UPDATED Chapter 688: The Tax Farming System

Early in the morning, a tax official from Willas's team presented a thick ledger. "My Lord, this is the tax record of the wool merchant in Eel Alley."

The Iron Throne had always been pushing for economic reforms, albeit at a slower pace compared to other areas.

Jon Connington was a versatile Hand of the King. He could lead in wartime and govern in peace. During his tenure, he quelled rebellions and invasions with fervor. However, when it came to economic reforms, Jon advocated for stability, avoiding drastic upheavals.

Thus, during Jon's era, economic reforms simmered without boiling over, while wars raged on. This was a hallmark of his leadership.

Yet, Jon's reign wasn't devoid of economic achievements. For instance, he ardently advocated for the abolition of the tax farming system, a practice that had persisted in Westeros for centuries.

Tax farmers were individuals who, on behalf of the crown, collected taxes indirectly. They would pay the crown upfront and then collect the taxes from the populace.

Jon Connington believed this system was riddled with flaws, chaos, and corruption. It bred a dark underbelly in King's Landing, with tax farmers often resorting to extreme measures to extort merchants. Harassment, threats, and even violence became commonplace.

In the end, the money extorted from merchants often exceeded the actual tax amount. These merchants also had to pay the Gold Cloaks for protection, or else face further harassment.

Legitimate merchants in King's Landing, burdened by these layers of extortion, had their profits squeezed dry. They were forced to raise prices, passing the burden onto the common folk.

This was why, during the Baratheon and old Targaryen reigns, any slight disturbance would see prices skyrocket. The crown would hastily collect taxes for several years in advance, and tax farmers would then extort even more from the merchants. Prices in King's Landing would soar.

Tax farmers, these 'special' merchants under the Master of Coin, profited from both ends. They received tax benefits from the crown and extorted merchants. But the common folk and merchants without connections bore the brunt of this system.

Jon Connington, ever since his first tenure as Hand under the 'Mad King' Aerys II, had loathed this dark force in King's Landing. A man of his integrity couldn't stand by and watch such corruption.

However, during his time with Aerys, he lacked the support of a wise ruler. It was only during Willas's reign that he got the chance to act.

Thus, in his economic and domestic policies, Jon prioritized the abolition of the tax farming system. However, this system was a convenient way for the crown to collect taxes.

With its abolition, the empire's tax officials suddenly found themselves swamped. Without the help of the local thugs, they had to rely on their wits to collect taxes from the cunning merchants.

At times, when they were run ragged, they couldn't help but miss those old enforcers.

However, most of them had been imprisoned by Jon Connington. Some had even been sent to the Wall or had perished.

Willas's tax official handed him a tax record of a wool merchant from the Baratheon era. The record was penned by a tax official who now served on the Wall.

Although Jon Connington abolished the tax farming system and, with the city guard now under the strict discipline of the Unsullied led by Grey Worm and later the 'Blackfish' Brynden Tully, the merchants in King's Landing had it easier. But merchants will be merchants, always looking for an angle. Even without the tax farmers and Gold Cloaks, collecting taxes became even more challenging. They would argue and haggle with King's Landing's tax officials.

One such wool merchant from Eel Alley was particularly troublesome. Willas had personally visited him twice, but to no avail. The merchant claimed he had already paid his taxes for the next thirty years during King Robert's reign.

"My Lord, shall we visit him again today?" an exasperated tax official asked. "He's just stalling. How can King Robert's reign and His Grace's be the same? King Robert was extravagant, while His Grace is frugal and just. I suggest we inform Ser Brynden Tully and have his shop sealed!"

The tax officials, though they couldn't resort to the old ways of violence and intimidation, had a trump card. They could notify the city guard to seal off a merchant's shop.

"Not yet," Willas Tyrell, engrossed in the tax record, finally spoke after a moment of contemplation. He pointed to a few entries from years ago, during the war against the White Walkers. "Old Linman wasn't lying. He indeed paid his taxes for the next thirty years."

During that time, the Iron Throne was drowning in debt. Yet, to muster troops for the war, they squeezed every penny from the populace. This Northern wool merchant was one of the victims.