managed to wear them stylishly.
“With your talent, I believe you can do it.”
Then came Alfonso Ríos.
I handed him the corporate documents and share certificates.
He looked at the name printed on the papers and quietly read it aloud.
“Ríos Express…”
He remained silent for a surprisingly long time, carefully reading every page.
Then he looked up.
“Thank you, Your Highness.”
“Hm?
No questions about the company name?”
“No.
I understood as soon as I saw it.”
I had named Alfonso’s company—which handled freight, passenger transport, and increasingly financial services—Ríos Express.
The inspiration was American Express, an American company that began in transportation and later became a global financial giant, similar in some respects to Wells Fargo.
“I see.
“You’ve been expanding aggressively lately, and the results have been excellent.”
“Yes, Your Highness.
“We’ll soon begin offering the financial services you recommended.”
“Excellent.
Keep going.”
Of all my businesses, his company was currently producing the largest profits.
The others were performing well, but Alfonso had expanded faster than anyone else.
“Thank you. Enjoying the story? Read on at g.com.
I’ll do everything I can.”
Next came Andrés Ortega, who would manage the construction company.
“Master Andrés.
It’s been a long time.”
“I admit I regretted being unable to accompany Your Highness before.
“I’m deeply grateful that you’ve given me another opportunity.”
Andrés Ortega had served as the master carpenter during the construction of Sacramento.
Because the settlement needed him, he had been unable to return to Mexico City with me.
Now, at last, he had joined the organization.
“These are the company documents and your stock certificates.”
“Ortega Construction…
“I haven’t done anything for the company yet, and you’re already giving me such an honor.
“That doesn’t seem fair, Your Highness.”
“Hahaha!
“The fact that you’re worried about fairness even while receiving a gift proves you haven’t changed at all, Master Andrés.
“If it bothers you, then work even harder from now on.
Problem solved.”
He tried to return the documents.
I refused until he finally gave in.
“…I’ll do my very best.”
“Good.
“And these are the documents for Hernando and Isidro, who are still working hard in California.”
“Yes, Your Highness.”
I handed him the files for the other two companies and explained my restructuring plan.
“As you know, their businesses currently overlap.
“The main difference is location—one operates in Sacramento and the other in San Francisco—but both are involved in mining, restaurants, lodging, and local construction.
“They’ve also been building houses and commercial properties in their respective settlements.
“I’ve separated the construction side and placed it under Ortega Construction.”
“Yes.
I understand.”
Hernando Mora’s and Isidro Solís’s businesses were both performing well.
But for the future, I wanted each company to have a clear identity.
“I’ve decided Hernando will take charge of the mining company, which will be called Mora Mining Company.
“Isidro will handle the restaurant and hospitality businesses under a company called Solís.
“Dividing the old operations into three companies will make each one’s purpose much clearer.
“Make sure you explain everything carefully when you reach California.”
At present, Mora Mining Company dealt only in gold.
Eventually, however, I intended it to develop all kinds of mineral resources except iron, which would remain under Estrada Steel.
‘And eventually, I’ll add proper hotels to Solís.’
“Alfonso, make sure Andrés and these documents reach California safely.”
“Yes.
I’ll double the security assigned to that carriage.”
“Good.”
The final person was Eduardo.
I had already told him long ago that he would eventually receive shares, so unlike the others, he didn’t burst into tears.
Still, he thanked me with complete seriousness.
“I’ll make Vega Defense Industries, which Your Highness entrusted to me, the greatest defense company in the world.”
“I’m counting on you.
“And make sure you accelerate artillery production as well.”
“Yes.
I will.”
After everyone had received their certificates, I gave them one final warning.
“Take good care of those documents.
“If someone steals the physical certificates, proving ownership could become extremely difficult.
“Don’t treat them casually.”
In this era, such problems were very real.
Even in the United States, powerful businessmen sometimes hired gangs to steal stock certificates from rivals, occasionally leading to gunfights.
Forgery was another constant danger.
Because financial records had to be maintained by hand, bribing an official to alter a ledger was frighteningly easy.
Of course, I had no intention of deliberately creating a system as vulnerable as mid-nineteenth-century American finance.
A stolen certificate alone would not automatically transfer legal ownership under the rules I had helped establish.
Even so, warning them to protect the documents was necessary.
“UNDERSTOOD!”
‘Now I can relax a little.’
I had always believed loyalty and patriotism deserved tangible rewards.
I personally accompanied the executives as they left and said goodbye.
Feeling satisfied, I returned to my office to begin preparing my next plan.
Before I could start, my assistant Diego approached.
“Your Highness, His Majesty is urgently asking for you.”
“What happened?”
“He said it concerns Spain.”
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