After leaving the Palace of Versailles, Alexandrovich had lost all interest in sightseeing. Clearly, this trip to Paris had not gone smoothly.
Napoleon III's display of goodwill toward Russia was merely a matter of political necessity, meant to flaunt France's position before the nations of Europe. It did not mean that France truly intended to draw Russia to its side.
Without the humiliation of the Treaty of Frankfurt, the proud French would never have thought much of Russia, that fallen barbarian.
Especially after United Kingdom, France, and Austria formed their alliance, France no longer faced diplomatic pressure. There was no enemy left in the world worth their serious attention—at least on the surface.
Before Alexandrovich set out for Paris, the Saint Petersburg Government had held great hopes, intending to use the French effort to woo Russia to secure financial assistance.
Reality was brutal. Money from the usury empire was not so easy to obtain. Bankers were shrewd, especially when dealing with the Tsarist Government, which had lost all credibility.
Even the five-hundred-million-franc loan promised in advance had now run into trouble. The French demanded gold and silver as collateral.
There was nothing strange about that. Alexander II was also carrying out currency reform, though his steps were far smaller. Now the French had set their sights on Russia's reserves.
Since Alexander II began his reforms, industrial development, railway construction, and agricultural reform had become the government's three major strategies.
The plans were excellent, but all of them required financial backing. Because of the war, vast quantities of gold and silver had flowed out of the Russian Empire, leaving its domestic capital severely lacking.
The Tsarist Government's solution was to attract foreign investment. Unfortunately, European banks refused to provide them with loans, and even investors were exceptionally cautious.
Alexander II's reforms