Volume One, Chapter 20: The Plunge Begins

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In Jiangcheng, the streets were filled only with gaunt and sallow-faced commoners. Whenever these people glanced toward the county government office, their eyes brimmed with malice and resentment.

Originally, grain cost one hundred wen per dou. They could grit their teeth and manage to buy a few dou, at least enough to avoid starving to death early, perhaps even holding onto some hope.

But now, with the price soaring to five hundred wen per dou, even if they bit the bullet and bought a single dou, hope was nowhere in sight.

“Corrupt officials! Since taking office, all you know is to extort wealth. Not a grain reaches us common folk. You’re nothing but a wretched bureaucrat!”

“You, Zhang, rotten official, may you meet an ill fate!”

“Mother, I want some porridge.”

“Child, mother is sorry. If we can’t buy grain today and starve to death, I won’t let that corrupt official off!”

Throughout Jiangcheng, the only voices heard were those cursing Zhang Yan. Yet the people were so famished that even their curses were weak and feeble.

“Good news, everyone! Good news!”

“Grain merchants from outside are selling grain over there—only one hundred thirty wen per dou!”

“One hundred thirty wen? We can manage that if we grit our teeth. Children, we’ll have food to eat.”

After enduring sky-high grain prices, even one hundred thirty wen per dou felt like a blessing to the people. At least at that price, buying a dou of grain could sustain them for a while.

The influx of outside grain merchants was originally driven by the hope of profiting from Jiangcheng’s exorbitant prices. But upon entering the market, prices plummeted to just one hundred thirty wen per dou.

They were no match for Jiangcheng’s three major grain merchants, whose deep roots and influence gave them a stronghold.

Unable to afford losses, the outsiders had no choice but to lower prices. Since the grain they gathered nearby cost only fifty or sixty wen per dou, selling at a discount still yielded profits.

“Come and see! Only one hundred twenty wen per dou!”

“Clearance sale! One hundred ten wen per dou!”

“Selling at a loss! One hundred wen per dou!”

Within half an hour, the price dropped from the county office’s initial one hundred fifty wen per dou to just one hundred wen.

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This decline was much faster than the recent price hikes.

Inside the county office, Xu Mu paced anxiously.

“It’s been half a day, and the three major grain merchants still haven’t lowered their prices. The grain in the county’s warehouse will only last the Imperial Guards another half day at most.”

Xu Mu’s face was tense as he spoke.

Zhang Yan, however, lay leisurely in a recliner, savoring grapes fed to him by Xiao Huan, his expression calm and collected.

“Do not worry, Lord Xu. In my view, the grain price has already come down.”

Xu Mu frowned in confusion; he had not yet heard any official reports of price reductions.

Before he could ask, a clerk burst in excitedly with news.

“Report! External grain merchants have entered the market; grain prices have dropped to one hundred wen per dou!”

At this, Xu Mu’s face brightened. As long as prices fell, the three big merchants would soon be forced to act.

Zhang Yan’s lips curled into a faint smile, confident and in control. “Lord Shen, have the Imperial Guards also lower their prices to pressure the three major merchants into selling.”

Shen Qiuxue promptly acknowledged and went to carry out the order.

Now, Shen Qiuxue no longer doubted Zhang Yan.

Soon, a flurry of reports arrived at the county office.

“Report! The three major grain merchants have begun selling; prices have dropped to ninety wen per dou!”

“Report! The three major merchants and outside merchants are battling; prices have fallen to eighty wen per dou!”

“Report! Internal conflicts among the three major merchants; prices have plunged to seventy wen per dou!”

...

Grain prices changed by the hour.

By evening, the price in Jiangcheng had fallen to sixty wen per dou and finally began to stabilize slightly.

It was almost certain that prices would continue to fall.

Neither the local three grain merchants nor the newly arrived outsiders wanted to be the ones to suffer the losses in Zhang Yan’s carefully laid trap.

Thus, each sought to transfer risk onto the other, driving prices down rapidly in a “better us than you” mentality.

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Xu Mu’s expression of excitement had never waned since the first report from the clerk.

At first, when meeting Zhang Yan, Xu Mu had little hope—he had expected only a slight price reduction at best.

Zhang Yan’s earlier behavior had even annoyed him.

But now, Xu Mu realized his own narrow-mindedness.

With a loud thud, he knelt before Zhang Yan and bowed deeply. Sincerely, he said, “I was wrong to doubt you, Lord Zhang. Your strategy is divine, and I am in awe. On behalf of Jiangcheng’s people, I thank you!”

Zhang Yan quickly shifted to the side and helped Xu Mu to his feet.

This was a truly benevolent official—having Xu Mu kneel before him was almost overwhelming.

“Lord Xu is too kind. A good official serves the country and the people; this is merely my duty,” Zhang Yan smiled warmly.

Just then, Shen Qiuxue returned to the county office and heard Zhang Yan’s words, looking surprised.

He claimed to serve the country and the people?

Zhang Yan did not notice Shen Qiuxue’s astonished gaze. Instead, he said to Xu Mu, “The majority of the money from the three major grain merchants is already in our hands. Tomorrow, Lord Xu can return the gentry’s money in full as previously agreed, with the merchants’ money divided seventy-thirty.”

“These letters are those I have written to the major gentry over the past two days. Lord Xu can deliver them. Once prices stabilize, the county office will launch a large-scale recruitment effort, and the gentry will follow suit. But Lord Xu must remember—wages cannot be too high. This is an agreement I have with the gentry.”

Xu Mu listened carefully, his face full of puzzlement. He asked, “I am simple-minded; may I ask, Lord Zhang, what is the purpose of this recruitment?”

At this point, Xu Mu no longer thought Zhang Yan was acting recklessly. There had to be a deeper plan, one he simply had not grasped.

Zhang Yan glanced at Xu Mu and shook his head inwardly.

He was a truly devoted official, but unfortunately, his mind could not turn quickly enough.

Smiling, Zhang Yan asked, “Lord Xu, in this year of great calamity, what difference does it make to the common people if grain costs one hundred wen per dou or fifty wen per dou?”

Suddenly, Xu Mu was enlightened, as if a profound truth had been revealed.

For the common people, whether grain was expensive or cheap made little difference—they simply could not afford it, and death by starvation was only a matter of time.

But if the county office and gentry were recruiting laborers, that would give the people the means to survive, providing a lifeline during this devastating year.

The price was indeed high—truly high!