Crystal Radiance Royal Capital.
Beneath the towering dome, the council chamber was brightly lit with candles. King Rodney XVIII sat on his throne, holding a newly delivered military briefing in his hand, his eyes filled with undisguised shock.
" The Northwest Legion...has subjugated the Stonemason Clan?" He slowly raised his head, his voice filled with disbelief. " The dwarves of the Rocky Mountains, a race that has never traded with outsiders for a thousand years, have surrendered to Paul?"
The Minister of Intelligence, Earl Merlin, corrected the King, "It is only one of the clans."
The king exclaimed, "That's the first time in history!"
The ministers in the hall were discussing the matter animatedly.
The Foreign Minister exclaimed incredulously, "Those are dwarves who never deal with humans! They actually bow down to Marquis Glaeman?"
Count Merlin, the Minister of Intelligence, took out a map and spread it on the table. His finger slowly traced the border between the Rocky Mountains and the plains, and he said in a deep voice, "Your Majesty, gentlemen, this is not a simple surrender. It means that Marquis Glaeman has taken control of the passage through the Rocky Mountains. He now possesses a fast corridor that allows him to enter and exit the plains at any time. I dare say that the plan to annihilate the Royal Tent orcs is already on the agenda in Lakeheart Town, and Marquis will soon launch a war of conquest."
The council chamber fell into a deathly silence.
Rodney XVIII asked with some doubt, "Paul has been fighting the orcs for so long, does he still have gold coins to pay for a large-scale conquest of the grasslands?"
Minister of Finance Naik Scarlett, who was leisurely adjusting his cuffs, coughed lightly after hearing this and said, "Your Majesty, I was just about to tell you. I heard some rumors from merchants that a large gold mine has been discovered in the New World in Lakeheart Town."
"Oh, he's discovered a new gold mine?" Rodney XVIII was still puzzled: "But mining gold takes time."
Ike Scarlett walked slowly to the center of the council chamber and explained to the King:
"Of course, it's not just gold mines; Lakeheart Town is also issuing paper money and bonds."
"Paper money?" The ministers all asked in surprise.
Scarlett nodded: "You heard me right—paper money. It can be seen as an advanced version of our military scrip. Oh right, wasn't the military scrip an idea proposed by the Marquis Glaeman? I think it was the success of the military scrip that gave the Marquis the courage and confidence to issue paper money. There is even a possibility that the military scrip was the Marquis's preliminary experiment with paper money."
"In short, Lakeheart Town printed paper money, which served as 'credit notes' backed by the town's treasury. These notes ranged in denominations from one to ten and could circulate freely in the town's shops, quartermasters, and mines. They were even accepted by neighboring towns. They used these notes to pay military salaries, purchase supplies, and hire artisans—essentially creating money supply out of thin air and greatly alleviating the pressure on cash."
One minister frowned: "Circulating in society? This is not the same as small-scale use within the military! Won't it collapse?"
Scarlett shook her head: "The key is credit. The Marquis uses gold as an anchor, promising that every banknote can be exchanged for gold in the vault at a certain ratio. He regularly discloses the gold reserves and even invites people from different social classes to inspect them. As long as there is gold in the vault, Lakeheart Town's credit will not collapse. Nowadays, even merchants in the capital are secretly hoarding Lakeheart Town's banknotes."
"Another option is to issue 'gold mine revenue bonds'."
"The Marquis packaged the expected future output of the gold mine into bonds and raised funds from the public. Investors who bought the bonds could receive dividends from the gold mine's profits every year. It is said that the first batch of bonds sold out within three months, and the funds raised were equivalent to two years of our military expenses."
Some were shocked: "He sold national resources to foreigners?!"
Scarlett shook her head. "No, he's selling the future. He's not selling the mine or ceding land; he's just exchanging 'expected returns' for cash. The risk is borne by the investors, and the returns are controlled by Lakeheart Town. And if the gold mine overproduces, Glaeman will earn even more. Even if production is reduced, he'll already have his lifeline."
After the Minister of Finance finished speaking, the council chamber fell silent for a moment before erupting into a commotion.
At this moment, the Minister of Finance bowed to the King and said, "Your Majesty, please immediately assemble a royal exploration team and recruit the most elite surveyors, craftsmen, and navigators to go to the New World. If a vein of equal precious metals can be discovered, even a silver mine, the capital can issue its own credit notes and bonds, completely getting rid of the financial predicament. It can even… balance the economic influence of Lakeheart Town."
Upon hearing this, the ministers' eyes lit up. If the royal family had more gold mines, they wouldn't have to worry about running out of military funds.
However Duke Rupert frowned and whispered, "Your Majesty, this method is probably very risky."
Everyone turned their attention to him.
Rupert slowly said, " The shipping routes, ports, and supply depots of the New World were all established by Marquis Glaeman. Although he is loyal to the kingdom, that land is theoretically an extension and expansion of his private fiefdom. His navy patrols every inch of the coastline, and his merchant guilds control every trade route. If we rashly send an exploration team in, will he see it as an invasion of his vassal's territory by the royal family? Will he intercept or even expel us directly under the pretext of protecting his territory?"
He lowered his voice: "What's even more worrying is—what can we do if he orders the firing? Send our fleet to attack our own marquis? That wouldn't be going mining; it would break out into a civil war."
The atmosphere in the hall suddenly became heavy.
Prince Yuriko sneered and stood up:
"Your statement is utterly absurd! Glaeman is a subject of Aldor, and the lands he conquered were under the Aldor banner! That continent has been Aldor's territory since the first day he set foot on it!"
The prince's statement sparked even more heated debate. Although Yuriko has no shortage of supporters, many more are afraid of antagonizing Lakeheart Town.
Finally, King Rodney XVIII proposed a more conciliatory method.
"Perhaps we can take a different approach. I will personally write to Paul, stating that the Royal Family intends to send an exploration team to the New World, not in the name of a government organization or authority, but as a commercial company—registered in Lakeheart Town —with its name, bylaws, and license all in accordance with the laws of Lakeheart Town."
"We promise not to touch any proven or registered mineral veins in Lakeheart Town. We only look for unmarked wastelands and undeveloped valleys. If there is any profit, the profits will be paid to Lakeheart Town in accordance with the law, just like any other business in the Northwest Bay, with no more and no less."
Earl Merlin nodded slightly: "Your Majesty, this is a good idea, and Marquis Glaeman has no reason to refuse."
Rodney XVIII nodded. "Exactly. We're not going to fight over anything, but rather to make the pie bigger—isn't that what Paul always says?"