I'm the Dauphin in France

Chapter 1300 Ready for Takeoff

It's important to understand that war reparations were often backed by collateral.

For example, Austria's reparations were secured by the country's customs duties, plus salt and alcohol taxes from all regions except Hungary.

This means that French bonds are essentially secured by various Austrian national taxes. This makes them far safer than bonds issued solely based on the credit of the state.

Given similar returns, anyone would buy these government bonds.

The bigger "killer move" is the anonymous purchase model.

Currently, all government bonds in Europe are purchased through bank registration, and reselling them requires going through cumbersome procedures at the bank. This locks up the buyer's funds. Many factory owners are hesitant to buy bonds because they worry about insufficient working capital.

Joseph's bearer bond system effectively turned these government bonds into a form of "currency." If the holder was short of funds, they could simply offer a small amount of interest and sell the bonds to recoup their investment at any time.

This model sounds simple, but due to limitations in the development of the financial industry and a lack of confidence in anti-counterfeiting technology, countries generally opted for registered government bonds. It wasn't until the 1820s that Britain began to gradually experiment with bearer bonds.

For France, anti-counterfeiting is not a problem.

Currently, France boasts the most advanced papermaking and printing technologies in Europe, and its chemical engineering is unparalleled. Coupled with the experience gained from implementing franc banknotes—the franc has undergone three generations of anti-counterfeiting technology updates in recent years—counterfeiting has become virtually impossible.

Although Godan was a little unsure about bearer bonds, since His Highness the Crown Prince said it was okay, there shouldn't be any problems.

He quickly took out his notebook and wrote it down, then heard Joseph continue:

"As for British government bonds, investors will certainly lose confidence in them after this defeat in the war."

“However, we also need to take the initiative to give this a push. Mr. Godan, you need to do this…”

Godan nodded repeatedly: "Yes, Your Highness. I will arrange for someone to take care of it immediately."

After Joseph finished discussing the national debt, he looked at Berthier and said:
"The arrangements for retired soldiers still need to be improved."

Godan immediately became anxious:

"Your Highness, we really cannot increase the severance pay any further!"

Joseph waved to him:
"No, you misunderstand. The severance pay can actually be reduced."

This time it was Berthier's turn to object:
"Your Highness, I'm afraid..."

Joseph continued:

"Soldiers have been away from home for half a year, or even more than a year, fighting bloody battles for their country. And after being discharged, receiving only 110 francs is simply not enough to make up for their losses."

"For example, many people will lose their jobs as a result."

"The Ministry of the Interior needs to formulate policies in this regard, so that factories that hire veterans can receive tax breaks. The more veterans they hire, the higher the tax break will be."

"We can also organize retired soldiers to receive collective skills training, and then contact factory managers to select and hire them."

"For soldiers who perform well in the military, they can be sent to police academies or economic colleges to study. After graduation, they can work in the police, tax, customs, and postal departments. During their studies, they can receive half their salary to help them make a living. Their severance pay can then be appropriately reduced."

"As for farmers, they are given land tax reductions and exemptions, as well as preferential treatment such as purchasing fertilizers at low prices."

Later generations had many well-established policies for the resettlement of demobilized soldiers, which Joseph simply copied.

This may seem like just a welfare system for veterans, but it actually has a very significant impact.

First, it's about increasing public enthusiasm for military service and their trust in the government. The next time France needs to mobilize its army, it will certainly be able to recruit even more soldiers than it has this time.

Secondly, soldiers returning from the battlefield have a stronger sense of national belonging and honor than those former officials who only know how to coast along. Integrating them into the civil service would greatly benefit government efficiency and even reduce corruption.

Finally, this also helped France's industrial development. The large number of young men leaving their hometowns during wartime inevitably led to labor shortages in factories, impacting industrial production. Government intervention to coordinate the return of veterans to factories was a win-win situation. Furthermore, skills training for veterans could even promote the systematization of industrial worker education.

Berthier hurriedly jotted everything down. Just then, Archbishop Beaumont, accompanied by Emmanuel, strode over, bowed hastily to Joseph, and said urgently:
"Your Highness, the Pope has arrived in Paris, and he hopes to..."

Joseph, gazing at the troops being inspected, calmly said:

"I don't recall ever inviting him. You see, there's an important celebration of France's victory right now, so please forgive me for not being able to host him."

"How about this, let him stay at Notre Dame Cathedral for the time being."

Archbishop Beaumont was taken aback:

"Your Highness, but..."

Joseph ignored him and turned to Emmanuel, saying:

"Where is Archbishop Muzarelli now?"

"He presided over the consecration and inauguration of the Archbishop of Osnabrück the day before yesterday, and judging by the timeline, he should be arriving in Trier soon."

Joseph nodded:
"If he takes the train from Luxembourg, he should arrive in Paris the day after tomorrow, right?"

"Yes, Your Highness. Around the afternoon of the day after tomorrow."

Joseph then looked at Archbishop Beaumont again:

"Excuse me, what were you trying to say?"

“Oh, no…it’s nothing, Your Highness.” The Archbishop of Paris touched his chest and took two steps back. “I understand what to do.”

……

While a grand military parade was being held in Paris, far away on the east bank of the Rhine, Stuttgart was gathering the most powerful people in the German region, preparing for a conference that would have a profound impact on the Holy Roman Empire.

Kobtzel, representing the Elector of Bohemia, entered the new palace in Stuttgart with a frown.

He turned his head and whispered to his assistant:
"Why is the Imperial Diet being held here?"

"Well... it is said that there is a recent outbreak of an epidemic in Frankfurt, and to avoid danger, Archbishop Frederick Karl suggested that the relocation be made to Stuttgart."

Of course, the so-called epidemic was just a convenient excuse. Following France's instructions, Stuttgart would henceforth be the meeting place of the Imperial Diet. After all, the Stuttgart Declaration, representing the French order, was signed there.

Kobbutzl pursed his lips, just in time to see the Salzburg Foreign Minister walking ahead, and quickly caught up with him.

The two exchanged greetings, and Kobbutzl quickly asked:
Do you know Mainz's stance?

The main topic of this Imperial Diet meeting was to vote on who would succeed the recently vanished Elector of Hanover.

The Salzburg Foreign Minister lowered his voice and said:

"Archbishop Karl seems to favor the Count of Weimar."

Kobutzl nodded:

“I also think this is a good decision. So let’s join hands to support Weimar.”

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(End of this chapter)