In Hongwu, we started as rebels

Chapter 1011 The Ming Dynasty Will Perish Within Fifty Years
Zhu Yuanzhang sat at the head of the table, silently looking at Yan Zhenzhi, and said calmly:
"speak."

"Your Majesty, the official road from Beiping to Yingtian is currently in need of repair."

Henan is suffering from floods that need to be addressed, and workshops need funds to expand production; money is needed everywhere!
Last month, I visited the quarry in Xuzhou and saw that some workers were already considering quitting because they hadn't received their wages.

The laborers working on flood control in Henan also said they would only accept silver, otherwise they would refuse to work.

The paper money allocated by the Ministry of Revenue piled up in the treasury and became worthless.

Even if I possessed extraordinary abilities, I couldn't mobilize the materials and labor!

He became more and more anxious as he spoke, and leaned forward again:
"I do not agree with abolishing paper money, but I think it is better to suspend the printing of paper money for the time being!"

The silver used for printing the precious paper money this year

If saved, it would be enough to cover the initial labor costs and stone transportation fees for the official road.

People already use silver and copper, so suspending printing won't disrupt the market.

It is not too late to discuss monetary reforms once the political situation stabilizes in the future.

If there is any further delay, road construction and flood control will have to be halted.
At that time, public resentment will boil over, which will only damage His Majesty's prestige!

Yan Zhenzhi's voice was powerful and resonant, like a stone thrown into calm water.

The hall became lively again, with officials from the Ministry of Works nodding in agreement.
They dealt with materials and wages every day, and knew best the difficulties of paper money.
The officials from the Ministry of Revenue frowned. Some wanted to speak up in rebuttal, but Fu Youwen stopped them with a look.

Zhu Yuanzhang's face darkened again.

Yan Zhenzhi's words may have been exaggerated, but they were by no means unfounded.

Suspending the printing of paper money is just one step away from abolishing it.
If this precedent is set, it will only become more difficult to restore the paper money system in the future.

"His Majesty!"

Another voice rang out; it was Yang Jing, the Minister of Justice. He bowed and said:

"I believe that what Minister Yan said is feasible."

This year, there has been a drought in the Jiangnan and Zhejiang regions.

If the money saved from suspending the printing of paper money is used to provide disaster relief, it can alleviate the hardship of people in both places.

Regarding the matter of the precious paper money, rather than stubbornly resisting, it's better to go with the flow and address the immediate crisis first.

As soon as Yang Jing spoke, many officials echoed his sentiments.

Zhu Yuanzhang remained silent for a moment before finally speaking, his voice revealing neither joy nor anger:
“What Yan Qing and Yang Qing said also makes sense.”

The Ministry of Revenue's Fu Youwen, the Ministry of Works' Yan Zhenzhi, and the Ministry of Justice's Yang Jing jointly discussed the matter.
Within three days, the advantages and disadvantages of suspending the printing of paper money, as well as the plan for allocating the saved funds, will be submitted to the emperor.

Other officials, if they have any suggestions, may submit their memorials to the Hanlin Academy. We will disperse for now.

No sooner had the words been spoken than a gasp of surprise rang out from inside the hall.

"His Majesty!"

Everyone looked in the direction of the voice and saw that it was Kong Tianzong, the Right Vice Minister of the Ministry of Revenue. They were all surprised.

"Is there anything else, Minister Kong?"

"Your Majesty, I have a matter to report concerning the nation's taxes!"

Zhu Yuanzhang frowned:
"read."

"His Majesty!"

Kong Tianzong took half a step forward, his scarlet official robe sweeping across the gold-brick floor:

"Your Majesty, I, Kong Tianzong, the Vice Minister of the Ministry of Revenue, respectfully submit this memorial to Your Majesty, requesting the revision of the tax laws and the replenishment of the national treasury!"

Zhu Yuanzhang's gaze fell on Kong Tianzong, with a mixture of scrutiny and inquiry:
"Send it up."

When the eunuch took the memorial and unfolded it, the officials in the hall all held their breath.

Kong Tianzong cleared his throat, his voice more steady than before:

"I have heard that the lifeblood of a nation lies in taxes, and the quality of taxes determines the fate of the people and the nation."

For over twenty years since our dynasty was established, the tax system has remained unchanged from the previous Yuan dynasty.

Taxes were levied in two installments, summer and autumn, including millet, cloth, and paper money, along with corvée labor.

At first, the people were at peace with it, but over time problems arose.

Firstly, the levies imposed by the prefectures and counties were excessive.

Summer taxes were levied on millet, and autumn taxes on silk. However, floods and droughts were unpredictable, and the abundance or scarcity of millet and silk was uncertain, yet the prefectures and counties still insisted on collecting the fixed amounts.

Those who suffer from poor harvests must exchange their produce at a higher price.
The clerks and officials then embezzled funds, demanding two strings of cash for every shi (a unit of dry measure) of millet, a burden the people could not bear.

Secondly, the transmission losses are too great.

The grain transported from Jiangnan to Beiping was a journey of a thousand miles, and three or four tenths of it was lost during the transport.

To compensate for the losses, the prefectures and counties levied additional taxes on rice, ostensibly as subsidies, but in reality, it was an exorbitant levy.

Third, many businesses conceal commercial taxes.

In recent years, the merchant guilds of Yingtian, Suzhou, and Hangzhou have flourished.
For example, the Yingtian Trading Company paid 200,000 taels of commercial tax annually, accounting for half of the nation's total commercial tax revenue.
However, most of the other merchant houses were controlled by powerful families, who concealed their capital and evaded taxes.
Of the ten, only three or four were paid, resulting in the loss of most of the national revenue.

The imperial court's annual expenditures are enormous; the official road to Beiping requires three million taels of silver, and flood control in Henan requires ten million taels.
The border troops' provisions and pay required 400,000 taels of silver. If it weren't for the support of taxes paid by the government and merchants, they would have been in dire need of funds.

In my humble opinion, to resolve the national expenditure crisis, three measures should be implemented!

These words caused the officials present to frown even more deeply.

A hint of coldness appeared in his eyes as he looked at Kong Tianzong.

Most of the officials present had businesses in their families.

Reforming tax laws and tightening commercial taxes undoubtedly undermines their foundation!
Noticing the gazes around him, Kong Tianzong took a deep breath and continued:

"First, reform the tax law and implement the Single Whip Law."

The taxes and corvée labor of a prefecture or county were calculated based on the land area and the number of people, and all were collected in silver by the government.

Apart from commercial taxes, land taxes, corvée labor, and miscellaneous levies were all paid in silver, and no more grain, silk, or paper money were allowed to be levied.

In this way, taxes and corvée labor will be unified, officials will have no opportunity to embezzle, and the people will be spared the hardship of transportation.

Secondly, strict commercial taxes and accurate accounting of funds.

Imperial censors were dispatched to inspect merchants in various regions, verify the amount of capital, and levy taxes at one-tenth of the capital.

Those powerful and wealthy individuals who go into hiding will have half of their property confiscated, while merchants who pay taxes according to regulations will be exempt from miscellaneous duties.

In this way, commercial taxes will be plentiful, and the national treasury will be self-sufficient.

Third, stop accepting banknotes and focus solely on collecting cash.

Nowadays, people mostly use silver and copper, and paper money is almost worthless.

After land taxes and corvée labor were converted into silver, they were directly sent to the capital without being converted into paper money, thus saving the cost of printing and avoiding the harm of paper money devaluation.

If these three strategies are implemented, the annual silver expenditure could increase by ten million taels, while saving one million taels in losses.
It is sufficient to support the needs of road construction and flood control, so that the people can live in peace and the country can be secure.

"Though I am foolish and dull-witted, I am deeply grateful for Your Majesty's great kindness and dare not remain silent. I humbly beseech Your Majesty's wise judgment!"

As the last word fell, the Fengtian Hall became eerily quiet.

The officials did not whisper to each other.
He simply stared at Kong Tianzong with an incredulous look.
Is this person crazy?

Will all land taxes and corvée labor be converted into silver?

They want to crack down on commercial taxes too? Isn't that just driving the country into chaos?!
"His Majesty!"

Li Yuanming took a step forward, his aged voice filled with fury:
"Tax laws are an ancestral system that has been in use since the founding of the nation. How can they be easily changed?"

The Single Whip Law converted all taxes and corvée labor into silver, but most ordinary people relied on farming for a living, so where would they get so much cash?
This will inevitably force ordinary people to sell their land and houses, and even their children, to pay taxes. At that time, public resentment will rise, and chaos may ensue!

Fu Youwen also quickly stepped forward, his voice tinged with urgency:

"Your Majesty, Minister Li is absolutely right!"

Having served in the Ministry of Revenue for many years, I am well aware of the actual situation in the localities.
In Henan, Shandong, and other places, ordinary people mostly bartered goods with millet and silk.

One tael of silver could be exchanged for five shi of millet, but when prefectures and counties converted silver, they often calculated it as one tael for three shi.

If commoners cannot pay their taxes, the clerks will forcibly seize their property. This policy is truly a recipe for national chaos!

A buzzing sound immediately filled the hall, with voices of opposition rising and falling.

Zhu Yuanzhang sat on the dragon throne, his face gradually darkening.

It was even worse than when I listened to the memorial from Baochao.

Born into a farming family in Haozhou, he knew best the methods of local officials. Kong Tianzong's claim that officials did not embezzle was pure empty talk!
If all taxes and corvée labor were to be converted into silver, the world would inevitably descend into chaos sooner or later.

Gao Chang, the Vice Minister of Rites, spoke in a deep voice:
"Your Majesty, I have something to say. The Single Whip Law mentioned by Minister Kong is not entirely without merit."

Nowadays, many local officials and clerks take advantage of tax collection to extort money from their subordinates.
When summer taxes were levied on grain, the scales were weighed down; when autumn taxes were levied on silk, the people had to be picked over. The common people suffered terribly.

If all taxes and corvée labor could be converted into silver and collected by the government, at least the ways in which clerks could skim silver from scales and embezzle silk from cloth could be cut off, which would be beneficial to a clean and efficient administration.

He paused, his gaze sweeping over the local officials below him, his tone softening slightly:

"However, the matter of converting silver must be handled with utmost care."

Ordinary people mostly make a living by farming and rarely have cash at home.

If forced taxation is to be levied, the prefectures and counties must be required to establish silver shops.

Ordinary people were allowed to exchange millet and silk for silver, and were not permitted to lower the price.

Otherwise, as Minister Li has said, it might truly lead to chaos throughout the land.

As soon as he finished speaking, Shao Yongshan, the Vice Minister of War, leaned forward:

"Your Majesty, I second that proposal!"
The northern border army currently requires 400,000 taels of silver annually for its supplies.

Last year, due to the devaluation of the paper money, the soldiers on the border were unable to exchange their pay for silver, leading to complaints from the troops. If Vice Minister Kong's method could increase the silver supply, it would at least alleviate the border troops' immediate crisis.

He then changed the subject, adding a few more concerns:
"However, the issue of strict commercial taxes needs to be addressed differently."

Yingtian Trading Company and the trading companies under the Market Exchange Bureau have been paying taxes in accordance with regulations.
If all are investigated strictly, it might discourage merchants.
However, those privately established trading companies by powerful figures who conceal their capital and evade taxes should indeed be investigated.

Your Majesty, I believe we should first investigate the powerful merchant guilds.
The re-evaluation of government-owned businesses will be temporarily suspended to reassure the public.

Discussions arose again inside the hall, this time with more voices of agreement.
Many officials knew about the lack of pay for the border troops, but no one dared to bring it up in court.

"His Majesty."

Minister of War Ru Chang's voice prevailed over the whisper:

"I believe that the Single Whip Law can be piloted."

The Jiangnan region has a high concentration of merchants, making it easy for ordinary people to exchange silver. It is advisable to first implement this system in Suzhou and Hangzhou for six months to observe its advantages and disadvantages.

If the common people are undisturbed and tax revenue increases, then this can be extended nationwide.
If it causes public resentment, it should be abolished immediately.

This approach, which neither violates ancestral rules nor prevents the experimentation of new methods, is the safest course of action.

At this moment, Prefect Gao of Yingtian Prefecture also spoke softly:
"Your Majesty, I am in charge of the civil administration of Yingtian and am well aware of the drawbacks of the current system."

The grain transport around Yingtian loses 100,000 shi (a unit of dry measure) of millet annually, mostly due to embezzlement by local officials.
If the single-whip method were implemented, and the goods were delivered in silver, half of the losses incurred during the canal transport could be saved.

"Nonsense! This is all nonsense!"

Li Yuanming, who had been silent all along, suddenly raised his voice, his white beard trembling with anger:
"While it is easy for ordinary people in Jiangnan to exchange silver, what about those in Henan, Shanxi, Shaanxi, and Shandong?"

Last year, Henan suffered a severe drought, and ordinary people didn't even have enough millet to eat.

They still need financial assistance from the imperial court; where will they get the money to pay taxes?

When the government forcibly requisitions them, ordinary people will have no choice but to sell their children—isn't this just like the scene at the end of the Yuan Dynasty?

He became increasingly agitated as he spoke, his voice trembling:

"Commercial taxes must not be strictly enforced!"
Scholars, farmers, artisans, and merchants—commerce was the least important of all professions, yet it remained fundamental to people's livelihoods.

If merchants are severely punished, who would dare to do business?
Goods from all over the world are blocked, and the common people have no way to survive! Lord Kong, your heart is despicable!

Li Yuanming was a leading figure in the literary world, highly respected and virtuous.
As soon as he spoke, many officials calmed down, and the emotions stirred up by the tens of millions of taels of silver gradually subsided.

The governors of the governor's office exchanged strange glances.
They were in charge of military affairs, but knew absolutely nothing about finance and taxation.
Speaking rashly will only lead to saying the wrong thing; it's better to wait and see.

Zhu Shou stood at the front of the Governor's Mansion's procession, looking at his silent colleagues behind him.
I felt a sense of disappointment and frustration; no wonder others said that soldiers were rough and uncouth.
It's absurd that no one dared to speak up in such a crucial situation!
The silence in the hall lasted for a moment.

Zhu Yuanzhang finally spoke, his voice revealing neither joy nor anger:
"This matter will be discussed further. Court is adjourned."

Inside the office of the Market and Commerce Bureau, Lu Yunyi suddenly raised his head.

Looking at Wen Cheng standing in front of him, his expression became extremely serious:

"Abolish paper money? Implement the Single Whip Law?"

Who played it?

His voice was icy as he stared intently at Wen Cheng.

"First, He Zicheng, who had retired from officialdom, submitted a memorial proposing to abolish paper money and replace it with silver."
Later, Kong Tianzong, the Right Vice Minister of the Ministry of Revenue, petitioned for the implementation of the Single Whip Tax Law, and also requested that a tax of one-tenth of the value of goods be levied on businesses!

Wen Cheng frowned, keenly sensing the strangeness in the situation:

"Lord Lu, the court is in a heated argument, with both sides sticking to their own versions of events."
In the end, His Majesty said nothing and adjourned the court.

Lu Yunyi's mind cleared instantly.

It is no coincidence that He Zicheng submitted his memorial to the throne immediately after resigning from his post and leaving the capital, and that Kong Tianzong dared to propose tax law reforms as soon as he took office!
The previous plots by the rebels to murder the crown prince and their land speculation to create panic were all aimed at disrupting the court and preventing the relocation of the capital.
Now they're targeting monetary and tax laws.
They clearly wanted to create chaos in the imperial court's finances.
At that time, the court will be in chaos, and who will still think about moving the capital!
"What a traitorous party! What a disastrous law that disrupts the country!"

Lu Yunyi slammed his hand on the table, his whole body radiating murderous intent:
"Lord Wen, where is His Majesty now?"

He suddenly looked up, his tone urgent, and the veins on his forehead bulged.

"His Majesty returned to the Wuying Hall after the court session."

Lu Yunyi turned and walked out, his steps hurried:

"Hou Xian, summon Lord Han to the front courtyard immediately. He's coming with me to the Wuying Hall!"

Han Yike serves as the Deputy Director of the Municipal Affairs Bureau.
These days have been quite leisurely.

Hearing that Lu Yunyi was going to see His Majesty immediately, he hurriedly followed and ran outside, asking as he ran:

"Lord Lu, what happened? Why are you in such a hurry?"

"The world is about to descend into chaos!"

The two quickly arrived outside the Wuying Hall.

Lu Yunyi cupped his hands in greeting to Guo Ying and then strode into the hall, with Han Yike following closely behind.

Seeing his anxious expression, the eunuch outside the hall dared not stop him and quickly lifted the curtain to announce his arrival:

"Lu Yunyi and Han Yike from the Market and Commerce Bureau request an audience with Your Majesty!"

"Come in."

Zhu Yuanzhang's voice came from inside the hall, still carrying a hint of calm.

"Your subjects Lu Yunyi and Han Yike pay their respects to Your Majesty!" The two bowed in greeting.

Zhu Yuanzhang raised his eyes and put down the memorial in his hand:

"Give me a seat."

The head eunuch immediately brought over two chairs.
But Lu Yunyi didn't sit down; instead, he said in a deep voice:
"Your Majesty, I have come regarding the court assembly!"

I have heard that someone has petitioned to abolish paper money and implement the Single Whip Law.

Zhu Yuanzhang paused, a knowing glint in his eyes, but said nothing, only gesturing for him to continue.

"His Majesty!"

Lu Yunyi's voice suddenly rose, carrying a hint of urgency and anger:
"Abolishing paper money and implementing the Single Whip Law are laws that will bring chaos to the country! They are absolutely unacceptable!"
Anyone who brings this matter up again should be immediately dragged out of the Meridian Gate and beheaded; there will be no mistake!

Han Yike, who was standing nearby, also quickly bowed:
"Your Majesty, the Market and Commerce Bureau oversees all the merchants and workshops in the land. They are well aware of the drawbacks of paper money, but they also know its value!"

"The imperial banknotes are the foundation of the court's finances; they must never be abolished!"

Zhu Yuanzhang chuckled softly, his gaze falling on Lu Yunyi:
"Tell me, how is this a law that disrupts the country?"

Kong Tianzong said that it could increase the annual silver yield by ten million taels, which sounded like a good thing.

"Your Majesty! The promise of increasing the silver supply by ten million taels is a lie; the reality is that it will bring chaos to the country!"

The people of the world grow grain, and the taxes they pay should also be in the form of grain.
If paying in silver is absolutely necessary, even the simple act of exchanging silver hides a huge scheme!

Lu Yunyi added urgently:
"I am not boasting, but if I were to handle this matter..."
To increase annual income by tens of millions of taels of silver without disrupting people's livelihoods, all that is needed is to add one coin of rice when purchasing rice and raise the price by one coin when selling rice!
Although this method may yield short-term profits, it is a short-sighted approach and cannot be sustained!
In addition, the abolition of paper money,
I, your humble servant, guarantee with my life that the Ming Dynasty will perish within fifty years!

"presumptuous!"

Zhu Yuanzhang's angry roar exploded like thunder in the Wuying Hall.

The head eunuch in the hall knelt down with a thud, his face deathly pale, not daring to even breathe loudly.

Han Yike trembled with fear and immediately knelt down, cold sweat instantly beading on her forehead.

The statement "The Ming Dynasty is doomed" is utterly audacious!

Only Lu Yunyi was still standing.

His back was ramrod straight, and his official robes swayed slightly at his sides.

He met Zhu Yuanzhang's murderous gaze,

Instead of backing down, he took half a step forward, his voice still firm, even carrying a hint of earnestness:

"I am not exaggerating, but speaking from the bottom of my heart!"

I oversee all the merchants and workshops in the land, dealing with money every day.

"He understands best the power over currency, for it is the most vital lifeline of the imperial court!"

Zhu Yuanzhang stared at Lu Yunyi, but did not stop him again.
He wanted to hear what else this kid dared to say.

Lu Yunyi's voice softened slightly, but sounded even more solemn:

"Although the paper money has the disadvantage of devaluation, it is printed by the imperial court and is the currency of the world granted by the imperial court!"

Private merchants may dare to refuse to accept the goods, but they dare not disregard its official status.
Officials distributed salaries, prefectures and counties collected taxes, and border troops received their pay.
Even if it's converted into silver, it must be calculated according to the face value of the paper money. This is the rule of the imperial court, the foundation of the court!

"But what about the silver? Your Majesty, you were born in Haozhou, so you know best who controls all the silver in the world!"
Since the late Song Dynasty, the imperial court had amassed wealth among the people.

There are countless people in the world with a fortune of millions, and the silver in their hands is a hundred times more than the imperial court has accumulated in twenty years!
Once the paper money is abolished and silver is used instead, the imperial court will completely lose its control over currency!

Han Yike quickly added from the side:
"Your Majesty! In the last land speculation incident, at least ten million taels of silver flowed into the capital from both the north and south."

The imperial treasury held only a meager six million taels of silver; comparing the two, it was clear which was more important!

Zhu Yuanzhang's breathing gradually calmed, and the anger in his eyes subsided somewhat.

"continue."

"Thank you, Your Majesty!"

Lu Yunyi breathed a sigh of relief, but dared not relax, and continued:
"If paper money were abolished, and the world switched to copper coins and silver, supplemented by barter, it might still be able to sustain itself for two hundred years, as was the case during the Han Dynasty."

However, if the Single Whip Law were adopted, the legal status of silver might enjoy a temporary period of prosperity.
However, as the wealth of the people was gradually depleted, the imperial court could only sit idly by and exhaust its resources.

Once the silver reserves are exhausted, the imperial court will be unable to raise any more money, no matter how hard it tries.

If the imperial banknotes were still in existence, even if the value was reduced to one-tenth, the court would still have money to use.

The great chaos that has now ended has only lasted for twenty years.

The north and south have not yet fully reconciled, and Yunnan and Guizhou have only recently begun the process of replacing native chieftains with centrally appointed officials.
If the imperial court lacks the funds to support its military, rebellion will inevitably erupt within ten years.
War has broken out again across the land; the battle for supremacy is about to begin once more!

(End of this chapter)