Life of Being a Crown Prince in France

Chapter 1105: Chapter 1011: Irish Resistance Movement

This Le Bon presented his ideas clearly and creatively. With his simple adjustments, some existing, mature technologies resolved several major technical obstacles.

Joseph, after just hearing it once, was basically certain that this technological proposal should be feasible.

After explaining the kerosene refining technology, Le Bon also showcased his improvements on oil lamps, making them more suitable for using kerosene as fuel—the existing oil lamps were designed for peanut oil and whale oil, and according to his tests, using kerosene directly would damage the lampshades.

This meticulousness and caution made Joseph even more satisfied with him.

However, the fourth bidding company was not simple either.

This was a chemical factory named “Lalosel United Company,” whose sulfuric acid production workshop in Paris could meet nearly half of France’s market demand, with an annual sales revenue of up to 150,000 francs.

The kerosene refining technology they developed was somewhat more cumbersome than Le Bon’s, but overall, it should also meet the tender requirements.

Moreover, they spared no expense to build a demonstration device that could be visited at any time in the factory.

After the technical demonstration by Lalosel United Company, Joseph knew that they were most likely to win the bid.

Although he personally preferred the “Dino Dye Factory” represented by Le Bon, “Lalosel” had a larger company scale, ample funding, and even several times more technicians than “Dino.”

With the price quote from both being quite similar, given the government’s predisposition for stability and reliability, the chances for “Dino” were quite slim.

Once the bidding process was concluded and the four companies successively left, the members of the “Kerosene Refining Project” bidding committee immediately commenced the review meeting.

Joseph and Chaputal talked about matters regarding the development in the chemical field as they headed towards the carriage parked in the square to return to the Palace of Versailles.

“I remember the newly constructed dye factory in Reims halted temporarily due to technical reasons,” Joseph remarked, “perhaps that Mr. Le Bon just now could handle it since his technical skills are outstanding.”

Chaputal quickly replied, “Your Highness, but ‘Dino Dye Factory’ is likely to win the bid, and by then, Le Bon will definitely be occupied with the kerosene refinery matters.”

Joseph was quite surprised, “Hmm? Why not ‘Lalosel’? They seem to have more advantages.”

Chaputal explained, “Your Highness, the ‘Lalosel United Company’ did not obtain any ‘investment and credit rating.’ You see, many companies are unwilling to spare that small rating fee.

“Whereas the ‘Dino Dye Factory,’ despite only having a Baa2 rating, is far superior to having no rating, which rewarded them with plenty of points in the rating aspect.

“Frankly, the technological proposals and quotes of both companies are very close, hence ‘Dino’s’ scores will be significantly higher.”

Joseph then remembered that France’s two major rating agencies, the International Standard Statistics Company and the First Credit Rating Company, had begun to offer rating services to all companies in France from the start of the year.

Additionally, the Ministry of Industry provided subsidies, covering half of the rating fees for all companies during the initial two years of the rating business.

For a company like the Lalosel United Company, it would only cost 75 francs to complete the “investment and credit rating.”

And the rating result would affect the company’s difficulty in obtaining bank loans—the higher the rating, the more willing banks are to offer loans, possibly even reducing interest appropriately.

Following France’s relaxation of company listing restrictions, many companies rushed to list on the stock exchange, and ratings would also influence their stock prices and investors’ willingness to invest.

Yet despite this, many companies without loan or listing needs still opted not to undergo rating—any new concept is hard for people to accept immediately at its inception.

Joseph nodded with a smile, “This tender is a great example and should be well-publicized.

“The rating agencies in Genoa over there should also expedite preparations, after all, the Milan Stock Exchange is going to start operating.”

Joseph knew that for the rating results to be widely accepted, it would take at least a decade of accumulation, but this authority must be firmly controlled by France from the beginning.

To this end, even if it takes tens of thousands of francs annually, it is worth it.

When England, Prussia, and Austria realize and try to seize the rating authority, they will find that even investing hundreds or thousands of times the funds France did back then would hardly yield any result.

Discussing the rating agency matters with the Deputy Minister of the Ministry of Industry, Joseph’s carriage had already entered the Marble Courtyard.

After the latter saluted and took his leave, Joseph returned to his chamber.

Once he rounded the corridor, he immediately saw Alexandra approaching, curtseying, “Your Highness, you are back.”

The young girl had obviously been waiting for him here.

Joseph was somewhat surprised.

He knew that Alexandra’s schedule was extremely packed—studying mathematics, physics, and chemistry in the morning, sometimes even biology. After lunch, there was a two-hour painting or etiquette class. At three in the afternoon was a swordsmanship class alongside Charles. From four o’clock, she would do her homework until dinner, or it would be interrupted by necessary social engagements.

Usually, the first time Joseph would see her each day was when they would have dinner together.

And today she came before four.

Joseph made a slight bow and indicated to the reception room, “It seems you have been waiting for a long time, did something happen?”

“Yes, Your Highness, I think it might be something important,” The Crown Princess said as she entered the room, then turned to signal to those behind her.

A guard led a man of short stature, with a scholarly air yet a rather sharp gaze, forward. Behind them followed Porte Yer.

Alexandra gestured towards the two men, “Your Highness, this is Mr. McLaren. He is from Ireland.

“This is Mr. Porte Yer. His father is Baron Potier. He brought Mr. McLaren to meet me.”

The two of them immediately bowed in respect.

McLaren said excitedly, “It is an honor to meet you, esteemed Crown Prince. Thank you, Jesus.

“Oh, I am here on behalf of the ‘United Irishmen Association.’

Joseph narrowed his eyes slightly and first addressed Alexandra, “You did very well. Regarding this gentleman, please do not mention him to anyone.

“Hmm, do you still have a class to attend? Let’s meet in the evening.”

It wasn’t that he didn’t trust Alexandra, as his Crown Princess, her life had long been intertwined with that of France.

He just didn’t want the young girl to be involved with matters that might be somewhat bloody.

Alexandra curtseyed and left. Joseph indicated to Eman to close the door before turning to the two men, “Alright, now you can tell me the purpose of your visit.”

Porte Yer handed over a letter from Thorne, the leader of the United Irishmen Association, and said with a wry smile, “Your Highness, I only got involved by accident.”

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