Viking: Master of the Icy Sea

Chapter 238: Year-End Cabinet Meeting

In mid-November, the sea conditions in the North Atlantic grew increasingly treacherous. Fortunately, the two-masted brigantine possessed superior resistance against wind and waves, allowing the fleet to return safely to Londinium without incident.

Hearing the news, Wig hurried to the docks to greet them. When he noticed the crew's unusually exuberant mood, a grim premonition surfaced in his mind.

"Did you plunder some port?"

"No, of course not. I reached an agreement with the Governor of Lisbon, who permitted us to sell goods locally. Furthermore, Gijon Port in Asturias allowed us to anchor briefly, on the condition that we hand over iron armor as a mooring fee."

Helgi pulled out a piece of parchment that recorded the prices in Lisbon, the tax rates for various goods, and the merchandise purchased on this voyage.

By the terms of their agreement, the crew would receive half the profits from this voyage, but that alone was not enough to make them this ecstatic. As Wig listened to their boasting, he caught a rather familiar name—the Canary Islands.

"You found those islands?"

Helgi nodded. "Yes. While anchored in Lisbon, the boys were drinking in a tavern and found a local sailor. Under his guidance, we sailed south for ten days and discovered this archipelago."

Following the customary principle of "finders keepers," Helgi should have rightfully become the master of the Canary Islands. However, ownership of the fleet belonged to Wig. After some discussion, Helgi swore allegiance to Wig as the Earl of Canary in exchange for Wig recognizing and protecting his right to rule over the territory.

After the dubbing ceremony concluded, Helgi returned home and tallied up his life savings. The total value came to nine hundred and thirty pounds, most of which stemmed from the annual dividends of the West Sea Fur Company."Not enough. Nowhere near enough," he muttered.

Developing a new territory required ships and sailors, and the Royal Navy had no reason to help him with his private endeavors. Currently, a brand-new two-masted brigantine cost one hundred and forty pounds. Factoring in the expenses of hiring sailors, installing heavy ballistas, and purchasing military equipment, the total expenditure would approach two hundred pounds.

Furthermore, the Canary Islands were located far from Britain. If foreign enemies invaded, the mainland would be unable to provide reinforcements on short notice. Helgi's idea was to construct a stone fortress, which would incur massive costs.

Finally, he needed to recruit a large number of hired hands to reclaim wasteland and plant sugarcane. Nowadays, Britain had plenty of vacant land. Unless the wages were exceptionally high, few people would be willing to journey to the unfamiliar southern seas.

Seeing her husband's troubled expression, Breda tried to dissuade him. "Are you certain you want to sink all your savings into a deserted island? Suppose you fail to grow sugarcane and grapes, how will we survive from then on?"

However, Helgi's determination far exceeded his wife's imagination. Not only did he invest all his savings, but he also used his shares in the West Sea Fur Company as collateral, inviting merchants to provide funding and leaving himself absolutely no way out.

In December, the Cabinet compiled the revenue and expenditures for the year 859 while assessing the work performance of the eleven counties under their jurisdiction.

The officials in the Five Northern Counties and Tyne County were intimately familiar with Wig's temperament. They dared not slack off in these matters, so their work generally met the standards.

The performance of the remaining five counties was atrocious. Not only did their tax collection fail to pass muster, but their work reports were a complete mess. The destinations of many expenditures were left unspecified, and the state of public security was an absolute disaster.

Clearly, the current King was not as accommodating as the Old Royal Family. Wig was furious, and the consequences would be severe. He was already planning massive layoffs across those five counties to sweep away the corruption and inefficiency.

"Next summer, when the new batch of students graduates, exempt them from serving in the Royal Guard and have them directly fill the vacant positions," he instructed.

He quickly jotted down the relevant plans using Chinese characters to prevent any leaks. Once finished, he stretched lazily and headed out to attend the Cabinet meeting.

After a full year of construction, a twenty-foot-high wall had been erected around the perimeter of the Royal Palace. A trench had been dug outside the wall, drawing water from the River Thames to form a moat.

Inside the Royal Palace, the main hall was still under construction, but the rest of the buildings were mostly finished. The Cabinet's meeting place was similar to that of the old palace—an equally ordinary-looking single-story building.

At three o'clock in the afternoon, the Cabinet members assembled, with Gorm presiding over the meeting. Wig did not take a seat; instead, he strolled through the hall with his hands clasped behind his back, listening to his subordinates read off the figures one by one.

In terms of population, the entire British Isles held roughly two million, two hundred thousand residents. Four years ago, during his tenure as Prime Minister, Wig had estimated the kingdom's population to be at that same number. Thanks to advancements in agricultural technology, the populace did not lack grain, resulting in an annual natural growth rate of about one to one and a half percent. Coupled with immigrants from Northern Europe, there should have been an increase of over one hundred thousand people over these past four years.

However, a war lasting more than half a year had severely devastated southern Britain, causing the total population to regress to the levels of four years ago.

Among the regions, Londinium and its surrounding counties had suffered the most severe damage. Farmhouses had been burned to the ground, wells blocked, and wheat fields cultivated for years had devolved back into weed-infested wastelands, requiring a lengthy period to recover.

Across the Channel, West Francia boasted a population of five to six million. With its pleasant climate and abundant resources, it held an overwhelming advantage over Britain. To narrow this population gap, Wig continued to utilize the measures he had previously implemented in the Northern Marches to attract immigrants.

"Inform the merchants traveling to Northern Europe for trade that if their merchant ships have extra space on the return journey, they should invite the locals to settle in Britain. Aside from the Vikings, this also includes the Sami People from Finland and the Slavs from Eastern Europe. The kingdom will cover their passage."

Regarding finances, last year's total revenue was thirteen thousand pounds.

The agricultural tax, commercial tax, and revenues from factories—ironworks, a brewery, shipyards, and paper mills—in the Five Northern Counties and Teyne totaled four thousand pounds. The largest source of growth came from the brewery. The whiskey it produced was highly acclaimed in the domestic market, and with increased production, it could also be sold to Northern Europe and Eastern Europe.

The situation in the newly acquired five counties was dreadful. Aside from York and Nottingham, which were located further north, the remaining three counties suffered from destitute livelihoods and rampant banditry. They provided a mere one thousand, one hundred pounds in revenue.

Customs revenue totaled four thousand pounds, mostly from wool export taxes and woolen cloth import taxes. With the rise of the domestic textile industry, this figure was expected to decline year by year.

The silver ingots handed over by the three silver mines were valued at two thousand pounds.

The tribute paid by the vassals amounted to one thousand pounds.

The remainder consisted of miscellaneous income, including dividends from the West Sea Fur Company, inheritance taxes paid by vassals, and patent fees from textile mills, totaling nine hundred pounds.

The domestic textile industry was developing at a rapid pace. It was projected that the patent fees and related taxes collected next year would increase substantially.

On the expenditure side.

The largest expense was military spending. Maintenance costs for the army and navy—covering wages, board and lodging, and wear and tear on military equipment—amounted to three thousand pounds. The nine new warships commissioned this year cost one thousand, eight hundred pounds. Constructing city defenses and beacon warning systems across various regions required seven hundred pounds. The military stud farm expenses came to five hundred pounds. Altogether, military expenditures totaled six thousand pounds.

Expenses for the administrative system, temples, and schools amounted to three thousand pounds.

Royal Court expenses were two thousand pounds, primarily spent on various banquets. In October, vassals from all over had arrived to pay their respects. After over half a month of extravagant feasting and drinking, the food expenses for more than six hundred nobles exceeded seven hundred pounds.

In other areas, thanks to the financial prudence Wig and his wife possessed, many unnecessary expenses were canceled. As a result, the total Royal Court expenditure remained less than half of what the Old Royal Family used to spend.

Renovating the Royal Palace cost five hundred pounds. Since it was still unfinished, there would be subsequent related costs.

Various miscellaneous expenses amounted to one thousand pounds.

Total revenue stood at thirteen thousand pounds, while total expenditure was twelve thousand, five hundred pounds, leaving a surplus of five hundred pounds. This figure exceeded Wig's expectations. He originally thought they would merely break even this year, or perhaps even need to raise taxes. He had not anticipated being able to save a sum of money.

"Phew. After surviving this initial year, the days ahead will be much easier."