THE RULEBOOK PAGE THREE
PAGE ONE: KINGDOMS
PAGE TWO: THE ROYAL COUNCIL
PAGE THREE: THE ROYAL TREASURY
PAGE FOUR: LOYALTY
PAGE FIVE: THE MILITARY
The money in the Royal Treasury does not represent all of the gold in the kingdom, just that portion that is available to the King through taxation. The Treasury provides the salaries of the Royal Council, funds the Military, pays for construction projects, bribes to foreign officials, ransoms and anything else the King wants to spend it on.
If a Royal Chancellor is employed, the Tax Rate can be set by the King. Otherwise tax level is limited to None.
In Feudal kingdoms, Tax Rate cannot be greater than High, due to the inefficiency of the feudal system.
Taxes are collected annually. During the course of the game year, tax revenue (the amount gathered) can only increase with the addition of revenue from new Trade Agreements. However, additional money can be added to the Treasury by other means - confiscation of noble property, war plunder, ransoms paid by other rulers, discovery of lost treasures, etc. The Treasury decreases as new Councilors are added, new troops are trained, ships and fortifications are built.
Troops, Ships and Fortifications are payed for annually. Their costs are deducted immediately from the Royal Treasury. For Fortifications and other Royal construction projects that take more than a year, the cost is divided into annual payments. If a project takes 2 years to build, the cost will be divided into 2 equal payments, giving the King the option of halting construction to save money.
The Tax Rate can be adjusted by the King (up or down) once during the year. So, rulers must be certain they are able to deal with the consequences of high or low Tax Rates on their populace. To alleviate Loyalty problems from a high Tax Rate, a King can distribute money back into the kingdom from the Treasury at anytime.
At the beginning of play, the Royal Treasury is set at a 5-year revenue total with the last year's expenditures deducted.