Chapter 201: A Helping Hand

Wang Jing grew anxious upon hearing Zhang Quan's words: "I say, Manager Zhang, I understand your shop's rules well enough, but surely there can be exceptions to everything? I, Wang, have been in the cane sugar trade for over a decade and have never once cheated anyone! If you don't believe me, you can ask around at the sugar workshops in town—every year I spend half a year in Jun'an and Zhangpu, and nearly everyone in the sugar sheds of both towns knows me. Go ask them—have they ever said a single bad word about me? Manager Zhang, I am a traveling merchant from elsewhere, and truly have nothing to offer as collateral, but I am also a man of considerable wealth. Would I cut off my own source of income over a mere two thousand taels of silver borrowed from your shop?"

Zhang Quan smiled: "Master Wang, do not be hasty. I shall certainly consider what you have just said. Here is my proposal: if Master Wang goes into town and finds proprietors of sugar sheds he knows well, and obtains joint guarantees from five of them, our shop will release the silver to you—interest of one tenth per month, with partial months charged as full months! Surely that condition is not excessive?"

Just as they were speaking, Li Chong and Li Xing, the two brothers, stepped into the exchange house's guest hall.

The Sihai Exchange House's counting room in town differed from the pawnshop—it did not have a raised counter separating staff from customers, but instead had two guest halls, one large and one small, for receiving clients coming to negotiate business. Clients borrowing less than two thousand taels discussed matters in the large hall, while major clients borrowing more than two thousand taels were received in the small hall.

The reason for this arrangement was simple: for safety and maintenance cost considerations, all silver lent by the exchange house was stored in the treasury of the Centurion's office of the Embroidered Uniform Guard in Xinghua County. Since the county seat was only twenty-odd li from Jun'an and Zhangpu, once terms were agreed upon here, the silver would be quickly escorted over by the Embroidered Uniform Guard and delivered into the borrower's hands.

Li Chong was startled to see Wang Jing there, then hastily clasped his hands in greeting: "Master Wang is present—this humble one offers his respects!"

Wang Jing was also a major client of the Li family sugar shed; most of the white sugar the Li family produced was bought up by Wang Jing. The two sides had dealt with each other for several years and knew one another very well.

Seeing the Li brothers, Wang Jing's face lit up with joy. Without even returning the greeting, he hurriedly rose and walked over to Li Chong, grabbed his arm, and led him before Zhang Quan, saying in rapid succession: "Look here, look here, Manager Zhang—the Li family has run their sugar shed for many years now. Ask the Li brothers—what is my, Wang's, credit like?"

Zhang Quan sized up the Li brothers, then rose and clasped his hands with a smile: "How should I address you two? Have you come to our shop about a loan? Please, do sit down. Li San, bring tea at once!"

Li Chong pulled free of Wang Jing's grasp and returned the salute with clasped hands: "This humble one is named Li Chong, and this is my younger brother Li Xing! Having heard that your shop issues loans, we came to make inquiries!"

He traveled between the county seat and the town all year round, purchasing all manner of supplies, and so spoke with considerable polish.

The exchange house's clerk Li San brought over a teapot and teacups. Zhang Quan gestured for the several men to sit, and Li San poured tea for everyone before standing to one side.

Zhang Quan returned to his own chair, sat down, and said with a smile: "So Master Wang is well acquainted with you two, eh, hehe! Our shop has only recently established itself in this town. I am Zhang Quan, manager of the Sihai Exchange House. Having just arrived in this place, I am not yet familiar with the town's notable figures—I hope you will forgive any shortcomings! Young Master Li, whatever you wish to inquire about, pray speak freely!"

Though Wang Jing was anxious to borrow silver, seeing the Li brothers arrive stirred a thought in his mind, so he suppressed his impatience and waited quietly for Li Chong to speak.

Li Chong clasped his hands: "Since Manager Zhang has invited us to speak, I shall come straight to the point. My brother and I have come today to borrow from your shop, for the purpose of expanding our family's sugar shed! Might I ask what rules your shop has for lending? I pray Manager Zhang will state them plainly!"

Zhang Quan smiled: "Our shop's rules are simple enough. I should first like to hear about the current state of Young Master Li's sugar shed, and the matters involved in the planned expansion, before informing you. Young Master Li, pray speak in detail—I shall make my judgment from your words, and after making inquiries, I shall render my decision!"

Before Li Chong could speak, Wang Jing interjected: "Brother Chong, if your family's sugar shed is expanded, can the frost sugar and rock sugar produced all be sold exclusively to me? On price, I certainly won't let you suffer a loss!"

Li Chong was taken aback for a moment, then smiled and clasped his hands: "Master Wang is in quite a hurry—the expansion hasn't even materialized yet. Can we talk about it later?"

Wang Jing laughed at this: "I am indeed hasty, haha! You two go ahead and talk, go ahead and talk!"

Li Chong clasped his hands to Zhang Quan and then spoke: "Manager Zhang, my family has operated a sugar shed for five years now. We currently have ten mu of sugarcane fields, one pressing mill, one ox, and several large cauldrons for boiling sugarcane juice. Each month we produce over ten dan of brown sugar, one to two dan of white sugar, and rock sugar. My father and younger brother have outstanding sugar-making skill—our yields of white sugar and rock sugar are somewhat higher than other families'. Manager Zhang can send someone to inquire and verify this. My brother and I wish to build a large-scale sugar workshop. We estimate needing to buy around thirty oxen and hire twenty workers, and we need to borrow one thousand taels of silver from your shop. What do you think of this—I pray Manager Zhang will tell us honestly!"

After listening to Li Chong's account, Zhang Quan fell into silent deliberation.

He knew the head office's directive that lending was not to be pursued for profit's sake. Though he did not understand the intent behind it, that did not stop him from making his own judgments in accordance with the directive.

Though the Li family had not been making sugar for very long, they owned ten mu of sugarcane fields, which could serve as collateral; once their finances were comfortable, they would naturally purchase sugarcane grown by the town's farming households, so the raw material supply was not a concern; moreover, from Wang Jing's eagerness to secure exclusive rights to the Li family's sugar just now, it was clear their sugar-making skill was quite good. And since the amount borrowed was not large, this loan should present no problem.

Having thought this through, Zhang Quan made up his mind. He said to Li Chong: "From what Young Master Li has just told me, I see no problem. Here is my proposal: Young Master Li, go back and fetch your land deed and the deed for the sugar shed to serve as collateral, to be held temporarily by our shop and returned upon repayment of the loan. Once you bring them and sign the loan agreement with our shop, our shop will present the silver in cash the very next day, at a monthly interest of one tenth. What does Young Master Li think?"

Li Chong and Li Xing exchanged a glance and nodded simultaneously. Li Chong said: "This is presently the critical season for sugar-making—my whole family is tied up at the sugar shed and cannot get away. The expansion cannot proceed until around the Qingming Festival. As for what Manager Zhang has proposed, my family accepts it all—we need only draw up the agreement when the time comes! Does Manager Zhang find that suitable?"

Zhang Quan smiled and nodded: "Suitable, suitable. I am also aware of this matter. If Young Master Li's family sugar shed is short of cash for purchases at present, our shop will lend you up to one hundred taels, also at a monthly interest of one tenth!"

In Zhang Quan's eyes, even a mosquito's leg was still meat. Since the big one-thousand-tael loan would not come for several months yet, the interest from a small loan counted as income as well. Having been dispatched to this place and not yet brought any profit to the firm, he felt somewhat uneasy in his heart. Whatever the amount, getting the first deal done and opening for business would do.

Though the Li family had sold some cane sugar in recent days, all manner of expenses and purchases required silver—especially during the peak sugar-making season, when large quantities of sugarcane needed to be bought and stored. And since sugar could only be sold to traveling merchants once a sufficient quantity had been stockpiled, they were indeed in urgent need of money right now.

Hearing Zhang Quan's words, Li Chong said joyfully: "Does Manager Zhang speak truly? Does a loan of one hundred taels require collateral? When can we receive the silver?"

"No collateral needed—the silver can be taken once the agreement is signed! If Young Master Li is in urgent need, we can handle it right now!" Zhang Quan replied with a smile.

For an exchange house, one hundred taels was not a large sum, and since the Li family were local farming folk, he did not worry that any problem would arise.

Li Chong hastily nodded in agreement, and Li San, standing to one side, hurried off to fetch brush, ink, and paper.

Seeing how the Li family had concluded a loan in such a short time, Wang Jing grew anxious again.

He said to Zhang Quan: "Manager Zhang, may I have the Li family serve as one of my guarantors?"

"Of course you may—Master Wang need only find four more families of equal standing, and our shop will present the silver in cash immediately!"