Inside Taiping Prefecture, the council meeting continued.
“Now that Yuan Shao has returned to Wei Commandery…”
Zhang Jing spoke with a serious expression.
“With the autumn harvest upon us, it’s unlikely that Hebei will see another major war anytime soon.”
“Tao Qian and Gongsun Zan lack the strength to launch an offensive.”
“Yuan Shu is occupied with consolidating Yang Province.”
“As a result, the Central Plains are enjoying a rare period of peace.”
“We should seize this opportunity to recuperate and strengthen Taiping Prefecture.”
The civil officials nodded in agreement, already considering practical ways to carry out the plan.
The military officers were much simpler.
They merely turned their attention toward their lord, waiting for him to continue.
“Therefore…”
Zhang Jing went on, “I believe Taiping Prefecture should mint its own currency.”
“We should establish a commercial network throughout our four commanderies.”
“Using that network, we can also conduct trade with the other provinces, exchanging goods according to each region’s needs.”
Minting one’s own currency was hardly unusual in this era.
The most famous example was Dong Zhuo.
While in Chang’an, he had minted small-denomination coins.
The experiment had ended in disaster.
Grain prices in Guanzhong eventually soared to hundreds of thousands of cash per shi—so exorbitant they were almost comparable to famine prices.
Later, both Liu Bei and Sun Quan would also mint large-denomination coins.
Liu Bei’s new coinage was valued at one coin for every hundred standard Wuzhu coins.
Sun Quan’s was valued at one for every five hundred.
Each had their own reasons for issuing new currency.
Yet both ultimately failed.
Liu Bei used the inflated coinage to extract wealth from the people and expand his military resources.
In doing so, he lost a great deal of popular support.
Sun Quan likewise burdened the populace.
In the end, he was forced to redeem the newly issued coins at their original value in order to regain public trust.
Their policies could be considered this era’s version of a currency war.
And Zhang Jing wanted to play that game as well.
The profits to be gained were simply too great.
Moreover as an independent regime, Taiping Prefecture genuinely needed its own currency.
“Currency?”
The officials exchanged surprised looks.
Aside from Cheng Yu, everyone was hearing of this plan for the first time.
Even Xun You and Guo Jia wore solemn expressions.
“My lord is wise. I support the proposal.”
Cheng Yu rose and bowed respectfully.
“We concur!”
The others immediately understood and likewise stood to salute in agreement.
“Within Taiping Prefecture…”
Zhang Jing continued, “Our currency will consist of three denominations—gold, silver, and copper.”
“They will be exchangeable according to fixed values.”
“I’ll first explain my ideas.”
“Then all of you may offer your own opinions so that we can perfect the system together.”
Gold and silver were already used for trade in this era.
However, they were reserved almost exclusively for large-scale transactions.
Ordinary commoners, many of whom struggled just to survive, rarely came into contact with them.
Zhang Jing intended to bring them fully into the open and establish a standardized monetary system around them.
At first, he had even considered introducing paper money.
But after weighing its uncertainties ,its lack of stability and the difficulty ordinary people would have accepting it…
He ultimately abandoned the idea.
Paper currency might be convenient to carry but it was easily damaged by water.
Gold, silver, and copper were far more durable.
Besides, he had no desire to spend years continually redesigning and replacing banknotes.
Half an hour later…
After extensive discussion, Zhang Jing and the officials reached a final decision.
The new gold, silver, and copper coins would all follow the size and design of the traditional Wuzhu coin.
Each would bear the four characters:
“Prosperity and Great Peace” (Shengshi Taiping)
All three denominations would be identical in size.
Their values would be fixed as follows:
1 gold coin = 20 silver coins
1 silver coin = 100 copper coins
The combined weight of five gold coins would be almost exactly equal to one traditional Han jin of gold.
This would discourage at least some forms of profiteering and currency speculation by merchants.
As for eliminating such practices entirely, Zhang Jing believed that even another two thousand years wouldn’t be enough to accomplish that.
“Gongda.”
Turning toward Xun You, Zhang Jing said, “The general framework has now been decided.”
“I’ll leave the minting of the new currency in your hands.”
“I accept the assignment.”
Xun You bowed respectfully, his expression grave.
He understood that this responsibility concerned the very foundation of Taiping Prefecture’s economy.
He dared not take it lightly.
“Zhongde.”
Zhang Jing nodded before looking toward Cheng Yu.
“After this meeting, immediately organize the Taiping Chamber of Commerce.”
“Construct guild offices in every township, village, and county under our jurisdiction.”
“Gather together the necessities of daily life—food, clothing, and other essential goods.”
“And sell them through these offices at prices the common people can afford.”
The Taiping Chamber of Commerce would function much like an official state-run supply and distribution system.
At present, the common people under Taiping Prefecture’s rule possessed almost no money.
So where would their money come from?
Naturally from the autumn harvest.
Once the harvest was complete, the people could exchange grain for currency.
Officials, soldiers, and craftsmen, meanwhile, would receive money through Taiping Prefecture’s salary system.
In this way, The commercial network throughout the four commanderies would gradually come back to life.
Of course, that process would take time.
“Your subordinate accepts the order.”
Cheng Yu bowed respectfully.
“Wang Du.”
Zhang Jing turned toward him.
“After this meeting, assist Zhongde in establishing the Chamber of Commerce offices.”
“Your subordinate accepts the order.”
Wang Du’s face immediately fell, but he nevertheless stood and accepted the assignment.
“Boning.”
Taking a sip of tea, Zhang Jing looked toward Man Chong.
“How many registered law enforcers do we currently have?”
“My lord.”
Man Chong bowed respectfully before replying, “Excluding the five hundred stationed at the main camp, we currently have nine hundred and thirty-seven registered law enforcers.”
“I see.”
Zhang Jing nodded.
“Once Taiping Prefecture’s currency enters circulation, there will inevitably be no shortage of trouble.”
“After all, wealth stirs people’s greed.”
“You oversee the laws of Taiping Prefecture.”
“Do not disgrace the Blade of Judgment entrusted to you.”
“My lord, rest assured.”
Man Chong clasped his fists solemnly.
“I will not disappoint your expectations, nor will I disgrace the Blade of Judgment.”
Ever since assuming office…
Public security throughout the four commanderies had improved at a pace visible to the naked eye.
By now, Man Chong could confidently declare that in most of Taiping Prefecture’s counties, people could leave their doors unlocked even at night.
Over the past months…
He had dealt with countless troublemakers.
He was confident that even after the new currency entered circulation, he would be able to maintain order.
“I have every confidence in you, Boning.”
Zhang Jing smiled and nodded.
He naturally trusted this famous, hard-handed official whose name would be recorded in history.
The council meeting continued until the Hour of Shen (around 3–5 p.m.).
After it concluded, Zhang Jing leaned over his desk to write a letter to his pen pal, Yuan Shu.
After all, Yuan Shu was the man Zhang Jing had already identified as Heaven’s Chosen.
He certainly couldn’t keep such important news from him.
Zhang Jing refused to believe that after his little performance of “observing the celestial omens,” Yuan Shu wouldn’t be completely convinced by the time next year arrived.
…………..
Early June, You Province.
Guangyang Commandery, Ji County — Provincial Governor’s Residence.
Liu Yu, dressed in a dark black robe, his hair and beard streaked with gray, sat at the seat of honor.
Below him, the civil and military officials stood in separate ranks.
“My lord.”
A middle-aged official with a grave expression stepped forward and bowed respectfully.
“General Gongsun has once again submitted a request for provisions.”
“I ask that you make a decision.”
The so-called “request for provisions” was, in plain terms, asking to borrow supplies.
When Zhao Qi had first arrived, Gongsun Zan had used the opportunity to make peace with Yuan Shao.
But that had been little more than a façade.
Deep down…
Gongsun Zan had never abandoned his ambition to seize Ji Province.
Over the past months, he had continuously recruited more troops in preparation for another campaign against Yuan Shao.
The problem was…
He was not the provincial governor.
Nor did he possess the ability to govern territory or provide for the people.
Recruiting soldiers was easy.
Supporting them was another matter entirely.
The provisions for his army had all been “borrowed” from Liu Yu.
In truth…
They had been little more than outright demands.
“Denied.”
Liu Yu’s expression darkened.
“That Gongsun Zan knows only how to flaunt brute force.”
“He allows his troops to plunder the common people without restraint.”
“In what way is such behavior any different from the barbarian tribes beyond the frontier?”
— The end of the Chapter–
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