Chapter 385: The First Threat

Chang’an in September already carried a hint of autumn’s severity—leaves fluttered in the wind, and a slight chill filled the air.
Business in Chang’an’s Western Market remained booming. As the end of the year approached, trading in bulk commodities became increasingly active. Grains, fabrics, tea, and silk were transported in large quantities daily. Carriages laden with goods shuttled constantly along the streets of the Western Market, while caravans of camels from the Western Regions entered through the city gates, driven by their desire for wealth.
Many foreigners brought flying money issued by the Anxi Military Governor’s office to the Juhai Bank, which had just been renamed “Anxi Bank,” and exchanged it for large amounts of Anxi silver ingots before heading straight to the Western Market. Anxi silver ingots had gradually become as important as the Kaiyuan Tongbao as currency of the Tang Dynasty.
That morning, a group of people approached from afar on the street outside a silk shop in the Western Market. Most of them were burly men dressed like guards, protecting two men. The older man was about forty-seven or forty-eight years old, with fair skin, long narrow eyes, and was dressed in a light red silk robe, a jade belt around his waist, and a black gauze hat on his head. The younger man was dressed similarly—in a purple brocade robe, with a jade belt and a black gauze hat—but his belt carried a purple-gold fish-shaped pouch. It was this pouch that made many discerning people look at the younger man with new respect. Who was he?
Though the younger man was under thirty, his every move exuded an indescribable dignity and authority.
“Father, let’s choose this shop!”
They stopped in front of a large store. The flag above the shop was embroidered with the characters “Pei’s” in black thread. It was a silk and fabric shop, one of the largest in the Western Market. Rumors suggested a connection between this shop and the Pei family, but the Pei family denied it outright—how could their descendants engage in trade?
The middle-aged man nodded and strode into the shop with his hands behind his back. The door was small, but the steps were quite high. Since the shop never dealt in small-scale retail sales, there weren’t many customers. Yet even casual visitors made deals involving hundreds or thousands of pieces of fabric.
The father and son entered the shop, flanked by guards. A clerk who tried to greet them was pushed aside by a guard with surprising force, almost causing him to fall. The clerk stood there stunned—who could these people be? So domineering!

Of course the guy didn’t know; if he had, he would have been terrified. The older middle-aged man was King Yong, Li Heng, who had been made Emperor Emeritus, while the younger man was naturally Emperor Li Yu of the Tang Dynasty. Li Yu was on a secret inspection, as Li Heng wanted to prove a hard fact to his son.

At that moment, the shopkeeper of the silk store came out upon hearing the news. Clearly experienced, he immediately spotted the purple-gold fish-shaped pouch tied around Li Yu’s waist. He quickly bowed and said, “Pei Zhonggui, the owner of this shop, welcomes your esteemed presence.”

“I need a clean and quiet room. My master wants to discuss business with you.”

“Of course! Please follow me to the guest room.”

The shopkeeper hurriedly led the father and son into the guest room, which was elegantly furnished. A painting of red plum blossoms defying the snow hung on the wall, executed with powerful brushstrokes, clearly by a master artist. In the center of the room stood a white jade screen made of solid East Sea white jade—smooth, delicate, and flawless. Just that piece of jade was worth tens of thousands of coins.

“Please, esteemed guests, have a seat!”

Not knowing the true identities of the father and son, the shopkeeper didn’t dare neglect them. He invited them to sit and ordered a maid to serve them top-quality Mengding tea. Then he smiled and asked, “I wonder what brings you here…”

Li Yu held his teacup and examined the white jade screen behind him. As an emperor, it was certainly not his role to discuss business. Li Heng spoke up, “It’s like this—we plan to buy ten thousand bolts of high-quality silk and would like to inquire about the price.”

“The prices are pretty much the same—usually 500 coins per bolt.”

“400 coins?” Li Yu was surprised. He quickly said, “I remember it was only 700 coins the year before last. How could it double in just two years?”

The shopkeeper stared at Li Yu for a while before realizing that this man wasn’t in the business. How could someone in business not know market prices? His guests must be of high status. Growing more anxious, he didn’t dare mock their ignorance and said, “It’s mainly because since last year, the court introduced silver coins, causing prices to soar. A dou of rice now costs 150 coins, while the silver coins themselves only cost 70 coins—similar to the price of silk.”

Li Yu fell silent. He actually knew something about this—since his grandfather had introduced silver coins last year without proper control, allowing over twenty people to mint coins, resulting in a flood of inferior silver coins and rising prices for various goods. But he hadn’t expected it to get this bad.

Li Heng, however, wasn’t surprised. He knew well what was going on and asked calmly, “If we buy ten thousand bolts, what kind of coins do you accept?”

At the mention of coins, the shopkeeper immediately became nervous. He hurriedly said, “We don’t accept silver coins.”

“Why, hasn’t the imperial court clearly stipulated that both silver and copper coins should be used? One silver coin is worth a hundred copper coins, and we intend to pay you in silver.” Although the shopkeeper realized these two men were of special status, he wouldn’t budge on his own interests at all. “Sirs, we don’t accept silver coins—this is the established practice. You can go to a bank and exchange them for copper coins or Anxi silver ingots. Other than those two, we won’t accept any other currency, or you can simply pay in gold or silver.” “If you don’t accept silver coins, then why do you accept Anxi silver ingots? Why is that?” This was the real purpose of their visit. Li Heng wanted to show his son just how much control Li Qing’an had over the Tang Dynasty’s currency. Li Yu also sat up straight, showing his concern about the matter. The shopkeeper was somewhat embarrassed. After hesitating for a moment, he said, “This should be a well-known fact throughout the Tang Dynasty. Whether in Chang’an, Yangzhou, or Chengdu, all shops only accept Anxi silver ingots. People in the Western Regions call them Anxi silver coins—actually, they’re the same thing. They’re even more valuable than Kaiyuan Tongbao coins. Let me put it this way: if you use copper coins to buy silk, it still costs 500 copper coins per string, but if you use Anxi silver coins, it only costs 300 copper coins per string. That’s the market price.” A hint of anger flashed in Li Yu’s eyes. Suppressing his annoyance, he asked, “Isn’t it possible to forge them?” The shopkeeper took out an Anxi silver coin from his pocket, placed it on the table, and pushed it toward Li Yu, smiling. “The biggest advantage of Anxi silver coins is that they can’t be forged. They’re made of pure silver, with each coin weighing one tael. I even weighed a hundred of them—there was no deviation. I can demonstrate this for the customers.” He picked up the coin, held it between two fingers, blew hard on its edge, and brought it close to Li Yu’s ear. A buzzing metallic sound could be heard. “Do you hear that? That’s the hallmark of Anxi silver coins. No one can forge them. Even if someone could, it wouldn’t make any sense.” Li Yu took the coin and examined it carefully. It was finely crafted, with smooth edges. On the front was inscribed the words “Anxi Silver Ingot.” He recognized that these words seemed to be written by Li Qing’an. On the back was a depiction of a camel caravan in the desert. “Are you sure it’s more useful than copper coins?” “Yes!” the shopkeeper replied without hesitation. “The official silver price is one tael per string, but Anxi silver coins cost only 300 copper coins per string. That’s because even official silver can be fake, but Anxi silver coins can’t be forged. Moreover, they’re convenient to carry. In a few years, once Anxi silver coins become widely used in the Central Plains, I reckon copper coins will only be suitable for small transactions. No one will accept copper coins for larger deals.”

Hearing these words, Li Yu’s face instantly changed color. He grunted heavily and stood up.
……
Back in the palace, Li Yu was still furious. With his hands behind his back, he paced back and forth in the imperial study. What he had seen and heard that day shocked him greatly. It turned out his father was right—within two more years, Li Qing’an would completely control the currency of the Tang Dynasty, making it impossible to restrict it. By then, Li Qing’an would become the de facto ruler of the Tang Dynasty.
At that moment, Li Heng beside him said, “Your Majesty, Li Qing’an not only controls the Tang Dynasty’s currency but also, by issuing silver coins, continuously transports various resources from the Tang Dynasty to Anxi. As far as I know, since last year, they have been purchasing large quantities of silk, tea, porcelain, and pig iron from the Central Plains. They also recruit craftsmen from various prefectures and counties. Li Qing’an’s ambitions are well-known to all. More importantly, he can legitimately ascend the throne as emperor. Do you understand, Your Majesty?”
Upon hearing the words “ascend the throne as emperor,” Li Yu felt as if a sharp knife had pierced his heart. After the Prince of Zhao and Crown Prince Jiancheng, with their 300,000-strong armies, how could he not understand? He had thought he could use Li Qing’an for a few more years to deal with An Lushan and those ambitious uncles. But now he gradually realized that Li Qing’an was the greatest threat to his throne.
Seeing that his son understood the severity of the situation, Li Heng continued, “Everyone says An Lushan is a serious threat to the court, but that’s not true. Compared to Li Qing’an’s threat, An Lushan is nothing at all. He is just a barbarian. If he rebels and seizes the throne, no one in the world will recognize him. But Li Qing’an is different. He is from the imperial family, and after Crown Prince Jiancheng, many people sympathize with him. Moreover, since you have made him the Prince of Zhao, it’s as if you’re acknowledging the legitimacy of his usurpation. Your Majesty, if we don’t stop Li Qing’an’s infiltration into the Central Plains soon, I’m afraid in a few years, you’ll have no money to govern the country and will have to abdicate in favor of him.”
Although his father was exaggerating a bit, Li Yu knew the situation was indeed serious. After pondering for a moment, he said, “Then, Father, what should I do to stop him? Should I ban the circulation of Anxi silver coins in the Tang Dynasty?”
“No! You can’t ban them. You’ve seen with your own eyes—everyone accepts Anxi silver coins. As long as he sends them to the Central Plains, there will be no shortage of buyers. The key is to stop them from reaching the Central Plains from the source.”
Li Yu pondered for a while. He now understood what his father meant.
“Father means the Hexi region, right?”

Li Heng stroked his beard and smiled. “The crown prince is truly perceptive. Right now, Yang Guozhong, Zhang Yun, Chen Xilie, and others are all strongly opposed to dividing Hexi. Why not take advantage of the situation and reestablish a governor for Hexi, cutting off Li Qingdong’s path to the Central Plains? In that way, he won’t be able to obtain supplies or manpower from the Central Plains, nor can his silver enter there. With Hexi as a barrier, he won’t be able to send troops directly to Guanzhong. Hexi is a strategic treasure!”
“But I’m worried that Ge Shu Han will object.”
“Ge Shu Han isn’t a problem. I’ll persuade him. The key is to appoint a capable governor for Hexi. Crown prince, I recommend Guo Ziyi as the governor.”
……
Li Heng left, and Li Yu sat alone in the imperial study, staring blankly out the window. It had been almost half a year since he ascended the throne, yet his anxious state of mind remained unrelieved. The worsening situation of the Tang Dynasty kept him awake at night. The separatist forces of the regional warlords had become a reality and were even growing stronger. On the surface, the situation seemed calm—Yangzhou, Jingzhou, Yizhou, Hebei, Anxi—all areas now out of the central government’s control—seemed peaceful.
But as the emperor of the Tang Dynasty, Li Yu was well aware that the crisis had not disappeared; on the contrary, it was deepening. According to his latest intelligence, King Li Lin had recently appointed Cui Qiao, the magistrate of Yangzhou, as the governor of Suzhou. Although Li Lin nominally reported this to the Ministry of Revenue afterward, it couldn’t change the fact that he had already seized Suzhou. Coincidentally, a few days ago news came from Hebei: An Lushan had replaced thirty-six Han generals in the Hebei army with his own regional generals and was also recruiting heavily among the Turks—clearly preparing to rebel openly.
Thinking of the hardships of being an emperor, Li Yu couldn’t help but sigh deeply. At that moment, Li Mi’s voice came from behind him, “Why is Your Majesty sighing?”
Li Yu shook his head gently. “My master should know why I’m shaking my head. State affairs are extremely difficult!” Although Li Yu had already become emperor, he still referred to Li Mi as his master and appointed him as a Grand Scholar of the Hanlin Academy, granting him the privilege to enter the imperial study freely. Li Mi was not only his master but also his chief advisor. The plan to seize Nan Jiyun’s military power through a facade of promotion was orchestrated by Li Mi. These days, he had been tasked with working with Wu Di Qi, the Minister of Revenue, to develop a salt monopoly system, and a complete plan had already been formulated. He had come today specifically to report to Li Yu.
Li Mi slowly stepped forward and smiled. “Governing a country is like cooking sheep—requires slow simmering over low heat, with various seasonings, to produce delicious and fragrant meat. Your Majesty shouldn’t be too hasty.”

“But it’s been nearly half a year since I ascended the throne, and I’ve gained nothing. How can I not be anxious? At least I need to find a sheep so that I can slowly simmer it over low heat—this will at least bring me some peace of mind!”
“Your Majesty, the sheep is already here.”
Li Bi placed a thick report on the table and said with a smile, “This is the salt monopoly policy I devised together with Wu Diqi. If implemented over the next two years, it will enable the imperial treasury to increase its salt taxes by one million guan.”
Financial hardship was also one of the major problems Li Yu faced after ascending the throne. At the time of his accession, the Left Treasury only had 300,000 guan in reserves. Fortunately, Li Longji had a large amount of gold, silver, and jewels in his personal treasury, and the imperial farms also held considerable grain stores. By selling half of these treasures, he obtained one million guan, and by transporting 800,000 dan of grain from the imperial farms to the capital, he was able to raise 100,000 new soldiers in Guanzhong and Longyou. However, when it came to fulfilling his promise to pay off the officials’ unpaid salaries, it was unclear when that could be done.
Under normal circumstances, this salt monopoly report would have filled him with joy, but today Li Yu was preoccupied. He flipped through it casually before placing it on the table.
“Your Majesty, what’s happened?” Li Bi knew his emperor-student well. Seeing him worried, he immediately realized that the retired emperor must have told the sovereign something. He knew Li Hen had just left.
“The retired emperor advised me to target Li Qing’an first.”
Li Yu sighed and recounted in detail what had happened that day and Li Hen’s advice. He concluded by saying, “Targeting Li Qing’an goes against my master’s strategy of making distant allies while attacking those nearby. Yet Anxi’s control over wealth in the Central Plains is growing day by day, and I’m very worried. My mind is in chaos now. Please teach me, master.”