Reincarnated as Nikolai II - Chapter 274

Chapter 274: The Union of Broken Bones (8)
The current situation of the United States and Russia seems to be divided into these two cases.

‘They’ve also had unemployment rates that haven’t dropped for five years. They’ve often been over 10%.’

The old-fashioned state, the Russian government.

They too have blood pooling in their mouths.

However, they’re trying to cover it up with public policies and pretending not to be in pain, enduring with painkillers called government financial and monetary policies.

Meanwhile, the United States, having been hit in the solar plexus:

‘…They’re on the verge of death.’

They’re not breathing.

They’re gasping for breath irregularly, but can this even be called breathing?

Isn’t this closer to a state of barely surviving, not yet dead?

“President-elect, how shall we organize the transition committee?”

“I’ll replace everything, so we need to form a new one. There won’t be a single position retained.”

Hoover failed.

He relied on the private sector until the end and couldn’t break free from past economics.

When the flames of the initial depression were spreading, Hoover was too preoccupied with the Teapot Dome scandal to contain the fire.

The National Credit Corporation he ordered private banks to create in 1931, when the Great Depression was deepening, failed miserably and instead sowed distrust among banks, breaking their solidarity.

His protectionist policies, tariff laws, and dollar protection, while well-intentioned, plunged this country into chaos. The policies were too drastic to endure.

Finally, Hoover and the Republicans:

“They should have deregulated.”

In the end, they didn’t trust the market.

Banks don’t go bankrupt due to bad loans.

There are overwhelmingly more cases of bank runs, where deposits flow out like the tide due to citizens’ distrust.

The same applies to other situations.

The National Credit Corporation, expected to function like the Federal Reserve Bank?

The Reconstruction Finance Corporation, which consumed $2 billion but only provided temporary relief?

The Federal Home Loan Bank Act of 1932, hastily created in response to the mockingly named Hooverville shanty towns?

None of them gained public trust. Meaning they couldn’t prevent bank runs.

“So I’ve been truly curious for the past three years. Was it desperation for re-election, or since re-election wasn’t possible anyway, did you just act recklessly?”

“…How rude.”

“As I have to clean up your mess, please forgive this much rudeness.”

The two men meeting for the first time at the transition committee after the November election.

While Hoover pretended to be indifferent to his overwhelming defeat and puffed on his cigarette, the man standing before him crossed his legs and rested his hands on his knees.

“When you pushed our veterans away with tanks, causing a woman to miscarry and injuring hundreds of people in that catastrophe, I was secretly delighted. Ah, I’ve won.”

In a setting with just the two of them.

Although mutual dislike and election hostility remained, they could be honest knowing this would be their last personal meeting.

“But it occurred to me: the Hoover Dam has good performance even though it’s still two years from completion, so why not do more?”

“What do you think?”

“Because an unpopular president only received $2 billion in congressional approved budget. It would take $20 billion to become your achievement. Isn’t that right?”

“To put a positive spin on it, it’s because it’s difficult to get $20 billion. Who would increase national debt to put such a budget in my hands?”

Despite the harsh criticism, the more it continued, the less Hoover showed signs of displeasure.

“Can you obtain it?”

“I must. Because that’s the answer.”

“Ha! Did you come back from seeing the future?”

“I’ve just looked around. I learned that public policies so overwhelming that one can’t come to their senses can paralyze a nation’s reason.”

Why is Russia fine?

The answer is ‘they’re not fine either.’

The power and authority of a strong central government doesn’t allow even regional decline, maintaining the current situation.

It’s not that they alone are growing and thriving while everyone else is groaning. They’re just enduring.

Until when?

Until everyone else withers and dies.

‘Just as the Eastern Front was.’

That’s how that country stands tall above other nations.

“Hehe. Listen, candidate. No, President-elect.”

“Go ahead.”

“I admire your spirit, but there’s something you shouldn’t misunderstand.”

“What is it?”

“We are not an empire, but a republic. Meaning nothing will go as you wish.”

Looking at the next president confidently proclaiming he would be different in front of the loser, Hoover smiled.

“In the face of a temporary crisis, centralization of the federal government is necessary.”

“Like Wilson did during wartime?”

“That’s right.”

“Is that why Wilson died after just one meeting with the Tsar? Craving power without knowing his place?”

“…Despite your departure, you should watch your words.”

The United States, the most progressive country in the liberal democratic camp.

Even Hoover, who had risen to lead the United States, now reached a point of uncertainty.

Is this democratic system really right? Is this really the best option?

Despite trying to inspire patriotism and ruminating on this country’s proud history, Hoover couldn’t tell.

From his youth, Hoover had heard rumors about that country a few times.

A country that still used wooden plows when tractors were being introduced to farms.

A country that still mainly used coins when newspapers were buzzing about the issuance of $1,000 bills in 1891.

Such a country now looks down on the United States during this depression.

‘Wilson, did that fellow feel exactly what I’m feeling now?’

This isn’t simply the jealousy of someone falling behind, nor is it a sense of helplessness from doing nothing.

This is… close to the fear of staring into an endless darkness as a child.

The expanded version of the Hoover Dam construction that he advocates, the New Deal.

I’m not sure what its outcomes will be.

However, unlike himself, the difference is that the new president can secure a $20 billion budget.

Nevertheless, even in the moment of his departure after defeat, Hoover felt he could smile after four years.

The sense of liberation from finally escaping endless pressure.

And the expectation rises that the day will come when this confident young president will feel the same emotion that Wilson and himself felt.

“Go ahead and do well. I’ll be watching.”

That’s why Hoover could smile in front of the frowning Roosevelt.

It was also a smile mocking his past self, who knew nothing and was happy right after winning the election.