Volume One: Song of the River City Chapter 23: Borrowing Money

The interior design and décor of the shop were just as sophisticated as its grand exterior. As soon as Li Ling stepped inside, he was greeted by a row of tall counters standing in the center, clearly crafted from the finest timber. Nearby stood chairs and tea tables made of the same high-quality wood, topped with complete sets of celadon tea ware.

The corners were accented with several large vases, their glazed surfaces decorated with colorful porcelain figures and landscapes. These pieces blended surprisingly well with the furniture, imbuing the entire space with an air of elegance. It felt less like a money shop reeking of copper and more like the residence of a scholarly, distinguished family.

Several clerks behind the counter were serving customers with bright smiles. In truth, few people came to the money shop to deposit money at this time; most preferred to hide their silver and cash at home, feeling it was more secure. Even those who did come for various reasons rarely deposited large sums. Yet, the clerks remained attentive and professional, never showing the slightest disdain for smaller business.

*This is how a merchant dealing in major trade ought to behave,* Li Ling thought to himself. Just then, a clerk approached him with a smile and asked, "Are you here to make a deposit, sir? If so, could you please step inside to discuss the details?"

Li Ling smiled back and shook his head. "No, I am here to borrow silver from your establishment."

The clerk was slightly taken aback. In this day and age, very few people went out of their way to borrow money from a bank. Most turned to friends or family when they were in need. Perhaps due to the tarnished reputation of usurers, people viewed borrowing interest-bearing loans from a money shop as an extremely risky gamble, fearing that one day they might lose everything they owned.

Only fellow merchants who were on good terms with the Wan family would occasionally borrow a sum when their capital was tied up. Thinking of this, the clerk said, "Please, come inside, sir. Would you like to discuss this with our manager?"

"Certainly," Li Ling replied, ever agreeable. He followed the clerk to a small door beside the counter, which led to a quiet parlor at the back of the shop. After the clerk went in to announce him, a middle-aged man with slightly graying hair and a warm smile came out to greet him, ushering Li Ling into the room to be seated.

"You are a new face, sir. I assume you are not from Hengzhou Prefecture?" the manager asked after a brief exchange of pleasantries.

Li Ling nodded. "I am from Jiangcheng County. Our shop has recently run short on liquidity, which is why I have come to request a loan."

"Oh? Does Jiangcheng County not have its own money shops? Why travel so far?"

"Because we require a significant amount—three or four thousand taels."

The manager blinked slightly before replying, "That is no small sum... Of course, our Wan Family Money Shop can certainly provide it, but..."

"I understand. For a loan of such magnitude, you require security. I have brought it with me. The Gu Family Bookstore is willing to offer its premises as collateral. Whether it be by early next year or within two months at the latest, we will return the principal and interest in full." With that, Li Ling placed the parcel he had been carrying onto the table and slid it toward the manager. "These are our bookstore’s land deeds, property titles, and the relevant official documents, along with our business records from the past year. These alone are enough to prove that our bookstore has been operating well; we only seek this loan because we are planning changes to our book printing methods and are currently pressed for capital. Please, take a look."

The manager gave Li Ling a thoughtful look. He had not expected such a young man to be so thorough, addressing almost every one of his potential concerns. Indeed, when unfamiliar merchants came to borrow money, they often worried about hidden traps. Usually, they would ask the applicant to go home and gather the necessary documents and ledgers, and then require physical collateral.

But Li Ling had prepared everything in advance, leaving the manager feeling as though he had no room to maneuver. The only thing left to do was to carefully examine the documents for any issues. He nodded at Li Ling and began to read through the papers, not missing a single word or seal.

He spent over an hour reviewing them. Li Ling showed great patience, sitting by his side, sipping tea, and providing explanations whenever the manager looked puzzled. Especially when the manager reviewed the account books, Li Ling was able to clarify every query, his answers truly airtight.

Only after examining all eight or nine documents did the manager rub his weary eyes, secretly astonished. It wasn’t that there were problems; he was shocked that there were absolutely no flaws at all. The ledgers clearly showed that the bookstore was a solid business. As long as there was sufficient capital, there would be no risk of failure; they were perfectly safe to lend to. What disturbed him slightly was just how well-prepared the man was—completely unlike any other merchant who had come to borrow money for the first time.

After waiting a while longer, Li Ling asked with a smile, "What do you think, Manager? We are in urgent need of funds, so if everything is in order, I hope we can finalize this soon. I am prepared to sign whatever documents are required at the prefectural yamen or elsewhere."

"This... as far as I can see, your bookstore has no issues at all. However, three or four thousand taels is a significant sum, and it is not something I can decide alone. Please wait a moment while I consult with the owners."

"Very well. I shall wait outside. As for these items..."

"If you trust us, you may leave them here. Also, if you are hungry, we have some pastries you may enjoy." Seeing Li Ling nod, the manager had some refreshments brought out for him before taking the stack of documents to the back courtyard for instruction.

While Li Ling sipped his tea and enjoyed the pastries, two shrewd-looking men in the back courtyard had already heard the manager's report and were reviewing the documents. They were much faster; within the time it takes to brew a cup of tea, they had gone through everything. One of them nodded and said, "The Gu Family Bookstore is indeed sound. Everything in the ledgers is reasonable; they have no external debt and no bad accounts. It is a high-quality client worth lending to."

"If you say so, Brother Hai, then there is no problem," the other man said with a more cavalier attitude. He took a sip from his purple clay teapot and shook his head. "Hearing you say that, this fellow seems to be quite a character. Shall we meet him? It would be a good way to build a connection."

"That is true. In business, more friends mean more paths. It could even pave the way for us to expand our money shop to Jiangcheng in the future..." As Brother Hai spoke, his expression suddenly shifted. "Wait!"

"What is it? Is something wrong?"

"Do you remember that the family was planning to expand the bookstore business? Where was that expansion directed?"

"I heard the Third Branch mention it when the Old Master called us for a meeting last month. It seems they went to Jiangcheng County!" As he spoke, his own expression changed. "A bookstore, and in Jiangcheng County? Could it be that they are competing with our own Wan Family Bookstore and are now short on capital?"

"That is nine times out of ten the case!" Brother Hai tapped the ledger. "Otherwise, why would they suddenly need such a large sum of silver to invest in new printing methods? It is clearly to counter the Third Branch."

Manager Zhang looked troubled. "If that is the case, I should go and turn him away. The nerve of this man, coming to our shop to borrow money."

But just as he turned to leave, Brother Hai spoke again: "Wait."

The other man followed up: "That would indeed be improper. It goes against the reputation and principles our Wan Family Money Shop has built over the years. Zhang, do you remember what we have always stood for?"

"Lending without discrimination!"

"Exactly. The most important thing for us is to treat everyone equally. As long as it is a trustworthy merchant, regardless of their relationship with us, we should lend to them. Only then can we attract more customers, spread our reputation further, and one day step out of Hengzhou and beyond the Huai River!"

"But this is a bookstore competing with our own family... they are our enemies..."

"You are mistaken. They are merely competitors to the bookstore division. To us, the Gu Family Bookstore is a high-quality client. Since we have already confirmed they are sound, how can we turn away business? If word got out, how could the Wan Family Money Shop ever be trusted again?"

"And another thing," the other man added, "can you be sure he isn't here just to stir up trouble? If his true purpose is to smear our reputation, he might succeed in his business while we lose the hard-earned credibility of our shop. We cannot risk a great loss for a petty gain."

After this exchange, Manager Zhang changed his mind. "Then we agree? We lend him the silver?"

"Lend it. Give him five thousand taels at five percent monthly interest, with the principal and interest to be repaid by February of next year!"

After the manager left, the two men exchanged a knowing smile. "Brother Hai, you didn't decide this solely because of those concerns, did you?"

"And you? You spoke of 'petty gains' yourself," Brother Hai chuckled. "For the past two years, the Third Branch has held our Main Branch in low regard. They think that because their bookstore business is doing well, they are the great heroes, while they belittle us behind our backs, claiming we are merely living off the past. Do they ever stop to think where the capital for their shops comes from? It comes from the money we work so hard to earn! Since they think we are useless, let them suffer a setback. It will teach them exactly how important our Main Branch truly is!"

Success in some matters requires not only one's own efforts but also the cooperation of others—especially one's opponents.