At this juncture, the imperial family members of the Ming Dynasty needed to unite and closely follow the policies set by the emperor. They didn't need to provide substantial assistance, but they absolutely could not hinder the progress.
They naturally need to support the Maritime Trade Office, they naturally need to support the banks, and they also need to take the lead in accepting large denominations of paper money.
These don't seem to be major problems; paper money has been in use in the Ming Dynasty for nearly twenty-five years.
Although people were not very receptive at first, under Zhu's strong pressure and because the value retention rate of paper money has been quite good over the years, he gradually gained the trust of many people.
However, when it was proposed that the bank needed to provide a large amount of silver as reserves, many members of the royal family seemed to hesitate, or even consider making excuses.
The reason was simple: they felt that was a matter for the imperial court and the emperor. They could accept paper money as a means of settlement, but they obviously couldn't bring themselves to deposit silver into the banks.
One by one, they started complaining about being poor. Today they said they built a house, tomorrow they want to take a concubine, or that they emptied their mansions by being extravagant recently.
If one simply cannot refuse a favor, taking out a hundred or five hundred taels of silver, or even a thousand taels if one is generous, is also acceptable.
Zhu Yunwen's face flushed with anger. He had thought that his elder brother had been good enough to the imperial clan, and that they should be grateful. But now, looking at them again, he realized that these people didn't understand his brother's difficulties at all; they were only thinking about their own possessions!
Whether Zhu Yunwen was angry or furious, some members of the imperial clan didn't care at all. Even if the emperor intervened, they would at most plead poverty and hand over an extra hundred taels of silver; don't expect them to contribute any more.
It cannot be said that all members of the imperial family were complaining about being poor. Some were quite generous, and some were loyal to the emperor and the country, willing to contribute more silver to help the nation.
Zhu Yunying was naturally aware of what was happening at the Prince Zhou's residence, but he didn't think much of it; this was perfectly normal.
Although they are members of the imperial family and relatives, they have actually separated their households long ago. So, don't expect brothers to be as close as brothers when fighting a tiger. Even in ordinary families, brothers can fight over a single bowl or chopstick when dividing the family property; how much more so now that it involves real money?
Old Zhu was somewhat angry, and said to Zhu Yunying in a disgruntled tone, "Look at your uncles, none of them are any good. They're too short-sighted, only interested in taking what's in their own bowls!"
Zhu Yunying smiled, not caring much. "Grandfather, I offered some benefits to the imperial family, but they refused to accept them, so there's nothing I can do."
Old Zhu sighed and looked at Zhu Yunying, saying, "Ying'er, tell us the truth, can this bank really make money? We know what your uncles are thinking. It's not that they're afraid of revealing their wealth, it's just that they're afraid they won't be able to get this money back."
“Actually, what I’m worried about right now is a bank run,” Zhu Yunying said to his father with utmost seriousness. “The court has a limited number of banknotes printed. This time, we’ve established banks in various prefectures and counties, and I’m afraid some people will start a run on the silver.”
This was indeed Zhu Yunying's biggest concern. Although the Ming Dynasty's finances were increasing and silver was flowing in, the most important thing was that the issuance of paper money was backed by gold and silver, so it shouldn't be a big problem.
However, the thought that he would be directly implementing the banking system, which would mean that the exchange of silver would be completely liberalized, might tempt many people to start considering it.
If the imperial bank is unable to provide the silver for the exchange, it could have a significant negative impact on the implementation of paper money, and the very first step in establishing a bank could very well become a dud.
Zhu Yunying continued, "Actually, I had been thinking about some things before. Although we were giving some benefits to the imperial clan, we also set restrictions. We couldn't let the imperial clan make the lion's share; the money still had to go into the national treasury. Now, it's all good; we don't have to worry about those things anymore."
Old Zhu nodded silently. Although his beloved grandson spoke as if it were nothing, Old Zhu knew that his grandson was definitely angry inside.
Those members of the imperial clan are really outrageous. Leaving aside whether they made concessions this time, they're unreliable when it comes to matters of state. They might say they won't hold the court back, but don't expect them to help the court at all.
The thought of his beloved grandson working so hard only to end up in such a thankless situation made Old Zhu angry with his unfilial descendants.
“This time we understand, and we’re not treating everyone equally.” Zhu Yunying laughed and said to Old Zhu, “Previously, the salaries given by the court and the profits from the Maritime Trade Office were all based on rank. This time, with the banks, whoever invests the most money will get some benefits.”
Old Zhu nodded, agreeing that it made sense. "That makes sense. If the bank does a good job, those people should get more benefits."
"It's not just that. If the bank's output increases in the future, and the imperial clan wants to invest more, we won't give them these benefits." Zhu Yunying laughed and said to Old Zhu, "Grandfather, don't say we're petty. These imperial clan members deserve a lesson."
“That makes sense. These people never learn from their mistakes.” Old Zhu nodded and said, “Just do it this way. If they still don’t know what’s good for them, don’t rush to give them any good opportunities. They all think that once the family is separated, they’re only thinking about their own lives.”
It's easy to add flowers to brocade, but it's really too difficult to provide charcoal in the snow; now that everyone is pessimistic about the banks, Zhu Yunying doesn't intend to say much or force anything, and the imperial court can actually provide a safety net.
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