Chapter 597: Chapter 597

He was very self-aware, didn’t act recklessly, and didn’t add to the chaos.

That’s the way of the Taoist—non-action.

The minting of coins was a matter for the Ministry of Revenue and the Ministry of Industry, led by Elder Huo, with Xu Qing mediating.

The Minister of Revenue, Chen Fu, was a staunch ally of Xu Qing. The Minister of the Ministry of Industry had witnessed Xu Qing’s methods in river management before, so naturally, he wouldn’t act foolishly. Moreover, Xu Qing had long established his roots in the Ministry of Industry, with authority beyond question.

South Zhili may lack many things, but it has an abundance of silver.

From the distinguished officials and nobles to the landlords and wealthy, everyone loves to hoard silver.

Xu Qing seized the opportunity of coin minting to have these people exchange their silver for silver coins.

They had no choice but to make the exchange.

Because under the same value, the silver coins are exquisite.

Even a fool knows it’s better to exchange for silver coins than keep plain silver.

Xu Qing fully activated the minting machine, emphasizing quantity and satisfaction, driving out inferior coins with superior ones.

With the unification of currency and the establishment of the Great Yu Bank, the flow of silver became endless. Xu Qing’s Great Yu Bank not only charged no interest but rather paid interest to depositors, though small, it’s enough to tempt the nobles of South Zhili.

If it were the Court backing it, the Great Yu Bank surely wouldn’t succeed.

The crux is, Xu Qing personally vouched for it. If the interest couldn’t be provided, Xu Qing publicly stated in the newspaper that he would cover it himself.

In South Zhili, you might not trust the Court, but if you don’t trust Xu Liushou, even the most resentful scholars of Xu Qing would slap you.

Though they hate Xu Gongming, they certainly wouldn’t question his integrity.

In the past, speaking of ancient people, it was said to be worth a thousand in gold for a promise.

Now in Jiangning, Xu Liushou, his words are like entering or leaving a mountain, not exchanged for ten thousand gold.

This is universally acknowledged in the industry.

Even Duke Wei acknowledges it!

One must say, the persona Xu Qing previously established played a significant role in the founding of the Great Yu Bank.

With the loans from the Great Yu Bank, the Court dispatched large armies to suppress the refugees, even having funds to restore post-event production.

Huo Jing was dumbfounded by this.

He was well aware of the tremendous efforts and numerous methods Zhang Tai’a and the old Emperor previously undertook to seize money from the nobles.

In the end, the money collected over the years pales in comparison to what Xu Gongming gathered in a single month.

Though it must be said that the money was borrowed.

But as long as the money is spent effectively, what does it matter if it’s borrowed?

Frankly, Xu Qing revitalized a portion of the wealth accumulated for years through smuggling and maritime trade by the Jiangnan nobles, circulating it anew.

With this money, industries and businesses no longer face funding shortages.

Subtly, the Great Yu Bank is transforming into the largest creditor in South Zhili.

Since the bank’s money largely comes from the nobles, they are more reluctant to disrupt the new workshops and trade associations, lest the interest cannot be collected and the principal consumed.

After all, Xu Gongming promised compensation, but without money, how can he compensate?

While trust is given, considering realistic factors is natural.

Moreover, Xu Qing also emphasized this point in the newspaper.

Although the nobles understand this is an overt conspiracy, there’s no reason to refuse.

Putting money in the bank allows one to earn effortlessly, greatly benefiting future generations.

Even if the old ones oppose, the spoiled descendants of the family don’t allow their opposition.

Although there are clear-minded wise men in this world, facing the grand scheme, they can only go with the tide.

It has always been that those who follow the order enjoy ease, those who go against it face labor.

Now, Xu Qing is the order of South Zhili. Google seaʀᴄh novel⸺fire.net

Though Xu Qing’s maneuvers temporarily solved the Court’s monetary shortage, the food problem remains severe; in addition, warfare in the Northern and Liao Dong regions has resumed.

Suddenly, the Court’s border pressures surged.

Without food, many suppressed refugees were brutally killed by the Official Army. For a time, those remote impoverished provinces were filled with grievances, and many Devils began to awaken.

The disparity between Jiangnan and provinces beyond Jiangnan became increasingly apparent, like the difference between heaven and purgatory.