Chapter 390: The Hidden Battle Between Britain and France
The Marquess of Wellesley felt as if he had swallowed a lump of mud, stuck in his chest. He took a deep breath before nodding and replying:
"Yes, we have encountered some challenges in the Far East, but the East India Company has already dispatched reinforcements. The Mysore natives will soon face their rightful punishment."
"Oh, so you've come to share the good news of the British army's triumphs," Talleyrand remarked with an exaggerated expression. "It seems we have little to discuss regarding the Far East then. Allow me to congratulate His Majesty the King of England on his glorious victory in advance!"
Looking at Talleyrand's smug face, Wellesley wanted nothing more than to throw out a "we'll see about that" and storm out. But he quickly remembered the special £1.7 million bond that the British East India Company had just issued last week. This money was specifically allocated to deal with the Mysore problem—an enormous sum of over 42 million livres at current exchange rates.
And that was just the first batch. After paying for additional soldiers' wages, purchasing weapons and supplies, and aiding their Indian allies, most of the money had already been spent. They might need to issue at least another £800,000 in bonds next month.
It should be noted that the British Royal Navy, at the request of the East India Company, had dispatched 25 warships carrying over 5,000 marines to assist in resisting Mysore's army in South Asia. These warships and soldiers, sent halfway around the world, were costly endeavors.
If the East India Company faced setbacks in the war against Mysore, this massive financial loss would cause the company's stock to plummet. Additionally, the ongoing conflict would negatively impact the revenue from British-Indian trade, further straining the company's finances.
The East India Company wasn't just any company—it was the British Empire's most important "financial pump," contributing enormous sums to Britain's coffers each year. The company's profitability directly influenced the government's fiscal surplus.
More importantly, nearly all members of British high society—including almost every member of Parliament—were shareholders in the East India Company. If the company's stock crashed, the financially wounded British would promptly oust the Tory government. Even King George III, a strong supporter of Prime Minister Pitt the Younger, would see his political influence wane.
Wellesley knew his mission was to secure the best possible conditions for the East India Company in India, which meant enduring this frustrating negotiation with Talleyrand.
He paused for a moment, then smiled: "Reverend Archbishop, you know that defeating Mysore is simply a matter of funding. Fortunately, Britain can easily provide the necessary resources."
Leaning forward slightly, he looked directly at Talleyrand: "However, France's involvement in Tunisia presents a significant financial burden. If my calculations are correct—and feel free to correct me—you won't be able to sustain your North African operations beyond the end of this year. I've also heard that you're planning substantial investments in steel mills in Luxembourg, which would further strain your military budget, perhaps even before year's end."
"You're quite the financial expert," Talleyrand replied, seemingly unbothered. "Fortunately, Tunisia is close to France, so the costs are manageable. And how much has your country invested in India? Two million pounds?"
He waved his hand dismissively: "Of course, for the wealthy East India Company, that's just a few months of 'domestic taxes'[Note 1]."
The so-called "domestic tax" referred to the profits the East India Company remitted to the British government each year, excluding dividends paid to shareholders. This highlighted just how profitable the company was.
Talleyrand locked eyes with the British Foreign Minister: "You see, the key issue is that France can afford to lose North Africa. After all, we haven't invested much there, and not many people have bought land. But can Britain be as nonchalant about waving goodbye to India?"
Wellesley froze. The damned cripple was right—Britain couldn't afford such a loss, which was why he had to endure this humiliation in Paris.
Forcing a smile, he picked up his teacup and took a sip, avoiding Talleyrand's gaze: "So, neither of our nations has any reason to continue wasting resources on matters that don't concern us, wouldn't you agree?"
He was suggesting that Britain would stop supporting Algiers and Tripoli if France ceased aiding Mysore, allowing both countries to save money and focus on their own interests.
Talleyrand nodded: "Your proposal is quite sensible. So, Britain should formally recognize our interests in the Maghreb countries, correct?"
The Marquess of Wellesley nearly wanted to smack Talleyrand with his walking stick. France had only managed to seize Tunisia during the chaos, and now they were trying to claim the entire Maghreb, including Morocco, which was firmly within the British sphere of influence!
"That's completely unreasonable," he shook his head. "At most, we can acknowledge France's influence in Tunisia."
"Perhaps establishing some diplomatic ties with Mysore wouldn't be a bad idea."
"If you do that, the Royal Navy will blockade the Strait of Gibraltar!"
"I doubt your country, already mired in India, has the resources to project power in the Mediterranean…"
"When challenged, the British Empire's strength will surprise everyone."
"Fine, let's exclude Morocco. But we want trade rights in the Carnatic region of India."
"You're asking too much, Archbishop. Such gluttony is bad for your health. Let's be reasonable—Mysore pulls back, and France secures Tunisia. It's a fair deal."
The Carnatic region was a large principality in southeastern India, vastly larger than France's current foothold in Pondicherry. Granting France trade rights there would break Britain's monopoly on Indian trade, a concession Britain would never make.
Of course, Talleyrand was simply making an outrageous demand as part of the negotiation. The French fleet was not yet strong enough to protect distant trade routes to the Far East.
"Then let's talk about returning Dominica and Antigua to France…" Talleyrand suggested, referring to two small but sugar-rich Caribbean islands.
"No, you're mistaken. Mysore for Tunisia—that's my bottom line…"
...
After a "sincere and in-depth exchange of views," the two old foxes ended their meeting in a very cordial atmosphere, without reaching any agreements.
This was standard practice in diplomacy. Each side first probed the other's bottom line, then returned home to reassess their strategies before resuming talks. The process continued until one side decided they could no longer sustain the effort…
Leaving Versailles with a dark expression, Wellesley wrote a letter in his carriage to Sir Charles Talmash, Britain's special envoy to the Maghreb, urging him to pressure Algiers and Tripoli to act against Tunisia.
He then wrote to the Governor-General of India, Lord Cornwallis, instructing him to concentrate all available forces to secure a decisive victory, which would strengthen Britain's negotiating position with France.
Meanwhile, in the Prince's quarters, Talleyrand was reporting on the meeting's details to Joseph.
Note 1: Talleyrand's remark was an exaggeration. In reality, by the late 18th century, the East India Company was remitting approximately £3 million annually to Britain.
(End of Chapter)
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