Chapter 51

…

During the negotiations the next day, Li Qingchen, the Vice Minister of the Zhongshu Province representing the Zhao-Song dynasty, used a ruse and uncovered that the former supreme ruler of Western Xia, the Young Empress Dowager Liang, had indeed died.

Thus, Western Xia is likely purging its former powerful maternal relatives, and its political situation must be extremely unstable, which is why it is eager for peace.

Originally, the Zhao-Song dynasty had won a great victory at the Battle of Pingxiacheng; leveraging this momentum, it advanced the "Shaozheng Expansion," constructing multiple fortified strongholds, and now fully controls the Hengshan–Mount Tiandou line, depriving Western Xia of its southern invasion launchpad, giving Song troops a battlefield advantage.

On the other hand, Western Xia's economy has nearly collapsed due to years of war, and now the Zhao-Song dynasty has acquired Western Xia's internal turmoil as a crucial bargaining chip.

Li Qingchen and others immediately used thunderous measures to shatter Western Xia's diplomatic psychological defenses, completely destroying Western Xia's negotiation space across military, political, and economic dimensions.

For a time, the Zhao-Song dynasty pressed forward relentlessly, as if on the verge of achieving total victory in these peace talks.

Having the ambition but lacking the courage, yielding to favorable winds and abandoning the fight when winds turn—that is the common flaw of many Zhao-Song monarchs and ministers.

Seeing Western Xia's situation so dire, voices within the Zhao-Song court immediately arose: "Seize this heavenly opportunity while Western Xia's strength declines and its internal chaos mounts, launch a full-scale campaign against Xia, and reclaim all territories seized by Western Xia."

Emperor Zhao Xu and Zhang Dun were deeply swayed by this idea.

Yet the Old Party firmly opposed the Zhao-Song dynasty launching another war against Western Xia.

Not only did the Old Party oppose it, but even a group of New Party figures led by Ceng Bu also opposed the Zhao-Song dynasty launching another war against Western Xia.

Their reason was simple and highly persuasive—there was no money.

Seeing that the chance to reclaim ancestral lands and erase past humiliations had arrived, yet the court had no money, Zhao Xu was filled with grief and fury!

Zhang Dun racked his brains trying to raise funds to deliver the final blow to Western Xia and secure total victory in this war.

But the Zhao-Song dynasty had already reached its limits and simply could not produce this sum.

Zhao Xu summoned his ministers to the Wende Hall to discuss how to seize this moment of Western Xia's extreme weakness and extract maximum benefit for the Zhao-Song dynasty.

In truth, Zhao Xu wanted his ministers to propose strategies for raising money.

When it came to raising money, Zhao Xu immediately thought of Zhao Yu—the most skilled at raising money.

So Zhao Xu specifically ordered all princes to attend the meeting, hoping Zhao Yu could offer him a swift plan to raise funds.

Thus, Zhao Yu and the other five princes also came to court.

As soon as the court session began, Zhao Yu and the other five princes all kept their eyes on their noses, noses on their mouths, mouths on their hearts, hearts at ease, listening silently as ministers debated.

At first, both New Party and Old Party ministers could voice their opinions and offer useful suggestions.

But soon, under Han Zhongyan's leadership, the Old Party members strongly advocated stability and warned against rashly starting a war;

while a faction within the New Party, led by Ceng Bu, calmly analyzed the empty treasury and worried about the rapid depletion of national strength from war;

another faction, led by Zhang Dun and Cai Bian, advocated pursuing Western Xia to eliminate this grave internal threat once and for all and reclaim the Zhao-Song dynasty's lost ancestral lands.

Gradually, the discussion turned into quarreling.

Before long, ministers clung to their own views, shouting uncontrollably, refusing to yield.

Zhao Xu sat upright on the dragon throne, his gaze blazing as he scanned the quarreling ministers below.

In his heart, there was both anxiety and hope—anxiety that the treasury was empty and could not sustain a war against Western Xia; hope that amid this chaos, he might find a strategy to resolve the fiscal crisis and simultaneously eliminate Western Xia.

Yet his ministers could only quarrel endlessly, utterly incapable of solving problems.

Zhao Xu scanned each minister below, unable to help thinking: "Is there truly no one in my great Song who can share my burdens?"

Soon, Zhao Xu's gaze fell upon the group of princes.

Zhao Xu's eyes instantly fixed on Zhao Yu.

But Zhao Xu was a man who cared about face; he could not directly say to Zhao Yu: "Prince Shen, can you find a way to raise me some money? I wish to seize this heavenly opportunity to destroy Western Xia."

After all, these past two days, due to Zhao Xu's decision to make Liu Qingjing empress, his relationship with Zhao Yu had been extremely strained.

Moreover, last night, Zhao Xu had misunderstood and refused to see Zhao Yu when he came to request an audience, nearly delaying a matter of great importance to the Zhao-Song dynasty.

All this made Zhao Xu feel embarrassed to ask Zhao Yu for help.

Yet on the other hand, all the court ministers were useless and offered no solution Zhao Xu desired.

With no other choice, Zhao Xu had to abandon his pride and address the princes: "The Song is our Zhao family's realm and ancestral heritage; you princes share its fate, bound by fortune and misfortune. Now the court faces crisis and urgently needs sound strategies—do any of you have proposals to offer?"

Upon Zhao Xu's words, the ministers, who had been shouting red-faced, fell silent and turned to look at the princes.

Zhang Dun and other high ministers fixed their gazes directly on Zhao Yu.

Only Cai Bian, who had been absent from Jingcheng recently, was puzzled: why was Zhao Xu seeking advice from these princes under twenty? And why had Zhang Dun and others not invoked the rule forbidding imperial clansmen from interfering in state affairs to restrain them?

Facing Zhao Xu's expectant gaze, Zhao Yu did not immediately step forward but remained silent with his head bowed—he was neither the eldest nor the youngest prince; Zhao Xu had asked all princes, so how could he be the first to speak?

Seeing Zhao Yu still holding back, Zhao Xu's eyes flickered with displeasure.

But to solve the problem, Zhao Xu suppressed his annoyance and first turned to Zhao Bi: "Prince Shen, do you have any sound strategy?"

Zhao Bi bowed hastily: "I believe the views of Chancellor Han and Chancellor Ceng are more prudent."

Zhao Bi's words were exactly as expected by Zhao Xu and the ministers—unoriginal and useless.

Zhao Xu had never expected anything from the conservative Zhao Bi, so he easily passed him over and turned to Zhao Ji: "Prince Duan, do you have any strategy to offer?"

Zhao Ji straightened his robes and bowed: "I believe we should station troops along the border to use military pressure to force peace, compelling Western Xia to make major concessions in the treaty."

Zhao Xu thought: "Cunning. He supports both war and peace, trying not to offend either side, wanting benefits from both—how can such perfect outcomes exist in this world?"

Zhang Dun and other ministers were also dissatisfied with Zhao Ji's answer.

Especially Zhang Dun, who thought: "Prince Duan is frivolous, lacks responsibility, speaks without substance, indulges in petty cleverness—this is hopeless!"

Zhang Dun then turned to the remaining princes: Zhao Yu, Zhao Si, and Zhao Si.

He saw Zhao Si and Zhao Si visibly tense, clearly organizing their words, while Zhao Yu remained as calm as ever.

Zhang Dun thought: "Could Prince Shen surprise me?"

At this moment, Zhao Xu had also gone through the motions; he looked at Zhao Yu with eager expectation and asked: "Prince Shen, what about you? Do you have any strategy to propose?"

Cai Bian noticed that when it came to Zhao Yu's turn to speak, Zhang Dun and the other high ministers all grew solemn, unlike when Zhao Bi and Zhao Ji had spoken. Above them, Zhao Xu's face was filled with anticipation, no longer indifferent as before.

Cai Bian looked at Zhao Yu in confusion: "Can Prince Shen solve a problem even the high ministers cannot?"

Every minister here, one and all, was a master of cunning; they were sharper than village gossips in sensing every ripple in court politics.

Seeing Zhao Xu and the senior officials all staring solemnly at Zhao Yu—the man who had always kept a low profile—they could hardly fail to guess that Zhao Yu had something up his sleeve.

Thus, for a moment, every gaze in the Wende Hall fixed on Zhao Yu, including those of several princelings.

Zhao Bi, Zhao Si, and Zhao Si, who had been preoccupied with their own affairs and barely noticed Zhao Yu lately, were stunned. They didn't understand why Zhao Xu and the others had suddenly placed such importance on Zhao Yu.

Zhao Ji, who had already realized Zhao Yu's status had changed, stared with dark, unsettled eyes. He glanced at Zhao Yu, now the center of all attention, and suspicion surged in him:

"Since when has Prince Shen become so noteworthy?"

"What virtue or ability does he possess to earn such high expectations from His Majesty and the chancellors?"

"Could it be he truly has a strategy for saving the state that even the chancellors couldn't devise?"

"Back when we played cuju, did he deceive me? Is he not a simple-minded man, but a deeply calculating one?"

"…"

Only when he saw Zhao Xu, seated on the dragon throne, intently watching Zhao Yu, and remembered that Zhao Xu now had a biological son, did Zhao Ji let out a self-deprecating laugh: "No matter how much Zhao Yu dances, isn't he still just a prince bound by circumstance? What difference is there between him and me?"

Hearing Zhao Xu's question, Zhao Yu stepped forward and bowed: "I have no brilliant strategy… but I do have a temporary, superficial solution."

Zhao Xu's eyes lit up. "Quickly, present it!"

Zhang Dun and the other chancellors also perked up, eager to see whether Zhao Yu truly had ability—or whether someone behind him was guiding him.

Zhao Ji, unwilling to yield, thought to himself: "I want to see what brilliant insight you can offer!"

All the ministers around turned their eyes toward Zhao Yu.

Zhao Yu spoke as if no one else were present: "We can inventory the treasuries of all offices within the Imperial City, bundle up the accumulated obsolete materials, and sell them at assessed value…"

This was not Zhao Yu's original idea, but a fiscal innovation implemented by Cai Jing after Zhao Ji ascended the throne to resolve the court's debt crisis.

At the beginning of Zhao Ji's reign, the Northern Song Dynasty faced enormous financial pressure due to prolonged foreign wars—such as campaigns against the Western Xia—and extravagant spending.

According to records, a group of wealthy merchants holding "official notes" (government-issued debt certificates) demanded repayment, totaling three million seven hundred thousand guan.

Yet the imperial treasury was empty; Zhao Ji could not pay, and the debt crisis became urgent.

Cai Jing reported the situation truthfully to Zhao Ji.

Zhao Ji looked troubled: "Shameful to the state! What can we do?"

Cai Jing replied confidently: "I beg to attempt a solution."

At that time, Cai Jing's response strategy was to turn waste into treasure.

Faced with this dilemma, Cai Jing proposed a clever solution: inventory the accumulated goods in the treasuries of all offices within the Imperial City and appraise them to offset debts.

The specific steps were as follows:

Cai Jing ordered an audit of the treasuries and discovered vast quantities of long-stored, nearly discarded items, including:

Muyi: tents, curtains, and other textile goods.

Lacquerware, ivory carvings: items made of ivory.

Brocade, fine fragrant medicines: high-grade spices and medicinal herbs.

These materials had been stockpiled years earlier by the imperial household or government offices but had been idle due to outdated styles or reduced demand.

Cai Jing appraised these goods at market value, bundled them, and converted them into equivalent monetary amounts to repay the merchants holding official notes.

Although the merchants initially resented receiving these useless goods, Cai Jing guided policy to permit them to resell the items on the market for profit.

After reluctantly accepting, the merchants tried putting the goods on the market and unexpectedly found that certain items—such as brocade and fragrant medicines—sold at high prices due to scarcity, yielding substantial profits.

Within less than half a year, the Northern Song court fully settled its debts through this method without touching any cash reserves.

Moreover, the court acquired a considerable amount of working capital.

Through "goods-for-debt," Cai Jing shifted the financial burden onto the market, using merchant channels to convert goods into cash.

This approach eased the immediate crisis of the Song Chaoting while avoiding public resentment from tax hikes or currency debasement.

At the time, Zhao Ji greatly praised this move, even jokingly calling the proceeds "Cai Jing's salary."

Cai Jing used this to consolidate his power, winning Zhao Ji's favor through grand construction projects and gifts of calligraphy, paintings, and rare curios.

Cai Jing's strategy of using treasury goods to offset debt was a classic example of resolving crisis through non-traditional fiscal means.

Zhao Yu knew nothing of economics, but while writing his novels, he had specifically researched Cai Jing's tactic, so he explained it fluently.

Zhao Xu's eyes brightened.

Zhang Dun and the other chancellors secretly slapped their thighs: "There's also this trick!"

Many ministers who understood the value of this plan were filled with regret, each thinking: "If I had thought of this strategy, promotion and wealth would be within reach!"

Seeing the expressions of the chancellors and ministers, Zhao Ji knew Zhao Yu's plan must work.

Zhao Ji thought resentfully: "I'm just a prince—how could I possibly know what's stored in the Imperial City's treasuries?"

In the corner, Cai Jing watched Zhao Yu and thought: "I didn't expect Prince Shen would also think of this strategy."

Although Zhao Xu felt the plan should work, he still confirmed with Zhao Yu: "Can this strategy truly raise the funds needed to suppress the Western Xia?"

Zhao Yu, fearing embarrassment, hedged his bet: "I nominate one man. If Your Majesty grants him full authority, he will raise three to five million guan within half a year. If he falls short, I will personally make up the difference."

Zhao Xu had not expected Zhao Yu to dare make such a guarantee.

This sum was too vital to Zhao Xu; even though Zhao Yu had already crossed the red line forbidding imperial clan members from interfering in governance, he could not help asking urgently: "Whom does Prince Shen nominate?"

Zhao Yu said solemnly: "Hanlin Academician-in-Chief Cai Jing…"

…

(End of Chapter)