The Emperor invested a large sum of money, and Long Xuanmo ordered people to secretly purchase the necessary materials, which were then covertly transported to Sanqing Mountain. The day Yang Chengyu arrived, he entered Sanqing Mountain with Chu Dieyi and all the personnel. Yang Chengyu also set up formations and mechanisms in the area between the inner and outer perimeters.
Yang Mengchen, Doctor Luo, and others successively developed vaccines for leprosy and pneumonia. They were administered first to the people in The Capital, and then gradually distributed to other places.
Cining Palace.
After lunch with the family, the Emperor summoned Yang Mengchen, Long Xuanmo, and others to the Imperial Study Room and directly asked, "Jiujiu, what is this about the bank?"
The day before, Yang Mengchen had drafted the plan. She showed it to Long Xuanmo last night, and he thought it was very good. He asked her to bring it today. Hearing the Emperor’s question, she promptly presented the plan to him.
The Emperor took the document and read it thoroughly, more seriously than he would review memorials. After finishing, he looked puzzled and asked Yang Mengchen, "Isn’t this just a combination of a money shop and a pawnshop? How would it make any money?"
Yang Mengchen silently admired the Emperor’s wisdom for hitting the nail on the head. With a light smile on her face, she explained, "What Father says is true. However, this bank is different from money shops and pawnshops. When combined, the profits can actually be substantial. If managed well, there could be profits of at least a million a year." She then explained the general operations of the bank to the Emperor and others.
She had specifically looked into it and found that the local money shops did not offer interest and even charged a fee for keeping the money.
Similarly, the bank would not offer interest and would merely keep the silver safe for people. With the national treasury backing the bank, people wouldn’t have to worry about the bank embezzling their silver. As more people deposited money, the bank could then lend out the silver and earn a profit from the interest difference, which would definitely be very promising.
"Why would Jiujiu, of all people, think of opening a bank?" the Emperor asked, somewhat curious.
Yang Mengchen smiled and said, "Father, by opening this bank, I intend not only to earn silver to relieve Your worries and burdens. I also plan to spread this bank throughout the counties and even the small towns of Dong Chu, to develop it into a national bank, playing a role in adjustment and backup. This will cooperate with powerful local money shops to boost economic development and effectively prevent some disasters."
"Jiujiu’s idea is very good," Prince Ning praised repeatedly. Private money shops were of varying quality, often leading to fatal incidents. If the Imperial Court could regulate them, it was believed that disputes could be significantly reduced.
Grand Prince and Prince Kang also felt it was a good idea, and Long YiXuan, who always admired the Third Imperial Sister-in-Law, naturally supported it fully.
Setting aside whether the bank could have such a significant impact, just the fact that Jiujiu was wholeheartedly considering him and the state was enough for the Emperor to refrain from objecting: "Then, Jiujiu will be in full charge of this matter, with the Grand Prince overseeing it. Should you need me, Jiujiu, just speak to me directly."
The Grand Prince was known for his integrity and, having been in battles for many years, carried a chilling aura about him, which even the elders of the Imperial Family feared, not to mention common folk.
"Thank you, Father," Yan Mengchen said, nodding in agreement.
The Emperor had long favored Wende for succession. Yang Mengchen wanted to establish a bank also to lay a foundation for Wende to govern the country in the future.
In the following days, Yang Mengchen focused on setting up the bank. The credibility of the bank was paramount, and it couldn’t be established overnight. It would take years before significant development could occur. She wasn’t focused on immediate, exorbitant profits, but on the future, and therefore had to proceed steadily, step by step.
Since the Grand Prince was to assist Yang Mengchen in setting up the bank, the matter of security for the Four Nations Ceremony and the smelting of weapons naturally fell to Long Xuanmo to handle.
Yang Mengchen was aware of all the backers behind the money shops and pawnshops in The Capital. They were either rich or noble, and even intricately connected to several Princes and the Prince Mansion. Therefore, she went to the Emperor.
The same day, the Internal Affair Mansion announced the opening of the bank, which also functioned as a money shop, and planned to allocate two-tenths of the shares to the Imperial Clan for them to contribute. Each share cost ten thousand taels of silver, and the lead investor was the Grand Prince.
Although the Grand Prince had a good reputation, the Internal Affair Mansion was arrogant and overbearing. Moreover, one share wouldn’t yield much profit, so most of the eligible Clan members voluntarily gave up their slots.
Prince Ning, Prince Kang, and Long YiXuan immediately collected the shares that were given up. Prince Duan and Prince Jing, as well as Long Yisi, each arranged for their own people within the Clan to secure two shares (Yang Mengchen had limited this secretly). Yang Mengchen also allocated a few shares to the Hua family and several other households.
The Grand Prince found a suitable location, and Yang Mengchen arranged for Zhuang Ming to lead the craftsmen to start construction.
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