The next morning, Arthur decided to explore the city—a task he hadn't undertaken in quite some time. Aware that much had likely changed since his last visit, he wanted to observe the transformations firsthand. After completing his usual morning exercise routine, he had a quick breakfast, changed into a set of modest, everyday clothing, and left the palace accompanied by two guards. The guards, dressed in plain attire to avoid drawing attention, followed him as they began their walk through the bustling streets of Pendralis.
As Arthur wandered through the city, the first thing that struck him was its dynamism. The medieval atmosphere that had once defined the streets was now giving way to the energy and efficiency of a modern metropolis. People hurriedly moved about, many rushing to their jobs or destinations, their pace reminiscent of the organized chaos he had read about in cities from Earth's Industrial Revolution. Steam-powered trains constantly buzzed along the city's newly built metro lines, the platforms teeming with commuters.
He noticed the tangible improvements in the quality of life among the city's residents. Compared to just a few years ago, their clothing had become more refined and varied, a clear indication of the textile industry's rapid development. Fabrics of vibrant colors and intricate patterns adorned the passersby, reflecting a newfound prosperity brought about by industrial advancements.
Arthur made his way toward the city's busiest thoroughfare—a semi-circular shopping district filled with shops, stalls, and businesses. Upon entering the bustling street, he was immediately greeted by the sight of a large crowd. The area was alive with activity, and the sheer variety of goods on display left an impression. There were shops selling colorful bolts of fabric, porcelain tea sets, and dining ware crafted from steel and silver. Some stores even specialized in mechanical watches, showcasing intricate designs and craftsmanship.
What caught his attention most, however, was how these businesses were advertising their goods. Workers stood outside the shops, handing out printed brochures to entice potential customers. The flyers featured detailed descriptions of products, complete with illustrations—a marvel made possible by the recent advancements in printing technology. Arthur mused to himself, With the steam-powered printing press and the burgeoning paper industry, it's no surprise that businesses have begun leveraging these tools so effectively for advertising.
As he continued down the street, a young boy approached him. "Sir, would you like to buy a newspaper?" the boy asked, holding out several neatly folded papers. Arthur glanced at the newspapers and was momentarily taken aback. It was remarkable to see that someone had already established a commercial newspaper, a testament to the ingenuity of entrepreneurs who had seized upon the opportunities created by cheaper paper production and advanced printing methods.
"How much?" Arthur inquired.
"One copper coin, sir," the boy replied.
Arthur handed over a coin and took a newspaper, unfolding it as he walked. The contents were as diverse as they were intriguing. Among the pages were reports on scandals involving the nobility, stories about recent crimes in the city, and even advertisements for products sold by merchants whose names he recognized from the very street he was walking on. The clever placement of these ads between articles brought a smile to his face. It seems the advertising industry has already begun to take root here, he thought.
Then his eyes landed on something unexpected: an article about the upcoming issuance of government bonds. Arthur paused mid-step, staring at the page in surprise. How is this possible? he wondered. The decision to issue these bonds was only finalized yesterday. And yet, here it is, printed and ready for the public to read. He shook his head in astonishment, marveling at the speed with which information now traveled in this modernized city. It was clear that newspapers, combined with steam-powered printing and a rapidly developing communication network, were reshaping how quickly the populace could be informed about governmental matters.
This speed of information dissemination is remarkable, he thought. If something as significant as the bond issuance can be made public within a single day, the potential for leveraging this medium for other state matters is immense.
After spending some more time exploring the city and observing its remarkable transformation, Arthur decided to return to the palace. With the newspaper still in hand, he made his way to his father's chambers. Upon entering, he found King Cedric deep in discussion with Henry, the Minister of Finance.
"Ah, Arthur!" the king greeted him warmly. "We were just talking about the government bonds."
Henry nodded in acknowledgment before providing an update. "Your Highness, the preparations will be completed within a week. The bonds, each valued at one silver coin, will be ready for sale on the stock exchange within a month."
Arthur considered the pricing. In this world, the currency system was straightforward: ten copper coins equaled one silver, and ten silver coins equaled one gold. With the average monthly income for a family being around thirty silver coins, the price of the bonds seemed reasonable and accessible.
"Yes," Arthur said thoughtfully, "the price is well set. I actually came here to share a new idea regarding the bonds."
King Cedric leaned forward, curiosity evident in his expression. "And what is that idea?" he asked.
Arthur held up the newspaper and handed it to his father. "Advertising," he said simply.
While Cedric examined the paper, Arthur began to elaborate. "I believe we should establish a new government office: a position for an official spokesperson. This spokesperson's primary responsibility would be to inform the public about our policies and initiatives through the newspapers. By doing so, we could ensure that our decisions and plans are communicated clearly and effectively to the populace. For instance, we could use this platform to promote the upcoming government bonds and increase public awareness about their benefits."
Cedric's eyes scanned the paper, noting the expertly placed advertisements nestled between articles. After a moment, he set it down and nodded in agreement. "Your idea has merit, Arthur. Creating an official channel to communicate with the public would undoubtedly strengthen the connection between the government and its citizens. I will issue the necessary orders to establish this position."
Arthur smiled. "Thank you, Father. As a first step, I suggest that the spokesperson organize a press meeting with newspaper reporters to announce the details of the bonds. This would quickly spread the information and help ensure a successful launch."
The king agreed, and the three of them spent some time discussing the finer details of the government bonds and the newly proposed spokesperson role. Once their meeting concluded, Arthur returned to his chambers, eager to unwind after a productive day. He took a long, relaxing bath and instructed his servant to bring dinner to his room. After eating, he poured himself a glass of wine and stepped onto the terrace. There, under the canopy of stars, he sipped his wine and allowed the calm of the evening to wash over him.
The next month proved to be one of the busiest periods in Arthur's life. He oversaw the acceleration of the military modernization process, ensuring that no disruptions occurred. He worked closely with William to coordinate the production of weapons and the deployment of steam-powered military and civilian ships. At the same time, he monitored the progress of infrastructure projects such as the railway expansion.
Arthur also collaborated with Henry on finalizing the details of the government bonds, dedicating significant effort to their successful launch. He worked hand in hand with the newly appointed government spokesperson, ensuring that the bond issuance remained a hot topic in the newspapers. Thanks to these efforts, major capital holders, banks, and wealthy individual investors became well-informed about the bonds during the month leading up to their release.
Finally, the much-anticipated day arrived. The government bonds were set to go on sale on the stock exchange, marking the culmination of Arthur's hard work over the past month.