Jingtai: Making the Ming Dynasty Great Again

Chapter 146 Rush to Buy

The Northern Garrison Prison.

Chen Tingjing was tied to a wooden stake, trembling all over.

He has been locked up here for two days.

No one interrogated him, no one beat him, they just threw him into this dark and damp cell.

The instruments of torture hanging on the wall gleamed faintly in the candlelight, each one seeming to beckon to him.

He didn't know what awaited him, and this unknown was more terrifying than any punishment.

The sound of footsteps grew louder as they approached.

The prison door was pushed open, and Lu Zhong walked in, followed by two Imperial Guards.

Lu Zhong looked at Chen Tingjing: "Manager Chen, have you thought it through?"

Chen Tingjing's lips trembled: "Commander Lu, I really don't know what those fake coupons are all about!"

Ordinary people are victims too!

Lu Zhong didn't speak, but took a piece of paper from his sleeve and placed it in front of Chen Tingjing.

That was a confession.

Chen Tingjing's expression changed after just one glance.

"This is the testimony of Wang Defa, the manager of Hengtai Money Exchange."

He said that someone asked him to make those fake coupons.

The templates, paper, and paint were all provided by that person.

The man's surname was Chen, and he was an agent of the Shanxi merchants in the capital.

His surname was Chen, and he was an official in Beijing representing the Shanxi merchants.

"Manager Chen, who do you think this person is?"

Beads of sweat rolled down Chen Tingjing's forehead.

Lu Zhong continued, "Wang Defa also said that the man gave him a deposit of five hundred taels of silver, saying that he would get 20% after the deal was done."

.

Chen Tingjing opened his mouth, but said nothing.

Lu Zhong put away the confession and turned to leave: "You don't need to say anything; I can get to the bottom of this matter myself."

Chen Tingjing suddenly shouted, "Commander Lu! I'll confess! I'll confess everything!"

Lu Zhong stopped and turned around.

Chen Tingjing was panting heavily, his face covered in sweat: "Those fake coupons were made by someone I had made."

Hengtai Money Shop only helped with the printing; the idea and capital came from ordinary people, and it was ordinary people who redeemed the counterfeit notes.

It has nothing to do with the Shanxi merchants!

They—they don't know!

Lu Zhong's eyes flashed: "Oh? You did it all by yourself?"

Chen Tingjing nodded frantically: "Yes! It's just that the common people are blinded by greed and want to make a fortune."

Xiao Min worked for the Shanxi merchants for twenty years.

He handles tens of thousands of taels of silver every year, but only receives a few hundred taels in return.

Seeing those wealthy merchants spending lavishly, ordinary people felt resentful.

Hearing that the bonds were maturing, Xiao Min—and then—had a wicked idea.

He spoke while crying, tears streaming down his face: "Commander Lu, I know I was wrong!"

The common people are willing to return the stolen goods!

The common people are willing to have all their property confiscated!

"I only beg you to spare my life!"

Lu Zhong looked at him and suddenly laughed: "Manager Chen, do you think I'm a three-year-old?"

As a steward of a merchant guild, your monthly salary is only ten taels. Where did you get a thousand taels as a deposit?

Even if you saved up for ten years and accumulated a thousand taels, would you take it all out to gamble on this one bet?

You're not stupid, you wouldn't do that.

Chen Tingjing's crying stopped abruptly.

Lu Zhong patted him on the shoulder: "Someone's pulling the strings behind the scenes, isn't that right?"

Chen Tingjing's face was ashen.

Lu Zhong sighed: "Manager Chen, you've been used as a pawn."

That person made you stand up for him, while he himself hid in the background.

If things go well, he gets the benefits; if things go wrong, you take the blame.

He doesn't even dare to show his face, do you think he can protect you?

Chen Tingjing's lips trembled violently.

Lu Zhong turned and walked out: "Think it over carefully. If you've figured it out, call out."

October 18th, the first year of the Jingtai reign.

Qianmen Street, the Ministry of Revenue bond exchange point.

The line is even longer today than yesterday.

There were not only individual investors, but also several large merchants dressed in silk robes.

Strangely, they didn't queue; they just stood on the side of the street looking around, as if they were waiting for someone.

Liu Datong is here again.

He left satisfied after exchanging 500 taels the day before yesterday, but the more he thought about it after returning home, the more uneasy he felt.

I came here again early this morning to ask if it's possible to renew the contract.

He was stopped by someone as soon as he reached the street corner.

The man who stopped him was a middle-aged man in his forties, wearing a royal blue silk robe.

It was Manager Zhao of Hengchang Tea House.

Manager Zhao, beaming, said, "Manager Liu, please wait!"

Liu Datong was taken aback: "Manager Zhao? What are you doing here—"

Manager Zhao lowered his voice: "Manager Liu, that five hundred taels of silver you have—was it obtained through exchange?"

Liu Datong nodded: "Yes, I redeemed it the day before yesterday. What's wrong?"

Manager Zhao looked around, then pulled a piece of paper from his sleeve: "Manager Liu, could I borrow your five hundred taels?"

Liu Datong didn't understand: "Borrow? How do I borrow?"

Manager Zhao said, "It's not a loan, it's a purchase."

I want to buy bonds, but they need someone to sell them.

"If you're willing, take these five hundred taels and buy back the bonds for me. I'll give you five taels as a running fee, how about it?"

Liu Datong was stunned.

Manager Zhao added, "Or if you have any unredeemed bonds, you can sell them to me directly."

I'll give you 53 taels in exchange for 50 taels of bonds.

You made a net profit of one tael.

Liu Datong was completely dumbfounded: "Bonds can appreciate in value?"

Manager Zhao laughed and said, "Of course! Why not? Don't you know the Ministry of Revenue has issued new regulations!"

Liu Datong then realized what had happened and was filled with deep regret.

He redeemed 500 taels of silver the day before yesterday, and the bonds have gone up in value today!

Just then, a commotion broke out at the entrance of the exchange point.

The two looked up and saw that the notice board was surrounded by a crowd.

A clerk had just posted a notice and was loudly reading it aloud: "Ministry of Revenue hereby issues notice: In order to provide relief to merchants."

The continued holding of bonds is a way for the court and merchants to benefit each other.

Those who hold bonds for more than one year will be eligible for additional salt quotas, which will not be counted towards the regular limit.

If you continue to hold 500 taels, you will receive an additional salt permit!

If you continue to hold 1,000 taels, you will receive two additional salt permits and one additional tea permit!

"By continuing to hold 10,000 taels, you will receive an additional 20 salt permits, 10 tea permits, and a customs clearance certificate!"

The crowd immediately erupted in uproar.

"Salt permits?! Extra quotas?!"

"Originally 3,000 quotas a year, and now it can be more?!"

"My God! This is worth a fortune!"

At the counter, the clerk was busy.

A shopkeeper slammed a stack of bonds onto the counter: "One thousand taels, hold for another year!"

The clerk took the bond and examined it carefully. After a moment, he looked up and said, "The bond is correct. You may continue to hold it for another thousand taels."

You can obtain two additional salt permits and one additional tea permit.

Do you need it?

The shopkeeper quickly replied, "Yes! I want it now!"

The clerk took three vouchers from the cabinet and handed them to him: "With these, you can purchase additional salt permits and tea at the relevant department."

The shopkeeper carefully tucked the voucher into his pocket, beaming from ear to ear.

The crowd behind me was already packed together.

"I'll add another five hundred!"

"I'll add another thousand!"

"Don't push! Line up!"

The area in front of the counter immediately descended into chaos.

Across the street, an elderly man was holding several bonds and was surrounded by three or four people.

The group of men were all talking at once, vying to speak: "Old man! Sell me your bonds! I'll pay fifty-three taels!"

"I'll pay fifty-four taels! Sell it to me!"

"Don't listen to him, I'll offer fifty-five taels!"

The old man was at a loss and didn't know what to do.

Further afield, people were already trading on the spot.

A man had just sold a twenty-tael bond to a silk merchant.

The silk merchant gave him twenty-two taels of silver.

The man took the silver and counted it three times, laughing so hard his eyes almost disappeared.

Liu Datong stared wide-eyed, wishing he could slap himself.

Although he doesn't deal in salt or tea, he can still make a few taels of silver by reselling salt and tea permits.

Inside the exchange counter, Zhou Yan was staring at the ledgers behind the counter.

A clerk leaned over and whispered, "President Zhou, those big players outside are raising prices to buy bonds from small investors."

Zhou Yan looked up and said, "Let them be. Bonds can be traded freely; that's a rule that was set last year."

The clerk said, "But this will increase the price of the bonds—"

Zhou Yan laughed: "So what if the price goes up?"

Prices have gone up, and both retail investors and large investors are happy.

The Ministry of Revenue saved cash, everyone was happy, what's wrong with that?

The clerk was taken aback for a moment, then laughed, "What Master Zhou said is absolutely right."

The number of shares held for the day came out in the evening.

Retail investors continue to hold: 12,000 taels.

Major shareholders continue to hold: 58,000 taels.

Total amount held: 70,000 taels.

Including those that were renewed in the past few days, a total of 150,000 taels of bonds have been chosen to be renewed.

The remaining 350,000 taels will mature in the next two months.

When Zhou Yan delivered the figure to the back room, Jin Lian was looking through a file. He took the ledger, glanced at it, and nodded slightly.

Three hundred and fifty thousand taels. If all of them were withdrawn, the Ministry of Revenue could withstand it—Taicang still had eight hundred and fifty thousand taels of reserve silver. But if they could hold onto half of it, next year would be much easier.

The key point is that once those big players have tasted success, they will help him persuade other big players.

Businessmen trust businessmen the most.

The Imperial Guard's prison.

Chen Tingjing finally confessed.

The name he revealed surprised Lu Zhongdu.

"You mean the person behind you is the Beijing-based chief executive officer of the Shanxi General Chamber of Commerce?"

Chen Tingjing lowered his head and said in a hoarse voice, "He is my superior, Wang Chongde, the chief executive officer of the Shanxi merchants stationed in Beijing."

He let the common people handle things, and he provided the money.

If things go well, he will give the common people 20%.

If things fail, he will guarantee that Xiaomin and his entire family will go to Jiangnan and change their names and identities.

Lu Zhongchen immediately got up and walked out.

Chen Tingjing shouted loudly, "Commander Lu! I confess, can you spare my life?"

Lu Zhong turned to look at him: "Manager Chen, do you know what crime it is to forge official documents?"

According to the Great Ming Code, anyone who forges seals, documents, or tallies shall be beheaded.

You forged bonds, which constitutes the crime of forging survey contracts.

Chen Tingjing's face turned deathly pale instantly.

Lu Zhong sighed: "The person behind you has painted a rosy picture for you. Unfortunately, you can't have it."

After saying that, he turned and walked out.

The moment the cell door closed, a heart-wrenching wail came from inside.

Qianqing Palace, East Warm Pavilion.

Zhu Qiyu frowned as he read through the confession presented by Lu Zhong.

"Wang Chongde, Chief Executive Officer of the Shanxi Merchants Association in Beijing."

Lu Zhong bowed his head and said, "Your Majesty, Wang Chongde left the city yesterday, saying he was going back to the Shanxi General Chamber of Commerce to report on his duties."

"I have already sent men to pursue them."

Zhu Qiyu sneered, "You ran away pretty fast. What about Chen Tingjing?"

Lu Zhongdao said, "According to the law, he should be executed."

Zhu Qiyu nodded: "Alright, but keep him locked up for now. Don't let him die, I might need him later."