In truth, ever since Wei Yuan founded Qingyuan, Li Chengfeng and the leadership of the State of Zhao had felt tempted, and the King of Zhao had even deliberated issuing paper currency for Zhao.
Yet issuing a currency entailed far too much, and the underlying mechanics were extraordinarily complex. Qingming could compel its trading partners to use Qingyuan only because it was backed by world-beating grain, loom-woven brocade, forged armor, cloth, and Lesser Origin-Nourishing Pills.
Zhao, on the other hand, was largely self-sufficient, so the domestic utility of a new currency would be limited. Compounding the issue was a total lack of knowledgeable talent; the ministers were completely in the dark regarding paper money, unable to comprehend why they should bother with such a redundant chore when immortal silver was already in use.
At the time, the King of Zhao had been devoting all his strength to dealing with Western Jin and had no attention to spare, so the matter had simply fizzled out. As for Li Chengfeng, he was preoccupied with keeping a low profile and had only toyed with the concept in his thoughts. He never imagined that Zhang Sheng would proactively bring it up today.
Li Chengfeng's heart raced with excitement, but his face remained impassive. "May I ask what regulations and procedures are required to issue such a currency?"
Zhang Sheng replied, "A new currency is nothing more than a scrap of paper. For people to accept it, the paramount factor is credit. The Fourth Prince may deposit a reserve of immortal silver or essential goods in a bank, allowing anyone holding Bishui currency to redeem it freely. As long as goods can genuinely be exchanged, credit will naturally take root.
"The second aspect is minting and issuance. The key to minting lies in durability and resistance to counterfeiting, but those are minor technicalities, so I will not belabor them. Issuance can be conducted through the bank. As I see it, Bishui is currently populated mostly by soldiers' families and craftsmen. Simply disburse military payroll in the new currency, and mandate that passing merchant caravans transact in it as well. That alone will accomplish the greater part of the issuance."
Li Chengfeng ventured a probing question. "And what of trade with Qingming?"
Zhang Sheng said, "I certainly have no reason to distrust Your Highness. Therefore, Bishui currency may be exchanged for Qingyuan at a one-to-one ratio. Initially, we can exchange fifty million Qingyuan. Subsequent exchanges can simply be carried out between our respective banks. If Bishui Bank is unfamiliar with the operations, I can dispatch some hands from Qingming Bank to offer guidance, and recall them once Bishui Bank is capable of independent operation."
Li Chengfeng pondered it thoroughly, finding the scheme increasingly feasible the more he considered it. In particular, it struck him that the fifty million Qingyuan received in exchange could be deposited in the bank just like immortal silver for public redemption. Wouldn't that be equivalent to securing an additional fifty million in credit backing?
However, Li Chengfeng had never believed that good fortune fell from the heavens for free. Sitting composedly, he said, "I am endlessly grateful for Teacher Zhang's immense help. Yet I wonder what Teacher Zhang might require in return, so that I may show a token of my gratitude?"
Zhang Sheng mused for a moment, then said, "The Fourth Prince growing in power and prestige is the greatest benefit to Qingming. However..."
Knowing the crux of the matter had finally arrived, Li Chengfeng and his trusted aides pricked up their ears, listening with rapt attention.
Zhang Sheng said, "At present, Zhao has severed formal relations with Qingming, leaving Bishui as the sole port of transit, which poses considerable inconvenience. I wish to establish several trading posts within Zhao territory and organize several traveling merchant caravans to facilitate the circulation of goods. However, these trading posts and caravans require unrestricted passage within Zhao, so I would like to establish them under the Fourth Prince's name."
Li Chengfeng's expression immediately stiffened. Throughout the territories of the nine states of Great Tang, checkpoints were ubiquitous, all extracting transit taxes on trade. These toll stations could be established by anyone from royal houses down to county magistrates and commandery governors, and under a bewildering array of pretexts. A king celebrating a birthday could spawn over a hundred new tax levies across the land; a prince reaching his one-month milestone might add a dozen more.
Li Chengfeng said, "It is not that I wish to make excuses, but my name is not always of much use. If they enter territory held by the Crown Prince's faction, flying my banner would do more harm than good."
"No matter. Go wherever you can."
Seeing that Zhang Sheng was unbothered, Li Chengfeng turned to his attendants. "Pass down my order: prepare documents for ten trading posts and three merchant caravans immediately, to be completed within the day. Teacher Zhang, do you find this sufficient?"
Zhang Sheng nodded. "More than enough."
"And regarding the Bishui currency..."
Zhang Sheng said, "Tomorrow I shall instruct Qingming Bank to establish a presence in Bishui, and sufficient personnel will arrive to guide Bishui Bank. Your Highness need only prepare the printing techniques. Once Bishui currency is officially issued, I will exchange fifty million Qingyuan with you."
What followed were matters of detail, which naturally required no direct labor from Li Chengfeng or Zhang Sheng; subordinates were left to attend to them.
Li Chengfeng's demeanor grew markedly warmer, and he sought to persuade Zhang Sheng to stay a few days longer. Zhang Sheng politely declined, then said, "I still must make a trip to Yuyang Commandery."
Li Chengfeng was taken aback. "What could possibly be worth your attention in Yuyang?"
Zhang Sheng said, "The nine western counties of Yuyang have flourished once more and now boast a sizable population. I intend to go have a look and round up some unclaimed refugees."
Li Chengfeng stared in disbelief. Yuyang Commandery was currently resettling migrants to reclaim abandoned land; where would any refugees come from? From the sound of Zhang Sheng's words, if there were no refugees, she fully intended to manufacture some.
The Qingming army mobilized shortly thereafter, marching sluggishly toward Yuyang Commandery. Not long after their departure, an advance scout returned to report to Li Chengfeng, claiming that shortly after leaving the Bishui domain, the Qingming soldiers had donned mismatched garments and raised the banner of the 'Dark Dragon Gang.'
Li Chengfeng's face twisted into an odd expression. Those Qingming warriors were uniformly outfitted in heavy armor from head to toe; how could they have changed their clothes?
The scout replied that they had simply tossed ragged garments over their heavy armor before charging off toward Yuyang Commandery.
Li Chengfeng felt an overwhelming urge to cover his face with both hands. This teacher of Wei Yuan's could not even be bothered to put on a convincing act.
After a moment's hesitation, he caught the meaningful looks from the advisors around him and sighed, "Report this to Father King..."
Not long after the courier bound for the royal court departed, Li Chengfeng received another secret report. It stated that another host of iron cavalry, numbering tens of thousands, had already skirted past the Bishui domain, pursuing Zhang Sheng toward the northeast. Judging by the uniforms and banners, it appeared to be the army of Li Zhi, the Mountain-Suppressing Military Commissioner.
Li Chengfeng's expression darkened. "When did Li Zhi amass fifty thousand cavalry? That brat..."
He paced back and forth across the hall, circling dozens of times before finally snapping, "Muster the troops! We march to see what he is really up to! I told Father King long ago that this fellow was born with the bone of rebellion and would never stay content. Father King refused to listen and even bestowed such a prime post upon him."
A moment later, horns sounded long across Bishui City. The army assembled once more, setting out in pursuit of Zhang Sheng and Li Zhi.
***
In Yuyang Commandery City, Cui Shutong was holding a book, lecturing several dozen clan youths. These were his nephews or younger members of his clan. Because of his repeated military blunders and defeats against Qingming, the King of Zhao had stripped away much of his authority. Although he still retained the title of Pacification Commissioner, his influence was a shadow of its former self.
Nowadays, in his spare time, he enjoyed teaching the clan's younger generation and lecturing on history.
Just as he was speaking with great fervor, an attendant rushed into the study hall and whispered, "Lord Pacification Commissioner, we have urgent military intelligence! A band of fierce bandits has appeared outside the commandery, only a single day's march away!"
Cui Shutong's expression did not waver. "Fierce bandits? How fierce?"
"Over ten thousand strong, all heavy armored cavalry, accompanied by dozens of war chariots—ten of which are main battle chariots capable of carrying a hundred men and armed with heavy cannons!"
Cui Shutong's hand gave a violent tremor, nearly dropping the book to the floor. "Main battle chariots?! You dare tell me these are bandits?!"
The attendant whispered, "My Lord, it was the rule you established yourself: so long as an approaching force flies a bandit banner, they are bandits. This company is flying the banner of the Dark Dragon Gang."
"The Dark Dragon Gang? When did such a gang ever exist? Never mind, forget all that! Assemble the generals and convene the council!"
Moments later, the generals were gathered in the Pacification Commissioner's yamen. Clad in full armor, Cui Shutong studied the map with a grim countenance. At present, his forces in Yuyang Commandery numbered eighty thousand on paper at best; deducting ghost rolls, the elderly, the sick, and the infirm, a mere fifty thousand remained.
Facing ten thousand fully armored Qingming elites with fifty thousand border troops, even someone with Cui Shutong's absolute confidence in the men he had personally drilled felt uneasy in his heart, daring not claim victory. It was not that he was cowardly or averse to battle, but rather that his past defeats had simply been too crushing.
When Wei Yuan had taken office as Minister of Southern Military Affairs, Cui Shutong had secretly integrated his own units into the Sixth Princess's army, intending to test Wei Yuan's caliber. In the end, before any measure of the man could be taken, the troops he had dispatched were utterly annihilated. The few survivors who fled back could not even explain how they had lost; they only spoke of blinding flashes of fire and deafening roars, after which the comrades around them were inexplicably gone, without ever catching so much as a glimpse of a Qingming soldier's face.
Yet now the enemy had arrived at his doorstep; refusing to give battle was utterly out of the question. Seeing the generals below him looking as pale as dirt, fury flared within Cui Shutong. "These fierce bandits push us too far! Hear my command: prepare for war! Tomorrow the entire army marches out to engage the enemy!"
No sooner had the words left his mouth than a voice rang through the hall: "Splendid! That is precisely the spirit!"
The moment they heard that voice, the assembled generals scrambled to their feet, dropping to their knees in welcome.
The King of Zhao strode inside and declared, "This battle must certainly be fought, but not in such a fashion. I grant you thirty thousand iron cavalry. Do you dare take the field?"
The iron cavalry of the State of Zhao was renowned throughout the realm, their combat strength far surpassing Cui Shutong's fifty thousand border guards. What was more, Zhao's cavalry had recently been equipped with short-barreled fire guns for close defense, elevating their lethality to another level.
Cui Shutong said in a solemn voice, "Your subject shall fight to the death to repay Your Majesty's grace!"
The King of Zhao burst into hearty laughter, stepping forward to help Cui Shutong to his feet. "Talk of fighting to the death is terribly inauspicious. In this battle, I await only your glorious tidings, so that those savage bandits may witness the majesty of Great Zhao's iron cavalry! Old Cui, you began your career as a cavalry commander in your younger days—can you still ride a horse?"
With a complex expression, Cui Shutong replied, "I have not neglected the way of the bow and horse for a single day!"
"Good! In tomorrow's decisive battle, I shall personally oversee the central army to bolster your renown!"
Chapter 904