News of the Liang army’s great victory on the south bank of the Fen River spread through the streets and alleys of Jinling City before the new year.

Prince Shou Yang Zhitang, who years ago had been rebuked by Grand Empress Dowager Changxin for rashly discussing secret communications with Eastern Liang and advocating war against the Liang army, under enormous pressure from court and public opinion, ultimately had no choice but to claim illness and resign from his position at the Bureau of Military Affairs. These past years he had remained at his residence convalescing.

Two years ago when news of the Liang army recovering Xingyang reached Jinling, voices emerged in court calling for Yang Zhitang’s reinstatement.

However, the court’s military forces had concentrated their strength these two years, successfully incorporating the various prefectures of Lingnan into Great Chu’s territory. The Left Wuxiang Army and Yongjia forces had also invaded Fujian last year, with only Jianzhou and Fuzhou yet to fall. Therefore, regarding the current situation, this was sufficient to prove that the earlier decision to accept submission and tribute to the Liang state had not been wrong.

Only the question of how to maintain relations between Liang and Chu thereafter saw diverse opinions.

Of course, when news of the Liang army’s great victory on the south bank of the Fen River reached Jinling, it didn’t cause particularly intense shock or panic in the hearts of the vast majority of Jianghuai subjects and citizens.

At least in terms of territory, the Liang army was still far from recovering its peak glory, while Great Chu, though losing Huaixi, Dengjun, and other places, had received sufficient compensation from the south.

In the eyes of most court officers and officials, they only awaited complete capture of Fujian to push Great Chu’s territory all the way to the southeastern coast, thoroughly controlling thousands of miles across Jiangnan, while also having one hundred thousand elite troops to deploy to the northern front for defense. They didn’t feel the Liang army could pose any threat to Great Chu at this time.

The outcome of the Zhiguan Pass campaign perhaps only made many people feel the Mongol army was nothing special after all.

However, when Shen Yang, Yang En, Du Chongtao, Huang Hua, and others heard news of the Liang army’s great victory at Zhiguan Pass, their hearts were full of worry.

Though the Chu army had seemingly achieved consecutive great victories on the southern front these years, annexing vast territories, which campaign could compare to any battle the Liang army had fought on the northern front in recent years in terms of danger?

The Zhiguan Pass campaign directly reversed the balance of power between the Liang and Mongol armies in the north. How could it not alarm people, how could it not cause worry, that Han Qian, commanding the Liang army, transitioned so rapidly from strategic defense to strategic offense, even achieving critical campaign victories?

Peddlers and laborers couldn’t see the difference here, but how could the insight of Shen Yang, Yang En, and others descend to the same level as peddlers and laborers?

During the Lantern Festival of the seventh year of Taihe, numerous magnificent and splendid lanterns hung throughout Chu Palace, filled with festive atmosphere.

Yang En entered the great hall where beast-headed censers scattered intoxicating incense smoke swirling and lingering. Rounding a screen, over a dozen palace maids and attending eunuchs stood quietly in the hall’s corners. Behind the tall imperial desk, a thin youth was frowning, reading through a memorial in his hands.

During the palace coup, that child like a startled bird who only knew to hide behind the Grand Empress Dowager of Changxin Palace—now at fourteen years old, he had already begun learning to read memorials. Between his brows and eyes, one could vaguely see the appearance of the late Emperor Yanyou.

Seeing the youth so diligent, Yang En felt greatly gratified.

“Marquis Liyang has arrived…” Zhang Ping bent forward, speaking softly to the overly focused youth.

“Oh,” the youth raised his head. His face, not yet free of childishness, revealed a stubbornness common among young people. He said to the attending eunuchs, “Grant the Minister of Internal Affairs a seat.”

Yang En, his temples frosted white these past two years, also felt his energy was insufficient, but with no successors in court, he still served as a clan minister controlling the Internal Service Bureau.

After the palace coup, Zhang Ping spent three years together with Jiang Huo guarding the imperial mausoleum.

However, after Han Qian inherited the position of Liang state lord, with the Liang-Chu peace agreement and Li Zhigao and Chai Jian surrendering to Liang, Lü Qingxia and Zhou Yuan being expelled from Liangzhou, and Wang Chan’er, Chen De, Prince Xiang Yang Lin, and others being sent back to Jinling for trial, many details of the palace coup had successively come to light.

When it came down to it, from the very beginning of Lü Qingxia’s palace coup, Han Qian had already noticed the signs.

Han Qian at that time believed that Changxin Palace gaining power would benefit him, so he utilized the hidden agents and informants he had deployed over the years in the inner court and outer court to do everything possible to push for the eldest imperial prince’s eventual succession.

In this process, whether Zhang Ping, Jiang Huo, or even the Grand Empress Dowager of Changxin Palace at that time, or even deposed Empress Li Yao, were all merely pieces on Han Qian’s chessboard.

However, when the whole affair was laid bare, one couldn’t say that regarding Emperor Yanyou’s death, Han Qian was the chief culprit, much less say that Zhang Ping, Jiang Huo, or even the Grand Empress Dowager of Changxin Palace colluded with Han Qian.

Not only Yang En, but even Shen Yang, Du Chongtao, Yang Zhitang, Huang Hua, and others all believed that though Zhang Ping and Jiang Huo were on good terms with Han Qian and agreed with Han Qian on many matters and concepts, they remained loyal to Emperor Yanyou and loyal to the Chu court.

Han Qian was now Lord of Liang, while Jiang Huo and Zhang Ping remained Chu ministers throughout.

Jiang Huo was advanced in years. Ultimately, at Shen Yang and Yang En’s request, the Grand Empress Dowager of Changxin two years ago personally intervened to invite Zhang Ping back to serve in Chu Palace’s Internal Service Bureau, taking a position as Attendant of the Chongwen Hall beside the new emperor.

“Runzhou Provincial Governor Zhang Xian’s memorial mentions that the prefecture’s people prefer using Taihe Tongbao. Prime Minister Shen has drafted regulations ordering all prefectures and counties to strictly prohibit it,” the youth said. “Initially I was also somewhat puzzled, thinking that if people find it convenient, why prohibit it? Zhang Ping said that when the Liang state minted Taihe Tongbao, they used only half the copper of Great Chu’s currency. This means that every time Chu territory people use one Taihe Tongbao, they actually let the Liang state take away four or five coins’ worth. Only then did I somewhat understand the subtleties of minting currency. I called you here because I want to know whether the Treasury Bureau can mint the same currency to supply prefectures and counties?”

“The Treasury Bureau minting currency identical to Taihe Tongbao poses no great problem. It’s just that our casting techniques don’t match the Liang state’s, resulting in using less copper material but more labor. When calculated, one copper yuan’s cost still uses up eight or nine coins’ worth, actually differing little from maintaining old currency,” Yang En reported. “Speaking of currency systems, the most critical problem is that local private minting is difficult to prohibit, causing inferior coins to flood the market. Privately minted currency is crude and unbearable, which is why prefectures and counties prefer using Taihe Tongbao. If Great Chu could strictly prohibit private minting, with Treasury Bureau official currency having sufficient copper and no shortages, the people couldn’t possibly abandon the essential for the trivial…”

Though the new emperor hadn’t yet reached the age for personal rule, Yang En and Zhang Ping both did their utmost to teach him everything they knew about practical governance.

The Taihe Tongbao matter had given ministers of the Political Affairs Hall extreme headaches these past two years. Shen Yang had consistently demanded prefectures and counties strictly prohibit it, but the actual effect could only be called treating symptoms without addressing the root cause.

Trade points between Liang and Chu were too numerous to prevent merchants and travelers from carrying Liang copper yuan back and forth. Within Chu territory, private minting ran rampant. If private coins couldn’t be prohibited, how could Liang copper yuan circulation in Chu territory be prohibited?

Speaking of prohibiting the striking of private coins, this wasn’t an easy matter.

When it came down to it, local powers were too strong. Behind local private minting stood the shadows of rural magnates and aristocratic clans.

Large quantities of privately minted inferior coins flooded prefectures and counties. Inferior coins depreciated too severely on the market, which ultimately led to Taihe Tongbao being extremely convenient for popular use within Great Chu’s territory.

There was another reason—the Treasury Bureau only minted one million strings of cash annually, insufficient for popular use. Even a considerable portion of currency released to prefectures and counties was directly collected by local rural magnates and aristocratic clans, mixed with tin and iron to cast inferior coins for profit. Increasingly prosperous commerce objectively required large quantities of private coins as supplement.

It wasn’t that the Treasury Bureau didn’t want to mint more currency, but copper mining, smelting, and casting costs were extremely high. Using old methods for minting was unprofitable, so up and down the line no one cared to advance this matter. Even when the Political Affairs Hall issued orders, they could find thousands of reasons to delay.

Of course, through various trade points, the Liang state flowing large quantities of Taihe Tongbao into Chu territory didn’t profit as exaggeratedly as Zhang Ping claimed.

According to reports from various localities, initially flowing into Chu territory, approximately one thousand six hundred to one thousand eight hundred Taihe Tongbao exchanged for one tael of gold, which was only slightly higher than Chu territory’s current copper market price.

Of course, this was more likely deliberately done by the Liang state’s Left Interior Ministry.

Only what intentions Han Qian and the Liang state’s Left Interior Ministry hid behind this, what connections existed between the currency system the Liang state practiced and pricing of goods within Liang territory and the so-called gold and silver standard of the Liang state’s Official Money Bureau—Yang En still hadn’t figured out the full flavor of it all.

When Taihe Tongbao mixed with Chu court Treasury Bureau currency and numerous private coins in various prefectures and counties, Taihe Tongbao’s exquisite minting and stable quality rapidly won welcome from people in prefectures and counties along the river. Compared to copper and gold market prices, it rose quickly, currently maintaining at approximately one thousand three hundred Taihe Tongbao exchanging for one tael of gold.

But even so, each year large quantities of copper, gold, and silver from Chu territory flowed toward the Liang state.

This was a problem that had troubled Yang En and Shen Yang for a long time, yet they had no way to resolve it.

And this was merely one problem in a series. Major Liang state commodities flowing into Chu territory at extremely low prices was even more troublesome.

In iron goods alone, statistics from the fifth year of Taihe showed transaction volume at various trade points breaking through six million jin. Counting smuggled imports, it should exceed ten million jin. Yet not only was Liang state iron of excellent quality, but iron goods of equal quality sold at prices forty to fifty percent lower than iron goods produced in Chu territory, difficult to restrict through normal means.

Not to mention privately operated smelting workshops and mines—aside from casting military armor, the iron smelting facilities under the Treasury Bureau and Directorate of Construction couldn’t sell iron materials to prefectures and counties, falling into unsustainable straits in recent years.

Currently it appeared the Liang state still paid one million strings of tribute annually to Great Chu, but because Chu territory’s iron industry was depressed, the Iron Transport Commissioner lost over five hundred thousand strings in iron taxes alone.

Though after the Xingyang campaign, he and Shen Yang discussed wanting to restrict Liang state goods from entering, helplessly, within Chu territory, local powers in prefectures and counties along the river participating in Chu-Liang commodity trade profited richly. This matter had dragged on two years with court and public opinion in dispute, without any progress whatsoever.

Though at this time Great Chu seemed to be consecutively achieving great victories in the south, capturing cities and seizing territory with national power unmatched for a time, Yang En and Shen Yang knew clearly in their hearts how great the difference was between these military achievements and the Liang army’s great victory at Zhiguan Pass.

Currently they could only see whether they could successfully capture Jianzhou and Fuzhou this year, bringing all of Fujian into Great Chu’s territory. If everything went smoothly, perhaps this year they could raise again the matter of restricting Liang state goods from entering.

Though the new emperor hadn’t yet personally ruled, Yang En still carefully explained all the complexities to him, solely hoping that after his personal rule began, he would know which were truly the foundations of the state and people.

“Everyone says Great Chu has peace and tranquility, outstanding people and spiritual lands. Could it be that even a small copper coin cannot match insignificant Liang territory?” The youth questioned indignantly and dissatisfied.

Yang En was speechless, could only request punishment saying, “This old minister is incompetent…”

“Bin’er, what are you discussing with the Marquis, looking so unhappy?” Qing Yang entered the great hall and asked.

“Mother Empress had me study memorials. Your child had many puzzling points and summoned the Minister of Internal Affairs and Zhang Ping to inquire,” the youth said. “This Han Qian is truly detestable—openly submitting to Great Chu, but actually attaching to Great Chu’s body to suck blood. Once Huang Hua and Gu Zhilong capture Fujian, Great Chu must give the Liang state a lesson.”

Qing Yang’s elegant brows furrowed slightly. She only said, “Bin’er studying diligently is proper, but you must also sympathize that the Marquis and Minister Zhang must be weary at this late hour. To be a good ruler, you cannot fail to sympathize with your ministers. Whatever matters there are can wait until tomorrow to ask. You should also go rest earlier.”

“Prime Minister Shen says the Liang army seized great victory at Zhiguan Pass and will soon be able to capture Guanzhong, at which time they will certainly be Great Chu’s formidable enemy. Yet the Liang army’s situation has formed. The alliance treaty cannot be lightly abandoned. Great Chu’s upper and lower ranks must unite with one heart, only then will they not be threatened by the Liang army,” the youth said quite persistently. “Your child also deeply feels time is pressing, with far too many places requiring study…”

“One cannot become fat in a single bite. Could it be that if today is delayed, Great Chu’s realm will perish?” Qing Yang asked with furrowed elegant brows, slightly displeased.

“Reflecting during leisure allows thorough understanding. If Your Majesty wishes to learn military and political governance to strengthen ancestral enterprise, there’s no need to rush for a moment. You still must rest well and have a strong physique,” Yang En said.

“Very well, then your child will go rest first.” The youth placed the memorial back on the imperial desk, took leave of Qing Yang, and walked toward the sleeping quarters in back accompanied by over a dozen attending eunuchs and palace maids.

Qing Yang picked up the memorial to look at it, saying, “Prime Minister Shen’s wording grows increasingly severe. Can localities truly prohibit it?”

“Difficult,” Yang En replied.

Qing Yang didn’t say much more, just had Yang En and Zhang Ping take their leave. She sat behind the imperial desk, carefully reading the draft recommendation Shen Yang appended to the memorial. After a while she asked Lei Cheng, who followed behind her like a shadow:

“Han Qian in this campaign severely damaged the Mongol army’s vitality and captured Pu, Jin, and other places. Next he’ll probably truly be as Shen Yang says—quickly deploy troops to recover Guanzhong, won’t he? Now Bin’er is somewhat impatient with this widow’s words, yet listens and obeys Yang En completely. The things Yang En and Zhang Ping usually teach Bin’er haven’t gone too far astray, have they?”

“Your Majesty is Chu’s ruler. Yang En and Zhang Ping are Chu ministers. What they say, think, and worry about is all completely correct,” Lei Cheng said. “This old servant’s energy these past two years has been insufficient. I fear I can no longer serve at the Grand Empress Dowager’s side…”

What could he say?

When Emperor Yanyou was assassinated, the new emperor had already reached the age of remembering events. As his age gradually increased, he necessarily had his own thoughts about old matters.

Even not mentioning Yang En and Shen Yang’s influence, the new emperor possessed the young nature of a newborn calf unafraid of tigers, gradually feeling dissatisfied with the appeasement and conciliation strategies adopted these years. In Lei Cheng’s view, this wasn’t any unexpected matter.

These past years, under Shen Yang and others’ governance, they still adopted many measures suppressing rural magnates and aristocratic clans, vigorously rewarding agriculture, building roads and waterworks, giving military and civilians rest and recuperation. Population grew, and national strength also received considerable improvement.

Though Zheng Hui, Huang Hua, Gu Zhilong, and others recovering Lingnan and Fujian fundamentally couldn’t be compared with the arduous and outstanding battles the Great Liang forces had experienced these years, it allowed the court’s young faction power to grow. Voices for recovering Huaixi, Dengjun, and other places again showed signs of emerging.

Earlier, Shen Yang, Yang En, Du Chongtao, Zhou Bingwu, and others, proceeding from the overall situation, still worried that all of Hehuai falling into Mongol hands would endanger Jianghuai. But the Zhiguan Pass great victory directly reversed the power balance between Liang and Mongols. With the Great Liang army on the verge of recovering Guanzhong, the attitudes of Shen Yang, Yang En, Du Chongtao, Zhou Bingwu, and others naturally reversed accordingly.

Liang and Chu ultimately were not one state.

Whether Yang En, Zhang Ping, Shen Yang, Du Chongtao, or Zhou Bingwu—as Chu ministers, once they merged their voices with the court’s young faction, Liang-Chu relations would inevitably face severe tests.

All this wasn’t even something the Grand Empress Dowager of Changxin could change.

Currently most critical was still to see whether the Chu army recovered Fujian first, or Great Liang recovered Guanzhong first…

If Great Liang recovered Guanzhong first, after the western flank had no worries, they could free up large quantities of elite troops for defense in other directions. The harmonious relations between Liang and Chu should still have the possibility of continuing. But if Gu Zhilong and Huang Hua first captured all of Fujian, while at that time the Liang army’s main forces were still mired in Guanzhong, it would be hard to guarantee Shen Yang, Du Chongtao, Zhou Bingwu, and others wouldn’t have thoughts of striking first to gain the advantage.

Lei Cheng believed the Grand Empress Dowager of Changxin had long since considered all this. Now was also the time when he and Cai Chen should withdraw from the Grand Empress Dowager of Changxin’s side.

“You and Cai Chen both want to request retirement now. What, are you certain the Liang and Chu states will definitely come to blows?” Qing Yang stared at Lei Cheng in vexation.

“…” Lei Cheng pondered a moment before saying, “His Majesty wants us to retire but also remain in Jinling for our old age. He absolutely won’t make things difficult for the Grand Empress Dowager.”

“This widow isn’t afraid. What are you afraid of? Even if you die, you must die in this palace,” Qing Yang said ethereally. “In another two or three years, Bin’er will personally rule. Military and state affairs will all be decided by Bin’er and his ministers. At that time, whether the Liang state makes peace or kills until corpses lie everywhere, this widow is but a woman of the inner chambers, dwelling deep in palace prohibitions with no authority to interfere, and nothing to worry about…”

“Yes.” Lei Cheng responded once, thinking that even if the Grand Empress Dowager of Changxin fought down Prince Shou Yang Zhitang and severely suppressed Shen Yang’s arrogance, military and political affairs were still controlled by Shen Yang, Yang En, Du Chongtao, Zhou Bingwu, Zheng Yu, Zhang Chao, and others. Perhaps she had already anticipated this moment?

“So you’re saying Han Qian this year will truly follow up immediately by deploying troops to capture Guanzhong?” Qing Yang exhaled, then stared at Lei Cheng asking.

Lei Cheng neither nodded in acknowledgment nor shook his head in denial.

Qing Yang waved her hand, having Lei Cheng withdraw to rest first. She had palace maids extinguish the candles and lamps in the great hall, opening the hall doors to let moonlight like water spread across the polished smooth stone floor. From the hazy moonlight, she seemed to see her former self dressed in men’s clothing, walking through the mountains and waters of southern Hunan…