"The problem is, we don't have much money left."
Zhenyuan Marquis Gu Mingjiao said at this time.
"Loan! Get a loan from the Ming Bank. Didn't the imperial court now set up the Ming Bank to allow the people to borrow money? Let's also take a loan. Such a low-interest loan will be in vain!"
Dou Ding, whose eyes were red from gambling, said somewhat irrationally.
"I wonder if the imperial court is willing to give us a loan?"
Xu Hongji was not willing to invest money now, so he did not reject Dou Ding's proposal, he just said this.
…
"Give them loans, and lend them as much as they want. Anyway, they don't lack collateral. Houses, fields, shops, and domestic slaves can all be used as collateral."
But after Zhu Youxiao learned about it, he directly agreed to Daming Bank's loan to these people.
And for this reason, these Nanjing nobles, some wealthy families in Yingtian Prefecture, and the Ganghe Grain Shop all borrowed a large sum of money from the Ming Dynasty Bank to purchase grain.
Just not long after.
The price of grain dropped again, directly to one yuan and five cents silver coins per stone meter.
"What should I do? One stone of rice is only worth one yuan and five cents silver coins!"
Zhu Guobi was really panicked this time.
Gu Mingjiao also panicked and said, "How about we throw it away."
Dou Ding stayed up all night. With red eyes, he shook his head and said, "It's more important than ever to give up at this time. The court may be trying to deceive us. The court probably doesn't have much food left. It's definitely gone. Keep lending!"
Then, within a few days, the price of rice dropped to one yuan, three cents of silver coins, and one stone.
A few days later, the price of rice dropped directly to one yuan, two cents, and one stone.
Zhu Guobi and others found Dou Ding again.
Dou Ding still said: "Continue to lend!"
But a few days later, general stores and government-controlled grain stores directly lowered the price of rice to one yuan and ten silver coins per stone.
At this time, not only Zhu Guobi could not sit still, but Xu Hongji was also a little unable to sit still, so he took the initiative to ask Dou Ding: "Mr. Dou, what do you think?"
"Shouldn't it be? We have spent more than ten million taels of silver and borrowed a lot. How come the court can still let the price of food drop now?"
Dou Ding couldn't understand, so he said: "It's impossible to really get food from overseas."
"Everyone, everyone, I have just received reliable news that Shen Yourong, the commander-in-chief of Denglai, has returned from North Korea with three million stones of grain, and has now arrived at Liujiagang. Also, I heard that the imperial court also sent people to Japan to borrow food. Food, the imperial court really got food from overseas!"
At this time, Lingbihou Tang Xingzuo hurriedly ran over and said.
Xu Hongji was horrified after hearing this: "The imperial court really got food from overseas, and it was three million dan. Why is there so much, plus the losses on the road? Why is North Korea so generous?!"
Dou Ding fainted directly.
"what to do?"
Zhu Guobi asked at a loss, and then looked at Gu Mingjiao, Xu Hongji and other Nanjing dignitaries.
Xu Hongji said at this time: "Keep going."
"Well, if you keep insisting, I'll ask someone to borrow another loan."
Gu Mingjiao replied and left here.
Other nobles also left here one after another.
But as soon as these nobles left and Dou Ding, who had fainted, was carried into the house, Xu Hongji immediately called Xu Wenjue: "Hurry up and sell all the new grain in the house to the market and go to the major grain stores. Give them a low price, one yuan per stone of rice, no, nine ounces of money, and sell it to these grain shops as soon as possible, otherwise, the rice will be even less valuable if left in the house!"
In the Ming Dynasty, most small transactions of less than one silver coin still use copper coins.
The nine-diao coin is about the current nine-cent silver coin.
"Nine ounces of money, just sell it at the price of nine ounces of money. I'm still holding on. If I persist, when the grain from Japan arrives, the grain will not even be as good as gravel!"
As soon as Zhu Guobi came back, he hurriedly gave instructions to his housekeeper.
Although he said at the Duke of Wei's residence that he would persist, it was nothing but a lie. When he came back, he couldn't wait to sell off the grain in his hands.
"Hurry up and sell it! Other nobles will definitely throw it away. We have to get ahead of them and sell it directly for eight coins!"
Gu Mingjiao also ordered his butler at this time.
For a time, almost all the nobles and wealthy households in Nanjing were selling large amounts of grain. These large grain households began to invest grain frantically, and even actively begged grain shops to collect grain and lowered prices.
After Zhu Youxiao learned about this, he ordered: "According to the scheduled deployment, after the time is up, continue to reduce the price!"
So, after a period of time, general stores and government-controlled grain stores directly lowered the price of rice to seven cents.
"The court has lowered the price again? Then we will lower it too! Six ounces of money per stone!"
After Xu Hongji learned that the court had lowered the price of rice, he was eager to cash out and took the initiative to lower the price to six danqian per stone, but his heart was bleeding because he remembered that the price of his grain was not at this price before.
"That's right! Just five coins and one stone!"
Then, Zhu Youxiao agreed with Li Zhizao and others to lower the price of rice by five cents per stone.
"Eight hundred pennies for four!"
Xu Hongji gritted his teeth and said.
Gu Mingjiao decided to be more ruthless: "Seven hundred coins for four hangings."
But Zhu Youxiao was even more ruthless, saying: "Three hangings, five hundred coins and one stone!"
"Crazy! That solitary man is crazy! In order to kill us, he doesn't keep any grain in the warehouse, but wants to release it all and kill us completely!"
Xu Hongji was so angry that he started to curse.
"Your Majesty, you can't be like this. How can it be reduced to three cents, five hundred cents and one stone? How can we, the big households with enough food, survive? Woohoo!"
Gu Mingjiao burst into tears.
"Three hundred and fifty cents per dou! This can be done! Bastard! It's too much! Is this cheaper than the price of rice in the middle of Wanli?!"
Zhu Guobi lost his temper and cursed in his room.
Zhu Youxiao sneezed, and then continued to say to his ministers: "Yes, I just want to make the price of rice cheaper than the price in the middle of Wanli period. This is considered a prosperous age, and only when the price of grain is low enough can we have a prosperous age." Only by revitalizing the foundation of industry and commerce can the prosperous age continue! Otherwise, why would I let the navy go abroad to borrow so much grain? Is it to put it in the warehouse and then sit back and have nothing? Of course not! Continue to lower the price of grain and let the people Being able to afford rice is much more affordable than a simple measure of light corvee and low taxes!”
"According to the order!"
Han Xu, Xiong Tingbi and others immediately replied.
So, next, the price of food continued to fall, and it fell to the point where it was priced in stones, which was three ounces of money per stone.
"Down again?!"
Gu Mingjiao was completely speechless.
"It's not over yet!"
Zhu Guobi almost hit the wall.
"Can you let us take a breath! Can you stop descending?"
Xu Hongji also complained like this.
Two coins and one stone!
But as a result, grain prices fell again. General stores and government-controlled grain shops forcibly lowered the retail rice price to a level that was twice as cheap as it was in the middle of Wanli.
That was the prosperous age closest to the Ming Dynasty.
Prices are super low.
But now, Zhu Youxiao has made the price of food even cheaper than that era by borrowing food from Korea and Japan.
The people of Jiangnan are now used to it. No one cares about the price of rice anymore, and no one buys rice in large quantities anymore. They only buy the amount they need daily. After all, the price of rice has been falling, and no one is stupid enough to hoard rice.
Basically, it was due to the skyrocketing food prices caused by the application of new textile technology, which was solved by Zhu Youxiao by "borrowing food" from various countries.
"It's already two coins and one stone! Let's go and beg His Majesty!"
"Yes, you'd better go and beg. If things continue like this, the food in my house will be so cheap that even the servants can't afford it!"
"To honor our ancestors, let's beg your Majesty with a shy face."
However, Nanjing nobles such as Zhu Guobi and Gu Mingjiao did not become calm because of the drop in rice prices. Instead, they became increasingly uneasy. Now, they have begun to discuss begging the court for mercy and admitting defeat.
"That's fine!"
Duke Xu Hongji of Wei sighed and pointed at Dou Ding: "Then tie him up and say that he was the instigator. This way we can explain to His Majesty."
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