In Hongwu, we started as rebels

Chapter 1017 Turning a Loss into a Profit: Seizing the Money Shop

Night had fallen, and the capital city was shrouded in darkness.

The Yingtian Trading Company on Fudong Street was still brightly lit, with busy figures on both floors.

Behind them, the wooden elevator of Yingtian Trading Company slowly rose inside the shaft.

The creaking sound of the rope rubbing together was accompanied by a slight swaying.

This made Liu Sili involuntarily clench the corner of his sleeve.

"Sir, here we are."

The clerk operating the elevator opened the car door.
A breeze carrying the scent of ink and the aroma of abacus wood wafted in.

Liu Sili stepped out of the elevator.

The corridor beneath my feet was spotless.
The pillars on both sides of the corridor were hung with signs for the various branches of the merchant guild.

Grain shops, cloth shops, fruit shops, and tea shops lined up in a row.

He walked briskly along the corridor.

From afar, the clattering sound of an abacus could be heard coming from the conference room.

The moment Liu Sili pushed open the door, the scene before him made him even more nervous.
There were three long pear wood tables in the conference room.
More than twenty accountants sat around the table.

Each person had a thick ledger spread out in front of them.
His fingers flew across the abacus, and he muttered incantations to himself.

In the center of the table were several stacks of freshly tallied accounts, neatly tied together with red string.
A few copper coins collected were stored in a wooden frame in the corner of the room.
Compared to bundles of banknotes, it seemed particularly insignificant.

"grown ups!"

The young accountant by the window saw him first and quickly stood up to bow.

The others also stopped what they were doing and looked up at the former head manager.

Liu Sili waved his hand, his voice tinged with urgency:

"Where's Bian Rong? Has he calculated today's profit and loss?"

"Yes, yes!"

A middle-aged man in a gray cloth gown and with a goatee looked up from the pile of accounts.
It was Bian Rong, the accountant of Yingtian Trading Company.

He was still holding a wolf-hair brush in his hand, his face full of confusion and a hint of strangeness.

Liu Sili walked to his side, glanced down at the draft paper on the table, which was covered with densely packed numbers.
"How's it going? How much did you lose?"

He asked softly, already prepared for a loss.

After all, the exchange rate for paper money to silver was only 70%, so merchants sold goods at the original price.

It's a loss no matter how you look at it, but as long as we can get through this period, that's fine.

Bian Rong rubbed his hands together, his expression becoming even stranger.

It's like wanting to laugh but not daring to.

He pushed the draft paper towards Liu Sili, his voice very low:

"Sir, you...you see for yourself, I've already checked the accounts three times, and I still can't believe it."

Liu Sili frowned, picked up the draft paper, and scanned it from the first line.

The grain store's revenue today was 15,000 strings of cash, with costs of 8,000 strings and a profit of 7,000 strings.

The cloth shop's revenue was 8,500 strings of cash, its cost was 4,000 strings of cash, and its profit was 4,500 strings of cash.
The tea shop had a revenue of 3,000 strings of cash, a cost of 1,200 strings of cash, and a profit of 1,800 strings of cash.
His fingers slid down the numbers, slower and slower, his fingertips trembling slightly.

Finally, it stops at the summary figures at the bottom.

The total profit was 13,300 strings of cash, equivalent to 9,310 taels of silver.

"Ok?"

Liu Sili's eyes widened suddenly.

"You didn't miscalculate? How is that possible?"

"The exchange rate for paper money to silver is only 70%. We're selling goods at the original price, how can we possibly make a profit? And such a large one at that?"

Bian Rong nodded quickly, then shook his head:

"My lord, the calculation was correct!"

"There are just too many guests today, more than three times the usual number!"

As he spoke, he pulled a slip of paper from the ledger and handed it over:
"Look, the grain store sold out of stock in less than an hour after it opened."

Later, another 500 shi (a unit of dry measure) were transferred from the warehouse, but it still wasn't enough to sell.
The stock of fabric was also sold out, and many large buyers paid deposits to order goods for tomorrow.

Liu Sili still couldn't believe it:
"Are the people really that willing to use paper money? Aren't they afraid it won't be worth anything?"

"Of course I'm scared! How could I not be scared?"

Bian Rong laughed, and his voice became louder.

"But they are even more afraid of being taken advantage of!"
As soon as the notice from the Marketplace was posted this morning, no one wanted to miss this opportunity to get a good deal, and people started lining up before dawn.

He paused and added:
"There are also some high-ranking officials and nobles who have a lot of paper money stored in their homes, and they used to complain that the paper money was depreciating."

Today I heard that our trading company only accepts paper money.

Rumors are circulating in the capital that paper money will no longer be used.
Immediately, someone was dispatched. Lord Liu of the Ministry of Personnel's Records Office sent his steward to buy three hundred shi of rice, saying it was to be stored and distributed to the tenant farmers.
Several censors from the Six Ministries also purchased a considerable amount of writing brushes, ink, paper, and inkstones.
The Duke of Wei's mansion bought three hundred bolts of cloth, five hundred bushels of rice, and also ordered sixteen large millstones.

These large clients alone contributed nearly six thousand strings of cash in revenue.

Bian Rong sighed, a hint of emotion in his eyes:

"My lord, there are so many rich people in the capital! It's really not easy to get them to spend their money."

Now, thanks to the matter of the precious paper money, they've actually been willingly opening their wallets.

Liu Sili fell silent, looking down at the striking profit figures on the draft paper, and suddenly remembered what Lu Yunyi had said yesterday:

"If there is no silver in the world in the future, money will be easier to earn."

At the time, he only thought it was absurd, but now he fully understands that Lu Yunyi had long ago figured out the thoughts of the wealthy families in the capital.

"By the way, Lord Liu."

Bian Rong suddenly remembered something and pulled out another slip of paper from the ledger.
"Some merchants came today asking if they could use banknotes to purchase goods from us."

The small grain shops on the outskirts of the city used to buy goods in bulk with silver.

They brought paper money today, saying they want to settle accounts with us in paper money in the future; clearly, they want to take advantage of us.”

Liu Sili took the order, which listed the names of more than a dozen merchants, all of whom were well-known shops in the Beijing area.

Looking at these names, he suddenly had a sudden realization.

This is the true purpose of the Market and Exchange Bureau.
Accepting short-term losses for long-term gains, and collecting banknotes, is ultimately about ensuring their circulation.
From ordinary people to merchants, and then to the powerful and wealthy, it gradually became a habit.

At that time, without the court's forceful promotion, paper money will naturally become the mainstream.

"Okay, okay!"

Liu Sili couldn't help but laugh, all her previous worries vanishing.

He patted Bian Rong on the shoulder, "Organize today's account books and present them to the Market and Commerce Bureau first thing tomorrow morning."

In addition, make it clear to the contact points in each village that...
Let them appease the people; as long as the people don't rebel, the capital won't descend into chaos.

"Don't worry, sir!"

Bian Rong quickly responded, then turned and called out to the accountants:

"Did you all hear that? Quickly sort out the accounts! They need to be reviewed by Lord Lu tomorrow, so don't let anything go wrong!"

The accountants responded in unison, and the clattering of the abacus resumed, even more rapid than before.

At the beginning of Hai hour (9-11 PM), the capital city was already shrouded in deep darkness.

Most of the lanterns along the street were extinguished, leaving only the lamp in the night watchman's hand, casting a faint glow on the bluestone pavement.

North of the city, at the intersection of Beishi Street,
More than ten Imperial Guards, dressed in flying fish robes and with embroidered spring knives at their waists, were walking swiftly along the base of the wall.

The dark robe swept across the ground, leaving only a very faint sound.

Du Pingping walked at the front, not in her usual clothes today, but in a tight-fitting outfit.
Clutching a yellowed piece of paper, it was densely covered with the names of twelve black market locations in the capital that privately exchanged silver notes, with Rongyuan Money Shop in the North City being the first one.

His steps were very steady, his eyes swept over the closed shops on the street, and his lips were pursed into a straight line.

"Sir, Rongyuan Money Shop is just ahead."

Ji Gang, a centurion of the Embroidered Uniform Guard, lowered his voice and pointed to the sign hanging in front of him.

The shop's lanterns had long been extinguished, with only a faint light leaking from the cracks in the second-floor windows.
The sound of an abacus could be faintly heard, indicating that the people inside were still busy.

Du Pingping sneered and raised her hand to signal everyone to stop.

She made a shushing gesture with her fingertips to her lips, and then gave Ji Gang a wink.

Ji Gang understood and took a thin iron hook from his waist.

He crouched low and crept up to the front of the money exchange, then gently hooked the copper lock.

With a soft click, the lock opened.

Du Pingping's eyes showed a hint of satisfaction; scholars really do learn things quickly.

He suddenly waved his hand, and the Imperial Guards filed in.

Their footsteps were so light that they were almost inaudible.

The front hall was deserted; several empty money boxes sat on the counter, and the beads on the abacus were long gone. Du Pingping went up the stairs; the door to the second floor was ajar, and hushed voices could be heard from inside:
"We must hide the silver we collected today well; the Market Exchange Bureau's paper money trick won't last long."

When the price of silver rises in a while,

"Let's exchange the banknotes again and make another profit."

The speaker was Wu Ruifeng, the manager of Rongyuan Money Shop.

He was sitting in the accounting office, flipping through a thick, black ledger.

Sitting next to him was a middle-aged man dressed in silk, Wang Yuanbao, the owner of the money exchange.

On the table in front of the two men was a pile of silver coins half a foot high.

The candlelight cast a cold glow on them, and they all wore smug smiles.

"boom!"

Just then, Du Pingping kicked open the slightly ajar door.

The Imperial Guards swarmed in from behind, their embroidered spring knives drawn, the tips pointed directly at Wu Ruifeng:

"The Imperial Guards are investigating! Don't move!"

Wu Ruifeng and Wang Yuanbao trembled in fright, and the account books in their hands fell to the ground with a thud.

Wang Yuanbao suddenly stood up and tried to run to the window, but Ji Gang grabbed his shoulder and made him unable to move.

"You...you are the Embroidered Uniform Guard?"

Wu Ruifeng's face turned deathly pale, and his voice trembled.

"Our money exchange is a legitimate business; we haven't done anything wrong!"

Du Pingping bent down to pick up the black ledger, opened it, and saw that it was filled with details of privately exchanged silver coins:

"Today, fifty taels of silver were exchanged, and seventy-five strings of paper money were received."

"Master Wang will exchange 300 taels of silver, but will negotiate a 10% discount."

He threw the ledgers on the table, his voice cold and sharp:
"Setting up unauthorized currency exchange points to drive down prices and profit from them, disrupting monetary law—and you call that not a crime?"

Wu Ruifeng's face instantly turned pale, his legs went weak, and he almost knelt on the ground:
"My lord, spare my life! I was foolish and greedy for money. Please, my lord, have mercy!"

"Enough with the nonsense!" Du Pingping waved her hand.

"Tie them up, put away the account books, and take all the hidden silver with you!"

The Imperial Guards acted swiftly, taking out hemp ropes to tie the two men up securely, and then began searching the accounting room.

Ji Gang found a hidden compartment behind the bookshelf.
Upon opening it, it was found to be filled with silver and paper money.

There are also several more secret ledgers.

He kept records of his dealings with several high-ranking officials in the capital, all of which involved using them to privately exchange silver notes.

"Sir, look at this!"

Ji Gang handed over the account book, and Du Pingping flipped through a few pages, her brows furrowing even more deeply:

"Write down all the names, we can look them up later."

After dealing with Rongyuan Money Shop, the group headed to Taihe Money Exchange in the south of the city.

Taihe Bank was more hidden than Rongyuan Money Shop, tucked away in a narrow alley.

The storefront displays a sign for Taihe Cloth Shop, but it's actually engaged in illegal money exchange business.

When Du Pingping arrived with her people,

The door of the bank was still ajar, and the lights were on inside.

"There are two people inside, guarding the counter, seemingly counting silver," the Imperial Guard in charge of the investigation reported back.

Du Pingping nodded and gestured for someone to guard the back door to prevent anyone from escaping.

He then led the others in through the front door.

The two shop assistants behind the counter were counting silver ingots with their heads down when they heard footsteps and suddenly looked up.

Upon seeing that it was a member of the Imperial Guard dressed in a flying fish robe, he was so frightened that he dropped the silver ingots in his hand onto the ground.

"W-what are you going to do?"

Where is your employer?

Du Pingping walked to the counter and tapped the countertop with her fingers.
"Tell him to come out."

The two men looked at each other, neither daring to make a move.

Du Pingping's eyes turned cold, and he said to the Imperial Guard beside him:

"Search!"

The Imperial Guards immediately dispersed and began searching through the money exchange.

Before long, a fat man with big ears was pulled out of the woodshed in the backyard. It was none other than Fatty Sun, the owner of the money exchange.

He was wearing pajamas and clutching a purse in his hand. Upon seeing Du Pingping, he immediately put on a beaming smile.
"Sir, it's a misunderstanding, it's all a misunderstanding!"
"This small bank is just doing some small business; we haven't done anything illegal."

Du Pingping took a piece of paper out of her pocket.
The above is evidence of Taihe Bank's unauthorized exchange of silver notes:
"Last month, you bought the people's paper money at 60% of the price and then exchanged it for wealthy people at 70% of the price."
The profit margin is enough to buy half a shop; is that not illegal?

Fatty Sun's smile froze instantly, his legs went weak and he wanted to kneel, but was held back by the Imperial Guards:

"My lord, I know I was wrong!"

"I'll hand over all the money I've earned, please don't arrest me, sir."

Du Pingping ignored his pleas for mercy and ordered her men to search the premises:
"Search carefully, don't miss any ledgers or silver."

Before long, the Imperial Guards found an iron box in the accounting cabinet.
It contained thick ledgers.
There was also a list recording the daily amount of privately exchanged silver coins and customer information.

There was also a lot of silver hidden in the cellar in the backyard, stored in wooden boxes with seals on them.

"Sir, we've found everything! There are over two thousand taels of silver alone, and these account books too."

Ji Gang came over carrying the iron box, his face showing some anger.

"These heartless shopkeepers are truly despicable!"

Du Pingping took the ledger and flipped through it, her eyes growing even colder:
"Load all of these into the car, and take the people with you to the next place."

As the night deepened, the figures of the Imperial Guards moved incessantly through the streets and alleys of the capital.

From the northern part of the city to the southern part, and then to the eastern part,
One by one, black market outposts were raided, shopkeepers and owners were tied up and taken away, and account books and silver were loaded onto carts and transported away.

Du Pingping hadn't rested the whole way, her face expressionless, only the bloodshot eyes revealing her exhaustion.

Just before dawn, the group returned to the Jinyiwei stronghold.

Looking at the gradually brightening sky, Du Pingping said to Ji Gang:

"Let's take stock of how many people we arrested today, and how much silver and ledgers we seized."

Ji Gang quickly took out paper and pen to write it down:

"Sir, we raided twelve strongholds in total and arrested forty-three people, including six managers, five owners, and thirty-two employees."

The search yielded 18,600 taels of silver and 13,000 strings of paper money.

There were also thirty-seven ledgers, all recording the details of the private transactions.

Du Pingping nodded and let out a long sigh:

"The people have been imprisoned, the account books have been organized, and I will personally present them to His Majesty at dawn."

These people are disrupting the financial system; they must not be let off lightly!

"Yes!"

The crowd responded in unison, their voices filled with excitement.

As dawn broke, the vermilion gates of the Wuying Hall exuded an oppressive somber atmosphere.

A thin layer of frost covered the white marble railings outside the hall.
The eunuch on duty stood with his hands at his sides under the eaves.
She even breathed very softly, her eyes constantly stealing glances at the palace.

Du Pingping carried the wooden box containing the account books, her steps extremely light.

He worked all night last night, and his eyes are dark circles, but he dares not slack off in the slightest.

After being informed, he strolled into the hall, where a chill swept over him.

The light was still dim, with only the candles on the imperial desk burning brightly.

The light cast a shadow on half of Zhu Yuanzhang's face, making his jawline appear taut.

Below him stood a figure dressed in the brocade robes of a duke, none other than Lan Yu, the Duke of Liang.

He frowned, clutching a memorial in his hand, and an upside-down celadon teacup lay at his feet, tea stains spreading across the gold bricks, clearly indicating a dispute had just taken place in the hall.

"Your subject, Du Pingping, pays respects to Your Majesty."

Du Pingping quickly bowed and bowed deeply.

Zhu Yuanzhang didn't respond immediately, but merely raised his eyes:
"stand up."

Du Pingping straightened up and placed the wooden box on the ground.

He opened the ledgers and lists, then handed them over with both hands.
"Your Majesty, these are the pieces of evidence seized by the Embroidered Uniform Guard last night."

These were all money shops and banks in the capital that privately exchanged paper money, gold, and silver; their account books detailed their manipulation of the monetary system.

(End of this chapter)