Zhou Kongmu secretly looked at Du Zhongxiao, who was handling official documents at his desk, hesitated for a while, and went up and whispered: "Officials, several supervisors from the cabinet have come to the yamen several times to meet the officials. Because they saw that the officials were busy, the young one asked them to wait in the side hall."

Du Zhongxiao raised his head and asked, "What are they doing in the yamen?"

Zhou Kongmu sighed: "The price of frankincense plummeted in recent days. The owner of the goods has collected a large amount of inventory because of the guarantee of the bonds of the goods. Now the cash in the Guifang is much less, and the bonds are replaced with goods and cannot be charged interest. Several supervisors are afraid that the officials will scold them."

Du Zhongxiao smiled and said, "Why do you scold them when doing business normally? I knew that this day will be there since the time of issuing the bonds."

After hearing Du Zhongxiao say this, Zhou Kongmu relaxed and said, "Although everyone knows that such a thing might happen, this time it's so scary. Today, the frankincense on the market is only 200 pounds, and no one has purchased it yet. I heard that many Western Regions merchants have lost their capital, some have lost their money and dare not return to their hometowns, and people outside are panic."

Du Zhongxiao said: "It is inevitable that people will be panic, and it will be better after a while. Don't worry about those merchants. Those who do business will lose money today and make money tomorrow. There are more scenes. Be more concerned about the poor people who follow the merchants to eat. They travel thousands of miles with the merchants, transport goods, and have no savings. It is easy to be unable to persist if they have nothing to do. People in the yamen have been concerned about these days. Anyone who lives in the city should check from time to time. If there is any difficulty, try to provide relief."

This was the first time Zhou Kongmu saw such a thing, and felt that many businessmen went from wealth to poverty, and didn't know how to survive. After hearing Du Zhongxiao's words, he felt a little relieved.

Zhou Kongmu went out and Du Zhongxiao sat alone for a while. The Song Dynasty was probably the largest unified market in this era. Things like spices were concentrated in a few regions for trade, and the scale was large. If you were not careful, it would surge and plummet. This kind of market speculation was different from the Dutch tulip crisis in history. The bubble was not particularly fragrant and was still a shortage of goods in society. At most, the prices would rise slowly.

The palace suddenly released hundreds of thousands of kilograms of frankincense, not aimed at the merchants of Tanglong Town, but was a habitual operation. When making this decision, the people in the palace were afraid that Tanglong Town would not have thought about anything, but just collected too much frankincense from the Southern Maritime Warehouse to exchange for money.

There is no need to worry about this turmoil, as long as the cabinet shop has sufficient capital and ensures social stability.

When we arrived at the side hall, several supervisors of the cabinet were waiting there. When we saw Du Zhongxiao, we hurriedly got up and saluted.

After sitting down, he gave tea, Du Zhongxiao said: "Most frankincense merchants have lost money these days, and the local area is in turmoil. You should pay more attention."

Manager Tong, who is in charge of the cabinet, bowed: "Officials are not only businessmen who do frankincense business, but also many merchants who have bought their bonds and lost money. We collected frankincense and exchanged these bonds for cash. Now we have some capital incurred."

Du Zhongxiao said: "This large-scale transaction does not require too much cash, so how can you lose money? If you repay bonds, you can let the people holding the bonds continue to store the money in the counter and issue money invoices for them."

Manager Tong said: "It was supposed to be like this. But because the frankincense merchants lost too much, many people dared not do bond business anymore. Some people did not believe in the cabinet and had to take cash in hand. Now, the price of gold and silver has risen on the market."

Du Zhongxiao was furious and said seriously: "Gold and silver should not be left in the country, and you should not violate the ban! You must keep an eye on it!"

Several supervisors hurriedly said that it was. New iron coins are easy to make, and they are equivalent to copper coins, and are allowed to leave the country. Now, in the Dongshengzhou area of ​​Khitan, new iron coins are used in the market. However, gold and silver are different and they are not allowed to be taken abroad.

When several supervisors saw Du Zhongxiao's words were harsh, they hurriedly bowed to him.

After asking about the current situation of the cabinet shop, Du Zhongxiao said: "When encountering such a big storm, the cabinet shop will inevitably be affected, and you don't have to be nervous. The more you are, the more you have to keep calm, so that your business can grow bigger. If the situation is chaotic, it will be difficult to do the future business."

Manager Tong said: "What the officials said is that after the price of frankincense plummeted, the cabinet shops of the Khitans in Dongshengzhou were different from us. They tried hard to suppress the prices of merchants, and dragged them to repay other bonds. The merchants were talking about it. Many merchants would rather transport the frankincense to Tanglong Town and sell them to us, and then use money to redeem the bonds, than let the cabinet shops of Dongshengzhou protect the bottom. In this way, we are much stronger here. Recently, some merchants there have also transferred to us and no longer save money from the Khitans."

Du Zhongxiao nodded: "That's the reason, business is done step by step."

Manager Teng on the side said: "Not only that, those who save money in the cabinet shop, because there are all-rounders, get news earlier than others, take the bonds in their hands early, and lose less than others. Other businessmen were jealous of them and learned to save money in the cabinet shop to join the cabinet shop."

Du Zhongxiao smiled and said, "Look, the price of frankincense plummeted this time, and people were in panic. But after careful calculation, there was no loss in the Guifang and the business was getting bigger. Doing this kind of business means being able to keep it and not being half-hearted. When I made money from bonds some time ago, if the Guifang followed, it would not be as good as today. You have a lot of capital in your hands, and the most important thing is to abide by the rules, which is the most important thing."

Several supervisors whispered a few words, thinking that this was indeed the case. In this storm, the businessmen and those who bought bonds were unlucky, and the cabin shop did not suffer any losses. The Khitan Gufang in Dongshengzhou bought a large amount of bonds because they could not follow the rules, and then passed on their losses to other merchants. The people's hearts were disheartening and they lost a lot of business.

The banking industry is a banker in the financial market. As long as you actively avoid risks, they will eventually benefit from each turmoil. Prices collapse and asset prices plummet. Whether it is to recover collateral or help trapped merchants purchase assets, they will harvest them at a low price. When the price rises, sell the assets in your hands at a high price, and all the previous losses will be returned.

This storm made Tanglong Town’s cabin shop a lot of money. However, the large amount of frankincense in his hands squeezed out funds, which made several supervisors feel panicked. As long as there was no problem with the funds, they were the final winners.

Seeing that Du Zhongxiao did not blame the cabinet shop, several supervisors finally felt relieved and left together.

After seeing off several supervisors, Du Zhongxiao paced alone in the side hall.

The most important thing now is not to care about who pays how much money and how to do business in the future, but to stabilize the market. Merchants lose money and the labor they hire loses their livelihood. This is the most important thing. If the yamen is not rescued properly, they have no food and clothing, and it is easy for them to get into trouble.

The frankincense business in Khotan cannot be done for the time being. At least, it must wait until the inventory of the cabinet shop is sold out. There must be other businesses to absorb the population stranded in Tanglong Town. You cannot eat and drink for nothing. When the business gets better, something will be easy to get into trouble.
Chapter completed!