Confidential Report on 1558 Income
...and discussion on a few important issues
Portugal, 1559
…Barnius VI “The Warrior” de Rico, Conselheiro Confidencial dos Reis, fourth Duke of Lisboa, delivering the confidential information on income of major European countries to His Majesty King Sebastião I…
Your Majesty, here is the report on your treasury income for the last year. I also prepared the same data for other important European countries.
…it’s a table and that is the related graph, your Highness
… please, let me assist you…
All numbers are adjusted for the inflation…
Inflation? What is inflated? I heard there is a man in Florence…
…Yes, hmm, this is different type of “inflation”. What you have to know is it’s BAD. And Portuguese inflation is…could become rather disquieting. But let’s proceed with the rest of the data.
Disposable income is the sum of all regular sources of income for your Royal Treasury. That means that war gains and some irregular events are excluded. You can see that almost half of Portuguese disposable income comes from my…er…hmm…the Portuguese Trading Company…
The Portuguese Trading Company…everyone is talking about it, about its immense wealth and unbelievable prosperity, but during this more than a year that I am the King I never found any precise information about it…Could you enlighten me?
Certainly, your majesty!
…well, how to begin…probably the best way is direct approach: it’s your company, Highness. Partly. Our families were the cofounders and the main shareholders. Initially your family owned 1/2 and mine family 1/4 with quite a number of other smaller investors owning the rest. Now the ownership is slightly changed: Your Majesty owns about 1/8 and…
OK, OK…1/2, 1/4, 2/8…it’s all confusing, I trust you to take care about is as it was your own.
Naturally
, Your Majesty, as I said, considerable part of the Portuguese Trading Company is mine. Our families are tightly bonded with it. For example, as usually, whenever you need cash for whatever reason, be it the war for the glory of Kingdom and God or Royal Hunting, I am ready to provide it to your majesty in exchange for a small part of your share of the Company. That way you can be absolutely sure I will run it as it was my own, although I currently control only 5/8…By the way, if Your Majesty ever finds out to whom your great father sold 1/8 of the Company, I would be very interested to know it too…this is important for the Company and for Your Majesty.
Yes, no problem, I regularly transfer all the papers with some numbers on to you anyway. Why would I keep you by my side if not to serve me, right?
…back to that table…what is this culture and research you listed here?
How smart of Your Majesty to point it out! Brilliant indeed! Portugal unfortunately has a shortage of cultural income. Some day we will have to invest in some Art Academies or museums. They are very useful for keeping citizens happy and thus raising the stability of the country. But if we lack cultural income, that most certainly is not the case with the scientific research, which is probably the most important issue in the long term development of the country. Portugal has 2 naval manufactories from the time of your grand father. They were build on the initiative of my grandfather and contribute very much to out naval technology, so Portugal is still the leading nation in that area. Recently we have build 2 refineries. They are a great source of income to your Royal Treasury, but more important is their contribution to research of trade as well as trade efficiency itself. With those investments we should be able keep pace with our ancient competition – Venice and Genoa – as well as with those new trading companies of English and Dutch merchants up north.
To conclude, you can see Portugal firmly holds the second place, after our ungodly rich neighbours…
I am not concerned with Spain. They are good Catholics and have never been enemies of Portugal. You shouldn’t think I don’t remember - infidels from Ottoman Empire are the one who prevented us from seizing the control over Timbuktu COT and two neighbouring provinces with rich gold mines! Look! They are only slightly behind us in income! And now there is little hope we will ever acquire those provinces for Portugal!
Yes, I know. Fortune really turned her back onus on that occasion. And the danger is even worse: infidels are slowly but surely taking control over Arabian peninsula. It is only a matter of time when they will knock on the doors of our possessions there: one of our precious centres of trade in Al Kharm and lucrative spice island of Bahrein…And our east-African colonies are not safe neither…not to eve think about Goa, Zanzibar and Ganges centres of trade! Your Majesty, we will have to talk about that matter really seriously one of this days!
Yea! I must revenge my father! A chrusade against infidels would be for the glory of God and King…
Your Majesty, did you check the numbers about the Ottoman army recently? Revenge? I understand your feelings, but we must think about it very hard. Your treasury can’t afford it right now, and as I said, the inflation is already at a dangerously high level… But sure, you can always reach into your own pockets…and I am ready to help you with the cash for mercenaries…the arrangement with Company shares…
Wait a minute! Didn’t you just said that our economy is doing well? How can you than claim that there is no enough money for the crusade?! Not enough money for the holly crusade?! Be careful what you say! The Pope could…
Never mind the Pope, as in every organised country, treasury department is what is important – we will talk to Pope through his treasurer Cardinal Deeppoketeri. I hear he is again in some troubles.
About Ottomans…there is the matter of the rest of the war reparations they have to pay. I will check the exact amount, but it is not insignificant… I recommend you to send a trustworthy envoy to the Great Sultan and discuss everything with him: the past, this outstanding debt and the future.
Hmm… Naturally, if they still owe us the part of the war reparation we should probably proceed as you suggest… Yes, do so! Send an ambassador and settle it. And inform me about the results – I will be at Sintra palace with my hunting party for a few next weeks.
As you wish, Your Mayesty!
...and discussion on a few important issues
Portugal, 1559
…Barnius VI “The Warrior” de Rico, Conselheiro Confidencial dos Reis, fourth Duke of Lisboa, delivering the confidential information on income of major European countries to His Majesty King Sebastião I…
Your Majesty, here is the report on your treasury income for the last year. I also prepared the same data for other important European countries.
…it’s a table and that is the related graph, your Highness
All numbers are adjusted for the inflation…
Inflation? What is inflated? I heard there is a man in Florence…
…Yes, hmm, this is different type of “inflation”. What you have to know is it’s BAD. And Portuguese inflation is…could become rather disquieting. But let’s proceed with the rest of the data.
Disposable income is the sum of all regular sources of income for your Royal Treasury. That means that war gains and some irregular events are excluded. You can see that almost half of Portuguese disposable income comes from my…er…hmm…the Portuguese Trading Company…
The Portuguese Trading Company…everyone is talking about it, about its immense wealth and unbelievable prosperity, but during this more than a year that I am the King I never found any precise information about it…Could you enlighten me?
Certainly, your majesty!
OK, OK…1/2, 1/4, 2/8…it’s all confusing, I trust you to take care about is as it was your own.
Naturally
Yes, no problem, I regularly transfer all the papers with some numbers on to you anyway. Why would I keep you by my side if not to serve me, right?
…back to that table…what is this culture and research you listed here?
How smart of Your Majesty to point it out! Brilliant indeed! Portugal unfortunately has a shortage of cultural income. Some day we will have to invest in some Art Academies or museums. They are very useful for keeping citizens happy and thus raising the stability of the country. But if we lack cultural income, that most certainly is not the case with the scientific research, which is probably the most important issue in the long term development of the country. Portugal has 2 naval manufactories from the time of your grand father. They were build on the initiative of my grandfather and contribute very much to out naval technology, so Portugal is still the leading nation in that area. Recently we have build 2 refineries. They are a great source of income to your Royal Treasury, but more important is their contribution to research of trade as well as trade efficiency itself. With those investments we should be able keep pace with our ancient competition – Venice and Genoa – as well as with those new trading companies of English and Dutch merchants up north.
To conclude, you can see Portugal firmly holds the second place, after our ungodly rich neighbours…
I am not concerned with Spain. They are good Catholics and have never been enemies of Portugal. You shouldn’t think I don’t remember - infidels from Ottoman Empire are the one who prevented us from seizing the control over Timbuktu COT and two neighbouring provinces with rich gold mines! Look! They are only slightly behind us in income! And now there is little hope we will ever acquire those provinces for Portugal!
Yes, I know. Fortune really turned her back onus on that occasion. And the danger is even worse: infidels are slowly but surely taking control over Arabian peninsula. It is only a matter of time when they will knock on the doors of our possessions there: one of our precious centres of trade in Al Kharm and lucrative spice island of Bahrein…And our east-African colonies are not safe neither…not to eve think about Goa, Zanzibar and Ganges centres of trade! Your Majesty, we will have to talk about that matter really seriously one of this days!
Yea! I must revenge my father! A chrusade against infidels would be for the glory of God and King…
Your Majesty, did you check the numbers about the Ottoman army recently? Revenge? I understand your feelings, but we must think about it very hard. Your treasury can’t afford it right now, and as I said, the inflation is already at a dangerously high level… But sure, you can always reach into your own pockets…and I am ready to help you with the cash for mercenaries…the arrangement with Company shares…
Wait a minute! Didn’t you just said that our economy is doing well? How can you than claim that there is no enough money for the crusade?! Not enough money for the holly crusade?! Be careful what you say! The Pope could…
Never mind the Pope, as in every organised country, treasury department is what is important – we will talk to Pope through his treasurer Cardinal Deeppoketeri. I hear he is again in some troubles.
About Ottomans…there is the matter of the rest of the war reparations they have to pay. I will check the exact amount, but it is not insignificant… I recommend you to send a trustworthy envoy to the Great Sultan and discuss everything with him: the past, this outstanding debt and the future.
Hmm… Naturally, if they still owe us the part of the war reparation we should probably proceed as you suggest… Yes, do so! Send an ambassador and settle it. And inform me about the results – I will be at Sintra palace with my hunting party for a few next weeks.
As you wish, Your Mayesty!
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