Chapter 394: The Secret Leaked

In Suiye, night had fallen. Li Qing’an’s inner study was brightly lit, with a brazier burning fiercely, emitting bursts of sparks that crackled loudly. In a brass stove in the corner, wisps of faint white smoke curled upward, filling the room with a gentle sandalwood scent.

Li Qing’an was sitting by the light, engrossed in reading. He reached for his teacup and slowly brought it to his lips, only to realize suddenly that the cup was already empty.

At that moment, the door opened. His concubine, Ruhua, entered carrying a cup of tea. Seeing Li Qing’an staring blankly at his empty cup, she smiled and said, “I came at just the right time!”

She knelt down, placed the tea tray on the table, and exchanged his cup for a hot one. Li Qing’an frowned. “Is it ginseng tea?”

Ruhua laughed. “It was my elder sister’s orders. You must drink it.”

Li Qing’an put down his book and pushed the cup back at her with a smile. “You know I don’t like ginseng tea. It easily causes internal heat. Go, get me some Mengding tea, or even just plain water will do.”

Ruhua hid her hands behind her back and shook her head, smiling. “I won’t do it. If my elder sister finds out, she’ll say I can’t even handle such a small task. How about you drink the ginseng tea first, and then I’ll brew you Mengding tea?”

“Do you only listen to your elder sister and ignore me? I’ve told you—I get internal heat from ginseng tea.”

Li Qing’an pinched her delicate cheeks and laughed. “Go now! If you listen to me this time, I’ll reward you well tonight.”

Ruhua gave him a seductive glance. “Ah! You’re so hard to please. Then wait a moment.”

With a graceful sway of her hips, she left. Moments later, she returned with another cup of tea, knelt down, and handed it to Li Qing’an. “Elder brother, the Mengding tea is already prepared for you.”

As he drank the tea, Li Qing’an wrapped his arms around Ruhua, gently touching her body. She leaned against him, fiddling with a silver coin on the table. Suddenly, she remembered something and sat up straight, smiling. “I had an idea about that silver coin while we were eating. Will you listen?”

“What’s the idea? Go ahead and tell me.”

Ruhua held the silver coin in her palm and smiled, saying, “Your Anxi silver coins are indeed good, but their value is too high—each coin is worth more than one guan. It’s fine to use them for buying larger items, but for smaller things like writing brushes, ink, paper, and inkstones worth two or three hundred wen, carrying that much money feels cumbersome. If someone gives you change of seven hundred wen, it’s even heavier. That’s why we’re thinking—could we create smaller silver coins, say worth around fifty wen, somewhere between silver coins and copper coins? That would be much more convenient.”

In fact, some officials had proposed issuing smaller silver coins before, but the idea was rejected because counterfeit coins could damage Anxi’s reputation. Li Qing’an smiled and said, “Issuing smaller silver coins makes them easy to counterfeit. Just like when the imperial court issues silver coins, for every one issued, ten fake ones appear, making it hard to distinguish between genuine and fake. Eventually, they’ll be despised, and the problem won’t be solved. Then, issuing silver coins loses its meaning.”

“You could use other methods too!” Ruhua said with a smile. “For example, you could issue small silver horns, about the size of a little finger—square or pentagonal in shape, small and delicate. People would immediately know they’re made of pure silver, and it would be impossible to counterfeit since the weight would differ. Or you could drill a hole in the middle so people can see inside at a glance. A silver horn could be worth fifty or thirty wen. That way, there would be a transitional currency between copper coins and silver coins—wouldn’t that be better?”

Li Qing’an was stunned. Ruhua’s suggestion was brilliant! Using silver horns—how hadn’t he thought of that? Just like the small silver pieces later on, they’d be hard to counterfeit, and having standard shapes and weights would make them even more convenient. It was truly an excellent idea. Overjoyed, he hugged Ruhua tightly and kissed her cheek deeply. “You’re like the goddess of wealth! I’ll adopt your suggestion.”

Ruhua gave him a charming look, stretched out her snow-white arms, wrapped them around Li Qing’an’s neck, and whispered in his ear, “Big brother, then how will you thank me?”

“Little demon, what do you want?”

“I want you…” Ruhua stretched out her two finger-like fingers and gently crushed the wick of the lamp, plunging the study into darkness.

……

In Chang’an, news spread quickly through the streets and alleys: the imperial court was about to issue new silver coins, with a ratio of silver to copper to lead of one to six to three, and one coin would be worth thirty wen. The coins would force all money changers to exchange their copper coins. The news spread like wind to every corner of Chang’an City and soon reached various counties in Guanzhong. People in Chang’an became panicked, with all sorts of rumors circulating in taverns, teahouses, and other public places.

“The court declared the Anxi silver coins illegal just to issue new silver currency…”
…
“This time, the court will issue silver currency worth three million guan. If the people refuse to exchange it, the court will buy grain in exchange.”
…
These various rumors quickly led to a series of serious consequences. First, there was a rush by people to withdraw money from banks. Not only merchants but also ordinary families who had money in banks rushed to exchange it, fearing their copper coins would be converted into silver currency. In just one day, Xu’s Bank, the fourth-largest bank in the capital, had 300,000 guan in copper coins withdrawn, leaving it with no funds left and forcing it to close. Wang Baoji’s Bank had already exchanged its 1 million guan in copper coins for 400,000 silver coins and IOUs for another 600,000 silver coins. During this rush to withdraw money, Wang Baoji’s Bank made huge profits—400,000 silver coins were withdrawn in just two days, earning it 120,000 guan in profit. Eventually, its vaults were empty, and it too had to close.
Next, the Anxi silver coins became the object of frantic pursuit again. Every household rushed to exchange copper coins for Anxi silver coins, especially merchant shops, which feared forced conversion by the court and tried every means to convert copper coins into silver coins and hide them. As a result, the price of Anxi silver coins soared. On the black market, its price reached 500 wen per guan, and it was difficult to obtain. In this situation, both banks and shops tried to transport or hide their copper coins for self-protection.
But the most affected were grain prices. The consequence of the court issuing silver currency in the previous two years had been a doubling of grain prices, which people still remembered vividly. Driven by the news of the upcoming new currency, there was also a rush to buy rice across Chang’an. Grain prices skyrocketed—Huzhou rice, originally priced at 400 wen per dou, rose to 700 wen per dou in just one afternoon.
By evening, the main hall of Guiqu Lai Xi Tavern was in chaos. Nearly a hundred merchants dining there were all cursing the new currency policy the court was about to introduce.
“Damn it! If they want money, they should just mint copper coins. They have no silver but still want to issue silver currency. I think they’re crazy for wanting money so badly.”
“Qin Dalang, you don’t understand. How much copper coin can be minted? It’s not like silver currency—worth fifty or a hundred times as much. Money will just flow in quickly. How much faster! Do you think people are stupid?”
“That’s not right. Isn’t this just issuing large-denomination currency? It would be even better to just issue large-denomination coins, like Dali Heavy Treasures, worth fifty times as much. Wouldn’t that be even faster?”

“Call me stupid if you want! I’m someone who cares about face—silver coins, understand? They’re made of silver. When historians write books in the future, it will say that on such-and-such day, silver coins were issued. Listen carefully: silver coins, not big coins.”
“Lao Wu, stop talking nonsense. Be careful or the authorities will catch you.”
“I’m not afraid of anything. If he dares to issue silver coins, I dare to curse him!”
“Alas! Morals are declining, and people’s hearts have changed. The current emperor has only just ascended the throne and probably doesn’t understand these things yet. It must be treacherous ministers influencing him, leading to silver coins being passed off as big coins.”
“That’s right! That Zhongshu Langzhong named Wu Diqi has always been advocating for the issuance of big coins. It must be this villain who’s instigating this.”
“Villain!”
…
The tavern was filled with shouting and cursing. Sitting by the window was a middle-aged man in his forties, head bowed, drinking in silence, his face pale as iron. Hearing the people’s outbursts, he grew furious several times but finally couldn’t hold back anymore.
This middle-aged man was none other than the villain they were cursing—Wu Diqi. He was a famous finance minister during the mid-Tang Dynasty. Historically, he became infamous for two actions: first, issuing big coins to plunder the people’s wealth—though he was merely framed; the real reason was the emperor’s need to raise military funds. Second, he implemented the salt monopoly system, which is still in use today.
Though his salt monopoly idea was sound, implementing it proved difficult. The key issue was that the salt fields were not under the direct control of the court. The Jianghuai salt fields were in the hands of King Li Lin of Wu, while the well salt in Bashu was under the control of the King of Shu. Although the South Sea region was under imperial jurisdiction, the Jingxiang route was blocked by Li Mao, making it hard to implement his plan despite its promising prospects.
Wu Diqi then shifted his focus to issuing silver coins, something he was determined to push through. Tomorrow would be the official day for its introduction. Yet the massive public resistance to the new silver coins left him extremely frustrated and angry. The emperor had repeatedly ordered that the matter be kept secret, but the news still leaked. Who could have done this?
As Wu Diqi drank in silence and listened to the merchants’ anger, various thoughts flashed through his mind. Eventually, one idea became clear.

It took the emperor one and a half months from considering the idea of minting silver coins to discussing and making a decision, and then preparing to officially introduce them. Throughout that time, there were no rumors in the market. Although the Anxi Bank had closed three days earlier, Di Wuqi believed it was because the supply of silver coins had been cut off, not related to the issuance of silver coins. The rumors about the issuance of silver coins suddenly spread yesterday, indicating that someone deliberately tried to sabotage it at a very precise moment—two days before the official issuance date, which meant this person knew the exact date.

Only six people knew this issuance date: the emperor, Yang Guozhong, himself, Pei Min, Yang Shenyu, and Li Mi. In other words, it must have been one of these six who leaked the information. Who could it be? Using the process of elimination, Di Wuqi ruled them out one by one. The emperor was out; he himself was out; Li Mi was out. That left three people: Yang Guozhong, Pei Min, and Yang Shenyu. All of them were possible suspects. Yang Huahua, the cousin of Yang Guozhong and the head of the Yang’s Bank, the third-largest bank in Chang’an, had a personal stake in the matter. Yang Shenyu, the supervisor of the Imperial Works Bureau, was the brother of Yang Shenjin, who was part of Zhang Yun’s faction, so it was also possible that Zhang Yun was behind it. But the most suspected person was Pei Min, as he was the brother-in-law of Li Qing’an. The issuance of silver coins would directly conflict with the interests of the Anxi silver coins. If it were Li Qing’an’s doing, then it must have been Pei Min who leaked the information.

“Pei Min!”

Di Wuqi gritted his teeth in anger. He knew Pei Min was firmly opposed to the issuance of silver coins. Since his opposition hadn’t succeeded, would he resort to such sabotage?

Di Wuqi could no longer sit still. He pushed back his table and stood up. His servant, who had noticed this, immediately came over. “Sir, would you like to settle the bill?”

“Settle the bill?” Di Wuqi was stunned for a moment before saying unhappily, “How much?”

The servant held a bill in his hand and said respectfully, “Sir, two pots of high-quality Shili Xiang wine, half a roasted lamb leg, one stewed carp, one beef patty, a plate of seasonal fruits and vegetables, and one bowl of fragrant soup. In total, it’s two guan and fifty wen.”

Di Wuqi reached into his pocket. There was only a handful of silver coins in it—coins issued by Li Longji last year, worth one coin equal to a hundred ordinary coins. He took out the coins and placed them on the table. “See if this is enough?”

The servant’s expression changed immediately. He shook his head and said, “Sir, our shop does not accept silver coins. We only accept Anxi silver coins or copper coins. If you find copper coins inconvenient to carry, please pay with silver coins instead!”

Wu Diqi instantly flew into a rage. He slammed his index finger hard on the table and snapped, “This is silver currency issued by the imperial court. The law mandates that it must be accepted. The Anxi silver coins have already been banned by the court—how dare you still use them?”
His loud voice drew everyone’s attention. They glanced at the silver coins on the table and then at Wu Diqi, as if looking at a strange man. No one had used those coins in half a year, yet he still brought them to pay the bill—clearly trying to avoid paying for the wine.
“Hey! Aren’t you reasonable, man?”
Some people began to speak up in defense of the waiter, accusing Wu Diqi, “Who uses silver coins these days? If the waiter accepts your silver coins, he has to pay for the wine out of his own pocket. This guy has no grudge against you—why are you harming him?”
“Man, you must have just come down from Zhongnan Mountain!” someone teased.
The hall was immediately filled with laughter. Wu Diqi was so angry that his face turned purple, and he couldn’t say a word. The waiter didn’t spare him either, saying darkly, “If the customer doesn’t have any money, he can take off his clothes to settle the bill. Otherwise, give us an address—we’ll go to your house right away. In short, if you don’t pay, you won’t be able to leave.”
At that moment, the shopkeeper rushed over. “What’s going on?”
The waiter quickly pointed at Wu Diqi and whispered to the shopkeeper, “This man owes two guan for wine but tries to pay with silver coins. I refused, and now he’s threatening me with the law.”
The shopkeeper had some experience. Seeing Wu Diqi’s fine clothes and distinguished demeanor, and noting that he wasn’t among the recorded free-riders, he wondered if he might be a high-ranking official. But high-ranking officials usually had attendants, and this man had come alone. The shopkeeper couldn’t decide what to do, but he still had to be polite.
He stepped forward and bowed, saying, “Sir, our shop makes little profit and can’t afford debts. How about this? We’ll send someone with you to your home to get the money. Let’s resolve this amicably and avoid any conflict.”
Wu Diqi sat down with a dark expression, slapping the silver coins on the table. “This silver currency is required by the court—one piece is worth a hundred. Will you accept it or not?”
“Well…”
The shopkeeper was in a dilemma. He absolutely couldn’t accept silver coins. If he did, all free-riders would come using silver coins to get free food, and he couldn’t afford that loss. Rumor had it that some villains took advantage of this loophole to force purchases and sales. Could this middle-aged man be one of such villains?
Thinking this, the shopkeeper bowed and said, “Sir, let our shop treat you to this meal. We won’t accept these silver coins. Please take them back.”

Wu Di Qi felt he had suffered a tremendous insult—this shop dared to mock him for not having money to pay. He could no longer contain his anger and slammed the table, shouting, “I am a high-ranking official of the Tang Dynasty! How dare you insult me?”
Silence fell over the hall. After a long while, someone said coldly, “That’s Wu Di Qi!”
“Beat him! Kill this traitor!”
Countless fists flew at Wu Di Qi, with curses and roars filling the air; the tavern seemed to be overwhelmed by rage.
…
On the west bank of the Yellow River in Youzhou, endless sands stretched westward. This was the northern part of the Helan Mountains, and a few hundred miles further north lay the vast Langshan Mountains. Here, a huge wind gap had formed. Millions of years of sand erosion had gradually turned this area into a Gobi desert. Occasionally, merchants traveling from the north would cross this endless desert and cross the Yellow River to enter the Tang Dynasty.
After the An Lushan Rebellion, Hexi and Anxi were occupied by the Tibetans, forcing the Silk Road to shift northward into the desert regions. This route later became the main artery of the Northern Silk Road. But at that time, it was still just a side path used occasionally by grassland merchants to enter the interior.
It was early November now, with howling cold winds and a desolate landscape. Winter had arrived, making the land even colder. The Yellow River was frozen, its bright icy surface stretching from north to south like a gleaming jade belt. That dusk, a caravan arrived from afar, consisting of hundreds of camels, each carrying large wooden crates. In the cold early winter, they slowly made their way toward the Tang Dynasty.
The caravan consisted of over 500 people. Leading them was a young man in his early thirties, tall and strong, with thick eyebrows and big eyes. His straight posture clearly indicated he was a soldier. His name was Zhang Yongqing. He had once been one of Li Qingan’s personal guards and was now the second military commander of the Hanhai Army, titled as a general. He had been ordered to go to the capital to deliver 1.5 million Anxi silver coins to Chang’an. Since the roads to Hexi were blocked, they took a detour through the northern desert, passing through the Juyan Sea under the control of the Tang army there, intending to enter the interior from there.
Once they entered the route to the interior, they would split up, with the Han-Tang alliance assisting them in entering Central China. All the checkpoints along the way had been arranged, and the key was to pass through the territory controlled by the Shuofang Army.
There were still twenty li left until the Yellow River. On the east bank of the river, a new fortress had been built called Baisha Army, with a garrison of a thousand soldiers. Once they crossed this fortress, they would enter the heart of Youzhou.
At that moment, a soldier pointed to the distance and shouted, “General Zhang, someone is coming from ahead.”

Zhang Yongqing waved his hand, and the camel caravan stopped. He straightened up, pulled back the curtain, and looked into the distance—he could already see movement there.
A moment later, three riders rushed back from afar and quickly approached the caravan. They were not the scouts he had sent but Anxi officials who had arrived earlier to clear the way.
An older official bowed from his horse and said, “General Zhang, thank you for your hard work on this journey.”
Zhang Yongqing promptly returned the greeting, “Thank you, Judge Han. Do you have any news?”
“We have made contact with some officers from the Shuofang army. It’s impossible to pass through Guo Ziyi’s forces, but we can buy off the local guards to enter the interior.”
“What about the situation with the Baisha army ahead?”
Judge Han smiled slightly and said, “As long as you’re willing to invest, there’s no obstacle that can’t be overcome. The Shuofang army guarding Baisha Fort are Dangxi people, led by a man named Fang Dangnunu. We’ve reached an agreement—ten thousand sheep each time in exchange for allowing us to pass through his territory at night. General Zhang, the path is open.”
Zhang Yongqing was overjoyed. He glanced at the sky—it was almost dark. He turned around and waved, shouting, “Set off! Cross the Yellow River at night!”
The camel caravan set off again, the sound of camel bells ringing as they headed toward the Yellow River, twenty li away.