-Who had the brilliant idea of lowering the taxes and then doing it without consulting me?!? Lentz was furious. Do you have any idea how much it cost us?
-Prime minister... it is an election year and with the war with Sweden over and new subject who pay taxes we thought it a good idea to ensure our reelection. We did not anticipate the economy to take such a hit from. The minister of the treasury was quiet. We can raise them again if you should so desire.
-No, it is too late now. We take too big a hit in the elections, but something needs to be done. We need the income. Give me suggestions. How can we increase our income to the same levels as before? The PM sighed deeply.
-Well, we have several ideas. We have been working on them for some time, but it will take a lot of time to implement them and it will be costly.
-Unfortunately I fail to see an alternative. It is not good though. We need to be on our guard and I do not see where we can divert finances from.
-Well, first of all we must reduce military spendings. The current level will not be sustainable for long, the minister ventured.
-I know, but I do not trust Sweden. I have no desire for any new conflicts with them, but how to make them see it. Well, that's a matter for the foreign ministry. Let me hear your ideas, Lord Treasurer. The PM seemed older than his 55 years as he slumbed down in a chair.
-Yes, Prime Minister. We have a few different ideas for you. First of all there is Reykjavik. We did some massive investment there some years ago. It has not paid off yet, but if we increase our whaling and fishing fleet it should develop into a massive trade center. It is very well situated for dominating the trade as England is too far away and with the recent events in Scotland and Ireland there will be little competition from there. We suggest subsidizing some merchants to encourage them to build more vessels. We will be able to supply not only ourselves, but most of Europe and with the facilities already in place we can center that trade on Iceland.
-Lentz nodded thoughtfully. Yes, that might work, but it will still cost.
-True my lord, but we have already made most of the investments. We estimate that we can do it for around one million. Assuming we can convince the merchants though.
-Very well. What are your other ideas? Lentz took a sip of his coffee which a servant had just brought.
-Well, as you know we have vast tracts of land in Jutland that is not used. We recommend building up industries there. There are mostly farmers in the area and they are complaining about falling prices, mainly for sheep. We can still export some, but the wool from them goes unused. If we build up a bunch of textile mills there we can sell the cloth and still use the meat locally. It should give more profits and also increase the population in the area.
-But how will we get it shipped? Copenhagen is far away from there.
-We recommend establishing a new town. It will be on the west coast and thus close to England, the low countries and France. It will be faster than shipping from Copenhagen.
-Lentz sat silent, deep in thoughts. But how will we get it to the port? he asked.
-My lord, we could build one of those new railroads. Then we would quickly and easily get it there.
-By God, it could work. I think you are on to something. Lentz looked pleased for once. What else do you propose?
-Colonies my lord. If we could aquire some land in the Caribbean and some in Africa, then we could produce our own sugar and even rum. There are many uninhabited islands in the area. While nominally French they do not use them. And in Africa we already have an agreement with the Portuguese following the Zulu affair.
-Hmm. The idea has merit. It will depend on the French though. I'll need to take contact to them. Anything else?
-Yes, the Far East. If we were to form a trading company and gain some land in India or China we could get massive trade from the area. Even just leasing a port should work.
-It will take time. Lentz sat quiet in though. Very well then. You focus on Iceland and this new city/industry idea of yours. I'll contact the French and the Portuguese.
-Yes, my Lord.
Lentz got up and went back to his office. One meeting handled, but he still needed to meet with the admiralty and the Foreign department. He did feel more optimistic than he had in weeks though.