Chapter 36 #2
Ricardo, a brilliant financier and economic theorist, as well as one of the leading stockjobbers on the London Stock Exchange, had recently been instrumental in helping the British government put together its annual package for raising the astronomical sum needed to fund the country’s various needs.
It had been a close-run thing, but Ricardo’s willingness to take a great risk had helped Wellington defeat Napoleon at Waterloo.
“I couldn’t have done so without the help of Lady Cordelia and Raven,” replied Ricardo, accepting a glass of champagne from Tyler and immediately raising it in toast to his colleagues.
After taking a sip, he arched his brows in question at Sheffield.
“Speaking of money, how goes the quest for the Inimitable Banknote? I believe the Bank of England’s call for submissions will soon be judged. ”
“It will, sir,” answered Sheffield. “As for its progress …” He made a face. “That has no easy answer. Granted, we’ve foiled a nefarious plot to win the prize, but …”
Ricardo appeared intrigued. “Do go on.”
“The consensus of the committee appointed by the bank is that Sir William Congreve and the firm of Applegath and Cowper are the leading contenders. They’ve engineered some very sophisticated designs using rose engines,” explained Sheffield.
“However, Wrex and I are aware that Jacob Perkins, the American inventor, has created a revolutionary process for making printing plates—it’s called siderography—as well as a new printing system for the technology that may be capable of producing far more advanced banknotes than his competitors. ”
“According to my sources, Perkins hasn’t come to Britain,” murmured Ricardo.
“We happen to know he has,” interjected Wrexford. “But as we had reason to think he might have been in danger if his presence became public knowledge, we kept it a secret.”
“Ah.” Though Ricardo’s curiosity was clearly piqued, he merely nodded. “Have you seen samples of his work, milord?”
“I have,” answered the earl. “And while I’m no expert, to my eye they appear quite impressive.”
“Perkins and his colleagues have found a way to combine several guilloche designs on one printing plate, as well as add a second—and possibly more—color to a banknote,” offered Sheffield.
“I should very much like to see these innovations for myself—” Ricardo paused as the butler knocked on the drawing room door.
“Milord, your guests have arrived,” intoned Riche.
Wrexford called for them to enter before turning back to Ricardo. “Well, it just so happens that I’ve invited Mr. Perkins and his colleague Jack MacArthur to come by and give us an update, so you’ll have a chance to do so.”
“What an honor, sir!” Jacob Perkins bowed on being introduced to Ricardo. “I greatly admire your insightful ideas on economic theory.”
“And I, in turn, am very intrigued by what Wrexford and Sheffield have told me about your innovations for banknotes. After all, a trustworthy currency is important to a country’s economic stability,” replied Ricardo.
“He says you have created a revolutionary new process. Dare I hope you have brought some samples with you?”
Perkins gestured to MacArthur, who quickly handed over the leather portfolio case he was carrying.
“Perhaps we should move to the breakfast room, where we can spread out the examples of the banknotes for all to see,” suggested the earl.
The idea was met with great enthusiasm, and McClellan hurried on ahead of the procession to move the chairs away from the large table, allowing for everyone to get a close look.
“Mind you, these are merely works in progress,” said Perkins as he began to place the printed samples on the dark-grained mahogany.
“We are still refining the design of each guilloche, and young Jack here is working on engraving a slight variation for the script heading.” A pause.
“We also have another idea to add to the final example, but it’s not yet quite ready. ”
“Ye heavens!” Charlotte had not yet seen any of the samples and was immediately struck by the exquisite detail and the use of colored inks. “These are works of art!”
Ricardo echoed her sentiment as he clasped his hands behind his back and leaned low to study several of the closest banknotes.
“Thank you,” replied Perkins. “I believe that our new technologies and sophisticated graphics are making it more and more difficult for counterfeiters to reproduce our designs.” He let out a long exhale. “But we shall see what the committee thinks.”
“Wrexford tells me you have invented an entirely new process for making printing plates, one which allows you to create multiple geometric designs that can be printed in different colors.” Ricardo looked up.
“I would like to ask for an explanation—I always like to understand how something works—but I fear I’d be entirely lost in trying to follow the technical explanations. ”
“Actually, sir, siderography is simpler than you might think,” ventured MacArthur.
“We use traditional methods—intaglio and relief printing have been around for centuries—and we simply utilize new advances in metallurgy and innovations in the mechanics of a printing press to put them together in a whole new type of printing plate.”
“Not only that, the new technology allows us to make multiple copies of the design onto large-sized plates, so that the banknotes can be printed much more efficiently,” explained Perkins.
“I shall take your word for it, gentlemen,” said Ricardo with a rueful smile. “What’s clear to me is that progress is a wondrous thing, and I applaud the men of vision like you two who dare to think beyond the conventional way of doing things.”
“Do you think you’ll win the prize, sir?” asked Hawk.
Perkins considered the question for several long moments before answering.
“I’m proud of what we have created and feel confident that solution is a good one.
But I’ve enough experience in business to know that decisions often involve a great many complex factors.
So, I think it’s impossible to predict what will happen. ”
He pursed his lips. “We’ll just have to wait and see.”