jdhmnovel Chapter 341 Money Shop
Chapter 341 Money Shop
Upon hearing this, a glint of light flashed in Shen Yuxi's eyes, and he secretly admired Shi Wanxia's wisdom.
He got up and paced back and forth in the imperial study, pondering the feasibility of these plans.
"Miss Shi is absolutely right. However, requisitioning supplies requires a large amount of money, and the national treasury is currently tight..."
Shen Yuxi looked troubled.
Shi Wanxia smiled slightly and said calmly, "We can borrow money from wealthy merchants in the city. We can promise them generous returns after the war, such as tax reductions and granting them commercial privileges."
"Wealthy businessmen, for the sake of national security and their own interests, will certainly be willing to provide financial assistance."
"In this way, the problem of money can be easily solved."
Upon hearing this, Shen Yuxi's eyes lit up and his mind suddenly cleared.
He looked at Shi Wanxia, his eyes full of admiration and gratitude: "Minister Shi, thanks to you, if these plans can be implemented, the crisis on the border will surely be resolved."
After the discussion, Shen Yuxi immediately summoned the Ministry of War officials to deploy the strategies discussed with Wanxia in detail.
The military officers accepted the orders and went off to make their own preparations.
The late spring wind, carrying the fragrance of locust blossoms, swept over the palace walls, but could not dispel the lingering gloom within the Taiji Hall.
Shen Yuxi's knuckles turned white as he gripped the battle report. The words on the parchment seemed to transform into weapons, piercing the flames of war across the northern frontier before his eyes.
"Your Majesty, the Northwest Army has been without food for three days."
Minister of Revenue Fan Peng reported in a trembling voice, his official robes soaked with dark water stains from cold sweat.
"We have already checked the national treasury, and even if we divert all the taxes, it can only support the military for half a month."
Crown Prince Shen Yanzhou stood beneath the dragon pillar, the jade pendant at his waist swaying gently with his breath.
He glanced up and swept his eyes over the kneeling civil and military officials below the steps. Seeing several old ministers with their heads bowed like autumn leaves covered in frost, he sighed inwardly.
Suddenly, the Censor-in-Chief Wang stepped forward and struck the ground with his ceremonial tablet: "Your Majesty! Merchants are richer than a country. Why not follow the example of the previous dynasty and confiscate the property of the wealthy merchants to fund the army?"
Whispers immediately filled the hall.
Shen Yuxi slammed the battle report heavily onto the dragon table, causing the incense ash in the bronze incense burner to fall in a flurry: "Although merchants are lowly, they are still my subjects."
"To confiscate property without solid evidence is no different from the actions of a tyrant."
His piercing gaze swept over the assembled officials. “My dear ministers are all learned men, and you should know the principle that water can carry a boat, but it can also capsize it.”
Looking at the deep frown lines between his father's brows, Shen Yanzhou suddenly recalled the scene three days ago in the Imperial Study, where Shi Wanxia was holding bamboo slips and talking eloquently.
At that time, she had just been promoted to the position of Minister of Works. When she talked about the war situation in the Northwest, her almond-shaped eyes shone brightly: "Merchants pursue profit. If we can drive them with profit, why worry about no one solving the national crisis?"
“Father, I think it would be better to summon Lord Shi to the palace for a detailed discussion.”
Shen Yanzhou cupped his hands and said, "The war in the Northwest is raging. Since Lord Shi has proposed a good strategy, perhaps he already has a way to deal with it."
Upon hearing this, Shen Yuxi's eyes brightened slightly, and he paused in his stroking of the dragon throne's armrest.
I recall the last time Shi Wanxia entered the palace, the tax reform plan she devised using an abacus actually increased the national treasury's revenue by 20%.
This woman possesses extraordinary talent.
"Summon Shi Wanxia to the palace!"
As dusk deepened, Shi Wanxia stepped into the Taiji Hall, bathed in the last rays of the setting sun.
The moon-white ruqun (a type of traditional Chinese dress) was embroidered with delicate cloud patterns, and the sky-blue jacket worn over it fluttered lightly in the wind, making her appear more lively than ordinary officials.
She knelt and bowed, her voice clear and melodious like pearls falling on a jade plate: "Your humble servant greets Your Majesty and Your Highness the Crown Prince."
"Minister Shi, there's no need for such formalities."
Shen Yuxi rarely smiled. "The war in the Northwest is urgent, and our supplies are running low. I've heard you have some good ideas. Why don't you tell me?"
Shi Wanxia stood up, took out a yellowed map from her sleeve and spread it on the ground. Her slender fingertips traced the northwestern border: "Your Majesty, although merchants value profit, they also fear disaster."
"If we can grant them special trade privileges, tax reductions, or even honorary titles, we can certainly entice them to eagerly open their wallets."
Shen Yuxi leaned against the Nine Dragons Sandalwood couch, his fingertips unconsciously caressing the jade thumb ring, listening to the clear voice of the female official Shi Wanxia echoing in the empty palace.
Since he had promoted this female official to the Ministry of Works, he had long been used to her making some shocking remarks, but the words "money shop" mentioned at this moment still made his pupils shrink slightly.
"5% interest per month?"
Shen Yuxi finally spoke, his voice carrying the unique imperial authority.
"What kind of business is this where you can make a sure profit? The people deposit their money, how will the government fill this hole?"
Shi Wanxia bowed calmly, her wide sleeves sweeping across the cool gold bricks: "Your Majesty, are you aware that nowadays, banks are everywhere in the city, and wealthy merchants have set up private banks. Although the interest rates are high, chaos is rampant."
"Last year, the Zhou family's bank in Jiangnan went bankrupt overnight, and how many people's life savings vanished into thin air?"
"If the imperial court could replace them with government-run money shops, it would surely be able to attract scattered silver from all over the country, relying on the credit of the national treasury."
She gestured for a maid to bring over the scroll, which, when unfolded, revealed a densely packed array of charts.
"These figures were collected by your humble servant from ten prefectures. In Yangzhou alone, there are over three million taels of silver lying idle among the people."
Shen Yuxi sat up straight, her gaze fixed on the fluctuating numbers on the chart.
Since his ascension to the throne, although there has been a period of peace and prosperity, there are also hidden crises – the war in the northwest is intense, floods occur frequently in the southeast, and the national treasury appears to be full, but in reality it is as empty as a paper lantern.
He suddenly recalled the memorial submitted by the Vice Minister of Revenue the day before, which stated that the salt merchants in Jiangnan had evaded taxes amounting to a staggering one million taels of silver. His brows furrowed even more deeply.
"You said you want to set up six departments for oversight?"
Shen Yuxi tapped his fingers on the table. "Accounting, reviewing, operating... how many more officials will this require?"
"Your Majesty, I request that you establish a 'Ministry of Silver,' directly under the jurisdiction of the inner court."
Shi Wanxia took out a stack of documents from her sleeve. "The Ministry of Silver shall have one Minister and five subordinate departments."
"The Operations Department is in charge of deposit-taking and lending; the Risk Control Department assesses lending risks; the Supervision Department inspects branches in various regions; the Accounting Department audits accounts; and the Legal Department formulates laws and regulations for money shops."
"All officials must undergo a three-year performance evaluation in managing finances before being appointed. Their salaries will be drawn from the profits of the money shops. Any instances of corruption will result in a tenfold fine."
A night wind suddenly swept by outside the palace, causing the gauze curtains to flutter loudly.
Shen Yuxi stared at the slender figure of the woman below the steps, and vaguely recalled their first meeting. She was just as dignified and composed, and in front of all the civil and military officials, she used abacuses to calculate the 300,000 shi of grain that had been embezzled in the grain transport.
The new terms she mentioned at this moment, such as "credit assessment for demand deposits," sounded absurd, yet they contained a kind of governance philosophy that he had never seen before.
How can I ensure that I can recover the principal and interest when lending money?
Shen Yuxi grabbed the vermilion pen from the table and heavily marked the memorial, saying, "If someone reneges on their debt, wouldn't the imperial court become the sucker?"
"I request the implementation of a 'guarantor system' and an 'asset-backed system.'"
Shi Wanxia unfurled the second scroll, which was covered with densely packed drawings of house deeds and land deeds.
"Any borrower must be guaranteed by an official of the third rank or above or a wealthy merchant, and must also mortgage land and mansions of equivalent value. If the loan is not repaid on time, the money shop has the right to sell the collateral."
"Furthermore, we could emulate the customs duties of the Maritime Trade Office and impose late payment penalties on those who fail to pay on time."
She paused, her gaze sweeping over the emperor, who was deep in thought on the dragon throne.
"As for loans taken out by officials, they must be registered with the Censorate. If any favoritism is found, the guarantor and the person providing the loan will be punished."
Shen Yuxi slammed the vermilion brush down onto the inkstone, the splattered ink spreading across the memorial: "You've certainly thought this through thoroughly. But in doing so, wouldn't the imperial court become the biggest lender in the land?"
"That's exactly right."
Shi Wanxia straightened her back and spoke with a firm and resounding voice.