"To sum it up, the Nobility are doing everything in their power to protect all their special privileges. The Church’s position is essentially the same. The only ones willing to cooperate with Minister Nekker’s proposal were us Mages."

Ironically, on the eve of the Noble Conference, inside information about the Mining Company leaked from the Magic Guild, causing Nekker’s plot to fail. Yet, during the Noble Conference itself, the only ones who voted in his favor from beginning to end were the Great Mages from the Tower of Stars and the Tower of Thunderstorm.

Dipresy, meanwhile, used his influence with the Nobility and the Order Church to get them to promise to cough up a little more, just enough to keep the Kingdom’s government afloat. He wasn’t opposed to reform, but his demands for higher transaction and stamp taxes clashed with the interests of the Robed Nobility. His only option was to win over the Sword Nobles and the Church by making a compromise and a sacrifice... sacrificing Nekker.

With the Minister of Finance’s "radical" plan as a precedent, his own proposal seemed far more "palatable."

Paulina was a little confused. "Looking at the conference minutes, I thought Mr. Nekker’s plan was excellent. He didn’t just blindly favor the King, nor did he completely strip the Nobility of their interests. It even created more room for commercial development and the common people.

"If it could have been implemented, it would have not only improved the Kingdom’s terrible finances, but also made its administration more efficient."

"Because the Nobility and the Archbishops are all sons of bitches!" Pascal blurted out, repeating a conclusion he’d heard at the club. "These people cry about losses if they earn a little less, and claim they’re starving if they have to eat a little less, completely ignoring how many people genuinely can’t afford bread!"

Rorschach shook his head. "But I think many nobles now really would starve to death if they had to eat a little less. His Majesty the King’s own purse is running empty, and the other nobles are not much better off." 𝙛𝒓𝒆𝙚𝒘𝒆𝓫𝙣𝓸𝙫𝓮𝒍.𝒄𝒐𝓶

Ever since the reign of Charles XIV, the trend of extravagance in the Kingdom has grown increasingly intense. This fashion is a burden not only on the Holy Kingdom, but on many of the Nobility as well. To maintain their lavish lifestyles, their expenses have spiraled, and many traditional land-owning nobles find their incomes no longer cover their expenditures, forcing them to take out high-interest loans from merchants.

"Mr. Pierre told me that many minor nobles, even some Counts, are on the verge of bankruptcy. Any reduction to their income from woodlands and serfs would have a massive impact. They have to staunchly defend their special privileges, even constantly encroaching on village common lands and extorting from merchant companies, just to maintain their expensive lifestyles and social standing."

This climate of extravagance and financial crisis defined the Kingdom as a whole, but it also defined the world of the landed Nobility, permeating every level of society.

"Judging by the attendees, the Church can be split into two factions. One consists of the upper echelons, like the Bishops, whose interests align with the Nobility—they’re two sides of the same coin. The Priest representatives, on the other hand, are more sympathetic to the poor masses and are willing to concede some of the Church’s interests. However, they don’t dare to openly oppose the Bishops, and need someone like Dipresy to step up and back them."

This was evident from the speeches given by the Priest representatives.

After Rorschach finished organizing, typing, and proofreading his notes, he had a complete overview of the conference. He concluded, "Neither the Lord Chancellor’s compromised plan nor the issuance of New Coins has actually defused the ’crisis’ bomb. They’ve merely attached a longer fuse to it."

...

「The next day, inside a mansion—the "Friends of Universal Love and Equality" club.」

"...They’ve merely attached a longer fuse to it." Pascal delivered the first-hand news from the Noble Conference, along with "his own" brilliant commentary.

The club erupted in enthusiastic applause. Even Maxim set aside his orange to listen intently to Pascal’s report, clapping along with the others.

"The intel Thor has brought us is very important, and his analysis of the various factions at the conference is very thorough." The club president’s double use of "very" was a strong endorsement of the member "Thor," making everyone else look at the guy who was always dozing off in a new light.

"Why wasn’t the position of the Mage representatives analyzed? I thought the proposal from that... head of the Tower of Stars was quite interesting." Floran, still wanting more, asked if he could elaborate.

’Ugh... Rorschach didn’t mention that!’ Pascal regretted not talking more with his junior apprentice. If he had, maybe he could have been the star of today’s club meeting.

"I... I have a thought." The one who spoke up was Kalar, a struggling lawyer, despite having earned the qualifications to argue before the highest court.

This was because he had the one flaw a man in his profession should never have: a stutter. He often visited the club with a fierce-looking friend and rarely spoke. Today was an exception.

"The Magic... Guild isn’t just made up of... Casters. It also includes many... businesses that create... wealth for the... Casters. Although they receive... preferential tax rates... in the Kingdom, the landed Nobility and... the Church... are hindering their growth. They urgently need a more... just government. They’re confident that in a fairer... environment... they can defeat their... other market... and po...litical rivals."

"So you’re saying the two Great Mages at the conference weren’t just representing the Mages, but also the merchants?"

Floran shook his head. "I see it as just part of the deal. The Magic Guild has always provided protection for its affiliated merchant companies."

Although Kalar was not articulate, his train of thought was clear. He had perceived Kano’s attitude and position, and his analysis happened to coincide with the speech the Great Mage had given at the Magic Guild.

The Workshop Masters and other merchants in the club were more concerned about something else. "Thor, can you tell us about the issuing authority for the New Coins? What are the regulations going to be..."

But before Pascal could recall his junior apprentice’s comments on the matter, an intruder cut his thoughts short.

The young man who burst in held up a small pamphlet. It was brand new, the ink still wet. "Sorry I’m late! Have you guys seen this?"

"See what?" Maxim took the new publication from the latecomer. It wasn’t from some political activist, but from the resigned former Minister of Finance, Nekker.

"’A Financial Report to the King’? How did this get into your hands?" A secret of the Kingdom like this felt dangerous to even hold.

"No, you misunderstand. Nekker himself commissioned a publisher to print it in massive quantities. Right now, you could jump into the Seine River and you’d still see someone reading it!"

This was an exaggeration, of course, but it was true that upon its release, the book spread like wildfire throughout the Royal Capital.

During the Noble Conference, the fat cats in attendance had demanded that Nekker disclose the Kingdom’s finances to them. Nekker had complied... halfway. He did indeed disclose everything, but he did it for all the people to see!

Although it was titled "To the King," Nekker had taken it upon himself to release it to the entire Kingdom.

"I hope to awaken all subjects of the Kingdom, that they may recognize the disaster we face and the humble efforts I have personally made. I wish to make all details public, to demonstrate to His Majesty and to the Kingdom my actions and my principles..."

Maxim calmly finished reading the "parting words" on the title page, quickly scanned the table of contents, and flipped to the sections on "Royal Family Expenditures" and "Pensions for the Nobility." Then, he read aloud to all the members:

"’Royal Family expenditures: twenty-two million Gold Lang. Grants and pensions for the Nobility: ten million, six hundred thousand... Interest to be repaid: forty-one million... And this year’s expected tax revenue is only around one hundred million... To cover public expenses, we still need to take on at least twenty million Lang in new debt!’"

Maxim’s face went pale with rage. "The farmer brings in a harvest, but cannot fill his own stomach! The laborer falls ill, but cannot afford a cure! They give their all to the House of Valois, yet more than half of that wealth is spent on the pleasures of those who do nothing to earn it!

"Everyone, any person with a conscience and a mind can look at these numbers and see who the parasites of this Kingdom are! The iron-clad proof is right here in my hands!"