Black Corporation: Joseon [EN]: Chapter 187

187. Currency War (3)

Although the selection of the location for issuing the new paper money was completed, an even greater challenge awaited: ‘Who will have the authority to manage it?’

In principle, the emperor, Seondukje, held all the authority. However, in reality, those delegated by Seondukje were the ones issuing the paper money.

And it was precisely at this point that the three major political forces of Ming clashed head-on.

The bureaucratic faction, centered around the Chief Secretary of the Cabinet, the eunuchs, and the Jinyi Wei [Imperial Guards] all insisted that they should manage and supervise the issuance of paper money.

“The officials in charge of state affairs should be in charge!”

“Our eunuchs, who are closest to His Majesty, should be in charge! Give the authority to Dongchang [Eastern Depot, a eunuch-led secret agency]!”

“Entrust the important task to the Jinyi Wei, His Majesty’s most powerful sword!”

The debate that started like this blazed fiercely.

None of the three organizations could back down. They could not hand over the opportunity to seize the lifeline of the vast Ming Empire to another organization.

The moment another organization took that authority, they would be in a situation where they would have to be mindful of them.

‘No matter what, I must not let those guys get the authority!’

That thought was so strong that those engaged in the debate forgot who they were talking in front of.

“If the eunuchs have any conscience, they shouldn’t be trying to take on the job! Isn’t it said that no matter how loyal and sincere you are, you’ll have to shovel dung for the rest of your life if you don’t bribe your superiors?”

“Are you guys clean? Do you think there are only one or two people who call the Provincial Administration Commissioner ‘Pogumsa’ (抱金使) [literally, ‘Gold-Embracing Envoy,’ implying corruption], a manager who embraces gold?”

“Steadfast warriors like us should take on the job!”

“Shut up! You thieves!”

“Thieves? Guys who put powder on their faces and wet themselves while being men!”

The debate between the officials, eunuchs, and Jinyi Wei officers was crossing the line.

As the situation turned out like this, the Chief Secretary of the Cabinet, the ministers of each department, the head eunuch, and the commander of the Jinyi Wei tried to stop it with pale faces.

However, it was too late.

Clang!

“Stop!”

Seondukje, who was watching the debate from the head table, picked up the porcelain on the table next to him, threw it at those who were debating, and shouted.

Those who came to their senses at Seondukje’s shout sweated coldly and immediately prostrated themselves on the floor.

“Hey! Is anyone outside!”

“Yes, Your Majesty!”

At Seondukje’s command, the Jinyi Wei soldiers and eunuchs who were waiting outside rushed in.

Seondukje, with a face distorted with anger, ordered the soldiers and eunuchs who had entered.

“Take all those prostrating there, except for the Chief Secretary of the Cabinet, the ministers, the head eunuch, and the commander, and imprison them! I will personally ask them about their crimes!”

“Yes, Your Majesty!”

The Jinyi Wei soldiers and eunuchs grabbed the arms of those who were pointed out and began to drag them out.

“Your Majesty! Mercy!”

“Please have mercy!”

Those who sensed that their lives were over shouted for mercy, but Seondukje’s anger did not subside.

“You villains! Do you really not know your sins! What kind of place is this! Showing such a disgrace in front of me, in a place where there are foreign envoys! And you still want to live! Hey! Imprison them immediately! I already remember their faces clearly, so anyone who tries to use tricks will be punished the same! Take them out immediately!”

“Your Majesty!”

“Your Majesty!”

Those who caused the commotion called out to Seondukje in pitiful voices and were dragged out.

The conference room, after a commotion, was literally frozen.

All those who remained, including the Chief Secretary of the Cabinet, were pale and sweating coldly, sticking close to the ground.

However, the most embarrassed were the Vice Minister of the Ministry of Revenue and the interpreter.

When the Ming officials prostrated themselves, the two people who prostrated themselves along with them were sweating and muttering inwardly.

‘Why here? Why me?’

‘Ah! I want to go home!’

“The envoys of Joseon, rise.”

“We obey the imperial order.”

At Seondukje’s command, the Vice Minister of the Ministry of Revenue and the interpreter carefully got up.

“You may also rise.”

“We are grateful for your grace.”

As the officials who had risen at Seondukje’s command sat down again, Seongdukje warned.

“If such a disgrace occurs again before my eyes, I will hold you responsible, not just the parties involved.”

“We will keep that in mind!”

Seondukje, who heard the frozen answer of the officials, asked the Vice Minister of the Ministry of Revenue.

“Who is in charge of issuing and managing currency in Joseon?”

“Legally, it is under the Ministry of Revenue, but half of it is operated by creating an independent organization called the Mint.”

“Half independent?”

“Yes. Determining the monthly issuance is under the jurisdiction of the Ministry of Revenue, but the Mint manages all printing. However, the Royal Seal used to print the paper money is managed by the Royal Secretariat, and the inspection of the issued paper money and the disposal of defective copies are carried out with the attendance of the officials of the Office of the Inspector General and the Office of Censors. The subsequent process is….”

“It’s complicated.”

Seondukje frowned slightly and muttered at the long explanation of the Vice Minister of the Ministry of Revenue.

* * *

As Seondukje evaluated, the paper money issuance process in Joseon was very complicated. To be precise, it was not the printing process that was the problem, but the processes that took place before and after it were complicated.

Taking out the Royal Seal used for paper money from the vault was the job of the Mint officials belonging to the Ministry of Revenue.

However, after printing, recovering the Royal Seal, checking its condition and number, and putting it back into the vault was the job of the Royal Secretariat.

It was inevitable that defective copies would occur during the printing process.

After the final printing process, in the inspection process before cutting, paper money that was identified as defective was stamped with a red ‘Void (不通)’ mark, and the corresponding issue number was recorded.

After the currency was cut, the currencies designated as Void were separated and incinerated as they were.

The officials of the Office of the Inspector General and the Office of Censors intervened in this processing.

The first process was completed only after confirming the already recorded issue number under the attendance of the officials of the Office of Censors and the Office of the Inspector General and confirming that it was properly incinerated.

And the officials of the Office of Censors and the Office of the Inspector General who participated in this attendance process were randomly selected and assigned every morning.

It was a device to avoid any possible irregularities.

The paper money that had been prepared for issuance through that process was re-examined to see how many sheets there were, and a report was sent to Sejong.

And the branch managers throughout Joseon and the Joseon Trading Post in Shandong, who received the paper money issued in this way, immediately inspected it and sent a report to Hanseong [the capital of Joseon, modern-day Seoul].

The second process was to compare the numbers in these reports with the report that was submitted at the time of issuance to confirm whether it was properly delivered.

In simple terms, if 100 sheets were issued, the total number written in the reports sent by those who received the delivery also had to be 100.

* * *

The Vice Minister of the Ministry of Revenue nodded at Seondukje’s evaluation.

“Your Majesty is right. It is a complicated, cumbersome, and labor-intensive task. However, there was an order that it should be endured if the credibility of the paper money can be maintained in this way.”

“Is that so?”

Seondukje, who answered briefly to the words of the Vice Minister of the Ministry of Revenue, was lost in thought.

Seondukje was silent for a long time after that.

Seondukje, who was worried with a serious face, nodded and slowly opened his mouth.

“That’s right. That’s right. Maintaining trust is only right with the right path and the standard. The King of Joseon is truly wise. Then how do you circulate the currency?”

At Seondukje’s question, the Vice Minister of the Ministry of Revenue explained about the national branch [government-run exchange offices].

Seondukje was not a fool, so he immediately understood and was greatly impressed.

“It’s truly meticulous and ingenious! Indeed! I can see why Joseon succeeded this time!”

Seondukje, who could not stop admiring, ordered the Chief Secretary of the Cabinet and the head eunuch.

“Refer to Joseon’s policies and create policies that are right for us!”

“We obey your command!”

Seondukje, who heard the answers of the Chief Secretary of the Cabinet and others, gave them a very strong warning.

“However, any person who makes excuses and says that it should be dispersed must remember that they will have to give up their lives at that moment!”

“Huk! We will engrave it in our hearts!”

Seondukje, who was watching the Chief Secretary of the Cabinet and the head eunuch being horrified, continued.

“The deadline is…. The envoy of Joseon, listen. I have something to ask.”

“Ask me anything.”

“How long did it take Joseon to prepare to circulate this currency?”

“It took 5 years to secure the budget and 1 year to prepare for issuance and circulation.”

“That’s right. The most important thing is the budget. I order you to refer to the path taken by Joseon and complete our own plan within three months. The plan must accurately specify the time to secure the budget. The envoy of Joseon will have a hard time, but please cooperate until the plan is made.”

The Vice Minister of the Ministry of Revenue, who heard Seondukje’s order, made a tearful face, but had no choice but to accept the order.

Since the Ming envoy had already gone to Joseon, he had a sense of how Joseon would answer.

‘Anyway, Ming is our Joseon’s largest trading partner, so let’s take this opportunity to learn more about it.’

“We obey your command.”

Seondukje, who saw the tearful face of the Vice Minister of the Ministry of Revenue, ordered the head eunuch.

“The head eunuch should give the envoy of Joseon medicinal herbs to nourish his body. It is natural that his mind and body will be weakened because he has come to a foreign country and has not been able to return to his hometown for a long time. Find the best medicinal herbs in my warehouse and give them to him.”

“We obey the imperial order.”

The Vice Minister of the Ministry of Revenue, who heard the answers of Seondukje and the head eunuch, knelt down and shouted cheers.

“We are grateful for your grace! Long live! Long live! Ten thousand years!”

‘Is it tonic here too!’

He was shouting cheers with his mouth, but the Vice Minister of the Ministry of Revenue was shedding tears of blood inside.

* * *

According to Seondukje’s orders, the ministers and eunuchs began to make plans for currency operation.

Of course, at the same time, they were also creating currency designs.

“Didn’t Joseon make high-denomination notes?”

At the question of the Ming Dynasty minister, the Vice Minister of the Ministry of Revenue smiled slightly and answered.

“Joseon is a small country….”

In Joseon, they initially planned to issue high-denomination notes, but had to abandon the plan due to Hyang’s strong opposition.

“High-denomination notes are not necessary for Joseon’s current size! If you make them, they will only be the main culprit for raising prices!”

Hyang explained the reason for the opposition in detail.

Sejong and the ministers, who thought Hyang’s explanation was reasonable, returned the issuance of high-denomination notes to the drawing board.

“That’s right. Joseon is a small country….”

‘Oh? Right in front of my face? You’re going to be stuck in the records office until you die!’

The Vice Minister of the Ministry of Revenue was furious at the words that ridiculed Joseon as a small country, but he had to grit his teeth and hold back his anger.

Time continued to flow, and finally, the design of the new paper money of the Ming Dynasty was completed and sent to Seondukje.

“Hmm…. It’s not bad.”

Seondukje, who saw the design of the new paper money, soon ordered the eunuch.

“Summon all the high and low ranking officials.”

“We obey your command!”

According to Seondukje’s order, all the officials working in the Forbidden City gathered in one place.

“The Emperor is here!”

At the eunuch’s cry, the officials bowed at once and paid their respects.

“The design of the new paper money has been completed. Look at it and give your opinions.”

As the existence that had been rumored spread among the officials, their eyes twinkled.

As the design went around among the officials, Seondukje opened his mouth.

“I think it’s okay. What do you think?”

At Seondukje’s question, the officials answered in a loud voice.

“It’s good!”

“It is a paper money that embodies the dignity of the Empire!”

“Is that so?”

As favorable answers popped out from here and there, a smile began to appear on Seondukje’s face.

At that moment, a hoarse voice popped out.

“I object! It’s ominous!”

“Who is it? Who objected?”

At Seondukje’s question, an old man popped out from among the officials.

“Who are you?”

“I am Won Tae-so, an assistant professor at the National Academy [Guozijian, the highest institution of learning in imperial China].”

Seondukje’s face became serious at the old man’s identity.

The National Academy was an educational institution run by the Ming Dynasty court. If he was an assistant professor, a faculty member of the National Academy, his scholarship could not be ignored.

“Yes…. Why does Assistant Professor Won object?”

At Seondukje’s question, Won Tae-so explained the reason.

“Looking at the design of the new paper money, there is a cintamani [a wish-fulfilling jewel] in the middle of the top of the paper money, and two dragons face each other with the cintamani in between, and the bodies of the dragons surround the four sides of the paper money.”

“That’s right.”

As Seondukje nodded, Won Tae-so, who took a breath for a moment, continued the explanation.

“Traditionally, a dragon must have a cintamani to become a complete dragon. However, in the new paper money, two dragons are facing each other with one cintamani, which means that the Ming Empire will have a dispute over the imperial power! You must never use such an ominous design!”

“Huh?”

At Won Tae-so’s words, Seondukje looked at the design of the currency again.