Chapter 43: Discussing the Moneyhouse Once More

“This matter is simple, Uncle Fang. Over the past few days, I conducted an investigation and found that although the country is peaceful and the people live in safety, it has not been long since the world returned to order. Ordinary folk have little spare money to save. Those with some wealth are discouraged from depositing it in the banks because of storage fees, so most of the customers at the banks are the great noble families. Therefore, we can introduce two types of deposit services: fixed-term and demand deposits. For fixed-term deposits, the customer cannot withdraw their money for a certain period, but once that period is over, not only do they get back the full amount, they also receive a handsome interest. For demand deposits, we set a minimum threshold—deposits below a certain amount will not be accepted. This narrows the scope of our service and solves the issue of the cost of banknote production!”

“Fixed-term? Demand? Very good, an excellent idea. Go on!”

“Since we’ve narrowed the scope, it becomes much easier. To deposit money at the bank, the customer must obtain certification from the authorities. The government acts as guarantor for both sides: the bank requires proof from the authorities that the depositor’s funds are clean, and the depositor requires proof from the authorities that their money is indeed deposited in the bank. The certificate must bear the signatures and seals of all three parties and the official stamp to be valid. With additional anti-counterfeiting measures, this can effectively prevent forgery!”

Fang Xuanling’s eyes lit up. “Excellent! This is a good plan. Although this adds some tasks for the authorities, it is worth doing!”

“In fact, this is only a temporary measure. As the people’s lives become increasingly prosperous, we’ll inevitably need to expand our clientele, and this method will no longer suffice. Furthermore, the principle of the bank is never to involve itself in politics. Even in this cooperation with the authorities, the work must be handled by dedicated personnel, not mixed with other matters. Therefore, developing a feasible anti-counterfeiting banknote is imperative!”

Fang Xuanling looked approvingly at Li Yi. “Indeed, you are right. The bank must never be involved in politics!”

“Haha, the key to this issue is the authorities. Uncle Fang, you must be careful when selecting personnel for this task!”

“Rest assured, my boy. This is nothing I cannot handle. But what if someone deliberately tries to cause trouble?”

“Uncle Fang, have you forgotten the original purpose of our bank?”

Fang Xuanling slapped the table. “That’s right! Lure the snake from its hole! I’ve been so busy with all this lately, I almost forgot!”

“Haha! Uncle Fang, you must remember to rest!”

“You rascal, speaking of rest reminds me—did you invent all this new furniture in your house? It’s truly comfortable; you certainly know how to enjoy life!”

“Those are just some little amusements of mine. If you like them, I’ll have a few sets sent to you in a few days!”

“Haha! Then I won’t stand on ceremony! But save the gifts; I’ll pay you for them. During this critical period, we mustn’t draw too much attention.”

“Thank you for the reminder, Uncle Fang. I’ll be careful!”

“Oh, I almost forgot. Do you know anything about the construction of the bank? No one has ever done this before, so I’m not too clear about it myself.”

“That’s simple. The bank is mainly divided into three sections: the front hall, the offices, and the silver storage. The front hall serves the customers, the offices are for the staff, and as for the vault, I needn’t say more—you must be quite familiar with it. As it happens, I sketched some diagrams a few days ago; I’ll hand them over to you. By the way, I also invented a few small things recently. I’ll give them to you today, and you can present them to His Majesty on my behalf!”

“Oh? What have you invented this time?”

Li Yi chuckled and asked Bingyu to bring over the documents, which he then handed to Fang Xuanling.

Fang Xuanling took them and began to examine them carefully. After glancing at the diagrams, he set them aside, as those were matters for the craftsmen and not his main concern. He focused on Li Yi’s inventions instead.

At first, Fang Xuanling read with growing interest, especially when he came to the section on punctuation marks. As a scholar, he understood well the utility of punctuation, and the more he read, the more astonished and delighted he became. But when he reached the methods for horseshoes, pork preservation, and salt production, he could no longer contain himself. He slammed the table, grabbed Li Yi’s sleeve, and asked urgently, “My boy, are these methods you described real?”

Li Yi had just lifted a teacup, but Fang Xuanling’s sudden outburst startled him so much that he dropped it.

Li Yi looked at the wet patch on his trousers and smiled helplessly. “Uncle, please calm down. These are minor matters; let me change my trousers and I’ll be right back.”

Fang Xuanling grabbed Li Yi’s arm. “You rascal, you call these minor matters—what, then, is a major issue? Do you know the casualty rate of horses in a single battle? Sixty percent! Our Tang Empire is already short of horses, and with your horseshoe, this rate can be reduced by at least forty percent! And do you know how many people die every year in our empire due to lack of salt, especially soldiers on the frontier? Many die directly or indirectly from salt deficiency or poisoning! And do you realize how many common folk will benefit once your pork preservation method succeeds?”

Li Yi was stunned by the barrage of questions. “Uncle, please don’t get agitated. Is it really so serious? Didn’t the records say only twenty-nine deaths last year? And from what I’ve heard, rice costs just three or four qian per measure. The people may not be wealthy, but they’re not so poor as to be unable to eat meat, are they?”

Fang Xuanling gave Li Yi a look as if he were a fool. “A vast empire, and only twenty-nine deaths in a year, so soon after peace has been restored? Do you think that’s possible? Those twenty-nine were merely those sentenced to capital punishment last year. The real number of deaths is at least several hundred annually. How could it be just twenty-nine? As for meat, the people have a little spare cash, but there is simply too little meat! Without your pork preservation method, they can only eat fresh pork or hunt for wild game themselves—there is no other way, as meat is so scarce now!”

Li Yi thought for a moment. “If that’s the case, then the pork preservation method truly must be promoted widely! It can save the country a great deal of grain!”

“Oh? Save grain? How so? Raising pigs consumes grain!”

“Haha! Uncle Fang, you can’t just consider the cost and ignore the gains. Though pigs eat grain, it’s largely coarse fodder, and compared to the value of a pig, it’s a bargain. I once did an experiment: two equally robust men were made to fast all morning, then one was given four bowls of rice and some vegetables, the other a bowl of rice and a plate of meat. The one who ate meat felt fuller. I discovered that the nutrients in meat are equivalent to two or three bowls of rice, and those who eat meat regularly are much stronger! Besides, every part of the pig is valuable; everything can be eaten and is delicious. Most importantly, pork is rich in fat, so eating pork not only saves grain but also strengthens the body. Compared to this, do you think the grain spent on raising pigs is wasted?”