For a state to borrow money from its people is something that has never happened before in history.
Not only did they lend money, but they also paid interest, which is an unprecedented phenomenon.
The matter was discussed everywhere—in the imperial court, among the common people, on the streets, and in the alleys.
"I've heard that the Regent is going to borrow money from the people? Is the national treasury really that empty?"
"The regent assisted the new emperor in ascending the throne and successively quelled internal turmoil. Even if the late emperor were still in power, I'm afraid the national treasury would be empty."
So, should we lend it or not?
"Ten taels of silver is a year's income for an ordinary person. It's not a lot, but it's not a little either. The Regent only offered one qian of silver in interest. With the national treasury empty, how can we pay the interest?"
"That's right, it's probably just a different way of collecting taxes!"
"That makes sense. I can live a few more years if I don't buy those damn government bonds. I'm just afraid that if I do buy them, I'll worry about them day and night and have sleepless nights."
"Who says that's not true? We're just a small business, where would we get the money to support the imperial court's war effort?"
"That's right, anyway, the imperial court belongs to the emperor, what does it have to do with us common people!"
"This country belongs to the Jiang family, so it doesn't matter who becomes emperor."
"That's not right. If no one pays, how can we fight? If the Wushui Kingdom really invades, we'll be the ones who suffer."
"Shortsighted! Without a country, where is the home? When the country falls, the home perishes. Have you all forgotten the scenes of the previous internal strife?"
“Indeed, I trust the Regent. During the previous poetry competition, when we wrote about the faults of the deposed Prince Jiang Xinwei, the Regent said that as long as we wrote it, we would get paid. You all received money that time, which shows that the Regent is not a man of his word.”
"Buying is fine, but buy a smaller amount. It's good to get interest, but even if you don't get interest, you won't lose much. At worst, you can just consider the money as going down the drain!"
"Exactly!"
"Exactly!"
Such thoughts could be heard throughout the Yu Kingdom, and the concerns expressed were largely the same.
This was reflected in the accounts as a stark contrast to the lack of visitors on the day the national bonds were issued.
High-ranking officials, nobles, and the wealthy did not attract many buyers. Even those who did buy only offered two or three hundred taels, or four or five hundred taels, just enough to make up the amount and avoid being inconsiderate in front of the Regent.
Silver from all over the country was collected by the imperial court, but the total amount collected nationwide was only two hundred thousand taels of silver.
Linghu Lan looked at the accounts handed over by the Ministry of Revenue and couldn't help but smile.
This amount of silver may seem like a lot, but in reality it is only enough for the monthly salary of 200,000 soldiers. It is not even enough to buy food or transport weapons, so how can they fight a war?
Although I had anticipated that there would be less, I never imagined there would be so little. It seems I have no choice but to take drastic measures.
The official from the Ministry of Revenue was a loyal and courageous veteran who took the lead in purchasing 10,000 taels of silver. She remarked with considerable emotion:
"Your Majesty, Your Regent, on the day the national bonds were issued, the largest amount of silver received was from an old man who took out his life savings of five hundred taels to buy the bonds. The rest were just watching the show. It seems there are quite a few confused people in the world."
Linghu Lan nodded and said, "In the name of the imperial court, bestow upon that old man a plaque inscribed with the four characters 'Loyalty and Courage to Serve the Country.' In addition, grant him five hundred taels of silver, and the bonds will remain with him, to be repaid to him with principal and interest in three years!"
"Your subject obeys!" the official from the Ministry of Revenue replied solemnly.
Another official said, "Your Highness, with the issuance of national bonds proving unsuccessful, where will the funds for this war come from?"
Linghu Lan smiled.
"Since we can't borrow it, then we'll confiscate its property!"
The Ministry of Revenue official felt a chill run down his spine and sighed inwardly; what was bound to happen had finally arrived.
"yes!"
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