Public Treasury and Private Treasury

Translator: Cinder Translations

...

Paul patiently explained to the old steward the reasons behind his decision to separate the financial management internally and externally.

Although Philip felt somewhat disappointed at first, upon careful consideration, he became understanding.

In recent times, the Lord's Mansion had seen huge and increasingly complex income and expenditures. He was indeed getting older and perhaps not as capable as before. If he made a mistake in accounting, it could jeopardize important matters for the Earl, which wouldn't be acceptable.

Setting aside his grievances, Philip stood up and bowed to Paul, saying, "Lord Earl, I completely comply with your arrangement."

Seeing the steward so understanding, Paul was deeply moved. He once again walked around to the front of the desk, firmly grasping the old steward's hands, and sincerely said, "Philip, I will need you to take care of my personal affairs more in the future."

Tears welled up in the old steward's eyes as he replied, "Please rest assured, Lord Earl."

...

In the afternoon, the senior officials of the Government House gathered at the Lord's Mansion. Paul announced his decision to everyone:

"...Given the above reasons, I am planning to divide the treasury of the Lord's Mansion into two parts: the private treasury for my personal expenses and the public treasury for expenses related to Aldan's public affairs."

With this announcement, everyone in the room was perplexed. They knew that the royal family separated their public and private treasuries, but they had never heard of a lord doing the same.

Finally, Chief Steward Ford cleared his throat and said to Paul, "Lord Earl, is it really necessary to split them so distinctly? Theoretically, all this money is your personal property."

Indeed, in this era, including kings and lords, everyone regarded everything within their domains as their private property.

"I know, I just feel that since we have established such a complex administrative structure, it would be better to clarify the responsibilities of each department," Paul replied.

At this moment, Paul had no intention of displaying any grand gestures of integrity; he intended to firmly control where the money went.

"Since we have a Treasury Department now, let them fully utilize their role, rather than just budgeting," he continued.

"Old Philip is getting older, and with the increasing complexity of our estate's income and expenditures, how could you bear to burden him alone?"

Curiously, Chief Steward Ford asked, "Lord Earl, are you suggesting...?"

Paul nodded and said, "Yes, in the future, the private treasury will continue to be managed by Steward Philip, while the public treasury will be managed by the Treasury Department of the Government House."

The officials of the Government House found this unbelievable. The handling of such important finances should be entrusted to their most trusted household steward, shouldn't it? Besides Philip, who else in the entire estate could be trusted?

Meanwhile, the members of the Treasury Department were visibly excited. They immediately stood up and said, "Please rest assured, Lord Earl, we will not disappoint your trust."

Previously, their role had been limited to merely calculating accounts. Now, with Paul's change, it seemed they would wield some real authority.

Chief Steward Ford, understanding Paul's perspective well as a steward himself, knew the current situation in the estate required professionals to specifically handle financial matters.

Paul continued, "Next, let's discuss how the estate's income should be allocated—what goes into the private treasury and what goes into the public treasury."

Old Ford said, "Everything depends on Lord Earl's decision."

Paul hesitated slightly before stating, "My preliminary plan is that all taxes from Aldan will go into the public treasury from now on. Moreover, any profits generated from the public treasury's funds used to establish factories, workshops, stores, etc., will also be placed into the public treasury."

"As for the harvests from the Grayman family estates, profits from the paper mills, porcelain factories already established before this decision, the canned food factory under construction, and the technology usage fees from collaborations with private operators, as well as any investments made with funds from the private treasury in the future, the income from these will go into the private treasury."

"What do you think?"

Chief Steward Ford said, "Lord Earl, I think it's sufficient to allocate only taxes to the public treasury. You should keep other incomes in the private treasury."

Paul sighed with relief. Just now, he had worried that allocating too much to his personal treasury might cause dissatisfaction among others, but now it seemed unnecessary.

"Ahem, this private treasury is meant for my personal expenses. If the funds in the public treasury aren't sufficient later on, I wouldn't want to supplement from my private treasury. Conversely, I'll also try not to use funds from the public treasury to fulfill my personal desires."

Chief Steward Ford hurriedly replied, "Nonsense, Lord Earl. Even the money in the public treasury is yours to dispose of according to your own will."

The other officials also echoed Chief Steward Ford's sentiments.

Paul waved his hand and said, "Alright, since it's agreed to be according to my will, let's settle it like this."

Seeing Paul so firm, Chief Steward Ford stopped pressing further. In truth, he felt secretly pleased; the lord had entrusted nearly half of the financial authority to the Government House under his leadership, making future work more convenient. With the establishment of various industries, tax revenues within the estate would increasingly lean towards the public treasury.

"Paul!" a voice rang out.

Among those present, only one dared to address the lord directly—Malon Ganard, Earl of Byerldine.

Whenever Paul convened a meeting of the Government House, Malon was always invited. Whenever matters concerning Byerldine arose, Paul sought his opinion, which pleased Malon greatly.

Lately, Malon had become more cheerful. It seemed he had emerged from his previous shadows, actively participating in discussions during meetings and expressing his opinions, but fortunately, he hadn't opposed a single decision.

"What is it, Malon?"

Malon replied candidly, "Let's handle the revenues from Byerldine as well in the same manner. Income from the Ganard family's estates and businesses will be under my personal name, while tax revenues from the estate will go into this 'public treasury,' managed by the Government House."

Byerldine's finances remained independent to avoid giving the impression that Alden was absorbing Byerldine. Despite Malon's unquestioning obedience to Paul, this arrangement suited them both.

Though somewhat surprised, Paul found Malon's proposal quite pleasing. Of course, he had to maintain appearances.

"Malon, you should think it through..."

Before Paul could finish, Malon burst into laughter and said, "Of course I've thought it through! Lately, I've been by your side and witnessed firsthand everything you've done. It aligns perfectly with the goals I set for myself in the past. Moreover, whether it's you or Chief Steward Ford, Alden and Byerldine are treated equally. Since that's the case, why not unite our strengths?"

Paul was genuinely moved. He patted his chest and promised to this blood-brother, "Since you trust me so much, I swear that as Alden prospers, so too will Byerldine. If Alden can have meat, Byerldine won't settle for mere soup."

"I've always trusted you, my brother!"

Malon approached and shook Paul's hand, earnestly affirming.

(End of the Chapter)