‘Go on.’

‘Poll tax and winter billeting tax, both of which are levied directly by the military authorities, have been doubled. Every merchant and entrepreneur also has to pay their “tenth groat” into the royal treasury. This is an entirely new tax: one groat on every noble of turnover. In addition, dwarves, gnomes, elves and halflings are paying increased poll and chimney tax. If they engage in trade or manufacturing they are also charged with a compulsory “non-human” donation of ten per hundred groats. In this way, I hand over sixty per cent of my income to the treasury. My bank, including all its branches, gives the Four Kingdoms six hundred marks a year. For your information, that’s almost three times as much as a wealthy duke or earl pays in levy on an extensive estate.’

‘Are humans not also charged with making the donation for the army?’

‘No. Only the winter billeting tax and poll tax.’

‘That means,’ the enchantress nodded, ‘that the dwarves and other non-humans are financing the campaign being waged against the Scoia’tael in the forests. I expected something like that. But what do taxes have to do with the conclave on Thanedd?’

‘Something always happens after your conclaves,’ muttered the banker. ‘Something always happens. This time, I hope it will finally be the opposite. I’m counting on your conclave stopping things from happening. I’d be very happy, for example, if these strange price rises were to stop.’

‘Be precise.’

The dwarf leaned back in his chair and linked his fingers across his beard-covered belly.

‘I’ve worked for a good many years in this profession,’ he said. ‘Sufficiently long to be able to connect certain price fluctuations with certain facts. And recently the prices of precious stones have risen sharply. Because there’s a demand for them.’

‘Isn’t cash usually exchanged for gemstones to avoid losses based on fluctuations in exchange rates and parities of coinage?’

‘That too. But gemstones have one other considerable virtue. A pouch of diamonds weighing a few ounces, which can fit inside a pocket, corresponds in value to some fifty marks. The same sum in coins weighs twenty-five pounds and would fill a fair-sized sack. It is considerably quicker and easier to run away with a pouch in one’s pocket than with a sack over one’s shoulder. And one has one’s hands free, which is of no small import. One can hold onto one’s wife with one hand and, if needs must, punch someone with the other.’

Ciri snorted quietly, but Yennefer immediately quietened her with a fierce look.

‘Which means’ – she looked up – ‘that some people are preparing, well in advance, to run away. But where to, I wonder?’

‘The far north tops the list. Hengfors, Kovir and Poviss. Firstly because it is indeed far away, and secondly because those countries are neutral and are on good terms with Nilfgaard.’