prosperous age

"Only when such a consensus is reached throughout the world can the imperial family and nobles give up the matter of land annexation and put their money and energy into such profitable business associations and workshops."

Zhang Xueyan silently repeated Wei Guangde's words, feeling a surge of emotions within her.

To pay less interest, he sold some of his land and used the proceeds to repay some of his previous loans.

All they wanted was the shares in the Ming Dynasty Bank they held.

Wei Guangde had said before that the Daming Money Shop would definitely make money once it was established.

Later, there was a stock exchange, which made it convenient for them to sell their shares at any time.

In that space, the value of the shares would far exceed the amount of money invested.

He chose to give up some of his land so that he could sell a batch of shares at a high price once the stock exchange opened.

I had originally planned to sell the shares, make some money, and then buy the land back in my hometown.

Upon hearing Wei Guangde's words, Zhang Xueyan wavered slightly.

Opening a workshop or investing in a chamber of commerce can earn you far more money than farming, and you'll get a lot of hard-earned cash.

Unlike farmland, which, although yielding stable but low output, is entirely dependent on the weather.

If the weather is good, everything is fine, but if a disaster strikes, it's possible to harvest nothing for the whole year.

Although investing in stocks can result in losses, with a little insider information, you can sell your stocks in advance to avoid losses.

In business, making and losing money is normal, and Zhang Xueyan can understand that.

"The Grand Secretary is far-sighted and truly works hard for the country. He has already laid out plans here to extend the dynasty. I admire him greatly."

At this moment, Zhang Xueyan sincerely cupped his hands and said to Wei Guangde.

He truly admired Wei Guangde, who didn't neglect his own interests while still contributing to the Ming Dynasty.

If this exchange is operated well, it can generate a considerable amount of tax revenue for the imperial court.

Fiscal revenue is a crucial factor that significantly impacts the rise and fall of a dynasty.

Don't be fooled by the common saying that the end of a dynasty is marked by incompetent emperors and greedy officials; the real issue is often a fiscal deficit, forcing the government to impose heavy taxes on the people in order to maintain order.

If, through other means, the government could increase revenue without levying taxes on farmers, it would certainly be able to continue the dynasty.

The common people don't care how extravagant and decadent the people above are. As long as they can survive, no one will think about rebelling.

If the people below are not in chaos, the dynasty will naturally be stable.

These scholars, in fact, made their living off the dynasty.

In times of chaos, they are nothing.

Didn't you hear the old saying? A scholar's rebellion will not succeed in three years.

Wei Guangde, however, was not affected by Zhang Xueyan's flattery and was still thinking about whether he had missed anything in what he had just said.

Zhang Xueyan put down his brush, a thought suddenly struck him, and asked, "Your Excellency, could the solution to the court's financial problems lie in this discussion?"

Zhang Xueyan came from a gentry family. Although few members of his family passed the imperial examinations, they were still considered small landlords in the area.

The reason he was able to rise from a county magistrate to a minister in 25 years and become a powerful figure in the court was that he could see through the essence of things and was good at changing his stance according to the prevailing winds.

During the Jiajing reign, when Japanese pirates roamed the south and northern regions, he studied military books and demonstrated his understanding of military preparations. As a result, he was naturally sent to the north to serve in military positions and successively held official posts in Shanxi, Liaodong and other places.

After the Longqing reign, seeing Zhang Juzheng's growing power, he decisively pledged allegiance to him.

It was this keen eye that enabled him to rise through the ranks and enjoy a successful official career.

After Zhang Juzheng's death, he decisively sought refuge with Wei Guangde.

Even now, the stool under his buttocks remains as stable as Mount Tai.

At this moment, he recalled Wei Guangde's previous actions and keenly sensed the difference between Wei Guangde's and Zhang Juzheng's rule.

It is clear that Wei Guangde was intentionally or unintentionally shifting the direction of the Ming Dynasty's fiscal revenue collection from the fields to industry and commerce.

Since the exchange of silver at the brokerage firm, a considerable portion of the Ministry of Revenue's revenue now comes from commercial taxes.

In the past, the imperial treasury was not entirely devoid of commercial taxes; for example, salt tax and tea tax both fell under the category of commercial taxes.

However, some of the changes made by Wei Guangde did indeed allow a large amount of silver to flow into the Ministry of Revenue.

The source of these tax revenues was no longer the poor people toiling in the fields, but rather the wealthy merchants.

The establishment of the Daming Money Shop was supposedly to suppress the high lending rates in the market, but wasn't it also cutting off a way for local gentry to make money?

The gentry's income came from two sources: land and lending.

They are not good at business, so this part of their income is very low.

Land revenue is limited; the main source of income is still through lending.

With lending income now greatly reduced or even nonexistent, and holding large amounts of money, it seems not impossible for gentry to engage in commerce, provided the policies are properly guided.

As the Grand Secretary, Wei Guangde openly invested in commerce and made a fortune.

Those who followed Wei Guangde also poured money into this business to varying degrees, not to mention the nobles in the capital.

Among the chambers of commerce that Wei Guangde mentioned could be listed on the stock exchange, there was one from a noble family.

Because Wei Guangde also held a certain number of shares and had a say in the matter, and the nobles had to carefully consider his suggestions.

Wei Guangde remained noncommittal and expressionless regarding Zhang Xueyan's speculation and the unfinished words.

At this time, the influence of the southern merchant group in the imperial court was not as great as it was in the later Wanli period, and they cultivated a large number of newly appointed scholars to enter the court.

These people held low social status at the time, mostly serving as censors and officials, so they dared to make noise and cause trouble. Especially after banding together in the name of the Donglin Party, they became even bolder.

These people likely understood the influence of censors on the court from the late Jiajing period to the early Wanli period.

The so-called main force of the Donglin Party were mostly of low rank and had few scruples.

If an official were truly of rank, he would at least consider the affairs of the country and wouldn't act so recklessly.

Even so, Zhang Xueyan, having served in the Ministry of Revenue for a long time, was well aware of the power of merchants, especially large merchants.

If a silver bullet offensive is launched, few in the court will be able to withstand it.

After all, most officials in the capital were supported by merchants.

Even with Wei Guangde's significant increase in their salaries, they still struggled to make ends meet.

No one studies hard for years just to get a job in the capital and continue to suffer. Everyone will use their power to do things for the merchants.

Wei Guangde no longer needs to use name cards to help merchants in his hometown evade taxes, but others still do.

Wei Guangde saw Zhang Xueyan off, and the two of them tacitly remained silent afterward.

Upon returning to the Ministry of Revenue, Zhang Xueyan naturally began making arrangements.

He summoned his trusted confidant to the duty room and explained in detail the rules of the exchange that he had heard from Wei Guangde.

Drafting such a charter is definitely not something that can be done overnight, so it must be kept secret before the news is released.

With Wei Guangde's guidance, the people below had a clear direction in their work.

Those who could remain in the Ministry of Revenue were all quite knowledgeable about economics.

Don't assume that all ancient scholars who passed the imperial examinations were only good at the eight-legged essay. The Ming Dynasty's examinations were actually a way to distinguish between good and bad officials, and to find those who were good at military affairs and financial management to fill positions in the Ministry of Revenue and the Ministry of War.

Those who are rigid in their work follow the path of the Ministry of Justice.

Those skilled in craftsmanship were naturally sent to the Ministry of Works.

Those who are adept at handling affairs have the opportunity to rise through the ranks, starting as county magistrates, then prefects, provincial governors, and so on.

Because being appointed as the local official, it is not enough to only understand economics or criminal law; one must be a well-rounded talent.

Of course, people who are tactful in their dealings are often also good at scheming.

The conversation between Wei Guangde and Zhang Xueyan in the duty room was relayed to the Qianqing Palace shortly afterward, word for word.

Influenced by Wei Guangde, the Wanli Emperor paid close attention to every move of the Grand Secretariat. Today, Zhang Xueyan entered the palace to visit the Grand Secretariat, and before he even left, the Wanli Emperor had already learned of this from the eunuchs around him.

As for how they overheard their conversation, that goes without saying.

There's nothing in the palace that the eunuchs can't overhear.

In fact, it wasn't just Wei Guangde who had his conversations with court officials recorded; other cabinet ministers received the same treatment.

Emperor Wanli required the Imperial Household Department to record and archive everything he met and said.

This office was personally managed by Zhang Hong, and it only handled matters within the palace, not outside of it.

If there's a problem, the Eastern Depot or the Embroidered Uniform Guard will naturally handle it.

Upon seeing the transcript of the conversation between Wei Guangde and Zhang Xueyan today, Emperor Wanli became interested at a glance.

Normally, he would just glance at these kinds of records and then ignore them.

However, this time, the conversation involved the stock exchange that he had been longing for, so the situation was different.

Emperor Wanli carefully read the record of their conversation, not just a summary, but the full details of their dialogue.

"Zhang Hong, you've seen this file. Tell me, could the inner court also have a stake in it?"

Emperor Wanli, of course, understood that the stock exchange was ultimately a chamber of commerce, not a subordinate office of the Ministry of Revenue.

Moreover, this chamber of commerce will also be listed for trading in the future.

Wei Guangde had told him in person that once trading began, the price of the shares would definitely rise.

This is why he cares so much about this matter; money can be a powerful motivator.

Even emperors are not immune to worldly customs.

After all, he wouldn't go against his conscience and directly seize his subjects' property through trickery and force.

For a property to be confiscated, the court could only be indicted if the person committed a serious offense.

Looking back now, I realize that I truly trusted Wei Guangde completely back then.

Without considering the feasibility of this matter, they blindly believed it and poured all the palace's private funds into the Ming Dynasty Bank.

Although the money shop did make money, which was better than letting the money sit idle in the inner treasury, he still preferred to earn more money for his own personal use.

"We'll only know once the Ministry of Revenue issues the regulations."

Zhang Hong answered honestly.

Wei Guangde has already arranged the exchange's revenue; the listed chambers of commerce and workshops will have to pay a listing fee every year.

In addition to the Ministry of Revenue collecting a tax of one-thousandth of every transaction, there was also a transaction fee to maintain the operation of the exchange.

Whether he will ultimately make a profit or not, he can't say for sure.

However, according to Wei Guangde's plan, at least ten chambers of commerce would be established at the beginning. Even if it was 100 taels a year, that would still be 1,000 taels of silver.

Even with transaction fees, as long as enough people participate in this business, it shouldn't lose money.

However, he would not say these things in front of the emperor.

"Your Majesty, we don't need to do anything now. We just need to wait for the Ministry of Revenue to make the necessary preparations. Whether or not we participate in the shareholding is just a matter of Your Majesty's word."

Zhang Hong looked at the emperor, whose face was ruddy, and flattered him.

This exchange can only be established with the Emperor's approval.

I didn't see anything about it being an exclusive business in the whole world. The Chamber of Commerce would be willing to spend 100 taels a year to make it easier for shareholders to trade their shares.

In any case, as long as it's an exclusive business, you basically won't lose money.

Moreover, the industry and commerce in both the north and south of the Ming Dynasty are clearly showing signs of recovery.

The Embroidered Uniform Guard secretly reported that many landless people in Jiangnan earn a living by working in workshops, and their income is even higher than that of farming.

Their products are partly sold overseas, earning them a lot of money.

The development of industry and commerce has indeed solved many people's livelihood problems.

It's a pity that industry and commerce are still developing faster in the Jiangnan region, while the north is lagging behind.

Even if the imperial court grants the Shandong Provincial Administration Commission a special exemption from some taxes, the increase in the number of workshops will still be limited.

The reason the imperial court chose Shandong was because the area had been in turmoil for a long time, and recently the White Lotus Rebellion had been discovered.

As long as people have a livelihood and can support their families, naturally no one will believe in the seductive ideas of cults.

"So, do you think this gold exchange can be successfully established?"

Emperor Wanli finally asked the question that had been on his mind for so long in front of his trusted confidants.

Zhang Hong remained outwardly calm, but his mind was already racing.

I'm afraid the Emperor isn't thinking this way.
He didn't dare to think too deeply, but he quickly organized his thoughts and said: "Your Majesty, it seems that Grand Secretary Wei's creations have never resulted in a loss."

Moreover, given his past practices, he would inevitably take full responsibility for what he proposed.

Although Zhang Hong's words were essentially meaningless, Emperor Wanli still nodded slightly.

This is exactly what he just told himself: to trust Master Wei.

"By the way, it's been so long, haven't we heard any news from the south yet?"

The Wanli Emperor felt much more at ease, but the thought of the Southeast Asia incident made him somewhat agitated.

"Your Majesty, that place is very far away. It would take two or three months to go there and back."

However, judging by the estimated time, it should be soon.

However, I have heard that Xu Qiaoan, the commander of the East Sea Navy, has already made preparations for the fleet to go to the Eastern Continent.

I heard that people can only travel back and forth there once a year, and news travels even slower.

Zhang Hong added another sentence.

"Oh, it's ready? Then why isn't there a memorial from the Ministry of War?"

Emperor Wanli's heart skipped a beat, and he immediately pressed for an answer.

"The ship is ready, but isn't it Li Chengliang, the Commander-in-Chief, still selecting soldiers?"

After all, there's a possibility of fighting with the Western barbarians on this trip, so we need to bring along the elite troops of our Great Ming.

Now that both people and ships are being searched, the Ministry of War should submit a report on this matter.

Zhang Hong spoke.

"Give Master Wei a hint and ask him to urge him on."

After that, the Imperial Astronomical Bureau will select an auspicious day; if it's not a good one, the whole year will be ruined.

Emperor Wanli said.

He carefully examined the known shipping routes to the Eastern Continent and knew that they were affected by the seasons.

In fact, at this time, almost all ships must take the season into account when embarking on a long voyage.

After all, they all rely on the monsoon for long-distance voyages. Although they can also sail by adjusting the sails, it is slow and takes a lot of time.

The Westerners had been navigating sea routes for over a decade, following the monsoon season.

Emperor Wanli did not believe that a single decree could allow his soldiers to go on campaign at any time, regardless of the season.

If you consider the time frame, it's actually quite rushed.

He was right; the Ministry of War was also urging Li Chengliang to complete the selection of soldiers as soon as possible.

His gaze fell upon the Liaodong troops led by Qi Jiguang. (End of Chapter)