Chapter 468 Xue Baochai's Reform
Most surprisingly, Baochai later took the initiative to approach Daiyu and expressed her desire to invest in the Women's Academy.
"After this incident, I finally understand."
Baochai smiled bitterly.
“If a woman cannot stand on her own two feet, she will eventually be manipulated by others. I am thinking of incorporating the Xue family business into the academy. What do you think, sister?”
Daiyu was slightly taken aback. Many merchants would bring their businesses to invest in the Women's Academy, but this required detailed calculations and investigations by the academy's inspection team before approval could be granted. Since Baochai brought it up today, she must not have known about these regulations.
Daiyu pondered for a moment, then said gently, “Sister Bao, you may not know this, but the academy has strict regulations regarding investing in businesses. It requires three layers of review: first, a reputation investigation; second, an audit of the accounts; and finally, an evaluation by the person in charge. Even if it passes the review, it must first operate under a trial arrangement for six months under the guise of cooperation, and only after confirming that everything is in order can it be officially invested in.”
Upon hearing this, Baochai not only did not back down, but her eyes flashed with a determined light: "It is only right. May I ask if you could tell me the review criteria?"
Daiyu took out a thick book of regulations and handed it to Baochai: "This is the academy's 'Rules for Business Shareholding,' Sister Bao, you may wish to take a closer look."
Baochai took the agreement and saw that it was meticulously detailed, from the history of the business to its operations, from the manager's character to the employees' treatment.
The most stringent requirement is that the business must have no litigation disputes within the past three years and must not have any bad records such as market manipulation, usury, or other illegal activities.
When she turned to the entry related to the Xue family's business, Baochai's face gradually turned pale.
The inscription on it read: "Xue Family Bank was involved in three cases of usury; its silk shop was fined 5,000 taels of silver for selling inferior goods; and its pawnshop was sued by the court for forcibly seizing civilian property..."
“This…” Baochai’s forehead was covered in sweat. “The academy has found out all these old stories clearly.”
Daiyu sighed softly: "The academy's inspection team includes a retired legal expert who is most skilled at investigating these matters. However, the regulations also state that if one can prove they have reformed, the conditions may be relaxed accordingly."
Baochai took a deep breath: "I understand. Please arrange the first assessment, sister."
On the day of the evaluation, the Women's Academy sent five female examiners.
The fact that Yuan Hongqu personally led the team shows how important it was.
“Miss Xue,” Yuan Hongqu said bluntly, “according to our investigation, the Xue family pawnshop forcibly seized a farmer’s family heirloom last month. Is that true?”
Baochai's expression was solemn: "It is true. My brother handled the matter with that farmer. I have already ordered the pawnshop to return the treasure and compensate him with twenty taels of silver." She took out the receipt, "This is the farmer's signature."
After a careful examination, the inspector whispered a few words in Yuan Hongqu's ear.
Yuan Hongqu nodded and then asked, "The Xue family bank still has three outstanding loans with usurious interest. What is the explanation for that?"
Baochai calmly replied, "These three debts are all uncollectible, and the debtors have disappeared. However, I have set up a special fund, and if any aggrieved parties come looking for me, I will immediately make compensation." She took out a stack of silver notes, "This is five thousand taels of reserve silver, please examine it."
The entire day of assessment left Baochai drenched in sweat.
Some old issues that even she didn't know about were brought up by the inspector.
After the evaluation, Yuan Hongqu concluded: "Miss Xue's sincerity is commendable, but the Xue family has deep-seated problems. According to the rules, a second evaluation will be conducted in six months."
This result was within Baochai's expectations.
After seeing the inspectors off, she immediately began sweeping reforms.
The first thing to do was to regulate the pawnshops.
She personally oversaw the process, re-examining all pawned items and returning any that were of dubious origin.
One of the shopkeepers, relying on his seniority, shouted, "These were all handled by the Second Master, why is the young lady so particular?"
Baochai immediately slammed her hand on the table: "From today onwards, anyone who forcibly seizes people's property or cheats customers by lowering prices will be dismissed! If you disagree, feel free to take me to the authorities!"
The second thing was to settle the old accounts of the bank.
She took the account book and went door to door to find those who had borrowed money at exorbitant interest rates.
Some farmers, seeing her arrive, thought she was there to collect debts again and were so frightened they wanted to kneel down.
“Please rise, sir,” Baochai helped the old man up. “I’ve come to apologize. Back then, the Xue family lent money at exorbitant interest rates, which caused you great suffering.”
She not only forgave the debt, but also compensated for the interest.
The most troublesome ones are Xue Pan and Xia Jingui.
Hearing that Baochai wanted to reorganize the family business, the two argued with Aunt Xue: "Sister, are you trying to seize our power!"
Baochai remained calm and took out an account book: "Since you, brother and sister-in-law, are going to take charge of this, please explain these accounts clearly first. In the past three years, you have withdrawn 35,000 taels of silver from the shop. Where has it all been spent?"
Xue Pan stammered and couldn't answer.
Xia Jingui was about to throw another tantrum when Baochai said coldly, "If you feel wronged, sister-in-law, let's go to the Shuntian Prefecture and have a word with them. Let's see if you were right to embezzle public funds, or if I was wrong to reorganize the family business?"
Seeing this, Aunt Xue finally said, "This household will be managed by Bao'er. You and your husband will receive a monthly share of the profits from now on, and you are not allowed to interfere in the business anymore."
Xue Pan and his wife were still unconvinced, but Xue Pan thought that if the Women's Academy could bring up old grievances from years ago, it was inevitable that they would bring up the matter of killing Feng Yuan for Xiang Ling back then.
Although the matter was covered up at the time, and a lot of money was later paid to the Feng family, it was considered over. However, if the academy brings it up again, Xue Pan might have to suffer again.
Xue Baochai only discussed this matter privately with Aunt Xue, fearing that it might affect the Xue family's business and that she would join the Women's Academy.
These words quickly reached Xue Pan's ears. Xue Pan originally wanted to argue further, but after looking at his leg, which had been broken several times, he immediately backed down.
For so many years, he had always believed that the broken leg was the revenge of Feng Yuan's vengeful spirit, which was why he had broken his leg for no reason. During those two years, whenever his leg was about to heal, it would break again for no reason. His leg was broken four times in a row, and with the pain of having to break open the broken part and re-set the bone, Xue Pan dared not even think about it.
Xue Pan paced back and forth in the room, his leg, which had been repeatedly broken, throbbing with pain.
Xia Jingui sneered from the side, "Look at you, so pathetic! Your sister said she wanted to reorganize the family business, and you actually handed over all the power?"
"What do you know!" Xue Pan whirled around, cold sweat beading on his forehead. "That Heroine Academy... they even brought up old grievances from years ago. If they find out about Feng Yuan's affair..."
The room fell silent as soon as he said that.
Since Xia Jingui married Xue Pan, she has gradually learned over the past two years why Xue Pan came to the capital from Jinling.
Upon hearing this, her expression changed: "Didn't your family say that matter was settled a long time ago? The Feng family already received the money..."
Xue Pan slumped into the armchair, clutching his injured leg and muttering to himself, "End it? It's not that easy to end it... Do you know why my leg has been broken four times?"
He will never forget those two years of nightmares.
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