章 46: Chapter 46: The Chief of Police and the Director of Education
Chapter 46: The Chief of Police and the Director of Education
"You've done an excellent job!" Joseph praised Friant as he looked at him approvingly. "Continue recruiting new students, and identify those with outstanding potential and ambition to form an 'elite class' for special training. Also, the police academy is in its early stages, so it's fine to make do for now, but we can't continue like this indefinitely. Start building new facilities and purchase the necessary training equipment and gear. Oh, and follow the standards of the Paris Military Academy—our facilities must be better than theirs, not worse. I'll allocate 250,000 livres for the initial expenses."
Friant's heart skipped a beat at hearing such a large sum. This wasn't just building a school for training policemen; it was almost enough to establish a proper military academy! But before he could fully process this, Joseph continued, "This is just the initial investment. I plan to invest over a million in total. Once everything is completed, the school should be able to accommodate more than 3,000 students."
Friant swallowed hard and quickly responded, "Yes, Your Highness!"
Joseph then casually added, "Oh, and everyone's worked hard during the preparation phase of the academy. Allocate 5,000 livres from the budget as a bonus for the management team, including yourself."
"Yes! Thank you, Your Highness!"
The speed at which the police academy was established far exceeded expectations, and Joseph believed that such efficiency deserved a reward. Currently, the academy had about 20 staff members, including instructors, administrative personnel, and those overseeing the construction. The bonus would effectively amount to half a year's salary for each of them.
Besson, who had been sitting nearby, couldn't hide the envy in his eyes. He had initially thought that Friant was merely in charge of a police academy, but it was clear now that this was no ordinary school. Friant's future prospects could very well rival his own as Chief of Police. Determined, Besson vowed to work even harder to ensure his dominance in the police system over Friant.
When Étienne, the general manager of La Ville Bank, arrived at Versailles, it was just after 10 a.m. He was well-acquainted with the workings of the French financial system, having dealt with it for over a decade. It didn't take long for him to find an ally within the system, the Viscount de Lyon, in a secluded corner.
Lowering his voice, Étienne asked, "Viscount, that national debt is about to mature, yet the finance department doesn't seem worried at all. Why is that?"
The Viscount glanced around before replying in a hushed tone, "As far as I know, a 'French Reserve Bank' has provided a loan to the Prince. Your bank's loan, along with Laborde's, is no longer needed."
Étienne frowned, searching his memory, but couldn't recall any bank by that name. Skeptical, he asked, "Are you sure about this information?"
The Viscount's face darkened as he replied, "Are you doubting me? I've seen the loan agreement with the French Reserve Bank myself. There's no mistake."
Étienne was stunned. This was a 6 million livre short-term loan, with La Ville Bank and Laborde Bank each handling half. The interest alone would bring La Ville Bank over 300,000 livres annually, making it a crucial part of the bank's business. If this deal was lost to another bank, he would face severe consequences.
Sweating profusely, Étienne recalled the agreement with the Duke of Orléans: La Ville Bank was to delay the loan until the last possible moment, then step in to provide the funds, with the Duke's people brokering the deal. But things were not going as planned…
Cursing silently, Étienne's thoughts turned to the French Reserve Bank, which he suspected to be a newly established, rule-breaking institution. He resolved to make them pay after reclaiming the loan business. Hastily thanking the Viscount and promising him some benefits, Étienne rushed to the office of the Finance Minister, planning to lower the loan interest rate to 17% or even 16% to win back the Prince's favor.
After Besson and Friant finished reporting on the police system, they rose to leave, only to see Joseph's financial assistant enter, bowing as he announced, "Your Highness, Étienne, the general manager of La Ville Bank, requests an audience with you to discuss the loan."
Joseph's expression darkened at the mention of La Ville Bank. He replied coldly, "There's nothing to discuss. Send him away."
The assistant hesitated before adding, "Your Highness, Mr. Étienne mentioned that, as a sign of goodwill, they're willing to lower the interest rate to 17%."
Joseph chuckled, "Goodwill? He must have heard about the French Reserve Bank. Now he's anxious? It's too late!"
The French Reserve Bank was, of course, the bank Joseph was in the process of establishing. While it hadn't been officially founded yet, that didn't stop him from drafting a loan agreement with the French government in advance.
He instructed the assistant, "Tell him—and the people at Laborde Bank as well—that we won't be needing their loans anymore. Also, when you return, draft a plan to transfer all government loans away from these two banks to others. Name the plan 'Risk Reduction Initiative.'"
The assistant, surprised by the request, quickly bowed and replied, "Yes, Your Highness."
Besson, who was sharp-minded, noticed Joseph's displeasure at the mention of La Ville Bank and silently made a note of it. After leaving Joseph's quarters, he caught up with the assistant to inquire about the situation. Though it involved financial matters, the assistant became more respectful upon learning of Besson's new position as Chief of Police and explained the situation in brief.
Upon hearing that two banks had seemingly tried to undermine the Prince, nearly causing a debt default, Besson's eyes narrowed.
He owed his position as Chief of Police and the responsibility of police reform entirely to the Prince, and he was deeply loyal. Now, someone had dared to make trouble for the Prince. While the Prince might be magnanimous enough to overlook it, Besson, as his loyal subordinate, certainly would not.
La Ville Bank and Laborde Bank? They would pay for this.
Meanwhile, Étienne stumbled out of Versailles, feeling utterly defeated. He had just been informed that not only was the 6 million livre loan deal off the table, but the government might terminate all its cooperation with La Ville Bank…
One of La Ville Bank's core businesses was providing large short-term loans to the government—high interest, almost no risk. But until now, the French government had been so poor it was like a church mouse, always begging the banks for loans. What had suddenly made them so assertive?
Étienne's face was ashen. If this became official, he would face more than just unemployment; the angry shareholders of La Ville Bank might sell him off to Haiti as a lifelong laborer!
Shuddering at the thought, Étienne realized the situation was beyond his control. He could only grit his teeth and return to Paris to report to the bank's board of directors.
(End of Chapter)
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