Over these years of peace I have been able to think about the problems that our beloved Serenissima Repubblica faces. We recently stated our mid-term goals as to try to liberate all Italians and Greeks from foreign oppression, rule them all, find them, and in the true faith bind them. I want to call your attention on Theodoros, the only independent Greek country. They are not in immediate danger except from Bohemia (eventually Austria?) that seems to be worried by other matters. Estimated cost of bringing them into our alliance and eventually annex them: around 500[,000] ducats in diplomatic actions (current relation is -160) and 1 BB. Estimated cost from avenging them from their eventual oppressors 300[,000] ducats in military actions (unless is Austria) and 3 BB, plus perhaps some stability hits. Alternatively we can let the matter rest for the time being.
But what I really want to discuss are the economical issues. Despite being a rich Republic, our government is poor. If we discount our military expenses, our annual budget is of only about 125[,000] ducats. Of those, we spend around 50[,000] in equipping and sending our merchants to Centers of Trade, leaving us with only 75[,000] ducats to spend every year. The temptation to turn the coinage machines on is big, but my economic secretary in the Signoria doesn't allow me to do it. We have not been very lucky with our excellent year events or deflations (none in 115 years). We really need to prioritize our expenses, but let's study our country's needs:
2) Stability.
Very expensive. Even at the reduced (less than half BBmax) cost of 981[,000], it takes almost 6 years of no investment to rise a level, and 1 year of full investment. Since we lose an average of 4 levels of stability every 10 years just on random and policies, that means that we are losing at least 20% of our technological investment. More if we declare wars or break marriages while honoring. We are also losing a lot of money from trade. In the last 5 years we spent about 250[,000] ducats in sending 21 merchants, and 80% of them were successful, yet we ended with the same amount of merchants, and no doubt our low stability played a big role in losing so many merchants. How to reduce that cost? Let's see its components: Our base stability cost is 494[,000] (26 x 19) ducats that can only be reduced by being narrow-minded and turning our subjects into serfs. Since we seem to prefer to be innovative (5) and having free subjects (0), it is 617[,000]. Our rather bad reputation increases that to 739[,000] and our inflation to 816[,000]. Since we have four orthodox provinces it ends up being 981[,000]. We can reduce it by:
A. Converting the orthodox. Estimated cost of converting Hellas, Macedonia and Kerch (cost x 1/chance) is 1,760[,000] ducats. Reduction in stability cost is 124[,000] ducats per level, or 13%. Kosovo only, has a 25% chance, so its cost alone is estimated at 740[,000] ducats.
B. Building a Fine Arts Academy. For an estimated cost of 1,200[,000] ducats it will reduce the stability costs by 1%, and reduce the time to increase a level to 4.8 years without investment, or negligibly with full investment. It also has a small positive effect in the economy.
3) Promotions.
We are already able to appoint Chief Judges, and by 1550 we should be able to appoint Governors. These are expensive officials, and to cover all our provinces with one of each will cost us the not too shabby amount of 5,720[,000] ducats. Surely we don't need a Chief Judge in Malta (we don't even have a tax collector there yet, so they are a happy bunch of Maltese), but some of them are probably beneficial for our country.
4) Gifts.
To keep in the good side of Spain, Austria and Savoy is proving ruinous, and they quickly turn back to hate us. It might reach a point in which it is cheaper to risk war with them. If we want to bribe other countries to come to our alliance or to trade maps with us, we might have to aprove special minting for it.
5) Maps.
Spain clearly refuses to share her maps. If we decided to bribe other country or go on a military map expedition we are going to need money for it. Otherwise we might wait for some of our brave young nobles to turn into a explorer.
6) Manufactories.
Our manufactories are growing old. We used to build a refinery every 20 years, but the most recent one is from 40 years ago. We should build more refineries to improve our trade and our economy. We do not lack excellent wine regions for them.
So now let's go to the decision taking:
[size=+1]Election 46. Economical choices and more[/size]
Answer YES or NO to ALL the options. In some questions you can answer YES or NO to both, as they are not mutually exclusive.
1) General policy on minting to cover these needs during the next 15 years, before Governors are possible.
A. 10.5% Inflation is enough. Do not mint before Governors.
B. We have to take care of these needs now. Mint as necessary for approved policies and we will take care of inflation in 15 years.
2) Stability
A. Convert for as long as we have good ADM Doges
B. Build a FAA
3) Promotions
A. Promote Chief Judges in high population provinces
B. Promote Chief Judges in all provinces
4) Gifts
A. Continue bribing dear friends as possible
B. Bribe only allies and candidates to allies
5) Maps
A. War to Portugal then.
B. Bribe East countries.
C. Wait for a convenient war or our own explorers
6) Manufactories
A. Build another Refinery.
B. Best province for a refinery: (Ionia, Cyprus, Firenze, Dalmatia)
7) Theodoros
A. Bribe to join our alliance (1 BB)
B. Recover with due caution from whoever takes them out (3 BB)
C. Ignore them
8) Alexandria
A. Go for it at any convenient time (6BB -2Stab)
B. Wait for a CB against Egypt or eventually OE (3BB)
C. I rather have peace than Alexandria. Wait for a defensive war (1BB)
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