The Merov duchies have no king, but that is not to say they're not a kingdom. The cultural similarities are quite strong (to the point that along the borders, dialects of Vincian and Cutanian and Naevarran and mutually intelligible), and the duchies could easily be brought under one banner, should any individual duke prove strong enough. Of course, this is unlikely to ever happen, but there do exist various common structures, such as manorialism, that exist throughout Merovia. And one of these is the Royal Trust of Merovia.
Technically, the Royal Trust would be called a pawn-brokerage in modern terms... it simply holds collateral in trust, and while doing so, may do with it as it may. As such, it is also a rather sophisticated trade collective, as it offers secured loans throughout Arimdom, and then profits upon the sale of the collateral. An ancient institution that is Tiberian in origin and dates to the earliest days of the Duchies, the Royal Trust of Merovia is perhaps the richest institution outside of the Church itself, and certainly more able to utilize its varied assets. For while so much of the Faith's wealth is tied to the land, the Royal Trust is a rare institution that deals in trade goods and even (in the South at least) gold.
And in truth, there is nothing like it. Although they have no extensive lands of their own, they have holdings, armies, ships, even serfs of sorts. They exist in every court in Merovia, and their presence is felt throughout the north. While little is known of them in Lloegyr (since the island does not possess a true market economy) they are quite powerful in Vincia, where they are sure not to create a costly rivalry with the Duke that might damage business. Still, all who know them respect them: even the most traditional Heorot lord will eventually seek to trade for something he does not have, and when he does, he would do best if the Royal Trust had not noticed him.
Technically, the Royal Trust would be called a pawn-brokerage in modern terms... it simply holds collateral in trust, and while doing so, may do with it as it may. As such, it is also a rather sophisticated trade collective, as it offers secured loans throughout Arimdom, and then profits upon the sale of the collateral. An ancient institution that is Tiberian in origin and dates to the earliest days of the Duchies, the Royal Trust of Merovia is perhaps the richest institution outside of the Church itself, and certainly more able to utilize its varied assets. For while so much of the Faith's wealth is tied to the land, the Royal Trust is a rare institution that deals in trade goods and even (in the South at least) gold.
And in truth, there is nothing like it. Although they have no extensive lands of their own, they have holdings, armies, ships, even serfs of sorts. They exist in every court in Merovia, and their presence is felt throughout the north. While little is known of them in Lloegyr (since the island does not possess a true market economy) they are quite powerful in Vincia, where they are sure not to create a costly rivalry with the Duke that might damage business. Still, all who know them respect them: even the most traditional Heorot lord will eventually seek to trade for something he does not have, and when he does, he would do best if the Royal Trust had not noticed him.
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