76 Seeking Approval from Father (1/2)
”What's a bank?” asked Aerwyna with a confused look. Ezra used an English word, there wasn't any word for bank in the Imperial Language, and even credit seemed nonexistent in the language.
”Well, a bank is an organization that holds money, mother.”
”But Castle Blackfyre already has money,” Aerwyna argued she didn't understand the concept.
”Hmm, how do I explain this? I plan to make an organization that lends money to merchants and they will pay us money for letting us lend them money in the future at a percentage.”
”How can you earn money from someone who needs it?” Aerwyna had trouble wrapping her head on the concept.
”Well, first we screen merchants who have a good business plan, and some of them who have established networks. Then we charge monthly until they pay the whole or the principal amount plus a little over it. I'm planning ten percent. We will use contracts to enforce this and if they don't comply we can confiscate their goods or property and sell it ourselves.”
”Wow! That is ingenious Ezra.” Aerwyna nodded and smiled and she kissed her son on the forehead again and pinched his cheeks. ”With the contracts, we can enforce the law and with your father's official approval. I think this business would boom.”
'Yeah, in the future we can also sanction in our domain that only our bank is allowed to lend money, monopoly, after all, is the secret to wealth, 'Ezra thought.
”First we start with merchants based in Bren and interview them. Also, we will need a building for that, an edifice will make us more trustworthy in their eyes.” Ezra told his mother.
”Okay Ezra, I'll talk to your father about that,” Aerwyna nodded.
”Also mom,” Ezra said quietly while looking down on the ground, ”We need money for this of course.”
”Yes, but how much?” Aerwyna asked her son.
”Uhm, uh, around thirty percent of our treasury,” Ezra answered meekly.
”WHAT? Thirty percent? Isn't that a bit too much?”
”I promise I won't squander it mother,”
”I am not the Lord of Fulmen, you should ask your father. Thirty percent is steep,” Aerwyna pouted.
Ezra and his mother went back to Castle Blackfyre along with his guards. He was contemplating on how he should convince his father to let him push forward with the business.
Reitz was busy lording over his subjects, he limited his time judging over their affairs for two hours per day after which a training session followed.