The Eagle of Eastern Europe

As for why Bulgaria has such a small population, the main reason is due to the melee between Serbia, Ottoman and large and small lords. There are up to 3 million people in the entire Balkans. Northern Bulgaria accounts for one sixth, which is still the best result.

To prevent the emergence of warlords, we must eliminate the possibility of their emergence. Especially military power and finance.

In terms of the army, Peter has built an army that obeys his orders. Although it is still not a fully proficient soldier, the extensive use of firearms is also a great improvement. At the same time, Peter continued to improve military institutions, including the Ministry of Finance, hospitals, loot distribution offices, etc. This is very good at the moment.

As for finances, Peter handed them over directly to the Archduke. The financial department of the Senate directly assigns tax collectors to various places to establish a vertical financial system.

It is crucial to sever the emergence of nobility, especially the great military nobility. After all, there were countless examples of military coups in Eastern Rome, and Wallachia did not want to repeat the same mistakes.

"Sir, there is a situation."

Petkov reported news from abroad to Peter, and this news came from Serbia.

"At present, Blankovic has the absolute advantage, and other lords have also surrendered. And they have the support of Osman."

"In other words, this is the new lord of Serbia?"

"Yes"

Peter looked at the map of the Balkans. Except for the three big countries of Wallachia, Serbia and the Ottomans, the rest was just scraps. Especially the part near the Adriatic Sea, it can't be broken anymore.

"Currently the Ottomans occupy most of the Aegean coast, forming a semi-siege situation around Athens and other places. Venice is in danger."

Peter laughed as he listened to Petkov's report.

"No, no, no, Osman will not let them suffer."

Peter remembers clearly that the Ottoman tax on Venice was 2%. And there are also preferential treatment for commercial countries such as Genoa, so the reason why the Ottomans blocked the Silk Road and led to the opening of new sea routes is completely wrong. It is purely because countries such as Venice charge too high prices.

"Now that we're here, are there any possible allies?"

Petkov shook his head, "It's difficult, my lord, in front of the Ottomans, all the allies here can be crushed."

Now the Balkans are all doing their own things, and facing the same enemy is like six countries uniting, each with its own ideas. How could such an alliance not lose the war?

Peter turned his attention to Morea, dividing the Peloponnese equally between him and the principality of Achaia. The population is small and the army is almost non-existent. But this was already a possible ally of Wallachia.

"Wallachia has no friends in the Balkans, just like crumbling Constantinople."

The main task should still be to develop productivity. After all, if you are strong, you will be a little worried if the other party wants to attack you.

----Dividing line----

The autumn harvest is here in a blink of an eye, and the taxes paid by the common people and nobles have basically been completed. As expected, Wallachia's tax revenues this year amounted to RON 1.73 million. Among them, 55% is customs duties, 35% is civilian tax burden, and the rest is revenue from special sales such as salt.

In terms of expenditure, because the war against the Ottomans had depleted the surplus, it had to increase revenue from the domestic finance, increase the price of salt, and increase tariffs. Although it was canceled due to the victory in the war, there were still some complaints from the domestic people.

Of course, borrowing from domestic businessmen is also an option in times of emergency. Before and after the Battle of Sofia, Grand Duke Mircea borrowed a batch of 10,000 lei from the Chamber of Commerce, and then borrowed several more loans, finally reaching 85,000 lei. Mircea quickly paid off the loan, but borrowing from the Chamber of Commerce is also a short-term option.

Subsequently, the increase in land and people expanded domestic trade. Mircea and Peter welcomed merchants to do business because there was more income. At the same time, a series of major projects were started. Infrastructure construction such as dredging rivers and building roads made the trade routes safer and more convenient, and merchants conducted more transactions.

Policies to support small farmers continued, and Mircea allowed residents of new territories to pay taxes in the form of rent in kind. These things will be exchanged for coins in the form of transactions, which also promotes the development of the market.

In terms of foreign trade, Wallachia also began to get involved in trade along the Silk Road. Commodities from the East, including pepper and livestock, can be resold at several times the profit. This is because Wallachia occupies the northern route of the Silk Road, so these things can also be bought, but the price is not as cheap as in Egypt.

Trade between Wallachia and the Hanseatic League deepened. In July, Archduke Mircea issued a commercial decree: Hanseatic merchants enjoyed special preferences and could pay half the trade tax than other foreign merchants. This can make those Italian city-states very angry.

Peter can also trade some things through the Hanseatic League. Most of his trade is exported through this alliance, so both parties help each other.

Under Peter's impetus, the first manual workshops appeared in Constanta. The number of workers in these workshops ranges from 20 to 120, covering industries such as textiles and shipbuilding. Employment markets and permanent help began to emerge.

Peter used his money to invest in land, industry and commerce, and he had a share in mines, factories, etc. Iron smelting yards, weapons yards, gunpowder yards, etc. were all established to provide weapons for the Wallachian army and tools for the people.

The ceramics and glass industry was established in Moldova, and the craftsmen recruited from Venice and Bohemia really showed their prowess. The products produced quickly took away some of the market in Venice, and the profits obtained exceeded those of many industries. Especially ceramics. Although they also have aesthetic tastes, they are naturally willing to pay more than ten times the price to buy them when they see patterns that are almost the same as those from the East.

The silk industry is also a rapidly developing industry in Wallachia. The largest silk processing industry is Italy, and Wallachia's share is also increasing. Gyurgiu became a silk trading center, and Wallachia harvested more than 150,000 lei from here this year. According to the 8% tax rate on silk, the value of silk produced in Wallachia this year was nearly 1.9 million lei. (silver)