prosperous age

Wei Guangde thought this way because he assumed that if the people of the Ming Dynasty had deposited their money in banks for a year from the beginning, they would be worried that the banks would swallow their money.

After all, everyone in the capital knew who owned the Daming Money Shop.

It must be noted that the largest shareholder of the Daming Money Shop was the Wanli Emperor, which is a double-edged sword.

On the one hand, they kept the local gentry who coveted the Ming Dynasty's money shops out, so that even if they had the desire, they wouldn't dare to provoke them.

However, on the other hand, there is the question of whether it is safe for ordinary people to keep their money in the hands of the emperor.

Although the Ming emperors never extensively seized the people's wealth, many rumors and stories still circulated among the common people.

For example, phrases like "the emperor's power is supreme, he controls the universe," "all the nation's resources are at the emperor's disposal," and "the people's wealth is entirely under his control."

Even scholars who know common sense would say, when describing imperial power, that "the country and its people are all private property, and all the gold and silver in the land belong to the imperial treasury."

The emperor could use his power to plunder the people's wealth, and no one else could say anything about it.

For example, during the Zhengde reign, palace eunuchs once used the pretext of increasing the imperial treasury's revenue to arbitrarily drive people out and seize their land.

When Emperor Zhengde found out, he merely scolded the eunuch a few times and did not pursue the matter further.

It can be said that although he did not intentionally seize farmland, he did condone it.

The crucial point is that in the end, this matter was left unresolved.

Those estates later became imperial estates.

So, if the emperor doesn't care, nothing will happen, but once he does care, he can really plunder the people's wealth at will.

If you deposit your money in a money exchange, isn't that like throwing yourself into the lion's den?
As for the shares held by other nobles and powerful officials, the common people believed that the emperor would not rob them; they were simply people who had face in front of the emperor.

They have it, but I don't.

So, how do we gain their trust?

Naturally, this means that the silver deposited in the bank can be withdrawn at any time. Only in this way can the trust of the common people be gained, and they will deposit their surplus wealth in the bank.

But there's no rush. Wei Guangde will ask Zhang Ji first to see if it's troublesome for the money shop to handle irregular deposits.

The interest rate for this type of deposit is unlikely to be high; at most, it's only 1% per year, which is better than nothing.

That's what he was thinking. In the afternoon, he received a note from the Ministry of Revenue, showing the results of the ministry's meeting that day.

In particular, Wei Guangde considered the opinions of several influential officials in the ministry briefly before sending a note back to Zhang Xueyan.

Some of those opinions were things Wei Guangde hadn't considered, while others were things he had thought of but felt were inappropriate.

Since someone has raised this issue, let the Ministry of Revenue reconsider and see if it should be amended.

After the court session ended, Wei Guangde returned to his residence and summoned Zhang Ji to share his thoughts.

"Master, wouldn't doing this be too much trouble?"
Ordinary people have many trivial matters to attend to at home, and who knows when they will need money? Calculating interest is also a troublesome matter.

It would be better to keep it simple. In addition to providing a one-year savings account, we can also set up a policy with a monthly interest rate of 1%, but the principal and interest can only be repaid at maturity.

This way, the money exchange has room to maneuver.

At least knowing how much money needs to be repaid in the near future will help with cash flow management.

When Zhang Ji heard Wei Guangde suggest setting up fixed-term deposits, he immediately shook his head and objected, citing the high cost.

Okay, that's a high cost.

If interest were calculated that way, it would be quite labor-intensive to calculate the interest on customer deposits.

According to Zhang Ji, opening short-term deposits instead of the indefinite, demand deposits would reduce a lot of trouble for the money shop.

Without computers, the Ming Dynasty could not expect the kind of automatic interest calculation function that would be available in later generations.

As for manual operation, with current arithmetic, it seems that not many people can master it proficiently.

Wei Guangde nodded slightly.

His men are good at calculating interest, but they only calculate the kind of interest that is fixed-term.

They agreed on the monthly interest rate and the loan period, and it came out all at once.

However, calculating interest on demand deposits is much more complicated. You have to consider the changes in your account before and after withdrawing money, and you also need to be able to calculate the daily interest rate.

The abacus is good, but it can never surpass the calculator.

"You and Manager Zhou convey my message and see what he says."

You guys discuss it further, and let me know when you have an idea.

Also, you should tell him to consider whether it's possible to arrange for direct withdrawal if the depositor needs the money but the deposit date hasn't arrived.

I think most ordinary people don't dare to deposit silver in money shops now because they have their own concerns.

Although we know it's unnecessary, they don't.

After all, that little bit of money was saved up through their frugal living.

We need to give them confidence and make them trust the money exchange.

This is important.

Wei Guangde looked at Zhang Ji and thought for a moment before saying, "It would be best to set a new rule, that is, customers who want to withdraw their deposits before the due date, we will also allow them to do so."

However, only those who deposit money for more than six months will be charged monthly interest.

For periods less than six months, only the principal will be refunded.

You and Manager Zhou should discuss this suggestion.

Furthermore, the deposit service is currently only available at the provincial branches of the money exchange; there's no need to extend it to all branches for the time being.

The beginning is always the hardest, and Wei Guangde felt that it was best to establish a good reputation first before considering nationwide promotion.

It provides the convenience of short-term deposits, as long as those people deposit money into the money shop, they can withdraw it when it matures.

The news, once it spread, served as an invaluable advertisement for the Daming Money Shop.

Once everyone gets used to it, they'll naturally know what to do.

Throughout the day, Wei Guangde's mind was filled with thoughts on how to revitalize private assets.

Although he was wealthy, the Ming Dynasty's economy was developing rapidly, and much of his money was invested in the Chamber of Commerce. He didn't have much readily available cash, nor did he dare to take it all out.

Flaunting wealth is absolutely unacceptable.

The outside world knows that he has made a lot of money in business, and that's enough.

After Zhang Ji left, Wei Guangde sat in his study and thought about many things.

It's time to settle the score and clear his name of all the wealth he's accumulated over the years, both overt and covert, including those obtained through the abuse of power.

For example, the mineral deposits we own in Myanmar need to be transferred to chambers of commerce as soon as possible.

In this way, it becomes reasonable for the company to receive dividends as a shareholder.

What outsiders didn't know was that he didn't spend a penny on those mining shares; he simply helped Li Chengliang and the Duke of Qian protect them, and then they secretly divided up the profits from those industries.

Moreover, some of them originally belonged to Feng Bao, but he kept them for himself.

If it can't stand the light, you have to spend time washing it so it can see the light.

Although Wei Guangde felt he was still very young, he had already begun to consider his options.

Spend a few years gradually laundering those shady dealings to avoid trouble later when they're exposed.

Wei Guangde secretly planned to divide his Myanmar businesses among several companies, including the Sihai Chamber of Commerce and the Donghai Chamber of Commerce, and have Xu Siming and others manage them for him.

There are specific rules for how these things are categorized.

So he called out to the door, and soon a servant came in.

"Go and invite Master Zhang over." Of all the businesses below, the one most familiar to everyone is Zhang Tanming, the mysterious master clerk in the Wei family. He keeps a low profile in the Wei family, but his status is in no way lower than Zhang Ji's.

Because he was the one who planned most of the businesses in the government, including how to distribute the annual dividends from various regions.

Before long, a servant brought Zhang Tanming over.

"You may all leave now. Guard the outer courtyard and make sure no one gets close."

After Wei Guangde gave an order and everyone had left the courtyard, he looked at Master Zhang and explained his considerations.

"Master, the illicit businesses in the manor now include not only those in Myanmar, but also ginseng farms in Liaodong and the Zhangjiakou trade route."

In other places, these are not some shady industries.

Zhang Tanming sorted out the businesses he had in hand and then began to explain the manor's industries to Wei Guangde in detail.

In Myanmar, it was naturally the mines, a business with no initial investment, which Wei Guangde remembered vividly.

After all, the income from that place was originally meant to be shared between him and Feng Bao.

Later, when Feng Bao fell from power, Wei Guangde arranged for someone to help him, and Feng Bao took this matter to his grave.

As for the ginseng fields in Liaodong, they naturally refer to the ginseng harvesting business in Changbai Mountain and the Greater Khingan Mountains. Wei Guangde started his career by monopolizing this business and providing protection for Liaodong merchants, especially the sea route from Liaodong to Shandong.

The enormous profits gained from monopolizing ginseng have always been kept in the hands of the Wei family.

This business itself is not a shady industry; it just involves some private transactions between merchants and Jurchens.

Similar to the business dealings between Zhangjiakou and the Mongols, the imperial court allocated a limited amount of tea and ironware to the Mongols each year, so the servants of the Wei family inevitably became involved in smuggling.

Compared to the highly profitable maritime trade, the ginseng farms in Changbai Mountain and the smuggling of goods from Zhangjiakou to Mongolia are just as profitable.

"Sir, do you wish to relinquish or discontinue these two businesses?"

Master Zhang asked cautiously.

As a secretary from Shaoxing, he must have had a prestigious position serving under the Grand Secretary.

But only he knew in his heart that if anything happened, he would be the first person to be silenced by Wei Guangde.

So, aside from keeping a low profile at the Wei residence, he also knew how to enjoy life to the fullest.

To put it bluntly, it means knowing the risks involved, so eating and drinking as usual is the best approach.

His food and clothing in the Wei household were second only to those of the master and mistress.

Wei Guangde sat there pondering for a long time before finally asking, "What if we don't do it?"

"There will definitely be people who continue, after all, the demand for those goods on the grasslands is too great."

"As long as the goods are transported there, you can earn several times the profit."

Master Zhang understood, so he answered decisively.

"We mainly send out tea bags and a small amount of ironware, and also some fabric?"

Wei Guangde continued to ask.

"There is some grain, but not much. The main thing is tea bags, which have a high profit margin and are not very risky."

There used to be some salt, but in order to strengthen the court's control over the Mongol tribes, the lord ordered that salt be distributed according to the population of each tribe. This reduced the shortage considerably, so fewer people left.

Master Zhang offered an explanation.

"What do you think about handing this line over to the Embroidered Uniform Guard?"

They also used this opportunity to send people deep into the Mongol tribes to gather intelligence. Whether we stop or move out, it will always affect them.

Let them take over; we'll only get a small share from now on.

Smuggling supplies to gather intelligence on the grasslands is nothing unusual.

Wei Guangde concluded by saying something that might have been an attempt to excuse himself.

"In that case, the bulk of the profits will have to go from us to the Embroidered Uniform Guard."

Master Zhang, considering the 400,000 taels of silver that this route would bring in each year, couldn't help but add a comment.

With an initial investment of only 100,000 taels of silver, one could easily earn 400,000 taels of silver in a year. What business could be more profitable than this?

"Make arrangements on your end to gradually transfer the business to the Embroidered Uniform Guard within two years. We will only retain a certain share."

Wei Guangde did not completely give up the profits from this route; he had put in a lot of effort to develop it in the first place.

This included allowing the Xuanfu commanders, such as Ma Fang and Ma Gui, to open the gates and turn a blind eye to their merchant caravans.

Behind this was the arrangement of local governors and viceroys, which was also very energy-consuming.

Wei Guangde stared at the candidates for the position of Commander-in-Chief of Xuanfu and decided on Ma Fang and Ma Gui, simply because they were obedient.

The situation was similar for Li Chengliang and Qi Jiguang in Liaodong. Although he did not have direct contact with Li Chengliang at the time, he had brief contact with Li Chengliang through Liaodong merchants.

Li Chengliang was treated with respect in Liaodong. His caravan traveled between the Ming Dynasty and the Jurchens, and the government troops never caused any trouble. This earned Li Chengliang a high score in Wei Guangde's mind.

He's good at interpersonal relationships and capable at his job, so it's no surprise that he's given important responsibilities.

Although these businesses are taboo, they are at least under his control.

If he didn't do it, and those shameless traitors in Shanxi did it, that would be the biggest threat to the Ming Dynasty.

Now, the trade routes in Zhangjiakou have been transferred to the Embroidered Uniform Guard.

As long as the imperial power effectively controls the Embroidered Uniform Guard, it can not only help them collect intelligence on the grasslands, but also make a fortune for their organization.

For an organization like the Embroidered Uniform Guard, in addition to the official title granted by the emperor, money was also indispensable.

People go to the grasslands because they're hoping for a high reward.

Once the job is done and the task is completed, you can go back to your hometown and live the life of a wealthy man.

The rule that the emperor would not starve his soldiers was perfectly exemplified by the Embroidered Uniform Guard.

"As for Liaodong, all they want is for things to be handled properly."

Wei Guangde frowned and said something.

In reality, the Jurchens sold ginseng to the merchants at a fair price, and Wei Guangde would inform Qi Jiguang not to touch those tribes, as he still needed them to go up the mountain to collect ginseng.

"By transferring half of the business to the Liaodong General's Office, no matter who that position is held by, whether it's Qi Jiguang or someone else, it shouldn't cut off their source of income."

After thinking for a while, Wei Guangde put forward his own idea.

It's impossible to completely remove him from the business, but we can transfer the business from him to the local area and let someone else bear the main risk.

The Jurchens have not betrayed the Ming Dynasty and have provided security protection; to escalate this to the point of treason is to label them as such.

But if it's controllable locally, then it's business between the local people and the barbarians.

"Keep an eye on things in Myanmar. Find a way to legally transfer the mines to the Sihai and Huitong Chambers of Commerce."

"Send it to several more companies. If the Grassland Chamber of Commerce wants to get involved in the mining business, give them a share too."

The chambers of commerce that Wei Guangde arranged were all closely tied to nobles and powerful officials.

Once the mines were allocated to them, others naturally dared not investigate.

In this way, everything that happened before the transfer can be perfectly covered up.

"I understand, but it's about General Qi's side."

Master Zhang said in a low voice.

“I will write the letter myself, and you can take it to him to discuss it.”

Wei Guangde said, "Tell him that the Jurchen tribes loyal to the Ming Dynasty can be given a larger share." (End of Chapter)