The Debtor Was...

The trade fair has begun.

Walking down the street, the counters are piled high with goods. The shouts of merchants are constant.

The once prosperous Dadir City seems to have returned.

It's clear that Baron Ciss did his homework. Putting aside everything else, just gathering so many merchants would take considerable effort.

Like the other local nobles, Hudson only looked and did not buy. This was an agreement made beforehand: no matter what goods appeared in the city, no transactions would be made this time.

As for the future, we'll see when the time comes. Even nobles have a limited memory. Although emotionally, no one wants to see the Northern Aristocrats become too powerful, the Southern Region does indeed need a commercial center.

If several Dadir City become commercial centers, it will bring enough benefits to everyone, and I reckon no one would refuse such convenience.

Without the support of major investors, transaction volume naturally wouldn't increase. The contributions of just a few dozen Northern Nobles are far from enough to support a commercial center.

Unsurprisingly, Baron Katerley failed to sell a single Beastfolk slave. Not only were the local nobles unwilling to buy, but the Northern Nobles also turned their attention to the business.

Despite Baron Ciss's intervention, it's unfortunate that all the Northern Nobles possessed a large number of Beastfolk slaves. If they hadn't known they couldn't sell them, they probably would have done so to raise some cash.

There's no way around it; the Beastfolk slaves are simply useless. Aside from some simple manual labor, they can't do anything else.

The main problem is the language barrier, which makes it difficult to carry out any training or discipline smoothly.

Not every territory has endless hard labor, and when the number of slaves exceeds the demand, lords naturally stop buying more slaves.

Although everyone sympathized with Baron Katerley's plight, it was only lip service; they were far from ready to offer any real financial support.

Besides, it wasn't that no one offered help. A group of Northern Aristocrats pooled together several thousand gold coins and lent them to Baron Katerley in case of emergency.

As fellow entrepreneurs, we all scraped together this money from our own meager savings. To have gone this far is already quite generous.

After all, although they were all Northern Aristocrats, the Northern Frontier was a vast and boundless land, and most of them had never interacted before.

If it weren't for a chance encounter that brought them together to head south, they probably wouldn't even have the friendship they have now.

"Baron Katerley, it seems these slaves are unwanted. Keeping them around is pointless except for wasting food. Let's find an opportunity to get rid of them!"

Ciss offered his sincere advice.

While the reputation of slaughtering slaves is unsavory, there are always ways to cover it up. Keeping these idle people around might not damage the reputation, but it would be too much for the wallet!

Baron Ciss felt the pressure after only helping to take care of the baby for two days. He knew he wouldn't be able to handle Baron Katerley if he stayed.

"Your Excellency Baron Ciss, this is far too cruel. Perhaps we should wait and see. No one wants these slaves now because it is the off-season for farming."

Two months later, when spring plowing begins, lords who need labor will likely make purchases.

"Rest assured, consider the daily expenses of these slaves a loan from me. I will return them as soon as they are sold," Baron Katerley said sincerely.

Anyone unaware of his true intentions might think he cared deeply about the lives of these slaves, but in reality, he was merely pursuing his own interests. Since the slaves were now being supported by Baron Ciss, his burden had been greatly reduced.

If they could delay until spring planting and sell these slaves, they would make a fortune.

However, this is only a possibility. No one can guarantee whether the local nobles will lack labor during the spring planting season.

At least during the autumn planting season, they were able to complete the sowing with the help of relatives and friends.

It's not impossible to borrow people again during the spring planting season. Most nobles would be willing to do favors that involve no risk and require little cost.

If these slaves still can't be sold by the time spring planting season arrives, not only will Baron Katerley be finished, but Baron Ciss will also go crazy.

The poor are incapable of repaying their debts. The daily expenses for the food, drink, and sanitation of more than 20,000 slaves were a considerable sum.

Even if we calculate based on an expenditure of three copper coins per person per day, 25,000 people would still have to spend 75,000 copper coins a day, which is equivalent to 50 gold coins.

Over two months, at least three thousand gold coins will be wasted. And this is just the most basic expense; the cost of the army guarding the slaves hasn't even been factored in.

In case of an accident, such as a slave revolt, who knows how much damage would be caused.

What's more troublesome is that even after spending all that money, the huge problem of Beastfolk slaves still hasn't been solved.

Returning the goods was impossible; slave traders of that era didn't offer the option of returns.

Perhaps Baron Katerley, that unlucky fellow, will be chased all over the world by creditors in the future, but Baron Ciss, who took on the burden of slavery, will inevitably suffer heavy losses as well.

"Impossible!"

"Baron Katerley, if you insist on keeping these slaves, then take them home and raise them yourself!"

Dadir City does not welcome slave traders. I will immediately enact a law to prohibit the slave trade here.

Ciss said coldly.

As a lord, one has the right to legislate within one's own territory.

If the creditors weren't so powerful, Baron Katerley could have made his own laws to shut them all out.

"Your Excellency Baron Ciss, I didn't want this either. But there's no other way. If I deal with these slaves now, all my investment will be lost."

As agreed, my debt repayment period is only six months. If I fail to repay the debt within six months, you can imagine the consequences.

If you can step in and persuade the creditors to agree to postpone the debt collection, I will do as you wish immediately!

If you can't do that, then there's nothing I can do; the people will just have to stay with you for now. Do whatever you want with them; I'm not taking them with me.

Baron Katerley said with a "what's the use" attitude.

Even offending Baron Ciss to death is better than being hunted down by creditors. Right now, Baron Ciss has the most substantial wealth in both Laite and Huaidun counties.

Baron Katerley couldn't find a better way than to cling to him.

"That's impossible! You have too much debt, I don't have the face to do that. You'd be better off asking your father for help."

If Viscount Hank Kage were willing to step in, perhaps everyone would give you another chance.

Maple Leaf Territory has fertile land; with diligent management, there's still hope of paying off the debt within five years.

His voice trailed off, clearly indicating that even Baron Ciss himself didn't believe this nonsense. No matter how fertile Maple Leaf Territory was, it still needed to be maintained!

A wealth accumulation model that only calculates income and ignores expenditures is simply a scam.

There are plenty of territories that can earn a high income of gold coins, or even tens of thousands of gold coins, in a year, but very few territories can still save tens of thousands of gold coins after spending all their money.

Let alone Maple Leaf Territory, even if Dadir City were well-managed, Baron Ciss wouldn't dare guarantee that he could save tens of thousands of gold coins every year.

If we only consider territory income, the five major clans in the Northern Frontier each occupy more than a province, earning millions of gold coins annually, yet they still end up spending more than they earn.

They were able to maintain this because the great nobles had other businesses.

Baron Ciss wanted to develop Dadir City into a commercial center in the south, ostensibly for tax revenue, but in reality, it was to attract people and develop his own industries.

Relying solely on that small amount of tax revenue would probably not even be enough to cover daily expenses.

The real money is made from renting/selling shops and residences within the city, as well as selling grains, vegetables, meat, and other daily necessities produced within the territory.

Maple Leaf Territory can't copy this kind of gameplay. It's fine for a peaceful life with just farming income, but getting rich overnight is simply impossible.

Perhaps feeling the idea was too bad, after a pause, Baron Ciss added, "Perhaps you could go and talk to that Mountain Baron."

If we were to say which of the two counties has the greatest need for labor, it would be that guy.

Even if the population of the territory exceeds 20,000, that guy's appetite will still not be satisfied.

Since you've already dealt with him before, just sell the slaves to him at a discounted price. As long as the price is low enough, he won't complain.

"At worst, I'll lose some money; it's better than dragging this on. You have to understand that every day of delay means you're losing nearly a hundred gold coins more."

This is the truth, although the Ciss don't want to give aid to the enemy. But rather than having a hot potato stuck in their hands, they'd rather let the enemy benefit from it.

After this period of contact, he discovered that Hudson's strengths lay in military and territory development, but he didn't really see how strong his political skills were.

At the very least, if he were in his position, he wouldn't be supporting his competitor.

Since political means are inadequate, the level of danger has decreased. Developing territory is not wrong, but focusing solely on territorial development is a major mistake.

"It's no use, that guy is heavily in debt now too. That idiot has poured all his money into developing the territory."

Now that the situation has stabilized, the junk that guy produced can no longer be sold; he can only sell some farm tools and daily necessities.

If it weren't for the fact that he could use the iron products he produced to pay off his debts, his situation wouldn't be much better than mine.

"I've invested over 60,000 gold coins in the cost of these slaves alone. Even if I sell them at a loss, do you think that bastard has the ability to buy them?"

Baron Katerley said, feigning helplessness.

He wouldn't say a good word about Hudson in front of Baron Ciss. Besides, he didn't like Hudson to begin with, and what he was saying now was what he really felt.

The unexpected answer left Baron Ciss with mixed feelings. The financial troubles of his rival were undoubtedly a good thing, but tragically, the problem seemed inescapable.

"Kateley, what do you want?"

If you're talking nonsense about me solving your debts, then there's no need to say anything.

We're all smart people; you should know how big a mess you've made.

An investment of over 60,000 gold coins resulted in a pile of junk. Even if some of the high-quality slaves could be sold, the loss would still be no less than 50,000 gold coins.

No one can bear such a huge financial loss for you. Even if it causes the plan to fail, I cannot agree to it.

I've done everything I can for you. My colleagues in the Northern Frontier all have large amounts of slaves tied up in their own hands; they simply can't possibly take over your business.

Baron Ciss said coldly.

If the situation weren't so inappropriate, he would have loved to kill this annoying guy in front of him right now. Compared to this guy, he suddenly found "Hudson," who was his enemy, to be as cute as Little White.

"Of these 60,000 gold coins, more than 50,000 are debts, and these must be resolved."

Of these slaves, those that can be sold can probably bring back 10,000 gold coins, leaving a funding gap of 40,000.

I can borrow about 10,000 gold coins from my relatives and friends in the north, and my clan can also lend me 10,000 gold coins.

My colleagues lent me several thousand gold coins, and I can also cash out several thousand gold coins for my weapons, equipment, and warhorse. Now, I only need ten thousand gold coins to get through this crisis.

Therefore, I hope that you will be generous enough to lend me ten thousand gold coins to help me through this difficult time.

Baron Katerley spoke earnestly.

The deficit decreased from 50,000 to 10,000, and Baron Ciss's expression improved considerably. However, he was still hesitant about whether to lend the money.

His intuition told him that things couldn't be that simple. Under normal circumstances, if Baron Katerley asked to borrow money, he would most likely be able to get it from friends and family.

But things are different now; everyone knows he's lost a lot of money. Before lending him money, we have to consider his ability to repay.

What if they realize they can't cover the losses and just run away with the money?

Similar incidents have occurred before on the Aslant Continent. When this happens, everyone can only accept their bad luck; cross-border debt recovery remains just a pipe dream.

"If I don't agree, you're not planning to lead a group to rob a caravan, are you?"

Baron Ciss asked uncertainly.

For the Northern Nobles, robbing was the most common practice when they were broke. At other times, Baron Ciss would not meddle in other people's business.

But that won't work now. Dadir City hasn't established a good reputation yet, and then the big news of merchants being robbed spreads, and the rest of the story can't be told.

"If it really comes to that, there's nothing I can do."

Baron Katerley shrugged, admitting that he had such intentions.

Holding the extorted gold coins, Kateley knew she had seriously offended Baron Ciss, and that even maintaining a facade of friendship would be difficult in the future.

"Prepare the car; we're going to visit Baron Hudson."

"Kateley, wouldn't it be a bad idea to go now?"

"Knight Holman said with concern."

It's incredibly unethical of him to visit his enemy right after receiving money from Baron Ciss, especially on his own turf.

"If I don't find him, what will happen to the slaves I have? Do I really have to get rid of them and be branded as a cruel person?"

Baron Ciss is already being very kind by lending me 10,000 gold coins; I can't push him too far.

Even with these 10,000 gold coins, what am I supposed to use to fill the huge hole left?

Uncle Holman, you don't actually think that at this point, anyone would actually lend me money, do you?

Even within the family, if they knew this news, they would probably harbor resentment.

Rather than putting everyone in a difficult position, it's better not to bring it up at all, to avoid hurting feelings.

"I said with a self-deprecating laugh, "Baron Katerley said.

You'll never know how bad your interpersonal relationships are until you ask to borrow money. Even nobles you used to be on good terms with only offered two or three hundred gold coins this time.

We'll all need to support and look out for each other in the future, and they're only willing to lend this little bit of money now. It's even more difficult to ask friends and relatives far away in the north, with whom we'll have little contact in the future, to contribute money.

After all, nobles value mutual benefit; they can't expect others to make unilateral contributions without seeing any return!

Having seen through all of this, Baron Katerley did not complain or blame others, but chose to deal with it proactively.

At least from their last conversation, he was certain that Hudson was interested in these Beastfolk slaves. Although this buyer might not be wealthy, he was still a buyer nonetheless.

After going around in circles and tricking Baron Ciss, the two reappeared at the negotiating table.

Hudson remained largely unchanged, but Baron Katerley's mindset had shifted. Harsh reality had taught him that the network of connections he had cultivated was unreliable.

During the last negotiation, he still had some confidence. He thought the worst outcome would be losing money, and with the help of relatives and friends, he could at least keep his territory.

Reality was a slap in the face. If it weren't for the kingdom's strict fiefdom system, some people might have even been hoping he would go bankrupt so they could take over his fiefdom.

"Baron Katerley, to be honest, I am indeed interested in these slaves, but the Mountain Territory is currently short of funds, and the most cash it can use is 20,000 gold coins."

If we were to close the deal at this price, you would likely suffer a huge loss. Such opportunistic profiteering is not in line with chivalry, which is why I didn't make a bid last time.

Upon hearing Hudson's words, Baron Katerley secretly groaned in despair.

It's already ridiculous for a shrewd businessman to talk about "chivalry," but now he can't laugh at all.

The only buyer lacks financial resources and keeps saying he won't take advantage of the situation, but isn't that just asking him to hand himself over to be robbed?

This is a classic case of wanting to have one's cake and eat it too, without wanting to bear the moral pressure. When word got out, it wasn't that Lord Hudson was taking advantage of the situation, but rather that Lord Hudson was helping someone in distress.

As for Baron Katerley, he was, of course, an irredeemably foolish supporting character. After all, he'd already earned the title of "the dumbest slave trader."

"Baron Hudson, 30,000 gold coins! For just 30,000 gold coins, I'll sell you this whole batch of slaves."

Now that things have come to this point, I no longer need to hide anything. I spent 60,000 gold coins just on the cost of acquiring these slaves.

"I'm selling it at half price now, and I still have to take out loans to pay the remaining balance. If the price drops any further, I'll go bankrupt."

Baron Katerley said with a helpless expression.

I'd guess he's the most unsuccessful businessman in the entire mainland. While others haggle to make more profit than they gain, he's different; he's just trying to avoid going bankrupt.

"Baron Katerley, don't be in such a hurry. Even if I manage to raise 30,000 gold coins for the transaction, I'm afraid your days ahead won't be easy."

Developing a territory is very expensive. No matter how good the foundation of Maple Leaf Territory is, it will be difficult to break even in the first two years. You can't do without enough working capital.

How about we change our cooperation method? I'll buy these slaves at the original price. However, instead of cash settlement, we'll trade them for iron products produced within our territory.

Take these iron items to the slave traders; they're mostly farm tools and everyday items. They'll have a good market in the North, so you won't have trouble selling them.

Hudson urged.

Frankly speaking, he really didn't intend to scam anyone this time. After all, you can't keep fleecing the same sheep indefinitely, otherwise, once the sheep is bald, there won't be any more to fleece.

As a mere pawn, Baron Katerley far exceeded expectations this time. He not only sabotaged Baron Ciss, but also sowed discord among the Northern Nobles.

It would be such a waste to discard such a valuable piece.

Since we needed to expand our market, we decided to use this opportunity to test the waters. It would be best if we could penetrate the northern market, but it wouldn't matter if we couldn't.

As a high-value-added product, the cost of a commodity worth 60,000 gold coins is less than 30,000 gold coins.

As long as they don't sell locally and don't compete with their own market, Hudson doesn't mind impacting the outside market at all.

"Baron Hudson, that might be a bit difficult. Unlike the Southeast Province, the iron products market in the north is practically a monopoly; foreign goods simply can't get in..."

Before Baron Katerley could finish speaking, Hudson interrupted, "Your Excellency, you're overthinking it. If we can't sell it, are we not allowed to use it ourselves?"

Even if they can't use it themselves, they can sell it to the Orc Empire; they might even make more money that way. As long as they don't sell it in the North, they can get away with it.

Besides, the slave traders are in charge of selling them. You just hand over the goods to them; what happens afterward is none of your business.

There's nothing wrong with that; whoever sells it is responsible. Even if it truly infringed on the interests of the local bullies, they wouldn't travel all the way to the Southeast Province to settle accounts with a middleman.

"But, cash has become a commodity. Will they agree to that?"

Kateley was really unsure of himself; at least for him, turning cash into a commodity was unacceptable.

"They have no say in this. Since you have no money now, they can either accept the goods as payment or wait until you have money before coming back to collect. At most, they'll beat you up to vent their anger."

Even if they secretly wish they could kill you, they'll still make sure you live well for the sake of money.

Even if one of them acts impulsively, the others will help stop them. After all, if something really happens to you, this debt will be even harder to collect.

Hudson said nonchalantly.

The saying "the debtor is the boss" applies to the Aslant Continent as well. If creditors aren't rational, it's because you don't owe them enough.

Few creditors would give up on someone like Baron Katerley, who owes more than 50,000 gold coins at a time.