Joseph immediately thought of the bankers who had been pouring large sums of French funds into England and couldn’t help but grind his teeth in hatred. If he could dig up dirt on these fellows, it would not only please people immensely, but it would also effectively regulate the financial industry.
However, Joseph immediately felt a sense of deflation, as there were still too many targets in the banking industry, and these people were not government officials, which would likely raise objections from Mara, the “Friend of the People,” should the Justice Investigation Department look into them.
If only there was a representative figure in the banking industry who was also an official…
At that moment, an idea suddenly struck him—there was indeed such a person!
Though he was no longer an official, he had served as the Finance Minister for a considerable time and had close ties with the banking industry. In fact, he was precisely a banker himself.
The period when Necker was in charge of France’s finances was exactly when France started down the irreversible path of sustaining its budget by relying on high-interest loans. His successors as Finance Ministers also wanted to break free from the vicious cycle of taking out new loans to pay old debts but were forced to continue borrowing due to the high-interest pressure.
A chill flashed in Joseph’s eyes. Based on Necker’s various maneuvers, it would be a real surprise if there were no problems.
Sending the Justice Investigation Department to investigate him now would not only divert Mara’s attention, but if they actually found something, it might lead to a chain of unscrupulous banking tycoons.
The next morning, Joseph sent Eman to the office of the Finance Minister to retrieve all the financial records from when Necker was in charge of the national treasury (he was a Swiss and couldn’t directly hold the title of Finance Minister, but his authority was not diminished), which filled four entire hand carts.
Joseph instructed Kesode to have the guards escort these documents to the office of the Justice Investigation Department.
Sure enough, without a word from Joseph, Mara came to him by himself the next afternoon.
Joseph used his old method on him.
He started by harshly condemning how Necker colluded with banking industry magnates to maliciously increase financial expenditures, then taking out massive loans from banks, and in turn, funneling exorbitant interest to them. Afterward, he described the severe harm the national financial crisis had caused the French people.
Finally, he pointed the “piranhas” in the right direction—go forth, for the French people, and tear Necker apart!
However, this time Mara seemed extremely hesitant, “Your Highness, please forgive my frankness, but Mr. Necker has a very good reputation. During his tenure managing the nation’s finances, the revenue and expenses were almost balanced. You wouldn’t be trying to smear him because he publicized the Royal Family’s extravagant waste, would you?”
Joseph smiled. Necker indeed knew how to package himself—historically, during the convening of the Estates-General, all three estates had a favorable view of him, and even Louis XVI saw him as a savior.
But as someone well-acquainted with history, Joseph was quite clear about the misdeeds this individual had committed.
“Mr. Mara, a villain won’t have the words ‘bad person’ written on his face. The Justice Investigation Department is there to see through surface disguises and uncover the real darkness within.”
Joseph leaned forward, speaking in a low voice, “Do you know where the first loan that Necker secured for the government after becoming head of the national treasury came from?”
Mara, who had clearly browsed through those financial records, flipped open his notebook and glanced at it, “A Swiss Bank…”
“Exactly,” Joseph nodded. “Do you know that this bank was owned by Necker and his friends?”
Mara was taken aback, then shook his head.
Joseph said coldly, “Which means, the first thing Mr. Necker did upon taking office was to secure a significant deal for his own bank, and the interest rate was quite high to boot.
“There is more you don’t know.”
“For instance, Mr. Necker collaborated with his friends in the English banking industry when he was young, using a substantial amount of funds to speculate on the grain trade between France and England, which caused the price of grain to skyrocket at that time.”
“Also, for example, in order to secure the position of Treasurer-General, Mr. Necker spent hundreds of thousands of livres and added his own bank equity, bribing numerous high-ranking officials…”
No longer able to contain himself, Mara stood up and said, “Your Highness, I will investigate all of this, but it may just prove that you are biased against Mr. Necker.”
Joseph smiled and nodded, “I look forward to you bringing greater justice to the people of France.”
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After bowing respectfully, Mara was about to leave when Joseph added, “Oh, by the way, Mr. Mara, did you just say that the financial revenue and expenditure during Necker’s term seemed to be stable?”
“Yes, Your Highness, that is a fact.”
“The fact is, the so-called balance of revenue and expenditure is based on excessive borrowing. The interest on the loans is not obvious in the short term, making it seem as if the financial situation is alright, but the interest rolls up more and more. The harm will only become apparent after more than a decade.
In other words, a significant portion of the current fiscal deficit comes from the loans of that period.”
“Thank you for your advice, Your Highness,” Mara said again, bowing before turning and leaving somewhat agitatedly.
Having diverted Mara’s attention away from the French Guards, Joseph then summoned Baron Breti and hinted at him that he could be more lenient in his review of the French Guards officers.
Breti was initially appointed as Justice Minister through the support of the Crown Prince and Archbishop Brienne, plus auditing the officers which was a thankless task that could easily make enemies, so he immediately agreed.
…
At the French Guards barracks, the number of letters reporting officers suddenly decreased, and the inspection process of the Gendarmerie sped up considerably.
Marquis Saint Priest, upon hearing the news, was quite surprised that Bertier really had such influence and thus he streamlined all the procedures, almost immediately signing the commission to promote Bertier to Lieutenant Colonel and appoint him as the commander of the third infantry regiment of the French Guards.
However, just after noon, Bertier came to him, indicating he had run into a little problem.
“So, what does your close friend demand now?” Saint Priest asked with a frown.
“Ah, it’s like this, he has a younger brother, who recently graduated from the military academy and is currently just a junior lieutenant,” Bertier recounted the Crown Prince’s request, “He hopes his brother could serve as a battalion commander or something similar in the French Guards.”
Marquis Saint Priest let out a long sigh, once having given away the cow, could he really begrudge giving a piece of the harness?
He nodded immediately and said, “Let it be as he says. Tell him to quickly go to…”
“He studied Cavalry Command, so he hopes it will be a Cavalry Camp.”
“All right, all right! Whether it’s Cavalry or something else, just do it,” Saint Priest rubbed his forehead hard, already numb to it all and just wishing for this nightmare to end soon.
Bertier acted quickly; after being promoted as regiment commander, he immediately went to the French Guards’ barracks with Dibowa and Audric, a cousin of Kesode, to start selecting his troops.