Fu Shanhe

Chapter 491 The Bankruptcy of the Great Yu

Yong'an Prefecture.

"People's lives are so difficult!"

Looking at the latest immigration data, Li Mu couldn't help but sigh.

Influenced by the anti-tax movement in Jiangnan, the number of people registering for immigration in the northern region increased significantly.

In addition to bankrupt ordinary people, some small landowners, small business owners, and artisans also joined the ranks of immigrants.

"My lord, this New Year in the capital is probably going to be difficult."

Many of the sisters complained in their letters about the high prices in the capital.

Jing Yaqing said in response.

Her close friends were either from noble families or members of the royal family.

If these powerful and wealthy people feel that prices are high, then life must be even harder for ordinary people at the bottom of society.

If this is the case even in the capital, other regions probably won't even have tree bark to eat.

In the past, people were terrified of the Annam Protectorate, but now they are bringing their families to sign up for immigration.

Going to Southeast Asia was very risky and full of uncertainties.

Even if the risk is great, it's still better than leaving people to starve to death.

Given the current situation, the number of immigrants will be as large as the immigrant fleet can accommodate.

Often, even when the fleet was full, some people would try every means to pull strings in order to escape the northern lands as quickly as possible.

"How come they're now struggling to make ends meet?"

Li Mu asked in surprise.

He was quite familiar with his wife's social circle.

They were all from prominent and wealthy families in Dayu; any one of them could be considered a top-tier household.

Even though some families have declined over the years, they are still bigger than horses, even if they are now in decline.

Even if they stubbornly cling to their current status, they can maintain their wealth for several more decades.

If these people are complaining about high prices in front of outsiders, it means that the economy is truly in trouble.

"Due to the natural disaster, the farms outside the city suffered severe crop failures and could not collect much rent at all."

Commerce in Beijing and even the north suffered a severe blow.

It is said that shop rents in Beijing have fallen by as much as 80%.

The profits of all families in the capital are shrinking drastically, and many families have begun to live beyond their means.

Some lazy bums have recently started looking for jobs.

"If it weren't for our family's shops, most of which are rented to those grain merchants, we'd probably be affected too."

Jing Yaqing calmly explained.

The collapse of the northern economy also led to a decline in the consumption levels of the wealthy in Beijing.

Many previously thriving businesses have now been impacted.

The industries of the Marquis of Hanshui were unaffected, thanks to the benefits brought by the grain trade.

In an era of widespread food shortages, as the largest grain supplier of the Great Yu Dynasty, it naturally controlled the market discourse.

When it comes to selling grain, people will definitely prioritize wholesaling to acquaintances.

Businessmen are shrewd; once they've established a relationship, they won't risk losing more than they gain.

Other families in the capital do not have this advantage.

Those who held power in the imperial court were fortunate; no matter how financially troubled the Great Yu Dynasty was, it never mistreated its officials.

The power they wield determines their income.

Even though the family's income from their businesses had decreased sharply, the money and grain they had obtained through their official positions were enough to support the family's expenses.

Those who are truly impacted are the unfortunate ones who lose out in political struggles and lose their voice.

On the surface, they appear to hold a prestigious position, but in reality, they have long been far removed from the political center.

If it weren't for the connections left by their ancestors, they would have long since become easy prey, devoured by hungry wolves from all sides.

Those with some foresight had long ago arranged for their outstanding sons to enter officialdom, hoping to return to the political center.

Even if they don't climb the ranks, having more sons serving as officials in the court can provide additional income.

In the Great Yu Dynasty, the best profession was to be an official.

Large-scale commercial activities are all conducted under the control of power.

Li Mu himself is the best example.

When I served as a commander of a thousand households in the capital, I only dared to manage a few shops and a few estates in the suburbs.

When he took office in Yangzhou, he set his sights on the mines.

After taking control of Annam and becoming a regional ruler, he experienced a qualitative leap.

If he wanted, he could get involved in any of the most profitable businesses in the Great Yu Dynasty.

"Other issues are negotiable, but don't agree to the job offer."

If they were truly capable, they would have been promoted years ago. The fact that they've been delayed until now clearly indicates they're desperate for opportunities.

Recommending them for official positions would be tantamount to bringing disaster to the country and its people.

Li Mu spoke up to remind him.

It's nothing more than friendship; lending a helping hand is commonplace in elite circles.

To some short-sighted people, recommending someone for an official position is just a matter of talking; as long as it doesn't involve borrowing money, it's all negotiable.

When it came to Li Mu, the situation was exactly the opposite.

Borrowing money is actually easier to negotiate.

Even if they can't repay in the future, having a few more deadbeat creditors won't make a big difference.

On the contrary, recommending someone for an official position must be done with great care.

Each recommendation represented the Marquis of Hanshui's mansion.

If these people cause trouble in officialdom, the Marquis's mansion has an obligation to clean up the mess.

Although no one dares to hold a grudge against Li Mu given his current status, they will definitely curse him in private.

Building a good reputation is hard work, and we can't let it be ruined so easily.

If you really want to gain the Marquis's favor, then come to Annam yourself. After passing the test, Li Mu will naturally give you a chance.

"My husband, don't worry, I'm not that stupid."

Why would someone with so many connections in Beijing choose to come to me? It's obvious there's something wrong with them.

Besides, they're not fools; they'd definitely save the best resources for their sons.

They won't easily ask for help unless absolutely necessary.

Jing Yaqing said with a smile.

For those born into the highest nobility, mastering interpersonal skills is an essential skill.

The definition of a best friend is a fake sisterhood.

However, since I had nothing else to do, I could communicate with my childhood friends and gain some emotional value, which helped maintain our relationships.

I readily offered to help with any small favors I could manage.

When interests are involved, the pros and cons must be weighed.

……

As the Spring Festival approaches, a time that should be the most festive season of the year, Beijing is devoid of any festive atmosphere.

Due to the disruption of the Grand Canal, prices in Beijing continued to rise, and people were worried about making a living.

Perhaps influenced by the atmosphere, many wealthy families in the capital also reduced their spending.

The lively sound of firecrackers that used to fill the air has suddenly disappeared from everyone's sight this year.

Wenyuan Pavilion.

"Having so many officials blocking the way outside isn't a solution."

The Ministry of Revenue should find a way to distribute a portion of the stipends in rice first, so that officials can have a good New Year!

Jiang Shuhan said in a low voice.

The impact of the disruption of the canal transport was more severe than expected.

The incremental revenue from maritime transport is far from enough to fill this gap.

What's worse is that the grain tribute was a tax levied in kind by the imperial court, and the cost was borne by the local governments, while maritime transport was normal commercial trade.

The former was deposited into the treasury under the guise of tax revenue, and the imperial court did not need to spend money on it; the latter, however, required the Ministry of Revenue to pay for its purchase.

The exorbitant grain prices directly crippled the empire's finances.

"The Grand Secretary, the national treasury is empty."

Taxes from the Jiangnan region could not be collected, and grain and money from Huguang and Sichuan were also delayed on the way.

"You're asking our Ministry of Revenue, where are we supposed to get the money?" Lü Lingfeng said, spreading his hands.

Even with the highest possible estimate, the impact of the Jiangnan anti-tax movement ultimately exceeded his expectations.

Just a few months late, the fragile finances of Da Yu were bankrupted.

Not only were ordinary people struggling to make ends meet, but even lower-ranking officials in insignificant government departments were finding it difficult to get through the New Year.

Serving as an official in the government and having to ask your family for money is essentially a form of paying for a job.

If that were all, it wouldn't be so bad. Although the salaries of officials in the Great Yu Dynasty were low, their benefits and treatment were very generous.

Those who passed the imperial examination were entitled to 2000 mu of tax-exempt farmland.

Even a minor official of the seventh rank in the capital has 3000 mu of tax-exempt farmland.

The higher the official rank, the more tax-free land one could possess.

The maximum number of acres of land exempt from taxation for officials is 10,000 acres.

Although in name, the imperial court's preferential treatment system was limited to corvée labor and a portion of taxes.

In practice, local government offices would never go to officials' homes to collect taxes on their land; all the burdens were shifted to the self-cultivating farmers.

Even if a family has no land, neighbors will come to them with their land.

Anyone who has served as an official in the Great Yu Dynasty is rarely poor.

The revenue generated by these preferential treatment policies is only a small part of the officials' income.

The main source of income comes from various forms of filial piety during one's employment.

If you're good at business, you can become rich in just one generation.

This model was working well at first, but it couldn't withstand the constant natural and man-made disasters.

No matter how many tax-free fields there are, they still need to produce something.

Running a business also requires seizing the right opportunity.

In an era of economic decline, most businesses lose money.

With the situation deteriorating to this point, even the small and medium-sized gentry and landlords in the northern region are on the verge of bankruptcy.

Without these hidden benefits, officials in low-paying government offices who relied on their salaries would naturally find it unacceptable for the court to withhold their pay.

"It's not just the salaries of officials in the capital that are being protested; the capital garrison and the border troops are also demanding their pay."

If this problem remains unresolved, it could lead to serious consequences!

"The Marquis of Zhendong said with a solemn expression."

These days, he's been exhausted from trying to calm the troops.

No matter how sweet your words are, you can't escape the hunger in your stomach.

Even if we can't afford to eat rice and wheat flour, we should at least get some coarse grains so that everyone can get by.

As a result of the imperial court's failure to pay its troops, even entire units of troops deserted in the capital.

Often, news is only reported after people have boarded the ship and left.

Such a situation could only have arisen because his colleagues in the military were helping to cover it up.

The government's allocation of money and grain is limited; reducing the number of soldiers will allow everyone to have a little more to eat.

Upon receiving the news, the Governor's Office went to argue with the Marquis of Hanshui's residence, but it was to no avail.

Once the immigrant ship leaves port, it cannot turn back.

To prosecute deserters, the imperial court would send people to the South Seas to search island by island.

The Great Yu Dynasty lacked money and food, but not soldiers, so there was no need for such a fuss.

If the capital garrison was in such a state, the number of deserters among the border troops was even greater.

The imperial court's supplies of money and provisions were not timely, and the soldiers also needed to survive, so the frontline commanders could only turn a blind eye.

If it weren't for the money and grain provided by the imperial court, the soldiers under their command would not have been able to be fed, and the young nobles and generals would not have been so eager to cause trouble.

"My lord, I understand everything you've said."

But the Ministry of Revenue has no money!
This year's autumn tax revenue is already at this stage, and less than one-tenth or one-twelfth has been deposited into the coffers.

These funds and provisions were allocated without even staying overnight at the Ministry of Revenue.

Even if you have to scrape together money from here and there, you still need somewhere to move it!

Lu Lingfeng said with a mournful face.

Both administrative expenses and military expenditures are essential expenses for the imperial court.

Logically, all of them should have been disbursed in full, but unfortunately, the Ministry of Revenue is truly short of funds.

"We have to find a way, even if we don't have money!"

"The royal family is also in big turmoil right now."

"Just you wait and see, if you can't come up with the money soon, your entire mansion will be razed to the ground!"

Minister of Rites Yuan Tianyu then added insult to injury.

He had always disapproved of the style of the Qingliu Party members.

Knowing full well that the imperial court was facing financial difficulties, these bastards still proposed tax reductions for the gentry in Jiangnan in court earlier.

If it weren't for these guys dragging their feet, the imperial court would have taken forceful measures to collect taxes when the tax revenue in Jiangnan was found to have plummeted last year, instead of waiting until after the autumn harvest to take action.

As the Minister of Revenue, the person who knows the court's finances best, failing to make advance preparations was the greatest dereliction of duty.

Faced with the siege of his ministers, Lü Lingfeng cast a pleading look at his teammates, but they pretended not to see him.

There's no way around it; the political ideology of the Qingliu Party sounds very tempting, but when it comes to its practical application, it's full of pitfalls.

Not only can it not be used to solve problems, it will actually create more problems.

"Minister Lü, back then, when the White Lotus Rebellion swept across half the country, our Great Yu Dynasty survived."

Does the empire's finances really go bankrupt in your hands just because the taxes are a few months late?
Don't forget that the rebel army in Guanzhong has already left Tongguan and is approaching the capital.

Constrained by financial and logistical constraints, the imperial court has yet to dispatch troops to encircle and suppress the rebellion; if this drags on any longer, the entire empire will be doomed!

Minister of War Luo Wenbo reprimanded him sternly.

Affected by the food shortage in the north, the imperial court became passive in suppressing the rebellion.

It wasn't that people were unaware of the threat posed by the rebels; the main problem was that after suppressing the rebels, the imperial court had no food to feed the disaster victims.

If you can't fill your stomach, you'll rebel sooner or later.

The most effective solution at present is to send as many immigrants as possible to Southeast Asia.

Sending off one group of people reduces the pressure on the rest of the group.

Unfortunately, too many people went bankrupt, and the Annam Protectorate's immigration capacity was limited, so it could only prioritize evacuating the refugees pouring into Shuntian Prefecture.

"Minister Luo, isn't it too late to say all this now?"

If everyone really wants to raise grain, then let's investigate corruption in the capital!
"Let's start with the officials in my Ministry of Revenue. If we're lucky, we might catch a few major corrupt officials, which might be enough to tide us over."

Lu Lingfeng immediately retorted in a huff.

In theory, anti-corruption is an effective measure to solve fiscal difficulties.

But what the Great Yu needs most right now is not money, but grain.

With the canal transport disrupted, we can only rely on sea transport now.

The grain business has high barriers to entry; not just anyone is qualified to get involved.

Those who own ocean-going vessels make up an even smaller percentage.

Maritime trade is inherently highly profitable, and maritime merchants will not abandon their original business and switch to another trade just because of a temporary food shortage in the north.

Currently, the capital's food supply mainly relies on the immigrant fleets of the Annam Protectorate.

When the fleet headed north, it would usually load a boat with grain.

When the quota is insufficient, we will occasionally stop halfway and purchase some goods along the way.

Due to limitations in navigation technology, the arrival time of the fleet depended entirely on the luck of the weather.

As the year drew to a close, the fleet still hadn't arrived.

The capital city, already facing a food shortage, suddenly couldn't hold on any longer.

"Investigate if you want!"

"I hope that Minister Lü will still be this tough then!"

The old minister standing to the side spoke up sarcastically.

A thorough investigation of the Ministry of Revenue may not magically produce grain, but it will certainly find a scapegoat.

Given the integrity of the officials of the Great Yu Dynasty, it would be a miracle if they remained clean once they entered a government office like the Ministry of Revenue.

"Grand Secretary Gao, don't push your luck!"

"If we really lift the lid, none of us will be able to maintain any semblance of dignity!"

Seeing that Gao Jingfeng wanted him to take the blame, Lü Lingfeng couldn't help but threaten him.

(End of this chapter)