Therefore, last year's Wanshou Festival was kept simple. We still had a holiday, but it was not grand at all.
In fact, if we talk about the birthday celebrations of various dynasties, the grandest one was that of the emperor of the Northern Song Dynasty. The entertainers from the music troupe sang and danced continuously, and the imperial banquet was filled with delicacies from land and sea. The emperor would sit for most of the day.
In the Ming Palace, during the Emperor's Birthday Festival, low-ranking eunuchs and palace maids could put on whatever they liked instead of wearing purple.
The palace maids would also compete to create new square gourds and wear them on their bodies, with patterns of characters such as: Baoli Wannian, Hongfu Qitian, Sihai Fengdeng, etc.
The maid felt bored staying in the palace all day long, so it was understandable that she wanted to wear beautiful clothes she liked and create a square gourd to make things lively and festive.
Li Chengcheng shook his head slightly and said, "I'm afraid the Emperor still won't celebrate the festival in a grand manner. The wars in Liaodong and Southwest China, as well as other expenses, are making the Emperor very worried!"
Oh, Fan Xiaohui pursed her lips and put a spoonful of shaved ice into her mouth, feeling a little disappointed.
Li Chengcheng blinked his eyes, and suddenly thought of a way to test him. He pretended to be concerned and reminded him, "Don't mention it in front of the emperor, or he will punish you."
When the word punishment was mentioned, Fan Xiaohui's face suddenly flushed, she lowered her eyes and remained silent.
Li Chengcheng observed her best friend's expression and felt that something was amiss. She smiled and tilted her head, looking into Fan Xiaohui's evasive eyes, and continued to ask, "Did the Emperor punish you? How did he punish you?"
Fan Xiaohui glanced at Li Chengcheng, then avoided her friend's gaze and stammered shyly, "You've been punished several times, and you still come to ask me?"
Li Chengcheng chuckled and said, "Who knows how the emperor will punish you? There is not only one way."
Fan Xiaohui's face turned even redder. She silently ate the shaved ice. After a long pause, she said, "It's just like the government. Beating with a stick!"
Beating with a stick? Is the emperor so cruel? Li Chengcheng's mouth opened into an "O" shape, his eyes blinked, and he quickly asked, "Does it hurt? Do you want some medicine?"
Fan Xiaohui shook her head slightly, thinking: "The emperor didn't use much force when he slapped my butt. That's right, he had to take off my skirt. It's so embarrassing!"
Li Chengcheng stopped asking questions and thought about asking the emperor to stop beating Fan Xiaohui. Instead, he wanted to "punish" himself...
The girl's face also turned red, almost the same as Fan Xiaohui's.
…………………….
When the emperor returned to the Palace of Heavenly Purity, he did not notice the abnormality of the two maids. Instead, he read the memorial and felt pleased with the prospects of issuing the "Ping Liao Debt".
While Zhu Youxiao was pleased, he also felt a little regretful. This was because the majority of those interested in subscribing to government bonds were chambers of commerce, each of which contributed at least one million yuan, leaving little for other social classes. This was somewhat different from his original intention.
If Zhu Youxiao wanted to raise funds from merchants, he believed it would be smooth sailing, without the hassle of issuing "Ping Liao Bonds." He believed it would be easy to raise 18 million yuan from several major chambers of commerce, without having to pay interest, simply by saying they wanted a loan.
Zhu Youxiao did not want to solicit donations, nor did he want all the "Ping Liao Debts" to be subscribed by merchants. As mentioned above, the reason was not just about raising funds.
Obviously, the major chambers of commerce probably misunderstood the emperor's intentions, thinking that the emperor was short of money but was too embarrassed to ask for a loan, which is why they came up with the "Ping Liao Debt."
The major chambers of commerce didn't care about the interest on the Ping Liao Bonds. In business, the minimum profit was always much greater than the interest, even though the Ping Liao Bonds were considered a sure-win investment.
Therefore, several major chambers of commerce were afraid of falling behind, and before the "Ping Liao Debt" was officially issued, as soon as some news came out, they actively participated in it to leave a good impression on the emperor.
In particular, the Yangtze River Chamber of Commerce expressed to the court through Tang Mo that it was willing to invest 2 million to subscribe to the "Ping Liao Bond" without interest.
From the time the several major chambers of commerce were established and recognized by the imperial court, they all made significant contributions. The imperial court primarily recruited maritime merchants, and the Chinese Chamber of Commerce contracted northern trade and monopolized border trade, essentially working for the imperial court.
The Jiangnan Chamber of Commerce seized the opportunity and, by issuing silver coins and paying a large sum of money for the exchange, attracted the emperor's attention.
The Yangtze River Chamber of Commerce also wanted to emulate the Jiangnan Chamber of Commerce, perhaps with Tang Mo's guidance. Just as the imperial court was about to issue the "Ping Liao Debt," they simply invested heavily. Once the emperor was pleased, they became one of the four major chambers of commerce in the Ming Dynasty.
It hasn't been officially released yet, but most of it has been completed, and there should be no problem with the remaining share.
Zhu Youxiao looked at the number of shares subscribed by the Chamber of Commerce and made a simple estimate. It was expected that six million shares would be issued, and the Chamber of Commerce would have taken up five million, leaving only one million. It would be enough for each of the powerful families in the capital to buy a little.
After much contemplation, Zhu Youxiao decided not to discourage the Chamber of Commerce's enthusiasm, but was also anxious to get them the money. He decided to issue it publicly first to see how much of the shortfall there was.
Furthermore, the projected issuance limit of 6 million yuan doesn't need to be too rigid. With so many places to spend money, it's better to have more than 6 million yuan. So why worry about not being able to pay the interest?
Don't think Zhu Youxiao borrowed the money first without considering the repayment later. Emperor, it is so shameful to default on a debt, you can't do that.
Zhu Youxiao did not intend to use the imperial treasury to repay the "Ping Liao Debt". However, after calculation, he believed that the court's finances would be able to repay the debt in three years.
The "Salt Ticket Law" was about to be implemented, the tobacco monopoly system was also being improved, and there was also a tea monopoly, and gold and silver mines were being opened. With the increase in tobacco planting, the tea monopoly was more strictly controlled, and gold and silver were mined, fiscal revenue would increase significantly.
Zhu Youxiao was even more confident about the collection of commercial taxes, a major source of Ming Dynasty revenue. The effectiveness of self-regulation through the Chamber of Commerce was already evident, with this year's revenue projected to more than double that of last year.
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