Steel, gunpowder, and spellcasters

Chapter 331 Speculative Business
The trading of head coupons is currently the most popular speculative business in Thervodan.

The official name of the headcount voucher is [Imperial Calendar 559: Iron Peak County Military Merit Land Exchange Certificate]. The name is so difficult to pronounce that anyone hearing it for the first time would react with, "Huh? What?"

Therefore, in most situations, people unanimously use its colloquial name – headcount coupon.

Since there is no publicly traded exchange for headcount coupons, there is no universally accepted real-time price.

But whether it's a physical head or a piece of paper, apart from the initial period of circulation when prices fluctuated, prices have generally been rising since then, until today.

When news of the outcome of the "Battle of Blood and Mud" reached Zhevodan, those speculators who immediately risked everything to buy the heads saw their wealth increase at least two or even three times.

Even if a businessman is slower to react and more conservative in nature, he won't lose money even if he bets a small amount.

In a business where there are only big profits and small profits, and with a product whose price is always rising, even the most calm and restrained person will feel greed rising deep inside.

For a time, headcount coupons took over the living rooms, bedrooms, and kitchens of the people of Jervodan.

Before the fire, at the dining table, and on the bed, from wealthy merchants and gentry to peddlers and laborers, everyone was talking about head coupons.

They discussed why the price of headcount coupons was going up, how long the price could rise, and whether or not to buy some headcount coupons.

……

Priskin the Elder's study.

“Tell me the truth,” old Priskin tapped his pipe and asked slowly, “How many head coupons have you hoarded?”

"Not much," little Priskin grumbled.

"How many?"

Seeing that he couldn't avoid it, little Priskin said a number.

A very, very large number.

Little Priskin hunched his shoulders, bracing himself for his grandfather's thunderous wrath.

Unexpectedly, old Priskin simply filled his pipe and said calmly, "To be able to get this much with that little capital is quite an achievement."

Having said that, old Priskin gestured for his grandson to sit down: "Speak, tell me everything from beginning to end, in detail."...

A father may be strict with his son, but he certainly can't handle his grandson.

This is probably because there is often an invisible competition between fathers and sons, while only "parental love" remains between generations.

When young Priskin was arrested for plotting a rebellion, old Priskin was so angry that he wanted to break his legs.

After a while, the old man's anger subsided, and little Priskin became his grandfather's beloved grandson again, but he was no longer allowed to participate in the family business.

Priesting & Co. did not spend much money on "head speculation," but it was one of the earliest sellers to acquire heads.

As soon as the news of the victory reached Zhevodan, old Priskin called his grandson into his study, gave him a small bag of gold coins, and told him to buy a few heads.

Little Priskin counted the money, looking troubled: "Grandpa, is this all?"

“This isn’t a business transaction,” old Priskin advised his grandson. “Just make a statement, that’s enough.”

"Oh." Little Priskin was very reluctant.

The reason the old man didn't place a large bet wasn't because he didn't see the business opportunity, but because the Priskin family were already among the wealthiest merchants in Zhevodan, and there was no need for them to take risks.

The old man knew perfectly well that as long as Blood Wolf kept his promise, the price of Herd's head would definitely skyrocket; but to make money, he had to lower the purchase price.

The practice of "buying heads at low prices" is a blatant exploitation of soldiers with military merits, tantamount to undermining the foundation of a blood wolf.

If it were anyone else standing at the table, the old man wouldn't say a word. But he couldn't leave his own grandson, the son of his deceased eldest son, untouched.

“You’ve been on the city walls too, you know how dangerous battles are. A barbarian arrow from Hart could kill in an instant.” Recalling his experience defending the city, old Priskin was also somewhat moved:

"Soldiers risk their lives to get a head, and you bought it easily with a few coins. Is that fair? You might be able to grit your teeth and tolerate minor squabbles. But if you go too far, Blood Wolf will flip the table! Never forget that he's holding a knife."

Little Priskin let out an "Oh," looking quite dejected.

Only the grandfather and grandson were in the study. Old Priskin asked, "Do you know why I've been preventing you from getting involved in business again?"

Little Priskin's voice was so soft it was almost inaudible: "Because I've done something terribly wrong."

Old Priskin then asked, "Do you think I'm punishing you?"

Little Priskin lowered his head and remained silent.

“Your father passed away early, and I am the person who loves you most in this world. How could I punish you in this way? Forbid you from doing business, let you idle around, and end up becoming a pig in a pen?” Old Priskin looked at his grandson, who looked more and more like his deceased eldest son. “Don’t you understand? I’m no longer letting you get involved in business because it’s a more suitable arrangement for you.”

Little Priskin looked up, puzzled.

“Your uncle is timid and cautious by nature. Entrusting the Priskin Trading Company to him won’t lead to its downfall.” Old Priskin sighed. “Don’t you like taking risks? Like gambling? After much consideration, I think another business is more suitable for you.”

"Wh...what kind of business?" Little Priskin was impulsive, but not stupid, and quickly realized what he was doing: "Grandpa, you don't mean you want me to go to...?"

Remembering the phrase etched in his mind, "Don't cry, laugh," little Priskin instinctively shuddered and used all his body language to refuse: "No, no, no... I won't go. Just let me be a pig in a pen, I'm willing to be a pig in a pen... or let me be your apprentice, anything..."

“You’re right.” Even if his grandson wanted to become a penned pig, old Priskin wouldn’t allow it: “I’m going to send you to the Montagne tribunal.”

……

Having taken on his grandfather's task, young Priskin began to ponder where and how to buy heads.

At that time, the siege of Zhevodan had just ended, and the Zhevodan militia had also beheaded many of the barbarians of Hed.

Some militia members, with their families in tow, couldn't wait to exchange their heads for land and wanted to sell them as emergency supplies.
Some militia members share a single merit, and unsure how the land will be distributed in the future, they simply exchange it for money.

Many militiamen were willing to sell the severed heads, but very few were willing to buy them, for two reasons:

First, no one knows whether Blood Wolf will keep his promise.

After all, the traditional culture of men is to "promise official positions before achieving their goals, and then turn their backs on them afterward."

If Blood Wolf were to turn his back on his people, then the head would be nothing more than a rotting, twisted skull, worth not even a copper coin.

Secondly, even if Blood Wolf fulfills his promise and delivers the first kill, the land distributed will definitely be taken back when the New Reclamation Army quells the rebellion, and in the end, it will all be for nothing.

Therefore, even if they sense a business opportunity, most people choose to hold onto their cash and wait and see. They are eager to act, but dare not make any rash moves.

However, for little Priskin, these two questions were not problems at all.

Young Priskin had met Blood Wolf, and although they didn't get along very well, he was certain that Blood Wolf would never easily break his oath.

In addition, young Priskin, while living with his grandfather, came into contact with a lot of "insider information".

For example, the outcome of the Battle of Blood Mud was decided by a charge by a cavalryman—but Tiefeng County had no cavalrymen.

For example, Mrs. Ronald, who was still living in the garrison commander's residence, dismissed the cook and servants;

For example: Grandpa is counting the amount of stockpiled goods in various businesses, and it seems he's about to close a big deal in one go.

All the signs led young Priskin to a bold idea: Could it be... could it be that the New Reclamation Legion was planning to recruit the Blood Wolf rebels?
If that's the case, then the issue of [land legality] is no longer an issue.

Young Priskin was equally convinced that the Blood Wolves would definitely include the demand for "legalization of land grants" in their negotiating terms.

That's the kind of guy he is—cruel, violent, but he would never take advantage of you and just walk away—that's the strong feeling that little Priskin had.

With a golden opportunity at hand, young Priskin could hardly contain his excitement and suddenly felt an inexhaustible surge of energy.

……

Gévordan, the goldsmith's workshop of Iller.

“Two for eighteen.” Little Priskin held onto Iller’s arm tightly.

"No, no, no!" Ile shook his head vigorously. "Impossible."

"Two against seventeen!" Priskin Jr. raised his voice.

With no other option, Iller said, "Young Master Priskin, you should try asking at other workshops."

Priskin Jr. released his grip and slammed his hand on the table: "Then it's two to sixteen!"

“The market price is now 2 for 15.” Ile looked extremely distressed.

"But I need to exchange a lot!"

"That won't work either. If I exchange two, I'll lose one. I can't do this business."

"Gold coins will definitely continue to rise in value, while silver coins are depreciating every moment. By then, you won't even have a way to exchange them."

The goldsmith, Iller, sighed: "We'll have to check the purity of the gold coins first."

"Don't worry! Would I lie to you?" Little Priskin happily took out the money bag he had received from his grandfather: "It's all top-quality Dukat."

“Young Master Priskin, I only reluctantly agreed to the two-to-sixteen exchange because you said you wanted to exchange a lot at once.” Iller’s face immediately fell, and he weighed the money bag in his hand: “This can hardly be called ‘a lot’.”

“There’s more!” Little Priskin quickly pulled a wooden box out of his backpack.

Upon opening the wooden box, one finds gold and silver necklaces, earrings, buttons, cutlery, etc.

Iller's face darkened: "Young Master Priskin, are you planning to flee?"

“Of course not.” Seeing that the goldsmith Ill’s face was so dark it was almost dripping ink, young Priskin quickly tried to ease the tension: “Let’s exchange these gold and silver items for 2 for 15.”

"Two for fifteen?" A few muffled hums came from deep within Ile's nasal cavity: "Melting vessels into coins requires a fire loss fee."

“Then consider it collateral, and I’ll redeem it in a while.” Little Priskin picked up his backpack and tentatively asked, “By the way, do you want to buy a sword? Top-quality steel, the embossing is the work of a master craftsman from Weissenberg… Or do you know anyone who wants to buy a sword?”

……

Gévordan, the home of potter Megan.

A boy about the same age as little Priskin walked into the living room carrying a clay pot: "What do you want? Why are you in such a hurry to borrow money?"

"Never mind that," Little Priskin said impatiently. "I promise I'll give it back to you."

The pottery jar was taken outside, and Megan, the potter's son and little Priskin's childhood playmate, picked up the mallet, stood there dumbfounded for a long time, and finally turned back with a mournful face: "I can't do it."

"I'll do it." Little Priskin took the mallet and swung it hard, breaking the belly of the pottery jar.

Silver coins flowed out with a "whoosh".

……

Gévordan, home of builder Tom.

"Auntie!" Little Priskin burst through the door. "Could you lend me some money?"

……

Recently, there has been an "exchange difference" in the value of gold and silver coins in the Gevordan.

Two gold coins or twelve silver coins can buy a mart's worth of flour, but it takes fifteen silver coins to exchange for two gold coins.

This is because the shadow of war has not yet dissipated, and people generally prefer to collect gold, which is easier to preserve and has a stable value.

Little Priskin used every trick in the book and finally managed to get six thousand silver coins—silver coins minted by the Republic of Palatine.

With this initial funding, Little Priskin did not directly use the money to buy heads. Instead, he first purchased a batch of flour at a low price from the Zhevodan grain merchants under the name of the Priskin Trading Company.

He devised a plan: he hired several homeless men to carry barbarian heads and sell them in the slums at extremely low prices.

Even if the price is set very low, the residents of the slums still can't afford it, let alone dare to buy it.

Only after successfully lowering the public's perception of the value of a head did young Priskin begin trading flour for heads.

In the beginning, young Priskin acquired the head in Zhevodan.

However, he soon discovered that because the Blood Wolves allocated military rations to civilian use, the demand for flour among the common people of Revodan was not high, except for families with many children.

The most needed supplies for the common people of Gevadan were actually non-staple foods, such as smoked meat and vegetables. Some people were even willing to exchange a severed head for a bottle of wine.

In contrast, villages and towns more severely damaged by the war had a greater need for food, and the distribution of food supplies was extremely even. In some villages, the grain cellars were well-preserved, and the Harts found nothing.
In some villages, all the stored grain was looted, and the farmers, upon returning to their homes, were forced to flee the famine again.

Young Priskin sensed an opportunity.

The civilians of Zhevodan are not short of food for the time being, but the army is. This is because the army has to consider the future, not the present.

On one hand, young Priskin traded grain for horse carcasses, using merchant caravans to haul back large numbers of warhorse carcasses from the battlefield, and then exchanging them for heads from the Zhevodan militia.

On the other hand, he spared no effort in hiring people to spread the "heads are useless" theory in Zhevodan and desperately tried to drive down the purchase price of heads.

Things were going well, but little Priskin soon discovered a problem: he was out of money.

Buying grain, sending horse-drawn carts, hiring manpower—everything costs money.

They've collected some heads, but their coffers are almost empty. Because Priskin has been relentlessly pushing down the price of heads, the acquisition price has been decreasing day by day, leaving them with no way to recoup their funds.

Logically, the matter should have ended here.

But just at this moment, other speculators entered the market.

There are many reasons that have influenced the mindset of the merchants in Thevadan, from "not daring to buy" to "buying with courage".

For example, the garrison issued several announcements reiterating the validity of the "Decapitation Order".

For example, the Priestin Trading Company's large-scale acquisition of heads deeply aroused the restless speculators.

Heads suddenly became a hot commodity in Zhevodan, and speculators carrying gold and silver flocked to the slums and military camps, pestering militiamen to exchange those twisted, bluish dead heads.

Little Megan ran up to Little Priskin and asked, "You're borrowing money from me to buy a head?"

"right"

"So how much have you bought so far?"

Little Priskin said a number.

Megan was nearly speechless: "This...you...you've made a killing this time, haven't you?"

Little Priskin, however, seemed a little listless: "Maybe."

"Can you pay me back first?" Megan asked pitifully.

"What? You need the money urgently?" Little Priskin knew his friend wasn't a jealous person.

“The price of heads has gone up a lot recently.” Little Megan fiddled with her fingers. “I’d like to buy a few too.”

Little Priskin had a sudden inspiration, took a breath, and said, "I'm afraid I can't pay you back. All my money has turned into heads, and I don't have any cash."

"Oh," Megan said, sounding somewhat disappointed.

"But I have another way."

"what?"

Young Priskin patted his good friend on the shoulder: "How about I consider you a shareholder?"

……

Gévordan, the goldsmith's workshop of Iller.

"Mr. Iller!" Little Priskin burst through the door. "Do you know what I went to do with the money?"

……

Gévordan, home of builder Tom.

"Auntie!" Little Priskin rushed into the house in a flurry: "Do you know what I borrowed money for?"

……

Priskin the Elder's study.

Old Priskin offered no criticism, no praise, and no surprise. He slowly puffed on his pipe, and only after this point did he ask his first question: "So, you borrowed your second sum of money just like that?"

“We borrowed some, but not much.” Little Priskin dared not show any pride.

"Go on."

……

As more merchants began to participate in this speculative business, the price of heads in Thevadan soared.

It has become extremely difficult to exchange grain and non-staple foods for heads as it did before, and costs are constantly rising.

The partners of Little Priskin's plan was to "sell the heads and then repurchase them in remote villages. The heads outside of Zhevodan should still be cheap, and we can make a profit from the price difference."

“Buying heads in villages and towns is fine, but selling heads is out of the question.” Little Priskin refused resolutely: “A head isn’t just a dead man’s head, it’s a hundred acres of land. How much is a hundred acres of land worth? How much is a head worth now? The price of heads will definitely rise even higher in the future, it would be too much of a loss to sell it now!”

"What should we do then?" Megan spread her hands. "We only have this much money."

"Perhaps... there is another way."

……

Gévordan, the goldsmith's workshop of Iller.

There are three precious metal craftsmen in Gévordan, and the other two have already been invited to the workshop by Iller.

Precious metal artisans often make some investments because they have a lot of gold and silver deposited by customers.

"Wait, what are you doing?" a square-faced goldsmith asked, frowning.

Young Priskin repeated steadily, "Please invest."

"Investing?" Another long-faced silversmith glanced at Iler. "Investing in what kind of shares?"

Little Priskin told the story of his small business.

The goldsmith and silversmith, of course, also knew about the head of the Hard.

But the square-faced goldsmith quickly shook his head: "Doing business involves both gains and losses. When you make a profit, it's fine, but once you lose money, we can't afford to pay it back even if we go bankrupt."

Having said that, the square-faced goldsmith stood up, seemingly to take his leave.

The long-faced silversmith nodded in agreement and sat up in his chair.

“Equity investment won’t do,” little Priskin asked loudly. “How about a loan?”

"How much to borrow?"

"a lot of."

"What kind of collateral?"

"The head of the Hedman."

The goldsmith flatly refused: "No, who knows if the head of the Hed will still be worth anything tomorrow?"

Little Priskin mentioned an interest rate, a very high one.

The square-faced goldsmith fell silent.

The long-faced silversmith asked, "What's the point of setting a high interest rate if you can't repay the principal?"

"Do you know who I am?" Little Priskin retorted. "Do you think I can't pay you back?"

“Mr. Priskin,” the square-faced goldsmith’s tone softened noticeably, “are you… following your grandfather’s instructions, or are you acting on your own?”

“Of course, it’s my grandfather’s job.” Little Priskin simply brushed it off, then offered an even more tempting offer: “I can double the interest for you—but there’s one condition.”

The long-faced silversmith didn't refuse outright, but hesitated before asking, "What are your requirements?"

“I can pay you high interest, and I can use my family’s property as collateral,” Little Priskin proposed with great confidence. “But when it comes to repayment, you must allow me to repay in the form of my head.”

……

Priskin the Elder's study.

"They agreed?" Old Priskin asked, squinting.

"No," little Priskin replied sheepishly.

"Not too stupid."

Young Priskin swallowed hard. "But in the end they agreed to lend me some money—in lien on my head and the deed to Megan's house."

"Oh?"

"Firstly, out of respect for you, and secondly... something happened the next day."

"what?"

"The county government issued a notice saying that all the heads would be exchanged for [head vouchers]."

……

In the days that followed, little Priskin's actions became very simple.

He would buy grain from villages with surplus grain and transport it to famine-stricken villages in exchange for human lives.

On the other hand, he simply used money to buy head coupons from the soldiers stranded in Saint-Claude Town; the hussars were his biggest customers.

The cavalrymen brought by Gaisa were guest troops; no matter how many heads they cut off, they couldn't settle down in Tiefeng County directly.

Therefore, the vast majority of cavalrymen used head coupons to exchange for alcohol, although some cavalrymen secretly hoarded a few head coupons.

During this period, Priskin Jr. sold some of his heads, but mortgaged them more often.

Through buying, mortgaging, and rebuying, as well as absorbing shareholders, Priskin's speculative business flourished until his father, the elder Priskin, heard rumors of his activities and summoned him to his study for questioning.

……

Old Priskin put down his pipe, and little Priskin immediately stood up.

“You’ve gotten into a lot of trouble since you were a child, but I’ve rarely scolded you. Do you know why?” Old Priskin asked.

“Because you love me,” little Priskin answered softly.

“Because your great-grandfather once told me something,” old Priskin slowly repeated his father’s words: “Only those who are capable of great trouble can accomplish great things.”

Old Priskin paused for a moment, then continued, "But a man who can accomplish great things can also cause great disasters. There is often a fine line between accomplishing great things and causing great disasters. I will die sooner or later, and you have to learn to grasp the difference yourself."

Little Priskin remained silent for a long time before answering softly, "I understand, Grandpa."

"It's no use you knowing now," old Priskin sighed deeply. "Go and beg Blood Wolf for forgiveness yourself."

……

The living room of a single military officer's residence.

Three knocks on the door.

"Please come in."

Little Priskin nervously pushed open the door and saw Blood Wolf wearing an ugly knitted cardigan, reclining relaxed on a bench, chatting with a chubby, round-faced middle-aged man in a dialect he couldn't understand.

Seeing him enter the room, Blood Wolf sat up straight.

"Do you have guests?" The chubby middle-aged man tactfully excused himself, "Then I'll excuse myself."

“No need, you have to keep him. This is the person you want to see.” Blood Wolf smiled and glanced at little Priskin: “He is that [strange-sounding Hailan dialect].”

Little Priskin saw the chubby middle-aged man look him up and down, then suddenly burst into laughter: "So it's our little mouse!"

[I won't skip updates, I won't skip updates, I'll definitely update, I'll definitely update, *cough*.jpg
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(End of this chapter)