The Former Empress Roughly Hides Her Abilities - Chapter 148

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This chapter was translated by Lunox Team. To support us and help keep this series going, visit our website: LunoxScans.com
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【Episode 148】

“No, if that’s not a big deal, then what on earth would be a big deal?”

Rupert was incredulous. The other two men didn’t ask questions either, but they leaned in with their Adam’s apples bobbing.

“It means something like the sun falling from the sky, the separated Old Faith and National Church reuniting, or the Emperor suddenly dying.”

“Well, that…”

Rupert was momentarily speechless.

It was strange logic, but he couldn’t find anything to refute.

“Of course, those would indeed be big deals if they happened.”

Just as Rupert was scratching the back of his neck and lamenting his own eloquence.

The Duke rose from his seat.

“This won’t do at all.”

“What are you planning to do?”

“I can no longer tolerate the current Emperor as the ruler of the Empire, so I will gather like-minded individuals and launch an uprising.”

Though he called it an uprising, he meant rebellion.

Rupert’s eyes widened as if they might pop out, and Asil was also shocked, but.

“Now is not the appropriate time.”

Rianel alone remained calm.

Rebellions don’t succeed with military force alone. They need the support of the people.

Right now, public resentment toward the Emperor was high, so deposing him would succeed, but what came next was the problem.

A struggle would obviously break out over who would fill that vacant position.

“Even if Your Highness the Princess ascends the throne, whether that would last long is uncertain.”

Taking advantage of the power vacuum, there was a strong possibility that influential nobles from the frontier would try to occupy the Imperial Capital by finding branch Imperial Family members or people with even a trace of imperial blood.

Being able to choose who sits on the imperial throne meant wielding power equivalent to the throne itself.

“Therefore, Your Highness the Princess’s succession must be procedurally flawless.”

Only then could they minimize opportunities for outsiders to raise objections.

Rianel thought there was no need to be impatient at this point.

Neither Yuna nor the Emperor had great political skills or good reputation.

“At present, Your Highness the Princess’s only weakness is her age.”

However, the Princess was someone who held potential.

As time passed, the situation would turn increasingly unfavorable for the Emperor and the Saint.

After hearing Rianel’s explanation, the Duke fell into thought for a moment.

Rianel’s composure was both her temperament and her strength.

Though her strength of not relying on anyone was sometimes disappointing, he also knew that what she wanted wasn’t cheap comfort but trust. The Duke took the most necessary action.

‘I trust Rianel.’

Supporting the conclusion she had been building toward for so long was what he needed to do.

“Yes, I was being too hasty.”

The Duke readily admitted it, and only then could he smile leisurely.

“Then let’s wait and see.”

For the young Emperor’s growth.

Of course, he planned to keep separate the compensation for his daughter’s wrist that he would demand from that Emperor bastard.

And a week later.

A new proclamation from the Imperial Family was posted in the plaza.

It stated that the Imperial Family would mint new currency to secure the necessary funds for the national treasury.

* * *

“The current currency was issued 300 years ago. This system is deemed incompatible with the present.”

Moreover, since the Imperial finances were experiencing some difficulties, the main point was to implement new monetary reform.

The official who had been reciting the Emperor’s words concluded.

“We will issue this Golden Sun Coin as official currency with the same value as 100 gold coins.”

The Empire immediately became bustling with talk.

Rianel pressed her forehead.

‘To think I was married to a madman who tried to solve his personal financial problems with monetary authority.’

The more she reflected on the past, the more shame and embarrassment surged up.

It wasn’t that there had never been emperors who thought like Torbiyan in the age of absolute monarchy.

The Imperial Family could control the amount of currency circulating in the Empire.

There had often been monarchs who desired to obtain seigniorage by issuing large amounts of money, especially paper currency.

Because the Imperial Family would immediately benefit from the difference between the cost of printing currency and the price at which that currency circulated in the market.

But there’s no such thing as a free lunch in this world.

‘The previous emperors didn’t abuse monetary authority for good reason.’

‘Even though they could have done it, they didn’t—not because they didn’t know, but because there were reasons not to do it. Why doesn’t he understand that?’

Rianel could only sigh deeply.

No matter how she thought about it, she felt pathetic for having married such a stupid bastard.

Still, fortunately there was a solution.

A method that could simultaneously boost the Princess’s approval rating.

‘Since the Princess happened to say she was curious about this situation.’

She planned to explain it.

“Your Highness?”

However, when Rianel arrived at the Princess Palace, the Princess was not alone.

There was Rude, looking awkward as their eyes met.

“If it wouldn’t be an inconvenience, could I audit the lesson as well?”

He hadn’t come to the Princess Palace to attend Rianel’s class. It just happened that the Princess’s lesson, held twice a week, was today, and this was the time when it had just finished.

Still, whether to allow auditing was up to Rianel’s discretion, so he could have been refused, but.

“Please make yourself comfortable.”

“It’s, it’s an honor.”

A shy smile appeared on his cheeks.

Soon Rianel took her seat.

“This is problematic, right?”

The Princess said, tapping the table.

“That’s correct.”

However, giving the answer right away wouldn’t help with learning, so she decided to check how much the Princess had studied.

“Why do you think the Imperial Family producing currency is problematic, Your Highness?”

“Well… if currency that replaces a hundred gold coins is released into the market in large quantities, the value of money would drop, right?”

The Princess continued her explanation calmly, slowly but steadily.

“Prices would rise accordingly. Then people would try to stockpile goods as much as possible.”

Then, as a reaction to that, more people would try to obtain goods, causing prices to skyrocket even more in inflation.

“As a result, it would lead to a decline in trust toward the Imperial Family and currency.”

Eventually, the conclusion would be that people holding money are fools. Since no one knows when the Imperial Family might print money again and flood the Empire’s market.

“Excellent.”

Rianel smiled slightly.

Even just this much was enough to surpass children of the Princess’s age.

“What do you think will happen next?”

However, if the opponent was an emperor, she needed to go one step further.

“Uh…”

The Princess rolled her eyes. It seemed she hadn’t thought that far.

“There’s more?”

The silence lengthened.

Rianel waited patiently, but the Princess ultimately couldn’t find the answer and let her eyebrows droop.

As she weakly muttered “I don’t know,” looking quite pitiful, Rude explained on her behalf.

“The goods released into the market would be absorbed as rent.”

“Rent? You mean rental fees?”

“That’s correct.”

When dealing with inflation, it was impossible not to mention land rent.

“From an economic perspective, land is an asset that generates unearned income simply by owning it.”

To understand this, there was one thing that needed to be addressed.

“The price increases will proceed as Your Highness described, but it will take time for the currency released into the market to be reflected in price variables.”

If the amount of currency in circulation increases immediately, people will have more money in their hands. Temporarily, it will appear as if the economy has been revitalized.

“When surplus assets are created like this, most people want to purchase land.”

“Not build noodle factories?”

Rude let out a small laugh.

“Such thinking can only be done by someone with special purposes like Your Highness.”

Business always held both sides of success and failure, so ordinary people found it difficult to challenge easily.

“However, land can generate rental income simply by owning it, and since it’s less affected by depreciation, it’s advantageous for price defense even when held for long periods.”

The Princess thought for a moment and then said.

“Then land prices will rise too. Since people will try to buy land from each other.”

Rude explained as if agreeing.

“That’s right. Rental income will also rise, so there will be more speculative forces seeking unearned income through investment rather than a population that works diligently.”

This would hinder the development of the entire Empire, so it was naturally not good.

“Oh…”

The Princess, who was continuing her thoughts.

“Then what about the large landowners who already own land?”

“They’ve really hit the jackpot. It’s like sitting down and getting hit by a money windfall.”

It was a somewhat crude expression, but the logic was correct.

“Yes, the wealth gap will become even more severe and the Empire will become an unstable place.”

“No, why is His Majesty trying to do such a dangerous thing?”

The Princess burst out in frustration.

It wasn’t that the Empire lacked talent. The Emperor could invite economists to the Imperial Palace anytime he reached out his hand.

He could know what side effects his actions would cause more easily and quickly than the Princess!

Why was he taking a path as obvious as looking at fire?

“Because printing currency is easier than collecting taxes.”

It was obvious, but when the country said it would raise tax rates, almost no one readily agreed.

Sudden tax rate increases led to tax resistance. In the worst cases, riots even broke out.

‘But increasing the currency in circulation has less resistance since there’s no money immediately leaving my pocket.’

But that was precisely the trap.

“Printing currency is the same as charging the Empire’s citizens an invisible tax.”

“Why is that?”

“Because taxes mean transferring the wealth of taxpayers to the state, and currency issuance serves the same role.”

The Empire’s citizens would end up making additional expenditures equal to the risen prices.

This is called inflation tax.

“Then is there no solution?”

“Of course not.”

There was a somewhat certain method.

However, it was a method that required the Princess’s approval.

“I intend to solve it through this.”

* * *

And ten days later.

-Imperial Financial Report

Documents that only high-ranking officials would see were published in book form to the public.

At first, no one seemed interested in this publication, but at some point, it began selling like hotcakes.

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This chapter was translated by Lunox Team. To support us and help keep this series going, visit our website: LunoxScans.com
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