Chapter 610 - Channels
All three Purple-Character establishments under the Guangzhou Station had absorbed substantial deposits. These deposits were actually stored collectively at Delong Bank. If Guangdong was going to attack Lingao, the fate of enterprises so closely connected to Lingao was obvious. Depositor runs were to be expected.
Meng Xian kept shaking his head: "Where would we get so much cash right now?"
Most of the deposits they had absorbed had been invested in the Guangzhou Station's operations—per instructions from the Financial Superintendent, deposits collected locally in Guangzhou weren't to be used for purchasing raw materials needed by Lingao. They were deployed in the Guangzhou Station's various businesses and investments: opening new enterprises; purchasing goods for overseas trade—apart from sugar and liquor supplied by Leizhou and some products supplied by Lingao, the rest of the cargo for Lingao's Southeast Asia Company trading ships was all handled by the Guangzhou Station; and operating lending business—including inter-merchant lending, commercial loans, and small personal loans.
"How much cash do you have on hand right now?" Guo Yi asked.
"Less than sixty thousand immediately available. I've kept a reserve of twelve and a half percent..."
Delong Bank held deposits absorbed by the various establishments plus those it had collected directly—a total of four hundred thousand taels. This was no small sum in this time-space.
"Never mind the reserve ratio. You need to take inventory quickly. Each establishment should still have some working capital in silver. Go back and consolidate the silver first, count it clearly. How much cash is actually available must be reported daily. Outstanding accounts receivable should be collected as soon as possible. As for accounts payable—" Guo Yi was about to say "put off what can be put off."
"I think accounts payable should be paid, without any delay," Meng Xian interjected. "Otherwise, if word gets out that we're delaying payments, it'll immediately trigger a run."
"That's true. Right now this is only rumor. If we're the ones who start panicking, we'll be the ones who suffer." Having been in Guangzhou for so long, Guo Yi knew well that commerce in this time-space lived and died by credit. Once word of instability got out, no matter how large your enterprise, it could collapse like an iceberg in an instant.
After further discussion, they decided that Guo Yi and the others would return to their respective posts to handle business and social obligations as usual. Secretly, they would make certain corresponding preparations.
"Yan Maoda, you manage the Qiwei side. Pay more attention to the escort bureau system; keep a tight grip on Sun Kecheng. If necessary, we can retreat through their network."
"That's no problem. Old Master Sun is very reliable," Yan Maoda said. "But Qiwei has frequent contact with us. That relationship probably can't be hidden from others."
"It doesn't matter if it can't be hidden. Qiwei also has business dealings with many wealthy households. Self-protection shouldn't be a problem."
Before the meeting adjourned, Guo Yi instructed Zhang Yuchen: "Take the radio and codebook and evacuate to Qiwei's backup liaison point first. And all the modern equipment in the safe house—pack it up and take it with you. Handle this personally."
"I'll take care of it as soon as I get back," Zhang Yuchen agreed.
The Guangzhou Station had set up multiple backup liaison points in the city to serve as refuges when necessary. These were watched by dedicated personnel and could receive evacuating staff at any time.
Early the next morning, Guo Yi rose at dawn and had Sun Chang summoned.
Since returning from review in Lingao, Guo Yi had formally freed Sun Chang from bondage. He was now Master Guo's chief steward, with a status and position very different from before. By the standards of this time-space, he was now a "powerful house servant."
"Take my sedan chair, bring the Fujian spring tea that just arrived a few days ago and my calling cards, and deliver them to each household one by one," he instructed Sun Chang. "If they receive you, go in and sit briefly, exchange a few pleasantries. If they don't see you, it doesn't matter. But remember: note each household's attitude carefully!"
"Yes," Sun Chang nodded. "Shall I follow the gift list?"
"Correct. Get the tea from Purple Treasure Studio. Two jin for each household."
"Yes. I'll go right away."
Human connections are as thin as paper—this held true in any time-space. If the news was accurate, these people would certainly avoid Sun Chang and his gifts as if he were a plague god.
The situation at Zhiming Tower remained unclear for the moment. Though reservations from important guests had decreased considerably, business conditions were still as good as ever.
"The situation looks bad." Zheng Shangjie came running to tell her. "Of the six VIP room reservations last night, three didn't show up! They stood us up!"
Pei Lixiu didn't need to look at the list to know which six had reserved VIP rooms for pleasure-seeking last night, and she could roughly guess which ones hadn't appeared. It seemed the matter was ninety percent certain.
"Prepare the sedan!" Pei Lixiu suddenly called out.
"Where are you going?" Zheng Shangjie saw her face alternating between pale and flushed and was quite worried.
"To the Gao residence!"
Su Ai, Gao Shunqing's beloved concubine, was her close confidante. Gao Shunqing was the Guangdong Provincial Inspector, occupying a distinguished position among provincial officials. He would certainly not be unaware of matters involving military action against Lingao.
News from Su Ai's side would be far more accurate than what filtered out from the advisors and deputies in the various prefectures and yamens.
Pei Lixiu's sedan chair was famous throughout Guangzhou. To avoid being too conspicuous and having Su Ai refuse to see her, she had bearers carry only the small two-person sedan kept at the tower for guests and headed to the Gao residence.
Because of her status, and since she was visiting a concubine, she naturally couldn't present her card at the main gate like a proper lady of a great household. She could only go quietly to the side gate and have a servant deliver her card.
The servant at the gate, seeing only a two-person sedan and a card presented at the side gate, figured this wasn't anyone important—certainly not someone calling on the master or mistress. Without even asking whom she sought, he coldly replied: "Not at home," and moved to close the gate.
Chunliu had seen plenty of such situations. She immediately slipped a string of cash over: "Please be so kind as to announce to Concubine Su that her sisters from the Purple family have called."
Hearing she wanted to see Concubine Su, and having received the money, the servant's expression instantly changed, resuming a respectful manner: "Please wait a moment!"
In the time it took to drink a cup of tea, Su Ai sent someone to escort her in.
The sedan was set down at the middle gate. The old woman serving as guide led her and Chunliu toward the rear courtyard.
Pei Lixiu had been here several times and knew that this beloved concubine of the Gao household—a former famous courtesan from Jiangnan—lived in the garden.
They walked along a path bordered by flowering trees. After winding through covered corridors and along stone paths, they arrived at a small, secluded courtyard with its own gate. Pei Lixiu usually lost her bearings easily. Though she had visited several times, she still didn't know the way and just followed the old woman in confusion. But this place she recognized—this was Su Ai's residence.
The flowers, trees, pools, and rocks in the courtyard were all tastefully arranged. A small three-bay building lay hidden amid dense tree shadows.
A maid at the door took over, supporting her as they walked while calling out:
"Miss Pei has arrived!"
Then came the sound of delicate footsteps. The bead curtain lifted, and first emerged a maid. She curtsied to the guest, then turned and held the curtain high with both hands. After a moment, a tall, elegantly dressed beauty came gracefully out.
This was Su Ai. By the standards of any time-space, Su Ai was undeniably beautiful—though her figure was somewhat slender. She hailed from Yangzhou. After coming to Guangdong, she found she couldn't speak the Cantonese dialect. The maids and servants around her were all brought from Jiangnan. Even the courtyard's layout, the house's furnishings, and the food were all in the fashionable "Southern style." Each time Pei Lixiu came here, she enjoyed a taste of Ming Dynasty Jiangnan elegance—quite different from Zhiming Tower's neither-ancient-nor-modern luxury.
Ordinarily when close sisters met, there would be much to say. But Pei Lixiu had no patience for pleasantries now. Su Ai seemed to sense her sister's purpose and directly escorted her into the inner room for tea.
After tea and refreshments were served, Su Ai instructed the maid to temporarily close the courtyard gate and keep away idle visitors. Only then did the two begin to talk.
What Pei Lixiu inquired about was naturally the recent movements of the Guangdong government.
"There's something I originally planned to come to Zhiming Tower today to tell you. Since you've come, that works too." She spoke softly.
Su Ai told her: Gao Shunqing had been drafting documents in his study every day recently. He seemed to be writing memorials. He frequently conferred with his advisors in the study and had specially sent people out to find books.
"What books?"
"Something about defending against the wokou, it seems." Su Ai spoke softly in her room. "From his manner, the government seems to be planning something against you all lately."
"What exactly is going on? Sister Su, please tell me what you know." Pei Lixiu was reduced to pleading.
"Don't worry!" Su Ai had always gotten along extremely well with Pei Lixiu and had received many favors from her. Seeing her close sister's master about to meet with disaster, she naturally couldn't refuse to help a little.
"The one heading this matter is an advisor at the Governor-General's residence, surnamed LĂĽ or something."
"LĂĽ Yizhong."
"Yes, that's him," Su Ai confirmed. "I don't know what this man is plotting, giving Governor-General Wang such an idea. Governor-General Wang was momentarily confused and listened to him. Sigh, what trouble!"
"Advisor Lü?!" Pei Lixiu felt as if struck by lightning. This Lü Yizhong was the Governor-General's advisor. She had gone out of her way to cultivate him—not only were the gifts for the three annual festivals and two seasonal greetings generous, but whenever he came to Zhiming Tower to entertain guests or meet friends, it was often at no charge. And this Lü Yizhong had always been very courteous to Guo Yi and herself. For any tricky matter, all it took was a note from Guo Yi, or even from herself, and it would be handled immediately. By any measure, their performance of the traditional Chinese official-merchant collusion was exemplary by both ancient and modern standards.
She had never imagined this seemingly upright, amiable old man could strike so ruthlessly! Thinking of how the empire Guo Yi and she had worked so hard to build was about to go up in smoke, Pei Lixiu trembled with rage.
"In sister's view, is there any way to salvage this?" Pei Lixiu pressed urgently.
"That depends on Governor-General Wang," Su Ai said. "However, LĂĽ Yizhong is very much in Governor-General Wang's favor. Unless this man can be made to change his mind, I'm afraid things can't be salvaged."
"Could sister perhaps ask Master Gao to—"
Su Ai shook her head repeatedly: "Don't even think about it." Perhaps feeling her refusal was too harsh, she softened her tone. "You know my master's temperament best. He despises all who trade overseas. Just the other day, he was talking about cutting off food and water supplies to the Portuguese to force them out of Macau. Your Australians have been stationed at Lingao, and he's heard of it. Since he can't even tolerate the Portuguese, would he tolerate the Australians?"
Su Ai added: "I advise you, sister, to quickly go back and talk to Mr. Guo. Have all the Australians at Lingao change their clothing and grow their hair, then send people to Guangzhou to obtain proper household registration. Why suffer in that pestilent place? With your abilities, you couldn't fail to establish yourselves here."
"Thank you for your counsel, sister."
Pei Lixiu expressed her thanks, then asked if Su Ai could intercede to protect the three Purple-Character enterprises.
"Sister probably knows that once word of the expedition against Lingao gets out, there are already many people eyeing Mr. Guo's properties. Once rumors spread, there'll likely be much trouble! I hope sister can obtain a calling card from Master Gao for protection—" As she spoke, tears were already welling in her eyes.
This wasn't affected emotion. She had genuinely been hit too hard. Especially Zhiming Tower, into which she had poured so much of her effort. If it were destroyed like this, how could she be reconciled?
"Don't worry, sister," Su Ai comforted her. "Officials are very shrewd. They definitely won't make a move on Zhiming Tower right away. It's just that now that rumors have started, there'll certainly be villains using the opportunity to cause trouble and extort you. There may even be those trying to pressure you into making dedications."
"Dedications?" Pei Lixiu naturally knew what this meant. Operating a business in the Ming Dynasty was extremely difficult. Merchants without backing often suffered extortion and harassment from various official and private malicious forces. Some merchants even went bankrupt from this. There were those who would dedicate their businesses to some gentry family in exchange for protection. Of course, a large sum of money had to be offered up front, with annual "tribute" thereafter. This was merely a commercial version of small landlords and self-cultivating farmers dedicating their land.
"That won't work," Pei Lixiu said dazedly.
"In times of danger, it's not a bad option!" Su Ai consoled her. "Don't you have excellent relations with the Gao family? The Gao family has connections to Eunuch Yang. If you dedicate to Eunuch Yang, then out of respect for the eunuch's authority, no one in Guangdong would dare touch you."
Finally, Su Ai gave her a small visiting card case. Pei Lixiu opened it to see a large red calling card—it was Gao Shunqing's own.
"Take this card. But if some powerful figure is determined to seize your properties, I'm afraid it won't be much use." Su Ai reminded her.
"Thank you, sister. The silver—I'll definitely send it another day!" Pei Lixiu knew that obtaining this calling card would normally cost at least three or four hundred taels—not counting the expenses needed to grease palms throughout the Gao household. For Su Ai to simply give it to her was truly sisterly affection.
"Between us sisters, what talk of silver!" Su Ai shook her head. "You'd best not come here for a while. As for silver, there's time enough to give it after you safely weather this crisis." She hesitated. "Also, the silver I have deposited at your establishment..."
Su Ai had two thousand taels deposited at Zhiming Tower—her savings accumulated over many years. Now that Zishi Enterprises was in peril, however loyal she might be, she couldn't stand beneath a crumbling wall.
Pei Lixiu quickly said: "Please give me your account booklet, sister. I'll have someone deliver the silver right away."
"The silver can't be delivered here," Su Ai said hastily. "Too many eyes and ears..."
"Yes, I was confused." This was Su Ai's private savings—how could it be openly delivered to the Gao residence? "Then where would sister like it deposited? I'll take care of everything and send the new booklet over."
"I think Delong would be fine. My master's remittances to the capital are mostly handled by that establishment now."
Pei Lixiu's heart had been heavy, but now she almost laughed aloud—the silver was already at Delong Bank. She had been worried it would affect Delong's cash reserves, but it turned out to be merely a matter of transferring ledger entries.
"Good! I'll take care of it as soon as I get back." Her answer was quite decisive.
Pei Lixiu returned from the Gao residence. She first sent Xiahe to Delong to make a ledger transfer, opening a new account under Delong's name and having the booklet sent to Su Ai. Then she sat down to write a confidential letter to Guo Yi—written in invisible ink, it contained a complete account of her visit to Su Ai and their conversation.
As for dedication, there was no need to consider—Guo Yi would never agree. Besides, it wasn't within his authority to decide.
She had just finished writing the letter and sent it off with a courier when Pei Lixiu was about to find Zheng Shangjie to discuss the current situation. But someone from the gatehouse came to report:
"Master Jiang from the Governor's office has arrived."
Master Jiang? Pei Lixiu thought for a long while before recalling—this was one of the advisors on Governor Li Fengjie's staff. His position wasn't prominent; he specifically handled trivial matters for the Li residence.
People like this had been a dime a dozen at Zhiming Tower in the past. But for him to suddenly come calling now, there must be a reason. Pei Lixiu pondered for a moment, then ordered: "Show him to the flower hall."
She tidied her appearance slightly before proceeding to the flower hall. This Master Jiang was already "waiting" inside.
The man was about fifty years old. Judging by his dress, he should be a xiucai or similar. His appearance and bearing were reasonably respectable.
But the moment he saw Pei Lixiu, his eyes fixed on her. Perhaps feeling this was too rude, he quickly shifted his gaze to Chunliu.
After they exchanged greetings, Chunliu served tea. Pei Lixiu then asked his purpose.
This Master Jiang coughed once, assumed an air of "official business at hand," and said imposingly:
"I've come to call today because, as it's said, 'an official body is not one's own.'"
Having been around Guangzhou for a long time, Pei Lixiu knew this was "official-speak"—roughly meaning "I'm here on official business, and official business must be handled officially." She was secretly alarmed. Could the Guangdong authorities be ready to make their move?
She thought of Su Ai's warning and Guo Yi's instruction at the meeting to "stay calm." She merely nodded slightly and asked:
"What instructions does the Governor have? Please inform me, Master Jiang, so I may comply accordingly."
Master Jiang hesitated a moment, then said:
"First, there have been some rumors in the city recently..."
He watched her, hoping she would speak first. But Pei Lixiu had already made up her mind—it was best to say as little as possible.
Seeing no response, Master Jiang silently cursed, then had to speak plainly:
"There are rumors that your master fraudulently registered in Guangzhou, but is actually an Australian from overseas."
"Though we're not Guangzhou natives, we're still subjects of the Great Ming," Pei Lixiu said slowly. "As for being overseas Australians, I don't know where that comes from."
(End of Chapter)