Consolidating the Transformation

A month had passed since Arthur's pivotal discussion with his father about the new financial system. During this time, significant progress was made: laws were enacted to regulate banking and establish joint-stock companies, and a stock exchange was successfully founded in the capital. Entrepreneurs across the kingdom were quick to recognize the immense opportunities presented by these changes. As a result, banks began to spring up, new joint-stock companies were founded, and trading activity on the stock exchange increased rapidly. The changes signaled a new era of economic development, driven by innovation and accessibility.

To fund the nationwide railway project, the government started issuing bonds. With this new source of financing, the Ministry of Transportation was finally able to begin laying the foundation for the ambitious railway network. Arthur himself leveraged the opportunities created by the financial system. He sold a portion of his companies' shares on the stock exchange, raising substantial funds that he reinvested into building new factories throughout the country. These factories, designed to modernize production and meet growing demand, became critical to the kingdom's industrial growth.

After finalizing plans with William to secure rails and locomotives in line with the Ministry of Transportation's goals, Arthur turned his attention to managing the affairs of his expanding industrial ventures. He spent hours meeting with engineers, managers, and investors to ensure everything ran smoothly. Once his work for the day was done, he returned to the palace, eager for a moment of rest.

As Arthur approached the palace, he overheard murmurs from the servants discussing troubling news. They whispered about how the kingdoms of Aragon and Fas had officially declared war. Concerned, Arthur decided to confirm these rumors with his father. He immediately made his way to the throne room.

When he arrived, Arthur noticed ministers and high-ranking military officers leaving the room, their faces grim and tired. After they departed, Arthur instructed one of the guards to inform his father of his presence. Moments later, he was granted entry into the room.

Stepping inside, Arthur greeted his father with a formal salute before speaking. "Father, I've heard unsettling rumors—has war truly broken out between Aragon and Fas?"

Cedric sighed heavily, his weariness evident. "Yes, Arthur," he confirmed. "Fas has launched an offensive against Aragon in an attempt to seize control of the Maraz Strait. The fighting has made trade through the strait incredibly difficult. However, because we sell weapons to both sides, this disruption affects us far less than it does other nations."

Arthur nodded thoughtfully, absorbing the information. "Do you believe Fas has any chance of fully controlling the Maraz Strait?" he asked.

Cedric shook his head. "No, I don't think so. As in every conflict before this, both sides will eventually realize that neither can achieve a decisive victory. They'll understand that their best interests can only be secured through negotiation, and they'll strike a new treaty. This war, in truth, is just about determining which side can gain the upper hand in those negotiations."

Arthur allowed a faint smile to cross his lips. "In the meantime, we can continue to sell weapons to both sides and profit from their conflict," he said.

Cedric nodded in agreement. For a while longer, the two discussed the details of the war and its potential impact on the kingdom. Eventually, Arthur excused himself and returned to his chambers.

Once in his room, Arthur poured himself a glass of wine and allowed his thoughts to wander. He reflected on everything he had accomplished since arriving in this world. "In just a short time, I've brought about so many changes," he mused. "Factories, the education system, financial reforms, the railway network… all of it has reshaped this kingdom. But before embarking on any new projects, I must ensure that these changes are fully implemented and spread across the entire country."

Over the next five months, Arthur dedicated himself to overseeing the expansion of the railway network, the construction of paved roads, and the development of factories and schools. By the year 571, a full year had passed since his arrival in this world. In that time, railway lines connecting the capital, the northern and southern cities, and the kingdom's major industrial hubs had been completed.

Mandatory basic education had also been successfully implemented in the major cities, and the migration of people from rural areas to urban centers continued to accelerate. The new financial system had sparked an entrepreneurial boom, with more businesses being established across the kingdom than ever before. Innovations such as steam engines became widespread, driving further industrial growth. As a result, the kingdom's tax revenues soared, providing much-needed funds to support the expanding economy.

As winter set in, the war between Aragon and Fas finally came to an end. Both sides signed a peace treaty, having gained little to show for their efforts. Neither side had achieved any significant victories or territorial gains. However, Pendralis emerged as the true winner of the conflict, with its companies and economy reaping enormous profits from selling weapons and supplies to both kingdoms.

On New Year's Eve, after enjoying a celebratory dinner with his family, Arthur retreated to his room. Standing on the terrace, a glass of warm wine in hand, he gazed out over the capital city. The lights of the bustling streets and factories filled him with a sense of pride and satisfaction. "At this pace, the economic transformation I've envisioned will reach its full potential in just a few more years," he thought. "When that happens, I can finally focus on modernizing the military, a task I've been planning for months."

Arthur had spent the past five months quietly laying the groundwork for the military reforms he hoped to implement. At the university he had founded, he worked closely with William on various projects. These included improving the kingdom's existing gunpowder formula, designing precision manufacturing tools for firearms, and developing plans for armored ships that could dominate naval warfare.

However, Arthur knew that none of these plans could proceed without first addressing several critical factors. The kingdom's steel production needed to increase dramatically, new manufacturing equipment had to be designed and built, and a stable formula for high-quality gunpowder had to be perfected. Additionally, an infrastructure capable of mass-producing these materials needed to be established.

Beyond the logistical challenges, Arthur also planned to overhaul the military's organizational structure and command hierarchy. He intended to create separate training programs for officers and enlisted soldiers, ensuring that each group received specialized education tailored to their roles. Implementing these reforms would require a complete transformation of the military from the ground up.

"This will undoubtedly be the greatest challenge I've faced so far," Arthur thought, a small smile forming on his lips. "But once the military modernization is complete, things will get even more exciting."

Realizing that his glass of wine was empty, Arthur returned to his room. Feeling too tired to pour himself another drink, he changed into more comfortable clothes and prepared for bed. As he lay down, his mind buzzed with anticipation for what the future held.