The reason Egypt fell into bankruptcy was actually quite simple.
Ever since it had effectively broken away from the Ottoman Empire, Egypt had sought to completely sever its remaining ties.
The Ottomans, on the other hand, could not allow that. If Egypt were to break away entirely, they would no longer be the "sick man of Europe," but a corpse.
As a result, Egypt sought to strengthen its national power and pursued modernization.
But modernization required money.
And there were only a few nations capable of lending such sums, namely the British Empire and France.
Both were willing lenders. Keeping Egypt in debt was not a disadvantage to them.
Up to that point, everything was normal.
The problem began when opportunity appeared.
The American Civil War.
I had even hinted to Egypt in advance that war was likely to break out, and that cotton exports from the South might collapse.
Anyone quick-witted would think the same thing.
If we produce cotton, we can profit immensely.
Egypt was well suited for cotton production.
The moment they heard this, they began expanding production aggressively.
And as expected, profits soared.
Originally, India was also meant to expand cotton production, but I deliberately restricted it, allowing only enough for Britain's needs.
As a result, Egyptian cotton experienced an enormous boom.
Egypt then committed fully to it.
A nation already struggling with chronic deficits suddenly found itself making immense profits.
Naturally, it did not use that money to stabilize its finances.
Instead, it pursued even greater ambitions.
Determined to surpass the Ottomans, Egypt launched massive development projects.
It reinvested everything it earned and borrowed even more.
It stepped onto a path with no return.
This was how the world worked.
Those with little money could only borrow small amounts.
Those who accumulated vast debt did so because they possessed assets that allowed it.
Egypt had reached that stage.
To be fair, Egypt did not act blindly.
It calculated carefully.
It analyzed the war, predicted its duration, and adjusted its borrowing accordingly.
When France and Prussia entered the war, it became clear that the conflict would drag on.
Egypt relaxed.
It concluded that it could safely expand production and debt without limit.
At that moment, the Royal Bank of Canada I had established stepped in.
"Our bank offers lower interest rates to attract new clients."
Egypt, convinced it could repay everything with cotton profits, borrowed aggressively.
Then everything collapsed.
The war ended earlier than expected due to British intervention.
At the same time, I ensured that the South would supply cotton at low prices for two years.
India also resumed production.
The result was inevitable.
Egypt's cotton industry collapsed.
Its goods no longer sold.
It could not even pay interest.
Unlike Spain, which could still extract wealth from its colonies, Egypt had no means of repayment.
Its largest creditors were now the British government and the Royal Bank of Canada.
Bankruptcy was inevitable.
Prime Minister Charles Wellesley immediately began applying pressure.
Together with France, he moved to establish financial oversight over Egypt.
At the same time, demands for repayment intensified.
A few days later, the Egyptian ambassador, pale as a corpse, visited me.
"Your Highness, I apologize for coming so late. I should have come sooner…"
"It is fine. I heard you have been occupied with the Prime Minister. Please, sit."
I served him iced coffee.
"Let us speak plainly. Can your government repay the loan on time?"
"…Your Highness…"
I shook my head.
"That is difficult. I even offered favorable interest rates. Yet even interest payments have been delayed."
"We are deeply ashamed. But our financial situation…"
"Why should I consider that? Or are you suggesting this situation is our fault?"
"No, not at all. It is just that cotton prices have collapsed…"
"The South is supplying cotton cheaply as compensation. India has simply resumed production."
Egypt could not blame us.
It had taken the risk itself.
The ambassador could only plead.
"We plan to accept financial oversight from Britain and France. What about Canada?"
"That is unnecessary."
"…Pardon?"
"If you cannot repay, we will simply take collateral."
The ambassador fell silent.
"That is how loans work."
I had already calculated everything.
"If Egypt sells all its shares in the Suez Canal, it will almost cover the principal."
"…All of it?"
It was true.
The canal shares were divided between the royal family, private investors, and Egypt.
But in reality, I already controlled the majority.
"With that, the remaining balance can be forgiven."
"…Is there no alternative?"
"No."
Egypt had no choice.
In the end, it signed the agreement.
All its Suez Canal shares were transferred to me.
"Wise decision."
"…Please also speak to the British government on our behalf…"
"Do not worry. I will ask them not to be too harsh."
The ambassador thanked me repeatedly.
After seeing him off, I prepared to leave.
"To Oxford University."
The war had shaken the world more than expected.
Even Britain required time to respond.
But in times like this, those who moved fastest gained the most.
And more importantly, actions needed a guiding framework.
France and Prussia were already acting recklessly in pursuit of colonies.
That path would lead to problems.
To avoid that, I needed a solid theoretical foundation.
Fortunately, I had someone capable of producing it.
Karl Marx.
Rather than summoning him, I chose to visit directly.
As I approached his study, I heard raised voices.
"Do you not realize this is betrayal!"
"…That voice…"
I signaled my attendants to remain silent.
Peering through the open window, I saw them.
Karl Marx and Friedrich Engels.
Two of the greatest figures of their age, locked in a heated argument.
Betrayal. Capitalist dog.
I had come to check on his research.
Instead, I found something far more interesting.
For now,
I decided to watch.
***
An ideological conflict with a close friend of half a lifetime.
For a brief moment, Karl Marx felt memories from long ago pass through his mind.
"…You are truly allowing me to access all the materials I want?"
"Of course. I will assign you a secretary, so just tell them which books you wish to see. And from time to time, I would like to hear about your progress and discuss your work together."
"Thank you, Your Highness. I do not know how to repay this kindness…"
"You can repay it by publishing a work that benefits the world. Do not forget that."
The youthful dream of a communist utopia.
Now that he had found a realistic path toward it, Marx trembled with emotion.
"Everything in this world is connected to the economy. Without understanding it, no system can remain consistent."
"Mr. Marx."
"Mr. Engels, pursuing communism is fine. But without a solid theoretical foundation, it becomes nothing more than empty words. History has already proven that. The world now runs on capital. I will fully understand this force and present a new discourse that transcends it."
Improvised logic would achieve nothing.
Why had the revolutions in France and Germany failed?
Why had Britain remained stable while revolutionary movements spread across Europe?
Why were those who spoke of revolution in this country treated as dangerous elements?
All of it was connected to economic logic.
Marx had originally planned to devote himself to study at the British Library.
But everything changed when Killian provided him with unparalleled support.
Not only access to books, but also real statistical data, practical reports, and detailed records of how theory translated into reality.
Without realizing it, Marx was transforming into a scholar who combined theory with practical understanding.
Moreover, Killian continued to meet him regularly for more than a decade, listening to his ideas and offering advice.
As Marx's knowledge deepened, he came to realize that Killian's insight far exceeded his expectations.
The more he understood what he called capitalism, and the clearer the path toward communism became, the more influence these discussions had on him.
"…So this assumption of mine is entirely incorrect."
"It may hold true within Europe, but it does not apply to the broader history of humanity. Across the world, your theory risks being criticized for forcing European structures onto human nature."
"…That is a blind spot caused by my lack of knowledge of Asian history."
Marx had intended to argue that economic systems evolved from primitive communism to slavery, then feudalism, and finally capitalism.
But Killian pointed out examples from Asia that did not fit this framework.
Even in philosophy, his guidance helped refine Marx's ideas.
"I am a scholar, not a revolutionary. I do not intend to dictate the path forward for a communist society."
"But those inspired by your work may think differently. Many of your writings are rooted in materialism, yet they are also philosophical in nature. That leaves room for interpretation."
"Is that a problem?"
"It is not inherently bad. But as your ideas spread, they may be twisted into dogma. There is no guarantee that others will not misuse them."
"That would not be my responsibility…"
"If you were unaware, perhaps not. But now you are. If you ignore it, some may say you created an opiate of your own."
Marx fell silent.
He had often criticized religion, yet he had never seriously considered that his own ideas might be used in a similar way.
"Dogmatic societies, where ideas are distorted and used to gain power, where opposition is purged and dissent silenced. Does that not resemble the corruption of religion at its worst?"
"I do not believe religion was created to deceive people."
"Of course not. Yet its teachings are often ignored, and people act against them anyway."
"…But I cannot abandon my convictions."
"You should not. But you can warn against misuse. That would strengthen your theory."
Marx understood.
Preventing the abuse of an idea was itself part of establishing truth.
And a theory that accounted for its own misuse would stand on a higher level.
"I understand. I will take your advice seriously."
"In that case, consider studying this next."
"…The end of the colonial economy?"
"European powers seek colonies. But is exploitation alone sustainable? It may collapse even faster than capitalist exploitation."
"That is an interesting perspective."
From Marx's point of view, this too was part of humanity's progression.
Though the full theory was shared only with a few, simplified versions spread widely.
His reputation continued to grow throughout the British Empire.
In his youth, Marx had believed that the dictatorship of the proletariat was an inevitable stage.
But now, he no longer fully held that view.
Killian had argued that such a system would inevitably become oligarchic.
Marx could no longer deny it.
"Power is like a drug. Even small amounts reveal a person's nature. What do you think happens when someone controls an entire nation?"
"…Does that not apply to you as well?"
"That is why I do not seek more power."
"…."
"You would understand if you held power yourself. Many speak of ideal governance without ever experiencing reality."
Marx realized something important.
True change could not rely on individuals alone.
It required systems.
"What do you think of socialist revolutions in underdeveloped societies?"
"They are disasters."
"…Disasters?"
"How can an agricultural society build communism? Without the necessary foundation, it collapses."
"…Then such revolutions become tools for purges."
"Exactly."
Communism required a mature economic base.
Without it, even the best ideas would fail.
This realization transformed Marx further.
His sense of purpose deepened.
Scholars and students gathered around him.
Recognition came from all directions.
With Killian's financial support, his lifestyle also changed.
Fine wine, good food, comfortable living.
To outsiders, it seemed contradictory.
A man speaking of labor exploitation while living in luxury.
But Marx separated theory from personal life.
Soon, people began calling him the father of capitalism.
He did not correct them.
He believed he would define both capitalism and communism.
However,
"Do you not realize this is betrayal!"
Friedrich Engels pointed at him in anger.
Marx looked at him calmly.
The friend who once seemed steadfast now appeared naïve.
The conflict between them had begun.
***
It was not as if Karl Marx and Friedrich Engels had always been on good terms without conflict.
More often than not, Engels would become angry but eventually forgive Marx, which in itself suggested that most of their disputes were caused by Marx.
There was even a famous anecdote. When the woman Engels had lived with died, he wrote to Marx, only to receive a reply that essentially said, "That must be sad. By the way, I am short on money, so send me some."
It sounded exaggerated, but it was well known.
That alone showed what kind of person Marx could be. In most of their arguments, it was reasonable to assume Marx was at fault.
However, the argument I was hearing now was not about personal matters.
"Look at what you are doing now. This is nothing more than a servant of capitalism. Who would still see you as the Marx of the past?"
"It is only natural to be different from the past. People must grow and develop. Are you saying I should remain bound to old ideas forever?"
"Growth? This is not growth. It is betrayal."
Their voices carried clearly outside.
Even without hearing the beginning, it was obvious what the issue was.
Marx had recently been studying the development of capitalism, and to Engels, that appeared as corruption.
At a time when unity and revolution should be emphasized, Marx was instead writing about capitalism.
For Engels, that was unacceptable.
"Engels, I told you before. At this stage, a communist revolution is nothing more than empty idealism."
"Was it not your role to create that ideal, and mine to organize and complete it? That is what I believed."
"That was true. But continuing with that approach will only lead to failure."
Marx had changed.
He was still a genius, but now his direction had shifted.
For more than a decade, I had guided him, showing fragments of future systems and providing resources he could never have obtained alone.
Naturally, others did not know this.
To them, Marx simply appeared to have been corrupted by wealth.
"Do you know how your words sound to others?" Engels asked.
"How would I know? I am not them."
"You have obtained British citizenship and even a knighthood."
"It is recognition of my academic achievements. Why would I refuse?"
"You live in a mansion in London's wealthiest district, employ servants, and host gatherings with women."
So he even held private gatherings.
That was new information.
"To clarify, only refined and educated individuals attend my gatherings. Nothing improper occurs."
"That is not the point. To others, you are no different from the capitalists you criticize."
Marx scoffed.
"Coming from you, that is amusing. By your standards, you are not free from criticism either."
"The scale is different. You live like an aristocrat."
That was not entirely wrong.
Marx had always enjoyed luxury.
Even now, despite his ideals, he lived comfortably with financial support.
"Should I deny my nature?" Marx replied.
"If you are not corrupted, then prove it. Present the theory of communism you once spoke of."
Marx shook his head.
"What I am doing now is the fastest path to true communism."
"That is nonsense. You wrote a paper at Killian's request and used the reward to buy your wife an absurdly expensive diamond ring."
"I simply wished to repay her for her hardships."
The argument continued in circles.
Engels accused Marx of abandoning his ideals for wealth.
Marx insisted the two were separate.
Neither would yield.
Finally, frustration crept into Marx's voice.
"Friedrich, let us have a constructive discussion. Did you not once agree that His Highness was capable of realizing a dictatorship of the proletariat?"
"I did. I believed he could end this corrupt system."
At that, even my attendants glanced at me awkwardly.
Fortunately, Engels immediately corrected himself.
"But I was wrong. He has no intention of taking on that role."
That much was true.
"I agree with him on one point," Marx continued. "Society will change. Capitalism is flawed. To survive, it must adapt and incorporate elements of socialism. When it reaches its limits, the path to communism will open naturally."
"So you will do nothing?"
"I will guide society. Change does not come through forced revolution."
"Then your words are nothing more than defeatism. You claim revolution will fail without even trying. How do you know? Have you seen the future?"
Well, I had.
But there was no point saying that.
Engels slammed the table and stood.
"I understand now. My friend Karl Marx is gone. The man before me is no longer him."
"You are free to think so. But read my work again."
"I hope you come to your senses."
With that, Engels stormed out, slamming the door behind him.
Silence followed.
Then a long sigh from Marx.
As expected, ideological conflict rarely ended cleanly.
Still, this outcome worked in my favor.
With Engels gone, there would be fewer obstacles.
I waited a few minutes before signaling my attendant.
Knock.
"Professor Marx, His Highness has arrived to see you."
Outside, Engels walked away, anger still burning.
"My friend is gone. But his ideas remain."
He still held the manuscripts they had worked on together.
But now, he questioned whether Marx's name should remain attached.
If the original author had changed, should the work not change as well?
For the first time, Engels made a decision.
He would step forward himself.
The theory would be completed.
The movement would continue.
And so, Friedrich Engels left London.
To build a new doctrine.
Engelsism.
A weapon for global class struggle.
***
Where there is light, there is shadow. Where there is brightness, there is darkness. Such is the nature of the world.
As capitalism emerged and its early excesses accumulated, it was only natural that more people began to dream of communist revolution.
Karl Marx was the most prominent figure, but he was far from alone. There were already many well-known communists, and even more radical revolutionaries who simply wanted to tear down capitalism altogether.
The British Empire stood somewhat apart from this trend, but across Europe, social dissatisfaction was clearly approaching a breaking point.
If even a worm writhes when stepped on, what would happen when people were worked to death?
Slogans calling for an end to proletarian exploitation were nothing more than the inevitable consequence of early capitalism.
"Your Highness, what brings you here? If it is about the paper you requested, it is about halfway complete."
"Is that so? Just as expected. By the way, I heard quite a commotion earlier. Did something happen?"
"…Engels came to visit."
Marx did not try to hide it.
Perhaps he knew I would find out anyway.
He explained everything that had happened and then asked for my opinion.
"What do you think?"
"You mean Engels?"
"Yes. I believed he would understand my reasoning. Given his intellect, there is no way he could fail to grasp it."
"He is consumed by revolutionary zeal. This is not a matter of logic, but ideology."
There was nothing more dangerous than ideological conflict.
Once people became obsessed, even family could be cast aside.
"Your Highness, what do you intend to do about Engels?"
"Do? What should I do?"
"You said that premature communist revolution would only lead to disaster. I am concerned for him."
"You worry about a friend?"
"…Engels has helped me greatly in the past."
That was unexpected.
Still, his concern was understandable.
Engels had left in a state of fury, declaring that Marx was no longer the man he once knew.
"I would not worry for now."
"…But he is heading toward disaster."
"Anyone can run. The question is whether they reach the goal."
"Engels is capable. His knowledge of economics, philosophy, and politics is considerable."
Of course it was.
I knew that better than anyone.
"I told you before. A poorly executed revolution would only bring harm. But what should be done about someone who might cause such harm depends on you."
"…You want me to persuade him?"
"No. That would not work. Let me ask you instead. Do you think Engels will create an entirely new theory?"
"…No. He will likely reorganize my earlier ideas."
Exactly.
Engels was deeply influenced by Marx's earlier theories.
He would not suddenly create something entirely new.
He would compile and present what already existed.
"But such a theory could still inspire revolution."
"Only if you do nothing."
That was the key.
Without Marx's intervention, Engels could become a leading figure.
Communism was already spreading across Europe like a poisonous gas.
Even without Engels, others would emerge.
Suppressing one would not end it.
In fact, more radical and dangerous ideas could take its place.
Sometimes, imperfect ideas were more dangerous than refined ones.
That was why I had not stopped him.
In truth, I saw this as an opportunity.
"Your Highness… I do not fully understand. Do you intend to let him rise and then destroy him?"
I laughed.
"You are more ruthless than I am."
"Then why allow this?"
"Because there is no central force among communists. They are scattered, united only by dissatisfaction."
In such a state, even suppression would achieve nothing.
The upper classes would not react either.
Without a clear threat, they would not change.
But if a unified movement emerged,
then fear would follow.
And fear would force reform.
"That is the role Engels will play."
Marx slowly nodded.
"I see. You intend to let him become a central figure."
"Yes. His theory will attract followers. It will spread widely."
"And then?"
"When the time comes, we respond."
With reforms.
With counterarguments.
And most importantly,
with Marx himself.
"Marx, I want you to do something."
"What is it?"
"Systematically demonstrate that the theory Engels presents is flawed."
Only Marx could do it.
No external criticism would work.
It would be dismissed as manipulation.
But if the creator himself dismantled it,
the effect would be devastating.
"Engels' work will be exposed as inconsistent and incomplete. It will collapse under scrutiny."
Marx was silent for a moment.
"…You intend to use him."
"For the greater development of society."
"…As his friend, that is difficult to accept."
"If you refuse, I will act differently. I will not kill him, but I will isolate him from society."
Marx hesitated, then nodded.
"…Understood. I will do it."
"Good."
Everything was now in place.
A rising movement.
A flawed doctrine.
And the means to destroy it.
All that remained,
was timing.
So, Friedrich,
rise as high as you can.
The fall will be all the greater.