Chapter 0003: Door-to-Door Debt Collection
Xie Xiaowan, who was chopping firewood in the yard, rushed out quickly, took the cloth bag from Xu Jin's hands, opened it, and exclaimed in surprise: "Husband, you really have brought rice!"
Xu Jin glanced at it and saw that it stated: This is a loan of fifty wen from Xu Jin of Xu Family Village, with an interest rate of three percent and three, to be repaid within three months. Words alone are not sufficient as proof, thus this serves as evidence, dated the twenty-fifth day of the eighth month in the twelfth year of the Zhengde era of the Ming Dynasty. A fingerprint was stamped at the place of the signature.
Xu Jin sighed softly and turned back, saying gently: "Xiao Wan, please take out that bag of rice!"
Xu Youguang chuckled twice with a smile, while casting a peculiar glance at Xu Jin. This fellow seems a bit different, not as dull as before. Could it be that he drank a bellyful of river water this morning and has suddenly become enlightened?
Xu Jin took the IOU and tore it up, apologetically saying: "I have troubled you today, Second Brother"
Hello, I usually only accept silver and not goods, but considering your straightforwardness, I will accept rice in place of silver. However, Xu Laoshi, you just mentioned that a dou of rice is worth only 100 wen in the market, yet your family owes a total of 118 wen, which means you are still short by 18 wen
Oh! Xie Xiaowan returned to the room and reluctantly placed the sack of white rice on the ground
In the Ming Dynasty, in order to prevent peasant uprisings, a strict system of mutual responsibility known as the "Baojia" system was implemented. Every 110 households were organized into a "li," with 10 households forming a "jia." The head of the "li" served as a minor leader, and if any individual committed an offense, all members would be held accountable, particularly the head of the "li" who was responsible for maintaining order.
Xu Jin's expression was calm, and he replied neither humbly nor arrogantly: "Butler Guo's words are too heavy. My father was a successful candidate in the provincial examination of the sixteenth year of the Hongzhi reign, and there are still a few contemporaries in the county who are well-regarded."
"Guo, please wait a moment, and kindly leave the IOU behind!" Xu Jin said
Guo Quan's horse face immediately elongated, and he coldly laughed, "Xu Laoshi, according to the rules, if you repay in advance, and it is less than a month, the interest will still be charged as for one month. I see that you are young and easy to talk to, so I am being polite, but do not take yourself too seriously. Can you just say that 18 wen is settled just like that?"
Butler Guo chuckled and said, "Old Xu, there is no doubt that it is time to repay the money!"
Hey, who said that Old Xu Ten drowned in the river? Isn't he alive and well?
"So it is you, Guo the steward. What brings you to personally visit?" Xu Jin said, maintaining a calm demeanor.
Oh, there is one more thing I need to mention to Shidi. Shidi is almost fifteen years old now, and next year he will have to serve in labor duty. I estimate that he will be tasked with clearing and dredging the waterways
Xu Jin quickly recalled the information about this rat-like figure; his name was Guo Quan, the steward of the prominent Guo family in town. While he could not be described as utterly wicked, he was certainly not a good person, and his visit could only mean trouble.
Upon hearing this, Guo Quan's expression changed dramatically, and he glared fiercely at Xu Jin, coldly saying: "Xu Laoshi, are you threatening me?"
Xu Jingang was about to enter the courtyard when a voice, sharp and grating like a broken gong, suddenly came from behind him. He turned around to see four individuals approaching. The speaker was the one in the middle, who appeared to be in his forties or fifties, sporting a pair of whiskers resembling a mouse, dressed in the attire of a steward. Behind him were two young servants in green attire and caps, while the fourth person was the village head, Xu Youguang.
The village head Xu Youguang handed the IOU to Xu Jin, giving a thumbs up in admiration. Xie Xiaowan, the young girl, also looked at him with starry eyes, exclaiming how impressive her husband was, as he managed to send the debt collector Guo Papi away in just a few words.
Xu Jin nodded and said: "Indeed, there is truly no money at home. This one dou of rice should be worth at least one hundred wen at market price. I hope Steward Guo can be accommodating!"
In the Ming Dynasty, one stone was approximately equal to 120 jin, with 10 liters constituting one dou, and 10 dou equating to one stone, thus one dou of rice weighed around 12 jin
Threat, stark | A blatant threat indeed
The village head Xu Youguang and Xu Jin are of the same generation, ranking second in the clan. He is already in his thirties, nearly two circles older than Xu Jin
Butler Guo, twirling a mouse whisker, said slowly: "Old Xu, although your words are pleasant to hear, official matters must be handled officially. The money your family borrowed should also be repaid"
Do not be misled by the interest rate of merely 3.3%, as this is calculated monthly with compound interest. For example, if you borrow 50 wen, after one month it will increase to 67 wen, after two months it will become 89 wen, and after three months it will reach 118 wen, more than doubling the amount, which is exceedingly excessive
Xu Jin smiled and said: "Thank you, second brother, for the reminder; I have benefited from it!"
When Xie Xiaowan smiles, her eyes curve into the shape of crescent moons, which is very beautiful. Moreover, her features are exquisite, although her skin is a bit dark. Otherwise, in today's middle schools, she would definitely have no problem being regarded as a class beauty.
Xu Youguang smiled and said: "It's not troublesome at all. I just realized how impressive the Tenth Brother is. That guy Guo Bapi has always been the one to take advantage of others, yet today he actually suffered a setback in front of the Tenth Brother. Tsk tsk, it truly brings joy to the heart. However, the Tenth Brother should be cautious of that fellow's retaliation, for Guo Bapi is quite cunning!"
Previously, Xie Xiaowan had attempted several times to ask Xu Youcai for grain, but this cunning and shrewd couple had evaded her with various excuses. Unexpectedly, after her husband went for a while, he was able to easily obtain the grain.
Xu Jin stood awkwardly in place, not because he intended to tease, but rather out of a gesture of an elder's fondness for a younger person. It is said that Xu Jin's mental age is nearly sixty, making him old enough to be this girl's grandfather, and naturally, he harbored no such sordid thoughts
Xu Jin carefully recalled and frowned, saying: "Butler Guo, are you mistaken? I have never borrowed money from Master Guo!"
Due to a deep awareness of the dangers posed by usury, Emperor Hongwu Zhu Yuanzhang mandated that the interest rates for private loans must not exceed 3 percent. This was later explicitly enshrined in the "Great Ming Code," which strictly prohibited interest rates exceeding 3 percent, stipulating that the annual interest income must not exceed 100 percent of the principal. Those who dared to violate this would receive forty lashes, and their illegal gains would be confiscated. In severe cases, they would be subjected to one hundred heavy strikes. Do not underestimate the severity of one hundred heavy strikes; when inflicted on the buttocks, it could result in months of bed rest at best, or even death at worst. The annual interest income must not exceed 100 percent of the principal, and those who dared to violate this would receive forty lashes, with their illegal gains confiscated. In severe cases, they would face one hundred heavy strikes. Do not underestimate the severity of one hundred heavy strikes; when inflicted on the buttocks, it could result in months of bed rest at best, or even death at worst
Hey, you didn't borrow it, but your wife did. Here is the IOU, in black and white!" Guo Quan leisurely took out a piece of paper and unfolded it
Xu Jin's heart sank involuntarily, and he truly wanted to curse, "Damn it, this troublesome matter comes one after another, is there no end to it?"
Butler Guo snorted coldly, tossed the IOU to the village head Xu Youguang beside him, and then walked away in displeasure, while the bag of white rice was naturally taken away by the house servant
Certainly, the Guo family dares to engage in usury not without justification, and they may not fear the connections of a mere scholar. However, this matter is indeed illegal; it is one thing to bully honest and simple farmers, but dealing with someone like Xu Jin, who understands the "Great Ming Code," is somewhat tricky. It is truly unnecessary to take risks for just a few coins.
"Xiao Wan, is this money borrowed by you?" Xu Jin turned around to ask Xie Xiao Wan, who had just walked out of the room. The latter nodded with a pale face, her frail body trembling in fear.
Xu Jin instinctively reached out to scratch the little girl's nose and laughed, "Could it be that I would deceive you!"
The loan date on the promissory note is August 25, and indeed, there are still ten days left until three months are complete. The reason Guo Quan hurriedly came to demand repayment is that he heard Xu Jin, this sickly man, fell into the river today, and he is worried that he might die. If that young widow sells off her land and runs away, then the money that was lent out will be impossible to recover.
Xu Jindan stated: "The current dynasty's 'Great Ming Code' explicitly stipulates that for private release of debts and pledged property, the monthly interest must not exceed 3 percent. Regardless of the duration, it shall not exceed the principal and interest. Those who violate this shall receive forty lashes, and any excess interest will be counted as embezzlement. In severe cases, the offender shall be punished according to the embezzlement laws, with a maximum of one hundred strokes of the cane"
Guo Quan's expression changed again, as he recalled that Xu Jin's late father was a scholar in this county. Although scholars hold no real power, they do have connections, and it is possible that one of their contemporaries might have indeed become an official this year.
Oh, look at them, they are indeed different after having received an education. Xu Lichang, you should learn from them! Guo Quan had a beaming smile on his face, and he was quite pleased with the title of chief steward.
Xie Xiaowan's face immediately flushed red, and she stammered: "I... I am going to cook for my husband!" After saying this, she hurriedly ran into the house with a bag of rice in hand
Xu Jin returned to his home yard carrying 12 pounds of rice, already exhausted to the point of having sore hands and weak legs; this body is truly too frail
Guo Jia charges an interest rate of 3.3%, and the profits earned in three months have already exceeded 100%, which clearly violates the regulations of the Ming Dynasty law
Xu Jin secretly breathed a sigh of relief; this time, he had to thank that bookworm's memory for having thoroughly studied the "Great Ming Code". Otherwise, it would have been quite difficult to scare Guo Quan away today.
Xu Jindan said: "Guo Butler, isn't it still ten days until the due date? Then let's just forget about the interest of 18 wen!"
Guo, the steward, pondered for a moment and finally sneered, "Hehe, truly worthy of being a scholar!" After saying this, he flicked his sleeve and intended to leave
Butler Guo opened the bag and scooped out a handful of white rice to examine its quality, then clapped his hands and said with a forced smile, "Old Xu, what do you mean by this? Are you using rice in place of silver?"
Although the Guo family is a prominent household nearby, no amount of money holds any weight in front of the officials. Even if it is just a low-ranking clerk in the county office, there are plenty of ways to deal with the Guo family.
Behind Guo Quan, two burly servants revealed fierce glints in their eyes, rolling up their sleeves in preparation to strike.
Xu Jin frowned slightly, not because he was blaming Xie Xiaowan. This sensible girl was likely borrowing money to raise funds for her own medical treatment, but the interest was simply too exorbitant