Early the next morning, Isaac stepped out of his room. After breakfast, he made his way to the reception hall.
John was seated in the main chair, handling affairs. William sat nearby, bored and idly listening.
Isaac sat down, quietly waiting.
Ever since the Marquis of Gian fell gravely ill, John had taken over the governance of Montferrat. While he might not be fully at ease with it, he was at least quite experienced.
After a while, John saw off the last petitioner and signed the final decree. He stood, rubbing his sore eyes.
"My dear cousin, apologies for not having time to show you around. This afternoon, I'll be sure to let William take you for a tour of Montferrat city."
"No worries, dear cousin. I've come with a request for your help."
"Oh? What is it? If it's within our power, we'll certainly assist."
John straightened up.
"I plan to establish a chamber of commerce registered in Genoa. I'd like to ask for your help in leveraging your influence in Northern Italy to connect me with the right people."
"A chamber of commerce? Why not set it up in Constantinople?"
John was a bit puzzled.
Isaac explained in detail.
Currently, Genoa and Venice were the two most influential commercial republics, dominating more than half of Mediterranean trade. Trade routes brought more than just money—they carried slaves, populations, talents, cultures, technologies...
Just like modern financial centers, a registered chamber in one of these merchant republics offered many advantages—advanced ships, qualified sailors, stable currency, abundant goods, colonial ports scattered across the Mediterranean, and powerful naval protection.
That's why nobles from various kingdoms were lining up to register their companies in Northern Italy.
Naturally, merchant republics welcomed this. The merchants had to buy ships from them, hire their people, and pay their taxes.
More importantly, these city-states could extend their monetary system into other countries. Every ducat spent meant paying stamp tax to Venice.
Wealth and talent would gradually flow into these merchant cities.
This is exactly how countless future trade and financial powers rose to dominance.
The real challenge lay within the merchant republics—they were notoriously xenophobic. Either you joined them or risked being raided by pirates.
This was why Isaac hoped to work with Montferrat.
This was his second major plan—and crucial to the success of his ultimate goal.
"My idea is this: our chamber of commerce will focus on three areas—grain, books, and slaves. I can produce the books myself, while grain and slaves are abundant along the Black Sea. By leveraging Constantinople's link to the Black Sea, we could generate good profit."
Isaac paused and looked at the two brothers.
William seemed indifferent, while John fell into deep thought.
Grain and slaves aside, books were a guaranteed profit. Besides, Montferrat could also earn a cut.
In any case, it was worth a try.
"Cousin Isaac, I don't think you need to bring in grain from the Black Sea. Montferrat can provide it. And since you already have a naval fleet, we could try shipping cheap Northern Italian grain to North Africa and sell it to the infidels at high prices."
"Also, I can invite a few noble acquaintances to invest. Your book business has low cost and high returns—someone is bound to be interested."
"With the Pope backing you, you won't have to worry about public scrutiny."
"As for the Black Sea slave trade—stay out of that. It's a Genoese taboo."
"Rather than letting other booksellers profit, why not do it ourselves?"
John's suggestions opened up Isaac's thinking.
He unrolled a map and marked four key locations:
Rome — Genoa — Tunis — Athens
The fleet would depart from Rome with books to sell in Northern Italy — that's step one.
Northern Italy's grain would be loaded in Genoa and shipped to North Africa (Tunis) for profit — step two.
The large profits would then go to Athens to purchase slaves — leaving the upstream Black Sea trade to slave traders.
Then the fleet would sail along the Adriatic coast, selling slaves en route — step three.
Finally, they would return to Rome with substantial profits.
With a few strokes, he outlined a mature trade route.
Of course, it would need to adapt to real-world situations.
For example, if peace returned to Black Sea states and slave prices rose too much, they could skip that leg and return directly from North Africa.
If implemented, this trade route would be a goldmine.
Over the following days, John ran all around Piedmont with Isaac and his proposal.
Many nobles showed interest.
Finally, those willing to invest gathered at the Bailleul Castle of Montferrat.
Isaac introduced the main business focus of his chamber.
Then he brought out a few finely printed books and the Pope's edict.
The skeptical nobles quickly became believers.
They raised practical questions, which Isaac answered one by one.
John strongly endorsed him.
"Henry, you're a second son. You won't inherit land. Shouldn't you prepare now while your parents are still around?"
"Carl, your grain output is impressive, but don't you know how much Savoie and Milan merchants suppress your prices?"
"Leon, haven't you always complained we have no navy and must hire fleets for every venture? Isn't this the chance you've been waiting for?"
The nobles exchanged glances.
Finally, the elder Count Carl stood up.
"John, we trust your character. But..."
He looked at Isaac.
"Will this Byzantine prince waste our investments on war with the Ottomans?"
Isaac rose calmly.
"I guarantee the chamber will not be dragged into war. Your rightful shares will not be touched. We can establish a headquarters in Montferrat to oversee funds."
Then he smirked.
"As for my own dividends and profits—that's none of your concern. Even if I waste it all in Constantinople, that's my problem!"
Everyone stared at Isaac.
Carl slowly said, "Then let's sign."
According to the agreement, the Montferrat Trading Company would be registered in Genoa, pay taxes, and enjoy Genoa's trade protections. The Northern Italian nobles would use their influence to ensure registration success.
Isaac contributed all his gold—2,300 ducats—and pledged to increase his investment to 15,000 within a year.
John invested 5,000 ducats.
Thirty other nobles jointly subscribed 20,000 ducats.
Isaac's fleet was counted as part of the company's assets.
With warehouses, transport, and other bits added in, the final shares stood:
Isaac: 51%
John: 15%
Bailleul family (total): 66%
The council agreed to establish a board in Montferrat. Isaac urgently summoned Steward André to oversee it after finishing the printing press setup in Rome.
Affairs in Rome would be left to his assistants.
Throughout February, Isaac and John were busy day and night.
On the last day of February, Steward André finally arrived, bringing 6,000 ducats from a month's sales of printed indulgences.
He also brought news from Byzantium.
Constantinople? Still a mess, endlessly bickering.
Athens? The Florentine Duke of Athens reached a deal with Constantine—paid a 20,000-ducat tribute and accepted stationed troops to retain his title.
The Corinth Wall was being reinforced. With advice from Italian artillery engineer Martinez, Thomas added anti-cannon modifications.
The first batch of northern refugees had settled and were preparing for spring planting.
Ibrahim's aggressive raiding triggered Epirus's wrath—they raised a large army to hunt him down.
But in the Middle Ages, such movements couldn't be kept secret.
Captain Kerman got wind of it and warned Ibrahim, who fled with his raiders—leaving Epirus troops dumbfounded.
"Well done," Isaac said, satisfied by young Lothair's report.
Lothair, André's teenage son, was full of energy, loyal, and eager to learn.
Since André would be managing the Montferrat company long-term, he asked Lothair to stay and assist Isaac.
Using the nobles' initial capital and André's funds, Isaac prepared to expand his fleet.
This time, the ships would be bought under the company's name.
With the nobles' help, Isaac and William traveled to Corsica—then a Genoese colony.
Ajaccio was Corsica's largest port, though locals lived primitively. Genoa had little interest in bringing prosperity to its colonies.
Arable land was scarce. Most locals lived by fishing and hunting—fierce and rugged.
The island had many private shipyards built by Genoese and Pisan nobles—taking advantage of cheap labor and abundant timber.
Isaac soon realized he had overpaid on his previous galley purchases.
Here, a medium-sized oared sailing galley cost under 1,000 ducats—fully equipped with cannons and sailors, just 2,500 ducats.
Cargo ships and small cogs were even cheaper.
After discussing with William, Isaac decided to order:
4 medium oared sailing galleys (each with 80 sailors, 10 cannons)
15 commercial transport ships (no cannons, just a small ballista at bow and stern)
After haggling, they sealed the deal at 15,000 ducats, with delivery next month.
Knight Roland, thrilled by the big order, invited them to tour the shipyard.
"Sir Roland, are there only small ships in your master's yard?" Isaac asked as they walked.
"I don't mean to hide it, Prince Isaac," Roland said awkwardly. "Large warships are strategic weapons everywhere. The governor turns a blind eye to small ships, but strictly forbids private construction of big ones."
"You're lying! Last year, the Count of Anjou bought a carrack from you!"
William exposed him loudly.
Roland stuck to his denial. "If you want one, you'd have to go through official channels."
As if we'd come here if we could afford the official ones!
"But aren't you trading in the Mediterranean? You don't really need ocean-going vessels, do you?" Roland asked, puzzled.
Isaac smiled but said nothing more.
That night, the shipyard owner invited them for dinner.
"Welcome, dear friends!"
"I am Niccolò Snopia. It's a pleasure to have you here!"
Isaac's eyes twitched.
Snopia—one of Genoa's elite noble families.
The chubby merchant feigned warmth, squinting eyes hiding his true thoughts.
"Your shipyard left quite an impression, dear sir. I hope we can work together again," Isaac said, stepping forward.
Though they had never met, they spoke like old friends.
As the evening wore on and wine flowed, Isaac helped a drunken Niccolò back to his room.
Niccolò was clearly drunk, bragging all the way.
"Our family... powerful! We even have people in the navy…"
"We could... get some ships decommissioned early…"
Isaac grinned, and softly asked in his ear,
"Dear Mr. Snopia, how are those old ships dealt with?"
"We... decide ourselves…"
"The governor... can't interfere…"
A moment later, Niccolò "sobers up."
Regretful over his drunken slip, he begged Isaac to forget what he said.
"Sir, if those ships are decommissioned, why not sell them to me? I'll use them to strike down infidel fleets and spread the Gospel!"
"For God? But…"
"Sir, even the Pope would bless such a noble cause!"
"Well… it might be against the rules…"
"8,000 ducats."
"Deal!"