Translator: Cinder Translations
...
Eileen's suggestion made Paul chuckle.
He waved his hand and said, "Theoretically, it's entirely feasible, but at this stage, it's not operational."
Eileen pouted and asked, "Why?"
Paul shrugged and explained, "Didn't I say this earlier? The amount of currency in society must maintain a dynamic balance with material wealth. Too much money and too few goods will cause inflation, while too little money and too many goods will lead to deflation. I think people still lack the ability to reasonably quantify the total wealth of society, so we can't judge how many paper bills should be printed each year. One wrong move, and the kingdom's government's credibility could be shattered."
"And public acceptance is a big issue too. If we suddenly declare that a pile of paper has the same value as real gold and silver, people will just think the government is robbing them."
"So, for now, we can only try it within the military, which has high obedience. Plus, it's a small-scale trial, and any problems can be easily controlled and fixed."
"Alright!" Eileen said, feeling a little discouraged. "Looks like I can't rush this. I wonder if I'll ever see a day when people use paper money in the streets."
"Ah, Paul," Catherine turned to her fiancé, her gaze unusually soft, "You should really present this idea to His Majesty as soon as possible."
——
"Considering all of the above, I think this plan could effectively solve the government's military funding shortage, and it's worth trying."
At the court meeting called by King Rodney the 18th, Paul spoke confidently, detailing his idea for military notes.
After discussing it with the two princesses, and with Catherine urging him, Paul went to the king that same day to reintroduce his not fully-formed idea.
King Rodney the 18th listened carefully to Paul's explanation, showing great interest in the idea.
After thinking it over for a day, the more he considered it, the more feasible he felt the idea of using paper-based military notes to replace military pay seemed.
Once he had mentally approved it, King Rodney the 18th eagerly convened a court meeting.
After hearing Paul explain it again in front of the ministers, King Rodney the 18th asked, "What do you think, everyone? I'll start by saying my opinion. I think Earl Grayman's idea is a good remedy, and I believe we should try it."
The ministers had mixed reactions. Paul's talk was full of new concepts—such as general equivalents, inflation, and deflation. Some ministers were lost in confusion, others frowned, and a few had an epiphany.
After some murmurs, Earl Nayk Scarlet stood up and agreed, "I support the king and Earl Grayman's idea. We should give it a try."
As the kingdom's finance minister, any idea that involved less spending from him was a good one.
Earl Merlin, the intelligence chief, spoke up, "Your Majesty, if this is not handled properly, it could lead to soldiers mutiny, and that would be disastrous."
As the head of intelligence, he instinctively warned against any potential dangers.
King Rodney the 18th said, "But we can't abandon a good idea just because of a potential danger that hasn't happened yet."
"Ah, you're right, Your Majesty. What I mean is we should proceed with caution."
Prime Minister Rupert said, "I also think Earl Grayman's idea is worth trying. And from a certain perspective, the military notes could essentially tie the soldiers to the kingdom's government."
"Tied?" The others looked at the Prime Minister in confusion.
Rupert explained, "Think about it. These military notes are issued by the kingdom's government, and currently, only the kingdom's government will recognize their value. If a soldier were to defect, carrying military notes to Giles' territory, would he be able to buy anything there? No, the notes would be worthless, and his wealth would be nullified!"
"That's a great point!"
Rupert's words sparked realization in everyone.
Even Paul was surprised. He hadn't considered this angle when thinking of military notes purely as a solution to the shortage of metal currency.
The Prime Minister was truly a shrewd person.
King Rodney the 18th was pleased. He had discovered another clever use for the military notes. He looked at the group, "Is there anyone with any other opinions?"
No one objected. It seemed Rupert's explanation had convinced everyone to support the idea.
"Alright, then. Earl Scarlet," King Rodney said.
"Your Majesty!"
"You will be tasked with studying the military notes—how many denominations should there be, what the value of each should be, what patterns should be printed, and what goods they can be exchanged for. I trust you will consult with Earl Grayman before he leaves the capital."
"Yes, Your Majesty." The finance minister accepted the task.
"As for who should print the military notes..."
To research a new type of paper, in large quantities...
It would require a company with both papermaking and printing expertise...
King Rodney the 18th looked at Paul. "If we need the military notes quickly, it seems we have no other choice."
Everyone turned to Paul. Now they all knew that the Northwest Bay's papermaking and printing techniques were the most advanced.
Since the idea of military notes was proposed by Earl Grayman, many couldn't help but suspect he had personal interests in this field.
Some even cast teasing glances at Paul.
Damn!
Feeling the gaze of others, Paul cursed inwardly. He should have let King Rodney the 18th reveal it in the meeting, so he could take the credit quietly.
"Earl Grayman, I believe you should prepare for this. I hope Earl Scarlet will finalize the plan, and then you can print the notes immediately."
Since the king had spoken, Paul couldn't refuse without looking hypocritical.
Paul responded, "Since Your Majesty trusts me so much, I'll begin preparing right away, but I'd appreciate it if you could recommend a skilled seal engraver."
King Rodney the 18th nodded, "I'll have him bring the plan to you."
Paul leaned closer to the king, who was sitting next to him, and whispered, "Your Majesty, just to confirm, this... is a business transaction, right?"
King Rodney the 18th frowned and replied softly, "Of course. I'm not going to let you work for nothing, but I hope you can give us a discounted price."
"Oh, definitely, Your Majesty. I won't include the cost of research in the price."
Paul relaxed, sitting up straight.
Even though the task was assigned to Paul, King Rodney the 18th still felt uneasy.
Exchanging real gold and silver for a pile of paper? If it were the old him, he would have considered it a mad idea.
Sigh, he hoped the military notes would truly have the huge impact they envisioned.
(End of the Chapter)
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