I am the prince of the Ming Dynasty, I don't give up

Chapter 161 Opening Business

Citizens in the capital city all began to talk about the King of Jing's coming to the capital, and all of King Jing's past deeds were dug up, from the Jing opera that was popular in the capital, to the lottery that made people rich overnight, to the glass mirror that was recently very hard to come by at a high price.

Every anecdote about Prince Jing would arouse great interest among the listeners and spread by word of mouth spontaneously. In a short time, Prince Jing Zhu Houxuan's reputation spread far and wide and he became the most mentioned name in the capital.

This level of communication effect was naturally not the result of spontaneous dissemination by the masses, but the result of Zhu Houxuan secretly fanning the flames and guiding public opinion.

As a time traveler, he understood very well the power of publicity, and he now needed this level of fame to enhance the people's confidence in the soon-to-be-opened Ming Royal Bank.

The higher the people's confidence in the bank, the better the Ming Royal Bank will be able to attract deposits.

Zhu Houxun's reputation grew under such circumstances, and Zhu Houxun's reputation has always been good. Many beneficiaries of the lottery at that time were still in the capital, and many of them came forward to tell their stories.

Just when Zhu Houxuan's reputation reached a peak, the Ming Royal Bank was finally opened for business.

On the opening day, the Nan Palace was surrounded by red-bottomed black dragon flags, with dragon flags fluttering, gongs and drums beating, and firecrackers blasting.

Zhu Houxun also invited many dignitaries, and Zhu Houzhao himself naturally came in person to show his support. Four grand secretaries of the cabinet were also invited, and many high-ranking officials also came.

Nangong is the headquarters of the Ming Royal Group. It is not open to the public. Instead, it is a business hall near Nangong that is open to the public. The area around the business hall has been newly decorated. Officials are sitting in the well-decorated venue to support the new Ming Royal Bank. Outside the venue, there are crowds of people watching the fun.

At this time, they had no idea what kind of behemoth they were about to witness.

Bank employees in uniform had already handed out colorfully printed flyers to officials in the venue, along with a beautifully packaged gift.

The color-printed leaflet detailed the three businesses currently being carried out by the Ming Royal Bank:

1. Deposits. Deposits are divided into fixed deposits and demand deposits. There is only one type of fixed deposit term, which is 3 years with % interest, while the annual interest of demand deposits is only %. Both types of deposits provide bearer certificates of deposit.

2. Loans: The loan interest rate is 2%, and collateral is required.

3. Silver coin exchange.

Grand Secretary Jin Gui looked at the introduction on the flyer in his hand and said to Grand Secretary Liang Chu, "I thought the King of Jing was going to do something big by making such a big scene. What bank? Isn't this just a money house?"

"You praised the King of Jing as rare in heaven and hard to find on earth when you came back from Qizhou. But you are not as good as a money house. Money houses charge money for deposits, but he wants to pay 20% interest. He is definitely losing money!" Jin Gui continued.

"Chongsui, I was not exaggerating when I praised King Jing. King Jing must have a deep meaning in what he does. Just wait and see. If you have silver, you can deposit some in this bank." Liang Chu said, stroking his beard.

"No, no, no! Although the interest rate looks very attractive, it will take three years to deposit. How many things can happen in these three years? I dare not deposit money into it. I don't think many people dare to deposit money into it. King Jing can't do this deal!" Jin Gui sneered and continued.

Liang Chu was about to say something else, but when he saw Zhu Houxuan coming on stage to speak, he stopped talking and listened attentively to Zhu Houxuan's speech.

Zhu Houxuan first thanked the guests and briefly introduced the business, then he started to throw out his big move: "Although the Ming Royal Bank has just been established, it has received strong support from the royal family. The princes in the south have deposited money in the bank. Among them, the King of Tang deposited 20 taels of silver, the King of Chu 50 taels, the King of Xing taels, and the King of Ning taels. Together with the taels of silver deposited by this king, the total amount is million taels."

As soon as Zhu Houxun finished speaking, everyone present exclaimed. Four million taels of silver. The maximum amount of silver in Taicang of the Ming Dynasty was only 200 million taels of silver.

The people present could not imagine how much four million taels of silver could mean.
"I'm afraid the King of Jing is talking nonsense," the people at the scene began to talk after they came to their senses.

"This is a copy of the deposit certificates of the kings. They all have their signatures on them. Please take a closer look!" Zhu Houxuan took out a stack of papers from his pocket and waved them.

Now everyone present was speechless, but not many people believed it. Anyway, whatever you say is what it is, just do as you like.

At this moment, carriages loaded with silver coins suddenly drove into the venue, circled the venue for half a circle, and then drove away. The white silver coins dazzled the eyes of the people present.

Everyone stared at the silver with their mouths wide open, and for a moment they lost the ability to speak.

"I have brought 200 million taels of silver from the deposits of the various kings with me to the capital this time. I invite you all to come to the Royal Bank of Ming Dynasty to borrow and deposit money," Zhu Houxuan announced loudly.

There were a total of one hundred carriages, but in fact, each carriage only carried 1 taels of silver. In any case, no one present could tell how much silver was loaded on a carriage.

Zhu Houxun brought two million silver coins with him when he went to Beijing this time, because in the previous few years Zhu Houxun had not asked anyone to develop the market in the capital.

Now the time is ripe. As a metropolis with a population of over one million, Beijing has a huge market and people's consumption capacity and willingness are very strong. Beijing will become his home court and a new dumping ground for Qizhou goods.

In order to promote silver coins, Zhu Houxun brought so many silver coins to the capital, and used them in the opening ceremony of the Ming Royal Bank.

Carriages passed slowly by, the silver coins on them jumped happily, emitting charming light in the sun. People couldn't help but hold their breath. Most people had never seen so much silver in their lives. The atmosphere on the scene also reached a climax with the movement of these carriages of silver.

After the facts were laid out before them, the people present couldn't help but believe Zhu Houxuan's words a little more.

It doesn’t matter how much you believe it, what matters is that you start to believe it.

Even Jin Gui began to consider whether to deposit some silver in the Ming Royal Bank. The interest rate was still very attractive.

As mentioned before, the financial system of the Ming Dynasty was extremely backward, and there were no loan platforms. It was not easy for wealthy people to find suitable borrowers to lend money. Now, the Ming Royal Bank appeared in this blank ecological niche.

An annual interest rate of 20% may seem too high from the perspective of future generations, but for Zhu Houxuan, this interest rate was acceptable because silver was slowly depreciating every year, and the input-output ratio of his factories was far higher than this interest rate.

Zhu Houxuan’s goal of opening the store today has been achieved, this is a successful marketing campaign!

(End of this chapter)