Persian Empire 1845

Chapter 306 What Happens Next

These measures are all aimed at encouraging population growth. Iran is now a major power, but its population is only 2000 million, while the ununified Apennine Peninsula has 2500 million. Therefore, population growth is still necessary.

"Next, we need to focus on building primary schools to ensure that all children can attend school. Universities should also reduce or waive tuition fees to encourage enrollment."

Amir agreed to everything. The Shah spoke so easily, but the ministers had much more to think about. However, given their current efficiency, it wasn't a big deal; they just needed to be more careful when formulating policies.

"Our country still needs to accumulate strength, including population, economy, and military. These all require accumulation. Especially the economy. Britain and France prioritized commerce, which is why they searched for colonies all over the world."

Amir quickly replied, "Shah is right. I was just about to tell you about our country's economic situation."

Nasserdin also wanted to know the state of Iran's economy, so he asked Amir to tell him quickly.

"Shah, our country's exports exceeded 5000 million riyals last year, which is much better than ten years ago."

Of the exported goods, kerosene accounted for half, followed by carpets, cotton cloth, and cotton yarn. Adding grape juice exports, these accounted for 80%.

Nasserdin knew from the state of kerosene exports that Iran's future depended on oil. Currently, Iran's territory is essentially a country built on oil fields; wouldn't it be a waste not to use it?

However, Baku had enough oil before then. It wasn't until the Second Industrial Revolution that oil became more useful. Oil in other places could be temporarily left unexploited; instead, one should assess the availability of other mineral resources.

"It seems that kerosene is our country's most important export commodity. We must be at the forefront of the world in oil development and not let other countries take it away."

Amir flipped through the documents in his hand and continued, "Besides kerosene, our country is also rich in mineral resources. According to the latest exploration report, we have discovered large amounts of copper and iron ore in the northern mountains, with considerable reserves. In addition, small amounts of gold and silver ore have also been discovered in the southern region."

“Copper and iron ore are exactly the resources we need to develop our industry,” he murmured. “With these minerals, we can expand our steel industry and machinery manufacturing.”

Amir nodded in agreement: "Yes, Shah. We have already begun planning to establish several large mines in the northern mountains. At the same time, we are also considering building a smelter nearby to reduce transportation costs."

Heavy industry is generally expensive, often requiring huge investments. And these investments all have to be allocated from the Ministry of Finance.

Our income has grown rapidly, but our spending has grown even faster. We're currently managing to maintain a balance, thanks in large part to Treasury officials. All we need to do is pay off our debt next year.

This should be the Ministry of Finance's pride, because nobody wants to be burdened with debt, not even the country.

Nasserdin smiled with satisfaction upon hearing this. He said approvingly, "You have done a good job. Maintaining fiscal balance is the foundation for a country's stable development. However, we cannot be too conservative; moderate investment is necessary."

Amir responded respectfully: "We have been carefully balancing our income and expenditure while also looking for new sources of revenue. For example, we are considering imposing higher tariffs on some luxury goods, which would not only increase revenue but also protect our domestic industries."

Nasser al-Din nodded: "That's a good idea. But we must be careful not to exploit the people too much. If necessary, we should issue national bonds so they can earn some money too." Unlike those impoverished empires, Nasser al-Din at least wanted the Iranian people to have a better life. The upper echelons shouldn't monopolize all the benefits; the people should also enjoy some.

"Yes, Shah, we will formulate a plan to issue national bonds. The economy is doing well now, and I believe many people will buy them."

The economic report indicates that Iran's development momentum is very strong; according to their estimates, its economic growth should be second only to the United States. Moreover, not only industry, but even gold is showing steady growth.

Iran's gold companies are all state-owned, and the government buys up all the gold they mine. And it's unclear what stroke of luck they had, but they discovered several gold mines. Iran's gold production is second only to the Americas and Russia. Gold is also the foundation of national credit expansion, so it's possible to appropriately increase the money supply to stimulate the economy.

Naserdin continued, "We not only want the people to make money, but also to feel the progress and prosperity of the country. Only then will they be more supportive of our reforms and development."

Amir agreed: "We are already planning some policies to benefit the people, such as increasing investment in education and healthcare, and reducing taxes in some areas. I believe these will take effect soon. I am ready to announce the policies now."

Amir stepped down to formulate new economic policies. Before leaving, he met with Said, whom the Grand Vizier presumably came to report on how much money the Shah had made.

“Shah, we have invested over 200 million in Austria, mainly in Venice and Hungary. We expect to generate 10 in annual income, which will increase over time.”

Nasser al-Din nodded; the benefits of separating royal finances from national finances became apparent. After the national debt matured, Nasser al-Din invested the funds abroad, primarily in the United States and Europe—who, after all, offered the greatest financial rewards.

"There is another matter: the Democratic Party in the United States has split, with the North and South preparing to each select their own candidates to participate in the election."

This is a list of candidates that our people in the US have discussed. Please take a look.

Nasserdin took the documents; the people listed were indeed talented. Most likely, it was John Breckenridge, the current vice president; then there was a Northern Democrat named Douglas. This split vote would surely cause them to lose, benefiting the Republicans.

"It seems the United States is about to descend into turmoil. Will our investments there be any problems?"

"Please rest assured, Shah, there is no problem."

The royal family holds over £1000 million worth of US stocks, and losing them would be a significant loss for them. Now all that's left is to wait for the results.

"By the way, have you greeted the future King of the Two Sicilies?" Naserdin asked.

"We've already spoken with him, and he's agreed to hand over the Sicilian sulfur mines to the Golden Lion Company. All we need to do is provide him with weapons and funds."

Austria, a supposedly prestigious Habsburg nation, ended up needing Iran to provide money and weapons. There was nothing they could do; Austria was poor, and providing troops was already the greatest support they could offer. As for anything else, they had to find their own solutions.

(End of this chapter)