Chapter 583 Business Insurance

Chapter 583 – Commercial Insurance
“Oh, you are not aware of that. In the past, how hard it was for those who ran factories to recruit workers, generally speaking, the factory owners were all townspeople, and their workshops would be near the towns, but in the past, those who lived in the towns had their own livelihoods of raising their own families, and didn’t have much willingness to go into the factories to do their work, and when they went to the countryside to recruit, they couldn’t recruit many people because of all the various obstructions from the local snakes. Now it’s better, heh heh.”

Said here, Glitter face has a color, “I also recently found a few countryside young man to play hands, feel really good, countryside people good ah, obedient, hardworking, let do what do, won’t haggle, receive half of the wages, do two people share of the work, not like the city people that kind of tricky.”

Although he did not agree with the last words of his friend, Stanford did not intend to argue with him. Based on the information in this conversation, it seems that the political status of the landowners in the countryside will be the same as that of the ordinary peasants in the future.

But was Count Greiman really not worried about the consequences of his radical measures? He knew that his army was full of young officers from landowning families. Thinking of this, Stamford inexplicably remembered a young man on his ship, a weapons manager assigned to the exploration team by the Navy, during the long sea journey, he had talked with the young man a few times, and listened to the other party complaining about one thing – in recent years, the army’s promotion is somewhat biased in favor of those who are from ordinary families, and this young man, who is from a family that has a good reputation in his hometown, is a young man from a family that has a good reputation in his hometown. The young man, who came from a prestigious squire family in his hometown, after feeling that there was no hope of promotion by virtue of his simmering seniority, he decisively signed up for an overseas exploration team in the hope of earning a share of the credit, and that was why he was stationed beside the Stanford.

Perhaps Earl Graiman was prepared for this? Stanford was also a little unsure.

Just like that, Stanford and his best friend Glitter chatted the whole way, entered Lakeheart Town together, and then parted ways in the city center. At this time, the downtown of Lakewood Town had moved to the center of the new city on the south shore of Lake Wise. Glitter went off to his business, while Stanford continued on to the lord’s mansion to meet with Count Gleeman.
—
“Our new policy in the countryside is not being met with resistance in action.”

In Paul’s office, where several key members of the Council of State stayed, a small meeting was in progress, and Hansel, the head of the Ministry of Agriculture, was updating Paul on the situation.

“But the people whose interests have been touched by the new policy – those squire landowners – are certainly resentful, and I have communicated with some of them.”

Hansel said with some concern, “Many people say on their lips that they will faithfully comply with the orders of Lakewood Township, but the grievances and even indignation that …… are revealed in their words and in their tone of voice cannot be hidden.”

“Aggrieved?” Hearing Hansel say that, Paul raised his eyes, “Well, it makes sense that one would think that. If the king finished off Giles now and then stripped me of my knighthood in the process, I would feel aggrieved as well.”

“But!” He said in a firm tone, “I do not intend to retract my order.”

Paul rose from his own chair and came out into the middle of the room, where he paced slowly for a moment, as if in thought.

“I will compensate them in another way; I will give them tax relief and even subsidies if they are willing to invest their wealth in new industries-open factories and commerce.”

“Oh, I think that is mere wishful thinking on your part.” Hansel shook his head, pessimistic about Paul’s words. “In the old days, all they had to do was lie at home, and the silver coins flowed automatically into their pockets; the land was a never-ending wealth producer, a sure thing either way, a drought or a flood, so to speak – the losses were borne by the tenants anyway, a little more rent in the good years, a little less in the bad ones A little rent, it’s just a matter of how much.”

“But what if it’s going into business? Doing business requires costs, especially for those landowners who are used to a comfortable country life, production sites, experienced workers, supply and marketing channels, they have to start from scratch to find out, in this case who can guarantee that they will not lose money? What’s more, the market is too fast, even if it is immersed in which many years of experienced people a careless will be lost to the bottom of the sky, want to earn wealth, you need to pay a lot of energy to summarize and study the laws of the market, and summed up the law in the encounter of some special situation is not necessarily useful. Therefore, compared with the new industry where one must exhaust oneself and bear great risks, I think those squires still prefer the idyllic pastoralism of the past.” “Alas!” Listening to Hansel’s analysis, Paul let out a long sigh of helplessness. The inertia of tradition was too great, and most people were also accustomed to choosing what they could foresee.

“Ah!” He suddenly stomped his foot with great force, and his previously furrowed brow stretched, “A good idea has suddenly occurred to me.”

Not waiting to be questioned, Paul couldn’t wait to introduce his new idea.

“I’m going to have the bank start a new kind of business – commercial insurance?”

Commercial insurance? The crowd who heard this word for the first time looked at Paul suspiciously.

“Yes, business insurance.” Paul explained, “In a nutshell, it means that you pay a small sum of money to the bank for a …… insurance policy before you do business, and if your business doesn’t lose money then that small sum of money is earned by the bank, but if your business loses money then the bank pays you a sum of money as compensation for the loss of your business. ”

Paul didn’t know much about insurance before he crossed over, he just explained this new thing as he understood it.

“That’s a novel idea.” Old Ford, the chief of the Council of State, said, “It will reduce the fear of businessmen of losing money. But …… won’t the bank lose money if this goes on, and where will we get that kind of money.”

“Oh, my Lord Chief Steward.” Paul explained to Old Ford and the others, “Let me give you an example, if I offer an insurance policy for 10 silver guilders, and the person who buys my insurance gets 20 silver guilders in case of an accident, and now there are 10 people who have bought my insurance policy, and I receive 100 silver guilders, and 2 out of the 10 insured lose money in their business, and the other 8 don’t lose any money. So I only need to pay those two people 40 silver guilders, leaving 60 in my hands, isn’t that a profit? And the 60 silver guilders can be taken out and invested elsewhere to earn more money, and if nothing happens to them, they will just stay in the vault and rust.”

Old Ford asked, “But what if all 10 lose money?”

Paul exclaimed exaggeratedly, “Oh my God! It’s not really possible to get into that extreme situation, is it? Besides we can make …… by careful design,” then he suddenly waved his hand again, “Forget it, that would defeat my original purpose.”

There was a discussion about Paul’s idea of starting an insurance business, and in the end it was decided that it would be a good stimulus to embolden people to invest in new industries.

(End of chapter)

Chapter 583 – Commercial Insurance
“Oh, you are not aware of that. In the past, how hard it was for those who ran factories to recruit workers, generally speaking, the factory owners were all townspeople, and their workshops would be near the towns, but in the past, those who lived in the towns had their own livelihoods of raising their own families, and didn’t have much willingness to go into the factories to do their work, and when they went to the countryside to recruit, they couldn’t recruit many people because of all the various obstructions from the local snakes. Now it’s better, heh heh.”

Said here, Glitter face has a color, “I also recently found a few countryside young man to play hands, feel really good, countryside people good ah, obedient, hardworking, let do what do, won’t haggle, receive half of the wages, do two people share of the work, not like the city people that kind of tricky.”

Although he did not agree with the last words of his friend, Stanford did not intend to argue with him. Based on the information in this conversation, it seems that the political status of the landowners in the countryside will be the same as that of the ordinary peasants in the future.

But was Count Greiman really not worried about the consequences of his radical measures? He knew that his army was full of young officers from landowning families. Thinking of this, Stamford inexplicably remembered a young man on his ship, a weapons manager assigned to the exploration team by the Navy, during the long sea journey, he had talked with the young man a few times, and listened to the other party complaining about one thing – in recent years, the army’s promotion is somewhat biased in favor of those who are from ordinary families, and this young man, who is from a family that has a good reputation in his hometown, is a young man from a family that has a good reputation in his hometown. The young man, who came from a prestigious squire family in his hometown, after feeling that there was no hope of promotion by virtue of his simmering seniority, he decisively signed up for an overseas exploration team in the hope of earning a share of the credit, and that was why he was stationed beside the Stanford.

Perhaps Earl Graiman was prepared for this? Stanford was also a little unsure.

Just like that, Stanford and his best friend Glitter chatted the whole way, entered Lakeheart Town together, and then parted ways in the city center. At this time, the downtown of Lakewood Town had moved to the center of the new city on the south shore of Lake Wise. Glitter went off to his business, while Stanford continued on to the lord’s mansion to meet with Count Gleeman.
—
“Our new policy in the countryside is not being met with resistance in action.”

In Paul’s office, where several key members of the Council of State stayed, a small meeting was in progress, and Hansel, the head of the Ministry of Agriculture, was updating Paul on the situation.

“But the people whose interests have been touched by the new policy – those squire landowners – are certainly resentful, and I have communicated with some of them.”

Hansel said with some concern, “Many people say on their lips that they will faithfully comply with the orders of Lakewood Township, but the grievances and even indignation that …… are revealed in their words and in their tone of voice cannot be hidden.”

“Aggrieved?” Hearing Hansel say that, Paul raised his eyes, “Well, it makes sense that one would think that. If the king finished off Giles now and then stripped me of my knighthood in the process, I would feel aggrieved as well.”

“But!” He said in a firm tone, “I do not intend to retract my order.”

Paul rose from his own chair and came out into the middle of the room, where he paced slowly for a moment, as if in thought.

“I will compensate them in another way; I will give them tax relief and even subsidies if they are willing to invest their wealth in new industries-open factories and commerce.”

“Oh, I think that is mere wishful thinking on your part.” Hansel shook his head, pessimistic about Paul’s words. “In the old days, all they had to do was lie at home, and the silver coins flowed automatically into their pockets; the land was a never-ending wealth producer, a sure thing either way, a drought or a flood, so to speak – the losses were borne by the tenants anyway, a little more rent in the good years, a little less in the bad ones A little rent, it’s just a matter of how much.”

“But what if it’s going into business? Doing business requires costs, especially for those landowners who are used to a comfortable country life, production sites, experienced workers, supply and marketing channels, they have to start from scratch to find out, in this case who can guarantee that they will not lose money? What’s more, the market is too fast, even if it is immersed in which many years of experienced people a careless will be lost to the bottom of the sky, want to earn wealth, you need to pay a lot of energy to summarize and study the laws of the market, and summed up the law in the encounter of some special situation is not necessarily useful. Therefore, compared with the new industry where one must exhaust oneself and bear great risks, I think those squires still prefer the idyllic pastoralism of the past.” “Alas!” Listening to Hansel’s analysis, Paul let out a long sigh of helplessness. The inertia of tradition was too great, and most people were also accustomed to choosing what they could foresee.

“Ah!” He suddenly stomped his foot with great force, and his previously furrowed brow stretched, “A good idea has suddenly occurred to me.”

Not waiting to be questioned, Paul couldn’t wait to introduce his new idea.

“I’m going to have the bank start a new kind of business – commercial insurance?”

Commercial insurance? The crowd who heard this word for the first time looked at Paul suspiciously.

“Yes, business insurance.” Paul explained, “In a nutshell, it means that you pay a small sum of money to the bank for a …… insurance policy before you do business, and if your business doesn’t lose money then that small sum of money is earned by the bank, but if your business loses money then the bank pays you a sum of money as compensation for the loss of your business. ”

Paul didn’t know much about insurance before he crossed over, he just explained this new thing as he understood it.

“That’s a novel idea.” Old Ford, the chief of the Council of State, said, “It will reduce the fear of businessmen of losing money. But …… won’t the bank lose money if this goes on, and where will we get that kind of money.”

“Oh, my Lord Chief Steward.” Paul explained to Old Ford and the others, “Let me give you an example, if I offer an insurance policy for 10 silver guilders, and the person who buys my insurance gets 20 silver guilders in case of an accident, and now there are 10 people who have bought my insurance policy, and I receive 100 silver guilders, and 2 out of the 10 insured lose money in their business, and the other 8 don’t lose any money. So I only need to pay those two people 40 silver guilders, leaving 60 in my hands, isn’t that a profit? And the 60 silver guilders can be taken out and invested elsewhere to earn more money, and if nothing happens to them, they will just stay in the vault and rust.”

Old Ford asked, “But what if all 10 lose money?”

Paul exclaimed exaggeratedly, “Oh my God! It’s not really possible to get into that extreme situation, is it? Besides we can make …… by careful design,” then he suddenly waved his hand again, “Forget it, that would defeat my original purpose.”

There was a discussion about Paul’s idea of starting an insurance business, and in the end it was decided that it would be a good stimulus to embolden people to invest in new industries.

(End of chapter)