The Young Dragon of the Ming Dynasty: Bound to an Industrial Blueprint from the Start

A bill of exchange is a document issued between businesses that allows them to collect money in a different location.

However, few merchants in the north used drafts; everyone was used to cash transactions.

"What does the employer want?"

"Let's give it a try," Zhu Zhanji said. "Let the Shen family deposit the silver in Nanjing, and we'll withdraw it in Beiping using bank drafts. This will save us the trouble of escorting it, and secondly," he added, "we can practice our skills."

Qian Lai understood.

Practicing is preparation for the future operation of a money exchange.

"I will go and talk to Manager Zhou right away."

When the news reached the back building, Lin Xiuniang was squatting by the window, worrying about the dozen or so newly tested perfumes.

The recipe failed again.

The sandalwood ratio was wrong this time; the scent was too strong, like an incense burner in a temple.

She sighed, about to start over, when the door was pushed open and Qian Lai came in.

"Madam Lin, this is a joyous occasion!"

Lin Xiuniang was stunned for a long time after hearing about the Shen family's order.

"Two thousand bottles? One, ten thousand taels?"

"That's right," Qian Lai said. "The boss said that if we expand production and don't have enough manpower, we'll hire more; if we don't have enough space, we'll rent more. You just need to focus on making good products; we'll take care of everything else."

Lin Xiuniang's eyes welled up slightly.

She recalled that half a year ago, she and Hu Zi had nowhere else to go but to seek refuge in Xishan Manor.

At that time, all I wanted was food to eat and a place to stay.

Now, she manages a workshop with four female workers, and she plans to hire even more soon.

Her products are intended to be sold in Nanjing and Southeast Asia.

"Manager Qian," she stood up, her voice trembling slightly, "I will do my best."

Qian Lai nodded and handed her another piece of paper: "These are some requirements listed by the employer. You can decide what to do."

Lin Xiuniang took it and looked at it.

The handwriting on the paper is childish, but the logic is clear:

"1. Newly recruited female workers will be required to sign a three-year contract. The monthly allowance is two taels of silver, and room and board are provided. Those with good skills can be promoted to master craftsmen and receive a monthly allowance of five taels of silver."

"Second, the core proportions of the floral water formula are only controlled by you. New workers are only responsible for soaking, filtering, and bottling, and do not come into contact with the core."

"Third, the research and development of perfume balms will continue. There is no rush to mass production, but three to five new samples need to be produced every month for Manager Qian to test the market."

"Fourth, samples from Southeast Asia, ten bottles of each, with the most exquisite packaging."

After reading it, Lin Xiuniang silently memorized it.

She raised her head and said to Qian Lai, "Manager Qian, I have a request."

"explain."

"I'd like to hire a few literate girls," she said. "They need to know how to write recipes, manage accounts, and teach newcomers; they can't do that without literacy."

Qian Lai's eyes lit up: "Great idea. I'll help you find someone."

On the first day of the eleventh month, Qianlai delivered the monthly account on time.

Zhu Zhanji received him at Tingxue Pavilion, while Chuntao ground ink and took notes.

"Last month's balance: 1,157 taels of silver."

"This month's income: The deposit of 2,000 taels of silver from the Shen family has been redeemed; the net profit of 300 taels from the Ministry of War has been received; the sales revenue of 'Elegant Brew' of Drunken Immortal Brew is 230 taels; and the retail revenue of Flower Dew is 85 taels."

"This month's expenses: Lin Niangzi's workshop expanded production, recruited six new female workers, and paid three months' wages in advance, amounting to 36 taels of silver; rented a new courtyard, with an annual rent of 60 taels of silver, paid in advance for six months, amounting to 30 taels of silver."

"Two hundred and forty-five taels of silver were spent on purchasing dried flowers, beeswax, and spices; one hundred and eighty taels of silver were spent on purchasing timber, iron, and cowhide from Master Sun's side; and sixty-five taels of silver were spent on purchasing herbs from Doctor Wu's side."

"Monthly balance: 3,126 taels of silver."

Qian Lai closed the ledger, a smile he couldn't hide on his face: "Boss, at this rate, we'll save five thousand taels in three months, no problem."

Zhu Zhanji nodded, showing little surprise.

He pointed to a line in the ledger: "Did the Shen family's two thousand taels of silver notes go smoothly?"

"Smoothly," Qian Lai said. "The Shen family has a branch in Beiping. We can collect the money directly with the bill of exchange without waiting for Nanjing. I've inquired about it; it's called 'payment on demand,' which is the Shen family's credit to us."

Zhu Zhanji seemed to be deep in thought.

"Manager Qian, what do you think would happen if other businesses were also willing to accept our membership tickets?"

Qian Lai was taken aback for a moment, then realized what was going on.

"Does the boss mean we should issue invoices too?"

"Let's give it a try," Zhu Zhanji said. "Let's start small. Of the businesses that Steward Guo contacted, is any of them willing to give it a shot?"

Qian Lai thought for a moment: "There's a family that deals in southern goods, surnamed Liu, who has a long-standing relationship with Manager Guo. He often imports goods from Jiangnan, and he has to deposit silver every time, which is very troublesome. If we could use bank drafts, he would definitely be willing."

"Then let's talk to him," Zhu Zhanji said. "Let him deposit the silver here with us, and we'll issue him a receipt. He can withdraw the silver in Jiangnan with the receipt. We won't charge him any handling fees; we're just trying our luck."

My heart raced when I got the money.

This is equivalent to "exchanging" silver on behalf of the business.

Although it's just a trial, limited to one company, and free of charge, this is the first step.

"I'll take care of it right away."

Manager Liu was a plump man in his fifties with a round face and smiling eyes; he was clearly a seasoned businessman.

He narrowed his eyes after hearing Qian Lai's suggestion.

"Manager Qian, you mean I can deposit the silver with you, you issue me a receipt, and then I can take the receipt to Jiangnan to withdraw the silver?"

"That's right," Qian Lai said. "The Shen family has a branch in Jiangnan. Madam Shen has already agreed that we can collect the silver with our tickets."

"The Shen family?" Manager Liu's eyes lit up. "The Shen family of Shen Wansan?"

"right."

Manager Liu pondered for a moment, then slapped his thigh: "Alright! Let's give it a try!"

He pulled a silver note from his pocket: "This is five hundred taels, from a Nanjing bank. I was just wondering how to get the money to Jiangnan. Escorting it is too expensive, and the bank charges three-tenths of the interest. You don't charge any money, so why shouldn't I give it a try?"

Qian Lai took the silver note and, following the procedure taught by Zhu Zhanji, issued a "Mingyue Trading Company Remittance Draft".

The ticket states: "Consider this ticket to receive 500 taels of silver, payable at the Nanjing branch of the Shen family. The ticket has a cloud pattern mark of the Mingyue Trading Company on the bottom, his handwritten signature, and a seal across the seam."

Make two copies, one for Manager Liu and one for filing.

Manager Liu took the ticket, looked at it over and over several times, and then put it in his pocket.

"Manager Qian, if this works out, let's keep in touch."

He cupped his hands in greeting and left.

Qian Lai stood there, his palms sweaty.

This is the first bank draft issued by Mingyue Trading Company.

He didn't know what the outcome would be.

Five days later, Manager Liu returned.

As soon as he entered, he rushed towards Qian, cupping his hands in a fist and palm salute: "Manager Qian, it's done!"

Qian Lai's heart, which had been hanging in suspense for five days, finally settled down.

"In Nanjing, the Shen family branch didn't hesitate; they exchanged the tickets on sight." Manager Liu grinned from ear to ear.

"Five hundred taels, not a penny less, very efficient!"

He pulled another silver note from his pocket: "This is one thousand taels. I need to transfer it to Jiangnan. Will you charge a handling fee this time?"

Qian Lai smiled: "I'll take it. According to the rules, I'll take two taels out of a thousand taels, how about that?"

"Two taels?" Manager Liu was taken aback. "So cheap? Other places charge at least ten taels!"

"We're a new account, not in it for the money, but for the reputation," Qian Lai said.

"If Manager Liu is satisfied, please introduce a few more of our friends."

"Of course!" Manager Liu patted his chest. "Don't worry, all my business brothers have the same problem, and they'll all come to you from now on!"