September 19, 1787 — Royal Palace of Madrid
It was real.
Lancelot had waited for sleep to undo the miracle. But each dawn only confirmed it—he was here. Regent of Aragon. Not just heir to a throne, but steward to a decaying empire in desperate need of rescue.
Now, it was time for work.
He summoned Alicia and two royal scribes into the council chamber. The long table had been cleared of velvet covers and ceremonial clutter. In its place: stacks of maps, legal documents, inkpots, and hastily scribbled drafts prepared the night before.
"Our empire bleeds gold," Lancelot began, gesturing to a large sheet pinned to the far wall. It depicted trade routes snaking from Manila, Havana, and Callao toward Cádiz, the crown's primary port. "But not into our treasury. We are rich in goods, yet poor in revenue."
Alicia nodded slowly, already anticipating the firestorm he was about to unleash.
"Colonies act like sovereign kingdoms. Smugglers thrive with noble protection. And the merchants?" He gave a cold smile. "They pocket the difference while we count copper in Madrid."
He turned to the scribes.
"Write."
The Royal Charter
Lancelot dictated every clause, pacing as he spoke. This would not be another bloated guild compact. It would be the foundation of a new empire—one ruled not by sword, but by seal and ledger.
"Let it be known: All trade beyond Iberian shores shall pass through the gates of this Company, or be deemed illegal. Let no merchant claim exemption. Let no noble profit where the Crown does not."
Name: The Royal Trading Company
Authority: Royal charter under direct oversight of the Crown Regent
Rights:
Full monopoly on colonial and maritime trade.
Authority to issue merchant licenses, build ports, collect taxes.
Power to commission its own fleet and protect shipping lanes.
Structure: A governing board in Madrid, with regional hubs in:
Cádiz (Atlantic and Americas)
Manila (Asia-Pacific)
Havana (Caribbean)
Callao (Peru and silver exports)
Revenue Model: Company profits flow directly into the Crown Treasury through quarterly remittances.
By noon, the charter was complete. The ink was still drying when Alicia whispered, "You're turning commerce into conquest."
Lancelot didn't look up. "No. I'm turning it into survival."
The next step: appointments.
He selected seasoned men—not aristocrats, but professionals.
Governor-General of the Company: Don Hernando Ayllón, a tough bureaucrat with zero patience for excuses.
Treasury Director: Emilio Navarro, a half-Italian prodigy who once corrected a royal accountant mid-audit.
Fleet Admiral: Commander Salas, a navy man with scars from battling Barbary pirates.
Inspector-General: Father Mateo, a sharp-eyed cleric who believed God hated fraud.
"Let them report only to me," Lancelot told Alicia. "They are going to be my shadow cabinets."
The next morning, criers stood in plazas across Aragon, Cádiz, Seville, Valencia, and all major ports. With scrolls in hand and guards by their side, they read aloud:
"By royal decree, all trade in gold, silver, silk, tobacco, sugar, spices, and wine shall pass solely through the Royal Company.
Any merchant or noble found trading without license shall forfeit their cargo, vessel, and privilege in the name of the Crown."
Shockwaves followed.
Old guilds protested. Nobles called it tyranny. But merchants saw something else: order. Profit. Protection.
And many lined up.
Colonial Contracts
Riders set off with charter contracts bound for the colonies:
New Spain
Peru
Cuba
The Philippines
Each viceroy or governor received a proposal:
You will route all goods—silver, tobacco, cacao, and spices—through the Company
In exchange, the Company provides fixed payments, military escorts, new infrastructure, and guaranteed shipping schedules
Three signed within days. The fourth hesitated.
Lancelot sent another rider—with a draft for his replacement.
Licensing Merchants
Merchants across Aragon and Europe flooded the registrar in Cádiz.
Each received a stamped document:
"Licensed Merchant of the The Royal Trading Company—Authorized to trade olive oil, silverware, fabrics, and cacao under royal escort.
Valid for one year. Subject to tariff and inspection."
They paid fees. Agreed to inspections. And began routing their fleets to Company ports.
Smugglers, however, were less cooperative.
Infrastructure and Enforcement
By October, Company workers began laying foundations for:
Warehouses in Cádiz and Manila
Customs offices in Havana
Fortified docks in Callao
Escort ships in every trade lane
The navy was ordered to seize unlicensed vessels.
Three ships were captured off the Moroccan coast—cargo seized, captains arrested.
In Cádiz, a noble family's port was taken over by the Company after refusing to comply.
Lancelot had drawn a line in the sand—and dared the old world to cross it.
The first profit reports arrived in December:
Customs revenue from Havana doubled
Silver exports from Callao were fully documented for the first time in years
Warehouse profits in Cádiz alone surpassed projections by 40%
Lancelot stood before the hearth in the Regent's chamber, the amber light flickering across his face as he read through the first scroll of company earnings. Alicia entered silently, a heavy leather ledger pressed to her chest. She didn't speak at first—just waited as he scanned the figures.
Then, her voice cut through the quiet like a slow-burning fuse.
"Madrid is finally in the black," she said. "For the first time in a generation."
He looked up. "How much?"
She opened the ledger and turned it toward him. Her finger tapped the final figure—one carefully triple-checked by Emilio Navarro himself.
"Five hundred sixty thousand Ducados," she said.
Lancelot blinked.
That wasn't a number. That was a signal flare—fired into the old world to announce the birth of a new one.
And that wasn't even the crown's share.
"Ten percent remitted directly to the Royal Treasury," Alicia added. "Fifty-six thousand Ducados."
That alone could fund a standing regiment for over a year. Pay, train, clothe, and arm every soldier. It could buy two dozen field cannons, equip a small navy escort, or build roads between three provinces.
In terms of copper Marks—the coin of the common man—it was astronomical.
To grasp the scale, let's have a breakdown.
1 Ducado (D₭) = ~100 to 150 USD (real-world value)
560,000 D₭ = Equivalent to nearly 60 million USD in purchasing power.
What could be bought with 56,000 ducado?
Train and maintain 560 professional soldiers for a full year
Purchase 1,800 muskets with bayonets
Commission 140 field cannons with six months of powder and shot
Build and staff four regional academies
Feed 300,000 commoners with bread and tavern meals for a week
Construct 20 new warehouses in port cities
The full 560,000 Ducado profit was not theoretical—it had been collected, counted, and reported within just under four months. And not even all contracts had returned yet. Manila's signature wouldn't arrive until at least February.
Which meant the Company hadn't even reached full operational scale.
"This is only the beginning," he said.
Alicia nodded. "What's next?"
"What's next? Well, let's add another stream of income."