Empire Rising: Spain

The government’s strategy of repurchasing noble land at high prices has proven effective. After enacting the law to repurchase noble land at high prices, many nobles on the verge of bankruptcy opted to sell parts of their land to the government in exchange for emergency funds.

In just over a week, the amount of land acquired from nobles by the government exceeded 2,500 acres, approximately 10 square kilometers.

These lands are actually not much, merely the combined holdings of a few minor nobles with limited assets.

Why are nobles considered the parasites of Spain? Because at their peak, the nobles, comprising only 2% of the population, controlled 95% of Spain’s arable land.

Of course, numerous clerics, merchants, and specialized professionals were also included, but such data is still extremely exaggerated.

At that time, 95% of Spain’s population were farmers, yet the land they owned constituted 5% of the nation’s total land area.

Nobles not only held vast amounts of land, but their lands were also fertile plains and valleys, leaving only barren lands for the farmers.

Although noble landholdings have significantly decreased following long development and revolutions, they still occupy 40% of the arable area.

The combined land held by nobles and the Church surpasses that held by farmers, which not only affects the development of Spanish agriculture but also forces many farmers to become tenants of these nobles and the Church.

Nobles and the Church not only collect rent from these tenants but also demand them to pay substantial agricultural taxes, including the tithe and land tax.

This is the true reason why revolutions broke out in Spain: the nobles and the Church enjoyed luxurious lifestyles at the expense of continual exploitation of farmers. When Spaniards could no longer afford to eat, they naturally sought ways to survive.

Currently, after the revolution, the percentage of land held by nobles has dropped to below 35% of total arable land, which is considered good news.

The government acquired large amounts of land from the nobles and the Church, which were then leased to farmers for cultivation at lower rents.

Farmers no longer lack land for cultivation, nor are they excessively taxed, so with a livable life, naturally, they have no other thoughts.

Actually, compared to being a landlord, venturing into industry and finance evidently holds more potential in this era. Unlike the relatively traditional landholding nobles, Carlo clearly values the modern nobility more.

The modern nobility do not possess much land; they invest their assets in industry and finance, stimulating the development of the Spanish economy.

The capital formed by the united nobles also holds considerable influence. Rather than holding onto land and offending large numbers of farmers, it’s better to be a capitalist controlled by the government and Royal Family, savoring the life of counting money until hands cramp.

As time moved into mid-May, under the supervision of the Currency Issuing Committee, the Royal United Bank and Spanish National Bank manufactured and issued the latest Pesseta currency system of the Kingdom of Spain.

The exchange rate between the Pesseta and Pounds is 26.02:1, with 1 Pesseta roughly worth 0.282 grams of gold.

The Pesseta issued by the two banks comes in two forms: one is paper currency with the bank and currency committee stamps, and the other is silver coins weighing a total of 4.23 grams.

Given the current values of gold and silver, the value of 4.23 grams of silver exactly equals 0.282 grams of gold. The silver coins made of 4.23 grams of silver are the coin version of the Pesseta and are also the most common version.

The silver coin made of 4.23 grams of silver is equivalent to 1 Pesseta, its value equal to 1 Peso during the Spanish Colonial era.

Above the 1 Pesseta coin, there is a 5 Pesseta coin made of 21.15 grams of silver and a 10 Pesseta coin made of 2.82 grams of gold.

Of course, these weights refer to the pure gold and silver weights, mixed with some other metals to make these precious metal coins more durable.

Beneath the larger denominations of the 1 Pesseta, there are sub-coins made from copper coins. One Pesseta is divided into 100 cents, with 1 copper coin equaling 1 cent. Based on different weights, copper coins are divided into 1 cent, 5 cents, 10 cents, 20 cents, and 50 cents, serving as the most common currency for everyday transactions.

This is also the hallmark of currencies during the gold standard era across countries. Generally, there are two types of currency: one made from gold, silver, and copper bearing actual value, with specific gold and silver content determining the currency’s exchange rate.

The other currency is paper money equivalent in value to the gold and silver coins. Generally, paper money issued by governments is circulated domestically, while international trade predominantly uses gold and silver coins due to their higher value and greater recognition in international transactions.

The current Spanish gold and silver coins feature engraved busts, full portraits of Carlo, and the Savoy Dynasty family crest.

Meanwhile, copper coins feature engravings of Prime Minister Prim, Duke Serrano, and other notable figures in Spanish history.

Following the issuance of the new Pesseta currency, the Spanish Government also promulgated a new law, the "Minimum Income for Workers Act."

According to this law, anyone holding Spanish nationality is considered a Spanish citizen.

When Spanish citizens engage in various work in Spain, exchanging labor for income, business owners and factory owners should adhere to the "Workers Protection Act" and "Minimum Income for Workers Act," paying Spanish citizens no less than the minimum guaranteed income.

For adult male Spanish citizens participating in work, the minimum weekly wage is 1 Pesseta 75 copper coins; for adult female Spanish citizens, it’s 1 Pesseta 15 copper coins.

For male Spanish citizens over the age of 50 participating in work, the minimum weekly wage is 1 Pesseta 10 copper coins, while for female citizens over 50, it’s 85 copper coins.

Child laborers participating in work have a minimum weekly wage of uniformly 75 copper coins, and they should enjoy at least one day off per month with daily working hours not exceeding 12 hours.

Due to differing economic developments across Spanish regions, the minimum income varies with certain fluctuations.

To prevent high-income areas from exploiting the Minimum Income Act loopholes, the government also stipulates that local adjustments should be based on actual per capita annual income conditions, allowing only increases but not decreases.

In relatively developed regions like Madrid and Barcelona, the actual minimum income still needs to increase.

Especially in Barcelona, after building industrial zones in the future, workers’ minimum income will certainly not be as simple as stipulated by law.

If any capitalists want to exploit legal loopholes to excessively squeeze the Spanish people, Carlo does not mind letting them experience what it’s like to be strung up by streetlamps.

The Royal Family’s factories and enterprises naturally follow the government’s newly enacted laws honestly. Fortunately, employee incomes in Royal enterprises are mostly above the government’s stipulated minimum, meaning the newly enacted laws hardly impact Royal enterprises.

For those capitalists who previously aggressively exploited the populace and even child labor, they must consider the government’s attitude if they wish to continue exploiting the populace.

Needless to say, the populace warmly welcomes the laws enacted by the government. These laws practically benefit the Spanish populace, ensuring they receive a minimum income when working and do not worry about excessive exploitation by capitalists.

The most noteworthy aspect of the law is the minimum wage for child labor.

The issue of child labor is one that this era, even posterity, cannot avoid addressing.

In simple terms, every country has impoverished groups: letting children work is not inherent neglect for their children but due to the family’s dire economic situation requiring minors to earn income.

Although the minimum weekly wage for child labor is only 75 copper coins, this level is already median-high among all child labor income in Spain.

Ensuring a minimum weekly wage for child labor can effectively improve their incomes and improve the living standards of families forced to let their children work.

However, once adult citizen’s incomes increase, it’s best for these children to receive education. Ultimately, only education allows one to ascend higher socio-economic strata; the notion that knowledge changes destiny is more than mere words.

Essentially, this so-called knowledge isn’t limited to textbook knowledge but any practically applicable knowledge, including various technologies and mindset.

Such a minimum income level results from thorough governmental calculations. Depending solely upon it is difficult to secure sustenance and warmth, but it ensures the vast majority enjoying minimum levels can afford meals.

As for pursuing better life, yearning for food and warmth even opulence; substantial efforts are requisite in working time and role, such as sending children to school for advanced positions, etc.

A regular worker’s salary differs from skilled workers’; skilled workers the same from technical workers.

For their family’s future quality of life, Spanish people ultimately shall choose ascension for themselves or children, seeking better jobs and wages.

If 1871 saw the Spanish government striving for industrial and economic development, come 1872 stabilized Spain formally began legal reforms exploration.

Currently, "Land Lease Act" and "Minimum Income for Workers Act" yield satisfactorily impressive results.

The former caters to vast Spanish farming masses, the latter to Spain’s emergent working populace and worker group.

Though it offended large numbers of conservatives including nobles, the good news is nobles showed minimal response.

Regarding the capitalist class power currently weak in Spain, without significant reaction from stronger nobles, Church, and radical Republican Faction, the capitalist influence couldn’t possibly impact governmental stability.