My father is Chongzhen? Then I have no choice but to rebel.

Chapter 304 It seems that if we don't buy Ming Dynasty bonds today, we won't be able to leave the palace!
Just as everyone was whispering and speculating about what had happened, a sharp voice suddenly rang out:

"His Majesty has arrived! His Highness the Crown Prince has arrived!"

Upon hearing this, everyone immediately fell silent, and the previously noisy scene instantly quieted down.

Immediately afterwards, Emperor Chongzhen and Zhu Cilang slowly walked in.

After Emperor Chongzhen and Emperor Zhu Cilang were seated, the civil and military officials hurriedly bowed.

"Your Majesty, I pay my respects! Your Highness, I pay my respects!"

Emperor Chongzhen nodded slightly and said:

"All my beloved subjects, please rise!"

Upon hearing this, everyone stood up.

Immediately afterward, Chongzhen, too lazy to be polite any longer, spoke directly:

"My dear ministers, the reason I have summoned you all here today is actually for the purpose of building a cement road."

Upon hearing this, everyone suddenly realized that the reason Chongzhen had summoned them was because of the construction of the cement road!

To be honest, building cement roads was probably the most popular good thing that Emperor Chongzhen did since he ascended the throne.

Because after the cement road was built, the environment of the entire capital city improved instantly.

In the past, the roads in the capital were full of potholes and became muddy and impassable when it rained, making it extremely inconvenient for people to travel. Moreover, the streets were always dirty.

But since the cement road was built, the road has become flat, wide, clean and tidy, making it much more convenient for people to travel and for merchants to transport goods more smoothly.

Everyone marveled at the cement road, including the civil and military officials.

Just then, Chongzhen spoke again:

"Minister Ni, you can tell me what to do next!"

Upon hearing this, Ni Yuanlu quickly stepped forward and respectfully said:

"The minister obeys the order."

He then addressed the crowd and said:
"Gentlemen, according to the calculations of the Ministry of Revenue and the Ministry of Works, the total cost of building cement roads throughout the capital was 18 million taels of silver."

Upon hearing this, the civil officials, led by Xue Guoguan, did not react much.

After all, the cabinet already knew about the cost of building the cement roads in the capital, so they were not surprised.

But the nobles standing to the side were immediately taken aback.

They knew that road repairs were expensive, but they never imagined it would cost this much!
This is a whopping 18 million taels of silver! That's more than the imperial court's annual tax revenue in the past!
Although the money wasn't theirs, they still felt a little heartbroken!

Following that, Ni Yuanlu continued:
"Even though road construction is so expensive, the court will continue road construction next spring, and will build three roads at the same time."

“One route leads from the capital to Xuanfu, another from the capital to Tianjin, and the third from the capital to Liaodong.”

"These three roads are currently estimated to cost around 40 million taels of silver."

what?
Upon hearing this, not only were the nobles in an uproar, but even the civil officials couldn't hold back their anger.

Actually, they wouldn't have any objections if another 20 million taels of silver were spent on road repairs.

After all, based on the tax revenue after the reform, the imperial court will have at least 60 million taels of silver in revenue every year, and it can also come up with 20 million taels of silver.

Moreover, the construction of these roads was of great significance to the country's development. For example, the completion of the road from the capital to Xuanfu could strengthen the connection between the capital and the border regions and improve the speed of troop mobilization.

Once the road connecting Beijing and Tianjin is completed, it will promote trade between the capital and the coastal areas.

The completion of the road from the capital to Liaodong played a positive role in the defense and development of Liaodong.

But forty million taels of silver.
That's really an exaggeration!
You must know that the imperial court will continue to wage war next year, and war is a money-burning affair. Military pay, food, weapons and equipment—which of these doesn't cost money?
In addition, there are also the costs of stationing troops in Mongolia, relocating people to Liaodong, and providing relief to disaster-stricken people.

Thinking of this, Grand Secretary Xue Guoguan could no longer hold back. Before Ni Yuanlu could continue speaking, he stepped forward, cupped his hands, and said:
"Your Majesty, I believe this matter is inappropriate. Although the Ministry of Revenue still has a considerable amount of silver, is it not excessive to allocate forty million taels of silver for road repairs?"

"Although the court's financial situation has improved after reforms, it cannot afford to spend money so extravagantly."

"Moreover, if all this money is spent on road repairs, what will happen to other matters? I urge Your Majesty to reconsider."

As soon as Xue Guoguan spoke, the other ministers also stood up and echoed his sentiments:

"Your Majesty, I also believe this matter is inappropriate. I urge Your Majesty to reconsider."

As they said this, they glanced at Ni Yuanlu with a hint of reproach, as if complaining that he had agreed to such an outrageous request.

Upon hearing this, Emperor Chongzhen's lips curled slightly upward, and he then smiled and said:

"Gentlemen, there is no need to worry so much. The Ministry of Revenue and I have already considered this matter thoroughly. What we will discuss next is the main topic of our discussion today."

"Simply put, road construction is a must, and it cannot be delayed, especially the Xuanfu and Liaodong roads."

"Furthermore, this sum of money doesn't actually need to be paid by the Ministry of Revenue!"

Hearing Chongzhen say this, the civil officials finally relaxed.

As long as the Ministry of Revenue doesn't have to pay this sum, then anything is acceptable.

After all, the Ministry of Revenue's funds are all planned, and every penny must be used carefully.

Immediately afterwards, everyone felt a surge of joy.

In their view, since the money wasn't from the Ministry of Finance, it must have come from the Imperial Treasury.

After all, apart from the Ministry of Revenue, the Imperial Treasury is currently the only one with money.

None of them expected that Emperor Chongzhen would be so "generous" this time, actually using the imperial treasury's money to repair the road.
You should know that Emperor Chongzhen used to value the imperial treasury's silver above all else!

However, when they were full of hope, thinking that the imperial treasury would come up with the money, Chongzhen's next words left them completely dumbfounded.

"Of course, this money will not come from the imperial treasury."

Everyone was speechless for a moment.

Not
If neither the Ministry of Revenue nor the Imperial Treasury contributes any funds, how can this road be repaired?
Are we supposed to just talk the talk and walk the walk to build the road?
But Emperor Chongzhen didn't say anything more. Instead, he nodded to Ni Yuanlu, signaling him to continue. Ni Yuanlu was a little speechless at this point. If Xue Guoguan hadn't interrupted him, he would have finished speaking long ago.

But then he continued:

"Gentlemen, what I am about to say is the solution to this matter: the imperial court will issue a type of debt to the people, called the Great Ming National Debt."

"In short, it means borrowing money from the people, gentry, and civil and military officials in the name of His Majesty and the country to repair the road. The amount is 30 million taels, for a period of one year, after which the principal and interest will be repaid."

Upon hearing this, everyone present was speechless once again.

Borrow money to repair roads?

What kind of situation is this?
I've only ever heard of people borrowing money to eat, to pay for medical treatment, or even to buy things, but I've never heard of someone borrowing money to repair roads!

Besides, the Ministry of Revenue and the Imperial Treasury are not short of money. They probably have a combined total of 300 million taels of silver. Why would they need to borrow money when they already have it? That's ridiculous.

For a moment, no one knew what to say.

Just then, Zhu Cilang, who had been silent and sitting beside Chongzhen, finally spoke.

"Gentlemen, I know what you're thinking. You just think that the Ministry of Revenue and the Imperial Treasury have plenty of money now, so it would be easy for them to come up with this money. Why bother borrowing?"

"Actually, you're right. The Ministry of Revenue and the Imperial Treasury do have money, so there's no problem with them taking out this amount."

"But don't forget, we're not just going to build these three roads, but the roads for the entire Ming Dynasty."

"My ambition is to connect all provinces, prefectures, and counties with cement roads. This will make it more convenient for people to travel and smoother for goods transportation, which will greatly benefit the country's economic development and the improvement of people's livelihoods."

"But how much silver would that cost? It would probably be hundreds of millions or even millions of taels. Where would we find that money then?"

"I'm afraid even if you add up all the money in the imperial treasury and the Ministry of Revenue, it won't be enough, will it?"

"That's why I discussed with the Ministry of Revenue the preparation to issue the Great Ming National Bonds."

"Of course, the money for road repairs is ultimately borne by the Ministry of Revenue. However, these roads cannot be completed in a year; it will take about ten years."

"If you spread it out, it doesn't actually cost that much money each year."

"Moreover, as you all know, the Ministry of Revenue and the Imperial Treasury are both well-off, so there is no question of them not repaying loans."

"I promise you here that if the Ministry of Revenue cannot come up with the money next year, the Imperial Treasury will repay it. The money of the people will absolutely not be wasted."

Everyone present was not stupid; they immediately understood after hearing Zhu Cilang's explanation.

They then quickly offered their compliments:
"His Royal Highness the Prince is wise!"

Zhu Cilang continued:
"In addition, to demonstrate the importance attached to this matter, the Emperor decided to personally sign his name on national bonds with face values ​​of five thousand taels and ten thousand taels of silver! This is to prove the importance he attaches to this matter."

"All of you present here are pillars of the Ming Dynasty and should set an example for the people of the world."

"If you can take the lead in purchasing the Ming Dynasty's national bonds, it will show the people and gentry of the world the court's determination and sincerity, and they will be more willing to buy the national bonds."

"What do you think?"

As Zhu Cilang spoke, he also greeted Wang Chengen, who was standing to the side.

Wang Chengen immediately understood, and then came out carrying a tray in his hands, on which were placed two stacks of Ming Dynasty bonds.

The names above are clearly visible: one is "Zhu Youjian" and the other is "Zhu Cilang"!
Upon hearing this, everyone's hearts skipped a beat. Looking at the so-called Ming Dynasty bonds that Wang Chengen had presented, what else could they not understand?
This is clearly an attempt to get them to buy Ming Dynasty government bonds first!

It seems like if we don't buy something today, things might get out of hand!
To be honest, if this had happened in the past, these civil and military officials would have tried every possible way to refuse.

They would say they have no money, that their family is dirt poor and they have trouble even with daily expenses, so where would they get the money to buy government bonds?
Or they'll make a fuss about not being able to raise the money, crying poverty and playing the victim, just to avoid paying.

In the past, Emperor Chongzhen really couldn't do anything about them!

But now no one dares to do that, because Zhu Cilang's previous actions have already thoroughly investigated their financial situation.

Especially when the back taxes were paid, who among those present didn't pay tens or hundreds of thousands of taels of silver?
Even more remarkably, taxes amounting to over a million taels of silver were paid in arrears!
If you say you have no money right now, aren't you just asking for trouble?

Isn't this blatantly lying to Zhu Cilang and Chongzhen? If they anger Zhu Cilang and Chongzhen, there will be no good consequences.

Besides, the situation is very different now than before.

The reason why Emperor Chongzhen wanted to borrow money but the officials were unwilling to do so was ultimately because the country's tax revenue was not being collected and the national treasury was empty. Even if you lent money to Emperor Chongzhen, he would not have the money to repay you.

This money is like throwing a meat bun to a dog—it's gone forever!

But things are different now. After a series of reforms, the annual tax revenue of the Ming Dynasty will be at least 60 million taels.

Furthermore, Zhu Cilang had already promised that if the Ministry of Revenue could not repay the money, it would be repaid from the imperial treasury. What else did they have to worry about?
They all knew perfectly well that the amount of silver in the imperial treasury was probably no less than 200 million taels!
In comparison, the money spent on road repairs is negligible.

Therefore, the British Duke was the first to react.

He's a smart man; he knows this is a great opportunity to show his loyalty!

The next second, he picked up two Ming Dynasty bonds from the tray in Wang Chengen's hand and examined them carefully. Sure enough, they had Emperor Chongzhen's signature on them.

Moreover, one of them had a limit of 10,000 taels of silver, and the other had a limit of 5,000 taels, which actually had Zhu Cilang's signature on it.

Of course, who signed it is no longer important; what matters is that both Zhu Cilang and Chongzhen recognized it.

Upon seeing this, the Duke of England immediately smiled and said:

"Your Majesty, this old minister is willing to purchase 500,000 taels of silver in Ming Dynasty bonds. This old minister has always been loyal to the court. Now that the court has such an important matter as road construction, this old minister naturally wants to do his part and share the burden of the court."

With Britain's public statement, the other nobles finally realized what was happening and hurriedly stepped forward to pick up the Ming Dynasty bonds. After looking them over, they also expressed their opinions.

"Your Majesty, I am willing to purchase 100,000 taels of Ming Dynasty bonds!"

"Your subject is willing to purchase 200,000 taels of Ming Dynasty bonds!"

"Your subject is willing to purchase 300,000 taels of Ming Dynasty bonds!"

They weren't stupid; they knew this was a good opportunity to curry favor with Zhu Cilang and Chongzhen. Moreover, the Ming Dynasty's national debt was guaranteed by the imperial treasury, so it was practically a sure thing. Why not take advantage of it?

In other words, they dared not let Zhu Cilang and Chongzhen know how much silver they had, otherwise they could have bought even more!
Even so, these few nobles alone directly subscribed to 1.5 million taels of silver worth of Ming Dynasty bonds!
(End of this chapter)