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

Chapter 307 Chongzhen: Restore the post stations? Aren't you slapping me in the face?
Upon seeing this, Zhang Shize was startled and quickly stepped forward to support the Duke of England, as if afraid that the Duke would fall if he let go.

Just then, the British duke suddenly said:

"Help your father to the study!"

Zhang Shize nodded, and then the two went to the study.

Upon entering the study, the Duke of England went straight to the desk without saying a word, reached into the drawer, took out a stack of Ming Dynasty bonds, and handed them to Zhang Shize.

Zhang Shize carefully took it and examined it closely.

These Ming Dynasty bonds came in two types: one with a face value of 10,000 taels of silver and the other with a face value of 5,000 taels of silver. Some were signed with the name of Emperor Chongzhen, while others were signed with the name of Emperor Zhu Cilang.

Then, the British official gave a brief account of what had happened.

Although Zhang Shize had already learned the general outline of the matter from the noble sons who usually ate, drank, and had fun with him, their accounts were fragmented and far less detailed than what he had heard from the Duke of England.

After hearing the Duke of England's words, he couldn't help but sigh:
"I never expected that His Highness the Crown Prince would come up with such a brilliant idea."

Upon hearing this, the Duke of England was quite moved, and then, with a hint of pride and satisfaction, smiled and said:

"That's exactly why I've been working so hard to promote this among the nobles. Besides, it's a profitable business, and it can also help the country and earn you a reputation for loyalty and patriotism. Why don't those nobles buy it?"

"Besides, things are different now than before. In the past, everyone hid their assets, afraid that His Majesty would find out the exact amount and ask for a loan. They were like mice afraid of a cat, carefully guarding their little bit of wealth."

"But now that all that has happened, what's the point of hiding it?"

"If you don't buy it, His Majesty will harbor resentment and think you are disloyal."

“Those nobles aren’t fools either. Some things don’t need to be said too explicitly. So, in the time it takes to drink a few cups of wine just now, I’ve already helped sell two million taels of Ming Dynasty bonds.”

"Those nobles were all scrambling to buy it, afraid they wouldn't be able to get their hands on it."

Upon hearing this, Zhang Shize said thoughtfully:
"When I finished my duty today, I ran into a few noble sons with whom I used to get along. They invited me to a banquet, hoping that I could help them buy some Ming Dynasty bonds."

"It seems that the Ming Dynasty's national bonds are really in high demand."

Upon hearing this, the Duke of England nodded again and said earnestly:
"This is understandable. After all, the younger generation of nobles also want to make a name for themselves in front of His Majesty and the Crown Prince, and prove that they are also responsible and capable."

"If you can help with this, then do so. After all, you are both sons of noble families, and you will need to help each other in the future."

"Also, remember to buy 300,000 taels of silver worth of Ming Dynasty bonds in your own name first thing tomorrow morning. You absolutely cannot let yourself be outdone by the other noble sons!"

Upon hearing this, Zhang Shize quickly replied:

"Father, rest assured, your son will handle this matter properly."

Meanwhile, similar things were happening in the homes of civil officials and gentry on the other side.

Those civil officials and gentry who were usually high and mighty were now gathered together, discussing the matter of the Ming Dynasty's national debt.
The next day happened to be the day for court, and because the matter was of great importance, Emperor Chongzhen unusually attended court.

Of course, Zhu Cilang still attended the court assembly as the Crown Prince Regent.

After all the officials had paid their respects to Emperor Chongzhen, Chongzhen directly instructed Wang Chengen to announce the imperial edict.

Immediately afterwards, Wang Chengen's shrill voice began to echo throughout the court:
"By the grace of Heaven, the Emperor decrees: The court has decided to issue Great Ming National Bonds to raise funds for national projects such as road construction. All officials are urged to work together to achieve this great undertaking."

The imperial edict was actually quite simple; it concerned the court's decision to issue national bonds for the Ming Dynasty and the allocation of quotas to each province.

When they heard the contents of the imperial edict, the civil and military officials in the court were not surprised in the slightest.

After all, most of them already knew about it last night.

Therefore, this matter received everyone's support without exception.

After all, it's for the country to build roads. Anyone who opposes this is just asking for trouble.
Besides, although the Ming Dynasty's national debt is also borrowed from the people, it's not like they won't repay it. The national treasury and the imperial treasury are very full now, so 30 million taels of silver is really nothing.

On the contrary, buying Ming Dynasty bonds would both help the country and generate profits, so why not?

Meanwhile, the Daming Daily News was also giving full play to the news that morning.

On the street, people who had just seen the new headline "Ming Dynasty National Debt" were immediately puzzled. They whispered among themselves and discussed the matter.

"What are these Ming Dynasty national bonds? Is the imperial court coming up with some new trick to plunder our people's money again?"

The faces of some people were full of doubt and unease, as if the Ming Dynasty's national debt was something terrible.

However, as the details became clearer, the people finally understood what the Ming Dynasty national debt was.

It turns out that this was a type of bond issued by the imperial court for purposes such as road construction. Buyers could receive a certain return after one year.

But some people still have doubts.

"Could this be some kind of scheme by the imperial court to rob us?"

The man frowned, his eyes filled with vigilance.

Someone nearby, overhearing this, couldn't help but retort:
"Robbery? What's the point of robbing the few coins you have? Didn't you see what they said? This time, the imperial court is going to issue 30 million taels of silver in national bonds for the Ming Dynasty. Is it worth robbing the little money we have?"

"To be honest, I wouldn't have dared to buy this before, but now the imperial court has won several battles and reformed the tax system. I've heard that the national treasury has more money than it can spend, so what do we have to worry about?"

"Besides, these Ming Dynasty bonds yield a 1% return per year. If it's ten taels of silver, the principal and interest will amount to eleven taels of silver a year. This is a very worthwhile deal, and I think it's worth buying some."

"That's right, that's right! Ten taels of silver can earn you one tael a year, and one hundred taels is ten taels of silver. That's much better than keeping the money at home. You might even make a small fortune."

"Anyway, with His Majesty and the Crown Prince vouching for us, we have nothing to be afraid of."

"Yes, yes, I also think we should buy some. These Ming Dynasty bonds seem quite reliable. Let's consider it as supporting national development."

For a time, similar discussions arose in every corner of the capital, like a spring breeze blowing through every part of the city.

Even now, many ordinary people are going directly to the Royal Bank of the Ming Dynasty to inquire about purchasing Ming Dynasty bonds. They are all in a hurry, their faces full of eagerness, as if they are afraid of missing this good opportunity to make money.

However, they seemed to have forgotten something very important: the Ming Dynasty's national bonds had not yet been officially issued.
Of course, that's not important!

That afternoon, Zhu Cilang received some exciting good news.

That is, the nobles, gentry and wealthy merchants combined have actually subscribed to more than 6.5 million taels of silver worth of Ming Dynasty bonds!
At that very moment, Zhu Cilang was in the palace discussing the upcoming ancestral worship ceremony with Emperor Chongzhen. Therefore, Emperor Chongzhen naturally heard the news.

Six million five hundred thousand taels?

Upon hearing this news, Emperor Chongzhen was instantly shocked. His eyes widened, and his face was filled with disbelief.

Although he knew that with himself, the emperor, and the crown prince as guarantors, the Ming Dynasty bonds would likely sell very well, he never expected them to sell so well and so quickly.

Including yesterday, in just two days, they actually sold 6.5 million taels!

Moreover, this is only what the gentry, nobles, and civil officials have purchased; ordinary merchants and common people haven't even started buying yet.

You should know that the capital city has a population of 1.2 million. Even if you exclude nobles, civil officials, gentry, and wealthy merchants, it wouldn't be an exaggeration to say that there are still a million ordinary people left.
With a population of one million, absorbing the remaining 1.5 million taels of the Ming Dynasty's national debt would be a piece of cake.
For a moment, Emperor Chongzhen seemed to see countless amounts of silver flooding into the national treasury like a tidal wave, and he couldn't help but feel a surge of joy.

But at that moment, Chongzhen had another thought, and then he said to Zhu Cilang:

"How about we add some more Ming Dynasty bonds? Or perhaps we can move some of the Ming Dynasty bonds that were originally allocated to other places to the capital?"

It's obvious that Emperor Chongzhen saw how well the Ming Dynasty bonds were selling in the capital and wanted to sell more.

But upon hearing this, Zhu Cilang smiled and shook his head.

"Father, this is absolutely not allowed! After all, things are valued for their scarcity. If there are too many of these things, it might have the opposite effect."

"Furthermore, even if the Ming Dynasty bonds in the capital are sold out, people can buy them in other places if they want to, which can speed up the sale of Ming Dynasty bonds in other places."

"We can't just focus on the capital; we need to broaden our horizons."

Emperor Chongzhen found this argument quite reasonable and stopped insisting on it.

Regardless, this is still a very happy thing.

He then looked at Zhu Cilang, his eyes filled with admiration and satisfaction.

"You've thought things through perfectly. I knew I hadn't misjudged you."

Immediately at that moment, Zhu Cilang seemed to have thought of something, and then, as if by magic, pulled a memorial from his sleeve and handed it to Chongzhen, saying:

"Oh, right, there's one more thing I need you to look at, Father."

A playful smile played on his lips, as if the memorial contained some secret.

Emperor Chongzhen was also curious upon hearing this, so he reached out and took the memorial.

But after opening it, Chongzhen's expression turned rather unpleasant.

Because the matter mentioned in this memorial was actually about restoring the post stations.

This was a past event that Emperor Chongzhen did not want to mention.

It was he who ordered the abolition of the post stations, which created a figure like Li Zicheng and plunged the Ming Dynasty into turmoil.

Now that this memorial mentions the restoration of the post stations, how could he not feel annoyed?

Because this is a direct slap in his face!
For a moment, Chongzhen frowned deeply, his eyes revealing a hint of anger and helplessness, and the memorial in his hand was crumpled in his hand.

Emperor Chongzhen's resolute decision to abolish the post stations stirred up waves in the long history of the late Ming Dynasty, becoming a major decision that has been the subject of much discussion in later generations.

Ultimately, it was this decision that led to Li Zicheng's rise and ultimately the downfall of the Ming Dynasty.

However, a closer examination of the reasons behind it reveals that this decision was not due to the incompetence and tyranny of Emperor Chongzhen, as many people mistakenly believe, but rather a helpless move forced upon the Ming Dynasty by the dire situation it faced at the time.

By the end of the Ming Dynasty, the national treasury was in an unprecedented crisis.

In Liaodong, the Jurchen forces were at their zenith, constantly harassing the border. Frequent border battles meant that military expenditures were like a bottomless pit, devouring every penny of the national treasury.

At the same time, the country has suffered from disasters for years, with people displaced and starving to death everywhere, urgently requiring a large amount of funds for disaster relief.

To put it bluntly, you need money to do anything!

And it requires a lot, a lot, a lot of money!
However, at this time, the national treasury revenue was decreasing day by day, and the fiscal deficit was snowballing, which was truly alarming.

Against this backdrop, the post station system, however, resembled a giant vampire, consuming more than two million taels of silver annually and becoming a heavy burden on the treasury.

If the post stations had been able to fulfill their duties properly, this amount of money would have been spent without any problem.

However, by the mid-to-late Ming Dynasty, the post stations had gradually become a breeding ground for corruption among officials.

Officials frequently misused post horses, falsified expenses, and solicited bribes, which led to low operational efficiency of the post stations. Not only did they fail to fulfill their proper function, they also increased the financial burden and the burden on the people.

At the same time, Liu Mao, a supervising secretary of the Ministry of Works, submitted a memorial proposing to "reduce the postal system to alleviate the people's suffering," claiming that doing so would save the court 600,000 taels of silver every year.

Censor Mao Yujian also harbored personal dissatisfaction with the post stations and jointly proposed their abolition.

This suggestion was undoubtedly a lifeline for Emperor Chongzhen, who was eager to alleviate his financial difficulties.

Firstly, Emperor Chongzhen was indeed short of money at the time, so he could only try every means to save money.

Secondly, Emperor Chongzhen knew that when an institution becomes too bloated and unable to perform its functions, abolishing it is actually the best option.

Therefore, Emperor Chongzhen ultimately adopted this suggestion.

However, Emperor Chongzhen was not foolish. He did not abolish all the post stations, but retained some important ones while abolishing most of the others.

However, Emperor Chongzhen made a fatal mistake in the process of abolishing the post stations.

That is, he failed to properly resettle these unemployed postal workers, resulting in these people having neither land to cultivate nor being able to engage in other occupations due to household registration restrictions.

Ultimately, most of these people became vagrants and a source of social instability.

Some unemployed post station workers, having nowhere else to turn, joined peasant uprisings, with Li Zicheng being the most typical example.

(End of this chapter)