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Elfrikaners
Chapter 21: Futures

Chapter 21: Futures

English Transcript recorded by Arnout, a bureaucrat of the Port Mpande Administration

"Mr Prinsen, as you can see. You can sell your goods at a fixed price with this new futures contract. No need to worry about the constant market fluctuations of the line going up and down. You can sell your goods at a certain date for a fixed amount of price."

The bureaucrat explained to a farmer as farmers stood at one end of the meeting room. Merchants sat on another end, and the bureaucrats occupied the remaining seats.

Jan watched as the farmers' eyebrows furrowed in incomprehension. He could understand, futures were a rather confusing matter, especially when people traded in futures. It made little sense how one could make money off it, but he will leave that to economists to explain.

The only farmer that seemed to not be lost in their explanation was their representative, Harrie Victorie, a rather intelligent farmer, although he could not read or write. He seemed to be on the uptake, and his facial expressions did not reek of hostility, unlike the other farmers who could not comprehend what they were thinking.

That very same man asked, "Who will be enforcing this contract? What if the merchants refused to pay?"

He glared towards the merchants, no doubt responsible for flooding the market with food, depressing the value of their agricultural produce.

Jan raised his hands and stood up to explain.

"We will enforce the contract. If the merchant is unwilling to hold his end of the deal, we will make him do so," Jan smirked. He touched his rifle, along with the rest of the bureaucrats, before moving his hand away from it. A perfect scene rehearsed for intimidation, and it influenced the merchants.

"But it is not as if the contract was forced upon you. Those who engage in the futures contract do so voluntarily. Why should a merchant engage in it? Well, it's because what if the price of food rises due to unforeseen circumstances? But the merchant still needs to ship a certain amount of food by a certain date. They would eat an enormous loss at that time, while the farmer profits. No one truly benefits from a futures contract. All it promises is stability. When you go to the markets, you do not need to worry that your produce decreases in value over time. It will be sold by a fixed value to whoever chooses to engage in the contract with you."

The merchants nodded, and some began leaving the room, thinking that this whole futures contract thing was a waste of time.

"It is like a chain, a chain of stability. Some may not want to be restrained by this chain, then you do you, and not shackle yourself. The farmer is expected to fulfil his end of the deal. If he fails to do so, compensation to the merchant is expected for the loss in profits."

Some farmers grimaced and left the room as well, seeing the contract as a shackle. Breaking away from the tethers that the contract brought, they excluded it from their minds as they left the meeting.

"What if the farmer treks away? How shall we be compensated?" A merchant asks, drawing irate glances from the farmers.

"The merchant in question will be able to repossess all of their belongings. Whether it be their farmland, their servants or even..." Jan paused, unsure whether he should continue, "their slaves."

"I do not think that is very valuable. It will require much time and investment on my part to make back what I am owed."

Jan frowned.

"If you are that dissatisfied with that, then you could always stipulate in your contract that peonage will be put into place. You are free to enslave them until they have worked to repay what is owed, but the taboo on enslaving another Boer…" He looked towards the merchant's eyes, "is what you will have to deal with."

Jan's lips curled up.

"But I feel such extreme measures are necessary for those who are caught after running away from their debts. We cannot encourage such behaviour, right?"

More men began leaving the room. It was understandable, many of these men trekked because they were running away from something from the Cape Colony. Whether they were searching for freedom from British authorities, or they were running from debts, they did not want to face the consequences of their actions.

Only a small remainder of men remain. And the farmer's representative Harrie Victorie asked, "All these supposed consequences will follow what the contract says?"

Jan nodded, "It is up to you and the merchant how you will fulfil your end of the contract, as well as the consequences resulting from it. If either side feels each other handled the matter poorly, you are free to complain to the local administration who will look into it."

The groups converged and began discussing what they want and what they did not want. Farmers and merchants were looking to negotiate a stable price for their goods. All these were facilitated by the administration, no less.

Russell, the English bureaucrat approached Jan, looking like he had something to say. "The Church can enforce contracts between men. If one fails to follow the contract, one will perish. Why do we have to enforce the contract instead?"

"Contracts are set in stone. But circumstances change, and perhaps a contract is to be renegotiated. Is that possible with the strict oaths one must make when contracting with the church?"

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"Enforcing them is bothersome though. We will need more men to do this. But these men are here to enforce the law. A military force that enforces the law, basically a police force."

A merchant came over interrupting their conversation. With a sly grin, he got straight to the point, "I can guess what is happening in the following weeks. The price of food is going to rise due to some scheme you're coming up with?"

It looks like some were quick to uptake the currents.

"Prices of food are too low. You should know the farmers are dissatisfied with the status quo. If you're smart, I presume you have already signed some contracts with farmers?"

"Why, yes! But I'm not too stupid to enforce peonage on them and hunt them down like some runaway elven slave. The harsher the contract terms, the more they will run away."

The merchant looked at his subordinates looking over at him, grasping papers for him to look over.

"It looks like I have more contracts to sign. I hope to see you again soon, Mr Boddewijk," The merchant bid farewell, straightening his top hat on his head.

Before Russell opened his mouth to continue their conversation, Jan asked, "Who's that man?"

"Valentijn Tibbe, a Dutch merchant who currently resides in Port Natal. He is a seed supplier," Russell explained.

"Seed supplier?"

"Farmers who want to grow new types of crops and want to plant on a new acre need seeds. Seeds suppliers help supply these seeds."

Jan nodded, "I see. Perhaps I should keep tabs on these seeds' suppliers."

Pietermaritzburg, in a non-descript inn, English recollection by Jan Boddewijk

"Jan de Winnaar, I see you and your entourage have made it through the trek to Natal from the Kingdom of Lesotho," Jan declared as he sat in front of the man who had the same name as him. Jan de Winnaar was the leader of the few trekkers who settled in the Kingdom of Lesotho. On behalf of Queen Moshoeshoe, Andries Pretorius got them to leave the lands on a threat.

"I see. You're one of the men who were there with Pretorius. From what I have learnt about you, you're the new Commando who established Port Mpande with Zulu aid."

The other Jan held no hostility in his words, almost as if he was restraining himself.

"You might have heard many things about the success there, but I'll admit is not easy collaborating with the Zulus. Who knows, anytime now, they could be massing a Zulu force behind the trees and swarm us the next day if I anger them."

Jan de Winnaar seemed to not believe his words but continued, "Let's get straight to the point. I'm here because I heard you are willing to provide supplies so my men can establish ourselves in another plot of land. The trek to Pietermaritzburg consumed most of our supplies, even if Lesotho provided some supplies, they aren't sufficient to re-establish ourselves."

"I can do that. I have cheap food. Access to eager traders willing to make a buck. I can afford to kit you out with sufficient supplies to re-establish yourselves. But…"

Jan de Winnaar's eyes slanted as he focused on Commando Jan Boddewijk's next few words.

"There will be interest in them. Consider it a loan. I request a small deposit from your men. I know that you should have some savings. You can easily afford the down payment, but I expect instalments from your farms once you establish yourselves. These won't be going to me; they would be going to my men who you are trading with. I am currently acting as their middleman."

"If that is all you wished, you can have dispatched a merchant in their stead. But you have chosen to show up personally. Speak, what is that you wish?"

Jan de Winnaar's muscles tensed up as he leaned forward on the table. The lean scholarly Jan repulsed his urge to lean backward.

"I hope that you will not forget my kindness. And that you will support me in my future ventures. You will become a Commando if this all goes to plan. Of course, I expect that you shall address me as Commando-General if conflict breaks out."

"Why should I be subservient to you?" Jan de Winnaar growled.

"Inevitably, the only ones willing to trade with your new township will be other Boers. And all will flow through Port Mpande. How can they not? For I do not levy any taxes on their goods. Plus, you don't have a choice. I don't see any other Commandoes lining up to give you a chance. If that was the case, you wouldn't be stuck in Pietermaritzburg for months, correct?"

Jan de Winnar held his head low and sighed in resignation.

"Very well, I accept your deal, Commando…General."

"So where do you plan to settle?" Jan unfurled a map on the table. Pointing at the Natalia Republic, he remarked, "Most of the good land here is taken by other Commandoes. But there are still some spots left. I'm sure Pretorius can be easily persuaded to let you have some land."

"I'm thinking of moving further inland. By the North, at the Orange river."

"That is rather dangerous. Aren't there still hostile Elfrican tribes there? Boer settlement over though is rather low since most stay within the Republic's borders. I will not be able to provide much support if you're that far away from me."

"We don't plan on straying too far from Winburg. If anything goes wrong, we will fall back to Winburg. And perhaps settle in the Republic."

"Very well. If you make yourselves at home, do prepare a welcome for me."

"Why?"

"I am planning an expedition there sometime soon once I settled my domestic affairs. An expedition to Zoutpansberg. You ought to prepare some men for the oncoming expedition."

"Don't tell me a man like you believe the rumours of gold to be found? I believe it is trickery by the settlers over there to encourage more to go over and settle there."

Commando Jan shrugged.

Russell observed the map scribbled on by Jan. An extremely curved line following the trails trekkers made to head to Zoutpansberg. A large dot was drawn rather North, annotated with the name "Jan de Winnaar."

"Why are supporting the settlements of Commandoes further North? Even if we take them as subordinates, we won't be able to support them militarily if they are attacked. Vice versa. Are you planning something with Zoutpansberg?"

Jan opened his mouth to speak but closed them soon after, unsure of whether he should speak. Russell waited for Jan to gather his words.

"This might sound crazy. But I believe in the rumours that there is gold to be found in Zoutpansberg. And we need that supply of gold if we are to fund any serious industrial efforts. Importing industrial machines from Great Britain will cost an arm and a leg."

"That's stupid! Even if there is gold there, and we somehow were able to get our hands on it? How are we going to bring it over here so that we can use it!"

Jan pointed at the various dots leading to Zoutpansberg.

"Increased Boer settlement will increase the security of such a route. And these Commandoes will be relatively friendly to our presence. After all, Port Mpande might get too crowded in the future. I am planning for another base of operations between the route here to Zoutpansberg to oversee everything. It will serve as a new place for immigrants from Cape Colony to settle, and it will receive the similar support Port Mpande have. But I need a capable Commando to lead the trek there. Like that, we can help the other subordinate Commandoes."

Russel shook his head at Jan's map painting delusions. But he let himself sink into the insane thought process for a second there and thought of the perfect candidate for the new Commando for the location.

"Who else would be as capable and trustworthy as your father? I don't think your father will harm your enterprise in any form considering how much he has invested in the Port Mpande project. And you can carry out what the Chinese call Filial Piety."

"That's not a bad idea," Jan remarked and jotted down in a notebook. He needs someone with experience and someone that he could trust since they would serve as a future hub for inland South Elfrica. What other better candidate than someone blood-related to him?"

"Still, all these grand plans for the future are splendid. But shouldn't we focus on developing our relations with our neighbouring Boers? I fear that they may grow to envy your current success and seek to knock you down a peg or two."

"Some of the potential Commando candidates I have contacted are interested in settling in what remains of the Natalia Republic, so we will have some men close by that will diplomatically support our initiatives."

"That is well and all. But they are small fries compared to the Boers who established themselves here for years. And they are the men that even Andries Pretorius has to somewhat submit to for they hold considerable power in the Republic."

"So, the slaveowners? The ones with big plantations that employ many men and elves like my father?"

"Your father's plantation is large. But those men own many more plantations and can field bigger armies. Of course, your father doesn't need to worry about these men. As a Veldkornet, he is subordinate to the biggest man in the room, Andries Pretorius."

"Then help me make the appropriate introductions to these men, I do not wish to get onto these men's bad side. Make sure to send human envoys to meet these men. Do not send elves, for I fear that they would be seen as gifts instead of as envoys."

"That can be accomplished if you increase the number of staff in our bureaucracy. Keeping track of the futures contract is a headache."

Russell Corbyn massages his head.

"You should know that is hard, making children go to school for the first time is difficult. Now imagine making grown men and women go to school to learn how to read and write in another language."