EBE Chapter 72 The Great Qin Bank
Chapter 72 The Great Qin Bank
By the end of the day, over a hundred people had signed up for memberships at Yingwuyou's restaurant. Ninety percent of them were regular members, the rest were silver members, and not a single person signed up for a gold membership.
Ying Wuyou was quite pleased with this, as it was much better than he had expected. Looking at the chests of money, he felt a great sense of accomplishment. As dusk fell, he had carriages transport the chests of silver to the money exchange.
Upon arriving at the money exchange, Ying Wuyou carefully carried the box inside. Fusu personally came out to greet her, and seeing so much silver, he couldn't stop smiling.
"Jiayang, you're really amazing!" Fusu exclaimed.
"Haha, brother, just you wait and see, this is just the beginning," Ying Wuyou replied with a laugh.
Fusu ordered his men to carry the silver inside and then began counting it. Ying Wuyou watched from the side, secretly pondering how to use the silver.
After a while, Fusu finished counting the silver and said to Ying Wuyou, "Jiayang, it's a total of 1.9 million taels of silver."
Ying Wuyou nodded, feeling quite satisfied.
The next morning, sunlight bathed Xianyang city, and people began their busy day. However, a startling piece of news plunged the entire city into a frenzy of discussion: the Great Qin Money Shop was about to open its doors! This news quickly spread throughout the streets and alleys, attracting widespread attention.
People spread the word, filled with curiosity about this new thing. They gathered together to discuss and speculate about what this money exchange did and why it so boldly claimed that it could pay high interest rates.
The opening ceremony of Daqin Money Shop attracted countless eyes. People flocked from all directions, curiously peering at this novel place, eager to see what this so-called Daqin Money Shop was really like. Some shook their heads, thinking, "Who would be foolish enough to entrust their money to someone else? That's insane!" Others firmly believed that this money shop was definitely a scam, a place to swindle money. But a few held a sliver of hope, thinking, "In Daqin, surely no one would be so audacious as to openly cheat people?" Just as the crowd was discussing and holding differing opinions, the doors of Daqin Money Shop slowly opened.
Ying Wuyou, holding the simple bronze megaphone she had used earlier, cleared her throat and announced loudly, "Fellow villagers, greetings! I am Princess Jiayang, and standing beside me is my elder brother, Prince Fusu of the Great Qin." As she spoke, she introduced Fusu to the crowd. Fusu smiled and bowed to everyone, showing his friendliness and respect.
Following this, Ying Wuyou said, "This Great Qin Bank was established by my brother and me through our joint efforts. Its main functions are currently threefold: 'deposits, withdrawals, and loans.' Deposits, as the name suggests, mean that you entrust your money to our Great Qin Bank for safekeeping. Deposits will accrue interest, and if any deposits are lost, our Great Qin Bank will compensate you. Withdrawals are for your convenience. We will be opening Great Qin Banks in all the major cities of Great Qin. Once you deposit money with us, we will issue you a receipt. You can then use this receipt to withdraw your money from other Great Qin Banks free of charge. Loans mean that our Great Qin Bank can provide financial support to people who cannot afford to cultivate land. You can obtain loans from us..." "Our Great Qin Bank will take the money to buy seeds for planting. The money will be repaid after the crops are harvested. For those who buy seeds for planting, we will not charge any interest. For loans used for other purposes, the interest on 10,000 taels of silver will be only two qian per day. Furthermore, I want to emphasize that money borrowed from the Great Qin Bank can only be spent within the Great Qin territory. If anyone dares to use the money for consumption in another country, we will definitely recover the loan, and that person will never be allowed to set foot in our Great Qin again. Also, no matter what you borrow for, we will investigate each case thoroughly. If anyone attempts to use the money for buying seeds for other purposes, we will not only recover the loan, but such a person must also compensate us for our losses, with the compensation amounting to one hundred times the loan amount. That's all. Does anyone have any further questions?"
At this point, someone asked in confusion, "How is the interest on that deposit calculated?"
Ying Wuyou looked at the person who asked the question with a gentle gaze and said with a smile, "Your question is very good. Let me explain our interest calculation method in detail. If you deposit one hundred taels of silver in Daqin Bank for one year, you will receive one qian of interest per day; if you deposit one hundred taels of silver for three years, the daily interest will increase to three qian; and if you deposit one hundred taels of silver for five years, the daily interest will become five qian!"
Upon hearing this, the crowd began to murmur amongst themselves. Such a high interest rate was truly astonishing. What did this mean? It meant that depositing silver in the Great Qin Bank not only ensured the safety of the funds but also yielded extremely generous returns. For many, this was undoubtedly a highly attractive option.
In no time, people's interest in the Great Qin Money Shop grew stronger, and they secretly considered whether to deposit their money there. After all, such a good deal was not something that could be found everywhere.
Someone then asked, "If I deposit 100 taels for a five-year term, but need the money urgently in the first year and want to withdraw it, is that possible?"
Ying Wuyou smiled and said, "Of course you can. You can withdraw your money at any time. However, if the plan is to deposit for five years, and the original agreement stipulated five years, then if it is less than five years, the interest rate will not be calculated based on the five-year rate. If it is more than three years but less than five years, the interest rate will be calculated based on the three-year rate. If it is more than one year but less than three years, the interest rate will be calculated based on the one-year rate."
Everyone nodded in understanding.
Ying Wuyou looked around and then said, "There's another rule that everyone should know: people who take out loans cannot deposit money. It's not allowed for people to take out loans from our Daqin Bank and then deposit them in our Daqin Bank to make a profit from the difference."
Hearing this, everyone burst into laughter. Someone said, "You know, there might actually be such a person." Another replied, "You're right, I think there are such people too. Princess Jiayang is really clever; she already knew how to stop them." The others nodded in agreement.
Ying Wuyou then asked, "Does anyone else have any questions?"
At this moment, a thin girl asked, "Can I deposit money if I don't have a hundred taels?"
Ying Wuyou smiled and said, "Of course, but the interest will start from one hundred taels. If you deposit ten taels today and ninety taels tomorrow, you can start earning interest from tomorrow."
The little girl's eyes lit up when she heard Ying Wuyou's words.
Ying Wuyou then said, "If there are no problems, everyone can go in and handle their business. Remember to queue up."
Consequently, some bold and astute merchants took the lead, investing a portion of their wealth into the newly established Da Qin Money House, driven by dreams and hopes. After all, who wouldn't want to try such a lucrative opportunity?