Wolves of Hader

Chapter 42

Rac's First Joint-Stock Company.

It was a business idea that came to mind during the Thirty-Year Cold Wave.

Since our guild had also been a joint-stock company, it was a natural thought.

While it wasn't a modern joint-stock company system, the fundamental concept was the same.

Raise investment, conduct the business, and share profits in the form of dividends.

The investment shares could also be traded, much like stocks.

Goose asked,

"I understand you're proposing to run a business using merchants' investments, but how will the merchants trust us enough to entrust their money?"

Urke bristled slightly.

"Even knowing that I am involved, are you saying the people of our territory would not trust us?"

"That's not what I meant..."

"Then, do you think I'd tarnish the trust I've built for just a handful of coins?"

"My apologies. Tsk."

Goose gave an awkward smile.

In truth, Goose was simply stating reality. Trusting a lord and actually entrusting one's money are different matters.

"Once we legislate the relevant law and issue share certificates based on it, everything can proceed. As long as it's specified that profit according to investment will be given. You can also buy and sell the certificates themselves. If a business is likely to succeed, people will try to buy more; if anxious, they can transfer them to others."

"Buy and sell share certificates?"

"Trading shares..."

The Count seemed to be getting the idea. Tapping his fingers on the table, he asked,

"So the share certificates themselves could be used as a trading medium, like gold coins."

"Yes. If the business appears likely to succeed, everyone will try to purchase them for themselves. The opposite could also be true."

"Hm."

The Count was involved in the food business. Since fish prices fluctuate depending on the catch and pork prices frequently spike due to disease, he understood well what caused price changes.

Goose asked,

"But if the price of share certificates rises, will that benefit the merchant guild? Does the increased value mean cash flows into the merchant guild?"

"The merchant guild need only focus on the business, regardless of the certificates. However—"

"However?"

"There might come a time when new share certificates are issued. Say the merchant guild lacks funds and needs to raise more investment, though I doubt the guild will need further capital."

"Right. Buying and selling share certificates is for the investors to handle; the merchant guild need only earn profit."

Seeing the two nod, I spoke again.

"Therefore, the merchant guild must offer a place for trading share certificates and establish the relevant legal framework. Only then can several problems be controlled."

"An exchange?"

"Russell."

Russell took a booklet from his bag and placed it before the Count and Goose.

He'd prepared an overview of the share certificate exchange and various business plans in advance.

Seeing it is often clearer than listening.

The Count read the booklet and said,

"The Goose merchant guild will handle management and trade, the Hader house will oversee resource development and shipping, and I will be responsible for the bank and share certificate exchange... But what is a bank?"

"Consider it a merchant guild where merchants can deposit their excess money."

"Depositing money? Not investing?"

I explained the difference between a bank and a share-based merchant guild to them.

I also explained what a bank does.

To run a bank, trust was essential, but with Lord Urke being well-trusted among the people, he was suitable.

A bank was also necessary for transactional convenience and to efficiently move funds, as well as for future ventures.

Especially businesses such as futures markets needed banks.

Goose reacted positively.

"A futures market? Merchants setting the quantity and price in advance by contract before the delivery date? That way, even if a trade ship sinks or there's drought, prices can't just be set arbitrarily?"

"What do you think would happen then?"

"Then both buyer and seller would suffer fewer losses. Merchants travel for over two weeks by ship, so at least they wouldn't be making wasted journeys. They'd only need to accept goods remaining contracted until the final date."

"What would happen to the east, then?"

"If we managed this..."

Goose's face lit up.

The answer came from the Count's mouth.

"Merchants from across the continent would gather here."

He answered with a smile instead of words.

For that was my goal.

"Currently, there's no cross-continent exchange, but if the merchants open those paths first, it isn't impossible."

"We're not enemies these days either. No matter the reason, the divine order mediates between both continents."

"Yes. There's a long road ahead, but all merchants across the continent must come to Mouk. Trading with contracts instead of goods—and letting those contracts be traded themselves, so merchants set the prices."

"Like an auction?"

"Yes. Then all the money will flow to Lord Urke's bank. There'd be no need to carry around heavy gold coins."

"How so?"

"Credit transactions. Merchants can make deposits and withdraws straight from their region just by handing deposit and withdrawal slips. Directly at local branches of Lord Urke's bank."

"So credit is the key!"

The Count was sincerely impressed.

Only now did the role of the bank seem clear.

After looking at the two of them, I spoke again.

"So, if the great merchants of the continent do business with us—each nation's royal household, sponsored by those merchants, will support the east and our merchant guild. The divine order as well."

The Count's eyes sparkled.

"The imperial family of the empire won't be able to touch us!"

"That's exactly it."

"Incredible!"

Goose burst out in admiration.

Not only would the two houses join forces, but it would unite the entire east.

Beyond that, we'd win support from other continental realms—guaranteeing the safety of the east.

The common folk would earn money, making the east wealthy and improving their quality of life.

The profit-hungry imperial nobles could then be drawn to our side.

Urke and Goose had understood this thoroughly in an instant.

It was not just about earning money.

It was tied to the safety of the east.

/ / /

After returning from the Count's castle.

I immediately began drafting the business documents. A few days later, the special forces set out for training in the south.

That was already three months ago.

While reviewing the completed business documents, I went out for some fresh air and headed to the training grounds.

The soldiers were as earnest in their training as ever. Training was now systematically arranged by squad.

"Zelle! Give us an attack buff!"

"Got it!"

Deng—

One soldier struck the ground with a [Tuning Fork] in his hand. A bell-like oscillation radiated from the tuning fork.

The attacker in the squad, hit by that wave, swung his sword at a dummy. The blade hit the dummy's post with a solid *thud*!

Even though they were ordinary soldiers, the power difference from magic power was no joke.

"My attack went up a bit?"

"My buff is still weak. It's only been two weeks since I changed my specialty to buffer."

"It's fine. Even being able to heal us is something."

"Try defense buff this time."

"Okay."

They were about to practice again when another squad stepped in.

"Zelle! Can you come help our squad for a moment?"

"Me? But I'm still..."

"Hey! Don't you see we're already doing joint training with Zelle?"

"As if Zelle belongs to your squad?"

"Give us ten minutes, just for a defense and concentration check."

"Zelle, I'll buy you some meat. Train with our squad."

"What kind of meat are you buying?"

At that moment, a burly figure appeared.

"What are you punks doing messing with our squad's buffer?"

"Damn it! We want to train with a buffer too!"

"Don't you have a defender in your squad? Go practice shield training or something. Don't make our precious one suffer. Come on, Zelle. Don't fall for bad elder brothers' temptations again."

"What can we do, there aren't enough buffers."

"If you're frustrated, become a buffer yourself. Let's go."

The big warrior led away the young friend known as the buffer.

The soldiers who had been training together just smacked their lips in regret.

This was the outcome of a severe shortage of buffers. So many squads wanted one that it looked like the number of buffers would increase soon.

The soldiers were using the skill and class names as I had set them.

They'd found them odd at first, but now treated them as proper nouns.

Most terms were translated into the local language, but words like "buff" or "heal", which were hard to substitute, had become established as proper nouns.

That was more convenient for me too.

In any case, it was pleasing to watch.

It wouldn't be long before all 120 soldiers reached the level of knights.

Their acquired skills would reach the highest ranks, and, just like in the game, each would come up with their own unique skills.

By the way, a cool breeze was blowing before I knew it.

Wrestling with paperwork for three months, I hadn't even noticed it was already late autumn.

The business would launch in another five months. After passing my documents to the Count and Goose, they'd need time to make preparations as well.

While the two of them busied themselves preparing, our house planned to raise more investment funds. We needed a greater share than the Count or Goose.

Anyway...

I wondered just what kind of training the special forces had done.

Including my elite squad, the entire special forces had been in the south for about sixty days.

It was clear they'd experienced something there, but no one had given me a proper report.

Russell, who had led them, reported that they had conducted field training while surveying the southern colonies.

Donnie said they had mostly hunted monsters.

Russell had said mental strengthening training would take place. But the returned special forces had far surpassed my expectations.

Their eyes and their very aura were different.

It was as if, in just two months, ordinary soldiers had been honed into near-human weapons.

What on earth had they gone through to come back like that?

Since I was out getting some air anyway, I decided to ask Donnie.

Frankly, I'd been too busy with the paperwork to ask how the training had gone.

Leaving headquarters, I headed to the advanced training ground where my personal elite trained.

It had been blockaded with barriers so that not even allies could see it—this was where they practiced high-level skills.

"You're here, sir."

Donnie greeted me first.

The other seven burly men training with him, my personal elite, bowed their heads in turn.

They were all bulked out and had sharp gazes.

It showed how intense their training had been, how much their magic power had increased, and their pride at having been chosen by me.

"What did you do for two months down south? Won't you tell me?"

"We just trained."

"Did Russell tell you not to tell me? What's the secret?"

"It's just, uh..."

Donnie scratched his head with an awkward face. Then he cautiously spoke.

"Actually, we ran into the Tak tribe in the rough southern mountains."

"How deep did you go?"

"Not very far. As soon as we crossed one big mountain range, they suddenly attacked. It was pretty tough from then on."

"You really fought them?"

"Yes. I didn't know the Tak tribe would be that strong. Or that there'd be so many of them in the south."

I didn't press for more.

The beast-warrior Tak were a race said to have produced one of the seven ancient heroes.

Though their intelligence was below that of humans, their physique and combat power far surpassed humans.

Though they weren't human, killing one was not much different from killing a human.

Having gone through that hell, the special forces couldn't help but change.

Since humans had cut off contact with southern Arshaire, the Tak tribe must have flourished immensely there.

I could only imagine how many there must be.

"Were any of the squad members injured?"

"There were some bad injuries, but thanks to healing potions, everyone's safe."

From Donnie's expression, I sensed much more had happened.

There must be a reason Russell had told them not to tell me.

I couldn't imagine my people harming innocents, but...

I looked at the squad again.

The childish looks I'd first met were gone. They all radiated a formidable presence. They seemed even larger now.

I'd planned to have a longer conversation with them since I was here, but a call from Russell arrived at just that moment.

As I left the training ground, there was an unfamiliar officer standing in front of headquarters.

Soldiers had stopped training and were watching.

The officer saluted me.

"It's an honor to meet you. I'm Rail, deputy staff officer of the Imperial Army Eastern Headquarters. The Hader house has received a golden decree addressed to the House from the imperial family, and I've come to deliver it."

"A decree from the imperial family? Let me see it."

"Certainly."

After offering another salute, the officer mounted his horse and left the barracks.

Watching him go, I opened the scroll adorned with the golden eagle embroidery.

I skipped the preamble and only checked the main purpose of the decree.

'... Therefore, if the heir of the house has been determined, that heir must receive imperial recognition, and the house's title must likewise be reconfirmed.'

'Accordingly, His Imperial Majesty is inviting the heir of the Hader house to a celebration commemorating His Imperial Majesty's 35th birthday, so comply accordingly.'

'The imperial family grieves the passing of the previous head of house, Lord Gaz, and wishes for the successor of the Hader house to inherit the rank of marquis.'

An unexpected decree.

I couldn't tell whether it was sent with knowledge of our house's circumstances, or simply without any information.

Could it be that the Syren family sent this decree to gauge our situation?

If my sibling and I were dead, we couldn't attend. If someone was alive, that person had to go.

Anyway, since my father had passed away...

To keep the fortress and our house's title, we had to go. To the imperial family.

Now under the control of the Syren family.

To the empire's imperial court.