Gu Pingyuan and Old Master Hu arrived at the Governor’s residence in high spirits, waiting for an audience with Zeng Guofan. Chen Qitai was truly loyal – upon hearing that Gu Pingyuan urgently needed cash, he pawned all the goods stored in the Dongting merchant guild’s warehouse to Ningshao merchants at seventy-five percent of their value, helping to quickly gather a large sum of silver for his sworn brother. After Gu Pingyuan returned, Secretary Hao, who had gone to Shanghai, also returned to Jiangning around the same time. His mission was to investigate the background of Jardine Matheson & Co. – what Gu Pingyuan called “knowing yourself and your enemy.”

This time, Jardine Matheson planned to monopolize the Lianghuai salt fields, making merchants from various countries nervous and anxious, all wanting to secretly create obstacles to make Jardine Matheson return in defeat. Secretary Hao successfully obtained a stack of import and export manifests collected by various firms, and together with several skilled accountants, shut themselves away for two or three days to figure out about eighty to ninety percent of Jardine Matheson’s financial situation.

“Good heavens! It turns out half their silver is tied up in goods, and the goods can’t be converted to cash. Banks and money houses refuse to lend to them – they’re basically out of tricks. As for us, we worried for nothing. We didn’t even need to seek out Chen Qitai – with the silver we have on hand, we’re guaranteed to win!” Secretary Hao thumped his chest in assurance. “Even if I missed some accounts, the difference would be at most ten to twenty percent, which absolutely won’t affect the big picture.”

Others were beaming with joy, but Gu Pingyuan remained cautious. He worried that Li Qin might take desperate measures, so he had Manager Peng temporarily suspend business operations and paid to hire people from the canal transport guild and naval forces to stand guard and patrol around Shunde Tea House. For a time, the security at this tea house was no less stringent than at the Governor’s office. Unless the foreigners really came with gunboats, the huge sum stored inside was as secure as Mount Tai.

Having made these arrangements, Gu Pingyuan finally felt somewhat at ease, waiting for the appointed day when they would “flip the cards and stare each other down,” comparing who had the bigger hand to see who would win or lose.

As for Qiao Henian’s situation, Secretary Hao advocated reporting him to Zeng Guofan, preferably getting him dismissed from office to prevent future trouble from within. Gu Pingyuan was ultimately kind-hearted, and he said: “This is like the matter of mixing opium into salt – it’s all without evidence, and if he doesn’t admit it, you have no recourse. He’s different from Li Qin. If we can avoid breaking relations, let’s maintain the status quo. If we really push him to desperation, who knows what tricks he might use against us.” Secretary Hao had no choice but to drop the matter.

Who would have thought that instead of them seeking out Zeng Guofan, Zeng Guofan sent someone to find them, specifically requesting Gu Pingyuan and Old Master Hu to come to the Governor’s office for a discussion.

“Governor Zeng must also be unsure in his heart. Let’s tell him about both sides’ financial situations so he can also set his mind at rest.” With one foot stepping into the office entrance, Old Master Hu was still laughing and talking cheerfully. But after they were seated and served tea, when the grim-faced Zeng Guofan opened his mouth, both Gu and Hu felt as if they’d been struck by a heavy blow to the head. They not only stared in shock but sat rigidly, staring dumbly at Zeng Guofan’s terrible mouth, unable to move at all.

Just three days ago, the Jiangning Governor’s office received an express courier from the capital. The Grand Council had sent an urgent imperial edict informing them of a shocking fact – the British government demanded that the Qing court immediately repay the indemnities owed from the two Opium Wars, totaling seventeen million taels of silver including principal and interest.

Over twenty years, the British had used their superior ships and cannon to sign two indemnity treaties with the court in Jiangning and Beijing respectively – the first for twenty-one million taels, the second for eight million taels. This money was originally agreed to be deducted annually from maritime customs revenues, with interest calculated, until fully repaid. But unexpectedly, the British government suddenly notified the Qing court, demanding in an uncompromising tone that this sum be paid in full at once, or face the consequences.

The Qing dynasty had been beset by internal and external troubles in recent years, impoverished and weakened. The Grand Council and Ministry of Revenue had barely managed to save up over ten million taels when they suddenly learned the British were demanding repayment – it was like being struck by five thunderbolts, and even emptying the treasury wouldn’t be enough! Facing the tough-minded British minister, the Zongli Yamen exhausted all diplomatic niceties, practically bowing and begging him to come verify the accounts in person.

“After much arguing back and forth, we got this result – that ten million taels will be paid as demanded, and the remaining seven million taels will be raised by the Liangjiang office by collecting three years’ worth of taxes in advance from merchant houses throughout the region.” Zeng Guofan said.

Gu Pingyuan trembled upon hearing this, slowly raising his head to look at Zeng Guofan: “If this commoner guesses correctly, this sudden turn of events must be related to Jardine Matheson & Co.”

“Correct. After this money is gathered, it will be handed over to Jardine Matheson for ‘safekeeping’ under the witness of the British consul in Shanghai – which is essentially an interest-free loan from the British government to Jardine Matheson.”

“Impossible! The court must have been deceived. In such a short time, how could that taipan John have had time to return to Britain to request an imperial edict?” Gu Pingyuan almost cried out.

“Master Gu, you need not doubt it – it’s true. We’ve been outmaneuvered and ultimately lost to the foreigners.” Secretary Xue’s voice was muffled and listless. “I… I don’t understand.” Gu Pingyuan was so shocked he began to stutter, looking at Secretary Xue with questioning eyes.

“Telegraph. I only heard about this thing last year, never imagining we’d suffer from it so quickly.” Secretary Xue briefly explained what a telegraph was, though he couldn’t understand how it could instantly connect across thousands of miles. “Last year the British requested permission to extend telegraph lines into the Qing territories. How could our Qing dynasty allow foreigners’ thousand-mile eyes and favorable-wind ears to be set up in our own home? We naturally rejected the request immediately. But I heard that across the sea in Japan, there’s a city called Yokohama that’s connected by telegraph to India, and India has telegraph lines connected to Britain. This time they communicated by taking a ship from Shanghai to Yokohama, then using the telegraph to send messages.”

This seemed like something from the Arabian Nights, or like fairy tales he’d heard as a child. Gu Pingyuan bit his tongue to make sure he wasn’t dreaming. After a long while, he said indignantly: “Even so, the matter of foreign merchants competing to buy the Lianghuai salt fields was something Governor Zeng had already memorialized to the throne. The Grand Council ministers all knew about it – how could they not know the conspiracy behind this and so lightly agree to the foreigners’ demands? I truly don’t understand. Since the matter of repaying indemnities annually through customs revenues was already settled and had been implemented for over ten years, with contracts on both sides, how could the foreigners just tear up the agreement without a word, and why was the court so weak as not to dare argue based on principle?”

Gu Pingyuan became more agitated as he spoke, stood up with arms spread wide, faced Zeng Guofan and said through gritted teeth: “Doesn’t this court action amount to handing over the Lianghuai salt fields on a silver platter? Doesn’t it amount to abandoning its own people and disregarding their livelihoods? Doesn’t it amount to stabbing Qing merchants viciously in the back? What use is such a court!”

Zeng Guofan looked into Gu Pingyuan’s grief-stricken and indignant eyes. Throughout his life he had never avoided anyone’s gaze, even when facing the supreme emperor, but today he had to look away. Zeng Guofan had been an official for decades, with protégés and former subordinates in all six ministries in the capital. At this moment he thought of a letter from the capital describing a court debate that day.

“Sixth Prince, I really don’t understand – one letter from the foreigners and we have to empty the national treasury? This Qing dynasty is really too contemptible.” Speaking coldly from behind the screen was none other than the current Empress Dowager – the Holy Mother Empress Dowager Cixi.

Prince Gong’s face reddened at her words, and before he could respond, the other Empress Dowager Cixi behind the screen spoke first: “Sister, don’t blame the Sixth Prince. He has his difficulties, and the Zongli Yamen is famous for being caught in the middle. The foreigners are foreigners after all, and they’re British at that – they’re not easy to deal with.”

“But we can’t just not dare say a single word of opposition and let the foreigners treat the Qing Ministry of Revenue like their own personal bank.” Empress Dowager Cixi replied neither softly nor harshly.

“Who knows what the foreigners suddenly want such a large sum for? Wasn’t it agreed long ago to pay annually in installments? Why doesn’t that count anymore?” Cixi pressed relentlessly.

Prince Gong frowned – this was exactly what he least wanted the palace to ask about. It would be best if everyone above and below just played dumb together, but since this famously shrewd Western Empress Dowager had asked, he had to answer clearly. He glanced toward the court officials, signaling Baojun, who managed the Ministry of Revenue, to respond.

“In response to the Empress Dowager, the foreigners are currently in Liangjiang competing with our merchants to buy the operating rights to the Lianghuai salt fields. They needed silver so they set their sights on this.” Baojun explained and briefly recounted the whole affair.

“I see. So the foreigners are using Qing silver to fight Qing merchants, then buying up Qing’s lifeblood…” Empress Dowager Cixi said half a sentence, then fell silent for a long while. Her silence created a nameless pressure that even the young Emperor Tongzhi on the dragon throne could feel – he wanted to cry but didn’t dare, looking at the civil and military officials before him with some terror.

“Enough, court is dismissed.”

The ministers had been eagerly awaiting these words, their clothes soaked with sweat, and they felt as if granted amnesty. Just as they were about to bow, they heard heavy sighs from behind the screen: “If state affairs continue to be handled this way, we two sisters will truly have no face to meet the late emperor in the afterlife.”

Anyone who could stand in the court had thoroughly studied the Four Books and Five Classics – who didn’t know the principle that “when the ruler is worried, ministers are disgraced; when the ruler is disgraced, ministers die”? Upon hearing these words, they couldn’t even bother with their horsehoof sleeves and immediately all knelt down kowtowing, each feeling as if their faces were burning with fever.

“Alas!” Thinking of that day’s court scene, Zeng Guofan’s own face couldn’t help but burn with sympathetic shame – this humiliation was felt by every Qing official.

“This governor knows you’ve been wronged. But right now we can only yield and compromise. That ‘face the consequences’ at the end of their note – these ‘consequences’ are truly unbearable, and the court can’t be blamed.” No one understood better than Zeng Guofan that British gunboats weren’t for show – if they used this as an excuse to send troops again, the Qing’s losses would far exceed the Lianghuai salt fields.

“So that’s it?!” Gu Pingyuan said incredulously.

“We can only let it be. It looks like the Lianghuai salt fields will definitely fall into British hands.” Zeng Guofan sighed.

“Oh…” As soon as he finished speaking, they heard an unclear cry from nearby. Gu Pingyuan turned to look and saw Old Master Hu sitting there with wide, staring eyes, his hands and feet trembling strangely, his throat making “gurgling” phlegm sounds, his mouth twisted and eyes askew, his face red as fire. “It’s a stroke!” Secretary Xue, who knew medicine, immediately shouted.

Gu Pingyuan rushed over in two steps to support Old Master Hu who was about to slide down. Looking at the old man’s face, he saw only two large tears slowly rolling down that weathered, wrinkled countenance.

When Gu Pingyuan emerged from the room, the people who had been waiting anxiously crowded around him, looking at him with worried eyes.

“The doctor said: do what humans can, leave the rest to heaven’s will.”

Everyone fell silent, some looking distressed, some shedding tears. Old Master Hu had devoted his life’s heart and soul to business. In his old age, when he could have enjoyed his twilight years in peace, he had fought for the dignity of Qing merchants only to end up like this.

“The old master’s one functioning hand first grabbed onto me and wouldn’t let go, then pointed at his own heart, and those eyes just stared straight at me…” Gu Pingyuan couldn’t continue, slowly exhaling to steady his breathing.

In the following days, merchant colleagues continuously came to Shunde Tea House to visit Old Master Hu, and this news also spread far and wide with the merchants’ carriages and horses. Lord Hou Er, upon hearing the news, also hurried from Huizhou.

Actually, these so-called visits were just brief inquiries at the bedside. Old Master Hu’s condition worsened daily – he had few lucid moments each day and was clearly just counting down his remaining time. The Hu family had even transported the prepared ebony coffin from Huizhou by waterway, preparing for the “great event.”

“Master Gu, could we find a quiet place to speak privately?” The managers of the Four Great Heng banks had all come together to see this ailing senior figure of the merchant world. They now felt both grateful to and admiring of Gu Pingyuan – if not for his idea, the Four Great Heng would have collapsed along with the Li family, dragging down numerous Beijing merchants who would have had to close their doors. This one good deed by Gu Pingyuan had saved countless families from ruin – such merit was immeasurable.

Gu Pingyuan didn’t take credit for himself. Seeing their courtesy, he became even more modest, leading the managers to an inner room and instructing that no one else be allowed to enter.

“These are troubled times, and Master Gu must be busy. I’ll speak directly.” Among the four, Manager Jiao still took the lead in speaking. “Are you planning to surrender and admit defeat, or do you want to fight the foreigners to the end?”

“What do you mean?” Gu Pingyuan thought for a moment and asked. “As long as there’s the slightest possibility, I don’t plan to admit defeat. Unfortunately, it seems even this slight hope is like flowers in a mirror or the moon in water – visible but unreachable.”

The managers all dealt with money and silver. In this competition between Gu Pingyuan and the foreigners, it all came down to money, so they understood the situation best. Hearing his words, they all nodded simultaneously.

“Alas, one side rises while the other falls.” The elderly Manager Zhang hit the nail on the head. Not only had the court given Jardine Matheson ten million taels in assistance, but another seven million taels had to be paid by merchants in the Liangjiang region. Two-thirds of this would come from Hui merchants and the Dongting merchant guild – meaning they not only couldn’t get government help but had to hand over their hard-earned silver to the foreigners. It was like turning their guns around and handing the trigger to the foreigners, watching helplessly as they fired a shot at themselves.

“No wonder Old Master Hu was so angry he had a stroke on the spot. It’s really too humiliating.” Manager Jiao slapped his leg.

Manager Zhang cupped his hands to the group: “I’m ashamed to say this, but the Four Great Heng’s current situation can’t be hidden from Master Gu. First we lost a large sum at the Ten Thousand Tea Conference, then although Master Gu helped us exchange salt shares for cash, it was at a huge discount and we still suffered major losses. Besides, we’re managers, not owners. In the current situation, we really can’t make unauthorized decisions to lend money to Master Gu. Please understand.”

“What are you saying? I also know the Four Great Heng’s difficulties – you need to maintain business in the capital and have set up new branches in the south, right when you need money. I’ve also been in the draft bank business and know that money houses and draft banks value reputation most. If you’re short on cash and face a run, the consequences would be unthinkable. I never planned to ask you for anything. Manager Zhang speaking this way makes it hard for me to respond.”

“It’s rare to find someone in business who thinks of others like you do.” Manager Zhang nodded and sighed. “But we’ve received great kindness from Master Gu and must reciprocate. That question Manager Jiao asked earlier wasn’t idle talk.”

The imperial Ministry of Revenue never dealt directly with foreign merchants. Any monetary transactions were first transferred through the Four Great Heng, which then conducted business dealings with foreign merchants. Manager Jiao’s question stemmed from this arrangement.

“Right now, Master Gu’s biggest disadvantage is probably time. Jardine Matheson caught us off guard. Even if there were ways to raise more silver, there’s not enough time – it’s futile.” Manager Zhang believed that after the Four Great Heng received the ten million taels from the Ministry of Revenue, they could certainly make trouble for the foreigners with paperwork, even create some small “accidents” to delay as long as possible.

“Speaking of inauspicious things, if Old Master Hu should have some mishap, even the foreigners wouldn’t be so unreasonable as to not allow people to hold funeral rites. If we add some more trouble for them in both the capital and Jiangning – this isn’t difficult, just getting one abacus bead wrong would require at least three or four days for the Ministry of Revenue and the banks to reconcile accounts. Do this several times and we could easily delay a month or two. It’s up to Master Gu whether he wants to do this – just say the word and the Four Great Heng will follow your instructions.”

“Manager Zhang, you’re all being too kind. What can I say to this?” Gu Pingyuan was moved. “We must do it! I haven’t thought of a solution yet, but if I really do find one, what I’d fear most is running out of time. Don’t say a month – I’d want even a single hour.”

“If in the end we really can’t match the foreigners, at least we’ll have given our all. Even the court surrendered without a fight, but we merchants fighting to the last moment before falling – there’s no shame in that!” Gu Pingyuan’s eyes glimmered with unshed tears.

Three days later, in the depths of night, Old Master Hu passed away silently. No one knows what anger and disappointment filled the heart of this Hui merchant leader who had never been willing to fall behind others as he drew his last breath. Gu Pingyuan, who rushed over upon hearing the news, could only hold back tears as he gently closed the old man’s eyes that remained wide open even in death.

Shunde Tea House was shrouded in white. All the shop assistants were sent out to deliver mourning announcements. The entire front hall was converted into a memorial hall, with the body lying in state for twenty-one days to receive worship from merchants from all regions.

Lord Hou Er wore mourning garments and tearfully received merchants who came from various places to pay their respects. Watching them voluntarily tie hemp ropes around their waists, willingly wearing mourning for this respected senior figure of the merchant world as if mourning their own father, sorrowfully kowtowing before Old Master Hu’s spirit – several people cried until they fainted, repeatedly speaking of how the old master, though a complete stranger, had warmly offered help years ago, helping small traders start from nothing, providing assistance in their darkest hours, and even specially sending people to inquire about how their small businesses were doing and whether they needed the Hu family’s help more than ten years later.

Only now did Lord Hou Er truly understand from his heart how weighty that “Hall of Two Sincerites” in the Hu residence was, and how precious it was in the eyes of the world. When his uncle had taught him how to conduct business, explaining “sincerity,” “trustworthiness,” and “righteousness” in detail, he hadn’t listened, always complaining about why his uncle didn’t tell him more about his business experiences in various places and methods for making money. Today, seeing the heartfelt respect these fellow merchants had for Old Master Hu, and reflecting on how he had once sought the casket while returning the pearl, he now felt overwhelmed with shame and truly wanted to slap himself hard twice.

On the seventh day after death, after completing a full day of memorial services, as evening approached, according to custom the deceased’s soul returns home and family members must retire to the inner quarters. Lord Hou Er asked Manager Peng to look after things outside while he found Gu Pingyuan. He had been deeply moved these past days and had some words he had to express.

“I finally truly understand what the words ‘trustworthiness and righteousness’ mean to merchants. These tears before uncle’s spirit are worth more than gold – they can only be earned through trustworthiness and righteousness. Sigh, looking back on these years, I was truly possessed by demons. If Master Gu hadn’t pointed out the way for me, I probably would have already ruined my reputation among Hui merchants. Not being able to do business wouldn’t matter much, but dragging down uncle’s lifelong good name – as a junior, I could never atone for such a sin even with a hundred deaths.” Lord Hou Er rubbed his hands and said with a red face.

“That you can have such understanding would surely comfort the old master’s spirit in heaven.” Gu Pingyuan was also deeply moved, thinking back to when he and Lord Hou Er had fought irreconcilably, yet now they could become friends who spoke of everything – truly the world is unpredictable.

“This time uncle was essentially killed by anger at the foreigners. The directors at the Hui merchant guild told me that Hui merchants are filled with indignation over this. Although everyone already contributed money once, their family foundations remain, so they’ve gathered funds a second time, determined to support Master Gu in settling accounts with the foreigners. Though I’m worthless, I’ve also saved some silver over the years. At a time like this, I dare not be a miser. Except for the house we live in, I’ve simply had my family pawn and sell everything for cash to give to Master Gu.”

Gu Pingyuan nodded silently, though his lips carried a bitter smile. He knew about this second sum from the Hui merchant guild that Lord Hou Er mentioned. Compared to the huge amount the foreigners had obtained from the Qing treasury, while it couldn’t be called a drop in the ocean, it was still like trying to put out a cartload of fire with a cup of water.

The Four Great Heng’s delaying tactics successfully tied up Jardine Matheson. Although Li Qin knew that long nights bring many dreams and Taipan John was also furiously urging the Ministry of Revenue to quickly settle the silver accounts with the Four Great Heng, even sending people directly to the capital to press for payment, no matter what, on the originally agreed date, Jardine Matheson could only produce silver on paper, while Gu Pingyuan’s silver, though far short of the foreigners’, was all real gold and silver, or draft bank notes that foreigners had always recognized. This counted as a draw. Though Taipan John was unwilling, he could only grudgingly agree to extend the deadline by two months due to both sides’ breach of contract.

For Jardine Matheson, the two-month extension just meant waiting – no matter how much this money was delayed, it would definitely arrive in Jiangning by then. But for Gu Pingyuan it was exactly the opposite – he had to create twenty million taels of silver from thin air to compete with the foreign merchants.

The Liangjiang merchants needn’t be considered – both Hui merchants and the Dongting merchant guild had already emptied their purses with nothing left to give. As for the God of Wealth Hu Xueyan, his funds were all tied up in silk goods. He had planned to sell to foreign firms, but the biggest buyer, Jardine Matheson, couldn’t possibly buy goods with money now, while merchants from other countries, judging the situation and knowing that after this dragon-tiger struggle one side would suffer heavy losses and the market would face major upheaval, all adopted a wait-and-see attitude. Forget about purchasing – they wouldn’t even quote prices.

Hu Xueyan suffered collateral damage, watching his silk grow yellower by the day. In his own moment of extreme anxiety, he naturally couldn’t help with the current situation.

Gu Pingyuan had planned to use the “using barbarians to control barbarians” approach he’d just learned from Zeng Guofan, wanting to contact banks and trading companies from various countries for loans, using future salt field revenues as collateral. This deal initially aroused great interest from merchants of various countries, who seriously evaluated both sides’ chances of winning. From a profit perspective, no country wanted Jardine Matheson to dominate alone, and being able to profit from the salt fields would naturally be good business.

Just when this major loan was about to be finalized, Li Qin appeared from nowhere, bringing Taipan John’s warning that if banks from various countries wouldn’t lend to Jardine Matheson citing tight money, that was one thing, but if they favored Qing merchants, it would be considered a provocation against the British Empire, ending with the same phrase: “face the consequences.”

Offending Britain would bring no good results, and Jardine Matheson’s accusation was indeed reasonable – if money was tight, they should treat everyone equally. Moreover, British merchants had requested loans first but couldn’t get money, while Gu Pingyuan as a latecomer could borrow – even by business rules this was unreasonable. So merchants from various countries backed down one after another, leaving Gu Pingyuan to return empty-handed after working for nothing.

In front of merchants from various countries, Li Qin laughed coldly, pointing at Gu Pingyuan’s nose and saying: “People say ‘learn from your mistakes and gain wisdom.’ I’ve suffered several major losses at your hands and know you have many schemes, but ‘you have Zhang Liang’s strategies, I have ways to climb over walls.’ I’m just watching you – no matter what you do, I only need to play the British card to make all your schemes useless.”

“He’s right. Right now I truly have no schemes. With so much silver needed, even if someone gave me a silver mountain right now, I couldn’t mine it out.” Gu Pingyuan sighed softly.

Lord Hou Er opened his mouth but had no words of comfort. Manager Peng entered, saying it was time for evening incense. Gu Pingyuan nodded and went out with Lord Hou Er to offer incense and worship before the spirit.

“Old master, it seems I, Gu Pingyuan, am incompetent and will likely disappoint your earnest hopes.” As Gu Pingyuan prayed silently, his mouth felt as if it contained an olive pit – bitter and astringent.

But Lord Hou Er said indignantly: “Uncle, let your spirit in heaven send Master Gu a dream and tell us how to defeat these damned foreigners.”

Just then, the sound of carriage wheels rolling over stone pavement came from the darkening street, stopping at the door. Who would come to pay respects at this hour? Everyone in the memorial hall turned toward the entrance and saw a man get down from the carriage. He wore short clothes and boots, was not tall but had alert eyes. As soon as he got off the carriage, he took a hemp rope and tied it around his waist, then strode boldly inside.

As this person came closer, Gu Pingyuan’s eyes slowly widened and he went to meet him.

“Wang Chi?!”

“Brother Pingyuan, since we parted in Shanxi, it’s been several years, but we finally meet again.” Though the man didn’t smile in the memorial hall, he gripped Gu Pingyuan’s hand tightly.

“I did as I said back then and returned to my hometown in Yunnan to do business.” In the side hall, Wang Chi greeted several colleagues in the tea house and voluntarily told Gu Pingyuan.

“Oh, what kind of business are you in now, brother? In the future when there’s opportunity, I’ll definitely be a customer and do business with you.”

Hearing Gu Pingyuan say this, Wang Chi blinked and smiled mysteriously: “Actually we’re already doing business – you’re still one of my big customers!”

“This…” Gu Pingyuan looked at him in confusion.

“I run a pack train business, using my own name for the pack train. Wang Chi got shortened by the locals to ‘Wang Si,’ which sounds good and is easy to remember.”

“Wang Si… Southern Yunnan Wang Si, the Wang Si Pack Train?” Gu Pingyuan shot to his feet, looking at Wang Chi up and down in surprise and delight. “I could never figure out why a Yunnan pack train we’d never met would take such good care of my Gu family’s business. I never imagined it was an old friend helping out.”

As they talked further, Gu Pingyuan was even more surprised to learn that Wang Chi’s business had grown so large. He was not only the owner of Yunnan’s biggest pack train but had also used the pack train’s transportation convenience to establish “Tongqingfeng” banks in Sichuan and Yunnan, handling remittances and deposits. Wang Chi was the first to establish this business throughout the mountainous regions of Sichuan and Yunnan, so naturally money rolled in. Some people, pointing to his surname, gave him a nickname: the “Money King”!

“The ‘Money King’ title is false – just for show. In front of my peers I dare not boast, and I dare not forget past events. If not for Brother Pingyuan kowtowing to that Li Qin on the spot to save me back then, I would have become a cripple long ago, let alone travel mountains and rivers doing business. Moreover, my achievements today all stem from remembering how Brother Pingyuan considered small merchants and households at the Shanxi draft bank – ‘opening accounts for even one wen’ – I’ve done the same in Sichuan and Yunnan, which allowed me to gather all streams into the sea, accumulating sand into a tower.” Wang Chi spoke in an understated tone, but his words were sincere and heartfelt.

“This time I came not only to pay respects to Old Master Hu but to bring all my ready cash to support the Gu family. Speaking of fighting foreign merchants and that Li Qin, the Money King’s ‘money’ is the Gu family’s money – Brother Pingyuan, use it freely.”

Gu Pingyuan felt his heart warm. He wanted to say something but swallowed it back, simply nodding deeply at Wang Chi. Sometimes words are unnecessary – kindred spirits understand everything without speaking.

Manager Peng was quick with his hands. Getting word, he immediately worked his abacus beads, calculating again and again before grimacing – they were still short exactly ten million taels of silver.

“See that empty tea warehouse over there?” Liu Heita asked how much ten million taels actually was. Manager Peng Haiwan pointed ahead irritably. “I see it. What about it?”

“Ten million taels of silver piled in there wouldn’t even let you close the door.” Manager Peng Haiwan looked up to the sky and sighed heavily.

“What’s wrong with you now?”

“I’m hoping silver will fall from the sky. As long as we can gather enough, so the old master won’t die with eyes unclosed. Even if it crushes me to death, that’s fine.” Manager Peng was grateful for the Hu family’s patronage. Thinking of Old Master Hu’s appearance before death brought tears to his eyes.

Though Manager Peng wasn’t crushed to death by silver falling from the sky, the next day he was nearly scared to death by a sum of money.

The steward in charge of collecting funeral offerings rushed to the counter to find Manager Peng: “Manager, please take a look. I don’t dare accept this money.”

“Funeral offerings aren’t stolen goods or bribes – what’s there not to dare accept?” Seeing his panic, Peng Haiwan glared at him. “Old Song, I’m not criticizing you, but you’re getting on in years yet still can’t keep your composure. Every little thing and you act like the sky is falling.”

“This is really too much.”

“How much could it be? Could it be ten million taels?!” Peng Haiwan irritably took the ledger and glanced at it, then nearly fainted, plopping back into his chair and staring dumbfounded at the figure.

“This… this isn’t a joke, is it? Or is someone deliberately causing trouble?”

“I don’t think so. The person who brought the offering clearly had extraordinary bearing – definitely not joking.”

“I… I need to find Master Gu immediately. I wrongly scolded you just now – I can’t make this decision either.”

Gu Pingyuan was in the back room with Wang Chi discussing how to continue raising the remaining silver. With these two men’s business acumen, they could think of ways to earn several hundred thousand or even a million taels, but over ten million taels truly stumped them. The few income sources they could think of added up to only one or two-tenths of what they lacked, and would still be time-consuming and laborious.

When Manager Peng Haiwan came running with the account book, Gu Pingyuan shot to his feet after looking at it. Wang Chi glanced over and also gasped in amazement.

Gu Pingyuan said nothing, hurrying to the front memorial hall where he saw someone offering incense and worship. The back looked very familiar.

When the person stood up and turned around, Gu Pingyuan first saw a pair of bright, alert eyes filled with warmth.

Gu Pingyuan never expected this person to appear here at this moment. He stood stunned while Wang Chi recognized him and blurted out: “Master Qiao.”

The accountants and shop assistants at Shunde Tea House were all stirred up. Hearing this was the famous “Bright Wealthy Master” Qiao Zhiyong from Shanxi, they all crowded out to see, surrounding him three layers deep.

Qiao Zhiyong looked at Gu Pingyuan with a slight smile: “Brother Gu, it’s been quite a while since we’ve met. This time I come on behalf of the Kang family from Shaanxi, Aunt Lei, Manager Mao, and eighteen draft banks throughout the province.” He stepped forward and placed a hand on Gu Pingyuan’s shoulder.

“There’s something they asked me to tell Master Gu.” Gu Pingyuan looked at Qiao Zhiyong’s solemn expression with some surprise. The next words he heard brought tears instantly to his eyes.

“Everyone says: Shaanxi merchants and Shanxi draft banks follow only Master Gu’s lead!”

“Brother Gu, you brought us all this way here but won’t say what for. It’s been half an hour and you just stare over there without speaking. What riddle are you keeping in this sealed gourd?” Though Qiao Zhiyong managed the vast Qiao family business that was “worth three trading houses combined,” at heart he preferred to be a carefree wanderer among mountains and rivers. Seeing the beautiful scenery here but Gu Pingyuan only staring silently at an island in the middle of the river from the overgrown riverbank, he waited quite a while before finally speaking up.

Wang Chi was the most steady-tempered of the three men by the river. He had noticed these past two days that Qiao Zhiyong’s ten million taels of silver had made everyone following Gu Pingyuan in fighting the foreign merchants boil with excitement. Though still during Old Master Hu’s mourning period, everyone at the tea house had shaken off their dejection, all wearing excited expressions. As the head of the family, Gu Pingyuan was naturally overjoyed, but strangely, after a while his brow furrowed again. This time he told no one his troubles, instead thinking silently alone. Yesterday he even locked himself in his study all day without seeing anyone.

So Wang Chi remained silent, feeling that Gu Pingyuan must have some difficulty he hadn’t mentioned. Sure enough, after waiting a while, Gu Pingyuan spoke, pointing at the island: “My grandfather, father, and my son are all on that island.”

Qiao and Wang were startled, staring wide-eyed at Gu Pingyuan. They immediately understood he wasn’t joking. The two exchanged glances, neither responding, not knowing how to continue.

“Of those three, one’s soul rests in a spirit tablet, one became a monk, and one was killed before even being born.”

Looking at the distant Jinshan Temple, Gu Pingyuan spoke heavily as he slowly recounted his family’s story – his grandfather’s death in Yangzhou while trading, his father’s great humiliation leading him to abandon wife and child to marry into the Li family in Beijing, his wife Chang Yu’er being pursued and falling from a cliff behind Jinshan Temple with their unborn child lost on the spot, his mother dying from this tragedy… He told it all, taking a full hour, leaving the other two men slightly agape, their eyes following Gu Pingyuan’s gaze to Jinshan Temple, unable to look away for a long time.

“And my father-in-law, teacher, close friends, good companions… all dragged into this for the sake of ‘business,’ forever separated by death, never to meet again.” In Gu Pingyuan’s mind appeared the faces and voices of Fourth Father Chang, Teacher Bai, Bai Yimei, Deng Tieyi, Jin Hu, Ding Erchao, and others.

“This time, fighting foreign merchants for the Lianghuai salt fields, I fear I’ll drag all the world’s merchants down with no chance of recovery.” Gu Pingyuan finally voiced what had been hidden in his heart.

Though he spoke, no one understood. Qiao Zhiyong frowned: “Given this situation, no wonder you’re so troubled. But when you say you’ll drag down all the world’s merchants, everyone willingly contributed money to fight the foreign merchants. Besides, this money can slowly be returned from future salt field profits – you needn’t worry so much.”

“I’m thinking one step deeper than Master Qiao.” Gu Pingyuan bent down to pull up a grass root, slowly breaking it piece by piece in his hands. “I’ve calculated – this time Hui merchants, Shaanxi merchants, Shanxi merchants, Beijing merchants, Fujian merchants, Guangdong merchants, Yunnan-Guizhou-Sichuan merchant guilds plus the Dongting merchant guild all joined forces to help me fight the foreign merchants, using almost all the Qing merchant guilds’ financial power. Even if we pay such a huge price to get the Lianghuai salt fields, Jardine Matheson will surely be furious and retaliate massively in other businesses. Other foreign merchants will also take advantage, and then all trades and industries will likely fall into foreign hands. The merchant guilds’ years of hard work will all be destroyed.”

Gu Pingyuan flung his hand, and the withered grass floated into the river, instantly swallowed by the water.

“Think about it – we exhaust ourselves defending the salt industry, but if silk, tea, grain, timber, money houses, and draft banks are all taken by foreigners, and even the national treasury is emptied, wouldn’t the Qing dynasty be finished?” This question left Qiao Zhiyong speechless – he truly hadn’t imagined the consequences would be so severe.

“But as you said, after foreigners take the salt fields, they’ll poison the people with opium-laced salt to create addiction. This move is even more vicious – when all Qing people become opium addicts smoking opium paste, wouldn’t that be like national destruction and racial extinction?” Wang Chi asked.

Gu Pingyuan laughed bitterly: “This is truly fate and fortune. Every business I’ve done ends up like now – advance one step and die, retreat one step and perish. This time it’s not just me but the Qing dynasty’s national fortune. Heaven really thinks highly of me, Gu.”

“The Qing may perish, but China cannot.” Qiao Zhiyong suddenly said, drawing the other two’s attention. He spoke bitterly: “If not for the court’s weakness and incompetence, how could we Qing merchants be pushed to desperation by foreign merchants at our own doorstep? Thinking of this, I truly wish this Qing dynasty would collapse sooner.”

Gu Pingyuan was reminded by his words and immediately thought of Su Zixuan’s words from that day. So it seems using the court’s indemnity debt to foreigners against Qing merchants – this mutually beneficial, two-birds-one-stone strategy could only have been conceived by that supremely clever “Young Master Su.”

This wasn’t the time to bring up that matter. Gu Pingyuan said: “Foreigners watch us like tigers eyeing prey. Once we make a wrong step, we’ll be doomed forever.”

“Since it’s a dilemma of advance or retreat, we can’t just stand and wait for death.” Wang Chi said gravely.

“Not only can’t we stand and wait for death, we must make a great commotion.” Gu Pingyuan suddenly asked: “Do you two trust me?”

“What kind of talk is that? If we didn’t trust you, why would we come all this way?” Qiao Zhiyong pretended to be annoyed, and Wang Chi naturally nodded in agreement.

“Then I must try the method of burning bridges behind us.” Gu Pingyuan clapped his hands, making his decision, and asked Wang Chi: “The pack trains of Yunnan, Guizhou, and Sichuan – how many men and animals in total?”

“People running pack train business in the three provinces number at least twenty thousand. As for mules and horses, there must be around a hundred thousand.”

“What’s your relationship with them?”

“I can’t say about everything else, but with the reputation of ‘Southern Yunnan Wang Si,’ at least half the muleteers would show me face.” Wang Chi said confidently.

“Good. Send word back immediately – mobilize these ten thousand men and tens of thousands of mules and horses to Jiangning, as quickly as possible.”

Wang Chi’s eyes widened instantly: “Ten thousand men plus forty to fifty thousand horses?” Pack trains doing business usually meant two to three hundred men with a thousand mules and horses was already an incredible large caravan. Calling up ten thousand men would create such a magnificent spectacle it was unimaginable.

“Correct!”

Wang Chi opened his mouth to ask, then swallowed his words and nodded slightly: “Done. I’ll arrange it immediately.” He already imagined how difficult this would be and what commotion it would cause, but he decided not to ask anything. Since he’d said he trusted Gu Pingyuan, he’d trust him completely.

Qiao Zhiyong also listened in bewilderment. Shanxi camel caravans worked on the same principle as Yunnan-Guizhou pack trains. Imagining it slightly, he could envision what an enormous freight convoy Gu Pingyuan planned to organize. Such a large caravan was unheard of, let alone seen.

“Brother Gu, your actions are truly unpredictable. Fine, if even Wang Chi doesn’t ask, I won’t guess either. But after giving him such a difficult task, do you have an even harder one for me?” Qiao Zhiyong looked expectant, but Gu Pingyuan’s answer stunned him.

“Not difficult – Brother Qiao just needs to have a big fight with me.” Gu Pingyuan smiled.

“A fight?” Qiao Zhiyong and Wang Chi looked at each other in confusion.

Gu Pingyuan didn’t explain much, and his next words made Qiao and Wang wonder if they’d heard wrong, and whether this person knew what he was saying.

“Since advancing means death and retreating means destruction, I’ll neither advance nor retreat, but soar to the heavens. I’m going to use British money to buy the Lianghuai salt fields!”

“What did you say? Say that again?” When Li Qin heard from Qiao Henian’s messenger that Gu Pingyuan had just used his money to buy all of Hu Xueyan’s accumulated silk goods, and with help from Nanxun’s “Four Elephants and Eight Bulls” had swept up all the “Jili Lake Silk,” he simply couldn’t believe his ears.

“Hu Xueyan currently controls nearly half of Jiangnan’s silk goods. Adding the silk provided by Nanxun silk merchants, Gu Pingyuan would spend nearly half his money in one stroke. What will he use to compete with the foreign firm for the salt fields?” Li Qin rubbed his forehead, muttering to himself.

“Whether Chinese or foreign, everyone’s desperately hoarding silver right now, wishing they could clear all their inventory. Why is this Gu buying goods with money? Why?” Taipan John was also completely puzzled, staring at Li Qin.

Li Qin was initially bewildered, then gradually understood: “I get it – this is another of Gu Pingyuan’s tricks. Hu Xueyan was already on good terms with him. Though he sold the goods, he might not have collected payment – it must be on credit. Gu Pingyuan is playing this hand to confuse us, making us think he’s bound to lose so we won’t continue raising funds, giving him a chance to win.”

“Hmm.” As Taipan John pondered, a subordinate brought a letter. He casually opened the envelope with a knife, pulled out the paper, glanced at it then stared intently. After reading, he leaned back and looked at Li Qin: “I’m afraid you guessed wrong.”

“How so?”

“Look at this letter.”

Li Qin took it, and after reading two lines his body trembled, his mouth gradually opening with complete astonishment.

“Gu Pingyuan paid cash to make large purchases from various countries’ trading companies? This… this…” Li Qin instantly lost his ability to think, because Gu Pingyuan’s actions were so unexpected, completely beyond his consideration.

“Foreign companies from various countries won’t give him goods on credit, especially since he even sent people to Jardine Matheson asking prices, planning to buy our silk and tea inventory – this can’t be faked.” Taipan John had an unlit cigar in his mouth, slowly shaking his head. “Based on his current actions, he’s spent eight or nine-tenths of his money and has actually lost qualification to compete with Jardine Matheson for the Lianghuai salt fields. Mr. Li, I don’t understand what this Gu Pingyuan is trying to do. Can you tell me?”

Li Qin wrinkled his brow, thinking through nearly everything he’d known about Gu Pingyuan since they’d met, but finally shook his head helplessly.

“So we can’t fathom his intentions and must assume he’s completely abandoned the salt fields, instead using the current tight money supply and depressed market to make large purchases and stockpile goods, planning to profit this way.” Having worked at Jardine Matheson his whole life, Taipan John had done countless buy-low-sell-high deals – this was his most reasonable guess.

However, Li Qin didn’t believe Gu Pingyuan was only trying to earn hundreds of thousands or even millions of taels in price differences. This wasn’t the Gu Pingyuan he knew – definitely not.

Taipan John didn’t notice Li Qin’s ugly expression, continuing on his own: “Though we warned various countries that favoring Qing merchants would be considered provocation against the British Empire, but…” But with cash transactions, the more goods various countries sold to the Gu family, the less silver Gu Pingyuan would have. When the deadline arrived, they’d already won without comparing prices – it was like various countries helping Jardine Matheson instead.

“Given the current situation, trying to stop various countries from trading with Gu Pingyuan would be laughable.” Taipan John shrugged with bitter amusement.

Li Qin violently pulled his hair, grinding his teeth: “Gu Pingyuan, what are you thinking? How will you deal with Jardine Matheson, deal with me?” The deep fear of the unknown surging from his heart instantly seized him.

“Miss, please speak! The whole market’s about to explode. Wine shops, tea houses, restaurants, streets and alleys – everywhere people are discussing this, all saying Gu Pingyuan must have gone crazy to give up and spend all his money.” Sixi’s eyes were round as coins, gesturing as she spoke. “What’s more ridiculous is that many merchants from other places rushed here overnight with cartloads of goods heading straight for Shunde Tea House, and Gu Pingyuan bought everything without question, even purchasing carts and goods together. How strange is that!”

Su Zixuan frowned and thought quietly for a while, then asked: “Didn’t you go watch the excitement at Shunde Tea House? What was the Gu family’s attitude?”

“They’re nearly dying of anxiety but can’t stop him. The tea house is now in complete chaos.” Sixi recalled the morning’s scene, wishing she had another mouth to describe every detail of that chaotic situation.

Manager Peng Haiwan clutched a stack of bank notes just retrieved from the money house like a life-saving lingzhi mushroom, refusing to let go. His face streaked with tears, half-collapsed and half-kneeling on the ground, wailing like mourning a parent: “It’s over, completely over. Master Gu, what madness possessed you to spend all the money? This is silver everyone pooled together to avenge the old master, and it’s all spent – what can we do…”

Several shop assistants couldn’t pull him up despite great effort. Manager Peng Haiwan cried with convulsions, simply lying on the ground: “Just dig a hole and bury me. I failed the old master, didn’t watch over this silver.”

Manager Fei sat in the corridor like he’d lost three souls and six spirits, staring dumbly at the various goods piling up throughout the tea house in continuous streams. His face twitched occasionally – whether crying or laughing, no one knew. Finally he squatted holding his head, making unintelligible whimpering sounds.

Secretary Hao and Lord Hou Er pounded on the study door, which was locked from inside. No matter who called or shouted, Gu Pingyuan made no sound. Poking through the window paper, they saw him sitting in a chair reading Sima Qian’s “Records of the Grand Historian,” completely ignoring everything.

“Brother, please come out and explain clearly! You’re going to worry your older brother to death. Just when things were succeeding and we had the silver, how could you do this? This… this is handing the salt fields to the foreigners on a silver platter…” Secretary Hao felt like he was having a nightmare, heartbroken and stamping his feet. Lord Hou Er pulled him aside, saying grief-stricken: “What’s the use of talking? It’s too late for anything. The silver’s spent – even if we regret it now, could we return the goods? Even if they let you return them, it’d be at twenty percent discount at least. We absolutely can’t match Jardine Matheson now. We’ve lost – definitely lost!”

“Alas!” Secretary Hao swung his arm, and his beloved jade-mouthed pipe that he treasured like life smashed against a pillar, breaking in two with a crack.

Outside was chaos; inside the hall people were also pleading desperately: “Sister-in-law.” Gu Yuting was ready to kneel and beg Chang Yu’er. “Big brother listens to you most – please go talk to him, don’t let him be confused.”

“Sister, please go persuade Brother Gu. Though I don’t understand business, this time he’s clearly got it backwards. Competing for salt fields is about who has more money, not who has more goods. At this crucial moment he’s buying goods with money – isn’t this completely wrong?” Liu Heita grimaced, this rough man rarely frowning in bewilderment.

Chang Yu’er’s expression was calm as water, even carrying a slight smile. While patting the child to sleep, she chided: “Don’t be so loud – you’re disturbing the child’s sleep.”

“Sister-in-law, this is an urgent crisis…” Gu Yuting suddenly understood. “Did big brother give you some hint? Do you know what he’s doing?”

“Then sister, you must tell me. You know my nature – if I keep guessing like this, I’ll go crazy.”

“Both of you calm down.” Chang Yu’er shook her head gently. “I know nothing. Even if Brother Gu told me, I wouldn’t want to know. Men handle external affairs, women handle internal ones. I’ll take good care of him and the child – as for outside business, it’s entirely up to Brother Gu.”

One saying nothing, one asking nothing – this couple’s unfathomable attitude left Liu Heita and Gu Yuting stunned, looking at each other with bellies full of questions they could no longer voice.

“Didn’t that Master Qiao from Shanxi also come? He’s an outsider who brought so much silver to help – Gu Pingyuan should at least give him an explanation.” After hearing Sixi describe the chaos at Shunde Tea House, Su Zixuan rolled her eyes and mentioned someone.

“Him? Don’t mention it – I heard early this morning Qiao Zhiyong had a big fight with Gu Pingyuan and left in anger, probably returning to Shanxi.” Sixi spread her hands. “That’s all I know. Miss, if anyone could see through Gu Pingyuan’s intentions, it would be you. I’m dying of curiosity – people in Jiangning are like me now, unable to eat or sleep, all guessing whether Gu Pingyuan has gone mad or crazy, or has other intentions. There are plenty fighting in the streets over different opinions. Fortunately I have you, Miss, so I can get an answer – otherwise this anxiety would kill me.”

“You’re wrong.” Su Zixuan looked at Sixi’s astonished expression. “This time, I can’t guess what he’s doing.”

“Miss…”

“What he’s doing now can be compared to this: like two armies facing each other across a river, one side suddenly throws all weapons into the water. What do you think this side wants to do?”

“Surrender?”

“Gu Pingyuan? Surrender? I’ve only seen him grow stronger through setbacks, never surrender without fighting. He – is not that kind of person.”

“Then what kind of person is he?” Sixi asked in surprise, having never seen such puzzling confusion in her mistress’s eyes.

“I don’t know. When the mystery is revealed, the truth will be clear, but it will definitely be irreversible.” Su Zixuan’s lips were somewhat pale. She suddenly said: “Sixi, I fear I’m doing something I’ll regret.”

“What are you doing?”

“Doing nothing.” Su Zixuan closed her eyes. “Actually I should immediately find a way to kill him. Otherwise, this time’s efforts may again come to nothing.” She shook her head somewhat helplessly, her voice carrying a trace of desolation.

“Mr. Li, this worldly chaos makes one envious of the peaceful Buddhist lamp and incense.”

“Your Excellency, a monk dare not accept such address. The Western Paradise is the true Pure Land. Seeking to be a ‘master’ was heading south to go north.”

Hearing this, Zeng Guofan smiled faintly and changed the subject: “Jinshan Temple has many visitors. You must have heard about Gu Pingyuan’s actions. I’m ashamed to say that though I received reports three days ago, I still don’t understand his intentions. The Lianghuai salt fields are a national financial source. If there’s any chance, I wouldn’t want them to fall into foreign hands. After much thought, I could only come to Jinshan Temple to burn incense and ask – with your decades of business experience, can you see what Gu Pingyuan intends with this move?”

“Why doesn’t Your Excellency ask Gu Pingyuan directly?”

“The government said it wouldn’t interfere, so it’s difficult to ask. Moreover, the court’s previous actions truly shame me – I’m rather embarrassed to see him.”

The monk whose lay names were “Li Wantang” or “Gu Wanzhang” stood by the desolate riverbank, silent for a long time before saying: “There aren’t many merchants in this world who truly understand that ‘doing business isn’t about who has more money.’ Gu Pingyuan is one of them. That he can earn the trust of merchant guilds worldwide – this is what’s meant by ‘those who follow the right path have many helpers.’ Compared to my final isolation with everyone turning against me, his business skills have long surpassed mine. As for what Your Excellency asks about his intentions this time, I can’t see through that either, but…”

He walked a few steps casually, pointing at the ice that had formed along the riverbank the night before, now slowly melting under the afternoon sun as river water washed over it.

“Your Excellency please observe – as the saying goes, ‘cold ice cannot stop flowing water, withered trees will meet spring again.'”

Zeng Guofan gazed at the river, initially puzzled, then gradually a glimmer of light appeared in his eyes.

The people of Jiangning hadn’t expected that the excitement they’d witnessed these past days was merely the beginning. When the Yunnan-Guizhou pack trains arrived in mighty procession – nearly a hundred thousand mules and horses stretching beyond sight entering through Jiangning’s south gate, heading straight for Shunde Tea House to load goods, then rushing out the north gate without pause – this truly shocked all of Jiangnan.

This unbroken chain of pack trains took three full days and nights just to load goods, circling Jiangning city three complete times – truly a magnificent spectacle.

Not only did the entire city’s residents come out with old and young to witness this sight, but all the officials and clerks climbed the city walls to see this marvel, including Taipan John and Li Qin.

“I spent a large sum having people investigate thoroughly. There’s no mistake – Gu Pingyuan really did convert all his silver into these goods and specifically called the Yunnan-Guizhou pack train to transport them out of the city.”

“Could this be fake?” Taipan John had never seen such a massive freight convoy and asked in amazement.

“I remember when Gu Pingyuan used fake grain to deceive Sengge Rinchen in Xi’an. I couldn’t let him use the same trick twice, so I had people secretly inspect the cargo – those bundles are all full, mainly silk and tea, with thirty percent miscellaneous goods like dyes, rough cloth, porcelain, writing brushes and ink.” Li Qin was also watching the pack train convoy. “No matter what, his silver is gone. This time he’s definitely lost.”

“If he’s definitely lost, then Jardine Matheson has definitely won, right?”

Li Qin should have immediately nodded, but he hesitated before saying: “Yes. He can’t possibly gather so much silver again. Even if you gave him a gold mountain, he wouldn’t have time to dig out so much silver.”

“Good. I don’t care why he bought so many goods or how much profit he can make from them. In any case, what I want is the Lianghuai salt fields. Since Qing merchants no longer have silver to compete, let’s simply move up the deadline and get the salt fields in hand sooner.” Taipan John ordered.

Li Qin shook his head: “I sent people to test this yesterday, but the Gu family’s attitude is non-negotiable. They insist on waiting for the two-month deadline – not one day less.”

Seeing Taipan John glare and frown, Li Qin quickly said: “This is nothing. Gu Pingyuan knows he’ll lose, so he’s just dragging out time to deliberately disgust us. If we get angry, we’d be falling into his trap.”

“Since he has this plan, hmph, when the day comes, I’ll humiliate him thoroughly!” Taipan John’s eyes gleamed with malicious intent.

Precisely because he wanted to publicly humiliate Gu Pingyuan, when the official deadline arrived, Taipan John proposed that the competition between Qing and British merchants for the Lianghuai salt field operating rights be conducted in front of the Liangjiang Governor and all officials large and small, with contracts signed as proof. Moreover, this should be done at the Liangjiang Governor’s office. Though knowing this meant loss of sovereignty and national humiliation, Zeng Guofan readily agreed and specifically sent word to the Gu family.

Despite the bustling business of recent days with three days and nights of cargo loading – normally cause for great celebration – now everyone in the Gu family and throughout Shunde Tea House wanted to cry but had no tears. Most pitiful was Manager Peng, who initially refused food and drink with the air of following the old master in death. Though he later ate, it was tasteless, and he’d often zone out in a daze. Manager Fei and the others were no better off, all listless and dejected.

Early that morning, Gu Pingyuan, who had been silent and withdrawn, suddenly acted completely out of character, shooing everyone out like chickens: “What are you doing sitting in the tea house with long faces? Don’t you know today is the day to compete with the foreigners? Go, go, go – wash your faces, brush your teeth, put on your best clothes, and come with me to the Governor’s office shortly.”

“Brother Gu, don’t bring up what shouldn’t be mentioned.” Secretary Hao was so dejected he’d quit smoking, his face ashen and hardly better than a dead man’s.

“Don’t think we’ve definitely lost.” Gu Pingyuan’s words seemed to have tremendous magic power – all those who had been hanging their heads in silence suddenly looked up at him.

“I’ll put it this way – there’s a good show at the Governor’s office today. If you don’t go see it, you’ll regret it for the rest of your lives.” Gu Pingyuan said unhurriedly.

“Going or not?”

People looked at each other, almost simultaneously nodding: “Going, going! Master Gu, wait for us.”

These people followed Gu Pingyuan anxiously to the Governor’s office walls, stopping three zhang from the main gate.

“Why aren’t we going in?”

“What’s the rush? It’s not time yet.” Gu Pingyuan pulled out his pocket watch to check the hands, then turned to Manager Peng: “After we return today, please calculate clearly the silver capital each merchant guild contributed this time. Future salt field profits must be divided according to these amounts.”

“Ah… what?!” Manager Peng Haiwan first answered reflexively, then suddenly stared wide-eyed at his master.

Gu Pingyuan continued to Secretary Hao: “Salt workers have hard lives. I plan to petition Governor Zeng to draft regulations so that in future they won’t work as criminals but as salt laborers earning money to support their families. I’ll trouble Brother Hao to draft this petition.”

“Yes, this is good. But…” Secretary Hao had always been exceptionally shrewd but didn’t know how to continue.

“And the salt shops. They must still maintain thin profits. We can’t raise prices arbitrarily just because we control the salt fields. The policy of benefiting the people must continue.” Gu Pingyuan instructed Manager Fei.

Manager Fei nodded blankly – besides nodding, he didn’t know what else he could do.

“About time now.” Gu Pingyuan checked his watch again and walked toward the office. Everyone hurried to follow, exchanging glances that showed only bewilderment.

When Gu Pingyuan entered the office, he was startled – he hadn’t expected such a grand formation today. He saw hundreds of officials large and small, with various court robes and colorful hat buttons filling the Governor’s office’s second hall inside and out.

Secretary Xue approached and quietly said: “This was Governor Zeng’s order – all officials of seventh rank and above in Jiangning must come. Master Gu, please don’t make a fool of yourself.”

Gu Pingyuan smiled and replied with words that left Secretary Xue equally puzzled: “Governor Zeng’s vision is truly sharp – clear and wise with wisdom firmly in hand.”

“Master Gu…” Secretary Xue wanted to say more, but Gu Pingyuan had already walked toward the main hall. He first bowed to each of the officials in turn, then faced Taipan John in the first seat on the left.

Taipan John had been carefully observing since he entered, seeing Gu Pingyuan’s composed demeanor and secretly sneering. Without waiting for Gu Pingyuan to speak, he spoke first: “Mr. Gu, is your silver all ready?”

“My silver has all been converted to goods and taken away by the pack train. This is known throughout Jiangnan – surely Taipan John knows this?” Gu Pingyuan asked calmly in return.

“I certainly know. But I’ve investigated your background – you’re a very capable merchant. I think you probably kept some silver for today’s competition. Is that right?”

“You guessed wrong. I used all my silver to buy goods. The silver I have now – even if thrown in the street, I’m afraid Taipan John wouldn’t be interested in picking it up. Compared to Jardine Matheson’s capital plus the indemnity taken from the Ministry of Revenue, it’s truly negligible.” Gu Pingyuan smiled.

“Then I still admire Mr. Gu. Without silver to compete with Jardine Matheson, you still came here and appear so composed – this isn’t something ordinary people can do.” Taipan John clapped lightly. He turned to Zeng Guofan: “Governor, you heard – this merchant surnamed Gu has no silver to compete with our Jardine Matheson. May I understand this to mean Jardine Matheson has already obtained the Lianghuai salt field operating rights?”

Zeng Guofan pondered without answering, instead directing his gaze toward Gu Pingyuan.

Gu Pingyuan stepped forward: “Mr. John, why such haste? Since I came today, it’s certainly not to do nothing. May I ask you to step aside with me for a private chat?”

“Gu Pingyuan, whatever tricks you play are useless. Today the taipan came to sign contracts, not to chat. If you want to chat, wait until this contract is signed, then see if Taipan John deigns to speak with you.” Li Qin finally found his chance to thoroughly humiliate Gu Pingyuan.

Gu Pingyuan didn’t even look at him, still addressing Taipan John: “I guarantee our conversation will benefit you with no harm. Or rather, if you refuse my proposal, you’ll definitely regret it today.”

“Don’t bluff!” Li Qin interrupted again, laughing mockingly. “I’ve seen this trick of yours more than once – it really fooled quite a few people. But this time, no matter what you say, we must first sign this contract. Once the Lianghuai salt fields are in hand, even with a thousand clever schemes, you can’t take them back from the British. Gu Pingyuan, your tricks might fool country bumpkins, but trying to fool the British? Dream on.”

As he spoke, he practically “snatched” the contract from the secretary’s hands, smoothed it out on the table. Taipan John walked over and stood somewhat arrogantly on one side, while the other side should have Zeng Guofan representing the court.

“Governor Zeng, please sign this contract.” Li Qin shouted aggressively.

Everyone present, whether official or civilian, had sweaty palms. Li Qin was right about one thing – once the Lianghuai salt fields fell into British hands, getting them back would be harder than reaching heaven. Zeng Guofan’s advisors and subordinates, seeing their superior about to take the blame for the court and earn eternal infamy while being insulted by such a conscienceless scoundrel as Li Qin, were so angry their teeth chattered.

However, foreigners couldn’t be offended. Everyone could only watch helplessly as this great humiliation occurred in the Liangjiang Governor’s office.

Under everyone’s gaze, Zeng Guofan showed no expression. This time he not only looked at Gu Pingyuan but asked aloud: “Master Gu, should I sign this contract or not?”

“Of course you should sign it.” Gu Pingyuan’s words shocked everyone, but he quickly continued: “Only not with the British, but with me.”

“Hahaha!” Li Qin burst into wild laughter, pointing at Gu Pingyuan. “I see you’ve lost your mind. Yes, a madman! You all saw – this is clearly a madman. Why don’t you throw him out? Will the dignified Qing Governor’s office allow a madman to speak nonsense?”

Everyone turned away, unable to bear watching Gu Pingyuan. Many truly thought he’d gone mad from anger and frustration. Even those watching him did so with pity and sympathy. Secretary Hao stamped his foot: “Sigh, I’ll help him down. Really, why come here to let that bastard Li Qin mock and humiliate him?”

He had just taken one step when hurried footsteps came from outside the second hall.

“Richard.” Taipan John was startled. “What are you doing here from Shanghai?”

“Taipan, the ship from Yokohama just arrived at Shanghai dock last night. This is an urgent telegram translation from Yokohama Telegraph Office, sent from India, saying it must be delivered to the taipan immediately, so I came by carriage.”

“What’s so urgent?” Taipan John asked irritably, taking the telegram and scanning it. He suddenly shuddered, his expression freezing as his arrogant rudeness instantly vanished, replaced by extreme terror.

He slowly raised his head, searching for someone in this vast hall. Finally his gaze fell on Gu Pingyuan, who was already looking at him with mocking eyes.

“Mr. John, I propose one last time – will you speak with me privately?” Gu Pingyuan’s voice rang out. This time people were amazed to discover that Master Gu’s voice was full of authority – they’d never heard anyone speak to foreigners in such a tone.

“Fine, let’s talk.” Taipan John answered immediately, as if afraid that answering late would make Gu Pingyuan leave in anger.

Watching Gu Pingyuan, Li Qin, and Taipan John enter the side room, the second hall immediately erupted in buzzing voices. People’s curiosity was about to burst. Disregarding the Governor’s presence, they surrounded the Shunde Tea House group, asking questions in chorus. But Secretary Hao, Manager Peng, and the others were equally confused about why the foreigners had suddenly softened and whether there might be a turnaround, leaving them tongue-tied.

Outside was extremely lively, but the side room was like an ice cave – no one spoke, or rather no one wanted to be the first to speak.

After a long standoff, Li Qin finally couldn’t stand it. Holding the telegram, staring at it like a mouse knowing it had stepped into a trap, his voice carried ferocity and despair: “This is where your goods went?”

“These silk, tea, and miscellaneous goods have reached the border between Qing and India. The pack train is waiting for news. With just one order via carrier pigeon, these goods worth tens of millions of taels will completely crush the East India Company’s local market.”

“East India Company…” Taipan John let out a groan. His gaze instantly became very pained – this snake had finally been struck at its vital seven-inch point. He couldn’t understand how this Qing merchant had set his sights on India thousands of miles away. In British eyes, these Qing people were all ignorant, arrogant country bumpkins who foolishly believed their country was some “Celestial Empire” and their emperor the ruler of the whole world.

That such a country’s merchants would choose to fight a trade war with the British Empire in a neighboring country?! Before today, if someone had warned Taipan John this would happen, he would have laughed heartily and considered them mad. Yet this insane scene was now unfolding before his eyes, like an inescapable nightmare.

“Don’t underestimate Qing merchants. Years ago in Beijing I knew a British merchant named Charles Lin – he was a good man and my friend. From him I learned much about British merchants. This time I specifically sent people to Shanghai to investigate Jardine Matheson’s assets and incidentally learned about your business dealings everywhere.” Gu Pingyuan spoke calmly, yet each word was like an arrow shot at these two men.

“I hear Jardine Matheson is the East India Company’s largest creditor. If that company collapses because you provoked Qing merchants’ retaliation and caused the East India Company’s downfall, please tell me – would merely obtaining a salt field make you meritorious without fault, or balance merit and fault?”

Of course not! That would completely destroy Taipan John’s career. Compared to China, India as a complete colony was Britain’s inexhaustible source of wealth, an absolutely vital market that couldn’t be lost. If what Gu Pingyuan described became reality, Taipan John knew exactly what miserable fate awaited him – he might spend the rest of his life in a dungeon never seeing daylight.

“Mr. Gu, we can negotiate – everything can be negotiated. As long as you don’t let these goods cross the China-India border, I can abandon this competition.” Taipan John was after all cunning and experienced. He immediately realized that since the telegram from Delhi via Yokohama was inquiring about this matter, it meant the cargo-laden pack train was ready. He’d seen that massive convoy with his own eyes and knew that along the lengthy border, there was no way to stop these fierce, fearless muleteers from crossing with their pack trains.

Gu Pingyuan said nothing, only silently staring at this once-arrogant Englishman.

This silence was more intimidating than thunderous rage. Taipan John’s voice began to carry a trace of pleading: “Mr. Gu, India’s market is very cheap – your goods there won’t fetch good prices. Why should we both lose? Please accept my suggestion – both sides step back. I guarantee Jardine Matheson will give you favorable treatment in all future business…”

“You’re still lying even now!” Gu Pingyuan rebuked. “The Indian market has been controlled by you for decades. With your greed, how could you sell goods cheaply to the local people?” He paced back and forth. “In my judgment, even selling at double the price, these goods would still be in short supply. Otherwise, let’s test it and see if it’s really a lose-lose situation as you claim!”

“No, no!” Taipan John cried out in panic. Having just come from India, he knew the situation there all too well. Forget double – even at triple or quadruple prices, these goods would be snapped up by locals, and from then on they’d find every means to establish underground trade with Qing merchants. Britain’s monopolistic market advantage would be instantly destroyed.

“Mr. Gu, what are your conditions? I’ll comply.” Taipan John muttered quietly.

“From just now, you’ve finally said one correct thing. This matter is no longer for you to decide.” Gu Pingyuan stood up abruptly, and Taipan John looked up at him in shock.

“Listen carefully – these are my conditions…”

When these people didn’t emerge after some time, with even the usually loud foreigners completely silent, everyone stared at the side room and gradually began discussing again. Now people were more curious than anxious, wondering why the foreigners, despite having the upper hand, were swayed by Gu Pingyuan’s words.

“Your Excellency, let me go see.” Secretary Xue worried Zeng Guofan was getting impatient.

“Don’t disturb Master Gu. The fire must cook the pig’s head tender. If you barge in, you might ruin this pot of rice.” Zeng Guofan unusually used folk saying.

“From Your Excellency’s words, do you know what Master Gu is discussing with the foreigners?” Secretary Xue probed.

Zeng Guofan shook his head: “I’ve seen many foreigners – all unreasonable when they have the advantage. Listen to how quiet the side room is now – clearly the foreigners’ arrogance has been deflated.”

Secretary Xue finally understood, silently praising Zeng Guofan’s keen insight. He wanted to ask more details when he glimpsed the side room door opening.

Gu Pingyuan walked steadily to the center of the hall, still maintaining his neither humble nor arrogant demeanor. Looking around at everyone, when people’s eyes met his, they felt his gaze was so profound it was hard to look directly at. They heard Gu Pingyuan say word by word: “Honored officials and fellow merchants, Jardine Matheson’s Taipan John has agreed with me to abandon this competition and no longer participate in the struggle for Lianghuai salt field management.”

Though everyone harbored this hope and wished for some miracle, after Gu Pingyuan spoke it aloud, the entire hall fell silent – you could hear a pin drop. People turned their gazes behind Gu Pingyuan, and seeing Taipan John’s ashen face, they realized – what Gu Pingyuan said was absolutely true!

Gu Pingyuan watched the jubilation before him. Even those officials who usually showed no emotion couldn’t contain their inner ecstasy, rising with beaming faces. His eyes also unconsciously carried a trace of smile.

“Everyone, I haven’t finished speaking.” Gu Pingyuan’s voice quieted them again. People looked at him expectantly – they were certain this man would bring only unexpectedly good news today.

“As everyone knows, I recently made large purchases. Now Jardine Matheson has bought all these goods, using the silver originally prepared for competing for the Lianghuai salt fields.” Gu Pingyuan’s understated remark stunned everyone, even Zeng Guofan paused and looked at Gu Pingyuan with disbelief.

Now people weren’t just silent – faced with something they knew was impossible yet happening before their eyes, in extreme shock they couldn’t utter a single word.

“Governor Zeng, since Jardine Matheson has abandoned the competition, shouldn’t the matter of investing in the Lianghuai salt fields be decided by Qing merchants?” After getting Zeng Guofan’s nod of approval, Gu Pingyuan announced: “Since the foreigners invited everyone to witness today, let me clarify the Lianghuai salt field matter publicly. Honestly, thanks to Jardine Matheson’s patronage, we Qing merchants profited greatly from this deal.”

Gu Pingyuan had earned nearly double his usual profit from this transaction, while Taipan John’s heart was bleeding. But there was no choice – he’d dug this pit himself and now had to fill it.

“The silver is here. The silver that should go to the Ministry of Revenue treasury – that ten million taels of indemnity the national treasury paid out – we merchants are sending it back.” Gu Pingyuan declared forcefully. “Salt field shares will be distributed according to how much each merchant guild contributed. The remaining profits from this deal will serve as future public expenses for the salt fields. Fellow merchants, is this arrangement fair?” Before Gu Pingyuan finished asking, thunderous applause filled the hall.

“Actually using the opponent’s silver to buy the Lianghuai salt fields, and that opponent being the British – truly remarkable.” Zeng Guofan watched Gu Pingyuan surrounded like stars around the moon, a smile playing at his lips. Secretary Xue noticed with amazement that the Governor who always prided himself on “unmoved heart” had tears glimmering in his eyes.

“Gu Pingyuan!” Watching Gu Pingyuan being escorted out by the crowd, Li Qin ground his teeth on the name. Since learning of Jardine Matheson’s inevitable defeat, Li Qin hadn’t spoken again. Like a dog with its spine removed, all he could do was glare venomously at Gu Pingyuan with poisonous arrow-like eyes, as if trying to pierce his internal organs.

Yet the current scene was like two red-hot curved knives gouging Li Qin’s eyes. He watched helplessly as the merchant guilds regarded Gu Pingyuan like a deity, watched helplessly as those high-ranking officials looked with infinite admiration at this “exile,” watched helplessly as everything he’d once yearned for was now held in Gu Pingyuan’s hands.

What Li Qin found most unbearable was that Gu Pingyuan hadn’t glanced at him once from beginning to end, as if he were a small stone by the roadside not even worth worrying about tripping over.

Previously when losing to Gu Pingyuan, at least the other’s contemptuous or angry gaze could still inspire Li Qin’s courage and determination to compete again. He even longed for Gu Pingyuan to look at him with hostility and hatred – at least then what he did would have meaning. But this time there was nothing. Gu Pingyuan’s gaze swept over Li Qin several times as if he didn’t exist. This complete disregard was more humiliating than being knocked to the ground.

Lions and tigers aren’t frightening – after all, someone can always kill tigers and fight lions. But facing a soaring roc, grasshoppers in the grass can only watch it fly high and far, knowing from their hearts that the roc bird ninety thousand li above will never look back.

Li Qin knew that this time, he had utterly and completely lost, with no chance of recovery.

“Gu Pingyuan!!!” That desperate wail, like a wolf’s howl, echoed long in the Governor’s office.