Chapter 40 The Shi family mortgaged all their properties
After arranging the grain storage, Yunxi discussed opening a money exchange with Gu Nanxiao. Although some of the money exchange management methods Yunxi described were hard for people to accept.
However, Gu Nanxiao had no doubt about Yunxi's abilities, so even though he couldn't understand it, he still did as Yunxi asked.
Later, great news spread throughout the capital: Lord Gu had opened another benevolent money exchange. Those who deposited money there not only didn't have to pay storage fees, but also received monthly or annual interest based on the amount deposited.
In terms of specific deposit methods, there are two types: current account and fixed deposit. Fixed deposits have a minimum term of one year and relatively higher interest rates, while current deposits have no time limit and can be deposited and withdrawn at any time, but the interest rate is only 10% of that of fixed deposits.
As for how to calculate interest, Huimin Money Shop posted a notice on red paper in the lobby, which clearly indicated the method of calculating the exchange rate, and there was a dedicated person explaining it to them.
What's even more appealing is that the minimum deposit amount is as low as ten taels.
This news caused a huge uproar in Kyoto. Most of the people who could afford to live near the capital were already wealthy. Even ordinary people with nothing to their name had quite a bit of money to spare.
Ten taels is all it takes to start a deposit, and it even makes money grow. If the person running this money exchange weren't the esteemed Lord Gu, they would all suspect something was amiss.
But how could Lord Gu risk his reputation and career to swindle a few dozen taels of silver from ordinary people? So, after Huimin Money Shop opened, it received a large amount of financing in just a few days.
Yunxi took out her fixed-term deposit and gave it to Qi Jinxiu to manage, instructing him to make large-scale purchases across the country.
Because he had a lot of money on hand, he was already short of funds after purchasing over 100,000 shi of grain from the Shi family. Qi Jinxiu was still traveling around, frantically hoarding grain.
However, the grain collected by Qi Jinxiu was not transported back to the capital. Instead, following Yunxi's orders, it was transported to more than a dozen prefectures and counties that were about to suffer from drought and stored there quietly.
The wealthy officials and ordinary citizens in Kyoto were happy to save their money. However, the four major money shops in Kyoto suffered, as people withdrew their savings and transferred them to Huimin Money Shop.
Within a few days, the four major money shops had been emptied of their cash reserves, forcing them to transfer cash from other regions. However, even after several batches of silver were transferred, it was clear that they could not sustain themselves any longer.
Just as the owners behind the four major money shops went into hiding after closing down, the Imperial Guards arrived. They seized control of the four money shops, forcing them to repay the people's debts until everyone had successfully redeemed their money, only then did they release them.
The four major money shops lost all their capital in an instant. However, the owners behind the money shops were secretly received by Qi Jinxiu, who offered a very low price of two thousand taels of silver to take over the four major money shops.
None of the money shop owners expected that their now-empty shells could be sold off, and they agreed to the sale even at ridiculously low prices.
Given the current market conditions in Kyoto, what else can we do but sell it? If we grit our teeth and hold on, we probably won't even be able to pay next year's rent. Two thousand is better than nothing.
When several money shop owners agreed to sell their shops, Qi Jinxiu made another demand: he insisted that these owners withdraw without making a sound.
Furthermore, they must not mention to anyone that the shop has been sold, and they must sign a confidentiality agreement; otherwise, they will be required to pay ten times the amount of the shop's value in compensation.
Although the four major money houses did not know what the new owner planned, they felt that the request was not too unreasonable or difficult to fulfill, so they all agreed.
Afterwards, even the manager and clerk of the money shop were unaware that the owner had changed. They were simply told that from now on, all matters concerning the money shop would be under the full management of Manager Qi.
At this moment, the Shi family father and son were standing at the end of the alley, watching from afar as Huimin Money Exchange was packed with people, and people from all over the capital were scrambling to send silver into Gu Nanxiao's hands.
It would be a lie to say they weren't envious. Especially when they had only collected half of their grain and were completely out of money, they longed even more for the days when the Shi family's shop was raking in money every day.
Shi Qingchen was filled with regret. When Yunxi was still alive, the Shi family seemed to have inexhaustible wealth. They had never been in such a predicament.
At the same time, Chief Minister Shi also thought of Yunxi. He never expected that the wild woman he hated the most could provide such great assistance to the ten families.
It's all his fault for his vain son. If he had explained the truth earlier, even if the woman came from a humble background, his son could have taken her into his household as a concubine. What's wrong with that?
Although the Shi family had made a lot of money in the past, there is a saying that there are ways to spend a thousand and places to spend ten thousand. The large and wealthy Shi family mansion needs to be piled up with silver inside and out.
In addition, they also have to spend a lot of effort to support the Third Prince. Even if they have a business that makes a fortune every day, the money will still flow away like water.
When the ice shop stopped making money this summer, and the pharmacy and bookstore stopped earning money, the Shi family's source of income was cut off, and they were already in a state of running out of money.
However, the two masters in the palace were still spending money without restraint. Consort Shi's bottle of bath perfume cost three thousand taels of silver, and the Third Prince spent nearly ten thousand taels of silver to hold a poetry gathering.
Even if they spent money without restraint, the chief minister could not openly complain because of their status as emperor and minister.
After all, they had devoted themselves to supporting him for more than a decade, and the Third Prince was only one step away from becoming the Crown Prince. How could they afford to break off their relationship at this time?
Gritting his teeth, the Grand Secretary decided to first reduce the expenses of his household. However, the little money saved was far from enough to stockpile grain.
If the Shi family wanted to turn the tide during a severe drought, they would need at least a million shi (a unit of dry measure) of grain.
With only a mere few hundred thousand shi of grain in their possession, even if they donated it all, it would likely be lost to the masses, and it would be impossible to change the emperor's opinion of the Shi family.
After much deliberation, the father and son decided to mortgage their several mansions, estates, and shops.
Shi Qingchen took a stack of land deeds and used them as collateral at four major money houses. The matter went very smoothly, and the money houses gave them very high valuations for the land deeds.
Although the interest rate was high, it was still within Shi Qingchen's acceptable range. With the five million taels of silver he had just received, he continued to collect grain and medicinal herbs.
Inside the Yongwang Mansion's study, Gu Nanxiao and Yunxi listened to a report from Qi Jinxiu's men on the current status of grain reserves in various regions.
When the visitor said that the Shi family had mortgaged all their real estate, Gu Nanxiao's gaze towards Yunxi shifted deeply. If this little girl's scheme succeeded, the Shi family would be bankrupt in an instant.
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