Chapter 74: Laboratory Construction and Banking Plans
That the industrial department was able to fulfill its development plan came as no surprise to Arthur. After all, Australia's industrial strategy had begun with foundational industries, and given the presence of industrial equipment and a sufficient workforce, a rapid increase in steel production was inevitable in a resource-rich country like Australia.
"Well done, but more effort is still needed. Both industrial development and infrastructure projects require large quantities of steel. When we launch our railway construction initiative in the future, we'll need even more. With the support of Britain and Germany, I hope our steel output will soon reach a truly satisfactory level," Arthur instructed.
Steel production was one of the key indicators of a country's industrial strength, and also a crucial material for national development and construction.
Therefore, Australia could not afford to be content with just meeting its goals—it needed to look ahead and prepare for future demand.
"Yes, Your Highness!" Minister Pierre replied solemnly.
With Pierre's report concluded, the cabinet's year-end summary meeting drew to a close.
Although the Foreign Affairs, Treasury, and Defense ministries hadn't presented reports, their operations had seen little change and didn't require detailed briefings.
Arthur let out a breath of relief and smiled. "All in all, every department performed admirably last year. Though most of you have only held your posts for half a year, you've already made strong progress with your development plans. I hope that in the new year, we all continue working hard toward the great goal of Australia's rise!"
With the cabinet meeting adjourned, Arthur was finally able to enjoy a few days of rest.
However, to his bemusement, the very next day, Benz and Diesel came to visit together, requesting immediate support to begin construction on their research labs and factories.
February 1, at the estate.
Arthur was listening to Steward Hunter's report on royal assets when a guard arrived to announce the arrival of Benz and Diesel.
Arthur chuckled but quickly ordered the guards to escort the two distinguished guests inside.
Upon entering, they greeted Arthur and Steward Hunter politely, then eagerly asked, "Your Highness, when can construction on the labs and factories begin? The workers are already getting restless."
It wasn't the workers who were impatient—it was the two inventors themselves.
To scientific minds, any time not spent on research was a waste of life.
"Draft your plans first. The lab's construction requirements will have to come from you. Once you have your designs ready, we can begin building anytime," Arthur replied with a smile.
"We have them ready, Your Highness."
Hearing this, they immediately handed over a set of documents. "Over the past two days, we've been discussing the detailed construction plans and requirements for the labs and factories. Everything is in this document. It includes the automobile lab, engine lab, as well as facilities for both the car and engine factories. We've also integrated all existing engine research data. In the future, Benz & Cie. won't need its own engine lab—the work will be shifted to Mr. Diesel."
Arthur hadn't expected them to be so thoroughly prepared—or this eager to begin.
"Since you already have your plans, then the lab and factory construction can start immediately. Steward Hunter is in charge of royal finances—any financial matters can be directed to him," Arthur said.
There was no downside to getting started early, so Arthur naturally supported their request.
"Including research funding, I'll allocate £2 million to each of you. Since we're building laboratories, we'll be using the best equipment available. If there are any problems, speak to me or Steward Hunter directly. My only condition is this: I want to see results as soon as possible," Arthur said with a smile.
"No problem, Your Highness!" both men replied enthusiastically.
Even when funding had been tight, both had achieved outstanding success in their respective fields. Now, with ample resources and the ability to collaborate, they could achieve even more.
Arthur's demand wasn't just possible—it was necessary.
After sending the two men off, Arthur turned back to Steward Hunter and asked with a smile, "Now, let's continue. What is the current state of the royal treasury and assets?"
Steward Hunter respectfully responded, "Your Highness, in terms of assets, we currently have two small steel plants each with an annual capacity of 3,000 tons, one munitions factory, and one shipyard. Our new vineyard estate is also nearly ready for production. Financially, we have £150 million in loans to the Australian government and £130 million in available funds. Altogether, the royal estate is now valued at over £300 million. After deducting the £30 million owed to the Bank of London, our net assets stand at approximately £280 million."
Arthur nodded in satisfaction.
Even after loaning £100 million interest-free to the government, he still retained over £130 million in liquid capital.
That was a vast sum—enough to build a navy that could rank among the world's top three.
"Steward Hunter, begin preparations to establish a national bank. It's time for Australia to have its own financial institution. I intend to use this bank to offer low-interest loans nationwide. With this massive injection of capital, I believe we'll see a new wave of economic growth," Arthur said after a moment of thought.
"Yes, Your Highness," Steward Hunter replied with a nod.
Every sector in Australia was still in early development, which meant vast opportunities awaited.
But the truth was that most Australians were part of a low-income population compared to European countries.
Being able to support their families was already an achievement—saving extra money to pursue dreams was almost impossible.
In this context, if Arthur could establish a trustworthy national bank and offer accessible loans across the country, it would give countless people the opportunity to seize their moment and rise.
Such a plan would greatly accelerate development across all sectors—a win for both Australia and its people.
The only challenge would be loan repayment, but for Arthur, as the ruler of the land, it wasn't a real concern.
With the people's loyalty and moral legitimacy on his side, few would dare default on their debts. And if anyone did, Arthur had no problem reminding them exactly how steel was forged.
(End of Chapter)
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