Novel Bin Chapter 13: Treasury Reform
Chapter 13: Treasury Reform
The council meeting was still ongoing as everyone returned after a short break. Vijay took charge and initiated the discussion.
"Uncle Ravi, please calculate how much money is needed to form all the necessary departments," Vijay asked.
Ravichandra pondered for a moment in his head and replied, "It will take 60 million Varaha, your Highness."
Vijay frowned, as the amount was way more than what he had imagined. But he soon gritted his teeth and made his heart firm to continue with the reform.
"Uncle, what is the amount of money in the treasury?" Vijay inquired. Ravichandra replied, "Due to your father taking away some of the privileges of the landlords and nobles, it is currently around 40 million Varaha, your highness. This is the highest it has been since the founding of the kingdom."
So they were still short of 20 million, Vijay thought. He nodded his head and asked again, "What is the value of all the property my family owns?"
Even though Uncle Ravi was retired, he had been the butler of the royal family for decades, so he should still know all the finances and property details of the Royal family.
As he expected, without missing a beat, Ravichandra replied immediately, "It will total over 37 million Varaha, your highness."
"But, your highness, most of the money is in the form of land property and castles," he added, sensing that something was not right.
Listening to Uncle Ravi's worry, Vijay comforted him, "Don't worry, Uncle. I will be cautious. I know what to do."
Upon hearing Vijay's reply, Ravichandra became sullen and sat down reluctantly.
Vijay continued to explain his plans for the kingdom's treasury. "I have decided to separate the public treasury from the private treasury," he announced.
Everyone in the room looked confused. Public? Private? What were those?
Ignoring their confusion, Vijay went on to explain the difference between public and private treasuries.
Despite Vijay's explanations, everyone was still puzzled. "Your Highness, don't both public and private treasuries belong to you? What's the point of having them separate?" Ravichandra asked, voicing everyone's doubts.
Vijay replied, "There are actually several reasons, but one of the main ones is that I have future plans for the treasury. I intend to make investments from my personal treasury, which some may consider reckless. However, I have full confidence in my investment choices and future vision. In the event that these investments do not succeed, I do not want the kingdom's treasury to bear the burden of my mistakes."
Though still confused, everyone agreed with his decision.
Vijay continued, "Uncle Ravi, please hand over 20 million Varaha to Logananda for military expansion and 10 million to Arjun for the police department."
Ravichandra, though reluctant, agreed to the allocation.
"Marshall Logananda, please use this money to expand the army by another 50,000 for a total of 100,000 professional soldiers," Vijay instructed.
"The military will be trained according to the document you submitted," he said, signing a document on his desk and handing it over to Logananda.
Logananda respectfully accepted the document and saluted, replying, "It will be done according to your wishes, your highness."
"Director Arjun, the 10 million I have allocated to you will be used for the formation of police stations and the police department. I hope you make good use of the money," Vijay continued as he signed the document and handed it over to Arjun. Arjun respectfully accepted the document with a bow, expressing his gratitude for the opportunity.
"As for the remaining 10 million Varaha, it will be used as emergency funds for the empire."
Vijay called his butler Vinod, and a middle-aged man came running. "Vinod, please arrange for all the property in the form of land to be sold as soon as possible."
Everyone in the room, including Vinod, was startled by the request. Ravichandran couldn't sit still anymore. "Prodigal, you're squandering all the centuries of the wealth of your ancestors. Please don't do this," he yelled, with a livid expression on his face, like an elder reprimanding a younger generation.
Vijay was taken aback by Uncle Ravi's sudden outburst, but he soon realized the reason behind it. He understood that Uncle Ravi had dedicated most of his lifetime to serving the royal family, and witnessing a younger generation making decisions that could affect the family's wealth must have been difficult for him.
However, Vijay didn't take offence to Uncle Ravi's reprimand. Instead, he smiled and calmly explained, "Uncle Ravi, don't worry. I am only selling the family's land, not the palaces and mansions. I believe that strengthening the kingdom's military is more important than holding vast amounts of land. Even if I owned all the land in the kingdom, it would bring little to no benefit."
He continued, earnestly convincing his uncle, "Moreover, I am not donating the money to the empire. Instead, I am providing the Empire with a 30 million Varaha loan from the royal family, which I expect to be repaid in the next fiscal year."
Uncle Ravi finally agreed to the proposal, his face still grumpy. "I seem to be compromising a lot today," he thought, shaking his head in self-defeat.
Vijay let out a sigh of relief, relieved that his biggest obstacle had been cleared.
He continued to give orders, "The 30 million Varaha from the royal family will be used to fund the Military Academy and the Police Academy, which will start construction immediately."
Vinod opened his mouth, wanting to say something, but since his teacher agreed, he didn't have much to say.
Seeing there was nothing else to discuss, Vijay said, "Does anyone have anything to add?"
Everyone in the conference shook their heads, indicating that there was nothing further to discuss. Updat𝒆d fr𝒐m nov𝒆lb(i)n.c(o)m
"If that is all, then this is the end of the imperial conference," Vijay declared as he left the room. The others got up and praised, "Long live your Highness! Long live Vijayanagar! Long live!"
The news about the imperial council spread like wildfire, especially among the veterans in the army who were uneasy upon hearing about the retirement of 50,000 soldiers. However, their unease was soon replaced with relief when they discovered the opportunity to secure safer positions as civilian police officers with a decent salaries. Although the salary was not as high as in the army, the job offered a greater sense of security, as they would primarily be dealing with gangsters who lacked combat skills and only knew how to bully the weak.
The civilians were also elated when they learned of the recruitment posted for 50,000 candidates to join the army. What was even more unexpected was that Along with 30 Varaha monthly pay, there were no caste requirements for joining. Although the previous Monark, King Sriranga Raya had not discriminated against any caste, most of the selected army members were from the higher to middle caste. However, this time, in a groundbreaking move for Vijayanagara, caste was not a consideration in the selection process. Many people were astonished and impressed by the fact that the recruitment process was so Open, and the offer of free lodging and food for selected members further heightened the excitement.
Amidst the buzz of enthusiasm, shouts of "Long live your highness! Long live your majesty! Long live!" echoed throughout the kingdom, expressing the people's admiration and support for their Young king.