The problem for Franz was that it was costly to travel, and although the life of an Austrian noble was one of extravagance, he didn’t have the freedom to spend much money. Franz’s only income was the allowance given to him by his parents–specifically, by his mother–and that was limited.
He had some property in his name, but Franz had yet to receive it. The finances of the family were under his mother’s control, a fact to which his father was indifferent.
Of course, getting money could be a mere trifle, considering his status; however, Franz cherished his reputation, so something like extortion was out of the question.
It was also not a good time to invest in industries, considering the current climate in Europe. The February Revolution was about to break out in France from where revolutions would spread quickly throughout the European continent with every nation except Russia suffering greatly. Historically, Vienna would spend time under the control of the rebels. If the rebels burned his factories down, to whom would he run and cry?
After rejecting all the businesses with quick, immoral profits, such as reselling arms, dealing drugs, making counterfeit money, and issuing lottery tickets, Franz decided that mining and salvaging sunken treasures might be suitable for him.
After some calculations, though, Franz reluctantly had to abandon both of these attractive options. The reason was simple: he was the heir to the Austrian Empire, not just any old capitalist. Conservatives would be disappointed to see a capitalist emperor, and Franz knew he needed their support, for the revolution in Vienna was right around the corner.
“Franz, are you studying again? Youngsters like you should be active, and yet you’re so dull. Why don’t you come hunting with me?”
It was his father, Archduke Franz Karl, a man with a very unstable mind. His favorite hobby seemed to be hunting; his second favorite was hunting with his sons. Among the members of Emperor Ferdinand I’s Regency Council, Archduke Franz Karl had the lowest sense of presence. Because of his congenital defects, his intelligence was insufficient for him to participate in political affairs. Had it not been for his high status, the Regency Council would not have admitted him at all.
“Father, why don’t you go on your own? I don’t have time for hunting today since I have to visit Archduke Louis,” Franz refused hastily.
That was the problem for a young man: he was always considered a child, even though he tried to appear mature in front of others.
Archduke Franz Karl was a good father and remained concerned about Franz, but this kind of concern was sometimes too much for Franz to bear.
***
“Mother, as you know, my expenses have increased somewhat…”
“So, you want your property back in your name?” Archduchess Sophie asked quickly as she was too impatient to wait for Franz to finish his sentence.
As an Archduke of Austria, how could he be without any property? As the firstborn male of the third generation, Franz had been enlisted as an Archduke by his grandfather. He had been happy to do so after Franz was confirmed to be of sound mind, since both of his sons were lacking in mental faculty.
But Franz’s title was a hollow one, and his appanage land was outside Austria’s control, with no revenue received from it.
There were many nominal dukes like Franz in the Hapsburg dynasty. In fact, the Austrian Emperors, as the successors to the Holy Roman Emperors, also possessed the title of King of Jerusalem but this title would only come in effect if Jerusalem was taken over by Austria someday.
It made a big difference to have a grandfather who pampered you: although his title was nominal, Franz still inherited a substantial inheritance. As far as Franz was aware, it included five estates, two mines, several small workshops, and tens of thousands of Austro-Hungarian guldens.
Until now, Franz had had no problem relying on his small allowance for his personal expenses.
“Yes, mother! You know I am grown enough to have free reign over my own property!” Franz replied.
That was another difference in cultural traditions between Europe and the East: the division of property between parents and their children was clearly defined. In the West, Franz’s request was perfectly reasonable, while in the East, a child would more than likely receive a good beating if they dared to ask their parents for “their property.”
When Franz reached adulthood, his parents would have to stop handling their child’s property and let him manage it himself. This meant that now, Franz could go audit each of his estates.
“Well, you are within your rights. But given your age, I will continue to supervise you during the next year, and any large expenses must be reported to me!” Archduchess Sophie answered, after considerable thought.
“Not a problem at all!” Franz did not hesitate for a second.
These limitations were just trifles, as long as he could get back the control of his own property. If he could spend his own money any way he wanted, then he could bear reporting the expenses to his mother.
“Well then, Franz, send your financial staff here to settle the matter with me. I will hand over all the property to you after we deduct your spending all these years and my management fees for it,” Archduchess Sophie said calmly.
She had been prepared for this: correct accounting meant good relationships could be maintained. To avoid damaging relationships between family members over money, she had to settle accounts with her own son.
“Mother, I believe settling is unnecessary. I trust you completely!” Franz replied, fawning over her. To Franz, money was nothing to worry about, as long as there was enough to spend, for he would have a million ways to earn plenty of money in the future.
Of course, his trust was only because she was his mother. With his knowledge of Archduchess Sophie, Franz did not think she would swindle her own son.
“Franz, I have to make it clear that this is your right. But you must be sure you won’t regret this choice, for I can only settle with you once!” Archduchess Sophie said seriously.
“Of course, Mother; I know exactly what I’m doing!” Franz replied, without hesitation.
***
By the end of the year 1846, Franz had successfully completed the transfer of property. Several of his workshops went bankrupt that year, for the workshop production rate had long lagged behind the factories in the emerging industrial age. Fortunately, the estates and the mines were still earning good profits, making Franz nearly 10,000 Austro-Hungarian guldens per year.
High income came with high expenses. Upon checking his account books, Franz was surprised to find that his personal spending was much higher than he had expected. There were, for instance the expenses for his many private tutors, not to mention the servants, maids, guards, tailors, coachmen… All these came at Franz’s own expense, and that was to say nothing of maintenance obligations. Franz decided that since he had the money, he would live on his own.
In years past, he hadn’t had much money over the years, but now, he had around 60,000 guldens all together, including the cash from the inheritance.
What an aristocratic style! For all those years, he hadn’t invested in anything to earn dividends on the cash in hand. But Franz didn’t bother to place blame.
All the Austrian nobles at that time tended to be conservative in investment, not yet having completed the transition from landed nobility to entrepreneurial bourgeoisie.
Thank you for this chapter nya! Archduke Louis is really ugly
He had been happy to do so after Franz was confirmed to be of sound mind
🤣🤣🤣 Laugh trip