Chapter 1260: The Great Tang’s Chamberlain of Palace Revenues, a Master at Currying Favor
Translated by: Hypersheep325
Edited by: Michyrr
“Ah!”
Yang Zhao was immediately struck dumb, his face turning the color of a sheet of paper while the cold sweat poured out at an even faster rate. At this time, he finally felt a little regret over his excessive avarice when taking the position of Chamberlain of Palace Revenues.
Wang Chong said nothing, but his finger began to lightly tap against the table. No matter the generation, or what parallel universe or alternate spacetime one occupied, monetary inflation was always a very significant problem. A minor consequence would be to drag a prosperous country into a recession while in more serious cases, the country would collapse. In the end, the ones who were burdened the most were the common people.
All their wealth would have been plundered and they would only be left with a pile of worthless paper currency.
The tapping of Wang Chong’s finger echoed through the study. After some time, Wang Chong finally spoke.
“Relax. The situation hasn’t gotten that bad yet. Fortunately, you were able to realize these potential problems beforehand, giving us enough time. There’s no need for you to recall the gold yuan certificates just yet. Dredging the river is superior to building dams, and that’s what we should aim to do.”
“What do you mean by ‘dredging’?” Yang Zhao immediately asked, his eyes brimming with hope.
“It’s very simple. The great clans and common people don’t accept gold yuan certificates because you printed too many. There are so many circulating in the marketplace that the Great Tang momentarily can’t digest them all. So if this money is spent and digested, the problem can be solved,” Wang Chong confidently said, his eyes shining with profound light.
“Ah?”
Yang Zhao was befuddled. Wang Chong himself had said that there were too many gold yuan certificates for the system to digest. In this situation, how could the money be spent?
“Heh, of course, the Great Tang isn’t digesting it, but you’ve forgotten that the Great Tang has many countries on its borders: Ü-Tsang, Arabia, Goguryeo, the Eastern and Western Turks, the Xi, the Khitans, Mengshe Zhao, and the many kingdoms of the Western Regions. Aren’t these all potential markets?”
Wang Chong’s eyes blazed as he answered the question on Yang Zhao’s mind.
“In this past, we might not have been able to do anything, but haven’t the surrounding countries all signed treaties with the Great Tang now? Since they’ve signed treaties, they shouldn’t be able to refuse the gold yuan certificates. Countries probably wouldn’t do something that would show such a lack of trust, right? Since that’s the case, we’ll just push the gold yuan certificates to the countries bordering the Great Tang!”
The many countries were sitting on the sidelines as the Great Tang’s militarists and Confucians battled it out, and some were even fueling the fire. It was about time that they paid the ‘price’.
Buzz!
Wang Chong spoke very nonchalantly, but his words were like a peal of thunder in Yang Zhao’s ears.
The countries around the Great Tang…
For Yang Zhao, Wang Chong’s words had opened a whole new door. Not even at his greediest and craziest would he have ever dared to think of such an idea. He had always heard that Wang Chong’s art of war was abnormal and unconventional, causing all other generals to seem dim in comparison, but Yang Zhao had never been interested in war. Now, however, he had a firsthand experience of Wang Chong’s unconventional style of thinking.
This truly was the case!
The normal trading activity of the Great Tang would not be able to digest one billion taels’ worth of gold yuan certificates. Even the Arabian Empire’s one billion taels of gold had been paid out from the treasury of Mutasim III and had not actually been circulating in the marketplace. But if these gold yuan certificates were circulated to Ü-Tsang, Arabia, the Eastern and Western Turks, Goguryeo, Mengshe Zhao, and all the other countries, digesting them would be no problem at all.
If those prosperous Hu merchants accepted the gold yuan certificates, then even one billion was just a drop in the bucket, vanishingly insignificant. Moreover, if this happened, not only would they not have to recall the gold yuan certificates, they could print even more—two billion, three billion, five billion, perhaps even more.
Yang Zhao had to admit that he was tempted.
Wang Chong had been watching Yang Zhao this entire time, taking in the shifts on his face. Finally, he smiled, and took a sip of his tea, knowing that Yang Zhao had completely understood. Probably only someone of Yang Zhao’s talents could promote the gold yuan certificates and allow them to exhibit their full might, and he also needed proper motivation to do so.
“Notice! Under user’s full support, a special historical incident has taken place, unlocking the special mission ‘World Currency’! User is rewarded 2000 points of Destiny Energy. In addition, starting from now, for every ten million taels’ worth of gold yuan certificates printed, user will be rewarded with 100 points of Destiny Energy. When the total value of gold yuan certificates reaches five billion and ten billion taels, user will obtain an additional reward!
“The wheels of history roll forward, and since ancient times, no one has ever circulated a currency that was accepted by all the countries of the world as a ‘world currency’. Anyone who controls the ‘world currency’ will hold an endless stream of wealth and grasp the lifelines of all other empires. Upon mission completion, user will be granted an immense reward!”
At this moment, the Stone of Destiny’s voice resounded in his mind. Wang Chong was taken aback by the voice, but his lips quickly curved into a smile. It had always been his goal to make the gold yuan certificates into a ‘world currency’.
“Worthy brother, many thanks! Wonderful… I just knew that you would be able to help me out!”
Yang Zhao had no idea what had happened to Wang Chong. His eyes were shining and his face was red with excitement.
But Yang Zhao quickly realized something, and the passion in his heart died down. “But Ü-Tsang, Arabia, and the other countries aren’t fools. They’re used to using gold and silver in their transactions and might not accept this money. In addition, if not even our own people will accept it, they’re probably even less likely to.”
Ü-Tsang, Arabia, and Goguryeo were intelligent countries, and they wouldn’t accept anything that would adversely affect them. Moreover, the Great Tang had fought with all these empires before, giving them even less reason to accept the gold yuan certificates.
“Heh, even if they don’t want to accept the gold yuan certificates, their opposition is pointless. Starting from now, you can issue an order that for any goods being brought out of the country, at least half the price must be paid in gold yuan certificates. Moreover, all deals must be verified at the local government office and provided with a proof of certification. In addition, anyone who pays with gold yuan certificates will have their customs duties waived!”
Wang Chong gently smiled as he took a sugared fruit from a dish on the table and ate it. He then confidently continued, “In addition, the primary goods being traded are tea leaves, silk, porcelain, and salt. Starting from now, they can only be paid for with gold yuan certificates. Anyone who privately uses gold or silver to exchange for these products will be heavily punished and stripped of their right to trade. In addition, all the Hu merchants engaged in business within the Central Plains must exchange for a certain number of gold yuan certificates at the government office to obtain a permit for trading within the Great Tang. They will also have certain customs duties waived.
“Of the Hu merchants who come to do business in the Central Plains, eighty percent come for tea leaves, silk, and porcelain. If they can only buy these things with gold yuan certificates, they cannot refuse them. In addition, human nature tries to avoid harm. Once they realize the benefits to exchanging for gold yuan certificates, they’ll definitely accept them! Moreover, with the wealthy Hu merchants as models, the Hu of the various countries and the ordinary people will follow their example. Once using gold yuan certificates becomes a habit, they will soon spread to all the other empires. And the convenience that comes with carrying around gold yuan certificates will cause it to be accepted on a large scale by all the other countries.
“This also means that besides the large-denomination gold yuan certificates, the empire will also have to start printing ones of smaller denomination. One tael of gold, two taels, five taels, ten, one hundred… all of these small denominations of gold yuan certificate must be printed. Only this will allow them to be used on a large scale.”
Wang Chong tirelessly explained the entire strategy for the gold yuan certificates. This was a way to constrain powerful countries, and in the Great Tang’s current situation, with its military suppressed and the protectorate armies reduced, the gold yuan certificates were the only tool the Great Tang had to restrain the other countries and place it in an advantageous position.
Yang Zhao was listening this entire time, and the more he listened, the brighter his eyes became and the more energetic his expression. The clouds of worry were swept away, and by the end, he regarded Wang Chong even more as a celestial being.
“Hahaha, worthy brother! I, Yang Zhao, rarely admire another, but this time, your foolish brother truly prostrates himself to you! Truly, there is no problem in this world that you cannot solve! There are times when I really want to know how your head is built. If the matter of the gold yuan certificates is really as you describe, your foolish brother isn’t far from another promotion!”
Yang Zhao couldn’t help but loudly laugh once more, and there was not even a speck of worry or unease left on his face.
Suddenly Yang Zhao said something rather surprising. “Right! Now that you mention it, I actually tried what you were saying not too long ago.”
“Ah?”
Wang Chong looked at Yang Zhao in shock.
“Heh, although you’re called the War God and are regarded as nigh omnipotent, you still don’t know about this matter.”
Yang Zhao chuckled, a mysterious look on his face. But before Wang Chong could ask, he couldn’t help but brag about it himself.
“Do you remember the treaty the Great Tang signed with Arabia that had us return seven hundred million taels of gold to Arabia?”
“!!!”
Even someone as composed and steady as Wang Chong couldn’t help but be shocked by this question.
Wang Chong suddenly realized something and stared at Yang Zhao in disbelief. “Big Brother, you didn’t…”
The Great Tang and Arabia had made peace with each other, even signing a treaty. Wang Chong had never imagined that Yang Zhao had dared to mess around in something so important.
“Just how much of the seven hundred million taels of gold did you mess around with?” Wang Chong directly asked.
“It wasn’t much, only three hundred million. I sent people to secretly exchange that three hundred million taels of gold to three hundred million in gold yuan certificates…”
Yang Zhao felt rather embarrassed under Wang Chong’s stares. After all, this wasn’t exactly a very glorious matter. As Yang Zhao spoke, he unconsciously lowered the volume of his voice.
Wang Chong stared at Yang Zhao, speechless.
Three hundred million taels of gold!
He had truly underestimated him. His sworn brother was simply a genius!!