Chapter 477: The Scent of Industry
Soon after, during Leopold II's coronation as King of Bohemia, the French Special Envoy publicly presented a congratulatory gift: an exquisite villa model and a set of gold-inlaid keys. This represented a luxurious property in Paris's "Starry Gardens," valued at 50,000 florins.
Since Leopold II was set to inherit a dozen or so royal titles, this particular gift stood out as the most extravagant at any single coronation ceremony.
Immediately, Austrian nobles and foreign officials who had come to offer congratulations began inquiring about "Starry Gardens." The French Special Envoy's entourage enthusiastically took on the role of promoters.
Before long, as the Habsburg crest was displayed on a villa in "Starry Gardens" and numerous wealthy German elites started inquiring about properties there, France's own affluent citizens could no longer stand by.
They then encountered the unheard-of practice of a property lottery, which only further ignited their desire to snatch up homes. A single lottery number for a purchase was quickly inflated to 5,000 francs.
Just over half a month later, all properties in "Starry Gardens" were fully reserved, and people were already starting to inquire about the second phase of the project.
Meanwhile, Joseph had already initiated a development plan for the desolate land between Paris and Versailles. This included the construction of a large number of affordable homes, intended to offset the upward pressure "Starry Gardens" placed on Paris's housing prices and ensure housing access for ordinary Parisian citizens.
...
Inside a civilian residence in Paris's Louvre District, Antoine, a salesman for the Royal French Insurance Company, spoke with a mouth like a rushing river to the couple before him: "Whether it's an attack by thugs or a fall from a carriage, as long as an injury results in disability, you'll receive substantial compensation from our 'Personal Accident Insurance.' Let me check here..."
The Evans couple exchanged glances, both visibly intrigued.
They had just decided to purchase an education insurance policy, having welcomed a son this year and were discussing his future studies. With this education policy, after paying 80 francs annually for eight years, all tuition fees for their son's schooling and university education would be covered by the insurance company, along with a monthly living allowance of 6 francs.
What pleased them most was that if their son chose not to attend university later on, the entire sum would be returned to him at age 20!
The insurance salesman then introduced them to "property insurance," "medical insurance," "pension insurance," and more, all of which were the latest policies launched by the Royal French Insurance Company.
Naturally, these were all schemes devised by Joseph.
While these types of insurance seem commonplace to people in later eras, they were absolutely novel and highly appealing at a time when only "marine insurance" and "fire insurance" existed.
However, the probability of accidents in the 18th century was considerably higher than in the 21st century. Thus, the Royal Insurance Company was currently marketing only to nobles and wealthy merchants – individuals who were willing to pay for coverage and were less prone to accidents than the general populace.
Ultimately, the Evans couple subscribed to an education policy and also purchased personal accident insurance for Mr. Evans.
Salesman Antoine immediately collected the deposit, issued a receipt, scheduled a time for the contract signing, and then promptly rushed off to his next appointment.
Recently, insurance sales had been incredibly brisk. He could sell over a dozen policies a day, earning so much commission his hand was practically cramping.
There were currently thousands of salesmen like him across France, actively fanning out to promote the company's latest insurance policies.
The Royal Insurance Company's daily incoming cash flow alone approached a massive 400,000 francs, making its capital absorption capabilities practically on par with a bank!
Concurrently, the Royal French Insurance Company had established branches in the Netherlands, Austria, Sardinia, and other regions. Besides the aforementioned standard insurance products, sales personnel were also heavily promoting something called "wealth management insurance" to clients.
Purchasers "only" needed to pay a certain annual premium to the insurance company—a minimum of 300 francs, with no upper limit. After 15 full years of payments, purchasers would receive a 3% interest payout from the insurance company every month until their death. What's more, upon reaching age 50 or at the time of death, the entire premium would be fully refunded!
People in the 21st century already knew this type of insurance was essentially a scam, but it was undeniable that without careful calculation, "wealth management insurance" felt incredibly worthwhile, purely from an intuitive perspective.
Especially for people still living in a feudal society, who greatly valued stability and security, wealth management insurance became a massive sales success in various countries. This single product alone brought in an additional two to three million francs for the Royal Insurance Company each month.
As for Britain, the Royal Insurance Company did not establish a direct branch there. Instead, it launched a new entity called "Atlantic Insurance Company," which, on the surface, had no connection to the Royal Insurance Company.
If the British dared to pursue their 'Continental Balance' strategy against France in the future, this insurance company would likely conveniently collapse, showing them the consequences.
According to Joseph's plan, by the time tax farmers were abolished and the government reclaimed tax collection rights, over 50 million francs should have been raised through the real estate and insurance sectors.
...
Southern outskirts of Paris.
In a luxurious yet understated villa in the southern outskirts of Paris, Goldsmid, led by a footman, stepped into a spacious conference hall.
A dozen or so people were already inside, gathered around an oval conference table, chatting in small groups.
Hearing someone arrive, they casually glanced at Goldsmid but paid him little mind, continuing their conversations.
Goldsmid took no offense. He was merely a minor banker, and his business primarily operated in Britain. The fact that he was even invited to this meeting was already a significant achievement, so he naturally wasn't bothered by the attitudes of the others.
At the footman's gesture, he took a seat near the end of the table, immediately noticing the "Yiju" brand mark etched into the conference table before him.
He was somewhat surprised. 'Yiju' was the latest trend in "particleboard furniture" in Paris, and it was quite expensive. A conference table of this size, he estimated, would cost close to a thousand francs.
Indeed, as the production of casein glue had not yet fully ramped up, particleboard furniture was currently selling for significantly more than solid wood furniture. However, under the appeal of features like being 'insect-proof' and 'warp-resistant,' coupled with Joseph's personal promotion, particleboard furniture had become the prevailing trend in high-end furnishings.
Goldsmid leaned down, sniffing the table's distinctive aroma, and couldn't help but marvel inwardly, 'What an enchanting scent! This must be what they call 'the scent of industry'!'
If Joseph had heard his thoughts, he would have surely, albeit awkwardly, informed him that it was actually the smell of formaldehyde, and prolonged inhalation wasn't good for one's health.
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