Black Corporation: Joseon [EN]: Chapter 1037

1037. That Thrilling Name… Electricity. (5)

As Jewish people suddenly appeared in the Empire’s capital market, the managers overseeing the investment funds and the officials from the Ministry of Finance immediately requested cooperation from the General Affairs Department, the Ministry of Foreign Affairs, and the Ministry of National Defense. Through inter-ministerial cooperation, the officials identified the Jewish investors and promptly reported this to Emperor Hyeon.

Hyeon, having received the report, looked around at his ministers.

“So, these Jewish people invested their assets in the investment fund? The issue is their past occupations; while many come from established merchant families, many others were involved in usury [lending money at exorbitant interest rates]?”

“That is correct, Your Majesty.”

“Usury, hmm…”

Hyeon stroked his chin. One of the Empire’s primary public welfare concerns was private finance.

* * *

When Sejong initiated reforms, one of his first targets was usury. Unimaginably high interest rates forced people to sell themselves or their children into slavery, leading to a surplus of privately owned slaves. In fact, selling oneself was often the preferable option.

It was also common to deceive less educated commoners with loan documents filled with complex Chinese characters. Worse, under the guise of collecting interest or principal, they hired violent thugs to inflict violence on borrowers. As a side note, when the Milwi (Secret Guard) was first created, members of the Geomgye (Sword Fraternity) were the main recruits. Thugs hired by usurers were automatically excluded from this selection process.

Because the harms of usurers were so severe, Sejong launched a massive eradication campaign. Many local noblemen lost their honor and wealth, and were sentenced to forced labor in mines or executed. This was because those with enough capital to engage in usury were mostly local noblemen.

Sejong and the court, having actively cracked down on usurers, initiated loans through the National Treasury. However, usury and private lending didn’t disappear easily. Even with significantly lowered standards to address the commoners’ debt problems, many still couldn’t meet those standards.

“It is due to my lack of virtue!”

Sejong, saddened by the situation, tried to lower the standards further, but the ministers and the Hyang (local gentry) opposed him.

“If you further relax the standards, it will be charity, not a loan!”

“The money in the National Treasury is precious wealth earned by the people’s sweat and blood!”

“If we don’t provide even minimal interest to those who entrust their money to the National Treasury, they will hoard it in their storehouses! Then, there will be a shortage of money to run the country!”

Faced with such strong opposition, Sejong glared at the Hyang and the ministers.

“Then, what is the alternative? They are also our Joseon people!”

The Hyang provided an answer to Sejong’s command.

“Legalize private lending.”

“Legalize private lending?”

“Yes, recognize private lending as a business. However, prohibit interest rates higher than those set by the country, and require that the procedures for receiving principal and interest follow the laws set by the country.”

“Hmm…”

At Hyang’s suggestion, Sejong and the ministers showed interest. Thus, the ‘loan business’ emerged for those who couldn’t receive loans from the National Treasury. However, as time passed, usurers who engaged in illegal practices began to reappear alongside the official lenders.

To crack down on this clandestine usury, the emperors and their subjects engaged in a fierce battle of wits with the usurers.

* * *

It was because of these circumstances that Hyeon took the Jewish people’s backgrounds seriously.

“Are they showing any signs of resuming usury in Seoul?”

“Not yet, but the possibility is quite high.”

Hyeon nodded.

“I suppose so. When finding a new path is difficult or frightening, people tend to revert to familiar patterns. The problem is that the familiar path is usury.”

Han Myeong-hoe responded, “There will also be ruffians who rely on usurers, causing distress to the people.”

“That is also a problem. However, we cannot impose sanctions based on their past occupations… Let’s observe for now. We cannot break the law by acting simply because they were former usurers.”

“I obey your command.”

The ministers bowed their heads at Hyeon’s decision.

-What is required of the Emperor is virtuous rule (德治) [Deokchi, ruling by moral example], what is required of the country is the rule of law (法治) [Beopchi, ruling by law].

This was the governing philosophy of the Empire’s emperors.

* * *

Although the matter of the Jewish people from usury backgrounds was addressed, the discussion continued.

“By the way, it seems that among the immigrants to the Empire, only the Jewish people have so many engaged in commerce or usury. Oh, and scholars too. What do you think is the reason for this?”

At Hyeon’s question, Shin Suk-ju stepped forward.

“It seems to be due to how they are perceived.”

“Perception?”

“It is due to the tradition that the Jewish people killed the founder of Catholicism, which Europeans believe in.”

“Oh ho~. Is it guilt by association?”

“It is similar, I believe.”

Shin Suk-ju continued, “Afterward, for various reasons, they left their original homeland of Palestine and scattered. However, as the saying goes, ‘A rolling stone gathers no moss.’ How many people would welcome outsiders, especially those with different appearances and beliefs? Therefore, they likely engaged in commerce or usury. Land cannot be carried away, but gold and jewelry can be hidden and taken away at any time.”

“I see.”

Hyeon nodded and pointed out another problem.

“Then, why are there so many scholars?”

This time, Im Sun-wook stepped forward.

“Significant wealth is needed to study properly. Why else would the saying ‘螢雪之功’ [Hyeongseoljigong, succeeding through diligent study in difficult circumstances, like studying by firefly and snow light] have come about?”

“So, you’re saying that they educated their children with their accumulated wealth and made them scholars, but why?”

“Despising merchants was common in our country and in Europe. Moreover, they were even more despised as Jewish people, so wouldn’t it be obvious? Scholars are treated differently, so their choice would have been obvious.”

“I see. As the saying goes, ‘Every tomb has a story’… Hmm…”

Hyeon, thinking for a moment, ordered the ministers.

“I will command you.”

“Please give your command.”

“Until now, our Empire has selected and used talent regardless of origin. Therefore, Jewish people are no exception. Do not prejudge them.”

“I obey your command.”

“However, while it is unfortunate that they suffered because of their ancestors, that cannot be a blank check (丹書鐵券) [Danseocheolgwon, a royal warrant guaranteeing impunity]. Never forget the word ‘fairness’ (公正).”

“I will engrave it in my heart.”

The ‘Danseocheolgwon’ (丹書鐵券) was a type of pardon originating from ancient China, mainly given to founding contributors, guaranteeing they wouldn’t be held accountable for crimes other than treason. Hyeon’s words meant:

-Do not discriminate against them because they were mistreated in Europe.

-However, do not ignore their illegal activities out of pity.

Hyeon emphasized this because of the Empire’s people’s tendency to evaluate others in extremes.

-Their ancestors were like that, so how could that guy be any different?

-Think about what that guy’s ancestors went through. How wronged must that guy feel? Give him a break.

Therefore, Hyeon emphasized ‘fairness’. That day, Hyeon sought out Hyang to discuss this. Hyang nodded after listening.

“You did well. It is unfortunate that they were oppressed, but that shouldn’t be their blank check. If that happens, it will cause even bigger problems.”

“If you mean bigger problems… Are you referring to guilt by association?”

“That is correct.”

Hyeon quietly nodded and muttered, ‘The Supreme Emperor still has no intention of forgiving them.’

The ‘them’ Hyeon was thinking of were those implicated by guilt-by-association in the old Giyu Rebellion.

* * *

Those who directly participated in the rebellion were executed, but those tied up by guilt-by-association became government slaves and were forced to do hard labor in the mines. As time passed, Joseon became an Empire, and most of those punished at the time died. As their descendants, born while receiving punishment, dwindled, petitions were submitted to restore their status.

-The treason committed by their ancestors is a punishment worthy of death. However, those who remain now do not know that crime. It is right to show mercy.

-Showing mercy to them shows the Emperor’s filial piety towards the Former Emperor and the Supreme Emperor.

-Of course, all the people will praise this.

Hyeon, having seen the petitions, sought Hyang’s opinion.

“First, I would like to see those petitions.”

Hyang, having read them, replied, “They are not worth considering. Even now, thinking about that day makes me shudder.”

Hyeon lowered his head at Hyang’s mention of the palace raid (犯闕) [Beomgweol, an attack on the palace].

“I understand. However, I am worried that this will tarnish the reputations (美名) [Myeong, good name] of the two of you.”

“The Former Emperor once said to me, ‘I am not a wise ruler.’ This is the same for me. I am neither a wise ruler nor a brilliant ruler. I have only done my best. Show mercy? That is just hypocrisy.”

Hyeon could only bow his head. And those mentioned in the petitions remained in the mines until they died.

* * *

Hyeon, recalling the past, replied, “I understand. I will order again that they be treated fairly without discrimination.”

“That is the only best way. Now, the future Empire will be a place where imperial citizens from different origins gather, not just those from the mainland. If discrimination arises because of different origins, the Empire will begin to collapse from that point on. You must keep this in mind.”

“I will keep it in mind.”

It seemed the conversation was ending, but both Hyang and Hyeon had other thoughts. Hyang spoke first.

“Speaking of discrimination, something comes to mind. I heard that Bukji and Shinji are moving busily to find a partner for the great-grandson (玄孫, grandson’s grandson) [Hyeonson, great-grandson]?”

At Hyang’s question, Hyeon smiled and nodded.

“That is correct. It seems Bukji was very disappointed that she was pushed back during the selection of the Crown Princess. Shinji thinks they cannot be pushed back either. And Daeseoldo has also joined in.”

“Interesting.”

“That is right.”

Both Hyang and Hyeon made interesting expressions.

Thanks to Woo’s efforts as soon as he became Crown Prince, the event in question was only a few years away.