On the night of the twenty-seventh day of the eleventh month in the twenty-third year of Shun’an, the gates of the Xiao family mansion opened. Xiao Chen and Xiao Bixing bound themselves and emerged, escorted by three thousand soldiers to the Ministry of Justice prison. The Emperor ordered a joint trial by the Three Judicial Offices.

When the news spread, the court and countryside were shaken.

Therefore, few people noticed that the Crown Princess issued an unprecedented decree to the Xiao mansion, rebuking Prince Zhao’s consort for being an imperial daughter-in-law yet not accompanying Prince Zhao and his son to guard the imperial mausoleum. She was ordered to be immediately escorted to the imperial mausoleum without needing to enter the palace to apologize.

All the women of the Xiao mansion knelt to receive the Crown Princess’s decree. The Xiao Old Dowager, who had already prepared carriages and horses to send Xiao Wenliu to the palace, had to abandon her plan.

On the twenty-ninth day of the eleventh month in the twenty-third year of Shun’an, the Ministry of Revenue and Ministry of Rites hosted this year’s imperial merchant bidding in the capital. The targets included cargo transport rights for several major ports this year, wine business operating rights in the capital, official land sales and tenant farming, salt and iron monopoly trading licenses, palace and six ministries procurement of fabrics, utensils, paper and ink, as well as bridges, lakes, and commercial taxes throughout the realm… various items, too numerous to list.

At this unprecedented scale merchant gathering, there was the wine industry that capital grain merchants competed fiercely for, fertile official lands that the largest fabric merchants were determined to win, and salt taxes and silver taxes affecting social stability that numerous wealthy merchants fought over. During the bidding process, prices kept rising higher and higher, far exceeding previous years. Some people withdrew, while others persisted. When prepared silver wasn’t enough, stewards from the capital’s three major banks stood ready on site. Promissory notes flew like snowflakes until finally, even the three major banks’ financial capacity couldn’t support it. Wanqian Bank, which had recently entered the capital’s commercial circles and was still viewed with wariness by everyone, became everyone’s final lifeline.

Wanqian Bank indeed lived up to its bold name, treating gold like iron and silver like dirt, issuing bank notes lavishly in amounts that were simply staggering. But the issued bank notes still required collateral, and at this point, those major merchants could only mortgage their family properties and shares in family enterprises.

During this bidding, only a few people knew that while the capital’s people remained immersed in court political turmoil, only a few knew that during those days, the Crown Princess barely slept at all. Ruixiang Hall and all officials of the Crown Princess faction constantly watched that smokeless battlefield from afar.

Three days later, the bidding concluded, all deposits were submitted, the dust settled, and Tie Ci, who had been waiting for news in Ruixiang Hall, imperceptibly breathed a sigh of relief.

Chi Xue looked with distress at the Crown Princess’s reddened eyes from staying awake and gently advised her to sleep for a while. Tie Ci agreed, and as she lay down, she thought that Murong Yi must be even more exhausted these past few days. After all, the entire bidding was conducted behind the scenes by him – he was both buyer and banker, having to match wits with many shrewd wealthy merchants, constantly monitoring everyone’s movements, gathering intelligence from within each family, laying groundwork early, planting agents in every target family. Some preparations had even begun at the year’s start… The mental and physical exhaustion involved was unimaginable.

With the Xiao family’s final and most important support pulled out and the last nail planted, they could finally breathe easier afterward. It had been almost a month since they’d met – she should summon him to the palace and properly reward him…

As if she entered dreams the moment she closed her eyes, but she couldn’t see clearly what was in the dream – only vast expanses of red. She seemed to be running, crossing layer upon layer of curtains, yet ahead was always chaos. Suddenly a flash of lightning swept across the sky like a sword, shooting from distance to distance, while beneath her feet bloomed brilliant, tumbling flowers. Someone was crying softly and helplessly, someone’s black cloak flew in rolling wind and snow, someone parted the clouds to look down with a sinister smile, while she looked up to see only the sky crashing down…

She suddenly opened her eyes.

The entire hall was silent, curtains hanging deep, all lights extinguished, while her heart beat like drums and she was drenched in sweat.

She knew she’d had a nightmare.

But this nightmare, the moment she opened her eyes, faded like night mist meeting morning sun.

Only her drumbeat heart told her a nightmare had visited.

Tie Ci sat up and was dazed for a while.

Perhaps it was due to being too exhausted and busy these days.

She suddenly remembered that Duanmu still hadn’t appeared, which was very strange. He was quite eager to learn about his old friend’s whereabouts and should have arrived in the capital even earlier than she did, yet why hadn’t he appeared all this time? Was he detained by something?

However, with the Xiao family’s defeat imminent and the palace prohibition entirely under her control, no matter how strong Sang Tang’s martial abilities, she and Pingzong working together could still fight him. She wasn’t particularly afraid of whatever the Empress Dowager might do.

Tie Ci didn’t fall asleep again that night, reading memorials until dawn.

After daybreak came news that Tianyuan, the capital’s largest bank, suffered a run by crowds and was severely damaged overnight.

It was said that Tianyuan Bank had attempted military speculation, secretly forming an agreement with a general stationed at the nine frontier fortresses. Tianyuan Bank would assist with his military expenses and grain supplies to expand his army and achieve victory in the war against Dayan. In return, after victory, he would provide Tianyuan Bank with the help they needed.

Few people knew that behind Tianyuan Bank was the Xiao family.

After Xiao Chang was killed, Xiao Bi’an committed suicide, Xiao Xueya refused summons, and the military forces operating in the capital were gradually eliminated, the Xiao family’s military influence rapidly weakened, inevitably creating a sense of panic. In this situation, an olive branch extended by a powerful general from the nine frontiers was particularly attractive.

But the Xiao family didn’t know that the so-called nine frontier general was merely Di Yiwei’s disguise. The Yongping Military Commissioner had served in the army for years, guarding the frontier for half his life, and had deep relationships with these nine frontier generals. Creating some false appearances was simple.

The silver that Tianyuan Bank continuously sent went into Di Yiwei’s pocket, then flowed into Tie Ci’s hands, finally becoming the monetary weapon she used against the Xiao family.

The powerful military authority they anticipated, which could turn the tide and help the Xiao family reverse their fortunes, was nothing but an illusion after a deception.

Subsequently, Murong Yi spread news of Tianyuan Bank’s deficit, triggering a run.

The massive entity collapsed with a thunderous crash.

All in the span of a day and night.

When He Zi first saw this plan, he let out a long sigh of amazement in his heart.

…This really was quite unscrupulous.

Another bank still had myriad connections with the Xiao family. These two major banks were originally one of the reasons the Xiao family dared threaten Tie Ci.

This one was attracted by the enormous profits from current Western instruments and spent heavily to purchase a large batch of Western clocks and instruments.

Who knew that during the sea crossing, the ships encountered whirlpools. After struggling to escape, the clocks malfunctioned, resulting in a significant loss.

Another ship carried bone china newly developed by the West. Great Qian had fine porcelain, and Great Qian’s ceramics sold overseas had always been favored by nobles. Because the West had also developed this bone china, which looked finer, whiter, and more delicate, that wealthy merchant believed such porcelain would surely cause competition among wealthy families in Great Qian, so he spent enormous sums to transport a shipload of bone china.

His luck was good – no wind, no waves. Upon reaching the capital, through several tea gatherings and poetry meetings in princely households, it indeed quickly became fashionable, worth a thousand gold per piece.

But just when sales were at their peak, a careless remark by an overseas missionary caused an uproar.

He said bone china was made from cremated ashes.

For a nation that extremely respected death and the deceased, the power of these words was evident.

That day, the sound of smashing porcelain was endless in countless wealthy households.

Bone china immediately became unsaleable and triggered massive compensation claims.

The merchant who couldn’t bear the compensation threw himself into the river, and the bank behind him suffered severe losses.

As for those buying land, they had previously purchased a plot near a key route to the capital. The official land offered this time was adjacent to that plot. If they could acquire it and connect the two, there would be several secret and safe roads between them. Occupying this land would provide the possibility of overlooking and quickly escaping through the capital’s main camp.

Such hidden temptation might mean nothing to others, but for the Xiao family in precarious circumstances, it was no less than a lifeline.

That was something they had to acquire regardless of cost.

Besides this, there was also tax collection procurement. Having the authority to collect commercial taxes would bring countless conveniences – that too couldn’t be abandoned.

The tighter they were pressed, the more they desired. The more they desired, the more they wanted to grasp.

The more they desperately tried to grasp, the more they threw away, and the lower their risk tolerance became.

When ten fingers tried to grab too much, the consequence might be grasping nothing at all.

Economic collapses are all chain reactions. Those high towers took a thousand days to rise, but their destruction was but an instant.

After the two major banks went bankrupt, several wealthy merchant families in the capital controlling grain, fabric, cotton, water supply, transportation, and other essential economic matters changed hands one after another.

Some were taken over by outside wealthy merchants holding high stakes, some saw inconspicuous younger sons rise unexpectedly to power, others directly experienced internal chaos and were seized by allied stewards.

This other war that saw no blood but carried even more deadly intent was entirely planned, arranged, and implemented by Murong Yi single-handedly.

In handling the Xiao family affairs, Tie Ci didn’t share plans. Court matters were entrusted to He Zi; military encirclement, ambush, blockade, and troop arrangements were given to Di Yiwei; winning the commercial war to prevent the Xiao family from strangling economic lifelines and disrupting the capital’s livelihood was entirely delegated to Murong Yi.

All three were people she trusted most. They operated independently without knowing each other’s plans and methods.

Only Tie Ci sat in command at Ruixiang Hall, overseeing the entire situation as the chess player.

This approach had advantages and disadvantages – relatively safe, effortless, and with fewer loopholes, but mutual ignorance of plans could easily lead to one link failing to connect and all previous efforts being wasted. However, it was the strongest test of the leader’s ability and control.

In this encirclement, the most important, most complex and precise, most time-consuming, labor-intensive, and expensive, and most unpredictably turbulent part was the commercial control.

It was also the most inconspicuous.

He Zi and others only roughly figured out the entire plan after the commercial war ended, and they were amazed by the executor.

They also developed a sense of awe.

He Zi carefully reviewed those case files through the night. At dawn, he said to Zhu Yi, whose eyes were equally red from staying awake: “I have two things to instruct you.”

“This disciple listens respectfully.”

“You must remember that Her Highness is not one who can be deceived. Forget your former status as a teacher and respect her forever as you respect me.”

“Yes.”

“You must also remember that Murong Yi has the makings of an ambitious hero. That he can serve as a minister under the Crown Princess for life is Great Qian’s fortune. But should there come a day when he harbors rebellious thoughts, or even shows slight rebellious intent, then regardless of Her Highness’s attitude, regardless of how many rare books you’ve received from Murong Yi, you must kill him immediately.”

“…Master! You just said to respect Her Highness and not disobey!”

“Only in this one matter.”

“…Master.”

“Even if the Crown Princess opposes, even if there are countless obstacles, even if it means your complete destruction.” He Zi said, “Those who achieve merit gain temporary glory, those who maintain integrity achieve eternal accomplishment. When ministers die for loyalty and righteousness, think not of honor or disgrace!”

“…Yes.”