Jingtai: Making the Ming Dynasty Great Again

Chapter 149 Drawbacks

Jin Lian smiled: "Don't worry, Li Jishizhong."

The salt and tea corresponding to those permits are all in the transport company's warehouse.

Merchants could withdraw funds using permits, and the amount withdrawn and the selling price were all regulated by the transport company.

The price fluctuations of salt and tea depend on the supply of salt and tea, not on who controls the supply.

If these permits are not given to merchants, they are just worthless pieces of paper if they remain in the Ministry of Revenue.

The salt and tea were given to merchants, who then used them to sell. The salt and tea remained the same, and the people still bought the same salt and tea. So how could this be considered raising the price of salt?

As for personal gain, I have a clear conscience; Your Majesty can verify this!

Li Kan was rendered speechless by his words.

The hall fell silent for a moment.

Zhu Qiyu watched this scene with a slight smile on his lips.

He looked at Liu Dun: "Imperial Censor Liu, what else do you have to say?"

Liu Dun's face turned ashen, but he still stubbornly said, "I still believe that exchanging salt and tea for bonds is not the right way."

According to ancestral laws, salt permits were used for border storage and disaster relief, never for this kind of purpose.

Your Majesty, I urge you to reconsider.

Zhu Qiyu looked at him and asked, "Imperial Censor Liu, when Emperor Taizu established the salt laws, did he ever encounter the predicament of the court being in debt, the people running for salt, and the granaries being empty?"

Liu Dun was taken aback: "This—never."

Zhu Qiyu: "When Emperor Taizong moved the capital to Beijing, did he ever face the perilous situation of the Oirat army besieging the city?"

Liu Dun shook his head: "Never."

Zhu Qiyu: "Then tell me, does the law of our ancestors teach me how to deal with these things?"

Liu Dun lowered his head and dared not speak again.

Zhu Qiyu's gaze swept over the assembled officials: "I know that many of you feel that Jin Lian is wrong in this way and that way."

Ask yourselves honestly, if you were in this position, could you have ensured a fiscal surplus for the imperial court this year?

No one answered.

Zhu Qiyu looked at Liu Dun: "Imperial Censor Liu, I do not blame you for impeaching Minister Jin."

It is your duty as an official to report matters based on hearsay.

But did you think about this before you impeached him?

If Minister Jin were truly a corrupt official, why would he go through all this trouble?

He sat calmly in the Ministry of Revenue, collecting taxes methodically.

If there isn't enough money, just increase taxes. What does it matter to him whether the people suffer or not?

What does it matter to him if the soldiers don't receive their pay?

Why is he so determined to get involved in these bonds and salt and tea products?

Liu Dun lay prostrate on the ground, his forehead pressed against the cold gold brick, saying nothing.

Zhu Qiyu sighed: "Get up."

That's the end of this matter for today.

Whether Minister Jin accepted bribes or not, I will send someone to investigate.

But it's not because of your impeachment, it's because I was going to investigate anyway.

With the Ministry of Revenue handling a large amount of silver, it was inevitable that some people would be watching.

The pure remain pure, and the impure remain impure.

Zhu Qiyu then looked at Jin Lian: "Minister Jin, make a copy of the accounts for those extra salt permits and send it to the Censorate."

Let them verify.

If there are any problems with the verification, I will not tolerate it!

Jin Lian cupped his hands and said, "Your subject obeys the decree."

Zhu Qiyu then looked at Liu Dun: "Imperial Censor Liu, go back and think it over carefully."

What is meant by reporting something based on hearsay, and what is meant by making unfounded accusations?

Prepare sufficient basic evidence before the next impeachment.

Otherwise, I would have to verify it for you, which would be troublesome.

Liu Dun's face flushed red as he said, "Your subject—Your subject will obey Your Majesty's decree."

Zhu Qiyu stood up: "Dismiss the court."

At noon, in the back hall of the Ministry of Revenue.

Jin Lian sat at the desk, with the general ledger of salt permit income and expenditure spread out in front of him.

Li Xian pushed open the door and came in, carrying two bowls of noodles: "Minister Jin, have something to eat."

I stood all morning at the morning assembly; I was both hungry and exhausted.

Jin Lian took the bowl of noodles but didn't eat; he just stared at the ledger in a daze.

Li Xian asked cautiously, "Minister Jin, what are you thinking about?"

Jin Lian sighed: "I'm thinking about what Liu Dun said."

Although it's extreme, it's true that it's not wrong.

Exchanging salt for bonds is definitely not the right way.

"There's no other way right now; this is the only step we can take."

Li Xian said, "But didn't you explain it clearly?"

Those salt certificates are all surplus certificates; if they aren't taken out, they're just worthless pieces of paper.

Jin Lian shook his head: "That's not how you calculate it."

Salt can be used once or twice.

Excessive use can lead to salt overabundance.

This time, what's being issued isn't a token, but rather the qualification to redeem it.

There is no annual write-off limit.

His Majesty is protecting me today because he knows I am working for the court.

But I must be clear that this method cannot be used frequently.

We need to find other ways to get those wealthy households to willingly keep their money in the hands of the imperial court, instead of having to exchange it for salt and tea permits every time.

Li Xian seemed to understand something: "You mean that?"

Jin Lian nodded: "It's the bank Your Majesty mentioned."

Deposits earn interest, loans generate interest, and money circulates in the bank.

This is much safer than issuing bonds or exchanging capital.

"But this is a huge undertaking; we have to take it slowly."

Meanwhile, the Censorate.

Liu Dun sat in his duty room.

A blank memorial lay before him, and he remained silent for a long time.

His colleague Chen Tai pushed open the door and, seeing his appearance, sighed: "Dunzhi, you still want to impeach him?"

Liu Dun raised his head and said with a wry smile, "I don't want to impeach him, I just can't understand it."

Chen Tai sat down opposite him: "What can't you figure out?"

Liu Dun said, "Jin Lian's salt permits are indeed clearly recorded in the accounts."

But I just felt that something was wrong with this.

Salt certificates belong to the state; why should they be used to exchange for those merchants' bonds?

Those merchants who obtained salt permits could immediately make money.

Is the imperial court at a loss?

Chen Tai said slowly, "Dunzhi, have you ever thought about this?"

Those bonds were originally owed by the imperial court to merchants.

What's the difference between repaying debts with salt and repaying debts with cash?

Liu Dun seemed to be deep in thought.

Chen Tai continued, "If the imperial court uses cash to repay the debt, where will that cash come from?"

You've seen the surplus in the national treasury.

Eighty-five hundred thousand taels of silver—if all the bonds were redeemed, we'd be struggling to make ends meet this year.

Now Minister Kim is using salt permits to attract merchants to continue holding them.

This not only keeps the national treasury surplus within a safe range, but also boosts sales of salt and tea.

The more merchants sell, the more taxes the imperial court will collect the following year.

The only concern is that this could lead to salt permits being concentrated in the hands of a single company, causing merchants to hoard and speculate, thus driving up prices.

Liu Dun opened his mouth, but couldn't utter a word.

Chen Tai: "Dunzhi, as censors, we should impeach when necessary and question when appropriate."

But before raising questions, the facts must be clarified first.

Otherwise, you'll just be someone else's pawn.

By the way, some of the businesses on the list you checked belong to the Jiangnan merchant group.

Do you know what the Jiangnan merchants have been up to lately?

Liu Dun shook his head.

Chen Tai said, "They're making connections. Were you instigated to step forward this time?"

Liu Dun's expression changed.

Chen Tai sighed and went out the door.

Inside the duty room, Liu Dun sat there without moving for a long time.

East Warm Pavilion of Qianqing Palace.

Zhu Qiyu listened to Lu Zhongbing's report on the events following today's court assembly.

"After Liu Dun returned, he stayed in the duty room and did not come out."

Chen Tai went to see him, but his men didn't hear exactly what they talked about.

Zhu Qiyu nodded: "Was Liu Dun a good official?"

Lu Zhong replied, "I have investigated his background."

This person is indeed honest and upright, with no surplus wealth, and never forms cliques. His only flaw is his straightforward nature, which makes him easily manipulated.

Zhu Qiyu smiled: "He has a straightforward and good nature."

I fear those who are both greedy and cunning.

A good official is one who is used properly.

By the way, how's the investigation on Cao Jixiang's side going?

Lu Zhong: "The account book has not yet been found. His Majesty said he would spare Wang Chongde's life, so I dare not impose severe punishment."

Zhu Qiyu frowned: "Find the account book as soon as possible, don't hold back."

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