In September 1904, after the outbreak of the war, the Japanese won consecutive victories, but at this time, the Japanese Prime Minister Katsura Katsura did not show the slightest excitement, but looked worried!

Not only him, but all people of insight in Japan know that if this war continues, it will not be worth the loss for Japan!

That's right, since the beginning of the war, the Japanese army has progressed smoothly, and both the sea and land armies have achieved remarkable results. Regardless of the price paid, there is now a stalemate in the Russo-Japanese War.

Obviously, the Japanese government has realized that the cost of war is too high, and it may not be able to achieve its goal!

History once again had a turning point. Due to the impact of the Balkan Wars, the Russians realized the importance of firepower. The Russian army was equipped with a large number of machine guns and artillery.

The Russian army in the Far East was less affected, and its equipment was still very backward. At the beginning of the war, it was suppressed and beaten by the Japanese army.

But in June, the situation improved. While the Russians increased their troops in the Far East, they also had a large amount of weapons and equipment.

Machine guns and artillery arrived in the Far East with reinforcements. Of course, the arrival of these new weapons also increased the logistical pressure on the Russian army.

If it is not restricted by logistics, the current Northeast battlefield may not be a stalemate, but a counterattack by the Russian army!

"Let's find a way to make peace with the Russians!" Ito Hirobumi said with a wry smile

What he was most worried about happened. The tsarist government was not the Manchu Qing government, and a few victories would not frighten them!

Even if Siberia is lost, the foundation of the Russians cannot be shaken, let alone a mere port of Lushun?

What's more, they have only managed to encircle Lushun Port, and they haven't had time to conquer it yet?

Oh, the Russians in Lushun Port still have hundreds of machine guns, which are distributed and deployed in various fortresses. Before they run out of bullets, they must take down Lushun Fortress, unless the Japanese are willing to learn from Ferdinand and attack Constantinople. Wash the floor directly with shells!

But this is unrealistic. Japan's industry in this era is terribly scumbag, and heavy industry is even a scumbag fighter! Weapons and ammunition still need to be imported. Wouldn't it kill them to spend millions of pounds on a Lushun port?

From the outbreak of the war to the present, the Russian Pacific Fleet has been disabled, and the Army has also lost 40,000 to 50,000 people, but there are so many gray animals that can't stand it?

Hirobumi Ito's words were supported by Aritomo Yamada. In fact, the senior officials of the Japanese government are not fools. Wouldn't it be boring to fight a war of attrition with the Russians?

Although everyone's finances are not rich, the Russians are still working hard on expeditions, and their military expenditures are higher. However, with the victory of the Japanese army on the battlefield, their front has also been stretched.

Because the Siberian Railway is not open to traffic, the Russians have to manually transport supplies for hundreds of miles. Now the traffic in the Northeast is not much better, and the logistical pressure on the Japanese is not small!

These are small issues, money is the big issue! From the start of the war to now, the military expenditure of the Japanese government has exceeded 25 million pounds. This has passed the Sino-Japanese War and the same period in history.

This is all caused by the Ferdinand butterfly effect. Whether it is a heavy machine gun or a cannon, they are all gold swallowing beasts, not suitable for poor people to play!

Moreover, the victory of the Japanese army also came at a price. As the offensive side, the losses of the Japanese army were actually higher than those of the Russians, especially since winter is coming!

Although the arrival of winter will hinder the transportation of the Russians, the winter in the Northeast is not so easy. Fighting at temperatures tens of degrees below zero, no army in the world dares to compare with the bear!

The Russo-Japanese War is also a miracle in military history. The Japanese, who had the upper hand, were eager to make peace, while the Russians, who were retreating all the way, seemed very calm!

Now the Tsarist government has just sent an expeditionary fleet to the Far East, and Ferdinand knows that Nicholas II intends to solve the Japanese problem once and for all.

He also sent away the Black Sea Fleet just now, which is a huge fleet consisting of eight battleships and 36 ships, with a total tonnage of 280,000 tons. This is all the property of the expanded Black Sea Fleet!

Ferdinand's butterfly effect worked again,

Since the Russians have mastered the Dardanelles and have greatly expanded the Black Sea Fleet in recent years, the British hegemony in the Mediterranean is already facing severe challenges!

The combined fleets of France and Russia in the Mediterranean region have exceeded a quarter of the British Mediterranean fleet in total tonnage.

The Royal Navy is also guilty, if the French and Russian alliances come to them, the British world hegemony will be in danger!

In history, they prevented the Black Sea Fleet from entering the Far East in order to help the Japanese, but this time after Ferdinand's trip to London, the British changed their attention.

The London government decided to let the Black Sea Fleet leave, but now it can leave through the Suez Canal, don't even think about coming back!

Of course, the Black Sea Fleet moved, and the Russian navy in the Baltic Sea stayed. It doesn't take the Russian navy to come out to deal with a Japan!

"Your Majesty, the Black Sea Fleet has passed the Suez Canal. It seems that the London government has given up on the Japanese!" Foreign Minister Megev said excitedly

After all, the Russians have invested more power in the Far East, and their power in Europe will naturally be less, and the importance of Bulgaria can be highlighted even more!

Ferdinand smiled slightly and said, "Don't worry, I'll wait and see!"

He knew that the deal with the British was completed. Although the Russian Second Pacific Fleet has just entered the Red Sea, the fate of the Russian Navy is already doomed!

Regardless of the fact that Britain is very cooperative now, it will be difficult for the Russians to get supplies once they pass the Suez Canal.

If it weren't for the presence of French allies, Ferdinand doubted whether the Russians would be able to go to the Far East. After all, few companies in the world hope that the Russians will win!

This also includes the allies of the Russians. Both the French and Ferdinand hope that they will lose, but they can't be defeated and hurt their vitality.

For this reason, the French are not keen on supporting the Russians. Apart from providing loans, they are very indifferent in other aspects!

On the contrary, Bulgaria provided them with greater help, and Ferdinand even allowed the Russians to owe strategic materials on credit!

Oh, during the Balkan Wars, the Russians also allowed Bulgaria to pay on credit, and now Ferdinand has to replace this favor!

Besides, the Bulgarian government still owes the Russians loans? It can be used to offset it, Ferdinand said that it is the same!

Now half of the heavy machine guns and one-third of the artillery on the Far East battlefield are second-hand goods provided by Ferdinand! Anyway, after the Balkan War, the Bulgarian military sealed up a lot, so it was destocked.

Not to mention ammunition, the Bulgarian arsenal is like the Russian arsenal, producing whatever is lacking on the front line!

It has to be said that the Russians made the right choice this time, instead of blindly increasing their troops, they prioritized logistical transportation.

This also sounded the alarm in Ferdinand's heart. The great powers are good at learning. In history, the Russian army respected hand-to-hand combat, and the Japanese were regarded as rivals!

Now stimulated by the Balkan War, the concept in the Russian army has actually changed, and then the Japanese will be miserable.

Originally, their army still had the upper hand, but now the tragedy has revealed that it is okay not to attack, and the attack is machine guns + trenches + steel barbed wire, how can this battle be fought?

At least General Nogi Xidian, the self-proclaimed military god of the Japanese later generations, was confused. He attacked Lushun Port with 3 divisions, 2 reserve regiments, and 2 field artillery brigades with a total of 56,000 troops and 386 cannons. .

Even if the unprecedented "meat bomb suicide tactic" is adopted, it is still futile and has to ask for help from the country. After all, it is not easy to rush to the machine gun!

Not contrary to Ferdinand's expectations, Nicholas II directly rejected the Japanese request for peace talks. Even if the British came forward to mediate, it would not be enough to make him face!

Oh, Britain doesn't want to stop the war right now. They also hope that the Japanese navy will continue to work hard and severely damage the Russian Second Pacific Fleet, so they have to come out to cheer the Japanese government!

The Americans also acted together with the British. The British government came forward to guarantee the Japanese and issued a war bond of 100 million pounds. The United States issued a loan of 20 million pounds to the Japanese government to let the Japanese survive Financial crisis!

Because the outside world is not optimistic that the Japanese will win, especially after the Russian Second Pacific Fleet passed the Suez Canal.

Therefore, the Japanese bonds have been cold in the international market, falling again and again. Even though the British government came forward to guarantee, everyone still doubts the Japanese government's repayment ability!

Investment is to get a return. If it is just to preserve capital, who is willing to invest money in vain? Besides, the repayment date can be up to ten years!

Unless the British government can promise to pay in full, it is obviously impossible. London and the government are not stupid, but the risk of the principal guarantee is already great. If you add interest, the members of Congress will probably go crazy!

The annual interest rate has risen from 8% at the beginning to 27% now. Ferdinand's eyes are extremely hot when he sees it. If he doesn't take advantage of the fire, when will he wait?

Immediately found the unscrupulous friend Edward, the two sides hit it off, and then attracted a group of London capitalists, and a temporary joint consortium appeared.

Go directly to the market to scan goods? Such methods are too low-level!

After the formation of the consortium was completed, they directly approached the Japanese government for negotiation. They wanted to act as an agent, and a one-time package was offered with a 20% discount. There was no extra money, and a handling fee of 3 points was also charged!

If it's too expensive, you don't have to!

Anyway, the Japanese Prime Minister Gui Tailang was so angry that he vomited blood and issued a debt of 100 million pounds. After being drawn by these vampires, he only got more than 78 million yuan, and the high interest was included. He finally realized it. What is international usury!

Moreover, he has no choice. The consortium also has to consider risks. In case the Japanese government fails to do so, they will have to go to the London government to ask for money. This also has public relations costs!

If the Japanese government refuses, it is estimated that there will no longer be another consortium in the world that dares to promise to cover the bottom line. After all, everyone is not optimistic about the Japanese now.

If Japan is defeated, not everyone has the ability to ask the London government for money!

If the Japanese issue their own debts, who knows when they will be sold? Is the front line still fighting? Without using this huge sum of money, what would the Japanese government use to fight Russia?

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