Qing Yao

Chapter 211 Old Ding, let's raise funds.
The canal incident was resolved quickly and efficiently, mainly thanks to three meritorious officials: Wu Wenyun, the councilor in charge of grain transport; Zhao Youlu, the imperial censor in charge of grain transport; and Ding Chengen, the magistrate of Ganquan County.

In his formal report to the old master, Zhao An highlighted Wu Wenyun, the councilor in charge of grain transport, and Ding Chengen, the magistrate of Ganquan County, believing that the two had demonstrated remarkable work ability and were quite pragmatic during the "emergency repair" of the canal.

In particular, Ding Chengen, the magistrate of Ganquan County, worked tirelessly, always prioritizing the interests of the people, and traveled between Yangzhou and Huai'an prefectures for days on end, playing an indelible role in the restoration of the Grand Canal to navigation.

Of course, the report also mentioned some drawbacks, but Zhao An believed that these drawbacks could be gradually resolved because of the wise leadership of the old master.

As for his role in the incident, Zhao An used humble words such as "following the routine" and "did nothing of note," without mentioning his own contributions.

However, the ending points out that in the decades since the establishment of the canal gang, some members have developed bad habits in order to stick together for a living, and have even developed into robbing people on the road in broad daylight, which has made the imperial court, which was originally the employer, become "weak" in some specific areas.

It also points out that the canal gangs were involved in the black entertainment industry along the canal, often engaging in armed clashes over territorial interests, and even trafficking people, with local officials often acting as "protectors" for these gang members.

Therefore, Zhao An hoped in his report that the court could increase its efforts to crack down on the crime, preferably by establishing a "special task force" to focus on the crackdown.

The reason Zhao An mentioned this was that he hoped the old master could temporarily retain his concurrent post as the Imperial Inspector of the Grand Canal, and preferably appoint him as the head of a special task force in the Jianghuai region. This way, he could use the old master's authorization to crack down on the "gangster forces" of the Grand Canal gangs in the Jianghuai area.

In plain terms, it means "Kill anyone who disobeys me."

Zhao An also wanted to enter the entertainment industry. Prostitution and gambling may sound bad, but this social cancer is impossible to eradicate and the profits are astonishing, so there's no reason not to get involved.

The official report from the Grand Canal Administration to the imperial court highlighted the Inspector General Zhao Youlu, believing that he played a positive role in resolving the Grand Canal's "shutdown" incident.

The report from the Yangzhou prefect to the province highlighted the subordinate Ganquan County.

After the 50,000 taels of silver from Hengli Money Shop arrived, Lao Ding went to the prefectural government office to collect the 14,000 taels coordinated by the provincial and prefectural governments. Zhao An wrote a note to Ding Jiu, who was actually in charge of the Yangzhou branch, requesting that he withdraw 16,000 taels from the branch's public account for freight payments.

Upon seeing the note, Ding Jiu immediately ordered his men to cash it in at the money exchange. Old Ding also successfully obtained the coordination funds from the government office.

To further highlight Lao Ding's image as a "capable official," Zhao An proposed holding a public ceremony to distribute freight fees, in which Lao Ding would represent the canal transport office and the Yangzhou local government in distributing "wages" to the canal workers.

The ceremony was very well organized. Not only was Magistrate Cui invited to attend, but also some officials from the Salt Administration and the Provincial Administration, which greatly enhanced Old Ding's personal image.

Zhao An did not go; instead, he presided over the semester summary meeting of the 55th year of Qianlong's reign at the prefectural school. After the meeting, the prefectural school officially closed down and resumed business on the 18th day of the first lunar month.

At the meeting, Principal Zhao An specifically commended Vice Principal Jiang, Director of Teaching Tong, and the teachers who made great contributions to the Yangzhou Prefectural School's imperial examinations this year.

Similarly, they made no mention of their own contributions.

After the meeting, arrangements were made for all faculty and staff to receive holiday benefits.

He didn't mind the trouble at all and personally distributed rice, flour, oil, vegetables, and meat to the employees, keeping busy for half a day.

In the evening, Vice Principal Jiang reported on the school's work, mainly focusing on the school's revenue this year and planned expenditures for next year.

The biggest expense for the prefectural school next year will be the construction of public housing, which was decided by Zhao An beforehand. Other matters include preparations for the provincial examination and improvements to the system for students studying on temporary assignments.

After the report was completed, Vice Principal Jiang raised a point: the current surplus of over 30,000 taels of silver from this year's student enrollment is still in the books, and the school's student enrollment income for next year will be handed over to the Imperial Household Department. Therefore, he suggested that this surplus of over 30,000 taels of silver be distributed among the students.

The principal takes half, and everyone else takes the other half.

Otherwise, if the Imperial Household Department sends someone to audit the accounts next year, the 30,000 taels might be taken away by them.

"If Your Excellency agrees, I will have the money shop withdraw all the silver. However, the money shop may deduct some fees." Vice Principal Jiang had calculated that withdrawing more than 30,000 taels at once would incur a handling fee of nearly 2,000 taels from the money shop.

"Why are so many deducted?"

Zhao An frowned.

Vice Principal Jiang explained that there were certain limits on the amount of cash that could be withdrawn from the money exchange, and that money would be deducted if the limit was exceeded.

About sixty taels will be deducted from one thousand taels.

Zhao An nodded and asked how much interest the money shop had given him when he deposited the money.

I was told it was 6%, meaning that if I deposited 10,000 taels for a year, I would get 600 taels in interest. However, if the money shop lent out 10,000 taels for a year, the annual interest would be around 1,500 taels.

This interest rate is legally mandated, but in reality, the interest rates charged by various money shops and banks far exceed the legal standard. For example, Hengli Money Shop, which was run by the Imperial Household Department, ostensibly complied with the legal interest rate standard, but in reality, it used disguised means such as discounts and coupons to charge high interest rates.

"Opening a money exchange is a good business."

Zhao An didn't mention whether he would use the money for private distribution. Instead, the next day he found Lao Ding, who was all smiles, and proposed that the three of them start a bank together.

"Money shops are a good business that brings in money quickly. Other money shops only pay customers 0.6% a year when they deposit money, but we pay 0.8% or 0.9%. This will definitely attract more people to deposit money, and then we will have more money on hand."

"Open a money exchange?"

Old Ding was stunned by his grandson-in-law's audacious idea. "Opening a money exchange requires capital, at least tens or hundreds of thousands of taels of silver. Where would we get that kind of capital?"

"We'll try to borrow from Hengli after the New Year."

Zhao An offered a solution: borrow the old man's money to open their own bank, thereby indirectly absorbing private "hot money" to strengthen themselves.

Old Ding shook his head and said, "Those who can open money shops are either high-ranking officials or wealthy people. They have better reputations than us and have been in this business for a long time. If we open a money shop now, even if we offer high interest rates, who would dare to deposit their money?"

The implication is that what you're doing is no different from setting up a fake government office; no wealthy person would believe you.

What's the point of running a money exchange if there are no customers?

"My grandfather will make sure that all those who work in the county government deposit their money in our bank, and I will also make sure that everyone in the prefectural school deposits their money here."

Zhao An felt that Lao Ding still couldn't keep up with his pace. Who are you?

Magistrate!

The county magistrate declared that everyone in the county who was paid by the government must deposit their money in a certain bank. Who would dare not deposit it?

"From now on, all the county's allowances will be paid by our own bank. Next year, I will also have all the tuition fees for students attending schools throughout the province paid to our bank. Within a year, our bank will definitely make a name for itself!"

Administrative deposits, Zhao Anhui.

(End of this chapter)