Chapter 89: Railway Construction (Please subscribe!)
Translator: 549690339 |
The construction of railways requires extensive funds and manpower, which is why Arthur had hesitated to build railways in the past.
Australia’s finances are quite affluent, and the royal family also possesses a large amount of surplus funds. If it were not for the insufficient steel production and scarce workforce, the plan for railway construction would have started long ago.
However, starting now would not be too late, as it would be just in ti to complete the railway construction before World War I, accelerating Australia’s nationwide mobilization capabilities.
The good news is that Australia did construct so railways during the colonial period, although these were simple railways built by the colony itself for transporting minerals.
So sections of these railways can also be included in the planning of industrial railways, with minor modifications allowing them to continue to be used.
These railways can expedite the construction ti of Australia’s industrial railways while also saving a portion of the funds and resources required.
As for manpower, Arthur has no shortage. After acquiring indigenous peoples from New Guinea and the Dutch East Indies, Australia’s population has gained a boost in confidence.
The previous various developnt plans involved thousands of workers, which was considered a massive scale.
But now, construction plans involving less than five thousand workers are considered small-scale; national level construction starts essentially with ten thousand workers.
This is very effective in pushing forward the progress of construction. Tasks that used to take months now take only around two months to complete.
This significantly saves Australia’s financial input and indirectly reduces its workforce’s casualty rate.
After all, the hard, tiring, and dangerous work is completed by the indigenous people, and because of Australia’s small population, there are still plenty of high-paying, easy jobs waiting for the Australians.
In August 1901, Arthur began to get busy. This was not only due to the railway negotiations nearing completion and the imminent railway construction, but also because of the previous discussions with Hunter Steward about establishing global research awards.
In order to more conveniently manage the royal assets, Arthur ordered Hunter Steward to establish a royal financial group, incorporating all the royal assets for Hunter Steward to manage as a whole.
These included the shipyard, military factory, two steel factories, royal bank, private winery, all the shares of the manor house, half the shares of the Australian National University, ￡150 million lent to the governnt, and over ￡100 million in cash, all of which ford Arthur’s current assets.
Although Arthur’s purpose was not to be wealthy enough to rival a nation, he had little interest in money.
However, his identity dictated that his assets would never be small and would continue to grow over ti.
The royal family’s limited involvent in many aspects of Australia’s developnt was one of the issues raised by Hunter Steward.
This was also approved and supported by Arthur. Hunter Steward would allocate at least ￡20 million to invest in various industries throughout Australia.
These investnts may be used to purchase mineral resources, buy shares in other industries, or create new factories and enterprises with the governnt.
In any case, increasing the participation rate in so vital industries is also a way for Arthur to solidify his reputation and power.
When the monarch of a country holds the controlling interest or share in most of the country’s essential industries, they naturally possess significant power.
This would be equivalent to a combination of the financial magnates of later generations and a monarch. One with actual power and one with nominal power.
The combination of the two will create a powerful ruler comparable to autocratic monarchs in history.
Industrial railways are part of the investnt of the royal financial group. This is because at least ten years of construction ti and at least ￡20 million are needed.
The railway construction will be jointly funded by the royal family and the governnt. The royal family will invest ￡10 million, holding forty-nine percent of shares, while the governnt will invest ￡10.1 million, holding fifty- one percent of shares.
Shares only represent control, and actual profit-sharing – future railway fees, for example – will be split equally between the royal family and the governnt. In addition to the initial investnt, other additional expenses will be borne by the governnt.
This is a highly satisfactory investnt for both the governnt and the royal family. With only half the capital, the governnt can control railways while also successfully constructing railways.
anwhile, the royal family can enjoy long-term returns and the enormous prestige gained from investing in railway construction.
Don’t forget, constructing railways is also one of the hallmarks of an industrialized nation in this era.
Building a railway that spans Australia not only accelerates Australia’s various constructions and economic developnt but is also crucial to enhancing Australia’s national self-confidence and cohesion.
And both the governnt and the royal family, who provided the funds, will gain substantial prestige and a good reputation.
On August 11th, 1901, after the completion of the railway plan negotiations, Arthur ordered the newspapers to urgently print and distribute it free of charge to the entire country.
The forthcoming construction of the railway that would span Australia caused a sensation among all Australians, with so even directly likening the yet to be born railway to Australia’s backbone, a symbol of the nation’s rise.
As a result, both the governnt and the royal family gained considerable prestige, especially Arthur, who reached the pinnacle of his popularity in Australia under the promotion of Australia Daily and Victoria newspapers. Any news about Arthur would draw a crowd of Australians to scramble for the newspapers.
This was beneficial for both Arthur and Australia. The strength of a monarchial country largely depends on the extent to which its people trust their monarch. Imagine, if the entire population and army no longer pledge allegiance to their monarch, would their country’s military still possess combat capabilities?
On the contrary, if the nation’s people and soldiers are all fervently loyal to the monarch, the country will exude a terrifying cohesion. This cohesion proved to be much stronger and more intense than non-monarchic countries.
Perhaps the only thing that could compare with this cohesive force was the religious power that once dominated Europe for a long ti.
On September 1st, 1901, with the laying of the first steel rail in Sydney, the construction plan of the industrial railway officially began.
The groundbreaking ceremony attracted tens of thousands of Australians to watch. People held homade banners, most of which read “Long live the Industrial Railway! Long live the Duke!”
anwhile, a stealthy fleet set sail from Sydney, skirting the Tasman Sea before turning and heading westwards.
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