Steel, Guns, and the Industrial Party in Another World
Chapter 88: Public and Private Treasuries

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Paul patiently explained to the old steward why he wanted to separate the finances of the lord’s 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 lord’s 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 Count’s 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 steward’s understanding and, once again, came around the table to firmly grasp Philip’s hands, sincerely saying, “Philip, I will still rely heavily on your care in my personal life.”

Tears glistened in the old steward’s eyes as he replied, “Rest assured, Count.”

…

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

“…Given the reasons mentioned, I’ve decided to split the estate’s 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, isn’t 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 it’s better to have clearer roles and responsibilities for each department now that we have established such a complex administrative team.”

Paul wasn’t 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, let’s allow it to fully exercise its function, not just to calculate budgets.”

“Old Philip is getting on in years, and our estate’s financial situation is becoming increasingly complicated. How can you bear to see such a heavy burden on his shoulders alone?”

After hearing this, Ford asked curiously, “Do you mean…?”

Paul nodded and said, “Yes, from now on, Philip will continue to manage the private treasury, while the public treasury will be managed by the Department of Finance in the Administration Council.”

The officials were astonished. Money, being such an important matter, should be managed by one’s most trusted retainers. Who else in the estate, apart from Philip, could that be?

However, the members of the Department of Finance were elated, immediately standing to say, “Please rest assured, Count, we will not let you down.”

Previously, they were only responsible for crunching numbers, but Paul’s change potentially meant they now had some real authority.

Ford, understanding Paul’s decision, knew the current state of the estate and recognized the need for professionals to handle the finances.

Paul continued, “Let’s discuss how the estate’s income will be allocated, what goes into the private treasury, and what into the public treasury.”

Old Ford said, “It’s all up to the Count’s decision.”

Paul hesitantly said, “My initial plan is that all tax revenues of Alda will go into the public treasury. Furthermore, from now on, the profits generated from various factories, workshops, stores, etc., established with public funds will also be entirely credited to the public treasury.”

“And as for the Grayman family’s estates, the profits from the paper mill, porcelain factory, and the already planned cannery, as well as the fees for technological cooperation with private operators, and the income from investments made with the private treasury, all these revenues will go into the private treasury.”

“What do you think?”

Ford, the chief steward, responded, “Count, I think it would be sufficient to allocate only the tax revenues to the public treasury. The rest of the income should remain in your private treasury.”

Paul breathed a sigh of relief. He had been concerned that allocating too much to his personal treasury might cause dissatisfaction among others, but now he saw there was no need for such worry.

“Cough, this private treasury is for my personal expenses. If the public treasury runs low, I don’t want to have to cover it with funds from my private one. Conversely, I will try not to satisfy my personal desires using the public treasury.”

Ford quickly said, “That’s out of the question, Count. Even the money in the public treasury is yours and at your disposal.”

The other officials also echoed Ford’s sentiment.

Paul gestured dismissively, “Alright, since it’s to be at my discretion, let’s settle it this way.”

Seeing Paul’s 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, “Let’s handle Baylding’s income the same way. The income from the Ganard family’s 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.”

Baylding’s finances were kept separate to avoid the impression that Alda was annexing Baylding. Although, with Malron’s compliance to Paul’s directives, it was almost a moot point.

Though slightly surprised, Paul found Malron’s 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, I’ve thought it through! Being by your side lately, I’ve 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.”

“I’ve always trusted you, my brother!”

Malron approached and grasped Paul’s hand, speaking sincerely.

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