activa-t Chapter 83: What is taken from the people should be used for the people!
Chapter 83: What is taken from the people should be used for the people!
Beijing.
The Ministry of Revenue.
Looking at the summer tax revenue figures for the past few years that the Ministry of Revenue had just compiled, Minister Zhou Jing was shocked. His hand holding the report was trembling slightly.
He believed that after Zhu Houzhao's tax reform, the Ming Dynasty's tax revenue would definitely reach a new level.
But he never expected that he would receive so much income from summer taxes alone this year.
This year's summer tax revenue, including taxes in kind, totaled over 14 million shi (a unit of dry measure) of agricultural products such as rice, millet, and wheat.
It's important to understand that this data is based on the fact that less than half of the land nationwide has been surveyed.
If the survey of all the land in the Ming Dynasty is completed, the annual tax revenue in kind will easily exceed 100 million shi (a unit of dry measure).
Because the in-kind income from summer taxes is generally only one-third of that from autumn taxes.
Taking the tax revenue of the eighteenth year of the Hongzhi reign as an example, the total tax revenue in kind for the whole year was about 26 million shi, of which the summer tax revenue was about 7 million shi.
The current summer tax of the Ming Dynasty is more than 14 million shi (a unit of dry measure), which is double that of last year.
Once the entire country's land has been thoroughly surveyed, the summer tax will likely reach 26 million shi (a unit of dry measure).
Based on the proportion, the autumn tax should reach more than 70 million shi (a unit of dry measure).
In summary, an annual tax revenue exceeding 100 million koku is only a conservative estimate.
Collecting 100 million shi of grain as taxes annually was only a normal figure for the Ming Dynasty.
The previous year's tax revenue in kind, amounting to less than 30 million shi of grain, was far too low for the Ming Dynasty.
More importantly, although the Ming Dynasty's tax revenue increased exponentially, the burden on ordinary people did not increase exponentially.
It wasn't that the local gentry had a change of heart and chose to bear the extra tax themselves.
Rather, it was because the common people at the bottom of the Ming Dynasty had long been exploited to the extreme by the local landlords and gentry.
No matter how much they exploit the people, their income will not change significantly.
Therefore, the extra tax collected could only be borne by the landlords and gentry.
The amount of in-kind tax revenue collected during the summer of the first year of the Zhengde reign was astonishing.
However, compared to the commercial tax revenue from the summer tax in the first year of the Zhengde reign, it was nothing more than a drop in the ocean.
The commercial tax revenue in the first year of the Zhengde reign totaled 11.7 million taels of silver!
In a horizontal comparison, the commercial tax revenue in the summer of the eighteenth year of the Hongzhi reign was a paltry 2.16 million taels.
Such a huge sum of money made Zhou Jing's hands tremble with excitement. He blinked several times before he could make sure he wasn't seeing things.
Unlike in-kind taxes, the autumn commercial tax was three times higher than the summer tax. Generally speaking, the summer and autumn commercial taxes were roughly equal.
But the summer tax alone, the commercial tax of the Ming Dynasty, could collect more than 11 million taels.
Wouldn't the annual commercial tax revenue easily exceed 20 million taels of silver?
Thinking of this, Zhou Jing could no longer hold back the tears welling up in his eyes, and once again, tears streamed down his face.
From then on, the Ming Dynasty would never again lack food or silver!
At the same time, Zhou Jing also keenly realized that due to the high commercial taxes levied, prices in the Ming Dynasty had begun to spiral out of control.
Zhou Jing dared not delay and quickly picked up his pen to write a memorial. Before the ink was even dry, he rushed to the palace to meet the emperor!
……
Forbidden City.
Cining Palace.
Zhu Houzhao looked at the memorial presented by Zhou Jing in his hand and smiled with satisfaction.
"Excellent, very good, you did a great job."
Zhu Houzhao nodded repeatedly, satisfied with the summer tax revenue of the Ming Dynasty this year.
But then Zhou Jing frowned and said, "Your Majesty, although taxes are high, prices in various regions are already out of control!"
"The price of rice had already risen from 500 coins per shi (a unit of dry measure) to 700 coins, and now it has broken through the 1,000 coin mark!"
"It's not just rice; the prices of cloth, firewood, coal, tea, and other commodities have all gone crazy!"
"Your Majesty, if prices are not controlled soon, public discontent will surely boil over!"
"Your Majesty, do you think we should issue a decree to prohibit merchants from all over the country from price gouging?"
After pondering for a moment, Zhou Jing gave Zhu Houzhao a suggestion.
But Zhu Houzhao shook his head and smiled: "Business matters are best resolved using business methods."
"No matter how good my laws are, there's no guarantee that some merchants won't take the risk and disobey my orders."
"These businessmen, as long as there's a 300% profit, they'll dare to commit any crime, even one punishable by the execution of their entire family!"
"Even without laws, I have my own ways to make these people obedient."
Zhu Houzhao gave a cruel sneer and issued a stern order.
"Order Shangguan Haitang to activate the Ming Dynasty banks in various regions and sell goods at fair prices in strict accordance with the rules I have set."
"Furthermore, for those eligible for low-interest loans, timely review and swift approval are crucial, and the funds should be disbursed immediately!"
"Do you understand?!"
"Yes, Your Majesty."
Zhou Jing accepted the imperial decree with clasped hands, but the worry between his brows remained.
"Your Majesty, with your subsidies to the Ming Dynasty's banks, it will likely cost millions of taels of silver and grain to stabilize prices..."
"No matter the cost, no matter how much money or grain I have to subsidize, you must bring down prices!"
Zhu Houzhao waved his hand, his eyes firm and his tone resolute.
"My tax system is designed to collect the surplus money of landlords and gentry and use it to subsidize the common people of the Ming Dynasty!"
"Taxes should be taken from the people and used for the people; this is the true meaning of taxation!"
Zhu Houzhao's words were powerful and thought-provoking.
Upon hearing this, Zhou Jing felt a deep respect for Zhu Houzhao.
He didn't say anything more, but simply bowed deeply to Zhu Houzhao and left the Cining Palace.
Soon, Shangguan Haitang received the order from Zhu Houzhao.
Under Shangguan Haitang's instructions, the Daming Money Shops, which were located all over the Ming Dynasty, began selling rice to the public at a price of fifty cash per dou (a unit of dry measure).
Wheat was even cheaper, costing only thirty coins per dou.
Converted, one shi (a unit of dry measure) of rice at the Daming Bank cost 500 wen, and one shi of wheat cost 300 wen.
Rice cost 1,100 coins per shi (a unit of dry measure) and wheat cost 740 coins per shi (another unit of dry measure).
The grain sold at the Ming Dynasty Money Shop was less than half the price of grain on the market!
However, the Ming Dynasty bank had a rule that each person could only buy a maximum of one shi (a unit of dry measure) of grain, which was roughly equivalent to three months' worth of food for an adult.
As for those poor people who really had no spare money, after the Daming Money House reviewed their qualifications and determined that they still had the ability to work or repay,
They also lent him a bushel of grain at an annual interest rate of one percent to help him through his difficulties.
As soon as the grain from the Daming Money Shop was put on sale, it immediately attracted a frenzy of buying from people all over the country!
The name of the Great Ming Bank spread throughout the entire Ming Dynasty overnight!
And single-handedly, he gradually lowered the grain price across the entire Ming Dynasty!