Firearms in a Fantasy World

Chapter 84: Supporting Commerce

Translator: Cinder Translations

...

"Could it be possible to reduce some of the tax burden in the initial stages?"

As soon as Bennett's words were spoken, the great hall fell silent.

Some secretly mocked him for being insane—neither encountering natural disasters nor human calamities, yet asking a lord to reduce taxes?

Others secretly felt relieved that Bennett, as a pioneer, had voiced what they had been thinking.

Paul stared at Bennett without moving a muscle, causing him to feel a chill. Could he be leaving a bad impression on the lord?

The lord finally spoke, "What is your name?"

Bennett nervously replied, "B... Bennett, Bennett Todd, um... I'm a ship merchant from Frand Port."

Paul nodded and said, "Ah, Mr. Todd. Your proposal is good. In fact, it is one of the commercial support measures I am about to discuss."

Mayor Theodore and Advisor Old Peter exchanged glances, each reading the other's doubts—hadn't the count mentioned this measure to them beforehand?

Paul cleared his throat and continued, "As for the specifics of tax reduction, it will be decided after discussion by the Council of State Affairs."

Seeing his proposal aligning with the lord's intended measures, Bennett breathed a sigh of relief.

"Thank you, Lord Grayman."

He gratefully thanked Paul and then sat down.

The merchants in the hall were also excited. It seemed that the lord was determined to support them. They looked gratefully at Paul, and many had already silently resolved to take bold actions.

Paul felt annoyed with himself: How could he forget such a measure that could stimulate the merchants' interest, only to have someone else propose it first?

Then he saw the eager looks from the crowd in the hall, waiting for him to announce the remaining commercial support measures.

Right, he had just said "one of them."

Well, here goes nothing. Paul stood up suddenly from his seat and dropped two big bombs:

v First, he would instruct the Council of State Affairs to establish an organization called "Bank," which would provide low-interest loans to operators lacking startup capital.

v Second, he planned to emulate the Angle Bay Alliance by establishing a securities exchange, where operators could sell securities to raise idle funds in society.

TL Note: Securities Exchange is another name for Stock Exchange

"Woah—" The hall erupted again.

In fact, neither of these things was new.

There were many private lending organizations in the civilian sector, but their interest rates were high, often leaving borrowers bankrupt. In comparison, the low-interest loans from the "Bank" were quite tempting.

The securities exchange of the Angle Bay Alliance had been long established, but there had never been a similar institution elsewhere.

With Bennett as the pioneer, others also became emboldened.

A merchant asked, "Lord Grayman, may we know which technologies you will authorize us to use?"

What, after all that talk, he hadn't mentioned which industries he intended to open up? He really should have asked Bernar to write him a draft beforehand.