Business, when done on a large scale, requires foresight.
Following Liu Huizi, the leaders of various industries flocked to the bank to deposit money.
Of course, it was impossible to deposit all their money. Regardless of the amount, showing support to the Duke was a gesture of their sincerity.
With these people taking the lead, those who were hesitant found their courage.
Baskets of copper coins and silver were carried into the bank and exchanged for deposit slips, which were card paper affixed to cowhide.
The exquisite design of the deposit slips amazed these unsophisticated depositors.
The deposit slips were similar to the work passes designed by Fang Er, made of thick card paper with columns of instructions printed on them, stamped with the bank's emblem, coated with tree sap, and then adhered to cowhide.
Finally, a thin layer of tung oil was brushed on for waterproofing. This oil also ensured that the writing on the card could not be altered.
"Duke!"
As Fang Er happily watched the depositors in the bank, an old man trembled and knelt before him.
"What is this, old sir? Please rise quickly!"
Fang Er quickly got up from his chair, and a soldier from the Skyfire Army stepped forward to help the old man up.
"Duke, I… I… I heard people say that your bank can lend money."
The old man's expression was extremely humble, and his eyes were full of anticipation as he looked at Fang Er.
Fang Er smiled. This was the first person to come to borrow money. He turned to the soldier at the door and instructed, "Go back and fetch Director Lai."
"Duke, I am here." Lai Yifa's voice suddenly came from outside the bank.
Then, he walked into the bank and saluted Fang Er.
"Whoa!"
This guy seemed to be everywhere. He hadn't been called, yet here he was.
Seeing Fang Er's confused gaze, Lai Yifa scratched his head. "Duke, I have made arrangements for all matters at the Eastern Depot. Being idle, I followed you, fearing you might need me."
"You are thoughtful."
Fang Er praised him and ordered, "Find the person in charge in Shenyang City and inquire about this elder."
"Yes, Duke!"
Lai Yifa left the bank, and within five minutes, he returned with a scruffy-looking young man.
"Duke, this is the head of the customs house, Xiao Liuzi."
"Eastern Depot head, Xiao Liuzi, greets the Duke!"
The young man, Xiao Liuzi, quickly bowed to Fang Er.
"Do you recognize him?"
Fang Er pointed at the old man and asked Xiao Liuzi.
Xiao Liuzi walked up to the old man and examined him carefully.
"Duke, I recognize him. This elder is a blacksmith named Mo Di, who lives in Cat Alley to the east of the city."
"He was originally a master craftsman in the Goguryeo Military Equipment Department. Since our Great Tang reclaimed Liaodong, this Old Mo has returned home to retire."
"Master craftsman of the Military Equipment Department?"
Fang Er became interested in the old man. "I've been recruiting blacksmiths in Shenyang for quite some time. Why didn't you go to work in the workshops?"
"Reporting to the Duke, I was accustomed to a leisurely life when I was in the Military Equipment Department. Now that I'm older, I've taken on a few apprentices and want to pass on my skills."
"However, my family is not very wealthy, and I cannot afford good iron. So, I heard that your Duke's bank could lend money, and I wanted to try."
"Duke, rest assured, I may not be good at other things, but the apprentices I teach are all top-notch."
"As long as I have money to buy iron materials, I will definitely not lose money. I only want to borrow two guan of money, and I can repay it with principal and interest in two months."
Mo Di spoke earnestly and then bowed deeply.
Fang Er was not surprised to find skilled craftsmen among the common people; masters were everywhere.
Xiao Liuzi, being clever, came up behind Fang Er and whispered, "Duke, what Old Mo says is true."
"This fellow has taken in seven apprentices, and their craftsmanship is good, but blacksmithing is physically demanding work. They can work hard and eat a lot. Old Mo is being eaten poor by them."
Fang Er looked at Mo Di and smiled. "Two guan is not enough for what? I'll lend you ten guan, do you dare to accept it?"
"Having skills but no capital, isn't this exactly the kind of quality customer for bank loans?"
"Although the workshops have many craftsmen, they are currently busy with things like firearms, vehicles, and railway tracks, and have not been able to focus on civilian needs."
Mo Di did not respond directly but asked Fang Er, "Duke, may I ask what the interest rate is?"
"Annual interest rate, eight li!"
Fang Er extended his right hand, showing eight fingers, and smiled as he said.
"Eight, eight, eight li?" Mo Di's eyes widened, full of disbelief.
It was known that private lending rates were at least two fen annually.
He had come to the customs house hoping to find cheap iron materials. By chance, he saw the bank opening and came to join the fun.
Seeing that the bank offered lending services, he casually inquired, but he never expected that the bank's lending interest rate would be so low that he wouldn't even dare to dream of it!
Eight li, ten guan of money, and the annual interest would be less than one guan!
Fang Er nodded. "How about it? I'll lend you ten guan, do you dare to accept it?"
"I dare!!" Mo Di's mouth was so wide with joy it almost reached his ears.
With money, he could buy iron materials, good iron materials.
The farm tools he made could also be sold at a good price.
Ten guan of money, all spent on iron materials. Even after deducting the food for the seven hungry men at home, there would still be plenty left to repay the debt!
"Li Yongfei!"
Fang Er called out from behind the counter.
Li Yongfei, who had just completed a deposit transaction, quickly ran out. "Duke?"
"This is Xiao Liuzi. From now on, when people come to borrow money, have him screen them first. As long as the person is reliable, lend generously."
"This is Elder Mo. He wants to borrow ten guan. Take him to complete the procedures."
Fang Er introduced Mo Di and Xiao Liuzi to Li Yongfei.
After speaking, he turned to Xiao Liuzi, patting his shoulder. "From now on, your office will be in the bank. You must investigate everyone who comes to borrow money. Your responsibility is heavy. Watch carefully. I have faith in you."
Who was Xiao Liuzi?
He was an orphan from Shenyang City, a native hooligan!
Let alone Duke Fang Er, even the constables of the prefectural office had never looked him in the eye. Lai Yifa had only taken him under his wing because he was well-informed.
Now, with Fang Er patting his shoulder and saying he had faith in him, Xiao Liuzi's eyes welled up with tears, and he knelt down with a thud.
"Duke, rest assured. Grateful for your trust, Xiao Liuzi will do his best. If there is any mishap, I am willing to offer my head as atonement!"
Xiao Liuzi's head was banging against the bluestone floor. Never in his life had anyone valued him so highly!
"Get up and speak. You will become a squadron leader and a centurion in the future. Don't kneel down so readily!"
Fang Er pulled him up. "Go with Li Yongfei to complete Elder Mo's loan procedures."
"Yes! Duke!" Xiao Liuzi wiped away his tears and then walked towards Li Yongfei.
Afterward, the two of them, with Mo Di, went to the counter to handle the loan.
With Xiao Liuzi present, Mo Di's information was clearly recorded. In less than ten minutes, the old man walked out of the bank carrying ten guan of money, his face beaming. He praised the bank to everyone he met, extolling how good it was and how low the interest rates were.