The Fierce Teacher of Zhenguan: Starting with Teaching the Crown Prince to Make a Comeback

Chapter 109 may well find their own "anchor".

He paused briefly to ensure the prince's attention was fully focused before continuing his in-depth analysis.

“First of all, what Minister Changsun said about ‘not engaging in commerce’ refers to the Crown Prince personally engaging in lowly trades and competing with the people for profit, which would damage the dignity and prestige of the state. What I am planning for Your Highness is absolutely not the sale of salt.”

Li Chengqian frowned slightly: "Then this snowflake salt..."

"reward."

Li Yichen uttered two words decisively.

"Your Highness should immediately distribute the first batch of Snowflake Salt produced through the Eastern Palace as a reward to the Eastern Palace officials, close guards, and even some neutral or wooable high-ranking officials in the court."

A glint of light flashed in his eyes.

"Firstly, it demonstrates His Highness's benevolence and wins over the hearts of the people."

"Secondly, and most importantly, let the people of the court and the public witness and taste this snowflake salt, which far surpasses the tribute salt!"

"Everyone must know that His Highness the Crown Prince possesses such an auspicious divine object! Its rarity and purity are unparalleled in the world."

“However,” Li Yichen’s tone suddenly turned sharp, carrying an undeniable determination.

"No matter who it is or what the reason is, if His Highness tentatively inquires or requests to buy this salt, His Highness must firmly refuse! The attitude must be resolute, and one must even show anger at such behavior that treats His Highness's gift as a commercial transaction."

"Your Highness must repeatedly emphasize that this is a secret recipe of the Crown Prince's Palace, not for profit, and absolutely not to be sold! Not even the slightest possibility of it entering the market can be allowed!"

Li Chengqian seemed to understand something.

"Yichen, do you mean... to only display it, not sell it? To let everyone see it, but not obtain it? In this way... to raise the value of this item, and... my mystery and authority?"

"Your Highness is wise!" Li Yichen nodded.

"Things are valued for their rarity, especially treasures like these that have never been seen before."

"When everyone knows that His Highness possesses it, yet no one can obtain it, what it represents is not merely its intrinsic value, but also a symbol of privilege and favor."

"It will become the most direct and impactful manifestation of His Highness's credibility."

"People might wonder, what unfathomable strength and resources lie behind the Crown Prince who possesses such a divine object?"

He successfully shifted the prince's thinking from making money by selling salt to a higher dimension of building trust.

"As for the second point, it is forbidden to borrow money from merchants in the name of the crown prince."

Li Yichen then shifted the focus to another crucial point.

"The bonds issued by His Highness are completely different from ordinary loans."

“Ordinary loans are loans made by the Crown Prince from specific wealthy merchants, using future tax revenue or the prince’s private treasury as collateral. In essence, they are debt relationships.”

"It is because His Highness needs something from others, and is easily criticized for exploitation and competing with the people for profit. Furthermore, it ties the Crown Prince's credibility to individuals or a few families, which is extremely risky."

"These bonds are not for the Crown Prince's private use, but for the national policy of 'Western Continent Development'! Your Highness is not the borrower, but the initiator and overseer of this great undertaking that benefits the country and its people!"

"Your Highness should immediately select the most important aspects of the development plan for Xizhou, including its long-term vision and the amount of funds and provisions required, and formally announce it to the world in the name of the Crown Prince!"

"We must not only inform the court officials, but also the merchants, wealthy people, and ambitious individuals in Chang'an, Luoyang, and even all the states under heaven!"

"This is a magnificent undertaking that will consolidate the borders, manage the western regions, and benefit future generations!"

Li Chengqian was deeply moved, as if he could already see the proclamation spreading throughout the world.

"After the announcement," Li Yichen continued to outline the blueprint.

"It means issuing bonds. These bonds are not loan certificates, but rather 'investment certificates' for the 'joint construction of Xizhou'!"

"Your Highness is not appealing to the merchants who have lent money to the Crown Prince, but rather inviting people of insight from all over the world to invest their surplus wealth in this cause that will benefit the present and future generations!"

"We need to clearly inform everyone that this bond has a two-year term and the annual interest rate needs to be carefully calculated to be both attractive and not too high."

"Two years from now, you can redeem the principal and interest with this bond. Moreover," Li Yichen emphasized.

"It must be clearly stated that this bond will not become invalid after two years. Holders can choose to redeem it or continue to hold it. More importantly, we allow and encourage the free transfer and circulation of bonds among merchants and private individuals!"

A bright light shone in Li Chengqian's eyes.

"In this way, bondholders who urgently need money can resell their bonds without having to wait two years! The bonds themselves become tradable! Their liquidity increases significantly, and there will inevitably be more buyers!"

"Exactly! Because this bond is negotiable, inheritable, and liquid, it is no longer a simple IOU, but a...asset!"

Li Yichen used a word that Li Chengqian could understand.

"What it is anchored behind is the future benefits of the development of Xizhou, the stability of the empire's borders, and Your Highness's unwavering trust and the Snowflake Salt, which is known to be precious yet sought after by all, as an implicit guarantee!"

"Buying bonds is not lending to the Crown Prince, but investing in the future of the Tang Dynasty! It is a patriotic act and a wise choice!"

"At that time, private funds will pour in, so why worry about the amount of 150,000 strings of cash?"

Li Yichen concluded.

"This method not only avoids the stigma of lending and doing business, but also places His Highness in a lofty position of raising funds for the country and overseeing the overall situation. It brings both fame and fortune, so why not do it?"

Li Chengqian suddenly felt enlightened, all the pent-up emotions in his heart dissipated, and he clapped his hands and laughed.

"Excellent! Excellent analysis! Salt is neither a commodity nor a loan! Yichen, your analysis is like clearing away the clouds to reveal the sun! I know what to do! I will now arrange the distribution of salt and the drafting of the proclamation!"

His confidence soared, and he felt as if a broad and promising road was unfolding beneath his feet.

The Eastern Palace of the Tang Dynasty, as a miniature court, possessed certain administrative powers.

The Crown Prince's overall command of affairs in Xizhou was granted by the Emperor himself, giving it legal legitimacy.

Issuing proclamations in the name of the Crown Prince to promote policies that benefit the country is within the scope of the Crown Prince's duties and does not constitute an overstepping of his authority.

Issuing bonds, ostensibly to raise funds for "national projects" rather than for the Crown Prince's own borrowing, cleverly circumvented accusations of "the Crown Prince borrowing money."

Rewards were a regular power of the monarch and the crown prince, and giving salt as a reward was in accordance with etiquette.

By resolutely refusing to sell, the charge of profiting at the expense of the people is completely absolved.

As long as the operation is open and transparent, the bond terms are clear, and the repayment is timely, all of this is within the rules, using the Crown Prince's credit and influence to conduct an innovative financing for the imperial court's projects.

Even if an imperial censor wanted to impeach someone, it would be difficult to find concrete evidence of wrongdoing, and they might instead be accused of "obstructing national policy."

Li Yichen left Xiande Hall and returned to his small but quiet study room.

The door closed, shutting out the noise of the outside world. The composure and confidence on his face gradually faded, replaced by a deep contemplation.

The crown prince is growing in the direction he guided, even faster than he expected.

Li Chengqian began to understand how to use the rules, how to package his intentions, and how to be patient and strategic.

This is certainly a good thing, a necessary condition for changing its fate.

But Li Yichen dared not let his guard down for a moment.

He sat at his desk, gazing at the deep twilight outside the window, his mind churning with thoughts.

The core ideas behind his proposed solutions, whether "bonds" or "credit anchoring," were not so complex that they were incomprehensible to the ancients.

Anyone who is observant, especially those seasoned veterans who have been navigating power struggles for decades, can quickly figure out the key to the Crown Prince's actions after learning about them.

Perhaps they cannot immediately replicate a specific anchor like "Snowflake Salt".

However, once concepts like "credit certificates" and "project financing" are understood, given time, those powerful families with their resources and wisdom may well find their own "anchors."

(End of this chapter)