"Pang Shangpeng's salt law was implemented in the third year of the Longqing reign, stabilized in the fourth year, and fully implemented in the fifth year."

Zhu Dijun re-printed the organizational chart of the Lianghuai Salt Transport Bureau onto the screen. He had used this chart before, but this time there were a few more red arrows.

"The salt permits from Lianghuai, Changlu, and Shandong will all be converted into silver and directly sent to Taicang. Salt tax revenue will be prioritized for the construction of horse markets in Xuanda and Datong, and for the reward of Mongolians. Eunuchs and powerful figures in Jiangnan are strictly prohibited from privately trading salt."

He followed the arrow with his finger.

"The salt fields are located in Jiangnan, and the profits from the salt production could have been used for water conservancy and people's livelihood in Jiangnan. However, Gao Gong's cabinet forced all salt silver to be transferred north. The profits of Jiangnan salt merchants were greatly squeezed, and officials and gentry in the Central Plains and the North monopolized the salt industry and shared the profits."

Zhu Dijun wrote three characters on the whiteboard: the salt producer, the salt merchant, and the common people.

"How does this chain work? The surplus salt from salt-producing households is forcibly purchased by the government at the lowest possible price. Salt merchants then pass on the costs to the end consumers. The extra money that ordinary people spend on salt becomes the military pay for the nine border regions, the bricks and stones for the Great Wall, the rewards for trade, and the gray income of northern civil officials."

He put down his teaching pointer.

"There's a statistic I mentioned before, but I'll reiterate it today. Taicang's annual revenue is a mere 201 million taels. The salaries of officials in the capital plus the military pay for the nine border regions amount to over 370 million taels a year. The national treasury is chronically in deficit by nearly half. How do we cover this deficit? Salt tax, monthly port merchant tax, and silver taels for horse racing—all of it is used to fill the gap. If that's not enough, we pursue the Xu family, investigate their estates, and levy additional taxes."

Zhu Dijun drew a funnel on the whiteboard.

"The silver from the Americas came from Yuegang. After being intercepted by local governments, provincial administrations, and the cabinet, only a small fraction reached the national treasury. And what about the common people? Not even a fraction of it."

He tapped the bottom of the funnel.

"The common people only had copper coins. The imperial court collected taxes in silver. When the common people went to the money shops run by the gentry to exchange for silver, the loss rate was extremely high. During a good harvest, the price of grain was suppressed, and when it was time to pay taxes, the price of silver was raised. They were fleecing both ends. This trick was played from the first year of the Longqing reign to the fifth year, and they became more and more skilled at it."

Zhu Dijun walked in front of the camera.

"Let's talk about the northern border trade tax system. This was a new opening in the fifth year of the Longqing reign."

He marked the tax revenue of eleven horse markets on the map.

"Mongolian horses and furs are taxed upon entry. Silk and tea exported from the Central Plains are subject to commercial taxes. These taxes are retained for local use in the border towns and do not need to be turned over to the central government."

Someone in the comment section realized what was happening:

"Wait a minute, not handing it over to the central government? Then who will oversee this money?"

"There's no oversight."

Zhu Dijun shrugged.

"The governors and viceroys of Xuanfu and Datong collected and spent the money themselves. The Ministry of Revenue couldn't find out, and the cabinet didn't care. This border trade tax was the private slush fund of the northern military and political clique. The government deliberately raised the prices of goods from the Central Plains and lowered the purchase price of Mongolian horses. It was a double squeeze. Han merchants spent more money to buy horses, and Mongolians spent more money to buy tea. The difference all went into the pockets of the border officials."

He wrote the words "Keep for yourself" on the whiteboard.

"Salt tax goes to Taicang, which is then allocated by the cabinet and eventually flows to the north. Border trade tax goes to the border towns, which spend it themselves. Both channels, one overt and one covert, are channeling money to the north."

Zhu Dijun erased everything on the whiteboard and redrawn a master plan.

Five timelines are arranged side by side, from the first to the fifth year of the Longqing reign.

"In the first year of the Longqing reign, the Xu Jie faction in Jiangnan seized power. They purged the Yan faction, opened the ports during the Longqing reign, monopolized maritime trade and the salt industry, and cut off the emperor's private treasury. The gentry in Jiangnan feasted, while the court starved."

"In the second year of the Longqing reign, Emperor Muzong, taking advantage of the balance of power, recalled Gao Gong. The interests of the North and South were redistributed."

"In the third year of the Longqing reign, Gao Gong became the sole prime minister. The political, military, and economic systems underwent a complete reshuffle. The South provided the funds, while the North spent them."

"In the fourth year of the Longqing reign, the harvest was completed. The performance evaluation system was used to purge officials in Jiangnan. The Hannaji Incident opened up trade routes to the grasslands. The salt administration system stabilized the financial resources of the north. Yuegang monopolized the maritime silver trade."

"Fifth year of the Longqing reign. Finalized design."

He wrote six lines under the "fifth year" column.

"Politics—Gao Gong's dictatorship. The performance evaluation system was implemented nationwide. The purge of Xu Jie continued. Zhang Juzheng secretly contacted Feng Bao, laying the groundwork for his power grab."

"Military: Anda paid tribute. Eleven horse markets were opened. The northern border defense system was completed. The southeastern navy was disbanded. The southwestern Gutian region was pacified."

"Economy - Salt tax was directed northwards. Border trade tax revenue was retained. Overseas silver was monopolized by officials and gentry. National taxes transitioned to being converted into silver."

"The royal family—Emperor Muzong received a share of the imperial treasury, and the expenses of the harem were not restricted."

"Northern Group - has secured three golden veins: salt profits, border trade, and military spending."

"Jiangnan—paying money, disarming, and being purged. Losing its military trump card and the right to speak in public opinion."

Zhu Dijun put down his pen and took two steps back.

"Five years. From the first year of the Longqing reign to the fifth year. Not a single thing that happened in the Ming Dynasty court was for the benefit of the people. It was all about the redistribution of resources among the upper power groups."

He pointed to the bottom of the whiteboard. There was nothing written there.

"The common people. Salt prices rose. Corvée labor was not waived. Maritime merchants went bankrupt. Their land was confiscated. Salt producers were exploited to the extreme. They were fleeced three times when exchanging silver for taxes. They were the cost of this feast of profit-sharing. From beginning to end, no one asked them if they were willing."

The live stream was silent for a few seconds.

The Ming Dynasty, in the final years of a parallel Chongzhen era.

Coal Hill. Zhu Youjian stood under the crooked tree, listening to the complete dismantling of the coal hill in the fifth year of the Longqing reign.

He didn't cry. He didn't curse. He just reached out and touched a crack in the bark.

"My grandfather, Emperor Wanli, reigned for forty-eight years. Zhang Juzheng's reforms lasted ten years, and the national treasury was full. But all that money ended up in the cellars of civil officials and gentry. When I ascended the throne, the national treasury couldn't even scrape together a thousand taels of silver."

He turned and looked in the direction of the Forbidden City. In the twilight, the outline of the palace blurred into a dark shadow.

"Starting from the fifth year of the Longqing reign, this line never stopped. Salt tax was collected by the north, border trade was kept for themselves, and silver was intercepted. Money from the south flowed north, and grain from the north was sent to the area beyond the Great Wall. In the end, Buryat wild boarskins rode horses given to them by Shanxi merchants and carried iron knives sold by Shanxi merchants, and stormed into Beijing."

Zhu Youjian gave a wry smile.

"I am not wronged. I am wronged by the common people. They paid taxes for two hundred years and raised parasites for two hundred years. In the end, they even had to make their own ropes to hang themselves."

He sat down, leaning against the crooked tree.

"One year left. In the sixth year of the Longqing reign, Emperor Muzong drank himself to death. Gao Gong was driven out. Zhang Juzheng ascended the throne."

Zhu Youjian looked up at the sky.

"The descendants of the Prince of Zhao are right. The Ming Dynasty's illness did not end with Emperor Chongzhen, nor with Emperor Wanli. It ended with these parasites who wore official robes, wrote petitions, and spouted benevolence and morality."

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