NOVEL NEXT Chapter 610: Financial Reform 4
14th July 1659
Mangalore Fort Street is one of the most prosperous streets in the empire as it is the New York Times Square of Mangaluru City. The rent and prices of real estate here are at least a few dozen times more expensive than real estate anywhere else in the empire. Most of the businesses on the street are luxury apparel companies or businesses catering to the elite, so you can see a large number of rich people visiting the street every day.
In such an area, there was something special happening that got everyone's attention. People on the street, going about their duties, curiously gathered at the central location of the street, where the whole area of a hundred square meters had been blocked off.
"What is going on here? I think this is His Majesty's property. Is His Majesty building something here?"
"It should be. I enquired with the engineer; he said that His Majesty is constructing a six-story building here for something called a stock market."
"Six stories? Oh Shiva, doesn't it make it the tallest building in our city? What the hell is this stock market any way that requires such a big building?"
"Stock market, huh? Never heard of it."
"I haven't either, but I did notice that His Majesty established a new company called Mangalore Stock Exchange along with Shetty and Co Industrial Bank and Bharatiya Southern United Bank. It must have something to do with it."
"Hopefully, whatever they've established will settle here and improve our economy and livelihood."
Such conversations were happening in many places within Mangaluru, but since there wasn't much general knowledge about the stock market, the majority of the people eventually shifted the topic to a more interesting subject: the two new banks that had just been established in the northern part of the empire. However, there was someone within Mangalore who was greatly shocked by the establishment of the stock market, and it was Joseph Oppenheimer, who had come to the Bharatiya Empire a few days ago.
Ever since he set foot in the Bharatiya Empire, he was totally mesmerized by a lot of things. Whether it was the different innovations that he found in even the most minute details, like the mop found in every home, the rocking chairs, the drainage systems, the smart system of maintaining cleanliness, the excellent education system that is quite cheap, or even the world-class medical care that could be found in every city.
With his son personally acting as a tour guide, he had totally enjoyed himself. He witnessed how the Bharatiya Empire's law and order were maintained, how various business practices created an excellent commercial environment, how various business-dedicated areas made it easier for trade, how various unique products attracted a lot of attention, how large-scale manufacturing enterprises produced industrial products like never-exhausting robots, and even the University, which produced ambitious and capable members of the society filled with drive to succeed.
Sitting in a restaurant, eating breakfast and listening to his son's translation, Joseph's eyebrows were immediately raised. "His Majesty is planning to open a stock market? That is surprising," Joseph Oppenheimer said to himself as he looked at his son. "What more are they saying?"
Ezekiel Oppenheimer became quiet and intently listened to the conversation of the neighbouring diners.
"And have you seen? A large six-story building is also being constructed for this stock market. What do you think this stock market means?" a man who looked like a business elite said to his friend.
Ezekiel was a little taken aback. "Father, it looks like His Majesty is very serious about establishing a stock exchange. Apparently, a tall six-story building is being constructed in the city centre as we speak. Knowing about the construction speed of the Bharatiya Empire, I would say that the building would be completed in a few months."
"Should we go see it for ourselves?" Ezekiel asked as he wiped his mouth with a napkin and leaned back in his chair.
Joseph folded his arms, his expression thoughtful. A few seconds later, he replied, "Let's go see it. I do want to know how His Majesty wants to build the stock exchange. I am quite curious since I have never heard of the Bharatiya Empire having a stock exchange in its history."
Ezekiel nodded his head with excitement, got up from the chair, paid the bill, and excitedly left with his father in a carriage to the central Fort area of Mangaluru.
"It's just that Uncle Moshe Goldstein couldn't join us. It is a pity," Ezekiel muttered in a reluctant tone.
"Oh, forget about him!" Joseph laughed. "Ever since he saw those container ships and their loading and unloading processes with the help of the cranes at the port of Thiruvananthapuram, he has been mesmerized by those things."
"I, for myself, couldn't tell what was so useful about this new transportation method, but he has been in the trade sector all his life, so maybe he sees something different from us. It's better to leave him be; maybe he will give us a surprise." Joseph said with a chuckle.
"It can only be like this," Ezekiel nodded his head with some thought.
---
Taking a carriage Joseph and Ezekiel arrived at the central fort
Looking at the construction site, Joseph immediately understood that His Majesty definitely had some knowledge of the stock market, it was either that or someone had guided him in the formation of the stock market. Because, as far as he could see from the model of the building, the building was built as a showpiece, meant to be shown off. Each and every floor of the building had this possible slate board on its outside, making it easier for the people to read these stock prices and market sentiment.
What's more, from what he could see, the number of floors could also be used to indicate the market value of a list of listed stocks on any given day. Maybe the right would be the top gainers, and the left would be the top losers.
Stay updated with empire
Joseph stroked his chin and praised, "Impressive!" given that even the current Amsterdam Stock Exchange wasn't so grand and well thought out.
He knew this because his Oppenheimer & Co. Bank had asked the governing body of the Amsterdam Stock Exchange to allow the company to be listed. Unfortunately, they didn't want a Jewish businessman to appear on their listing publicly, so they rejected him.
Thinking about it brought some sad memories for Joseph, but that was it.
---
Going back to the house he had bought for himself more recently, he was surprised to find that there were a few guards dressed in saffron clothes with golden accents standing at his door. He immediately did not recognize them, but Ezekiel, who was next to him, widened his mouth in disbelief.
"It's the royal guards, Father. It is the personal force of His Majesty Vijay Devaraya."
Joseph was immediately shocked. He then looked at the guards with a serious expression on his face.
"What can I do for you, gentlemen?" he asked them in a respectful tone, the same tone he would use to talk with the nobles back home. Unfortunately, the guards couldn't understand Germanic, so he tried the more popular French, and that did not work either. Thankfully, Ezekiel helped his father out by translating it into Bharati.
The guards quickly took out a book, in which was a rough outline of a person. The guard who looked like a captain looked at the illustration and then at Joseph and Ezekiel. He did it a few times and finally closed the book. "We are looking for a person called Joseph Oppenheimer. Excuse me, sirs, are either of you called Joseph Oppenheimer?"
Ezekiel quickly pointed towards his dad. "It's my father. He is called Joseph Oppenheimer."
Joseph did not know why his son was pointing towards him, but seeing as how the royal guards were staring at him, he cordially nodded his head.
The guard captain looked at Joseph with a scrutinizing gaze, then at Ezekiel. "I am very sorry, sir, but we have been tasked with escorting the person called Joseph Oppenheimer personally to His Majesty. So, if you could provide a form of identification, we can leave immediately."
Ezekiel nodded his head and relayed the message to his father. Joseph was confused as to why His Majesty would directly contact him since he had always thought that he would have to contact His Majesty himself, but he was just taking his time learning more about the empire before doing so. In the meantime, he took out a temporary Bharatiya citizen identity card from his pocket.
The guard captain, finally confirming the identities, saluted with a respectful attitude and escorted the father and son to the Royal Palace in Bengaluru.
The travel wasn't long; it was only half a day, and as the travel was done through a Raya Mobility luxury carriage, Joseph and Ezekiel did not find the ride too uncomfortable.
---
Ezekiel was immediately asked to stay outside, and only Joseph was allowed to enter.
"Nice to finally meet you, Mr. Joseph Oppenheimer. I know you have a lot of questions for me, but first, please read this document," Vijay said as soon as he met Joseph.
He handed over a thick file of documents.
Joseph was at first confused as to what was happening, but as he opened the file and read it, since it was in French, the expression on his face changed several times.
His emotions changed along with the pages—sometimes happy, sometimes sad, sometimes angry—all of this because the file contained everything the Bharatiya Empire had done: taking advantage of the civil war in the Safavid Empire, finding two pawns to represent it, making them win battles, establishing a few kingdoms, and then plans for future expansion.
"Your Majesty, this?"
To be continued...