116 Episode 23 MercureNomics Sanoya Fiscal Consolidati... (1/2)

Many of the nobles of the Lemurian Empire are in debt.

This is not so unusual.

This is because nobles have a social obligation to live in a suitable house, wear suitable clothes, hold suitable events, and give suitable charity to the citizens in order to maintain their prestige.

The landowning aristocracy would also need to build irrigation systems in order to increase the productivity of their land.

When they need a certain amount of money, they borrow money from merchants or other nobles.

It may seem that borrowing money is a bad thing, but the problem is that it is a debt that cannot be repaid.

Lemurian aristocrats receive a certain amount of income from their stipend and land, so they are able to pay interest continuously.

Merchants are willing to lend to them.

The problem is the unpayable debt.

The forty-six families of the Pureblood High Elves are in a state of debt.

If you want to restore their financial health, you must first bail them out of their debt.

We have to issue a moral decree first. If we don't do something about the debt, we'll never get started.

Galfis expressed his opinion to Hercule.

The Galleanos family also has debts, albeit not many. ...... ”If possible, I would like to see our debts eliminated as well,” the intention is transparent.

Moral decree. ...... Hmmm ......

A moral decree.

In other words, a moral decree.

However, if this was done, the merchants would start lending sparingly, and the aristocrats might become impoverished.

However, it was also impossible to ask the nobles to pay the debts they had accumulated so far by themselves.

It is the responsibility of the family to have accumulated this much debt. ......

It is not the responsibility of the current head of the family, so it would be a pity to push him away with the theory of self-responsibility.

It's a bit of a hassle, but we can examine each case individually, ...... write off some of it, and alleviate some of it by having the Julianos family take over .......

There is such a thing as overpayment of debts.

This is the case when the interest paid or payable is too huge because the repayment was made over a long period of time.

In this case, even if the debt is written off, it will not have a significant impact.

The lender has already made enough money.

If the amount of the debt is still too large to be repaid by the individual, the Julianos family would have to take over the debt.

The trouble is that we have to deal with more than several hundred cases, including those of the branch families.

”Does my house qualify?

”How am I supposed to know how much money you have overpaid on your house?

Even Hercule, as expected, does not have a detailed grasp of the Galleanos family's debt situation.

The only thing he remembers is that the amount of money is quite large.

The only thing he remembers is that it's a fair amount of money. ”And then there's the ...... stipend paid in gold.

There are three main types of income for aristocrats.

There are three main types of income for aristocrats. One is monetary income from holding public office.

The second is income from land management and investment.

Finally, there is the stipend ...... given to each family.

In the olden days, the money economy was not widespread, so the payment was in wheat.

This has remained a tradition until now.

However, if you only have wheat, your income and expenditure will rise and fall according to changes in prices. ......

This was a factor in the downfall of some nobles.

How about a stipend based on the number of children you have instead of a fixed amount ......?

”That's a good idea, Christos.

Hercule clapped his hands.

In order for a nobleman to live as a nobleman, he needs to be educated, and he needs to have a good amount of money to acquire that education.

In addition, girls must have dresses and men must have formal wear.

If you wear the same clothes every year, you will be laughed at, so of course you need to change them periodically.

It is also strange that the stipend of a family with no children is the same as that of a family with three or more children.

In the first place, the first duty of the Holy 77th Family is to bear children, support the population of the Long-eared People (elves), and reproduce the ruling class.

If you have many children, it means that you are fulfilling your duty.

That means we'll have fewer. ......

Galfis muttered with a sigh.

The only daughter, Karolina, has married into Hercule, so there are no children in the Galleanos family.

You need to get Mary a boy as soon as possible. At least two is the minimum duty, three is the minimum contribution.

Both Galfis and Mary are still young for elves, so there's not much to worry about.

But the truth is that the stipend and the income from government jobs are not enough, right?　If we don't have some source of income, we'll end up in debt again.

”Yes, that's the main problem, Lucanos. By the way, your family was successful in that direction, right?　What are you doing?

Hercule asks Lukanos.

Lucanos' Lucarios family is financially well off.