Chongzhen revived the Ming Dynasty
Chapter 1140 Debt Companies and Gentry
In the end, I became the kind of person I hated!
Watching his ministers depart, Zhu Youjian sighed inwardly.
He knew that once he made this decision, countless poor people would lose their land and be forced to migrate overseas.
But if he didn't do this, he really didn't know how to deal with the drought that had lasted for more than a decade.
A number of people will have to be sacrificed in the face of the impending severe drought.
Shang Zhouzuo and others believed that the poor should be sacrificed and disaster relief should be provided by the gentry and wealthy families.
Even if Zhu Youjian had different ideas, he simply couldn't implement them. Unless he could mobilize the poor and get them to fight against the gentry—
However, this method is almost impossible to succeed in the current era.
The gentry controlled resources and power at the grassroots level, and anyone who wanted to consolidate their rule had to rely on them.
Even if the poor are mobilized to overthrow the gentry, their goal is still to become the new gentry. Few are willing to remain poor and dedicate themselves wholeheartedly to others.
The final result will likely be a massacre, with nothing changed in the end. Instead, it will lead to population loss and leave behind countless hatreds.
Therefore, Zhu Youjian had no choice but to relocate a portion of the population and rely on overseas land to support them.
He cleared out displaced people and landless poor people as bad assets, while using the land they left behind to gain the support of ministers.
To prevent local gentry from exploiting the poor without restraint, he arranged for several debt collection companies to go to Henan to handle the asset liquidation of the immigrants.
As long as there is debt or a loan from a debt company, the debt company can dispose of the family property and exchange it for overseas land.
In order to collect their debts in the long term, these debtor companies will do their best to ensure their safe relocation.
Ministers who invest in debt companies usually have some sense of decency and won't go to extremes.
What Zhu Youjian needed to do was raise this bottom line and prevent immigrants from becoming slaves to debt companies.
He summoned Qian Qianyi and Qu Shisi, specifically informing them of this matter and giving them instructions:
"The debt company also has State-owned Assets Supervision and Administration Commission (SASAC) as a shareholder, and Shaofusi has supervisory power over it."
"We need to keep a close eye on their compliance with the imperial laws and formulate regulations specifically for debt-financed companies."
"The Datong Academy should send out Confucian scholars with the ideal of Datong to ensure that the regulations formulated will contribute to Datong and a well-off society."
"It would be best to establish a branch of the Datong Association in Henan to set an example for other places."
"The Great Harmony Society should not bury itself in theory, but put theory into practice."
This aligns with the principles of practical learning, and Qian Qianyi nodded repeatedly. Qu Shisi also indicated that he would do a good job of supervision.
After the two left the palace gates, Qu Shisi asked, puzzled:
"Since His Majesty doesn't trust the debt companies, why did he allow them to get involved?"
"Why use private companies when local governments can handle it?"
Qian Qianyi was initially puzzled, but now he understands and said:
"The Emperor's focus on abstract matters is just a way to find someone to take the blame, and the use of debt companies is also a way to find someone to take the blame."
"If the debt company doesn't perform well or incites public anger, then send people to investigate, and at worst shut it down."
"In this way, the people vented their grievances, and the court achieved its goal of relocating the poor and quelling any potential unrest."
"These debt-ridden companies claim to have some power, but they're actually doing the dirty work."
"Even if problems arise, it won't damage the reputation of the imperial court; the people will only target them."
This made Qu Shisi suddenly realize, and he understood:
"So, students only need to be supervised according to the law."
"So that when they have problems, it won't involve the Shaofu Temple."
Qian Qianyi said with a smile:
"You can be a little more lenient in the early stages, and make things convenient for others."
"If immigrants cause trouble later, we can be more proactive in punishing debtor companies or even shutting them down."
"You can arrange for more reporters from the Datong Daily to expose and report the matter when it comes to light."
"Our Datong Association must establish itself as a champion of the people and help the poor seek justice!"
This method was praised as brilliant by Qu Shisi.
Having been members of the Donglin Party, they naturally knew how the Donglin Party rose to power.
The current goal is to establish the reputation of the Datong Society and allow it to reclaim its former status as a voice for the people.
The two had already made their plans and both felt that they should make a name for themselves in this matter.
At the same time, we should also make money. We can arrange for some members of the Datong Society to take up positions in the State-owned Assets Supervision and Administration Commission to supervise the debt companies and collect profits.
If a debt-financed company performs well, it can be acquired as a Confucian merchant and incorporated into the Datong Academy's assets.
The emperor allowed the Datong Academy to manage its properties as part of the inner court's assets.
They naturally had to achieve results so that other inner court institutions wouldn't underestimate them.
-
While Qian Qianyi and his students were working diligently, Shang Zhouzuo and others were also busy.
His main purpose in proposing the establishment of the river garrison was to expand the power of the Ministry of Works, but it also had the implication of speaking up for the gentry.
However, what he did not expect was that the gentry would only be second in this grand feast, and the emperor gave the power to dispose of the immigrants' property to the debt company.
Many of these companies had government officials as shareholders, and many wealthy businessmen also chose to invest in them.
Previously, it was difficult for them to acquire land and obtain land profits in other places. Now, they can intervene with their enormous capital, forcing gentry in other places to go through them when purchasing land.
It can be said that wealthy businessmen from Jiangsu, Zhejiang, Shanxi and other places are the most supportive of debt-ridden companies.
After obtaining privileges through debt companies, they were able to fully leverage their capital advantages to extract profits from all over the Ming Dynasty.
Having already gained experience in Shuntian Prefecture, they quickly organized a team to travel to Henan. They visited impoverished households, buying up land from those owning less than two mu (approximately 0.33 acres).
Under the imperial court's policies on relocating displaced people and reducing land shortages, these poor people had to relocate regardless of whether they sold their land to gentry or debt companies.
These debt-ridden companies, in particular, pounce on poor people like hungry wolves as soon as they discover they have debts.
After learning that some people owed high-interest loans, they said they could resolve the issue, as long as they followed the arrangements of the debt company.
The local gentry in Henan naturally disagreed, as they wanted to acquire even more land!
Soon, a conflict broke out between the debtor company and the local gentry.
After these companies revealed the ministers who were backing them, the local gentry had no choice but to seek redress from the ministers who were from Henan.
Yuan Keli, who was visiting his hometown after reviewing military exercises in Kaifeng, was approached by these people. Out of consideration for his fellow villagers, he had no choice but to meet with them.
Tang Qizu, a local gentry member from Suizhou, was nominated:
"Lord Yuan, you hold a high-ranking official position in the court."
"Could you speak up for our fellow villagers and prevent outsiders from taking over our land?"
Yuan Keli frowned upon hearing this and said:
What is an outsider?
What does it mean to seize our land?
"Your land has been seized? Why don't you go to the authorities to file a complaint?"
"If the government does not take action, I will certainly submit a memorial to the imperial court."
Tang Qizu hesitated for a moment, of course he couldn't say that it wasn't his own land that was taken away, but rather the poor people's land that he had his eye on, which was taken away by the debt company.
He said:
“I had already agreed with Wang Er from the Wang family that his family’s 1.8 mu of poor land would be used to pay off the debt.”
"Now that the debt-ridden company has come along, they've taken over the debt without a word and want to sell that land to me at a high price." "Isn't this just abusing power to buy low and sell high?"
"If everyone acted like them, how would land be bought and sold in Suizhou?"
Hearing this, the other local gentry also began to complain.
They mostly made loans to the poor, then waited for them to default on their debts so they could seize their land.
Now, with various debt-collecting companies getting involved, their method has suddenly become unsustainable.
In order to avoid being exploited by debt companies in the future, they searched everywhere for people to speak in court.
As a native of Suizhou, Yuan Keli should, in principle, stand on the side of his fellow villagers.
However, he really disapproved of what these people were doing.
In particular, he knew that immigration was a major policy of the imperial court and a disaster relief measure that the emperor attached great importance to.
Although he disagreed with using debt-financed corporations to force emigration, he was now forced to defend the emperor:
"You all know that Henan is going to experience a drought, right?"
"Land in Henan is worthless now, so it's better to buy overseas land for reclamation."
It details the imperial court's overseas reclamation policy and encourages people to go overseas.
The local gentry had heard the rumor, but most of them did not believe it.
Henan has suffered from disasters in recent years, but they have all passed quickly.
They do not believe in a major disaster that lasts for many years.
These people were confident that they had family wealth and that as long as they survived the years of famine, they would be able to acquire more land.
Tang Qizu Dao:
Whether there will be a disaster is a matter for the future.
"Besides, isn't the imperial court going to create high-standard farmland?"
"If we acquire more land and connect it into one area, we can build water conservancy projects and turn dry land into high-standard farmland that is guaranteed against drought and flood."
"This is still considered meritorious service for the imperial court! Officials will also be rewarded."
As they spoke, they even asked the officials of Suizhou to speak on their behalf, indicating that they were implementing the imperial court's policies.
The officials of Suizhou were familiar with them, and since the amount of high-standard farmland was indeed related to their political achievements, these people were on the side of the Suizhou gentry and did not want the debt company sent by the imperial court to get involved.
But Yuan Keli ignored them and said:
"Immigrant reclamation is a major policy promoted by the imperial court."
"Even the princes in Henan have almost all been relocated."
"Why is this? We're afraid that if there are too many disaster victims, they'll rush into the Prince's Palace and loot the grain."
"Even the Emperor is so worried about this, where do you get your confidence from?"
“If anyone really wants to buy land, my Yuan family’s land can be sold to you.”
“Apart from the thousand mu of sacrificial land reserved for the ancestral graves, the rest of the land can be sold.”
They offered up their own land to support the government's measures.
When the local gentry saw that Yuan Keli was going to sell the land, they looked at each other in bewilderment.
This is a real bet, a concrete action to support the court's judgment.
Does this mean that Henan will really suffer from drought in the future, and the land will become worthless?
Some people's minds have already shifted, and other gentry who are still attached to the land can no longer press Yuan Keli's actions.
We can't really buy the Yuan family's land, can we? That would be a huge offense to this minister.
Ultimately, these people returned empty-handed and had to find other ways to deal with the debtor company.
After seeing these people off, Yuan Keli sighed deeply. It was for the sake of these gentry, and also for the sake of the imperial court.
He hadn't expected so many things to happen in just two months since he left the court.
Debt corporations sound appealing, and currently appear to benefit the poor, giving them an alternative to the gentry.
However, such companies rely on the public and gentry for their profits, which will inevitably cause a lot of trouble in the future.
What was the emperor's purpose in establishing such a company that only cared about profit and not about morality?
Why didn't the officials in the court stop him and let the emperor act so recklessly?
"We still need to invite Liu Zongzhou back to court!"
"The court really can't function without him."
"If the emperor were to abandon his reputation for benevolence and righteousness, how much suffering would the people of the world endure?"
Yuan Keli sighed, intending to submit a memorial requesting the recall of Liu Zongzhou.
With this old scholar who believed in benevolence and righteousness watching over him, the emperor was somewhat more cautious in his actions.
At the same time, he also felt that it was time for him to return to the imperial court.
The leadership transition is over, and I no longer need to hide at home to avoid suspicion.
Looking at his hometown, which he hadn't visited in many years and had only stayed for a month this time, Yuan Keli sighed, knowing that he would probably not have the chance to come back after returning to Beijing this time.
When the Yuan family went overseas to establish their own vassal states, their only connection to this place was their ancestral graves.
This made him realize how quickly things had changed, and the Yuan family had also been drawn into it.
-
People on both sides of the Yellow River were also caught up in the situation.
After the imperial court decided to establish garrisons along the Yellow River and to take over land that frequently suffered from disasters as government land, the nature of the land here changed dramatically.
The land of the garrison naturally belonged to the government, and the local farmland in the areas that were incorporated into the garrison had to be taken over.
Sun Chengzong had extensive experience in overseeing the conversion of counties into garrisons in Shaanxi.
After ensuring that 20 to 100 mu of land owned by permanent residents could be converted into permanent land, most people settled down.
They were considered both military and civilian households in the garrison, and only needed to serve in the military after reaching adulthood; otherwise, nothing changed.
The poor had no choice but to either become military households in the garrisons and be allocated land, or be forcibly relocated overseas.
Wealthy families, after surrendering their land, could potentially become hereditary soldiers or even obtain hereditary official positions.
Some wealthy families made this choice, but many more were unwilling to join the military and chose to migrate elsewhere.
Some people with permanent property also migrated to neighboring prefectures and counties. The imperial court would exchange some of the government-owned land in these areas for them.
Suizhou was like that; some people from other places poured in and were settled there by the imperial court.
Although they received some government-owned land as compensation, they did not feel it was enough.
The debtor company acquired the land and then sold it to them at a high price.
Faced with competition from wealthy out-of-towners, some local gentry, such as Tang Qizu, chose to give up, while others resorted to underhanded tactics.
The struggle between them quickly escalated, splitting them into locals and outsiders.
In order to establish themselves in new places, many out-of-town gentry chose to cooperate with debt companies, or even become their partners.
Debt-ridden companies, not content with forcibly acquiring land from the poor, also arranged for people to specifically deal with usurious loans.
They became the biggest enemies of the moneylenders, disrupting many of their lending and land-buying cycles.
The order in the countryside of the Ming Dynasty was reshaped in this process. This caused resentment among some gentry, but also brought new vitality. (End of Chapter)
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