No one knew whether the pressure had become too much or whether Hudson's words had worked. The Finance Minister returned to the Royal Capital and immediately stopped, refusing to stir up any more trouble.
At first, everyone thought it was fine. They believed they had won a great political victory, but before long, none of them could laugh anymore!
The first to suffer were the various government departments. Funding for newly added projects was put on hold the moment it reached the Treasury Department.
The answer was always the same—there was no money!
Making a fuss was useless. There truly was no money in the treasury now. Even the subsidies that should have been issued to noble lords whose territories had suffered losses on the front lines could only be paid at a discount.
As the problems continued piling up, the major factions at court all realized the severity of the situation. The financial crisis had already threatened the Kingdom's rule.
"Count Francis, what has been going on with the Treasury Department lately? Why have government appropriations been blocked one after another?"
Caesar IV demanded angrily.
The Treasury Department had shown far too little respect. Even several key projects he had personally overseen had been blocked at the funding stage.
"Your Majesty, there is no money in the treasury!
"We have done our utmost to raise funds, but outsiders fear that the Kingdom will follow Moxi Duchy's path into bankruptcy. We cannot secure loans, and government bonds cannot be sold.
"Each month's fiscal revenue is divided up completely on the very first day of the month. Here is the list of projects. If anyone believes a project can be cut, please speak freely!"
Count Francis said with a shrug.
The scheme of borrowing new money to repay old debts could