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With the banner of the "Da Ming Supply and Marketing Cooperative" planted throughout every bustling town and remote countryside of the empire, an unprecedented physical commodity circulation network has been woven.

Millions of people, from high-ranking officials to farmers, have developed intricate connections with the supply and marketing cooperatives in their daily lives.

Just as this massive network was operating at full speed, a more covert and far-reaching transformation, orchestrated by Suning, quietly began.

In Nanjing, inside the magnificent headquarters of the "Great Ming Supply and Marketing Cooperative," in a secret room with even tighter security than the governor's office, Su Ning and Zhou Zhengjie were having a conversation that would determine the future of the empire's finances.

“Cousin, the supply and marketing cooperative network is complete and well-developed. Now, it’s time to infuse it with a soul.” Su Ning pointed to the mountain of silver transaction data compiled by the branches from various regions in the ledgers. “Look, the daily cash transactions between the branches and suppliers, and between the branches and the people, are enormous, cumbersome, and extremely risky. More importantly, a large amount of silver is tied up in the circulation process and cannot be effectively utilized.”

Zhou Zhengjie nodded with deep feeling: "That's true. Especially for large transactions, it is often necessary to use carts and horses to transport boxes of silver ingots, which is not only ostentatious but also requires hiring a large number of guards, making it very costly. Although there are bank drafts from various banks in the private sector, their credibility varies, their circulation is limited, and the remittance fees are quite high."

“Therefore, we can no longer rely on these old, fragmented financial methods.” Su Ning’s eyes were blazing. “We must establish our own ‘Daming Money Shop’! Relying on the nationwide network of supply and marketing cooperatives, we will issue our own ‘vouchers’ and ‘banknotes’!”

"How to do it exactly?"

Under Suning's direct guidance, top-tier design and anti-counterfeiting technologies from industrial spaces were put into application.

The so-called "Da Ming Qian Zhuang" actually had its core printing plant and design center hidden within the industrial space.

The "voucher," a tool for small-amount circulation, is made of special cotton paper that feels thick and durable.

The design is exquisite and intricate, with the building of the "Daming Supply and Marketing Cooperative" as the main image on the front, complemented by fine background patterns and miniature text.

The reverse side features a freehand painting depicting a corner of the Ming Dynasty landscape.

The denominations are divided into four small denominations: one cash, five cash, ten cash, and fifty cash, and it is clearly stated that "this coupon can be exchanged for goods or services of equal value at any Daming Supply and Marketing Cooperative".

In terms of anti-counterfeiting, it adopts technologies that are almost impossible to imitate in this era, such as watermark (the words "Da Ming Gong Xiao" are faintly visible inside the paper), metal security thread (extremely fine metal wires embedded in the paper), and a special color-changing ink that will show subtle color changes under different lighting conditions.

The design of the large-value transaction certificate, the "silver note," is more grand and solemn, using higher-grade security paper and featuring more complex patterns that incorporate traditional auspicious motifs such as dragons and phoenixes. It also incorporates micro-engraving techniques that are extremely difficult to imitate.

The face value of the banknotes is divided into various denominations such as one tael, five taels, ten taels, fifty taels, and one hundred taels.

In terms of anti-counterfeiting, in addition to all the anti-counterfeiting features of vouchers, it also adds intaglio printing technology patterns that have a strong tactile feel, as well as a unique code generated by a special algorithm for each voucher. All codes and corresponding redemption information are recorded by the AI ​​system in the top-secret ledger of the "head office".

These exquisitely crafted paper vouchers, resembling works of art, boast anti-counterfeiting technology that is a game-changer in this era.

……

The promotion strategy of "Da Ming Qian Zhuang" was consistent with the expansion of the supply and marketing cooperatives, being both steady and aggressive.

It was first implemented within the supply and marketing cooperative system.

People are encouraged to receive "vouchers" or "banknotes" directly when selling agricultural and sideline products, and to use them immediately at the supply and marketing cooperative.

Because of its clear purchasing power, portability, and the backing of the "supply and marketing cooperative" brand, it quickly became popular among farmers and small vendors who frequently dealt with supply and marketing cooperatives.

Suning has begun to distribute a portion of the salaries of all its employees, including supply and marketing cooperative employees, miners, and ironworks craftsmen, in the form of "vouchers" to encourage them to adopt this practice.

When shopping at the supply and marketing cooperative, customers can enjoy a small discount or earn points by using "vouchers" or "bank drafts" for payment.

This move greatly stimulated the enthusiasm of ordinary citizens to exchange and use the currency.

Suning has strict regulations that money shops must guarantee that they can unconditionally and fully redeem the goods or silver behind these paper coupons at any time and at any branch.

This strong ability to accept payments is the cornerstone of credit.

Thus, a strange phenomenon began to emerge: in the rice-producing regions of Jiangnan, farmers exchanged several bags of rice for a set of gold vouchers, which they then used to buy a few feet of new cloth for their daughters; at the canal wharves, laborers received gold vouchers as wages and then used them to buy wine and meat at the supply and marketing cooperative's sales points; even small-scale settlements between some small and medium-sized businesses began to use the more convenient "Da Ming Qian Zhuang" silver notes.

Behind these seemingly convenient measures lies Suning's deeper control over the economy of the Ming Dynasty.

Although "vouchers" and "banknotes" were nominally exchange certificates, when their circulation and acceptance were wide enough, they actually played the role of regional currencies.

Suning indirectly obtained some currency issuance rights through Daming Qianzhuang.

The paper vouchers held by ordinary people and merchants meant that the corresponding real gold, silver, or goods of equivalent value were deposited in the vaults and warehouses of the money shops.

This massive amount of interest-free capital has become the "lifeblood" that Suning can mobilize to make larger-scale investments.

By using the circulation data of paper coupons, Suning can grasp the flow of goods, commercial activity, and even the regional economic climate of the empire more clearly than anyone else, which is more accurate and core than commercial data.

By controlling the issuance of paper coupons and adjusting the acceptance policy, Suning has implicitly gained the ability to influence the tightness of credit in the market and regulate prices.

This financial sword is far more powerful than any administrative order.

While the Longqing Emperor and the Ministry of Revenue officials were still racking their brains over the annual grain tribute and the silver inflows and outflows of the Imperial Treasury, a brand-new financial system, which they may not have fully understood yet, had already taken deep root in the soil of the empire's economy like the roots of a plant, quietly growing and spreading in all directions, under the cover of the "Great Ming Supply and Marketing Cooperative".

Suning not only controlled the circulation of goods, but also began to weave a huge financial network covering the entire Ming Dynasty, with credit as its thread.

This silent transformation will have a far-reaching impact, far exceeding the outcome of a war or a court dispute.

……

In the early spring of the fourth year of the Longqing reign, the ice and snow melted and all things came back to life.

The city of Beijing was also particularly bustling because of the triennial "Grand Assessment" (a comprehensive assessment of officials in the Ming Dynasty, with officials outside the capital being assessed every three years).

High-ranking officials and regional governors from various provinces gathered in the capital, awaiting the final assessment that would determine their careers.

The most eye-catching among them was undoubtedly Su Ning, the governor of Yingtian, who was only in his early thirties but had already been in charge of the fertile Jiangnan region for three years.

Outside the Ministry of Personnel, carriages and horses rumbled, while inside, a solemn atmosphere prevailed. The officials of the Performance Evaluation Department were buried in mountains of documents, among which the evaluation materials concerning Su Ning filled several large boxes.

"Gentlemen, how should we determine the performance evaluation of Su Ning, the governor of Yingtian?" The Left Vice Minister of the Ministry of Personnel, who was in charge of this major assessment of officials outside the capital, looked around at his colleagues and spoke slowly.

The room was immediately filled with discussion, with opinions sharply divided.

A physician opened a "consultation" document issued by the Nanjing Metropolitan Procuratorate and the Six Ministries of Nanjing, and said loudly: "Governor Su has served for three years and his achievements are remarkable and obvious to all! First, taxes have increased significantly. Among the provinces in Jiangnan, only Nanjing, where Yingtian is located, has seen commercial and market taxes rise sharply year after year, setting a record last year and contributing huge sums to the national treasury. This is a contribution to 'enriching the country'!"

Another official added: "Secondly, the people's livelihood was stable. The implementation of the 'supply and marketing cooperatives' system stabilized prices and made things convenient for the people, almost eliminating the lament of 'rice as precious as pearls and firewood as expensive as cinnamon.' The recruitment of craftsmen, the opening of mines and factories, the resettlement of displaced people, and the prosperity of the market are all achievements of 'pacifying the people'!"

"Thirdly, the administration was revitalized." Another person chimed in, "Governor Su used the old method of 'clearing accounts' to rectify the administration, impeaching and dismissing dozens of corrupt and incompetent officials, which cleaned up the atmosphere in the officialdom. Moreover, his own integrity was well known; he even packed up bribes and sent them to the capital. Such conduct is exemplary!"

However, the voices of opposition are equally sharp.

One of the censors scoffed, "Taxes have increased dramatically? Who knows if there's any exploitation of merchants and the people, or any profiteering at the expense of the people! The scale of those 'supply and marketing cooperatives' is staggering, almost monopolistic, causing countless traditional businesses to go bankrupt. This is not a political achievement, but a hidden danger!"

Another censor said, "While opening mines and setting up factories is certainly profitable, gathering thousands of craftsmen can easily lead to trouble. Moreover, I've heard that he employs many cronies, and the 'Great Ming Bank' is even more suspicious, using paper instead of silver to disrupt the financial system. Is this the way to maintain stability?"

“Indeed,” someone echoed, “His actions are too cruel and unconventional, which may not be a blessing for the country. Moreover, he is so young and has already attracted criticism for rising to such a high position. If he is further rated as top, it may encourage his arrogance!”

For a time, a heated debate broke out inside the Ministry of Personnel.

Su Ning's performance evaluation has gone beyond a simple assessment of political achievements, stirring up the nerves of different factions and ideologies within the court.

The controversy was eventually brought before the cabinet and the Longqing Emperor's desk.

The second-ranking official, Zhang Juzheng, remained silent as he read the reports detailing the dispute between the two sides.

Grand Secretary Xu Jie remained silent as he read the reports detailing the dispute between the two sides.

As Suning's mentor and father-in-law, he needed to avoid suspicion, but deep down, he had a complex and somewhat admiring view of his grandson-in-law's actions.

Second Grand Secretary Zhang Juzheng, on the other hand, remained relatively detached. He carefully reviewed the annual tax and grain reports of Southern Zhili provided by the Ministry of Revenue and the summary of the security situation in Southern Zhili provided by the Ministry of Justice. Finally, in a cabinet meeting, he gave his opinion: "Governor Su may act differently from ordinary people, but his remarkable achievements are a fact. In terms of taxation, people's livelihood, and official conduct, which are the three major aspects emphasized by the performance evaluation system, he has performed exceptionally well. If we follow the old ways and suppress his achievements, I fear it will discourage those who are truly capable and responsible from taking charge."

What truly tipped the scales was a series of cold and powerful data, as well as Emperor Longqing's own judgment.

During the imperial conference, the Longqing Emperor listened to the debate between the two sides and suddenly asked the Minister of Revenue, "Minister Liu, how much has the amount of silver sent from Southern Zhili to the Imperial Treasury increased in the past three years compared to the same period of the previous three governors?"

Liu Tiqian stepped forward, bowed, and replied, "Your Majesty, the increase...is more than one and a half times."

The Longqing Emperor then asked, "Feng Bao, does the Nanjing Censorate have any reports regarding the peasant uprising in Southern Zhili?"

Feng Bao whispered from the side, "Your Majesty, in the past three years, there have only been two small-scale salt smuggling disputes, which is less than eleven times that of other provinces."

The Longqing Emperor nodded and asked no further questions.

He recalled the "naive young man" who had delivered the bribe box three years ago, the huge amount of tax silver that Jiangnan had steadily provided over the past three years, and the comment in the reports circulating in the market that "the people do not know hunger."

As an emperor who desired stability and financial abundance, he knew what kind of officials he needed.

A few days later, the "Grand Plan Notice" was posted in front of the Ministry of Personnel.

Countless eyes searched anxiously, and finally, at the very top of the "superior" list, they saw that name that was both expected and yet seemingly unexpected—the Governor of Yingtian, Su Ning!

"It truly is top-quality!"

"Tsk tsk, to receive such an honor in less than three years, the Emperor's favor is truly abundant!"

"It seems that he'll still be the one to oversee that precious land of Jiangnan..."

The news spread like wildfire throughout the officialdom and reached Yingtian with the utmost speed.

When the Ministry of Personnel officials, adorned with red ribbons and colorful decorations, delivered the official edict of performance evaluation to the Nanjing Yingtian Governor's Office, the entire office erupted in excitement.

The officials stepped forward to offer their congratulations, feeling honored as well.

Dressed in official robes, Su Ning respectfully accepted the imperial decree and expressed his gratitude, his expression calm and showing little elation.

He knew that this "superior" assessment was not only an affirmation of his work over the past three years, but also an invisible talisman and catalyst.

Zhou Zhengjie privately hosted a banquet to celebrate for him, excitedly saying, "Anbang, with this assessment, your position in Jiangnan will be unshakeable!"

Su Ning raised his glass, but his gaze was fixed on the distance: "Cousin, this title of 'superior' is both an honor and a shackle. From now on, we must act with utmost caution, striving to do better and avoiding even the slightest mistake. The court's eyes are currently fixed on us."

He paused, then his tone became firm: "However, this also means that we can more freely implement the next step of the plan—land surveying, reforming the labor service system… These fundamental issues need this opportunity!"

The halo of achieving "superior" grades was like a dazzling armor of officialdom bestowed upon Su Ning.

His authority in Jiangnan reached a new peak.

Many potential opponents and observers in the past are now forced to re-examine this young governor and weigh his rising power and unfathomable favor with the emperor.

Su Ning knew that he had gained another three precious years and a more solid starting point to continue his grand ambition of transforming the Ming Dynasty.

In fact, Su Ning also knew that the second-in-command Zhang Juzheng wanted to reform even more than he did, after all, he had long seen the shortcomings of the Ming Dynasty.

Therefore, what followed was absolutely the most turbulent and passionate period in the officialdom of the Ming Dynasty, which almost allowed Zhang Juzheng to truly extend the life of the Ming Dynasty.

...(End of chapter)