Chongzhen revived the Ming Dynasty

Yu Huang, whom Yang Jingchen mentioned, is busy cooperating with the Gold Reserve Council to collect gold in order to issue vouchers.

As the district head of Beijing, he strongly supported issuing paper money, as it would make tax collection more convenient.

According to his observations, although the merchants and residents of the capital had complaints about the confiscation of gold, they did not fiercely oppose it.

After all, gold was not currency in the Ming Dynasty; it was merely a special commodity.

In other words, after the metal exchange was opened, gold received more attention.

However, very few families still own more than ten kilograms of gold.

In comparison, the regulation requiring silver exceeding ten thousand taels to be deposited in banks attracted more attention, which drew opposition from many wealthy households:
"District Chief Yu, we accept the confiscation of gold, but is there any need to confiscate the silver?"

"We need silver to do business here, how can ten thousand taels be enough?"

This was a wealthy merchant who paid a lot of taxes and donated to the government, so he had some influence over Yu Huang.

In response to his and others' complaints, Yu Huang said:
"The silver will not be confiscated; you can simply deposit it in the bank."

"This way, the bank will have a record of the transaction, making it easier to pay taxes."

"Don't worry, the imperial court will not confiscate your silver, nor will it force you to deposit it in any particular bank. Any legitimate financial institution will do."

These words reassured some businessmen.

They knew that the imperial court didn't treat silver as tightly as gold, and there was still a chance to get the silver back.

However, out of a desire to keep their wealth hidden, many people remained worried, as the wealthy businessman who had just spoken said:

"District Chief Yu, we believe what you say."

"But it's never as reassuring to keep the money at home as it is to someone else."

"We'd like to jointly open a bank to deposit money. Do you think you could help us out?"

"You want to open a bank?" Yu Huang was immediately puzzled:

"Just register to open a bank; the business administration department won't stop you."

The wealthy businessman said:

"Registration alone is not enough; approval from the Federal Reserve is also required."

"Moreover, the new bank is required to pay a high reserve requirement ratio. We hope that District Chief Yu can put in a word and make an exception."

Yu Huang learned through careful investigation that, in order to regulate the financial order, the imperial court stipulated that the registration of financial institutions must go through the Financial Reserves Association.

Not only are there registered capital requirements, but a 50% deposit reserve is also required. This reserve requirement can only be reduced to 30% after the credit score is improved.

This approach is quite disadvantageous to new banks, and many people say that it is the financial association that is causing trouble and preventing new banks from joining.

A wealthy businessman from Dongcheng District wanted to jointly establish a bank, so he approached Yu Huang, hoping that this top scholar could put in a good word for them so that their bank could be established and that they could join the financial association.

Upon hearing their demands, Yu Huang initially didn't want to get involved. However, considering the upcoming leadership transition and the need to perform well, he patiently replied:
"I will ask the Financial Savings Committee about this matter and try my best to get the bank in Dongcheng District approved."

"But you must also guarantee that you will hand over any excess gold and deposit the silver in the bank."

These wealthy businessmen all said:
"Don't worry, all our gold and silver will be deposited in the bank, and we'll use the gold as collateral."

"This matter will definitely be handled perfectly, and it will help District Chief Yu get promoted."

Yu Huang smiled and politely saw them off.

After finishing his official business and returning home, he learned that Yang Jingchen and Guo Yunhou had summoned him for a meeting.

Yu Huang was puzzled, but dared not be negligent in the slightest. He hurriedly boarded a carriage and went to the Yang residence to pay his respects.
-
At this time, Yang Jingchen and Guo Yunhou were still discussing the situation in the court, especially the selection of the Grand Secretary and the Nine Ministers.

After Cheng Jiming passed the test, the next Grand Secretaries of the Cabinet were basically decided.

The reorganization of the Assistant Grand Secretaries and the Nine Ministers attracted even more attention.

Although Lin Yuji was ineligible for a cabinet position due to the rule against members of the same hometown, Yang Jingchen still felt that he should strive for a position among the Nine Ministers for him.

"Zheng Sanjun of the Donglin Party wanted to compete for the position of head of the Supreme Court and went to Beijing before the reshuffle."

"However, the Emperor has clearly decreed that officials of the Censorate and the Imperial Academy should not form factions, and the Supreme Court, which now oversees the Six Ministries, is also not allowed to employ people from factions."

"He's hopeless. Should we push Shiji forward?"

Guo Yunhou pondered for a moment, then shook his head and said:

"Although the head of the Supreme Court is one of the Nine Ministers, he ranks last among them."

"Minister Lin has done a good job in Nanjing and has been highly praised by the Emperor."

"It would be a waste of his talents to send him to the Supreme Court; he should at least strive for the position of Minister of the Six Ministries."

Furthermore, it reminded:

"Relatives of officials in the two capitals are not allowed to serve as officials in the Censorate or the Imperial Censorate."

"Although the Emperor has denied the existence of the eunuch faction, the fellow townsmen and fellow villagers of the Grand Secretaries of the Cabinet will likely be included in the recusal system."

"The scholar and Minister Lin are from the same hometown, and they should voluntarily recuse themselves from their positions in the Censorate and the Supreme Court."

Yang Jingchen frowned upon hearing this, but then his eyes lit up, thinking that this clause could be used to improve the recusal system.

However, this made it even more difficult to arrange Lin Yuji's position, and he lamented:

"The Ministers of Personnel and War are also those whom the Emperor has requested to recuse themselves from."

"Now that you and I have joined forces to control the Ministry of Personnel, the Emperor will definitely not give us the Ministry of War."

“Bi Ziyan, the Minister of Revenue, is about to be granted the title of Earl, and he is also the Director of the Finance and Economics Committee. Apart from Yuan Keli, he is the first among the Nine Ministers.”

"The Emperor values ​​capable people in the Ministry of Works. If you don't know your stuff, you might get into trouble."

"He Ruchong was sent by the Emperor to serve as the Right Vice Censor-in-Chief of the Censorate because he did not perform well in his position as the Vice Minister in charge of the Grand Works."

"Although Shiji has some talent, I'm afraid he wouldn't be able to handle the job at the Ministry of Works."

Guo Yunhou nodded, knowing that the Ministry of Works was different now.

The emperor valued craftsmen, even bestowing titles of nobility upon several of them. Without genuine skills, it would be difficult to control them.

If these dukes were to cause trouble, even the Minister of Works would likely be humiliated.

Besides, the position of Shang Zhouzuo is not so easy to replace unless he is transferred.

Therefore, the only options Lin Yuji could hope to secure were the Ministry of Rites and the Ministry of Justice.

As the top candidate for Grand Secretary of the Cabinet, the competition for the position of Minister of Rites is expected to be fierce.

Even if Lin Yuji were qualified to be a Grand Secretary, he might not be able to win this position.

Therefore, the position of Minister of Justice cannot be relinquished. If the struggle for the position of Minister of Rites fails, then the struggle for the position of Minister of Justice will be undertaken.

"Wang Yongguang is mediocre and will likely have to step down from his position as Minister of Justice."

"The problem is that this position has too little power now, not even as much as the head of the Supreme Court."

This was the view of many ministers, who believed that after the Ministry of Justice transferred its judicial powers to the Supreme Court, it had become one of the lowest-ranking government offices among the Five Courts and Six Ministries.

In particular, Wang Yongguang, as Minister of Justice, lost to Liu Qiao, the Minister of the Imperial Guard, in the struggle for the position of Director of the Public Security Commission. This further diminished the perception of the Ministry of Justice, even leading some to believe that it held less power than the Imperial Guard.

Yang Jingchen felt it was a great injustice to appoint Lin Yuji as Minister of Justice.

However, Guo Yunhou pondered the situation at court and said:

"The position of Minister of Justice is not easy to obtain." "Zheng Sanjun is not a member of the Hanlin Academy, so he cannot serve as Minister of Rites."

"He was a member of the Donglin Party and also founded the Nanlin Academy. He couldn't win over the heads of the Privy Council, the Censorate, and the Supreme Court, as well as the Ministers of Personnel and War."

"The only positions he can realistically secure are the Minister of Revenue, the Minister of Works, and the Minister of Justice. I estimate he'll be eyeing the Minister of Justice position the most."

"With the support of Chief Minister Han, Academician Cheng, and others, it won't be easy to win the position of Minister of Justice."

Yang Jingchen was speechless, realizing even more how fierce the competition for the Nine Ministers was.

Even the Minister of Justice, who held the least real power, had a formidable rival like Zheng Sanjun, let alone the other positions.

Now he only hopes that his faction will not fail in the competition for the Nine Ministers, otherwise it will be even more difficult to recruit people in the future.
-
While they were discussing it, Yu Huang arrived after being summoned.

Yang Jingchen said happily:
"Our top scholar Yu is here!"

"What are you all busy with? Why are you getting off work so late?"

Yu Huang apologized and explained:

"It's about confiscating gold and silver. Some wealthy merchants in the area want to jointly set up a bank and came to me for help."

"However, I have no dealings with the Gold Council, so I'm afraid I'll have to trouble you to step in."

Yang Jingchen was looking for someone to use, so he readily agreed to such a small matter and instructed Yu Huang:
"The person currently in charge of the Financial Reserves Committee is Tu Wenfu, the director of the Imperial Assets Committee."

"He served as the head of the Ministry of Revenue and the Ministry of Works during the Tianqi era, and he was quite capable in financial matters."

"He was in charge of this gold and silver confiscation operation. I'll introduce you to him another day."

Yu Huang was taken aback, realizing why those wealthy businessmen were seeking his help.

Because Tu Wenfu was a eunuch in the eunuch faction, and Tu Wenfu had assisted the eunuch faction in compiling the "Essential Records of Three Reigns," the wealthy merchants believed that Tu Wenfu was involved with them.

Having realized this, he felt quite saddened, knowing that he could never sever his ties with the eunuch faction in his entire life.

However, he was somewhat prepared for this.

He had previously been rejected by the Donglin Party members, so after being transferred to a post outside the capital, he chose to join Yang Jingchen.

Now that Yang Jingchen is going to introduce him to the real eunuch faction, he should be happy. However, Yu Huang feels a deep sense of regret about this—

He was a scholar who had achieved the highest rank in the imperial examinations and possessed integrity; he truly did not want to be associated with the eunuch faction.

However, Yang Jingchen was unaware of his thoughts, believing that since Yu Huang had accepted his offer, it meant he had joined his ranks. He asked Yu Huang:
"You are now a lecturer, a fifth-rank official."

"Logically, you should be qualified to serve as a Grand Secretary. Do you have any interest in this position?"

These words were quite polite, because the imperial court now implements a voluntary selection system for officials, meaning that only those who are willing will be transferred.

Even if Yang Jingchen could help Yu Huang establish himself as a Grand Secretary, it would still require his own willingness.

After the emperor put forward the theory of needs and clarified the need for respect among scholars, all those who treated scholars with courtesy and respect paid special attention to this point.

In Yang Jingchen's view, this matter was a sure thing. Anyone who knew the status of the Grand Secretary would not refuse.

However, Yu Huang was one of the people who wanted to refuse. Having served the emperor for two years, he knew what kind of officials the current emperor valued.

He knew that after the cabinet reform, the Grand Secretary was the de facto prime minister. And the prime minister had to rise from the ranks of prefectures and counties, which, according to the emperor, meant having experience governing provinces, prefectures, and counties.

Therefore, when Yu Huang was transferred to another region, he chose to become the head of Dongcheng District.

This was equivalent to the position of county magistrate in the capital, which could be held by ordinary graduates of the imperial examinations in the past.

After three years, he felt he had made great progress. His next step was to use his Hanlin academic background to take up a concurrent post as a prefectural governor, a fifth-rank official.

He said to Yang Jingchen:

"I should not refuse the honor bestowed upon me by the scholar."

"However, students lack self-discipline and find it difficult to compete for the position of Zhongshu Xueshi (a high-ranking academician).

"Compared to candidates for the position of Grand Secretary, such as Chen Changshi, the student is still far from adequate."

Chen Zizhuang's position as Chief Secretary of Dongjiang was equivalent to that of a prefect in the interior.

Moreover, those who govern a region overseas are valued even more.

As the district head, Yu Huang is no match for Chen Zizhuang.

However, there is more than one Grand Secretary, Yang Jingchen said:

"It's normal that he's not as good as Chen Zizhuang, after all, he was the first candidate for the position of Grand Secretary."

“But you can definitely compete with others, like Wen Zhenmeng, the top scholar in the previous imperial examination, whose political achievements in recent years are not as good as yours.”

Yu Huang shook his head repeatedly, indicating that he dared not compete with his senior, and reminded Yang Jingchen:
"After the emperor ascended the throne, he selected a group of officials from the Hanlin Academy to serve as the recorders of the emperor's daily life. Most of them were Jinshi (successful candidates in the highest imperial examinations) in the second year of the Tianqi reign."

"These people were qualified and had a good reputation, and many of them became candidates for Hanlin Academician."

"I was born in the year of Yichou in the fifth year of the Tianqi reign, and I am still no match for my predecessors."

Yang Jingchen was reminded of this by his words and immediately remembered it.

Considering that the emperor chose to establish the Zhongshu Jian (Director of the Secretariat) precisely in the second year of the Tianqi reign, when most Jinshi (successful candidates in the highest imperial examinations) had risen to the fifth rank, it's likely that he had planned this all along, intending to have the officials he had cultivated around him, who were also responsible for recording the emperor's daily activities, preside over the Zhongshu Jian.

Therefore, it seems that the selection of the Grand Secretaries of the Secretariat is still in the hands of the emperor. The emperor will not easily relinquish this small cabinet.

Presumably, Yu Huang had received guidance from the emperor, so Yang Jingchen abandoned the idea of ​​promoting him to the position of Grand Secretary and patiently explained:
"Even if you don't do well this time, you'll most likely be able to enter the Secretariat next time."

Where do you plan to go in the next three years? Do you have any plans?

Yu Huang breathed a sigh of relief and hurriedly stated his idea:
"The student plans to go to the Liaohetao region to serve as the prefect, and to build a commodity grain base for the capital."

"His Majesty has mentioned many times that the Northeast should be developed into a granary, and that the commercial grain produced in the Northeast should be used to reduce dependence on the Grand Canal."

The emperor did mention this matter, and Yang Jingchen was aware of it.

Currently, half of the grain transported from the south is still transported via the Grand Canal, while the other half is transported by sea.

However, maritime transport is unstable and carries the risk of being cut off.

The emperor then considered developing the Northeast into a commodity grain base by improving transportation access from the north.

However, the Northeast is bitterly cold, and the Liaohe River basin is a desolate land full of swamps. Yang Jingchen didn't understand why Yu Huang had made this choice, and frowned, saying:
"The development of the Liaohetao region cannot be accomplished in one or two years; it may take three, five, or even ten years."

"Are you going to stay there for such a long time?"

"Don't forget you were the top scholar in the fifth year of the Tianqi reign!"

It is clear that given Yu Huang's status, he should not have to do hard labor in the Liaohetao region.

But Yu Huang became more determined after hearing what he said.

He could never shake off his status as a member of the eunuch faction in the capital, and even if he were to rise in the future, people would still use this as a basis for criticism.

But going to the Liaohetao region is different. That place is harsh and cold, and any achievements there are tangible political accomplishments.

If he could develop the Liaohetao region into a granary for the capital, not only would the people of the capital be happy, but officials and wealthy people who own land in the Liaohetao region would also be delighted.

This is an important step for him to get rid of the stigma. He feels that even if it takes ten years, he must persevere.

He believes:
The emperor saw everything he did.

Once his resume is complete and his abilities are sufficient, the emperor will surely give him an important position. (End of Chapter)