Chapter 581 - Issuance of Treasury Bonds and New Gold and Silver Coins

For the sake of the stability and unity of England for hundreds of years, William decided to completely expel these restless Anglo-Saxon nobles, priests, gentry and merchants, leaving only ordinary commoners and serfs who could not read a single word and then assimilated into the Normans.

Now that he had made up his mind, William did not listen to the persuasion of Prime Minister Ladolph to stabilize the overall situation, and sent Duke Richard and his Fourth Army to put down the rebellion of the Godwin family and the Anglo-Saxons everywhere. Morality. Afras.

Compared to William's other sister Adelaide. Morality. Normandy, Emma. Morality. Conteville and William had a better relationship.

As a result, as William's half-sister Emma. Morality. Conteville's husband, Richard. Morality. Afranche was more trusted by William, so he was entrusted by William with the important task of becoming the deputy commander of the counterinsurgency army, responsible for leading the civilian army of the Kingdom of LinkedIn, following the Duke of Richard, sweeping and capturing those Anglo-Saxon nobles.

"As long as you expel all the Anglo-Saxon nobles, clergy, and gentry merchants from the Kingdom of England, then you will be my Earl of Derby!" William looked at Richard in front of him. Morality. Afranche promised.

Derbyshire, the second largest county in the former Duchy of Mercia, after the capital Warwickshire, has developed agriculture and is extremely rich in mineral resources such as lead, zinc, coal, and iron.

It is bordered by Yorkshire to the north, Leicestershire to the east, Warwickshire to the south, Schulsebury and Worcester to the southwest, and Chester to the northwest. Morality. Afrache shows his trust in Richard.

In this quelling of the Godwin rebellion in England, in addition to the Normans, those foreign nobles loyal to William also had to send troops to assist.

Among them the Duke of Leinster Mephistopheles. Hohenzollern and Duke of Gwynness Albert. The two Hohenzollern brothers each sent 3,000 troops. Morality. Ponthieu sent 2,000 troops, as did the Duchy of Ulster of Richard and the Duke of Munster of Rodrigo 2,500 men each. The Duchy of Dekhbas in Welf sent 3,000 troops.

These vassal armies will be met with the Duke of Dekhbas, Maurice. Led by Welf, with Mephistopheles and Guyander as deputies, he advanced from Wales and Somerset to England and eliminated Swain from the west to the south-west. Godwinson.

If the Fourth Army of the Duke of Richard, who was in charge of the eastern battlefield, and the English Nationalist Army, were added, the number of troops dispatched this time would be more than 25,000.

At this time, the Normans invested heavily in England in the north and Aquitaine and Zaragoza in the south, with a force of up to 50,000 troops, including three standing legions, accounting for half of the standing legions in William's hands.

For this reason, Duke Ladolph often complained: "Your Majesty, stop a little, stop a little, the smoke of the last war has not yet dissipated, and you have used your sword and soldiers again this time, and now the kingdom's finances will not be able to support it, and it is continuing to lose blood." ”

In this regard, William did not care, waved his hand and said: "Don't be nervous, I am going to issue treasury bonds to raise military expenses." ”

"What is the national debt, Your Majesty, please make it clear!" Ladolph asked, puzzled.

In response to Prime Minister Ladolph's question, William had already been prepared, and he said confidently: "This national debt, as the name suggests, is a bond issued with the kingdom's taxes and reputation as guarantees.

Treasury bonds are temporarily divided into three-year and five-year maturities, and people who buy three-year bonds can redeem the principal at the Bank of Normandy with the treasury bonds after three years, and at the same time, they can also receive 10 percent of the interest income.

If you buy a five-year Treasury bond, the interest rate is as high as 15 percent.

As the issuer of the Treasury bonds, the Bank of Normandy will take a 5% cut of the bond proceeds as the issuance fee. ”

"The annual interest on the national debt is only about three percent, and even with the Normandy Bank's issuance fee of only five percent, which is much less than borrowing money from Jewish usury merchants." Prime Minister Ladolph first nodded, then frowned slightly, and said, "But with such a low interest, will anyone come to buy it?" Those merchants are the lords who do not see rabbits and do not scatter eagles. ”

William smiled and waved his hand and said, "I have a plan for this.

As king, I decided to set an example by taking out 30,000 pounds of silver and gold from my royal treasury to buy the treasury.

The remaining 70,000 pounds of silver bonds were to be apportioned among the Norman chambers of commerce and churches at their discretion, and the nobles who did not fulfill their obligations to send troops during the war were required to purchase a specified amount of treasury bonds in addition to the shield tax.

And with the exception of the domestic merchants, clergy, and aristocrats, who were allowed to buy treasury bonds, the rest of the foreign merchants who traded to and from England, Normandy, and France were to purchase bonds of a fixed amount.

Of course, I will also give certain incentives to those who buy treasury bonds, such as buying a certain amount of treasury bonds, you can enjoy a certain amount of tax rebate as a reward. ”

"If it is really as you envisioned, the issuance of treasury bonds can go smoothly, and the military expenditure for the war between the north and the south can be initially collected." Prime Minister Radoff said with a sigh of relief.

The corners of William's mouth were slightly hooked, and he took out two new coins from the table, handed them to Prime Minister Ladolph, and said, "Prime Minister Ladolph, you see that this is a new version of the gold and silver coins that I am going to mint and issue.

You know that the gold content of our gold coins is as high as 90 percent, and the silver content of silver coins is also 72 percent, which is too high compared to the gold and silver coins of other countries, which is not only not conducive to the development of our country's commerce, but also will lead to the continuous loss of precious metals in our country.

In order to solve this problem, I decided to take back the old gold William and silver shillings nationwide and exchange them for the two new gold and silver coins. ”

"The fineness of these two gold and silver coins is much lower, Your Majesty." Prime Minister Ladolph said, shaking the two gold and silver coins in his hand.

"Prime Minister Ladolph, this gold coin in your hand is called the Norman pound, which is equivalent to a pound of silver, with a gold content of forty percent, and is minted from gold and silver alloys and other base metals, and costs only about half of its face value.

Another silver coin is called Norman Sue, which is equivalent to one-twentieth pound of silver, with a silver content of 27 percent, and is minted in a silver-copper alloy, which is also mixed with some base metals, and the minting cost is only about 35 percent of its face value.

When we mint and issue these gold and silver coins in large quantities, the kingdom's finances will be much more abundant. William explained with a smile.

"If someone finds out about doing this, someone will poke you in the back." The corners of Ladolph's mouth sketched a smile and he said with a smile.