Black Corporation: Joseon-Chapter 349

“Is all of that 17,000 nyang of gold in gold banknotes?”

“2,000 nyang is in gold banknotes, Your Majesty.”

“Two thousand in gold banknotes… Sigh~.”

Sejong let out a long sigh.

***

From the moment they were first printed, gold banknotes were treated differently. On the battlefield, the identity of the person exchanging them and the banknote’s issue number were meticulously recorded before handing over the gold banknote. When that banknote circulated and returned to the battlefield, the counter clerk recorded the identity of the person bringing the gold banknote and its serial number.

Only after confirming that the serial number wasn’t stolen could it be deposited into an account or exchanged for silver or copper coins. This process was identical at government monopoly stores. When gold was presented at these stores, they recorded the person’s identity and the serial number to verify it wasn’t stolen.

Although this whole process was complex and time-consuming, both the battlefield and monopoly stores strictly adhered to these rules.

This was possible because the amount of gold currency issued was absolutely and relatively less compared to other currencies.

In the process of reattempting currency circulation after previous failures, all involved were certain that gold banknotes would be used for storage rather than circulation. Therefore, they suppressed the issuance of gold banknotes as much as possible while making the management procedures more stringent. This prediction proved to be accurate.

As the Reformation progressed, Joseon’s improved economic power led to an increase in currency circulation. Thanks to the fixed exchange rate of 1:10 between gold and silver, the issuance of gold coins also increased, but as expected, the amount of gold banknotes circulating in the market didn’t increase much.

As a result, when the police officers and constables of the Capital Police Bureau responded to a report of a burglary at a wealthy household, the first things they checked were the victim’s survival and whether gold banknotes were stolen.

If gold banknotes were stolen, the local police immediately notified the situation to the local battlefield treasury. Upon receiving the police report, the battlefield treasury checked their records to confirm the serial numbers of the gold banknotes issued to the victim and reported to the central office. The main office in Hanseong immediately printed large quantities of papers recording these numbers and distributed them to battlefield treasuries and monopoly stores across Joseon, as well as to those established in Japan and Shandong.

Because of this complex process, Sejong sighed at the discovery of 2,000 nyang in gold banknotes, which rarely circulated in the market and were nicknamed “one-way tickets” (meaning once they go out, they don’t come back).

***

“Minister of Finance and Economy. Do you think those caught in this crackdown are all of them?”

At Sejong’s question, Kim Jeom shook his head with a gloomy expression.

“While it may not be just a drop in the bucket, it’s certainly not all of them, Your Majesty.”

“I suppose so… Sigh~.”

Feeling like he had suddenly been handed a massive homework assignment, Sejong let out a long sigh.

“The amount of money and assets circulating in gambling dens… Sigh~.”

At Sejong’s lament, the ministers bowed their heads uneasily.

“This is due to our lack of oversight, Your Majesty! Please withdraw your royal concerns! We will do our utmost to devise countermeasures!”

“Please withdraw your concerns, Your Majesty!”

“We will do our best to establish measures!”

Despite the ministers’ responses, Sejong’s face remained dark.

“While I don’t doubt your words, gambling has deep roots…”

At Sejong’s words, the ministers couldn’t immediately respond. Gambling, called the “nation-ruining disease,” was an incurable illness. It was easy to say they would make efforts, but it was absolutely forbidden to say they would eradicate it.

As Sejong and the ministers were sighing in front of this enormous wall, the Chief Royal Secretary announced Hyang’s arrival.

“The Crown Prince? Let him in.”

Hyang entered Geunjeongjeon Hall and paid his respects to Sejong. Receiving his greeting, Sejong asked Hyang:

“So, what brings you here today?”

Hearing Sejong’s question tinged with irritation, Hyang quickly looked around.

‘What’s this… The atmosphere is like ants preparing for a Han River meeting? Why?’

“Well, what do you want to say?”

At Sejong’s question, Hyang came to his senses and went straight to the point.

“Yes, as Joseon’s economy, or rather, national prosperity improves, the number of people wasting their wealth on gambling is increasing.”

“We’re currently racking our brains to find a solution to that very problem. We need to divert the wealth going into gambling, this nation-ruining disease, towards more constructive directions, but it’s not easy to find an answer.”

At Sejong’s words, the ministers nodded. Hyang picked up on Sejong’s words.

“Isn’t that because gambling takes place in the shadows? Therefore, I propose to bring it out into the open.”

“Bring it into the open? How?”

As Sejong and the ministers’ eyes sparkled, Hyang gestured to the eunuch who had followed him. Seeing Hyang’s gesture, the eunuch hung a chart on a nearby screen.

“Comprehensive Entertainment Venue?”

Seeing the title written on the banner, Sejong and the ministers simultaneously expressed their curiosity.

“That’s right. The reason people in Joseon today are falling into gambling is that there’s little entertainment available. When taking a break from their livelihoods, even if they want to enjoy some amusement, there’s no suitable pastime. Therefore, most people end up indulging in alcohol and gambling.”

Pausing his explanation briefly, Hyang turned the page. The next page contained tables with all sorts of figures.

“The table at the top shows the amount of alcohol sold over the past three years. As you can see, it’s recording more than twice the sales volume compared to the previous year, every year. If we consider not only the officially licensed breweries but also the amount of alcohol brewed privately in households, this volume would increase even more. Would only men have drunk all this alcohol?”

“I suppose not…”

At Hyang’s question, Sejong muttered softly. Women in the inner court were also enjoying alcohol not infrequently.

Hyang continued his explanation.

“Next is the sales volume of luxury goods. Not only luxury items sold by the Royal Workshop and other trading companies, but also silk imported from Ming is increasing at an enormous rate. Fortunately, high-quality cotton cloth above 10-ply is being replaced by calico, but this part can’t be ignored either. If we examine the cause of this situation, it’s because wealth is overflowing but there’s nothing to enjoy. Because there’s nothing to enjoy, people compete in luxury and squander their wealth on alcohol and gambling. That’s why I’m proposing the construction of a Comprehensive Entertainment Venue.”

After explaining why he came up with this plan, Hyang turned the page.

The next page showed a bird’s-eye view drawing of a building that looked like a combination of a circular arena and a large pavilion.

“This is the Comprehensive Entertainment Venue.”

Hyang explained, pointing to various parts of the bird’s-eye view with a pointer.

“This circular arena can be used for multiple purposes. From spring to fall, we’ll hold wrestling tournaments and bull fighting competitions according to the seasons.”

“Bull fighting? You mean cow fighting?”

At Sejong’s question, Hyang nodded.

“Yes. And we’ll use these competitions to run betting, allowing the government to recoup funds that would otherwise go into gambling dens.”

Hyang explained about betting on wrestling tournaments and bull fights.

– Create competition by introducing weight classes.

– Provide sufficient differentiated prize money to top performers.

– Establish Comprehensive Entertainment Venues down to the county level. This is for future nationwide competitions.

– Gather winners from the counties to hold competitions at the prefecture level, and repeat this process to hold a national competition in Hanseong once a year.

– Oversee betting on the outcomes during this process. Limit the amount that can be bet to 1 nyang of silver.

“We need to do it this way to justify it as ‘healthy betting in the open, not underground gambling.'”

“Not bad. Not bad at all.”

At Hyang’s explanation, Sejong and the ministers kept nodding.

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Seeing the positive reactions from Sejong and the ministers, Hyang continued his explanation.

– If the money placed in the betting pool, facility maintenance costs, and entertainment taxes are the primary absorption methods, we’ll also create a secondary absorption method.

– The secondary absorption method will be called ‘information papers.’

“Information papers?”

“These are papers recording information about the participating wrestlers or bulls. From basic information like height and weight to their win-loss records so far. At first, it might simply record names, height, and weight, but as matches accumulate, win rates will become important. Those who want to win their bets will certainly pay money to buy these.”

At Hyang’s words, Sejong nodded. Kim Jeom, who was listening to Hyang’s explanation, muttered softly.

“He should be in charge of the Ministry of Finance and Economy, not Area 51…”

Meanwhile, Sejong, who was listening to Hyang’s explanation, pointed out a problem.

“It sounds good, but if you’re just setting up betting like this, is there really a need to build such a building?

First, aren’t wrestling and bull fighting usually held on sandy areas near rivers?

Second, you can’t hold competitions in winter, so some people might turn back to gambling.

Lastly, this kind of betting is mainly done and enjoyed by young men. Wouldn’t its effectiveness be reduced since it’s not for women?”

“Your points are valid, Your Majesty.”

Hyang nodded at Sejong’s critique.

“That’s why we need this Comprehensive Entertainment Venue to solve these problems.”

Hyang turned the page. The next page had a new title written on it.

“Regular events and competitive tournaments using entertainers and gisaengs?”

“Yes, allow me to explain. If we look at the current situation of entertainers…”

Hyang’s explanation was as follows:

– Looking at the current situation of entertainers, each troupe has a set area they travel. Simply put, troupes responsible for the northern part of Jeolla Province never go down to southern Jeolla or to Gyeongsang or Chungcheong provinces.

– Create an office for these entertainers and register all of them. Through this office, entertainers receive appropriate wages. At the same time, prohibit prostitution by women, young boys, or young girls belonging to the entertainment troupes.

– The office adjusts the size and schedule of the troupes so they can perform at the Comprehensive Entertainment Venue whenever markets are held nationwide.

– At this time, the Comprehensive Entertainment Venue collects admission fees for revenue.

– Every three years, gather entertainment troupes from across the country to compete in skills. The winning troupe receives prize money and the title of “Joseon’s Best Entertainment Troupe.” Not only the title, but when they perform, charge higher admission fees and increase their salaries.

“Oh ho…”

At Hyang’s words, Sejong’s face began to brighten. Stroking his beard while listening to Hyang’s plan, Sejong spoke.

“Entertainment troupes from all over the country traveling nationwide without boundaries, showing off their skills… Anpyeong would have a stomachache if he heard this.”

At Sejong’s joke, Hyang smiled and bowed his head slightly. Anpyeong had traveled the country following entertainment troupes, squandering his wealth.

Seeing Sejong’s favorable reaction, Hyang added:

“To circulate these entertainment troupes nationwide, officials for management and supervision must be essential.”

“That would be necessary.”

“And since most of those who enjoy the performances of these troupes are ordinary people, the officials can grasp the public sentiment more quickly and accurately.”

“Exactly!”

At Hyang’s additional explanation, Sejong clapped his knee and beamed.

No matter what anyone said, what a king cared about most was public sentiment. And by operating the entertainment troupes in this way, they could naturally check the trends in public opinion.

Of course, reports gauging public sentiment were already coming in through various channels, but it was clear that the more diverse the sources, the more accurate information could be obtained.