“I’m sorry for your loss,” Dana said. “We were on the road when all that happened, so we never learned what was going on.”
That put something of a damper on the evening for a while. Still, Márton did promise to go out to Race Track City and see the glider.
CHAPTER 27
Buying Patents and Bribing People
August 1635
Moses Abrabanel’s Office, outside Vienna
“Because the people like calling it ‘BarbieCo.’” Susan grinned. “I know the name sounds silly, but that doesn’t stop people from liking it.”
“Actually, Ms. Logsden,” Moses Abrabanel said, “it doesn’t sound that silly. Not here in Vienna. What most people know about Barbies is how expensive they are, not that they were cheap toys up-time. At least not the cheap part. And, of course, the rumors of the Barbie Consortium . . . they’ve all heard those. So what did you want to see me about?”
“Well, we want you to endorse Barbie preferred.” She hesitated, then said, “The way you did the American dollar back in ’31.”
Moses felt like he’d been hit with a brick. This was not what he had in mind when he counseled the emperor not to shut them down a week ago. “Endorsing the money of a nation, is one thing. Endorsing the stock of a private company, well, that’s quite another, ah, thing.”
“We’re aware of that, believe me, Herr Abrabanel. But we are planing to build a skyscraper here in Vienna. Such a building would act as a long-term income source.”
“So?”
“So, acquiring BarbieCo stock—which guarantees a two percent annual income but can, if our projects prosper, become a much better investment—is a good idea.”
“Well enough. I will look into it, and if we decide we are interested, we will acquire some BarbieCo stock. But that’s not what you’re asking for. You’re asking our family to guarantee the value of your stock with our money.”
“Yes. Which doesn’t cost you anything at all unless you are forced to buy it, which you won’t be, because it’s going to be circulating throughout the community.”
“You hope,” Moses said, shaking his head. “I hope so too, even though what you’re doing is too close for comfort to usurping the crown’s right of creating money.”
“Not at all. It’s stock in a corporation. I admit that it’s negotiable and fungible, so that under certain circumstances it can act like money. But in no way are we claiming any endorsement or legal recognition by the government of Austria-Hungary or any government, for that matter. What it is, is limited liability part-ownership in BarbieCo, formerly known as American Equipment Company, a stock corporation registered in the State of Thuringia-Franconia.
“Meanwhile, the Austro-Hungarian reichsthaler is losing ground against the American dollar, even faster than silver bullion. You don’t have enough money to run your economy and you can’t introduce more without a panic. Besides we think introducing our—” She shrugged. “—sort-of-money is necessary . . . and not just for us. Your family has a lot invested in Vienna and Austria-Hungary in general. If this malaise keeps up, those investments are going to be seriously damaged. Frankly, sir, even if Prince Karl was to invest every penny he owns, it wouldn’t be enough.”
“I’m aware of that,” Moses agreed. “But there is still the danger of inflation and you’re still asking us to risk getting stuck with thousands, perhaps millions, of reichsthaler worth of prettily printed paper.”
“That could happen,” she acknowledged. “But I don’t think it’s likely, for a couple of reasons. First, given any reason at all to feel confident in BarbieCo preferred, people will use it. Also, if we can buy up enough of the patents that Ferdinand has been selling, we can break the industrial logjam.” She stopped for a moment. “And that’s about the dumbest thing I’ve ever heard of, even if he is your emperor.”
“His father started it,” Moses put in. “And his clerks have continued selling patents on up-timer inventions as a matter of course. Honestly, Ms. Logsden, we haven’t had that much choice. The government simply needed the money.”
“Maybe. But you were killing the goose that would have been laying the golden eggs. You know, and I know, and your emperor ought to know, that it’s just plain stupid . . .”
“I heard you the first time, Ms. Logsden. And by now I tend to agree. But it wasn’t so cut-and-dried at first. After all, you up-timers offer patents, do you not?”
“Limited patents, to the people who invent things, yes. Not just to anybody who’s willing to cough up a few bucks.” Then Susan visibly paused and contained herself. “I’m sorry, Herr Abrabanel. I didn’t come here to criticize either you or the emperor. The fact is, if we’re going to do any good here at all, for ourselves or for Vienna, or for the Austro-Hungarian Empire, we need to be able to introduce more money than we can afford to ship in from Grantville. But if we can do that, and we can free up some of those patents, there is a very good chance that we can set up a boom like the one that’s going on in the USE.”