First, Gather the Idle Capital

Yes, after Charles received the 12 million Franc loan, the High Court lifted the injunction against Charles-Boughton Bank.

To others, it was just a routine investigation that lasted seven or eight days. Banks in this era often engaged in irregularities, and it was normal for them to be investigated and prosecuted. But no one knew that Charles almost lost half of his fortune because of it.

Fuld gestured for everyone to be quiet and continued:

"Currently, the government has the conditions to abolish the Tax Farmer System. However, we have not completely failed!"

He glanced at the Bank of England beside him:

"Next, we will implement Mr. Gordmide's suggestion, using Taxation documents as leverage to try and secure the Salt Tax, Liquor Tax, tobacco tax, and Market Tax."

The items he mentioned are basically the most profitable taxes, while the Market Tax, although not high, makes it convenient to sell shady items in the name of the Tax Collector.

Harper immediately nodded in agreement, saying, "You're right. As long as we all work together, we can definitely get the government to take over these taxes for us."

"Therefore, we need to gather as many Taxation documents as possible at the General Association now."

He then looked at the middle-aged man with burn marks on his face beside him. "Mr. Lafayette, the Taxation documents that Charles was previously in charge of will now be handled by you."

"Yes, Mr. Hope."

Encouraged by Fuld and Harper, everyone suddenly felt that there was still potential for tax-hoarding business next year. Thus, they shook off their previous dejection and began to discuss how to allocate the limited tax-hoarding quota.

Unlike the confident Tax Farmer Magnates, thousands of other lower-level Tax Farmers in France —especially those with only tens of thousands or even thousands of dollars in capital who had to pool their resources to obtain tax-farming rights—were plunged into panic and anxiety.

Because the Tax Farmers Guild repeatedly assured them that they could reach an agreement with the government to continue the tax-paying arrangement next year, they had been holding onto their money, waiting to pay the Tax Farming Income once the agreement was finalized.

However, Charles's sudden public declaration of support for tax reform and his donation of all his Tax Farming Income to the French Government caused a huge uproar.

The actions of this General Association clearly demonstrate that the government's decision to abolish the Tax Farmer System is irreversible.

Those Tax Farmers generally have little investment experience; they simply used to put their money into Tax Farming Income accounts and collect returns every year.

Now that tax reform is suddenly announced, they are all in a panic—but no one told them that the General Association is planning to gamble with Taxation documents—this is something that even most independent Tax Farmers like Lavoisier, who have hundreds of thousands of dollars in capital, don't know about. After all, the more people know, the harder it is to keep it a secret.

With the end of the year fast approaching, and the General Association still not announcing the amount of this year's Tax Farming Income agreements, those Tax Farmers agreements have begun to look for other ways to make ends meet.

In reality, the only options left for them are buying Government Bonds, depositing money in banks, or buying land.

However, all of these options yield much lower returns than tax-inclusive income. Especially land purchases; it's difficult to find suitable plots in a short period, and after purchasing them, you have to manage and operate them yourself, otherwise you might even lose money.

Sylvie Fenot was one such Tax Farmers.

In fact, his main business is running a Glass shop, and he can only invest 7,000 Franc a year Tax Farming Income.

At that moment, he and seven or eight partners—who had pooled their money to cover a quarter of the city's business tax—were gathered in Cafe in the west of the city, discussing plans for the coming year.

"I think buying Government Bonds is the only option. I heard that Government Bonds interest rates will drop next year, so it'll be more cost-effective to buy them before the end of the year."

Someone immediately shook their head. "The interest rate on Government Bonds is too low. Unless you buy bonds with a maturity of 10 years or more, but what if you urgently need the money during that period..."

Fenot sighed, "If only I could buy into the Industrial Development Fund; I heard the return this year is 13%."

The partner next to him looked distressed. "It's a pity the Industrial Development Fund no longer accepts small subscriptions. We can't scrape together 200,000 Franc. If only we had bought some last year when subscriptions opened up, we could have bought some for 1,000 Franc."

"Those big shots at the General Association are really ruining us!" someone complained. "Last month, old Yasen asked me to invest in his Textile, but I refused because I was waiting for the tax-inclusive agreement."

Just as the group was at their wits' end, the Cafe door opened, and a middle-aged man with brown curly hair walked towards them, waving a newspaper in his hand.

"Gentlemen, have you seen the government announcement?"

"Eric, you're late," Fenot greeted him. "What announcement?"

Eric pushed aside everyone's Coffee Cup and spread the newspaper on the table. "This morning's news is that the government has created a ' Tax Reform Fund ' to compensate Tax Farmers for their losses."

He pointed to the newspaper and said, "Only those Tax Farmers can purchase it, and the amount cannot exceed the Tax Farming Income."

Fenot immediately asked the crucial question, "What about interest?"

"It's the same as a 10-year Government Bonds. And if the government's tax revenue is good next year, you can even get dividends! Oh, and this fund can be redeemed in as little as six months."

Upon hearing this, Fenot and the others' eyes lit up.

I never expected the government to be so considerate! Although the returns on this fund are far less than those of a tax-inclusive fund, it's the best investment they can find right now.

The refined-looking man next to him quickly stood up and said, "We need to hurry! You see, there's a limit; if we're late, they might all be sold out."

Upon hearing this, everyone quickly dropped off their Coffee money and hurried to the bank that managed the fund, as instructed in the newspaper.

Of course, this Tax Reform Fund was a means for Joseph to attract Tax Farmers.

He knew very well that the bigwigs in the Tax Farmers Guild only accounted for 40% of the Tax Farming Income revenue, while the remaining 60% of Tax Farmers would likely have nowhere to put their funds after the Tax Farmer System was abolished.

This fund offers higher returns than most common investment projects on the market, but still significantly lower interest rates than loans from conglomerates.

As for the claims of "only for Tax Farmers" and "limited amounts," these are merely borrowing from the "Hunger Marketing" tactic. The French Government is currently in dire need of funds, and if someone were to make a large purchase, "insiders" would naturally appear to help them get things done through back channels.

As Joseph had predicted, the Tax Reform Fund sold 37 million Franc in just 10 days after its launch.

This is only the result of sales in Paris and the surrounding provinces; as news reaches more distant provinces, the number will inevitably increase rapidly.

Just as tax reforms were in full swing in Paris, elections for provincial Parliament members in Corsica also began.

Unlike previous elections where the Restoration Faction, led by Paoli, held absolute dominance, this election saw four very powerful factions vying for the top spot.