King-Chapter 1410 - 277, Paper Money_2

Even if these difficulties are overcome, unless the fiefdoms are located in coastal areas, it’s still unavoidable to borrow paths from the nobles along the way.

As the local power, Hudson has already taken the lead, marking territories in coastal areas and building castles as strongholds.

Trying to take food from the tiger’s mouth? One might not even know how they’d meet their end. A few ships disappearing in the vast ocean is not something novel.

On the surface, it seems as though he hasn’t retaliated against the five major families in the Northland, but in reality, Hudson has already blocked all their routes, leaving only the final fatal blow.

The hesitation in striking is not only due to the lingering strength of the five families but also because Hudson doesn’t want to bear the accusation of inciting a civil war in the Kingdom. frёewebηovel.cѳm

Even though Caesar IV had hinted multiple times that he could make a move, Hudson always deferred, citing the prioritization of annihilating the Orc Empire as an excuse.

"Pass down the order: instruct our representatives in the Papal State to appropriately increase prices to accelerate the acquisition of serfs.

If the fleets aren’t sufficient, then employ ships from across the Continent. All profits obtained in this operation will be entirely allocated to acquiring serfs.

Additionally, designate a ten million gold coin special loan for the procurement of serfs and their resettlement!"

Hudson commanded forcefully.

Making a decisive move to sweep up resources now isn’t just about seizing manpower; it’s also due to the pressures of the current situation.

Reason tells him this unscrupulous snatch can’t go on indefinitely.

If the actions were small-scale skirmishes, the Papal State, on the weaker end, would likely choose to endure it.

But this isn’t the same—it’s cutting off their foundation. If measures aren’t taken to stop it, the countries of the Human Race would drain the Papal State empty.

With all the followers taken and only a "Holy Mountain" left, what use could it possibly serve?

If these nations don’t know when to stop and persist in their pillaging, the only choice left for the clergy would be a desperate fight for survival.

Whether the clergy’s counterattack would succeed, Hudson couldn’t predict. But trouble down the line is inevitable, and if the situation spiraled out of control, buying labor on a large scale later would no longer be feasible.

...

In the Jade Palace, staring at the map on the wall, the confidence and vigor of Caesar IV vanished without a trace.

Regarding the management of newly acquired territories, internal disagreements within the Kingdom Government had reached a fever pitch: some advocated division into fiefdoms, while others preferred direct governance, with both sides presenting sound arguments.

Deep down, Caesar IV naturally inclined towards direct governance by the government, to strengthen the Central Government’s authority.

Yet, the practical issues couldn’t be ignored. Through the plundering of the Papal State, the financial pressures on the government were temporarily alleviated, but subsequent fiscal strain remained significant.

Given the government’s current revenues, after deducting military expenses and operational costs, they couldn’t even manage to cover daily interest payments on debts.

The King’s annual allowances had been long overdue, high-ranking government officials had for years been receiving only thirty percent of their salaries, and all banquets and celebration activities had been reduced to the bare minimum—further tightening wasn’t an option.

Revenue generation was inert, and not only the Kingdom Government but also the civilian economy was in dire straits, with over eighty percent of nobles burdened by varying degrees of foreign debt.

Describing the Kingdom’s economy as being at the "brink of collapse" was no exaggeration. All of these were the costs of war victories.

In this context, the wealth plundered from the Papal State not only had to fill in the Kingdom Government’s deficits but also had to provide lifelines for the nobles.

If not for the Near East Development Bank proactively announcing a debt extension, it’s estimated that bankrupt nobles in the Near East Region would now be widespread.

Were it not for the Papal State being the unwitting benefactor, a wave of bankruptcies among Kingdom Aristocrats would likely have been next.

Similar scenarios have appeared more than a dozen times in history, and each bankruptcy wave was followed by a tide of land consolidation.

Initially, the Kingdom’s major nobles held territories limited to one county, with some not even commanding an entire county.

Now, any random major noble controlled three, five, or as many as eight counties, with the most prominent managing territories equivalent to two or three provinces.

Nominally, Hudson’s fiefdom was the largest, but in terms of overall strength, it didn’t even rank among the top three.

Without accounting for Hudson’s personal influence, the Koslow Family would merely be an ordinary major noble in the Kingdom, with the only distinction being its extensive fiefdoms.

The population under its jurisdiction was average among major nobles, and its territorial economy could be said to lead among emerging major nobles but still lag behind the old nobility.

Its only strong point was the combat effectiveness of its Standing Army. The comprehensive strength of its thirty-thousand private troops positioned it as the second largest armed force after the Royal Family.

However, due to the family’s lack of high-level power, this advantage was offset.

What made it feared by various factions was chiefly Hudson himself. His singular efforts had elevated an ordinary major noble family to the forefront of the Kingdom.

A standalone family posed little threat to the Royal Family; a coalition of families, however, could cause considerable concern.

To curb the growing influence of the nobles, Caesar IV had just cause to support increasing direct prefectures under the Kingdom Government.

The problem circled back to the beginning—money!

The debt crisis accumulated over a decade culminated in this moment; no wonder the Ministry of Finance was considering bankruptcy.

The weight of historical burdens suffocated the government. Plundering the clergy allowed the Kingdom Government to claim only a portion of the gains, still not enough to fill this massive hole.

"Count Francis, what’s the Kingdom Government’s current total debt?"

Caesar IV asked with a furrowed brow.

Frankly, this was a vexing subject. Each time he inquired, the answer was always the same: the Kingdom’s debt had increased.

Especially since Count Francis became Minister of Finance, the debt growth had reached alarming speeds, to the extent that Caesar once suspected the Ministry of Finance of embezzlement and discreetly arranged investigations.

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