The Right to Control One's Property

Chapter 5: The Right to Control One's Property

Socializing was expensive, too. The lives of Austrian nobles were decadent, and Franz had yet to achieve financial independence.

At present, Franz's income was extremely limited. Most of it came from his parents—or, more precisely, from the allowance his mother gave him.

Because his father took no interest in household affairs, control of the family finances had fallen into Lady Sophie's hands, and Franz had yet to receive the property held in his own name.

Of course, with his status, it would have been easy to get his hands on money. But Franz valued his good name, so he couldn't resort to grabbing it by fair means or foul.

Given the state of Europe, investing in industry wasn't a good idea, either. In a little over a year, the February Revolution would break out in France and quickly spread across the European Continent. Every country except Russia would be plagued by revolution.

Historically, Vienna had even fallen into the hands of the rebels. What if he was unlucky and they burned his factory to the ground? Where would he go to weep then?

There were plenty of highly profitable businesses, such as arms dealing, drugs, counterfeit money, and lotteries. Franz thought the ventures best suited to him were mining and salvaging treasure from shipwrecks.

After considering his options, Franz had no choice but to give up these tempting schemes for making money. The reason was simple: he was the heir to the Austrian Empire, not an ordinary capitalist.

The conservatives didn't want to see a capitalist emperor. With the Vienna Revolution about to erupt, Franz couldn't afford to lose their support.

"Franz, are you studying again? Young people should be more lively. You're far too solemn. Why not come hunting with me?"

The speaker was his father—or rather, the man who was currently his father—Archduke Franz Karl, a man of extremely unstable temperament. His greatest passion seemed to be hunting, and his second greatest was taking his sons along with him.

As a member of the Regency Council, Archduke Franz Karl was its least noticeable member. Due to a congenital defect, his intelligence was low, and politics were simply too much for him.

If not for his exalted status, the Austrian Regency Council would never have let him join.

"Father, you should go by yourself. I'm visiting Archduke Louis today, so I don't have time to hunt!" Franz hurriedly refused.

It was a lingering consequence of being so young. Although Franz acted very mature, in the eyes of many, he was still just a child.

When Archduke Franz Karl was in his right mind, he was a good father who cared deeply for him. But Franz found that kind of concern a little hard to bear.

"Mother, you know I've had quite a lot of expenses lately..."

Before Franz could finish, Lady Sophie said, "So you want to take back the property in your name, is that right?"

How could an Austrian archduke not have any estates?

Since his father and uncle were both a little short on brains, his grandfather had been delighted to find that, as the eldest son of the third generation of the royal family, Franz was of sound mind. He had promptly made him an archduke.

However, Franz's title was somewhat hollow. His fief apparently lay outside Austria's control, so he couldn't count on any income from it.

The Habsburg Family had plenty of such empty titles. Take the King of Jerusalem, for example. If Austria ever managed to reclaim Jerusalem, the title would finally live up to its name.

Having a good grandfather made all the difference. Although his title was purely honorary, as his grandfather's most beloved eldest grandson, Franz had still inherited a considerable fortune.

As far as Franz knew, it included five estates, two mines, several small workshops, and tens of thousands of Rhenish Guilders in cash.

(A Rhenish Guilder coin weighed eight grams. Its gold content depended on the mint's integrity; there was no uniform standard.)

Even by the standards of this era, it was a huge fortune. It was more than enough to cover Franz's personal expenses.

"Yes, Mother! You know I'm all grown up now and can manage my own property!" Franz answered bluntly.

European customs were different from those in the East. Parents' property and their children's property were kept strictly separate.

In Eastern society, anyone who dared make such a demand would get a sound thrashing. But in the West, Franz's request was perfectly normal.

As their children's guardians, parents could no longer manage their property once they came of age. Franz could even inspect the accounts for the estates' income and expenses.

"All right. You're entitled to it! But considering your age, I won't give up my right to supervise you for another year. You'll have to report any major expenses to me," Lady Sophie said after a moment's thought.

"No problem!" Franz replied without hesitation.

Those were minor matters. As long as he could take back control of his property, he didn't mind reporting his expenses. After all, he could spend his own money however he pleased.

"Good. Then bring your financial staff and settle the accounts with me, Franz. After deducting your expenses over the years and the management fees I charged for your estates, I'll hand over everything that remains," Lady Sophie said calmly.

Even between mother and son, accounts had to be settled clearly. That way, neither of them would let money damage their relationship. Lady Sophie had prepared for this well in advance.

"Mother, I don't think we need to settle the accounts. I trust you," Franz said ingratiatingly.

To Franz, money was a minor matter. He only needed enough to get by for now, and he had ways to earn plenty in the future. There was no need to quibble over this.

Of course, this only applied to his mother. Knowing Lady Sophie, Franz didn't believe she would cheat her own son.

"Franz, this is your right. If you give it up, don't regret it later. I'll only settle the accounts with you once," Lady Sophie said seriously.

"Of course, Mother. I know exactly what I'm doing," Franz answered without hesitation.

By the end of 1846, Franz had smoothly completed the transfer of his property. The small workshops from years ago were long gone. The industrial age had arrived, and workshop production had fallen far behind the times.

But the estates and mines were still there, and business was doing well. They currently brought in nearly ten thousand Rhenish Guilders in net income each year.

His income was high, but so were his expenses. Franz glanced at the accounts. His spending was even greater than he'd expected. The dozen or so private tutors alone cost a small fortune.

Then there were the servants, maids, guards, tailors, coachmen...

Franz covered all of these expenses himself. As for whether his parents had an obligation to support him—never mind. He had money and didn't need to live off them.

All in all, he had saved very little over the years. His total cash amounted to just over sixty thousand Rhenish Guilders, and that included the cash from his inheritance.

What a noble's way of life. He'd managed to save all that cash without investing any of it to make more money. Franz couldn't even be bothered to complain.

That was the state of the Austrian nobility. They had yet to make the transition from great nobles to the great bourgeoisie, and when it came to investments, everyone leaned toward caution.