GOT/ASOIAF: Ruler Beyond The Ice

Two Free Folk with less severe injuries were dragged out of the cells, given food, and told the message they were to deliver. The Night's Watch then lowered them down from the Wall… The prisoners, who had been locked away for days, were thrilled to regain their freedom. Once they reached the ground, they leapt from the basket, sprinted off, and quickly vanished into the vast Haunted Forest.

With the garrisons and walls of the three main Night's Watch strongholds restored and seven newly opened forts operational, the defenses along the gorge and the entire Wall were finally connected. The frequency and scale of attacks remained constant, with casualties reported daily, but the Free Folk's hope of crossing the Wall into the Gift was growing slimmer by the day. Despite their ability to observe the defenders' movements using skinchangers' birds and beasts, they were still the best scouts on the continent paired with the most poorly equipped and undisciplined main force imaginable…

Mance Rayder had once been a deserter from the Night's Watch. Gathering a hundred Free Folk tribes and leading them to the foot of the Wall was already the height of his ability. Now, he was completely at a loss, unable to form a proper army to break through a tightly guarded defense line swarming with sentries and patrols.

As long as the message that the Night's Watch was willing to negotiate reached the "King Beyond the Wall," no matter how skeptical or unwilling he might be, he would have no choice but to accept the olive branch and respond.

The initiative rested entirely with the Night's Watch.

…

The new recruits brought by Melisandre and her followers were quickly integrated into the corps and assigned to various departments. Until now, Aegor hadn't had a single subordinate within the official "Logistics Department." Alliser Thorne, who had been declared a representative in King's Landing, had been completely sidelined in practice. Perhaps out of guilt, when Aegor requested help, Mormont readily assigned Humphrey Hill to the department.

At last, Aegor had an official subordinate within the system. He appointed Humphrey as the "Chief Logistics Officer of Queenscrown," working alongside "Mayor" Yam to develop and manage the trading market in the Gift and to ease the burdens Yam had been carrying alone.

---

After a few more days of work, Aegor finally welcomed the long-anticipated delegation from the Iron Bank.

…

Three Braavosi arrived at Castle Black, escorted by a small contingent of rangers. They passed through the newly rebuilt gate and dismounted in the center of the courtyard.

"Gentlemen, welcome to Castle Black, the headquarters of the Night's Watch," Aegor greeted them warmly. "I am the Chief Logistics Officer of the Night's Watch. This man beside me is the Lord Commander, Jeor Mormont."

The leader of the Braavosi, a tall, thin man wearing a purple felt hat, stepped forward. "Tycho Nestos. These two are my guards. I have been sent by the Iron Bank to assist the Night's Watch." He removed his hat and bowed slightly. "Thank you, my lords, and the brothers of the Night's Watch, for your hospitality and safe escort. I hope we haven't caused any trouble."

"Not at all, ser. You are most welcome," Mormont replied with a smile. At least that part felt genuine. "Would you care to come inside for some hot soup and warm food, or would you rather visit the top of the Wall? Castle Black has the highest vantage point. The view over the Haunted Forest is unlike anything in the world."

"No doubt… but we've already experienced the Haunted Forest from Eastwatch. There's little meaning in seeing it again from a few dozen feet higher. After a long ride, I would prefer a warm and quiet room where we can discuss the purpose of our visit."

Mormont gave a knowing nod. "I understand. Come, we'll go to my study. Jon, fetch some food and mulled wine from the kitchens."

…

The fire in the hearth had burned low, but the room was still much warmer than outside. Mormont's crow welcomed them with a squawk of "Corn!" They removed their cloaks and coats and sat down around the Lord Commander's desk.

Once the guests were seated, Aegor began, "What a coincidence. Just a few days ago, I was preparing to sail to Braavos myself to request a loan from the Iron Bank to get us through these hard times. I didn't expect the Bank to send three representatives here first. May I ask, my lords, what is the purpose of your visit?"

"I don't dare call myself a lord. We are humble employees of the Iron Bank," Tycho said, though he held his head high, as if well aware of his authority. "Our mission is clear. The Bank's directors heard about the troubles facing the Wall and instructed us to offer all possible assistance. We are authorized to offer the Night's Watch an interest-free loan to help its defenders through these difficult times."

Aegor and Mormont exchanged a glance, both visibly surprised. This was unexpected. The Iron Bank may have received information about the wights from Jaqen H'ghar and grown concerned that the White Walkers would overrun Westeros, making their loans to the Iron Throne unrecoverable. That part made sense. But to rush here uninvited and say, "We're here to give you a loan, interest-free"...

It was a bit too enthusiastic. Too forward.

The logic didn't add up… All the arguments Aegor had prepared in advance were rendered irrelevant by those words. He didn't know how to respond. Then, something suddenly surfaced in his memory: before Jaqen had left, he promised to send a ransom and said he would pay within a few months. Could this "interest-free loan," offered unsolicited, be the very ransom the Faceless Man had promised?

If that was the case, then the reach of the Faceless Men within Braavos was far beyond Aegor's expectations. He stared at the three men in front of him and thought to himself, Is one of them Jaqen H'ghar, wearing a new face?

"Of course, there are conditions," Tycho continued. "We ask that the Night's Watch industry be pledged as collateral, and that observers be allowed within the Night's Watch's territory to ensure the loan is used for defending the Wall. Additionally, if you intend to procure supplies from beyond Westeros, Braavos must be given priority."

Was the Iron Bank trying to use the Gift as a loophole to infiltrate Westeros? Or did they hope to use the loan as leverage to take over the Night's Watch's enterprise? Aegor wasn't sure. With Stannis seated on the Iron Throne, neither seemed likely to succeed.

After some thought, Aegor put his doubts aside. At a time when the Wall's supply lines were on the verge of collapse and thousands of lives were at stake, could he afford to turn away a lifeline just because of vague suspicions?

Better to think of real, tangible gains. "Those are reasonable terms. But we have a small request—the Wall is short on manpower, and we lack the people to manage such operations. We hope the Iron Bank will issue the loan directly in the form of food aid."

Tycho raised an eyebrow. "What do you mean, Lord Logistics Officer? The Iron Bank should purchase the grain on your behalf and arrange for ships to transport it to the Wall?"

"That would be ideal."

Tycho chuckled. "I've heard the Chief Logistics Officer is known for seizing every opportunity and resource. Seeing you now, I believe it."

Aegor shrugged, taking it as a compliment. "So, do you agree?"

"My orders are to assist the Night's Watch to the fullest extent permitted. Everything is negotiable. But we must agree on the details. Is that acceptable?"

"Certainly."

"Very good. Let's begin. First, bring me something to drink. I'm parched."

Out of respect, Aegor deferred to Mormont and had him appear to lead the negotiations with the Iron Bank envoys…

But in truth, the old bear had no say in the matter. Aegor and Tycho spent two or three hours drafting clauses and hammering out the fine print. When the final document was ready and both Aegor and Lord Commander Mormont signed the contract drafted by Tycho, Jon Snow's legs had gone numb from standing.

The Iron Bank would provide a loan of up to 100,000 gold dragons and would be responsible for converting the amount into food and fodder for transport to the Wall. However, the price would be based on the market rate in Braavos on the day the ship docked at Eastwatch. Furthermore, all expenses incurred during the process—including the pay of supervisors, the cost of hiring ships, and any losses or compensation from accidents at sea—would be charged against the loan. In short, it would all count toward the 100,000 gold dragons.

Once winter ended, the Night's Watch would have twenty years to repay the debt.

---

"Are you sure this is a good deal? That Tycho fellow made it clear that, after all the expenses, we're essentially paying double what we would for grain from the North," Mormont said uncertainly after the Braavosi had been shown to their quarters. "In other words, we'll get food worth 50,000 dragons, but owe them 100,000. That so-called 'interest-free' loan is just a pretty name. They're taking their interest through other means."

It looked like a scam on the surface, but Aegor, as someone familiar with financial maneuvering, knew better. The Iron Bank wasn't being exploitative in this deal. They were genuinely trying to help. "They're merchants. It's unrealistic to expect them to gain nothing. It's true, we'll probably receive grain worth 50,000 dragons, but the fact is—even if they gave us 100,000 dragons and told us to handle everything ourselves, we might not be able to secure that much food. More importantly, we signed our names, and that was all it took. Even if we do have to pay up, it won't be for twenty years."

"Well, the Night's Watch is being pledged anyway." Mormont shrugged. "I'll likely be dead by then… Whatever. Do as you see fit. I have no objections."

"Thank you for your support, my lord," Aegor said sincerely.

…

After leaving the room where he'd spent half the day, Castle Black appeared unchanged, but in Aegor's eyes, everything was different. There was no turning back now. There were many in the world who had offended kings and still lived carefree lives, but no one who struck a deal with the Iron Bank could ever go back on it without consequence.

Until the very moment he signed the contract, he had the option of quietly cashing out all the Night's Watch assets he controlled, fleeing across the Narrow Sea, and living in peace and luxury as a rich man. But driven by something that could be called ambition—or something deeper—he made the opposite choice.

Like a gambler who had already won, he wanted to bet again and win bigger. Now, he had placed everything he had—his Night's Watch industry and current position—back on the table.

The loan was secured. There was no time to hesitate or regret. Aegor's expression hardened with resolve. With the long-term food supply settled, it was time to figure out how to secure enough food from the Free Folk to survive the coming month... and the next.

(To be continued.)