It must be understood that war reparations are actually backed by collateral.
For instance, Austria’s reparations are backed by national tariffs along with the salt and liquor taxes from all regions except Hungary.
This ans that France’s bonds are collateralized by Austria’s various state revenues. The security of these bonds far surpasses those issued purely on national credit.
With almost equivalent returns, anyone would buy such governnt bonds.
And the bigger "trump card" is the anonymous purchase model.
Currently, governnt bonds across all of Europe are purchased through bank registration. To resell, one must handle cumberso procedures at the bank, which locks up the buyer’s capital. Many factory owners worry about insufficient liquidity and thus dare not purchase.
Joseph’s introduction of the anonymous system essentially turns these governnt bonds into a form of "currency." If the holder is strapped for cash, they can sell the bonds at any ti, even agreeing to a slight interest concession, to quickly recoup funds.
This model seems simple, but due to restrictions in financial industry developnt and lack of confidence in anti-counterfeiting technologies, countries opt for registered bonds. It wasn’t until the 1820s that England began to gradually experint with anonymous issuance.
For France, however, counterfeiting is not an issue.
Currently, France’s papermaking and printing technologies are among the most advanced in Europe, and its chemical technology is unparalleled. Coupled with the experience gained from issuing franc banknotes—having upgraded their anti-counterfeiting technology three tis recently—counterfeiting possibilities are virtually eliminated.
Though Godan harbors so uncertainty about anonymous bonds, since the Crown Prince says it’s feasible, there should be no problems.
He eagerly took out his notebook to jot this down, just as Joseph continued:
"As for British bonds, in the wake of their defeat in this war, investors are sure to lose confidence in them.
"Nonetheless, we must also actively push this along. Mr. Godan, you need to proceed as follows..."
Godan nodded repeatedly: "Yes, Your Highness. I’ll arrange for soone to handle it right away."
After discussing the bond issue, Joseph then turned to Bertier:
"The arrangents for the retiring soldiers still need improvent."
Godan beca anxious:
"Your Highness, the severance pay really can’t be increased further!"
Joseph waved his hand:
"No, you’ve misunderstood. In fact, the severance pay can be slightly reduced."
This ti Bertier objected:
"Your Highness, this might..."
Joseph continued:
"The soldiers have been away from ho for more than half a year, so even over a year, fighting valiantly for the country. After discharge, receiving only 110 francs is far from compensating for their losses.
"For instance, many lose their jobs because of this.
"In this regard, the Ministry of Internal Affairs needs to formulate policies. Factories that employ discharged soldiers should receive tax reduction incentives. The more they hire, the higher the tax reduction rate.
"We can also organize discharged soldiers for collective skills training and then invite factory managers to select and hire them.
"Those who perford well in the military should be allowed to enter police academies or the School of Economics for studies. After graduation, they can work in police, tax, customs, or postal departnts. During their studies, they’d receive half-pay to help sustain their livelihoods. For this group, their severance pay can be appropriately reduced.
"As for farrs, they should receive reductions in land taxes and discounts on purchasing fertilizers and the like."
Joseph borrowed directly from many mature discharge resettlent policies in later generations.
What seems just a welfare policy for discharged soldiers actually has significant impacts.
First, it enhances the public’s enthusiasm for military service and trust in the governnt. The next ti France needs to mobilize an army, the available forces will surely exceed this ti’s.
Second, soldiers returning from the battlefield have a sense of belonging and honor for the country that surpasses those old bureaucrats who rely coast through. Integrating them into the national civil service will greatly improve governnt efficiency and reduce corruption.
Finally, this also aids France’s industrial developnt. During warti, many young n leave their hotowns, causing factories to face labor shortages and affecting industrial production. At this point, the governnt coordinating the return of discharged soldiers to factories is a win-win situation.
It may even promote the systematic training of industrial workers through skill training for discharged soldiers.
Bertier hastily noted everything down, just as Archbishop Beaumont, following closely behind Eman, approached in haste and bowed slightly to Joseph, urgently saying:
"Your Highness, the Pope has already arrived in Paris, he hopes..."
Looking at the troops under review, Joseph said calmly:
"I don’t recall inviting him. As you can see, we’re currently holding a significant ceremony celebrating France’s victory, so I’m unable to find the ti to receive him.
"How about letting him stay temporarily at Notre Da de Paris?"
Archbishop Beaumont was taken aback:
"Your Highness, but..."
Joseph ignored him, turning to Eman:
"Where is Archbishop Muzareli now?"
"He presided over the Osnabruck Diocese’s archbishop consecration and inauguration the day before yesterday. According to schedule, he should be nearing Trier."
Joseph nodded:
"If he takes the train from Luxembourg, he should arrive in Paris the day after tomorrow, right?"
"Yes, Your Highness. Approximately the afternoon of the day after tomorrow."
Joseph then turned back to Archbishop Beaumont:
"Sorry, what were you saying?"
"Oh, nothing... nothing, Your Highness." The Archbishop of the Paris District retreated two steps, clutching his chest, "I understand what to do."
...
While a grand parade was taking place in Paris, a gathering of the most powerful people from the Germanic region had convened far away on the East Bank of the Rhine in Stuttgart to hold a eting that would greatly impact the Holy Roman Empire.
Kobutsel, representing the Bohemian Elector, frowned as he entered the new Royal Palace of Stuttgart.
He tilted his head and whispered to his assistant:
"Why is the Imperial Assembly being held here?"
"Uh... Apparently, there’s an epidemic spreading in Frankfurt recently. To avoid risk, Archbishop Frederick Karl proposed relocating it to Stuttgart."
Of course, the so-called epidemic was just a convenient excuse. According to France’s wishes, Stuttgart would henceforth be the venue for the Imperial Assembly. After all, the "Stuttgart Declaration" representing French order was signed here.
Kobutsel smirked, spotting the Foreign Minister of Salzburg ahead, and hastily caught up.
The two exchanged greetings before Kobutsel quickly inquired:
"Do you know Mainz’s stance?"
The main agenda of this Imperial Assembly was voting on the inheritance of the title of the recently extinct Elector of Hanover.
The Foreign Minister of Salzburg lowered his voice:
"Archbishop Karl seems to lean towards Count Weimar."
Kobutsel nodded:
"I also think that’s a good decision. So, we’ll also join forces to support Weimar."
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