Chapter 143: Disaster Relief Without Food but with Banknotes! (2 / 2)

“The one he’s close with—Lian… Lian Hang, a official in the Ministry of War—should go with him. That way, they can still accompany each other during court sessions, avoiding separation due to differences in rank.”

“Although Princess Wanshou will be the lead officer this time, I’ll assign her two experienced deputies. If she proves incapable, the deputies can take over to prevent any disasters.”

This plan showcased the emperor’s meticulous and comprehensive thinking.

The next day, Xu Yanmiao received his orders.

The disaster relief mission to Fujian would be led by Princess Wanshou, supported by Shen Guifang, Minister of Justice, and Liang Rui, an assistant minister in the Ministry of Justice. Additionally, Xu Yanmiao from the Ministry of Personnel and Lian Hang from the Ministry of War would accompany them.

The relief team was further supplemented by a contingent of Imperial Guards, with martial-skilled women specifically assigned to protect Princess Wanshou. Among them was none other than Miss Jin.

The journey from the capital to Fujian covered nearly 3,000 li (approximately 1,500 kilometers). Given the need to transport supplies, the team would require at least a month to reach their destination.

For the first three to four days, Princess Wanshou managed to remain patient. However, by the seventh or eighth day, she grew anxious and asked the two experienced officials, “With travel taking so long, won’t the local disaster victims suffer even more?”

There was nothing they could do—flying wasn’t an option.

The Minister of Justice, his brows furrowed with worry throughout the journey, patiently explained when asked, “Your Highness, disaster relief has always been like this. If the afflicted area is close to the capital, a Censor can ride swiftly to the scene. But for far-off regions, it all depends on the competence of local officials. Regardless, having a Censor present is crucial. Many officials will only exert themselves fully when they know they’re being watched by a Censor.”

In other words, if the disaster zone was far away, no one expected these capital officials to arrive immediately and take charge. Their role was to wrap up the efforts and assess whether local officials had handled the situation diligently.

Princess Wanshou asked, “What if the local officials are incompetent or corrupt?”

The Minister of Justice said nothing.

After several moments of silence, Princess Wanshou understood. If they encountered inept officials or those exploiting the disaster for personal gain, there was no immediate remedy. Such individuals could only be executed after the fact.

With that, Princess Wanshou also fell silent.

Sitting on the carriage’s shaft, Xu Yanmiao flipped through reports about Fujian, snow piling thickly on his shoulders. His frown deepened as he read. Leaning toward Lian Hang, he said, “Lian-lang, I have a question for you.”

Just as the Ministry of War official was about to answer, Xu Yanmiao abruptly jumped off the carriage. “Wait, I need to ask the Minister about this!”

Xu Yanmiao posed his question to the Minister of Justice: “Since the founding of our dynasty, has the exchange rate of Daxia Baochao (paper currency) for copper coins decreased?”

The Daxia Baochao was the paper currency of the Xia dynasty. Paper money had been used since the previous dynasty, and Xia inherited the Zhou system, including its paper currency.

At the beginning of the Tiantong reign, one guan of Baochao could be exchanged for 1,000 copper coins.

The previous dynasty often used paper currency to pay officials. For reasons unknown, the old emperor hadn’t followed this tradition, so Xu Yanmiao had never paid much attention to whether the Baochao had depreciated.

The Minister of Justice confirmed, “Nowadays, one guan of Baochao can only be exchanged for 100 copper coins.”

Xu Yanmiao: “…”

[Good heavens, it’s been devalued to one-tenth of its original value. Just how much Baochao has the court printed in the past thirty-something years?]

[This is bad. That idiotic disaster relief proposal from the Fujian Governor is probably going to be approved.]

Although they were handling affairs outside the capital, everyone present still held official positions within the central government and could hear Xu Yanmiao’s inner thoughts.

The Minister of Justice furrowed his brows even tighter. “Why has Xu Lang suddenly brought this up? Are you concerned His Majesty might resort to using Baochao for disaster relief?”

[The old emperor might not think of it himself, but it only takes one ‘brilliant’ suggestion!]

[How did that Fujian Governor even get his position? To propose printing over a million liang

worth of Baochao, equivalent to fifty million copper coins, to buy grain—what utter nonsense! And he sent this memorial to the emperor through expedited delivery. It’s pure chaos! Even I, who know little about economics, understand you can’t flood the market with that much paper money all at once!]

[Calm down. Maybe the ministers in court are economically savvy, and the emperor will listen to reason!]

[Besides, since the emperor hasn’t used Baochao to pay officials’ salaries, it proves he must have some understanding of economics, right?]

While his mind raced, Xu Yanmiao only vaguely replied, “It’s a valid concern.”

Beside him, Liang Rui imagined the chaos of over a million liang worth of Baochao flooding the marketplace. The very thought made his scalp tingle, and he quickly suggested, “That might actually happen. Xu Lang, come back with me to the capital! Your Highness, the Minister, and official Lian can continue to Fujian!”

“Huh? Alright!” Xu Yanmiao sighed, “But I can’t ride a horse.”

Liang Rui calmly replied, “We’ve prepared a bamboo carriage for you.”

The snow was heavy that day, so the court session was held indoors.

In the grand hall, the envoy sent by the Fujian Governor passionately presented his proposal. “Your Majesty! This is the solution! Fujian is suffering a severe drought, the disaster victims lack food, and the court has limited funds. Why not print over a million liang worth of Baochao to purchase grain from other provinces and help the people through this crisis?”

The Vice Minister of Revenue, who had been agonizing over the empty state treasury for days, suddenly lit up, his bloodshot eyes gleaming. He stepped forward eagerly. “Your Majesty! This appears to be a sound strategy for governance…”

The old emperor was moved. “In that case…”@@novelbin@@

A familiar voice, filled with shock, rang out—

[No way! The old emperor actually believes this nonsense?!]

The old emperor felt a familiar throb of pain in his temples. He looked sharply toward the source of the voice and spotted Xu Yanmiao standing outside the hall. Though he couldn’t see the man’s expression, his inner thoughts were clear—

[Even the Vice Minister of Revenue believes this? You’re the Vice Minister of Revenue! The official in charge of the court’s finances!]

From this, the emperor could easily imagine Xu Yanmiao’s expression: utterly stunned, as if he’d seen a ghost.

The old emperor: “…”

The Vice Minister of Revenue: “…”

Suddenly, the Vice Minister couldn’t shake the feeling that he’d just been labeled an idiot.

The Baochao in this story is based on the Ming dynasty Baochao:

In the 8th year of Hongwu, 1 guan of Baochao could be exchanged for 1,000 copper coins.

By the 23rd year of Hongwu, 1 guan could only exchange for 350 copper coins.

By the 28th year of Hongwu, it was reduced to 100 copper coins.

Regarding whether anyone would propose such an idea and whether the court might agree to it, this draws inspiration from historical events:

During the Chongzhen period, a scholar named Jiang Chen proposed printing 30 million guan worth of paper currency annually, with each guan valued at one tael of gold.

The Vice Minister of Revenue, Wang Ao-yong, supported the idea, suggesting that printing 50 million guan in the first year could bring in 50 million taels of copper coins. With so much copper in circulation, its value would eventually be equivalent to land.

On using Baochao for disaster relief, this is based on historical records:

The Minister of Justice, Tang Duo, was sent to Shandong with over a million liang worth of Baochao to provide famine relief for the people of Deng and Lai prefectures.—From Ming Shilu: Taizu Shilu