1001 Financial Court Assembly (1/2)

Chapter 1001 – Financial Court Assembly

Out of the three of them, Jiang Shang would be in charge of the big picture, Kou Zhun would monitor the Imperial Court, while Yan Song would focus on the local areas.

The three of them would work together to ensure that the Great Xia machine would run smoothly. Ouyang Shuo, this ruler, would be above the Cabinet and monitor the dynasty.

...

22nd day, afternoon, Qingzheng Hall.

Jiang Shang, Kou Zhun, Yan Song, Xiao He, Wei Yang, Fan Li, and Du Ruhui had all gathered together to discuss the Financial Budget of Great Xia in the 5th year of Gaia.

Joining the meeting was Industrialization Department Director Chen Bingguang as well as Four Seas Bank Treasurer Meng Zhida.

Since the establishment of the dynasty, the management of Financial Budget had become more organized. At the start of the year, how much funds the dynasty had, what large expenditures there were, how much was the estimated income, and the like needed to be settled before the New Year.

At the end of the year, they had to evaluate the budget made at the start of the year.

Those who went over the budget would have to face the consequences.

”Let's begin!”

Ouyang Shuo sat at the throne and said expressionlessly.

Ever since he ascended, Ouyang Shuo had rarely controlled the territory matters like he would do when he was a Lord.

Now, he only maintained the big picture, and the number of times he spoke was a lot fewer.

First, there were many things that did not need him to personally say. The officials would understand what he wanted and execute on it. Secondly, he was now a king, and any word he said would affect tens of millions of lives. Naturally, he had to be careful.

Seeing which, Jiang Shang stepped out and said, ”Mister Fan, please report the expenditure of the Financial Court the previous year as well as the expenditure for this year.”

”Yes!”

Fan Li stepped out and reported, ”Last year, the Imperial Court earned 65 million gold with tax and holding earnings being the main source. There was 51 million in tax and 8.5 million from the holdings.”

The holdings included the Four Seas Bank, Shu Mountain Iron Corporation, Chinese Shipping Group, and the like.

A day ago, under Ouyang Shuo's instructions, the Industrialization Department combined cannon, armor, warship, and other forms of productions and formed a Canglong Military Work Corporation, which jumped to become the largest and most profitable corporation in Great Xia.

The Great Xia system was slowly changing. Slowly, it became the financial pillar of the Imperial Court.

”Financial expenditure was 61 million, 21 million on public facilities, 18.5 million on military, 12 million on administrative, five million on subsidies, and 4.5 million for others.”

The public expenditure included basic welfare, education, medical, basic facilities, and the like, which was why it took up the bulk of the expenditure.

Amongst the other expenditures, there was one that was special - the royal family expenditure.

The maintenance of the palace, court ladies, maidservants, Ouyang Shuo, Song Jia, Bing'er's expenditure, and the like.

Listing the royal family into it meant that Ouyang Shuo was not going to set up private funds outside of the country treasury.

In history, the imperial family and treasury funds were separate. The treasury kept taxes agriculture profits, and the like, while the imperial family funds were from tea, salt, silk, and the like.

In comparison, Great Xia had made public the sales of silk, tea leaves, and good salt. Along with the ore contract with Australia, their control of ores was also loosening.

The imperial family funds were used to feed the royal family. Usually, there would be excess funds that would be passed to the national treasury.

Of course, there were times where it was lacking.

Especially the later stages of the dynasty, where the royal family was huge. At such a time, they would be like termites corroding the foundations of the dynasty.

Each time the palace was renovated, it would use up ocean amounts of gold.

During the Ming Jiajing time, one palace fire used up seven million silver teals, using up half of their income that year.

The treasury was used to pay salary, fix roads, build bridges, irrigation, and the like. When there were catastrophes, they would use these funds to provide help. Of course, there were some rulers who used the national treasury as their own.

At the later stages of the Ming Dynasty, such acts became prevalent. The rulers did as they wished, allowing officials to take money from the people and rip them off.

Some emperors were even as corrupt as the officials, splitting the funds with them and using the money as their own.