The covert struggle between Britain and France
The Marquess Wellesley was speechless, as if a lump of mud was stuck in his chest. He took a deep breath before nodding and saying:
"Yes, although we have encountered some challenges in the Far East, the East India Company has significantly increased its troop presence, and the natives of Mysore will soon be punished."
"So you've come to report the good news of the English Army's unstoppable advance." Talleyrand made an exaggerated expression. "In that case, we have nothing left to discuss in the the East. Oh, and congratulations in advance on His Majesty's glorious victory!"
Looking at his smug expression, Wellesley really wanted to just say "You'll see" and walk away.
However, he immediately recalled the Pound Sterling 1.7 million special bonds that the United Kingdom East India Company had just issued last week. This money was specifically intended to resolve the Mysore Problem—a huge sum of over Livre 42 million livres at the current exchange rate.
This is just the first batch of bonds, and it's already almost spent after paying for the additional troops' salaries, purchasing weapons and supplies, and aiding India allies. At least another Pound Sterling 800,000 may be issued next month.
It's important to understand that, at the request of the East India Company, the British Royal Navy dispatched 25 warships, carrying over 5,000 marines, to South Asia to assist in resisting Mysore's forces. These warships and soldiers were traveling tens of thousands of nautical miles to fight, and they were all enormous money-guzzling machines.
If the East India Company's war with Mysore goes poorly, this huge loss will cause East India Company stock price to plummet. At the same time, the East India Company's revenue will also be affected by the war's impact on Anglo-Indian trade.
It's important to understand that the East India Company was more than just a company; it was the most important "blood transfusion" for the British Empire, contributing enormous sums of money to the United Kingdom every year. Its profitability directly determined the British Government's Finance surplus.
More importantly, the United Kingdom, especially United Kingdom upper class – which included almost all members of parliament – were essentially shareholders of the East India Company.
If the East India Company's stock price were to collapse, the United Kingdom, whose coffers would be severely impacted, would immediately oust the Tory Party from power. Even King George III, a staunch supporter of Pitt the Younger, would suffer a loss of political prestige as a result.
Wellesley knew that his mission was to secure the best possible war environment for the East India Company in India, and for now, he had to put up with this cripple.
He hesitated for a moment, then smiled and said, "Your Archbishop, you know that defeating Mysore is simply a matter of money. Fortunately, United Kingdom can easily come up with that amount."
He leaned forward slightly and looked at Talleyrand, saying, "But for your country, the investment in Tunisia is a heavy Finance burden."
"Oh, if my calculations are wrong, please point it out directly. Your country's Finance should only be enough to support the situation in North Africa until the end of this year. By the way, I heard you are planning a large-scale investment in Ironworks in Luxembourg, which will further squeeze military spending, and may not even last until the end of the year."
"I'm truly impressed that you're also so knowledgeable about finance," Talleyrand said nonchalantly. "Fortunately, Tunisia is very close to France, so it won't cost much."
"And how much money did you invest in this project in India? Pound Sterling 2 million?"
He smiled and waved his hand, "Of course, this is nothing to the wealthy East India Company. It's just a mere six months' worth of 'domestic tax' [Note 1]."
The so-called "domestic tax" was the revenue paid by the East India Company to the British Government. This did not include dividends paid to shareholders, which shows just how astonishing the East India Company's money-making ability was.
As Talleyrand spoke, he met the gaze of the United Kingdom Minister of Foreign Affairs: "You see, the key issue is whether France can afford to lose North Africa. After all, we haven't invested much money in Tunisia, and there aren't many people even buying land there."
"And can United Kingdom, like us, gracefully bid farewell to India?"
Wellesley paused for a moment. The cripple was right; United Kingdom couldn't afford it, which was why he had come to Paris to suffer this humiliation.
He forced a smile, pretending to pick up his teacup to drink water, avoiding Talleyrand's intense gaze. "So, there's no need for either of our countries to continue wasting funds on things that don't concern us, is there?"
He has essentially made it clear that United Kingdom should stop supporting Algiers and Tripoli, France should stop sponsoring Mysore, and everyone should save money and live their own lives.
Talleyrand nodded. "Your proposal is very helpful. Then, shouldn't United Kingdom formally recognize our country's interests in the Maghreb states?"
Marquess Wellesley really wanted to give that cripple a good whack with his cane. France only managed to snatch Tunisia from the chaos, but how come they've included all the Maghreb countries with just a few words? That includes Morocco, which is within the sphere of influence of our British Empire!
"That's completely unreasonable," he said, shaking his head. "At most, we can acknowledge France influence in Tunisia."
"Perhaps it wouldn't be bad for our country to establish some diplomatic relations with Mysore."
"In that case, the Royal Navy could blockade the Strait of Gibraltar at any time!"
"I highly doubt that your country, while grappling with problems in India, has the resources to operate in the Mediterranean Sea..."
"When challenged, the depth of the British Empire will surprise everyone."
"Alright, then let's exclude Morocco. However, our country wants to obtain trading rights in Carnatic, India."
"Your appetite is far too great; it will be harmful to your health, Archbishop. Listen to me, let Mysore withdraw its troops, France will gain Tunisia. It will be good for everyone."
Carnatic was a large state in southeastern India, dozens of times larger than Pondicherry, the France Pondicherry in India. This would break the United Kingdom monopoly on trade with India, something the United Kingdom would never agree to.
Of course, Talleyrand was just asking for an exorbitant price. The France fleet was currently insufficient to maintain trade to the Far East.
"Then return Dominique and Antigua to our country..." Talleyrand was referring to two small islands in the Caribbean Sea that produce Sugar Cane.
"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 concluded their meeting in a very amicable atmosphere, without reaching any agreement.
In reality, this is the norm in diplomatic negotiations. Everyone first tries to figure out the other side's bottom line, then goes back to employ their own tactics, and then continues negotiating. This continues until one side is no longer willing to invest any more time...
Wellesley left Versailles Palace with a gloomy face and wrote a letter from his Carriage to Lord Talmos, the United Kingdom envoy to the Maghreb countries, urging him to urge Algiers and Tripoli to put pressure on Tunisia.
He then wrote to the Governor of India Cornwallis, urging him to concentrate all his forces on a major victory to increase his leverage against the France.
Meanwhile, in the Crown Prince's Bedchamber, Talleyrand also reported the contents of the talks to Joseph.
[Note 1] Talleyrand used an exaggeration here. In reality, at the end of the 18th century, the East India Company remitted approximately Pound Sterling 3 million in domestic taxes back to the United Kingdom each year.