The Fox of France - Chapter 326: Gilded Shields

President Miguel Idalgo Castilla exclaimed in surprise, “We borrow money from them, it circulates in our hands for a moment, then swiftly returns to them. They walk away with a clean 150,000 in interest, and we, in turn, have to give them thirty percent from another source. And this thirty percent, along with the interest, we have to repay ourselves? This is quite…”

“Mr. President, you’ve misunderstood. When I mentioned a thirty-seventy split, I meant they take seventy percent, we take thirty!” a savvy individual corrected promptly.

“Ah?!” President Idalgo was utterly astonished. “They haven’t done anything, why do they get to take so much?”

“Because, Mr. President, pardon my frankness, but no government in the world recognizes yours. No one will lend you money. If your government were globally acknowledged and not facing imminent collapse, then you could easily secure loans at these rates. But as it stands, if you don’t cooperate, you won’t secure any loans.

Think about it, should you fail, everything the Mexicans possess would revert to the Spaniards. That’s an enormous loss. Yet, if you succeed, indeed, your nation will incur debts. However, without this, your country might not even survive. It’s akin to a person with a severe illness, where only one medicine can cure them. If they don’t take it, they’ll perish. But by taking it, their skin darkens like that of a black person. Would they take it? Being dark-skinned is preferable to being deceased.

Let’s calculate; we’re short about five million francs, enough to buy arms, train soldiers, and defeat the Spanish expedition. Realistically, we only need to borrow seventeen million francs. The annual interest is merely two million five hundred fifty thousand francs. Even if it takes ten years to repay, the interest rate is only eight and a half times. Approach the banks directly at this rate; who would be willing to lend to your government? Moreover, those cursed Spaniards plunder far more wealth from Mexico each year than this. So, Mr. President, what’s the hesitation?”

However, President Idalgo remained somewhat hesitant, indicating he needed further consideration on the matter.

Yet, soon after, Idalgo couldn’t dawdle any longer. Reliable intelligence arrived: the Spanish expeditionary force, numbering thirty thousand, fully equipped with state-of-the-art weapons such as rifled guns, cannons, revolvers, and muskets, was ready to depart. Realizing that with the current Mexican forces, they stood no chance against such a formidable army, he urgently needed to secure loans to bolster his troops to counter the imminent Spanish invasion.

Given the size of the Spanish expeditionary force, borrowing just five million seemed insufficient. Thus, Idalgo made a resolute decision: go big or go home. He opted to borrow an audacious thirty-five million francs, intending to crush the Spanish with money. After all, what future would there be without a present?

Consequently, the Bank of Louisiana swiftly announced a loan agreement with the Republic of Mexico, providing a two million franc loan.

Almost everyone was aware of the ties between the Bank of Louisiana, the military-industrial complex, and the French government. Hence, the bank’s action was seen by many as an implicit endorsement by France. If the French sided with Mexico, few believed the Spaniards could retain their hold.

Banks willing to offer loans to the Idalgo government increased rapidly. The Republic of Mexico smoothly secured three hundred fifty million francs in loans from various banks. According to their prior agreement, most of this sum promptly flowed into the Bank of Louisiana’s coffers, while the remainder essentially found its way there, transforming into various supplies delivered to the “Mexican government.”

Equipped with these supplies, President Idalgo gained confidence, reallocating financial strength to reorganize his military forces. Learning from the bitter experience of the previous victory, he also recruited numerous French instructors from Louisiana for his army.

Over a month later, the Spanish fleet reached Cuba. The soldiers disembarked in Havana to rest, preparing for the impending battle. Simultaneously, the reorganized “Mexican government army” utilized this final window to intensify training, bracing for the imminent conflict.

After a week’s halt in Cuba, the expeditionary force boarded ships, traversing the Mexican Gulf and landing in Veracruz.

In Veracruz, the expeditionary force received a warm welcome from the Spanish Governor-General Gomez and other loyalists to Spain (mostly peninsulares). General Franco, the expeditionary force commander, assured everyone at a gathering that he and his “loyal and brave soldiers” would restore order in the Mexican region and exterminate the insurgents completely.

Staying for another week in Veracruz to prepare supplies, the expeditionary force planned an assault on Mexico City. A week later, the thirty thousand-strong force left Veracruz, marching towards Mexico City. General Franco believed that with his well-trained soldiers (though the training of Spanish soldiers in Europe was mediocre compared to the militias in North America, Franco deemed his soldiers adequately trained), advanced weaponry, and his study of modern French military tactics, he should easily defeat this ragtag bunch.

However, as he approached Mexico City with his army, seeing the rebels, his confidence received a harsh blow.

“Damn! This is the rebels’ position? This… this damned hell is it! Rebels?” General Franco’s eyes widened in anger. “Trenches, barbed wire, minefields… where did they learn Joseph’s defense tactics from? Damn Frenchmen, this must be their conspiracy!”

At the sight of “Joseph’s defense,” General Franco felt a shiver down his spine. Though the French army recently demonstrated how to breach Joseph’s defense swiftly, that was the French army, not Franco’s expeditionary force.

However, General Franco consoled himself; “Joseph’s defense” had a significant drawback—it was costly. Hence, in military circles across Europe, this defense had an alias: the “Gilded Shield.” Nations with limited resources often presented a downgraded version of “Joseph’s defense,” mockingly termed “gilded” or even “brass shields.”

“Maybe what I’m facing here is a ‘gilded shield’ or even a ‘brass shield.’ Just because it looks like one doesn’t mean it’s a ‘gilded shield.’ Only by testing it will I know its quality. But even if it’s a ‘gilded shield’ or ‘brass shield,’ it won’t be that easy to deal with,” General Franco mused.