The core of the new law was the Green Seed Law, which was quite simple: during the annual gap between the green and yellow seasons, the governnt would step in to replace usurious lenders—rich rchants and large households—by offering relatively low-interest loans to help farrs through hardships.
In addition to this, there were so other asures.
For instance, allowing households who did not want to serve mandatory labor services to pay a fee instead, which ant "those with money pay money, those with strength provide strength";
asuring land, verifying landowners, and categorizing the land based on soil quality, to serve as a basis for collecting land tax;
Encouraging the reclamation of uncultivated land and the improvent of irrigation systems;
In the capital, setting up institutions to regulate the market, purchasing unsold goods and reselling them in tis of market shortages, and so forth.
Moreover, Wang Wenchuan also proposed a series of asures for strengthening the military, such as establishing the Bao-Jia system in the rural areas and receiving military training during agricultural off-seasons; encouraging horse breeding, overseeing weapon manufacturing, and discharging old or underperforming soldiers to civilian status, among others.
After reviewing everything, Chu Ge was fairly certain there were no pitfalls.
It was indeed the content of the administrative reforms Wang Wenchuan proposed in those years, and this instance had not secretly altered any details.
Moreover, on paper, these contents were all flawless and unassailable.
The core of the new law was the Green Seed Law; if the Green Seed Law could indeed be smoothly implented, then even if the other various laws did not take effect, this reform could be considered a half success.
On the surface, asuring and verifying the land seed important, but such actions were taken by every dynasty. Which emperor in the heart of the court did not want to know exactly how much land there was in each region, how much each piece of land could produce? Which emperor did not want to collect taxes based on the specific conditions of the land?
But after all the inspections, by the end of the Wang dynasty, the taxes that should have been collected were still not, and the dynasty was still dood to fall.
So, even if this asure could be well implented, it could only provide a temporary solution, not a fundantal one. Moreover, there was a high chance it would not even effectively provide a temporary fix.
The significance of the Green Seed Law, if it could be smoothly implented, was far greater.
On the surface, the Green Seed Law was nothing more than the governnt offering low-interest loans to farrs, which might not seem like a groundbreaking move today.
But that was centuries ahead of the later proposed concept of "state intervention in the economy" by Keynesianism.
Of course, Wang Wenchuan’s reform was not the sa as Keynesianism, but this advanced way of thinking was indeed praised by later generations, and even many foreigners were amazed.
The content of the Green Seed Law was actually very simple.
During the gap between planting seasons, what could farrs do if they had no money to buy seeds or fertilizers?
Either sell their land or borrow money. And if they borrowed money, their only option was to approach rich rchants and large households. These moneyed lenders would definitely take this opportunity to demand an exorbitant interest rate, and if the farrs could not repay the loan, they would naturally proceed to consolidate land or buy off personal freedoms.
Thus, the fragile agricultural economy would suffer even more, bankrupting farrs, and the state would gain no advantage in this process.
All the benefits would accrue to these rich rchants and large households.
But if the Green Seed Law could be successfully applied, farrs facing desperation could borrow from the governnt and greatly increase their chances of overcoming difficulties. The governnt, during this process, could divert the ill-gained wealth from these rich rchants back to the state and also rotate the grain stored in its granaries; no matter how one looked at it, it was a charitable act.
However, Chu Ge, being from a later era, was very aware that Wang Wenchuan’s reforms had ended in tragic failure.
He was also clear that the Green Seed Law had ultimately not been effective as Wang Wenchuan had hoped.
If he were now to implent these new laws without any changes, then the result would be the sa as what happened to Wang Wenchuan in the past—ultimately stepping down in disgrace.
"So, the current urgent task is to think of ways to change so of these items to increase the success rate of the new law?
"Where should I start thinking...
"From the interest rate of the Green Seed Law’s loans?"
Chu Ge first thought about the interest rate of the Green Seed Law.
According to Wang Wenchuan’s regulations from those years, the interest rate of the Green Seed Law was set at 20%, and it should not exceed 30% at the most.
By today’s standards, an annual interest of 20% was clearly too high.
Moreover, after the implentation of the Green Seed Law, it indeed resulted in the bankruptcy of many farrs, which caused public outrage for a ti.
This public outrage put enormous pressure on Wang Wenchuan, which also influenced the emperor’s judgnt and ultimately beca the direct cause of his dismissal from office.
"It seems the interest needs to be lowered.
"Reduced to an annual interest of 10%? 5%?
"It seems... there are still issues."
Chu Ge pondered and suddenly realized: The problem was not entirely nuric.
No matter how low, it was not safe!
In fact, historical records showed Wang Wenchuan clearly foresaw the potential oppression the interest could cause on farrs, so he had already made preventive asures in the detailed rules of his reforms.
For example, "those who do not request it, must not be suppressed into accepting," aning the loans from the Green Seed Law were entirely voluntary; farrs who did not want them could not be forced;
And for instance, expressly setting a maximum interest rate of 30%.
If the Green Seed Law could really be implented strictly according to the standards set by Wang Wenchuan, then there would not have been situations of public outrage.
But Chu Ge was well aware that after the Green Seed Law was implented, the restrictions Wang Wenchuan set were practically in vain.
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