Chapter 694

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“Private businesses and open workshops?”

Princess Pingyang’s face lit up with joy. She had come for this very matter; Xiao Ming clearly understood her thoughts.

However, she had always harbored doubts about Xiao Ming’s enthusiasm for business, so she asked, “Why does Your Majesty have such a special preference for commerce?”

Xiao Ming smiled, “Imperial Highness is mistaken. Industry is the pillar of commerce, so for me, I value industry more than commerce.”

After a moment of contemplation, he said, “The strength or weakness of a nation depends on the wealth or poverty of its people, and the wealth or poverty of its people depends on the abundance of its products, and the abundance of its products arises from industry.”

Princess Pingyang frowned slightly. Although her vision was not as broad as Xiao Ming’s, she understood the meaning of Xiao Ming’s words.

So she said, “Does Your Majesty intend to have merchants build a large number of workshops this time?”

Xiao Ming nodded. The fundamental purpose of this reform was to revitalize industry. The scarcity of war materials during this northern war made him deeply realize that Qingzhou Province’s industrial capacity was insufficient.

If he wanted to establish an industrial system similar to those of Western countries, he must encourage the common people and merchants to participate in industrial construction.

With more workshops, the Great Yu Empire’s products would become abundant. With abundant products, they could be sold to other places, which would bring money to the common people, and the nation would become rich and powerful.

“Yes, this time I not only want to encourage the building of workshops, but also plan to sell steam engines to merchants, allowing them to build workshops within the six prefecture of Qingzhou”

This was something Xiao Ming had hesitated about for a long time. The steam engine could no longer be kept hidden. As a source of power, he had to popularize it among the people to unleash its maximum value.

And with the sale of steam engines, he would open up industries such as textiles to merchants, ensuring that the people had clothes to wear after ensuring they had food to eat.

“Steam engines?” Princess Pingyang was shocked.

The steam engine had always been a very mysterious thing. She had only heard of it and never seen its true form. Now that Xiao Ming openly stated that he would sell steam engines, this made her momentarily unable to react.

These were the things Xiao Ming wanted to tell Princess Pingyang. He exhorted, “Imperial Highness, tell them this is a rare opportunity. Whether they can seize it depends on themselves.”

Princess Pingyang nodded, “Your Majesty, after I return, I will summon them and discuss this matter, and also give them a good talking-to on behalf of Your Majesty.”

Xiao Ming was naturally pleased with this. Throughout history, imperial relatives were strictly guarded against, hence they were not allowed to engage in business or politics, being raised almost like pigs.

After a few more words with Princess Pingyang about industry and commerce, Princess Pingyang bid farewell and departed. At this point, Xiao Ming continued to write an imperial edict, which would mark the beginning of industrial prosperity in the six prefecture.

The next day, at the morning court session, Xiao Ming had Qian Dafu read out the imperial edict, officially establishing the support and protection for the establishment of private workshops.

At the same time, in the imperial edict, he introduced three new terms: the first was capital, the second was industry, and the third was company.

The main purpose of this imperial edict was to use the power of the imperial court to foster the development of private capital. For this purpose, the imperial edict proposed four policies.

The first policy was to abolish checkpoints in various parts of the north, connecting the north into a single entity, allowing goods to be freely sold in the north. At the same time, it fully took over and expanded the mines of rebellious feudal lords and powerful families, transforming them into imperial court-controlled mining enterprises and building modern mines and smelting workshops.

The second policy was to open up advanced technologies and machinery such as steam engines and textile machines to the common people, and at the same time, transform previously backward crafts and equipment.

The third policy was to open up industries such as textiles, white sugar, and soap to the common people. The fourth policy required the Qingzhou Bank to provide financial support to individuals, and also required the imperial court to provide silver to encourage the development of private capital.

As soon as this policy was announced, the council hall was in an uproar. In their view, the Emperor’s reform steps this time were far too drastic.

“Your Majesty, merchants do not focus on production or farming, and agriculture is the foundation of the nation. If this continues, there will be problems with grain,” Fei Ji said.

“Your Majesty, please reconsider. We, your humble subjects, are not opposing Your Majesty, but merely hope that Your Majesty can also consider agriculture,” the ministers said one after another.

In a time of insufficient productivity, Xiao Ming would naturally not be so foolish as to abandon agriculture. So he said, “Promoting commerce and encouraging agriculture are not contradictory. After all, those who can engage in commerce are a minority. In the future, the prefectural office will not only pay more attention to agriculture, but also use tools such as grain drillers and steam pumps for agricultural purposes.”

Fei Ji and others whispered upon hearing this; Xiao Ming’s words reassured them.

Pang Yukun did not raise any objections this time, as this was within his expectations. Xiao Ming had previously encouraged commercial development, and this time it was merely more thorough.

In his opinion, the fundamental reason for Xiao Ming’s determination this time was that the north was now basically stable and could make great strides forward, so that in the future they would have sufficient resources to defeat the barbarians.

Seeing that none of the ministers had any objections, he said, “If you have anything to say today, speak now. After this morning court session, the contents of this imperial edict will be implemented in the six provinces. If anyone obstructs it then, do not blame me for being merciless.”

“Yes, Your Majesty,” a group of ministers bowed and said.

After the Yu Ming incident, these ministers were noticeably more docile. Now that Xiao Ming held great power and his position was unshakable, they could only be more obedient in front of him.

Nodding, Xiao Ming looked at Pang Yukun, “Senior Grand Secretary Pang, how much silver is left in the imperial treasury?”

“Reporting to Your Majesty, there are now only thirteen million taels of silver,” Pang Yukun said succinctly. He was most familiar with the imperial treasury.

Xiao Ming had a headache. This long war had impoverished him. He said, “Take out six million taels of silver to support and encourage the development of private workshops.”

“Six million taels!”

The ministers in the council hall gasped. This time, Xiao Ming was truly determined.

The expressions of the ministers were seen by Xiao Ming. He said to them, “After discussing the support and encouragement for the development of private capital, I will talk about you. All this silver is going to the common people. If any of you dare to reach out, I will chop off your hands. At the same time, any official is forbidden from engaging in business or seeking private gain. Otherwise, once discovered, you will be immediately dismissed and punished according to your crime.”

In the Western world, officials were merchants, and merchants were officials, so the state always served capital.

But now, the Great Yu Empire still prioritized officials. He did not want officials and merchants to collude and harm the interests of the Great Yu Empire, so he gave them a warning in advance.

He was very clear that as he unleashed this beast of capital, a double-edged sword hung over his head.

He wasn’t sure when this double-edged sword would fall, but at least one thing was clear: after this court session, the Great Yu Empire would, like Western countries, unleash the spark of capital.