Uncle from a poor family

Chapter 805 Finance
The money exchange officially opened for business.

Many high-ranking officials and dignitaries in the capital sent people to inquire about the situation.

Although the money shop has not officially launched its loan business, its deposit and withdrawal business has been operating normally. For the first time, it has clearly stipulated the interest details for deposits of three months, one year, three years, and five years, which has attracted worldwide attention.

Before this, there was no concept of interest when depositing money in money shops; on the contrary, a certain amount of storage fees had to be paid. Now, as long as you deposit money in a money shop, you can steadily make money, which is enviable.

People in this era had virtually no concept of financial fraud. In addition, the money exchange had created a huge buzz, with the imperial court backing it and Huizhou merchants joining in. By all accounts, depositing money here to earn interest seemed like a sure-fire way to make money.

The capital city is never short of hidden millionaires, especially officials and the businessmen behind them. They have all sorts of money of dubious origin. In the past, they would find a place, dig a hole, bury the silver and copper coins, and dig them out to use when needed.

Nowadays, you can earn interest simply by depositing money in a money exchange, without taking any risks whatsoever.

In this way, building basements or digging tunnels to store silver and copper coins became a losing proposition. Whether they were landlords or merchants, they couldn't stand not making money, and they didn't care whether others were after their principal. They were only focused on depositing their money in banks to earn interest.

In this way, it indirectly promoted the circulation of silver and greatly alleviated the silver shortage that should have occurred in the mid-Ming Dynasty.

Zhang Yanling doesn't personally greet customers who intend to deposit money; he delegates the task directly to his experienced managers... Over the past year, he has gathered a group of financial talents under his command.

Most of them were born into slavery families, like the Changshun family.

Of course, Zhang Yanling was also afraid of internal corruption. The best way was to integrate the resources and hand them over to a specific group of people to manage, similar to professional managers. They would be given a business scope and goals, and a bottom-ranking elimination system would be implemented.

With the rise of family-based systems in this era, it was easy for corruption to occur. Zhang Yanling preferred to delegate power, but not entirely to his subordinates. He also established a comprehensive oversight system, which included departments that would periodically and suddenly enter the banks to conduct surprise audits.

It's not that Zhang Yanling has to trust outsiders, but rather that... there really isn't anyone in the Zhang family who can be entrusted with anything. For example, the Chai Meng and Chai Shuang siblings have been working with him for a long time and are already considered veteran employees, but they can't be responsible for everything.

A craze for money shops has swept through the capital.

Many people wanted to follow suit and open their own money shops, but they only had a superficial understanding of the operating model of these shops, and without a strong backing, they could only watch helplessly.

That day, just before nightfall, Zhang Luan arrived at the courtyard where he kept his mistress.

He looked exhausted. As soon as he sat down in the living room, Qi Niang had already served him tea and had someone bring him some silver.

Zhang Luan looked completely bewildered and asked, "Qi Niang, what are you doing?"

Zhang Luan clearly believed that the woman in the outer quarters thought he was destitute and was preparing to secretly help him.

Or perhaps Qi Niang wanted to secretly help Li Zisheng overcome his difficulties?

Lady Qi said tactfully, "My lord, this is some of my savings. I've heard that a money exchange has opened in the capital, and the big boss behind it is the Second Young Master. I'd like to ask you for a favor..."

"You took out the money yourself, and you're saying you're helping me?"

Zhang Luan was a little confused and frowned, saying, "I really don't understand what Yanling is up to, and it doesn't seem like he can help you with anything."

Qi Niang quickly said, "It's like this, many high-ranking officials and nobles in the capital want to deposit their silver in money shops. I heard that the interest rates are very high, but because the quota is limited and the qualification review for depositing silver is quite strict, it is difficult for me to get in... So I would like to ask you, sir, to help me deposit my silver in a money shop."

"what?"

Zhang Luan's eyes widened as he asked, "Qi Niang, no offense, but are you sure this is feasible? What if the money is deposited and then lost?"

"No way?"

Qi Niang was completely bewildered.

How could you look down on your son so much?

Zhang Luan said, "There used to be quite a few people in the private sector who specialized in dismantling. They all made grand promises at the beginning, but some of them ran away halfway through, while others were arrested by the government and all their money was confiscated! Your money is for your retirement, so I dare not make decisions for you..."

Qi Niang quickly protested, "I didn't ask you to make the decision. I just wanted to deposit the money into the bank through you. No one forced me; I just wanted to do it myself."

"how much is it?"

Zhang Luan asked.

"About three hundred taels of silver."

Qi Niang said, "These are all the money I've saved up over the years through hard work. I also have some gold and silver jewelry, and another house in the capital. If you ever find it too much and I have to leave, I'll have a place to stay."

Zhang Luan laughed and said, "Hey, not bad, you've even found a way out? Oh right, didn't Pang Bingkun deposit a lot of silver here on behalf of Lizi Province? How much exactly?"

Qi Niang quickly said, "Master, please don't misunderstand. I haven't dared to touch that money at all... Haven't I shown you the accounts?"

"You showed it to me? I remember I had a few drinks at the time and didn't pay much attention."

Zhang Luan waved his hand and said, "I'm not doubting you, but... I really feel guilty. You've been with me for so long, and I haven't given you a single benefit... How about this, I'll go see my son later and get some money from him in advance, then I'll give you all a reward."

Qi Niang's almond-shaped eyes widened as she asked, "Master, what are you doing?"

Zhang Luan said helplessly, "Look at me, I'm an official in the court, and my salary should be quite high, but I've never been able to withdraw it."

"I heard that the imperial court previously issued back salaries, and some people received back pay for more than ten or twenty years at once, while others received it for several years. That's a considerable sum."

"And what about me? I haven't been in the government long enough, so even if I get a make-up payment, it won't be much. And there's no big income back home! So I can only... make you suffer."

Qi Niang shook her head and said, "I am not wronged."

“If I don’t give you money, I’ll be too embarrassed to come back,” Zhang Luan said. “How about this, I’ll go to Wu’er tomorrow and ask him for some money! He’s built such a big business, he should at least give me some money for expenses, right? As for your savings… I’ll ask him about it in detail later.”

Lady Qi smiled broadly and said, "Thank you for your help, sir. However, I've heard that the Second Young Master is a very busy man, and it's quite difficult for ordinary people to even see him..."

Zhang Luan said, "What kind of talk is that? I am his father... You can meet the Grand Secretary and the Vice Minister of War, but I can't even see my son? It's not that exaggerated. If I ask him to come, he will definitely come."

"Yes."

Qi Niang thought to herself, "Does your son really listen to you?"

We all know each other well; who doesn't know that you're just a figurehead in front of your son?

Sir, stop showing off.

Let's talk about it when we can get your son here.

……

……

Zhang Luan truly kept his word.

The next day, without leaving the courtyard, she sent someone to fetch her son. It wasn't until after noon that Zhang Yanling finally arrived, though Zhang Luan didn't lose face in front of Qi Niang.

After Zhang Yanling entered, he plopped down in the chair in the center of the living room and picked up a palm-leaf fan to fan himself.

"Why are you here just now?"

Zhang Luan emerged from the inner room, dressed in loose clothes, clearly because it was very hot. He had hurriedly put on some clothes before leaving the room, followed closely by Qi Niang.

While fanning himself vigorously, Zhang Yanling asked, "Father, why did you call me here? Don't you know I'm very busy right now?"

Qi Niang covered her mouth and chuckled to herself.

Look, your son looks down on you as his father.

However, the fact that you were able to bring your son here shows your skill; it's not an easy thing for others to see this God of Wealth.

Zhang Luan said, "Look at you, you're not even behaving properly in front of your father! You're almost just like your older brother... I called you over because I have something to discuss... Oh, by the way, didn't Chang Shun tell you to bring some silver? I'm a little short on cash. You give your older brother some money when you have time, but I'd like to spend some money. Will you give me some?"

"Here."

Zhang Yanling shrugged and said, "I've had a thousand taels of silver delivered to you by carriage! If that's not enough, I can't help you!" "A thousand taels? Okay, okay."

Upon hearing his son's generosity, Zhang Luan instantly lost his temper.

If I give you money, you're a good son, and I'll call you Dad.

Zhang Yanling said, "But don't make me come here in person... Also, Father, what exactly do you need this money for?"

"Never mind that!"

Zhang Luan said, "Let me ask you, if this silver were deposited in your bank, how much interest would you earn in a year?"

"Thirty taels, I suppose."

Zhang Yanling said.

"Only thirty taels?"

Zhang Luan was shocked and asked, "If you lend money out like that, wouldn't you earn five or six hundred taels a year?"

Zhang Yanling said, "Father, it's true that we run a money exchange, but we don't lend money at high interest rates. Three percent interest per year is already quite high, isn't it? Our family is different from others. We value our reputation, so even if we lend money in the future, the interest rate will not exceed 20% per year. So the difference isn't that big... The specifics will depend on the actual situation."

Zhang Luan asked doubtfully, "You've already made money from money, so why are you talking about morality and integrity? This kind of business will be criticized at any time."

"is it?"

Zhang Yanling laughed and said, "But aren't money transactions, even private lending, normal business activities? Father, do you want to deposit money? Should I deposit this thousand taels into your account?"

Zhang Luan frowned and shook his head, saying, "I deposit a thousand taels, and I'll only get a thousand and thirty taels back a year later... Am I crazy? Just have someone put the silver box down."

Zhang Yanling said, "So you're saying you called me here for no other reason?"

Qi Niang quickly looked at Zhang Luan with pleading eyes.

“Tell him yourself,” Zhang Luan said impatiently. “I just don’t understand. With such low interest rates, what’s the point of saving? It’s like this, Aunt Qi… wants to deposit three hundred taels! Will you accept it? I heard it’s quite difficult to earn that little interest from you?”

Zhang Yanling smiled and said, "Father, do you know what is the most precious thing in this world? Or rather, what is the biggest worry when lending money to others?"

"Is there even a question? Of course we can't take it back!"

Zhang Luan said, "I used to borrow a lot of money from others."

“Yes, Dad, you borrow from others, and others borrow from you. Whether you repay or not depends entirely on your credit. And what I provide is a platform with good credit… The interest rate may not seem high, but it’s stable and you can withdraw your money at any time. If it’s a fixed-term loan, then there’s a different story!”

"What do you mean?"

Zhang Luan asked curiously.

Zhang Yanling said, "If you deposit it and decide to withdraw it after two years, and something unexpected happens during the period, you will only receive very low interest. But if you withdraw it at the end of the term, you will get fifty taels of interest every year for a thousand taels of silver, and one hundred taels when you withdraw it in one lump sum at the end of the term. And for a three-year term, you will get as much as eighty taels of interest every year, and two hundred and forty taels when you withdraw it at the end of the term... You can get two hundred and forty taels in three years without doing anything!"

“I already have a thousand taels of silver, why would I need two hundred and forty taels?” Zhang Luan said.

Zhang Yanling laughed and said, "Father, you are rich and powerful, always asking your son for money to spend, but others are not like that... Father, tell me, how much silver did you send to the court after you became an official?"

Zhang Luan said, "You mean to say that others care a lot about this money, is that right?"

"Of course."

Zhang Yanling said, "These days, even if you buy land, can you produce 80 taels a year for 1,000 taels? Besides, where are there so many lands to sell around the capital?"
"Besides, my silver is of clean origin and of high quality; it's all top-grade official silver! Even if you don't want to withdraw it, I have silver notes as collateral, which you can use for transactions. Since there's interest involved, everyone would want to hold onto it!"

Zhang Luan said, "That's well said. Qi Niang, are you going to save it or not?"

"live."

Qi Niang quickly said, "I hope the Second Young Master will give me this opportunity."

Zhang Luan asked, "You kid, are you any good?"

“Father, your son is now a man of great importance, can’t you at least give me some respect?” Zhang Yanling said. “We’re family, I won’t mince words, let’s leave it at that. I’ll arrange for someone to coordinate with Aunt Qi later.”

Zhang Luan said, "You little rascal, you're really something else!"

……

……

Zhang Yanling's promise regarding Qi Niang's deposit is considered a done deal.

After Zhang Yanling left.

Zhang Luan couldn't resist opening the silver chest in the courtyard. A thousand taels of silver was no small amount, weighing several dozen kilograms. He tried to lift the chest, but it wouldn't budge. He pushed it again and realized that he was so weak that he could barely move.

"Let me slow down."

This ordeal left him quite exhausted.

Lady Qi said, "Master, aren't you taking this silver back to the manor?"

Zhang Luan waved his hand and said, "The family isn't short of money. This is what my son sent here for expenses. One thousand taels of silver, how do you think it's appropriate to allocate it?"

Lady Qi laughed and said, "How could I dare to make such a decision?"

"Let me think... there are quite a few people in this courtyard."

Zhang Luan counted on his fingers for a while, then said, "I initially thought it was quite a lot, but now it seems that it won't be much when divided among everyone. How about this, give each person ten taels of silver first, and then divide the rest according to distance, giving each person an extra ten or twenty taels... You take two hundred taels first. Is that enough?"

"How could I dare to ask for so much?"

Qi Niang clearly hadn't expected Zhang Luan to be so generous.

Zhang Luan said, “I haven’t brought you anything before, but you always take care of me. Even when I’m sick, you’re by my side. I still think this little bit of money is too little… I didn’t plan ahead this time. The expenses for this courtyard are so high. I’ll have my son bring more later…”

Qi Niang smiled and said, "Master, actually, the people in this courtyard are not here to work because of the reward money... They are just glad that they have food to eat, they can't ask for more."

"We can't always treat them unfairly, can we?"

Zhang Luan said, "Those servants who come to help with the work, each of them will receive one or two taels of silver. You decide how to distribute it! In general, any leftovers will be put into the general ledger."

Lady Qi said, "Master is truly generous."

"You call this generous? It's only a thousand taels of silver."

Zhang Luan sighed, "When I sent silver to Lizi Province before, it was always tens of thousands of taels each time. And when I raised money and grain for the imperial court, it was also... It feels like a lot of silver passed through my hands, but in the end, very little of it ended up in my hands. Now that I think about it, I'm clearly a poor man myself."

At this moment, Qi Niang's admiration for Zhang Luan increased even further. She smiled and said, "Master has always been for the sake of the Ming Dynasty, for His Majesty, and for others. Such a person is a pillar of the Ming Dynasty."

Zhang Luan waved his hand and said, "I'm just a rich idler, don't flatter me. Hurry up and think about how to make money! I don't want this place to always be so lifeless... I have to be a decent head of the family! When I come here, people should respect me, not fear me. I don't want to be disliked."

Qi Niang smiled.

He thought to himself, "You think you can change everyone's opinion of you just by giving me a little money?"

Which woman would willingly become someone else's mistress, with no hope for the rest of her life? Of course, money would be better, since even if the women in this courtyard were given freedom, they would still need to be able to survive.

Money is precisely what the people in this courtyard rely on last.

(End of this chapter)