I traveled with them to the Northern Song Dynasty

Chapter 51: The Money-Making King Shen
...

During the negotiations the next day, the Zhao Song Dynasty's negotiating representative, Li Qingchen, the Secretary of the Central Secretariat, tricked the country into revealing that the previous supreme ruler of Western Xia, Empress Dowager Xiaoliang, was indeed dead.

Then it is very likely that Xixia is now in the process of purging the foreign relatives who previously held power in Xixia. Its political situation should be extremely unstable, so it is eager to seek peace.

The Zhao Song Dynasty had already won a great victory in the Battle of Pingxia City. Taking advantage of the victory, it promoted the "Shaosheng Frontier Opening" and built many cities. Now it has completely controlled the Hengshan-Tiandu Mountain line. The Western Xia lost its springboard for invasion to the south, and the Song army gained the advantage on the battlefield.

On the other hand, the economy of Western Xia was on the verge of collapse due to years of war, and now the Zhao Song Dynasty had the important bargaining chip of the Western Xia civil strife.

Li Qingchen and others immediately used thunder-like means to break down the psychological defenses of the Western Xia delegation, and completely destroyed the Western Xia's negotiation space from the military, political, and economic dimensions.

For a while, the Zhao Song Dynasty pursued the enemy relentlessly and seemed to be on the verge of achieving a complete victory in the peace talks.

Having the desire to be a thief but not the courage to be one, and going with the flow whether it is favorable or unfavorable, was a common problem among many rulers and ministers in the Song Dynasty.

Seeing that the situation of Western Xia was so critical, voices immediately emerged within the Zhao Song Dynasty: "Take advantage of this God-given opportunity of Western Xia's declining national strength and internal turmoil to launch a full-scale attack on Xia and recover all the territories occupied by Western Xia."

Emperor Zhao Xu and his minister Zhang Dun were quite interested in this.

However, the Old Party firmly opposed the Zhao Song Dynasty's war against Western Xia again.

Not only did the Old Party oppose it, but even a group of New Party members led by Zeng Bu opposed the Zhao Song Dynasty's war against Western Xia again.

The reason they gave was simple and convincing - no money.

Seeing that the opportunity to recover the homeland and avenge the previous humiliation had appeared, but because the court had no money, the Zhao Song Dynasty had to give up this God-given opportunity. Zhao Xu was extremely sad and angry!
Zhang Dun also racked his brains to get some money to deal a final blow to Western Xia and completely win the war.

But the Zhao Song Dynasty was now at the end of its strength and could not afford the money at all.

Zhao Xu summoned the ministers to the Wende Hall to discuss how to seize the opportunity of Xixia's extreme weakness at this time to gain the greatest benefits for the Zhao Song Dynasty.

In fact, Zhao Xu just wanted his ministers to offer strategies for making money.

When it comes to making money, the first person Zhao Xu thinks of is Zhao Ya, who is the best at making money.

Therefore, Zhao Xu specially asked all the princes to attend the meeting, hoping that Zhao Ya could give him an idea on how to get money quickly.

In this way, Zhao Ya and five other princes also came to court.

As soon as the court meeting began, Zhao Ya and the other five all looked at their noses, their noses at their mouths, their mouths at their hearts, and their hearts at their freedom, listening to the ministers discussing matters without saying a word.

At first, both the ministers of the New Party and the ministers of the Old Party could express their opinions and say something useful.

But soon, the old party members, led by Han Zhongyan, urged that stability was the most important thing and that war should not be started lightly.
A section of the New Party, led by Zeng Bu, calmly analyzed the empty treasury and worried about the rapid depletion of national strength caused by the war;
The other group, led by Zhang Dun and Cai Bian, advocated pursuing the Western Xia, eliminating this serious threat once and for all, and recovering the lost homeland of the Zhao Song Dynasty.

Gradually, the discussion turned into an argument.

Soon, the ministers each held their own opinions, arguing fiercely and refusing to give in to each other.

Zhao Xu sat upright on the dragon throne, his eyes as sharp as torches as he scanned the ministers who were arguing below.

He felt both anxious and expectant - anxious because the treasury was empty and could hardly support the war against Western Xia; expectant that in this dispute, he could find a good strategy that could both resolve the financial crisis and take the opportunity to eliminate Western Xia.

However, his ministers only quarreled and did not solve the problem at all.

Zhao Xu glanced at the ministers one by one and couldn't help but wonder: "Is there no one in the great Song Dynasty who can share my worries?"

Soon, Zhao Xu swept across a group of princes.

Zhao Xu's gaze instantly focused on Zhao Ya.

However, Zhao Xu was also a man of honor, so he couldn't say directly to Zhao Ya: "Prince Shen, can you think of a way to help me get some money? I want to seize this God-given opportunity to destroy Xixia."

You know, in the past two days, because Zhao Xu made Liu Qingjing the queen, the relationship between Zhao Xu and Zhao Ya has been very tense.

Also, last night, because of a misunderstanding by Zhao Xu, Zhao Ya asked for a meeting, but Zhao Xu did not meet Zhao Ya, which almost delayed the important event of the Zhao Song Dynasty.

All these made Zhao Xu feel a little embarrassed to ask Zhao Ya for help.

But on the other hand, all the civil and military officials in the court were not up to the task and could not provide the solution that Zhao Xu wanted.

Zhao Xu had no choice but to risk his dignity and address the princes, "The Song Dynasty is the Zhao family's kingdom and people. You princes and the Song Dynasty share weal and woe, and we are dependent on each other for good and bad. The court is in trouble now and urgently needs good advice. Do you have any suggestions?"

As soon as Zhao Xu said this, all the ministers who were arguing with each other in the red face stopped and looked at the princes.

Ministers such as Zhang Dun set their sights directly on Zhao Ya.

Only Cai Bian, who had been away from the capital for some time, was puzzled. Why would Zhao Xu seek advice from these princes under the age of twenty? Also, why didn't Zhang Dun and his men use the rule that royal family members were not allowed to interfere in government affairs to restrict these princes?

Faced with Zhao Xu's inquiring gaze, Zhao Ya did not choose to stand up immediately, but continued to keep his head down and remain silent - he was not the eldest prince, nor the youngest prince. Zhao Xu was asking all the princes, so how could he be the first to speak?
Seeing that Zhao Ya was still in control, a flash of displeasure flashed across Zhao Xu's eyes.

But in order to solve the problem, Zhao Xu suppressed his displeasure and first asked Zhao Qi: "King Shen, do you have any good ideas?"

Zhao Qi bowed hurriedly and said, "I think what Minister Han and Minister Zeng said is more reliable."

What Zhao Qi said was just as Zhao Xu and other ministers had expected. It was nothing new, nothing worth learning, and it was of no help.

Zhao Xu had no hope for the conservative Zhao Qi, so he easily let him go and then looked at Zhao Ji: "Does Prince Duan have any good ideas?"

Zhao Ji straightened his clothes and bowed, saying, "I believe we can deploy troops on the border, use war to force peace, and force Xixia to make major concessions in the peace treaty."

Zhao Xu thought to himself, "Sly guy. He advocates both war and peace. He doesn't want to offend either side, but he wants both. How can there be so many good things in the world that can be achieved with both?"

Ministers such as Zhang Dun were also dissatisfied with Zhao Ji's answer.

Zhang Dun, in particular, thought to himself, "Prince Duan is frivolous, irresponsible, and lacks righteousness. He only likes to show off his cleverness. How difficult it is for him to be with you!"

Zhang Dun looked at the remaining Zhao Ya, Zhao Si and Zhao Si.

It was seen that Zhao Si and Zhao Si were facing a formidable enemy and were obviously organizing their words, while only Zhao Ya remained calm.

Zhang Dun thought to himself, "I wonder if Prince Shen can surprise me?"

At this time, Zhao Xu had also finished his formalities. He looked at Zhao Ya with anticipation and asked, "Prince Shen, do you have any good advice?"

Cai Bian noticed that when it was Zhao Ya's turn to make his response, the ministers around him, such as Zhang Dun, all wore solemn expressions, unlike when Zhao Qi and Zhao Ji had made their responses. Zhao Xu, who sat above him, was even more expectant, no longer as nonchalant as before.

Cai Bian looked at Zhao Ya in confusion: "Prince Shen can solve the problems that we, the prime ministers, cannot solve?" Every one of the ministers who can get here is a smart one among the smart ones. They are usually more sensitive to the slightest movement in the court than the old woman Wang at the village head.

Seeing that Zhao Xu and a group of big men were all looking seriously at Zhao Ya, who usually kept a low profile, how could they not guess that something was wrong with Zhao Ya?
So, for a moment, everyone in the Wende Hall focused their attention on Zhao Ya, including several princes.

Zhao Qi, Zhao Si, and Zhao Si, who had been playing by themselves recently and hadn't paid much attention to Zhao Ya, were somewhat stunned! They didn't understand why Zhao Xu and the others suddenly paid so much attention to Zhao Ya?
Zhao Ji, who had already realized the change in Zhao Ya's status, looked gloomy and uncertain. He glanced at Zhao Ya, who attracted everyone's attention, and became suspicious:
"Since when has Prince Xin become so popular?"

"What merits and abilities has he possessed that the Pope and the other ministers have such high expectations of him?"

"Could it be that he really has a plan to save the country that even the prime ministers can't come up with?"

"Did he trick me during the last Cuju game? He's not a simple-minded person, but a man of deep scheming."

"..."

It was not until he saw Zhao Xu sitting high on the dragon throne, staring intently at Zhao Ya, and thought of Zhao Xu already having a biological son, that Zhao Ji chuckled to himself: "No matter how happy Zhao Ya dances, isn't he just a prince with no control over his own life? How is he any different from me?"

Hearing Zhao Xu's question, Zhao Ya stepped out and bowed, saying, "I don't have a good plan either...but I have a solution that will only treat the symptoms and not the root cause."

Zhao Xu's eyes lit up and he said, "Present it quickly!"

Zhang Dun and other ministers were also excited and wanted to see whether Zhao Ya was really capable or if there was an expert guiding him behind the scenes.

Zhao Ji was unwilling to admit defeat and thought to himself, "I want to see what insights you have!!"

All the ministers around looked at Zhao Ya.

Zhao Ya said as if no one was around, "We can take inventory of the treasuries of the various departments in the imperial city and pack up the accumulated old materials and sell them at a price..."

This was not an approach originally initiated by Zhao Ya, but an innovative financial measure taken by Cai Jing to solve the court's debt problem after Zhao Ji ascended the throne.

When Zhao Ji first ascended the throne, the Northern Song Dynasty was under tremendous financial pressure due to long-term foreign wars, such as the war against Western Xia, and extravagant consumption.

According to records, a group of wealthy businessmen who held "official banknotes" (debt certificates issued by the court) demanded debts from the court, with the total amount reaching 3.7 million strings of cash.

However, the treasury was empty and Zhao Ji was unable to repay the debt, so the debt problem became an urgent problem.

Cai Jing reported truthfully to Zhao Ji.

Zhao Ji looked embarrassed: "This is an insult to the country! What can I do?"

Cai Jing replied confidently, "I'll try it."

Cai Jing's response strategy at the time was to turn waste into treasure.

Faced with this dilemma, Cai Jing proposed an ingenious solution: check the backlog of materials in the treasuries of various departments in the imperial city and use them to pay off debts.

The specific steps are:

Cai Jing ordered an inventory of the treasury and discovered a large number of long-stored and nearly abandoned items, including:
Curtain: also known as tent or curtain fabric.

Lacquerware and ivory tablets: that is, ivory products.

Brocade, fine-colored spices: that is, high-end spices and medicinal materials.

Most of these materials were stored by the royal family or government in the early years, but were left idle due to outdated styles or reduced demand.

Cai Jing evaluated these materials according to market prices, packaged them and converted them into equivalent amounts to compensate merchants holding official banknotes.

Although merchants initially expressed dissatisfaction with accepting these useless items, Cai Jing guided them through policies and allowed them to resell these materials on the market for profit.

After being forced to accept, the merchants tried to put the supplies on the market. They unexpectedly discovered that some of the goods, such as brocade and spices, were sold at high prices due to their scarcity, and they made a lot of profit.

In less than half a year, the Northern Song Dynasty court had fully paid off its debts through this method without using any cash from the national treasury.

Moreover, the Northern Song Dynasty court at that time also received a considerable amount of working capital.

Cai Jing transferred the court's financial pressure to the market by "paying debts with goods" and used merchant channels to realize the monetization of goods.

This approach not only alleviated the urgent needs of the Zhao Song court at the time, but also avoided public resentment caused by tax increases or excessive currency issuance.

At that time, Zhao Ji highly praised this move and even jokingly called these incomes "Cai Jing's salary."

Cai Jing used this opportunity to consolidate his power and maintain his political status by catering to Zhao Ji's preferences, such as large-scale construction projects and presenting him with calligraphy, paintings and antiques.

Cai Jing's strategy of using treasury reserves to repay debts is essentially a typical example of responding to crises through non-traditional fiscal means.

Zhao Ya didn't understand economics, but when he was writing the novel, he specifically looked up Cai Jing's trick, so he could explain it clearly.

Zhao Xu's eyes lit up when he heard this.

Zhang Dun and other ministers secretly slapped their thighs: "Too good of a trick!"

Many ministers, knowing the value of this plan, were deeply troubled. They all thought, "If I had come up with this plan, I would have been promoted and rich in no time!"

Seeing the expressions of the prime ministers and ministers, Zhao Ji knew that Zhao Ya's trick should work.

Zhao Ji thought somewhat unwillingly, "How can I, a prince, know what is hidden in the treasuries of the imperial city?"

Cai Jing, who was in the corner, looked at Zhao Ya and thought, "I didn't expect that Prince Shen also thought of this plan."

Although Zhao Xu felt that this strategy should be feasible, he still confirmed with Zhao Ya: "Can this strategy really raise the military funds for our Song Dynasty to pacify the Western Xia?"

Zhao Ya was also afraid of being embarrassed, so he bought an insurance policy: "I recommend someone. If Your Majesty gives him power, if he fails to make up for the shortfall of three to five million strings of cash within six months, I will make up for it with my own strength."

Zhao Xu didn't expect that Zhao Ya would dare to make such a promise.

This money was too important to Zhao Xu, so even though Zhao Ya had already crossed the red line that royal family members were not allowed to interfere in government affairs, he still couldn't wait to ask, "Who does Prince Shen recommend?"

Zhao Ya said in a deep voice: "Hanlin scholar Cai Jing..."

……

(End of this chapter)