Chapter 88: Public and Private Treasuries

Chapter 88: Public and Private Treasuries

TL: Etude

Paul patiently explained to the old steward why he wanted to separate the finances of the lords estate into internal and external accounts.

Although Philip felt somewhat disappointed at first, he soon came to understand the rationale.

Recently, the income of the lords estate had been increasing in both volume and complexity, and so had the expenditures. Philip, feeling his age and diminishing strength, worried that a miscalculation on his part could jeopardize the Counts important affairs.

Relinquishing his reservations, Philip stood up and bowed deeply to Paul, saying, Count, I fully comply with your arrangements.

Paul was deeply moved by the old stewards understanding and, once again, came around the table to firmly grasp Philips hands, sincerely saying, Philip, I will still rely heavily on your care in my personal life.

Tears glistened in the old stewards eyes as he replied, Rest assured, Count.

In the afternoon, the senior officials of the Administration Council gathered at the lords estate, where Paul announced his decision:

Given the reasons mentioned, Ive decided to split the estates treasury into two parts: a private treasury for my personal expenses and a public treasury for the public affairs of Alda.

This announcement perplexed everyone in the room. They knew that the royal family separated their public and private treasuries, but had never heard of a local lord doing the same.

Eventually, Ford, the chief steward, coughed and said to Paul, Count, isnt it unnecessary to make such a fine distinction? Technically, all this money is your property.

Indeed, in this era, including the king, lords of all ranks considered everything within their domains as their private property.

I understand, Paul replied, but I think its better to have clearer roles and responsibilities for each department now that we have established such a complex administrative team.Updated from novelbIn.(c)om

Paul wasnt about to play the noble at this moment. He was determined to keep a firm grip on where the money went.

Now that we have a Department of Finance, lets allow it to fully exercise its function, not just to calculate budgets.

The other officials also echoed Fords sentiment.

Paul gestured dismissively, Alright, since its to be at my discretion, lets settle it this way.

Seeing Pauls insistence, Ford did not object further. In his heart, he was actually pleased, as the lord had delegated nearly half of the financial authority to the Administration Council he led. This would make their work easier, and with the establishment of various industries, the income flowing into the public treasury was likely to increase.

Paul! a voice called out.

The only person present bold enough to address the lord by his first name was Count Malron Ganard.

Every time Paul convened a meeting of the Administration Council, Malron was included, and his opinions were sought, especially on matters concerning Baylding. This made Malron very content.

Lately, Malron had become more cheerful, seemingly having moved past previous troubles. He actively participated in discussions, expressing his opinions, though he never opposed the consensus.

What is it, Malron?

Malron spoke up briskly, Lets handle Bayldings income the same way. The income from the Ganard familys lands and shops will go to me personally, while the taxes from the land will go into this public treasury, to be managed by the Administration Council.

Bayldings finances were kept separate to avoid the impression that Alda was annexing Baylding. Although, with Malrons compliance to Pauls directives, it was almost a moot point.

Though slightly surprised, Paul found Malrons suggestion perfectly aligned with his intentions. Of course, he had to maintain appearances.

Malron, are you sure about this?

Before Paul could finish, Malron laughed heartily, Of course, Ive thought it through! Being by your side lately, Ive witnessed your actions firsthand. This aligns with the goals I had set for myself. And both you and Ford have been fair to both Alda and Baylding, showing no partiality. Why not join the two strands into one then?

Paul was genuinely moved, patting his chest as he promised his blood-sworn brother, Since you trust me so much, I swear that as prosperous as Alda becomes, so will Baylding. If the people of Alda eat meat, the people of Baylding will not just have soup.

Ive always trusted you, my brother!

Malron approached and grasped Pauls hand, speaking sincerely.