Wu Mingyue stood frozen, stunned for a long moment before she finally reacted. That scoundrel had taken advantage of her. Her beautiful face flushed, pupils dilating. She clutched her chest, feeling her heart pound violently, as if it would burst out at any moment. Moments later, an angry yet embarrassed voice echoed through the newspaper office. At the palace, a palace maid approached Yang Yi with a respectful bow. “Prime Minister Yang, Her Majesty summons you urgently…” Yang Yi paused, slightly taken aback. He had been preparing to see the Empress himself, but it seemed she had summoned him first. Not long after, he arrived at Qianyuan Hall, where he found Xu Jingzong, Zhang Jianzhi, Yao Chong, Song Jing, and several others already gathered. Wu Zhao gave him a slight nod upon his arrival. “Minister Yang is here. Wan’er, you may begin…” All eyes turned to Shangguan Wan’er as she pressed her lips together, her expression serious. “A few days ago, Great Zhou minted the Great Zhou banknotes, replacing gold, silver, and copper in commercial trade. The Ministry of Revenue also adopted Minister Yang’s proposal to establish a state-controlled bank. “While not all citizens fully accepted the banknotes at first, their implementation within Great Zhou was not too difficult.” She hesitated for a brief moment before continuing, her brows slightly furrowed. “However, when the Great Zhou banknotes were introduced into Qing, Song, and Turk territories, their acceptance became much more challenging. “The people fear these notes will one day become worthless and refuse to use them. Even those who do receive them spend them immediately, unwilling to hold onto a currency they do not trust.” The hall fell into a heavy silence. Xu Jingzong, Wei Yuanzhong, Zhang Jianzhi, Yao Chong, and Song Jing exchanged glances, their brows deeply furrowed. They had long been aware of the Empress’s intent to establish the Great Zhou banknotes, but they had underestimated the resistance in the conquered regions. At first, it had seemed like a simple matter. However, the reality was that the people in those territories strongly resisted the new currency. They had long been accustomed to using silver and copper, and placing their faith in newly issued banknotes was no easy task. Wu Zhao’s phoenix eyes sharpened, a serious expression settling over her cold yet dignified features. “The Turks are a different matter. They lacked the ability to mint their own coins and primarily relied on foreign currencies in the past. But Qing and Song are another story entirely. “They have their own established monetary systems. While they may not object to using their currency in daily transactions, they are highly resistant to exchanging it for Great Zhou banknotes.” Her voice carried a sharp edge as she continued. “Even though Great Zhou has conquered these territories, if we fail to resolve this currency issue, it will weaken our rule. I intend to completely replace silver and copper with Great Zhou banknotes in all transactions.” Her words sent ripples of unease through the room. The officials exchanged uncertain glances. The Empress was clearly determined to make Great Zhou banknotes the empire’s sole currency, meaning all silver and copper would be collected into the national treasury. This wasn’t just a matter of enforcing policy in Great Zhou. The people in the newly annexed regions would undoubtedly resist. After all, who could guarantee that these banknotes wouldn’t one day become worthless paper? Seeing the hesitation in the room, Wu Zhao’s gaze turned cold. “What concerns me most,” she continued, her voice crisp, “is that while our Great Zhou banknotes remain unstable in value, a group of profiteering merchants has emerged. They exploit the fluctuating exchange rates between banknotes and silver, taking advantage of the instability to amass wealth. It is utterly detestable…” The hall grew tense. No one had expected such widespread difficulties in implementing the new currency. Wu Zhao’s brows drew together sharply. “I issued Great Zhou banknotes in Qing’s capital and Song’s Bianjing. These cities were once the political and economic centers of their respective nations. If our banknotes were to gain stability anywhere, it should have been there. Yet now, their value has plummeted nearly tenfold.” Her voice hardened. “If this continues, our Great Zhou banknotes will become nothing more than worthless paper. Ministers, do you have any strategies?” Silence stretched across the hall. Yang Yi stroked his chin, lost in thought. The states of Song, Zhou, and Qing each had their own well-established minting systems. While gold and silver were universally accepted, the minting of copper coins differed across regions. Replacing metal currency with Great Zhou banknotes served two purposes—it allowed the government to reclaim gold, silver, and copper while also unifying the monetary system. Even though the copper coins of Qing, Song, and Zhou weren’t vastly different, the importance of standardizing currency could not be ignored. After a moment, Yao Chong finally spoke. “Your Majesty, I believe the court could sell one million ounces of silver to curb the decline of the Great Zhou banknotes.” The officials turned toward him with interest as he continued. “These profiteers have been exchanging Great Zhou banknotes for silver, driving up its price. As a result, the common people, seeing the rising value of silver, have followed suit, triggering a chain reaction that has further devalued our banknotes. “But if the court were to release silver into the market, it would restore public confidence. As silver prices fall, the value of Great Zhou banknotes would naturally stabilize.” Several officials nodded in agreement. Yao Chong’s approach seemed reasonable. Wu Zhao, however, remained thoughtful as she turned to Yang Yi. “Minister Yang, what do you think?” Yang Yi’s brows knitted together slightly. “Selling silver to curb the inflation of Great Zhou banknotes is a reasonable approach… but there is a flaw.” Tʜe sourcᴇ of thɪs content ɪs novel·fiɾe·net His tone was calm but firm. “Those profiteers—ah, what I mean is, those unscrupulous merchants—are deliberately taking advantage of the situation. If we inject silver into the market, they will undoubtedly buy it all up. “Unless the court possesses enough reserves to continue selling until these people are forced to stop, then throwing a limited amount of silver into circulation will accomplish little. It would be like tossing a stone into the ocean. The banknotes’ value would continue to plummet.” A heavy silence settled over the room. “These profiteers are exploiting the exchange rate between silver and our banknotes,” Yang Yi continued. “If our silver reserves are insufficient, we will only be giving them free money while further eroding public confidence in the Great Zhou banknotes. And confidence, Your Majesty, is far more valuable than gold.” He paused briefly, then added, “A banknote without trust is nothing more than a scrap of paper.” Murmurs spread through the hall. Even Xu Jingzong and the other senior officials, who had initially supported Yao Chong’s proposal, now hesitated. Yao Chong’s plan had seemed sound, but Yang Yi had exposed glaring weaknesses in it. Xu Jingzong stroked his beard thoughtfully. “Then does Minister Yang have a better solution?” All eyes turned toward Yang Yi, their expressions a mix of curiosity and skepticism. His reputation as a military strategist was undisputed, but could he navigate the complexities of economic warfare? Wu Zhao’s gaze lingered on him, expectant yet unreadable. “Minister Yang?” Yang Yi remained silent for a moment, then suddenly smiled. “Your Majesty, I do have a plan… but I fear it may offend a great many people.”