“Sir, you are too kind-hearted. You do not consider how treacherous people’s hearts can be.”
The Ninth Princess said, “If you waive all handling fees, it will certainly cause upheaval in the industry. Then, if other money houses send people to cause trouble, depositing and withdrawing money all day long, how does sir plan to deal with it?”
“This…”
Jin Feng was stumped by the question.
This was indeed a problem.
He was still influenced by habitual thinking.
Many of his ideas remained rooted in the society before he transmigrated. At that time, the internet was fully widespread, the cost of depositing and withdrawing money was very low, and all banks charged no fees for transactions within their own branches. He had grown accustomed to it.
But Dakang had no computers, no internet. Everything in a money house relied on manual operations.
Labour costs were countless times higher than in his previous world.
The marketplace was also a battlefield. To defeat competitors, many merchants would stop at nothing.
The scenario the Ninth Princess described had a high chance of occurring.
Since deposits and withdrawals were free anyway, they could just send people to sabotage.
Casually find a dozen or so people to queue in turns, and it could paralyse Jin Feng’s money house branches.
“Your Highness makes a valid point. This is indeed a major hidden danger. It was my oversight.”
Jin Feng thought for a moment and said, “Then what does Your Highness think would be an appropriate handling fee?”
“I suggest that sir’s handling fees should at least ensure the money house does not lose money. Only then will no fatal vulnerabilities be left for others.”
The Ninth Princess put down her chopsticks and said seriously, “Of course, I do not understand money houses. The specifics of how to do it still need sir to decide himself.”
“Your Highness makes a valid point.”
Jin Feng picked up his teacup, raised it towards the Ninth Princess in thanks.
The Ninth Princess lifted her teacup and took a sip.
Jin Feng also drank some tea, carefully pondering the Ninth Princess’s advice.
The handling fees at other Dakang money houses were extremely high. In fact, whether Jin Feng charged half the fees or made it completely free, the effect would be the same.
Those wanting to save money would still come if it was half price.
Those who did not want to come would still stay away even if it was entirely free.
Having thought this through, Jin Feng decided to delay the money house matters for a few days. He would first investigate Xichuan’s prices and labour costs clearly before making a decision.
The Ninth Princess seemed in a good mood that day. She chatted with Jin Feng for a long time, until the sky was completely dark, before returning to the residence with Qing Mulang.
When leaving, she still seemed a little reluctant.
From childhood in the palace, she had been bound by all sorts of strict rules. She was simply infatuated with this carefree atmosphere.
Only here could she let down her guard and speak freely.
Jin Feng also gained a lot of insight into the Dakang officialdom from conversing with the Ninth Princess. It was quite beneficial.
Back in his room, Runniang was making the bed.
While busying herself, she secretly glanced at Jin Feng.
Before coming, Guan Xiaorou had reminded her openly and subtly to share a room with Jin Feng, lest he misbehave in Xichuan city.
In Guan Xiaorou’s eyes, Tang Dongdong and Runniang had been Jin Feng’s people from the day they entered the household. Sharing a room was only a matter of time.
She did not mind Jin Feng taking Runniang, but she did not want him visiting brothels and getting involved with dubious girls.
In fact, Runniang herself thought the same.
But after all, she was an unmarried maiden, as traditional as Guan Xiaorou, and without any formal status. She really felt too embarrassed to speak up actively.
She could only quietly make the bed, waiting for Jin Feng to say something.
As long as Jin Feng spoke, she could stay.
Unfortunately, Jin Feng only greeted her when entering the room, then sat at the table writing and drawing the whole time, with no intention of keeping her.
Runniang sighed inwardly, finished tidying the bedding, and left silently.
Jin Feng watched Runniang’s retreating figure, his eyes full of complex emotions.
He was not truly made of wood. How could he fail to understand the intentions of Guan Xiaorou and Runniang?
Runniang was actually quite attractive. Previously she had been dark and thin, looking rather plain.
After following Jin Feng and no longer needing to work in the fields, she had now become fair and neat. Her hair was glossy and thick, her face increasingly delicate.
Moreover, Runniang’s temperament was even softer than Guan Xiaorou’s. She would do whatever was asked. To say Jin Feng had never been tempted would be false.
But every time, he only thought about it. When the opportunity truly arose, he backed down.
After finishing writing the items to investigate tomorrow, Jin Feng extinguished the lamp and went to sleep.
Perhaps because of the new environment, or perhaps his mind was unsettled, Jin Feng kept dreaming that night.
The next morning, he still felt somewhat listless.
“Sir, I see your complexion is not good. Perhaps do not go out today. Shall I have Runniang come to take care of you?”
One of the personal guards noticed something off with Jin Feng’s complexion and said worriedly.
“No need. I will just wash my face with cold water.” Jin Feng waved his hand.
The guard was about to persuade Jin Feng further when he spotted Da Liu approaching, so he said, “Captain, persuade sir. Look how poor sir’s complexion is.”
“What is there to persuade? If sir had kept Runniang last night, or taken us to Hanxiang Tower for a visit, everything would be fine.”
After speaking, Da Liu winked at Jin Feng. “Sir, I hear the girls at Hanxiang Tower are excellent. When you have time, take us to broaden our horizons.”
“If you want to go, go yourself!” Jin Feng glanced at Da Liu. “Go call Cabinet Manager Ruan over. We will head out together shortly.”
Cabinet Manager Ruan was the female manager of the Jinchuan Chamber of Commerce in Xichuan city, named Ruan Tongjie. She was also one of the first batch of female managers recruited by Tang Xiaobei.
Her abilities were excellent. She managed the Xichuan outpost in perfect order.
Hearing Jin Feng call for Ruan Tongjie, Da Liu’s gossip instincts flared again. “Sir, you would not happen to fancy Manager Ruan, would you?”
“Get lost!”
Jin Feng kicked Da Liu in the backside.
Da Liu chuckled foolishly, not angry at all, and walked off humming a tune.
In the following days, Jin Feng had Ruan Tongjie arrange a large number of people to conduct market research in Xichuan city.
The research covered shop rents, wages, consumption, and various other aspects.
The Ninth Princess learned of this and was very interested. She proactively came to help.
With the Ninth Princess’s assistance, the investigation proceeded very smoothly.
After a series of calculations, Jin Feng finally decided that for deposits and withdrawals under one thousand taels, he would charge forty percent of other money houses’ handling fees.
Between one thousand and five thousand taels, thirty percent.
Between five thousand and ten thousand taels, twenty percent.
Over ten thousand taels, only ten percent of other money houses’ fees.
This way, not only could the money house profit from handling fees alone, but it would also encourage merchants to deposit more silver.
In the future, when there were more customers, business was better, and operations more proficient, fees could be reduced as appropriate.
When Ruan Tongjie first came to Xichuan, Tang Xiaobei had instructed her that Xichuan was the chief prefecture of Chuanshu and would certainly be a key development target for the Jinchuan Chamber of Commerce in the future. Therefore, the shops Ruan Tongjie purchased were not only in good locations but also very spacious.
Jin Feng did not even need to find another place. He simply had the Jinchuan Chamber of Commerce vacate one shopfront, slightly modify the counters, and the Jinchuan Money House officially opened for business.
As a result, three days after opening, apart from the Ninth Princess and Qing Xinyao, not a single customer came voluntarily…
“Sir, both Wuyang and my brother said not to let you open a money house. You refused to believe it. Now look, not a single person has come.”
Qing Mulang said with some schadenfreude.
