Chapter 36: Li Shen Discusses Value

Li Shimin was engrossed in reviewing memorials when a guard commander approached, whispered a few words into Li An’s ear, and then withdrew. Li Shen’s expression flickered for a moment, but he remained silent.

"Li An, what has happened?" Li Shimin noticed Li An’s troubled demeanor.

"Reporting to Your Majesty, the commander guarding the inner palace just reported that the Prince of Ji has returned," Li An replied.

"He returned, so he returned. What is there to report?" Li Shimin said indifferently.

"It is not just that the Prince of Ji has returned. The commander said... he also brought back one hundred and sixty ox-carts." Li An hesitated, wondering whether he should mention the sheer amount of money involved.

"What is loaded in the ox-carts?" Li Shimin asked, curious.

"Money."

"Money?"

"Yes, copper coins."

"Are you saying the Prince of Ji hauled back one hundred and sixty carts of copper coins?" Li Shimin’s voice rose in volume.

"Yes, Your Majesty. The guards carefully inspected every single cart before allowing them into the inner palace. It is all copper coins. Several tens of thousands of strings," Li An said.

"Several tens of thousands of strings! Wang De, Wang De!" Li Shimin was astonished. It wasn’t that he had never seen money, but Li Shen was only eight years old; bringing tens of thousands of strings of cash into the inner palace was highly unconventional.

"This old servant is here," Wang De replied as he entered.

"Wang De, Li An says Li Shen returned to the palace with one hundred and sixty carts of money. Do you know what this is about?" Li Shimin asked.

"Reporting to Your Majesty, at noon, the Prince of Ji borrowed one hundred and sixty ox-carts from me. He said he was hauling some 'worldly possessions,'" Wang De replied.

"Worldly possessions? Are money and wealth considered worldly possessions?" Li Shimin recalled the phrase often attributed to Laozi.

"Your Majesty, I have already been to check; it is indeed all money. The storehouse at Daji Hall is already full, so they had to find another large building to store it. Furthermore, the Prince of Ji gave five full carts of copper coins to the Twelfth Princess and had them sent to her palace. Just now, his personal eunuch, Shi Tou, sent me two hundred strings of cash, telling me to give one string to each of the cart drivers. I was just out distributing the rewards," Wang De said, making no attempt to hide Li Shen’s generosity.

"One string per person, two hundred strings total. Li Shen is certainly generous. With the court so short on funds, why didn’t he offer some to the state? Hmph, and what about the remaining forty strings?" Li Shimin asked indignantly.

"Your Majesty, the remaining forty strings are still in my possession. If Your Majesty wants them, I can go fetch them for you," Wang De said calmly.

"Hmph, do you think I would want your pocket money? It is clear that the brat rewarded you. Wang De, you have accepted Li Shen’s money again," Li Shimin remarked, looking at Wang De.

"Your Majesty, this was a reward from the Prince of Ji. He told me to save it to buy a large house outside the palace, so that when I am old and leave the palace, I will have the means to hire someone to look after me," Wang De said, sounding pitiful.

"Hmph, quit acting so pathetic. You have served me for so many years; do you think I would let you go uncared for in your old age?" Li Shimin scoffed.

"This old servant knows Your Majesty cares for me, but I do not wish to cause Your Majesty any trouble," Wang De said sincerely.

"Enough. Let’s not dwell on this. Come, let’s go to Daji Hall." Li Shimin rose to his feet.

Upon receiving notice of Li Shimin’s arrival, Empress Zhangsun and Consort Wei went to welcome him along with Li Shen. Back in the main hall, Li Shimin took the head seat, and maids served tea. Li Shen sat at the far end, trying to make himself invisible. Seeing this, Li Shimin said, "That’s enough. You don’t need to pretend. I didn’t come here to ask you for money."

Empress Zhangsun and Consort Wei, seeing Li Shen’s behavior, were amused. This boy was truly obsessed with money.

"Speak. How much did you swindle this time?" Li Shimin asked.

"Father, that’s a harsh way to put it. How could it be swindling? This is honest profit," Li Shen protested.

"Honest profit? Do you think I don’t know your costs?" Li Shimin retorted, seeing Li Shen’s attempt to argue.

"Father, one should not measure the value of a commodity by its cost. In the market, the value of a commodity has nothing to do with its cost," Li Shen countered.

"Oh? Then tell me, what should the value of a commodity be related to?" Li Shimin wanted to hear his reasoning.

Li Shen pondered for a moment and said, "Father, let us speak of basic necessities—clothing, food, housing, and transportation. Let’s start with clothing. Father, can you tell me the value of this dragon robe you are wearing?"

"Shen'er, do not speak nonsense!" Consort Wei, seeing her son dare to talk about the Emperor's dragon robe, quickly scolded him.

"It is fine, Consort. I want to see what this lad has to say," Li Shimin said dismissively.

"Father, if you were to calculate the cost of this dragon robe, it wouldn't even reach one hundred strings of cash. Would you believe that?" Li Shen said.

"Not even one hundred strings? Impossible. Wang De, how much did this dragon robe cost?" Li Shimin asked, disbelieving.

"Your Majesty, this robe cost one thousand one hundred strings," Wang De, as the Palace Chamberlain, personally oversaw the tailoring of the Emperor's garments.

"Father, your clothes are expensive because of the gold and silver thread. The rest is just silk. High-quality silk is twenty or thirty strings per bolt, but once it enters the palace for your use, the price jumps tenfold. The gold and silver thread is limited; I estimate it costs only a few tens of strings. Finally, there is the craftsmanship. The cost of this garment is only about a hundred strings, yet it is billed at a thousand. If you were ever in need of money, I could sell this robe for a million strings, believe me. Because it was worn by you, that is its value—it is an heirloom." In the Tang Dynasty, the antique trade was not yet popular, and items from previous dynasties were often treated like common household goods unless they were thousands of years old.

"Shen'er, you are speaking nonsense again!" His son was actually suggesting that Li Shimin sell his dragon robe.

"Wang De, is what Li Shen says true?" Li Shimin was unsettled by the news that the price of silk increased tenfold upon entering the palace.

"Reporting to Your Majesty, anything that enters the palace is naturally the best, so it is naturally more expensive," Wang De replied in a low voice.

Hearing this, Li Shimin knew it was true. He was furious—he had been treated like a fool, and it was his own private treasury that was paying for it.

"Father, there is no need to be angry. As the Royal Family, to reflect our nobility and uniqueness, we naturally must buy the best and the most expensive. The common people do not know that the items are identical; a hundred-string item and a thousand-string item are different in status. Actually, in my opinion, the most valuable part of this dragon robe is the craftsmanship and embroidery. The artisan’s skill is unique. Even on ordinary cloth, what they create would be worth ten times as much." Li Shen comforted him.

"The Prince of Ji is correct. This piece required over thirty painters to refine it for three months, and over three hundred embroiderers spent two months stitching it, needle by needle," Wang De added, agreeing with Li Shen.

"Exactly, Father. This is value. If this were a common garment, I could sell it for at least five hundred strings. Because it is your dragon robe, I believe it is worth ten thousand."

Hearing this, Li Shimin finally calmed down. "Continue."

"Now let’s talk about food. Grain is grown by the common people. Aside from land rent and taxes, there is little cost involved. You could sell it for five coins a peck, or ten coins a peck. In a disaster year, production drops, and the price rises, yet the cost remains the same." Li Shen continued his explanation. At this time, seeds were saved from the previous harvest and there was no chemical fertilizer; everything relied on nature and labor.