"Well, merchants generally show up at a siege. This is a rather unusual group, though. What do we know about the prince and the up-timer?"
"I'll find out."
Some days later Miguel had an answer. "Your Highness," Miguel spoke quietly, "I have that report you asked for."
Don Fernando looked up with a sigh, "Which report, Miguel? I seem to fill my days with one report after another. Please tell me this one is at least amusing."
Miguel shrugged. "Not amusing, then, Miguel?" Don Fernando asked. "What is it then? More supply problems? The fleet wants to move a few more miles out to sea just to be safe? The Inquisition has gone on a rampage?"
"I doubt the inquisitors would dare, Your Highness. I believe we were fairly firm with them. No, this is about the people who want to visit you, Prince von Liechtenstein and his party of merchants."
"Ah, yes . . . that report. I don't suppose the up-timers are here to sell me a marvelous siege engine, one that will reduce Amsterdam's walls to gravel?"
"Not at this time, I fear. I have quite a bit of information, though. One visitor is the 'chairman of the board of directors' of a very wealthy entity called 'Other People's Money.' It is a mutual fund, I'm told. Another is called a 'financial expert' from up-time. I have a prospectus here, and an annual report from this OPM, as well." Miguel passed the papers over to Don Fernando and waited patiently as the prince read through them.
"Is this true, Miguel? Does this OPM truly have this kind of money?"
"Of that, I am not sure, Your Highness. It will take some time to confirm. I do have some information on Prince Karl, also. It seems that his father was in business with the traitor, Wallenstein, a number of years ago. A bit later in their lives, he tried to have Wallenstein executed for treason, which, you must admit, is fairly standard for Ferdinand's court. A very wealthy young man, and, unlike his uncles, Gundaker and Maximilian, who support His Majesty, Ferdinand II, it appears that young Karl is making certain overtures to Wallenstein."
"Yet another traitor, Miguel?"
Miguel shifted a bit uncomfortably. "His lands, many of them, are now in the territory claimed by Wallenstein. I'm forced to admit, were I in his position, I might have to do the same."
"All right, set up a meeting. It might prove to be amusing after all."
They had arrived at the siege of Amsterdam almost a week before. Now they were seated around a large table in the dining room of the estate Don Fernando was using as his headquarters. It was the third day of talks between Don Fernando and the Grantville merchants. The group had made their request and Don Fernando had agreed to it without hesitation. However, simply assuring the world that he would not loot the Wisselbank didn't strike him as all that good a solution. He wanted more information on effects of the siege. Now, finally, they were getting down to the reasons the merchants felt this action had been necessary.
"If the Dutch guilder disappears or is drastically devalued, more money must be introduced into the economies of the nations that that use the guilder as currency for large-scale transactions," Fletcher Wendell explained. He knew he was being too technical, but he didn't want to sound like he was talking down to Don Fernando. "In the United States of Europe, the guilder represents a small but significant percentage of the money supply because of its consistent value. New United States dollars were initially set at a price in guilders. After their introduction, the dollars have been allowed to float, but we still use the guilder as the primary currency they are compared to. The sudden . . ."
"I am interested in how your American money works," Don Fernando interrupted. "This dollar, it is not backed by anything, no gold, no silver. You seem to print it at need. Yet, from what I'm told, it is generally accepted in the German states. Why?"
"The dollar is backed by the full faith and credit of the New United States, Your Highness," Fletcher said, "And we don't print it as we need it. We print just enough to keep the economy running."
" 'Full faith and credit'? Those are just words. Why could I not start printing money?" Don Fernando demanded.
It was immediately apparent to Don Fernando that he had said something silly or perhaps offensive. The clear desire of everyone in the room was to have someone else explain his gaffe to him, just so they wouldn't have to. People were looking at one another with that "you tell him" look that he had occasionally seen in his tutors when he brought up an indelicate subject. "Prince Karl, it appears I am in need of correction and my other guests are not anxious to provide it. Would you kindly explain?"