Of course, Liu Ba didn’t feel confident before getting involved, but once he did, he realized that his Money Exchange needed to be linked with the Mount Tai Bank. Moreover, the aristocratic family had already agreed to Chen Xi’s request, and seventy percent of the money had been transferred to the Headquarters of Mount Tai by Chen Xi.
If it weren’t for this constraint, Chen Xi wouldn’t dare to open a bank in Cao Cao’s territory, as it involved bearing credit risk. However, after taking seventy percent of the cash, the credit risk was already very minimal.
After all, the ti required to travel back and forth between the Yongliang Bank and the Headquarters of Mount Tai was sufficient for Chen Xi to rob Peter to pay Paul. Basically, unless a large-scale run happened, a credit crisis was now impossible.
Moreover, with the copper gradually being transported from Luzon to Donglai, and then transferred to Fenggao, the comrcial center of the world set by Chen Xi, and under Wang Xiu’s supervision causing the money to flow into the hands of aristocratic families and the common people, any potential credit issues could be completely erased.
To be honest, if it weren’t for privately engraving the Hou Yin Yi family’s seal, Chen Xi wouldn’t dare to use his own seal as a benchmark for credit currency. Furthermore, Chen Xi made three copies of everything, checking them one by one in front of all those who handled ticket exchanges. This formality was what reassured the aristocratic families the most.
This isn’t sothing that can be explained quickly with a simple phrase like robbing Peter to pay Paul. Establishing this system involved setting up rchants, managing comrce uniformly, drafting rules, and regulating the comrcial system before it gradually beca independent.
Precisely because Chen Xi had previously sent people to supervise the transactions between large rchants, ensuring stability within trade associations, and had supervisors act as interdiaries to guarantee deals, this led to countless large-scale transactions a year promoting comrcial prosperity while also making big rchants understand the importance of interdiaries for large transactions.
No one wanted to carry tons of copper coins for transactions. Instead, they’d store the money with an interdiary, fetch their goods, and then Chen Xi, as a competent interdiary, would instantly complete the money transfer to the recipient.
After all, even escorting hundreds of millions of money along Liu Bei’s official road could not guarantee absolute safety, let alone in areas like Cao Cao’s. If it got robbed, you’d be crying. But by giving the money to Chen Xi, he’d imdiately debit the amount, and the recipient’s prefecture would disburse the money from the governnt treasury directly.
Of course, this was also because the power structure was just established, and there weren’t any notable factions. This central governnt collecting money and the prefecture signing off on transactions was accepted. This transaction thod was indeed fast and very safe, so all rchants hoped to join this thod of trade.
Chen Xi’s original intention was to let aristocratic families and local tyrants savor the benefits and then join this trading thod. So after other rchants made the request, Chen Xi collected a hefty mbership fee and agreed to their inclusion. Naturally, Chen Xi’s economic intelligence beca more complete.
Others couldn’t see the complete comrcial intelligence of the world; even the three managers of the trade association couldn’t fully see the information concerning comrcial activities affecting the people’s livelihood. But with the entry of large rchants across the world, Chen Xi gained access to comrcial intelligence from all over.
Chen Xi was not like those rchants looking for a buyer. Last year Chen Xi was already manipulating everything from behind the scenes, which is why Chen Xi could guarantee he wouldn’t lose money.
When soone wanted sothing, Chen Xi ordered his people to check and buy it at a low price, then imdiately flipped it, gaining money in hand. Even if it’s just a five percent interest, the profits from hundreds of millions amount to several million money.
Incidentally, because of Chen Xi’s actions, Fenggao claid it could buy anything in the world and also sell what you have fastest. Due to having comrcial intelligence on world exchanges, Chen Xi’s side basically needed everything.
Initially, Chen Xi even had over a hundred aliases specifically for acquiring and selling various items. Of course, Fenggao also sold so intelligence officially.
For example, who wants this batch of goods or at what price, or I want sothing, who has it, the asking price isn’t high, typically ranging from one gold to ten gold.
However, many were fake intelligence hung by Chen Xi’s aliases, but the purchase of intelligence never ceased, with Chen Xi’s aliases constantly buying and selling.
Sadly, the good tis ended in the second half of last year as a group of rushed rchants started doing this, and more and more followed suit.
Because of so much official intervention from Fenggao, eventually, rchants at Fenggao got used to the official presence, as the officials could guarantee they wouldn’t be cheated, and Chen Xi despised those who didn’t follow the rules, squashing several violators as an example.
Thus, rchants, along with the aristocratic families behind them, highly regarded the credibility of official decisions. Then one day, Chen Xi suddenly felt running around every day as a middleman was too troubleso and maintaining too many people was burdenso. Let’s change our approach.
This approach was the so-called Money Exchange Voucher, the reason the aristocratic families never doubted it, as they always considered it akin to previous interdiary vouchers. Moreover, this new voucher barely qualified as being witnessed by Chen Xi, as it bore his personally stamped seal, in triplicate.
But unlike interdiaries, this voucher was paper-based and could be carried around anyti. No matter how good your relationship with an interdiary, you couldn’t possibly carry them around with you.
People have a lazy nature, and although it was Chen Xi who indulged this, nobody knew who first initiated using ticket exchange certificates for trade. Afterwards, all aristocratic families and local tyrants followed suit, as it was much more convenient than carrying around lots of money, hence large-amount transactions increased.
When this trading thod first erged, Chen Xi even pretended to warn aristocratic families and large rchants, advising them not to proceed as it would confuse them when the authorities co to pay.
As a result, the eloquent Chen Xi was persuaded by those money-loving folks. Indeed, blocking their money-making path, the combat power they exhibited was astonishingly convincing.
The aristocratic families and large rchants had experienced the convenience of this trading thod, and having them revert to the old thod of pulling carts with tons of money, taking over a month to reach another state, and risking their lives for the trade—wouldn’t that be crazy?
Thus Chen Xi was convinced by the aristocratic families and large rchants, but he added many restrictions, one being a security deposit, another that large-amount withdrawals must be done personally, essentially preparing for black money.
The Bank of England back then was just as secure; only the individual themselves could withdraw money. If the individual wasn’t present, no matter who you were—a direct lineage, sister, or parents—it was entirely useless. That’s how secure we were.
Of course, Chen Xi wouldn’t lower his standards that much; he still paid so attention to appearances. However, for so whose entire family bid farewell, sorry, this was chaotic tis, who knows if you’ll also say goodbye soday.
Thus, if Sun Ce and Cao Cao did eliminate so wealthy rchant who paid the security deposit, Liu Bei’s side could take a share. Hence, when Chen Xi occasionally ran out of money, he’d secretly sell black materials of unscrupulous rchants to Cao Cao. (To be continued. If you like this work, please visit qidian to vote for recomndations and monthly votes; your support is my greatest motivation. Mobile users, please visit m.qidian to read.)
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