Chapter 299: Chapter 180: A Day in Carlo’s Life (2)

The proportion of real Dutch soldiers is absolutely less than half, and in some of the less valued armies, only the mid-to-high-level officers are Dutch, while all other mid-to-low-level officers are composed of local indigenous people.

Compared to such a Dutch colonial army, the new Lanfang Republic army has half of its members from Lanfang, a proportion far higher than that of the Dutch army.

Although these new troops are using outdated front-loading rifles, for the colony of Kalimantan, they are deemed adequate.

"Report to Andrew that there’s no need to rush in forming the Lanfang military, but a small-scale unit should be quickly assembled to prepare for subsequent colonial efforts in New Guinea. Menotti has some experience in this area; the early stages of exploration and colonization of New Guinea can be entrusted to him.

Additionally, during the formation of the Lanfang military, as many officers as possible who are favorable to Spain should be cultivated to exert more influence on this army.

I wish for this newly formed military to be aligned with Spain, which will be the key point in their army formation work." After reading through Andrew’s entire telegram, Carlo issued his orders to the guards.

"As you command, Your Majesty." The guards nodded respectfully and went to convey Carlo’s orders.

After handling the matters of the Lanfang Republic, Carlo’s entire day of governmental affairs was almost settled.

After pondering for a moment, Carlo called for Steward Loren and inquired about the current development status of the royal family’s properties.

Speaking of which, the last time Carlo had a grasp of the scale of the royal family’s property was before the economic crisis. After the crisis, Carlo instructed Steward Loren to selectively purchase outstanding bankrupt assets abroad and to develop other industries of the royal family as much as possible, and subsequently, he did not pay much attention to the royal family’s properties.

The main issue was the vastness of the royal family’s wealth—in simple terms, the amount of money owned by the royal family was incalculable, so much so that Carlo could not spend it all.

Indeed, it was that exaggerated. Based on the palace’s annual expenditures, the royal family’s assets could sustain it for at least a hundred years even without any profit.

The palace’s expenses are divided into three major parts: maintenance of the palace’s buildings, salaries of palace staff, and the annual stipends for royal family members.

As one of Europe’s three major palaces, the daily maintenance costs of the entire Madrid Royal Palace are a massive figure. Based on the current funds needed annually for maintaining the Madrid Royal Palace, Carlo’s expenditure in this respect averages nearly 1 million Pessetas per year.

But that is merely a small expense. The salaries for the hundreds of servants and maids, guards, sentries, and a whole range of positions exceed 2 million Pessetas annually.

Furthermore, there’s the matter of the annual stipends for members of the royal family. Although there are currently only three members of the royal family, each of the three receives a considerable stipend.

While Carlo was in Italy, his average annual stipend was about 260,000 Lira. At that time, Carlo thought this was already a huge amount, equivalent to nearly ten thousand Pounds, which was an astronomical figure in those days.

However, upon becoming the King of Spain, Carlo realized that this amount was far from sufficient. Additionally, as the assets of the Spanish royal family continued to expand, Carlo repeatedly increased the stipends for royal family members.

As the King of Spain, Carlo receives an annual stipend of up to 1 million Pessetas, which is the highest stipend that any member of the Spanish royal family can receive.

As Carlo’s wife, Queen Sophie receives an annual stipend of 800,000 Pessetas. This stipend can be spent at Queen Sophie’s discretion, demonstrating the extravagant lifestyle of European nobles and royals during this period.

Even though little Juan Fernando is only a two-month-old child, he still receives an annual stipend of up to 500,000 Pessetas according to the royal family members’ stipend rules.

Fortunately, the Spanish royal family numbers only three, so the annual expenditure on stipends is 2.3 million Pessetas, not even amounting to ten thousand Pounds when converted, a mere drop in the bucket compared to the royal family’s assets.

It’s not surprising that the stipends for members of the Spanish royal family are higher than those for members of the Italian royal family.

After all, the Italian royal family is a large dynasty, while the Spanish royal family is just a small branch of the Italian royal family, with numbers dictating the disparity in stipends.

Carlo needs to pay stipends only for his family, whereas Vittorio Emanuele needs to pay stipends for the large Italian royal family; the difference and expenditure between the two is worlds apart.

Fortunately, the Savoy Family has been managing the Sardinian Kingdom for a long time, and the family’s wealth is quite vast. Especially after the unification of Italy, the property of the Savoy Family was further expanded, raising the average wealth of the Italian royal family members above Europe’s lower middle class royals.

"Your Majesty." Steward Loren was waiting outside Carlo’s office. Upon hearing Carlo’s call, he promptly entered, waiting respectfully for Carlo’s orders.

"Steward Loren, tell me about the recent developments of the royal assets. How are our enterprises doing? What is the scale? What is the current value of the royal properties?" Carlo gestured to Steward Loren to sit down with a smile while posing his questions.

Steward Loren’s loyalty is unquestionable, and Carlo regards him as his absolute confidant, feeling at ease with him.

Steward Loren pulled out a thick account book and presented a detailed introduction of the Spanish royal assets to Carlo: "Your Majesty, after the outbreak of the economic crisis, we utilized over 120 million Pessetas to purchase outstanding foreign enterprises, which has yielded very good results.

Our steel mills have expanded significantly; the total production of the steel mills controlled by the royal family now accounts for nearly two-fifths of Spain’s total steel production.

Under your instructions, we have also increased investment in the experimental zones. This year, our total expenditure reached 170 million Pessetas, with over 35 million Pessetas invested into various research projects and experiments within the Royal Academy of Sciences.

According to the Royal Academy of Sciences’ research progress, some projects have the potential to achieve some progress this year, perhaps even resulting in tangible research achievements.

Regarding automobiles, the value of the automotive company and the engine company we have invested in has reached 5 million Pessetas and 3 million Pessetas respectively, with 2.2 million Pessetas and 1.7 million Pessetas allocated for research and development in the automotive and engine fields this year.

Mr. Benz reported that the car you saw last time already has a second-generation prototype, which is expected to manufacture a finished product within this year.

The stability and speed of the finished product will see improvements, and its appearance will change to some extent, all thanks to advancements in engine technology driving changes in the entire vehicle.

In electrical experiments, the Electricity Laboratory is currently exploring power storage devices. The lab has conducted deeper research into the generation and utilization of electricity, with this year’s investment in the lab’s development surpassing 3 million Pessetas—the highest-funded project in the experimental zones.

Compared to the 170 million Pessetas in expenditures, the total revenue from the royal family’s enterprises remains relatively stable. Last year, our income was about 230 million Pessetas, with a net profit of 60 million Pessetas. In the first half of this year alone, our income has already reached 133 million Pessetas, with expectations to set a new record for revenue." Steward Loren respectfully reported on various enterprises and project research invested by the royal family, along with the total income and expenditure status of the royal industries.

From the income and expenditure status of the royal enterprises, one can see that after prolonged development, the royal family’s enterprises have become leaders and giants among Spanish companies.

Especially in the military industry and heavy industries, enterprises controlled by the royal family have occupied the major share of Spain’s industry. When Carlo slightly stomps his foot, the military and heavy industries field in Spain would surely tremble.