Military Notes 3

Translator: Cinder Translations

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"Yes, we also need to consider the difficulties in allocating various materials and whether it's fair," Catherine added. "I think the soldiers receiving apples might feel unfair compared to those receiving salt because salt is more easily preserved."

"See," Paul smiled, "using physical goods directly to pay soldiers will cause many problems in practice."

"In the ancient, primitive times, people traded goods directly, but as trade grew larger and more complex, direct exchanges became inconvenient. This is when money was invented. Money, as a medium for trade valuation, connected all goods and gave rise to true commerce, leading to the prosperous world we live in today."

"So..." Paul finally revealed the "immature idea" he had mentioned earlier.

"We could create a new type of currency that doesn't rely on scarce metals like gold, silver, or copper but still retains the attributes of money. This currency would only be used within the military and could be called military Notes."

"Remember, the royal family controls shops throughout the kingdom of Aldor. With a decree from the king, anyone holding military Notes could use it to buy goods in royal stores, and the value would be equivalent to the same amount of metal coins. This way, soldiers' pay would be like paying them in metal currency, which solves the current shortage of funds for the kingdom's government."

Catherine thought for a moment. "This is indeed a good idea. But what material should the military Notes be made from? According to what you said, since it still retains the characteristics of money, its raw material should be scarce but not too rare. Should it be made of diamonds? But that's very expensive!"

Paul shook his head. "Paper! We can print complex patterns on paper using uniform methods, just like the gold and silver coins circulating in the kingdom today. For example, the king's portrait and the face value of the currency. A military note with the same value as a coin can be made this way."

Catherine was taken aback and then furrowed her brows. "That seems very easy to counterfeit. I can already imagine a scenario where fake military Notes is everywhere."

Paul nodded. "Yes, I'm almost certain that counterfeit military Notes will appear, but we can reduce the risk of counterfeiting by making the printing process more difficult. We could use complex patterns, hire skilled engravers to create the master plates, and some engravers have unique techniques for anti-counterfeiting. I'm sure the royal family has such talent."

Catherine nodded. The royal family indeed employed such engravers for official seals. When the king issued decrees, the seal would identify whether they were authentic, or else royal decrees would be meaningless.

Paul continued, "The master plates should be kept strictly confidential, and we could impose severe penalties on counterfeiters, like the death penalty, to deter potential criminals. We could also use the material's texture for anti-counterfeiting."

"Should we use parchment? Parchment is hard to make."

"No, parchment is difficult to make, but the technique is known worldwide. Instead, we'll use the type of paper made from plant fibers found in the Northwestern Bay area."

Catherine couldn't help but laugh. "What are you talking about? That paper is everywhere in the streets, and it's not rare at all. I've heard that underground workshops that refuse to pay patent fees are already copying it."

Paul said confidently, "But the paper from Northwestern Bay is still the highest quality, and we can tweak the formula by adding something else, like cotton fibers, to create a paper specially for military Notes. It will have a different texture from regular paper—more durable, more resistant to tearing, unlike regular paper that shreds easily. Since it's for military Notes, we can control its production to make it scarce and forbid civilians from purchasing it."

"Another advantage of using paper is that it will eventually degrade. Unlike gold or silver, which can be stored for generations, paper won't last long, so it will be spent within a certain period."

Catherine thought of another problem. "But will the soldiers accept it?"

Paul replied, "It won't be easy for them to accept at first. In the military, we should start with the lowest-ranking soldiers. They have fewer material needs and, as long as they can buy enough essentials—food, salt, cloth, alcohol—they'll be satisfied. These goods can easily be bought with military Notes at royal stores."

"Officers, however, will be more difficult. They need higher-quality lifestyles, they socialize, and some luxury goods can't be bought with military Notes—not yet, at least, since we'll only allow royal shops to accept it initially."

"Even for soldiers, I don't recommend forcing them to accept military Notes. We could make a deal with them: those willing to accept military Notes can receive one and a half or even double their salary, or be paid half in metal coins and half in military Notes. We should target soldiers from poor backgrounds who have rarely seen money. To them, as long as they can buy the necessities, it doesn't matter whether the money is made of paper or metal."

"As long as royal stores can meet the demand for supplies using military Notes, the currency will build strong credibility among the lower-ranked soldiers."

"Once trust is established, the acceptance of military Notes will grow and spread to the officer class."

As Paul continued, Catherine nodded approvingly, feeling that Paul's idea was becoming more refined.

"Additionally, at the beginning, military Notes can't fully replace metal coins, so I suggest the government set aside some funds. When soldiers and their families have special needs and must use metal coins, they can exchange military Notes for an equal amount of metal coins."

"Please note, all of this depends on having sufficient material supply. If soldiers can't exchange their military Notes for what they need, all promises will be meaningless."

Suddenly, Eileen seemed excited and eagerly suggested, "If that's the case, why limit military Notes to the army? Why not promote it to the entire society?"

(End of the Chapter)

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