Rac's First Joint-Stock Company.
It was a business idea that ca to mind during the Thirty-Year Cold Wave.
Since our guild had also been a joint-stock company, it was a natural thought.
While it wasn't a modern joint-stock company system, the fundantal concept was the sa.
Raise investnt, conduct the business, and share profits in the form of dividends.
The investnt shares could also be traded, much like stocks.
Goose asked,
"I understand you're proposing to run a business using rchants' investnts, but how will the rchants trust us enough to entrust their money?"
Urke bristled slightly.
"Even knowing that I am involved, are you saying the people of our territory would not trust us?"
"That's not what I ant..."
"Then, do you think I'd tarnish the trust I've built for just a handful of coins?"
"My apologies. Tsk."
Goose gave an awkward smile.
In truth, Goose was simply stating reality. Trusting a lord and actually entrusting one's money are different matters.
"Once we legislate the relevant law and issue share certificates based on it, everything can proceed. As long as it's specified that profit according to investnt will be given. You can also buy and sell the certificates themselves. If a business is likely to succeed, people will try to buy more; if anxious, they can transfer them to others."
"Buy and sell share certificates?"
"Trading shares..."
The Count seed to be getting the idea. Tapping his fingers on the table, he asked,
"So the share certificates themselves could be used as a trading dium, like gold coins."
"Yes. If the business appears likely to succeed, everyone will try to purchase them for themselves. The opposite could also be true."
"Hm."
The Count was involved in the food business. Since fish prices fluctuate depending on the catch and pork prices frequently spike due to disease, he understood well what caused price changes.
Goose asked,
"But if the price of share certificates rises, will that benefit the rchant guild? Does the increased value an cash flows into the rchant guild?"
"The rchant guild need only focus on the business, regardless of the certificates. However—"
"However?"
"There might co a ti when new share certificates are issued. Say the rchant guild lacks funds and needs to raise more investnt, though I doubt the guild will need further capital."
"Right. Buying and selling share certificates is for the investors to handle; the rchant guild need only earn profit."
Seeing the two nod, I spoke again.
"Therefore, the rchant guild must offer a place for trading share certificates and establish the relevant legal frawork. Only then can several problems be controlled."
"An exchange?"
"Russell."
Russell took a booklet from his bag and placed it before the Count and Goose.
He'd prepared an overview of the share certificate exchange and various business plans in advance.
Seeing it is often clearer than listening.
The Count read the booklet and said,
"The Goose rchant guild will handle managent and trade, the Hader house will oversee resource developnt and shipping, and I will be responsible for the bank and share certificate exchange... But what is a bank?"
"Consider it a rchant guild where rchants can deposit their excess money."
"Depositing money? Not investing?"
I explained the difference between a bank and a share-based rchant guild to them.
I also explained what a bank does.
To run a bank, trust was essential, but with Lord Urke being well-trusted among the people, he was suitable.
A bank was also necessary for transactional convenience and to efficiently move funds, as well as for future ventures.
Especially businesses such as futures markets needed banks.
Goose reacted positively.
"A futures market? rchants setting the quantity and price in advance by contract before the delivery date? That way, even if a trade ship sinks or there's drought, prices can't just be set arbitrarily?"
"What do you think would happen then?"
"Then both buyer and seller would suffer fewer losses. rchants travel for over two weeks by ship, so at least they wouldn't be making wasted journeys. They'd only need to accept goods remaining contracted until the final date."
"What would happen to the east, then?"
"If we managed this..."
Goose's face lit up.
The answer ca from the Count's mouth.
"rchants from across the continent would gather here."
He answered with a smile instead of words.
For that was my goal.
"Currently, there's no cross-continent exchange, but if the rchants open those paths first, it isn't impossible."
"We're not enemies these days either. No matter the reason, the divine order diates between both continents."
"Yes. There's a long road ahead, but all rchants across the continent must co to Mouk. Trading with contracts instead of goods—and letting those contracts be traded themselves, so rchants set the prices."
"Like an auction?"
"Yes. Then all the money will flow to Lord Urke's bank. There'd be no need to carry around heavy gold coins."
"How so?"
"Credit transactions. rchants can make deposits and withdraws straight from their region just by handing deposit and withdrawal slips. Directly at local branches of Lord Urke's bank."
"So credit is the key!"
The Count was sincerely impressed.
Only now did the role of the bank seem clear.
After looking at the two of them, I spoke again.
"So, if the great rchants of the continent do business with us—each nation's royal household, sponsored by those rchants, will support the east and our rchant guild. The divine order as well."
The Count's eyes sparkled.
"The imperial family of the empire won't be able to touch us!"
"That's exactly it."
"Incredible!"
Goose burst out in admiration.
Not only would the two houses join forces, but it would unite the entire east.
Beyond that, we'd win support from other continental realms—guaranteeing the safety of the east.
The common folk would earn money, making the east wealthy and improving their quality of life.
The profit-hungry imperial nobles could then be drawn to our side.
Urke and Goose had understood this thoroughly in an instant.
It was not just about earning money.
It was tied to the safety of the east.
/ / /
After returning from the Count's castle.
I imdiately began drafting the business docunts. A few days later, the special forces set out for training in the south.
That was already three months ago.
While reviewing the completed business docunts, I went out for so fresh air and headed to the training grounds.
The soldiers were as earnest in their training as ever. Training was now systematically arranged by squad.
"Zelle! Give us an attack buff!"
"Got it!"
Deng—
One soldier struck the ground with a [Tuning Fork] in his hand. A bell-like oscillation radiated from the tuning fork.
The attacker in the squad, hit by that wave, swung his sword at a dummy. The blade hit the dummy's post with a solid *thud*!
Even though they were ordinary soldiers, the power difference from magic power was no joke.
"My attack went up a bit?"
"My buff is still weak. It's only been two weeks since I changed my specialty to buffer."
"It's fine. Even being able to heal us is sothing."
"Try defense buff this ti."
"Okay."
They were about to practice again when another squad stepped in.
"Zelle! Can you co help our squad for a mont?"
"? But I'm still..."
"Hey! Don't you see we're already doing joint training with Zelle?"
"As if Zelle belongs to your squad?"
"Give us ten minutes, just for a defense and concentration check."
"Zelle, I'll buy you so at. Train with our squad."
"What kind of at are you buying?"
At that mont, a burly figure appeared.
"What are you punks doing ssing with our squad's buffer?"
"Damn it! We want to train with a buffer too!"
"Don't you have a defender in your squad? Go practice shield training or sothing. Don't make our precious one suffer. Co on, Zelle. Don't fall for bad elder brothers' temptations again."
"What can we do, there aren't enough buffers."
"If you're frustrated, beco a buffer yourself. Let's go."
The big warrior led away the young friend known as the buffer.
The soldiers who had been training together just smacked their lips in regret.
This was the outco of a severe shortage of buffers. So many squads wanted one that it looked like the number of buffers would increase soon.
The soldiers were using the skill and class nas as I had set them.
They'd found them odd at first, but now treated them as proper nouns.
Most terms were translated into the local language, but words like "buff" or "heal
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