Aztec gold :D

Maybe they're going broke now that you've taken over all their production capacity?

Panopticon said:

Does anyone know how the amount of money you can take in a peace deal is decided? I often see the amount go down during the war, the more enemy provinces I occupy, the less money I can demand. I can't see much logic behind that..

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It is based entirely on how much money they have. The more provinces you take over the less money they make, simply because you control some of the land. However, at the same time they still have to pay for advisers, merchants, any colonies they have, any remaining armies etc. so will start to lose money quite quickly. Of course, if you want the maximum possible amount of money from the enemy always sue for peace in January.