Princess Tianis Ponders

I returned to the Royal Capital and visited Lady Anatia.

Princess Tianis was with her, so I informed them both about meeting Duke Baroba.

… Behind Princess Tianis, Kanon had returned to duty, supporting herself with a cane while wearing a cast.

Compared to when she had forced herself back to work before, her injuries seemed to have improved, but her determination was still incredible.

She wanted to protect Princess Tianis that badly.

"I was able to deliver the letter and the crown fragment directly. When he learned Lady Anatia was safe, he seemed very relieved."

"I see, that's good. Yohane-san, thank you so much."

"Not at all. It was my pleasure."

"I had no idea such a thing existed… I never knew."

"A lot seems to have happened, so I think only the ducal house passed down the knowledge."

"Hm."

Princess Tianis sat on the sofa hugging her knees.

It was a bit improper, but she was probably letting her guard down and relaxing.

Princess Tianis didn't seem to have any particular feelings about the crown that had been given to Duke Baroba.

I had considered the possibility she might be indignant that the rightful owner was the royal family, but…

No, without the ducal house's backing, she couldn't maintain her royal authority in the first place.

Perhaps there was no point in worrying about it.

I took out the silver ring I'd bought from Ent.

It was well-made for the price, and I hoped she'd like it.

"I found some silver crafts for sale at a good price, so please take this if you'd like."

"Is this a bribe or something?"

"Of course not. It's just a present. You'd assign me work regardless."

"True enough. The nobles are still as untrustworthy as ever…"

"I'm delighted. I'll gladly accept it."

"Please wait!"

Kanon, who had been silent until now, spoke up.

"Your Highness Princess Tianis. You should not carelessly accept gifts without having them examined. Especially as one who will become queen."

"You really think he'd try something at this point? He's had plenty of opportunities and chances."

"That could be precisely how he earns your trust. At least let me examine it first."

"Honestly, you're such a worrywart, Kanon."

"Of course I am. It would be too late if something happened to you two."

She was looking at me with an expression like she might bite at any moment.

But before, she would have refused outright from the start.

The fact that she said she'd accept it after verifying it was safe showed caution, and perhaps her impression of me had improved somewhat.

"Please, go ahead and examine it if you're concerned."

"Of course I will. Hand it over."

She stared at the rose ring as if trying to bore a hole through it.

I'd already had Alexia and Elza check it before giving it to them, confirming it was just a regular ring, so there should be no problem.

Kanon examined it thoroughly before placing the ring back on the desk.

"There appears to be no issue, Your Highness Princess Tianis."

"See, I told you. Making such a fuss over a ring… What wonderful craftsmanship. Was it made by a skilled artisan?"

"I've never seen such faithful recreation of a rose."

Since I couldn't say an Apostle made it, I just gave vague responses.

"There's one for you too, Kanon-san. Would you like it?"

"M-me too? There's no benefit in flattering me. Besides, a ring wouldn't suit me anyway."

"That's not my intention at all. And I think it would suit you very well."

"Hmm. Well, if you're offering, I'll accept it."

I wanted to get along with Kanon if possible.

I didn't want workplace tensions.

It was just something extra anyway, so if such a small gesture could improve our relationship, it was a bargain.

"Now, about the bills of exchange…"

"Ah, yes."

Lady Anatia, who had been admiring the ring, straightened her posture.

Her true self had slipped out a bit.

I was glad she liked it that much.

"In Alsarm, the Kingdom's bills had dropped. About twenty percent compared to the Empire's."

"Twenty percent? That's quite a significant drop."

"The Empire's currency has always been strong, but it seems Kingdom nobles were selling off their bills en masse, causing a sudden drop."

"I thought so. There had been rumors to that effect, but they were cashing out in Alsarm."

"What's that about? The nobles don't trust their own country? How rude of them."

The value of bills in a sense represents the value of a nation.

If that was dropping, there must be underlying concerns.

"Maybe I should just mandate that they be handled at face value."

"I wouldn't recommend that."

"Why not? Wouldn't it be better if the exchange rate were stable?"

"Of course it would. In rural areas, barter trade works, so it's not much of a problem, but when exchange rates drop, prices rise in major cities."

"Then—"

"Who do you think would have to pay the difference between the guaranteed face value and the actual value?"

"Um…"

Princess Tianis began to think.

Lady Anatia seemed to understand immediately, but she put her index finger to her lips in a gesture to keep quiet.

Don't tell her the answer; let her figure it out, she seemed to be saying.

"The money changers who buy and sell bills?"

"That's right. And what do you think they do with the bills they buy?"

"They sell them again."

"Yes. To whom do they sell them?"

"To whom…"

Shopping wasn't something Princess Tianis was familiar with.

Being royalty, if she asked for something, it would be provided.

"If they're at face value, it doesn't matter who they sell to."

"And who would buy that identical item?"

"Honestly, what kind of question is this? That would be… ah."

She seemed to have realized it.

If the Kingdom guarantees the face value of bills, ultimately the Kingdom would have to buy back the bills. Without a final buyer, this wouldn't work.

That would bring the price of circulating bills closer to face value.

It would be equivalent to promising that the Kingdom would cover the difference.

If they did such a thing, the treasury would be emptied in no time.

"It would be possible with an unlimited budget, but that's not realistic. Money is finite."

"You're right. That was careless of me. If I'd said that in front of the nobles, they'd have jumped at the chance."

"If you want to stabilize the exchange rate, the only way is to become economically prosperous. To make everyone want the Kingdom's currency."

"I see… Making a merchant my advisor was the right choice. Please continue to teach me."

"Understood. I also hold Kingdom bills myself, so I'll gladly help."

Princess Tianis would become queen. If the queen was economically illiterate, the nation would perish.

She would have to work hard.