Chapter 44: The Price of Rice

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“Father, we must first address the problem of basic sustenance. How can we encourage the people to cultivate more land?” Li Shen said to Emperor Taizong.

“Right now, aren’t the people already farming? How can they farm more?” Emperor Taizong was puzzled.

“Father, people will only farm more if there’s profit to be made. Currently, the price of rice is only five wen per dou. Even with my large-scale purchases, it only rose to seven wen. After deducting heavy taxes, a mu of land yields about a hundred wen at retail price. A hundred mu amounts to just one string of coins. Father, what can one string of coins accomplish? And that’s assuming they sell even their food grain. If they keep some for themselves, the leftover grain barely suffices for a family of three to eat for a year. For larger families, it’s hard to get enough food. I’ve heard from the imperial estate staff that some nearby villages don’t even have a decent set of clothes. People patch and repair the same garment endlessly. Father, cheap rice harms the farmers. Many are reluctant to reclaim wasteland and cultivate more.” Li Shen expressed his concerns.

“Don’t you know that expensive rice hurts the people? Nowadays everyone can buy rice; how could they be hungry?” Emperor Taizong was skeptical, as he had set the rice price himself.

“Father, do you know who actually buys rice? The real farmers keep their own food grain; they don’t buy rice. The common folk sell their rice cheaply only to buy it back at higher prices. The buyers are those with steady incomes: laborers earning about three hundred wen a month can buy sixty dou; artisans at workshops earn several hundred wen; then there are merchants, noble families, and aristocrats. They don’t care whether rice costs five wen or ten wen. The real problem is that the people cannot trade rice for what they need, like cloth. That’s why we must raise the rice price—to encourage more farming. When rice prices rise, wages for laborers and artisans will rise accordingly, or who will work for you? When farmers live well, are well-fed and warmly clothed, the people will be willing to have children. Only then can the population grow.”

“But even if rice prices rise, they can’t go too high. If life improves as you say…” Emperor Taizong asked further.

“Of course, that requires developing commerce. A country without agriculture is unstable; without commerce, it cannot prosper. Developing commerce will attract shrewd people to engage in small businesses. When these people’s living standards improve, they’ll have children or send them to school. Merchants need workshops that hire common folk; besides farming, people will have another source of income. A workshop worker’s annual earnings can support their family’s food, drink, and clothing. The land they farm then becomes surplus. With surplus, they can educate their children. The people still believe that only education brings success. Wherever conditions are favorable, we can establish schools. After ten or twenty years, those children will become a large group of educated people. We will charge minimal fees—just enough to cover daily expenses and teachers’ salaries—so the people won’t be burdened. And if necessary, the court can provide additional funds.”

Li Shen had racked his brain to come up with this plan, ideas he had absorbed from stories of later times. He also wondered how those characters in novels who traveled through time instantly became so intelligent, mastering all political intrigues and current affairs.

“You do have a point, but implementation won’t be easy. No official in the court will agree to raising rice prices. As you said, their families have many mouths to feed. If prices rise, they’ll have to pay double. Sigh…” Emperor Taizong sighed.

“Father, there’s no need to rush. We can proceed gradually. Aristocratic families cannot be uprooted overnight. Besides, they will agree eventually; they own vast lands and will profit from higher rice prices. They stockpile large amounts of grain every year,” Li Shen comforted him.

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“Li Shen, since you understand state affairs so well, why not attend court sessions in the future? Though you’re young, you’ll be nine after the New Year. As a prince, you have the right to attend court,” Emperor Taizong suggested.

“No, Father, please don’t. I’m just talking nonsense. I have no such ambition,” Li Shen refused. Court sessions started at five or six in the morning; he had no desire to wake so early. He preferred a leisurely life.

“Then what is your ambition?” Emperor Taizong asked curiously.

“My ambition? To sleep until I wake naturally and to count money until my hands cramp,” Li Shen replied.

“Nonsense! Such lack of ambition!” Emperor Taizong was so angry he felt like hitting him.

“Father, I really don’t want to be involved in politics—it’s too tiring. The court has my elder brother to handle it. If I do well, I’ll pressure him; if I fail, I’ll have stress myself. What’s the point? It’s better to be a carefree prince, enjoy life, earn money, and contribute more taxes to the court. Why not?” Li Shen’s thoughts were simple. He wasn’t cut out for officialdom. A misstep could cost him his head—it wouldn’t be worth it.

“Alright, you’re still young. We’ll talk about this in a few years,” Emperor Taizong said helplessly.

After the New Year’s celebration, everyone returned to their respective homes and families.

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As winter gave way to spring, Li Shen’s life returned to its usual calm. He cherished his twice-monthly chances to leave the palace, though he couldn’t argue with Emperor Taizong.

Among his enterprises, only the liquor business was profitable. Thanks to connections with the Cui family, the price of ordinary liquor kept dropping until it reached one string of coins. Paradoxically, this boosted demand. Merchants from all over came to Chang’an to trade goods and bought batches of liquor to take home, earning Li Shen over twenty thousand strings of coins in monthly profit.

His coal mining operations continued, but sales were minimal. Coal piled up like mountains at the foot of the hills, much to the workers’ confusion as to why their employer wanted them to dig so much useless coal. Li Shen also instructed Wang Hongfu to keep buying hills and lands rich in coal, limestone, and clay. Since these lands could not produce grain, their prices were low.

Especially around Nanshan coal mine, the land was mostly barren and vast. Li Shen told Wang Hongfu to acquire all available land in Chang’an County, even paying premium prices. The imperial estate comprised five hundred households, each with one hundred mu, totaling fifty thousand mu. Wang Hongfu had already purchased twenty thousand mu, mostly from the court, and had allocated it according to household population.

Thus, Li Shen spent five peaceful months. During those months, court affairs followed historical patterns. Li Tai remained active in his struggle for the throne. Li Shen succeeded in raising grain prices to ten wen per dou.

His goal was to eventually reach twenty-two wen per dou, equivalent to two wen per jin as in later times, but that was not achievable in the short term.

Li Shen’s tranquility was disrupted by the marriage of Princess Nanping. Emperor Taizong arranged for her to marry Wang Jingzhi, son of Minister of Rites Wang Gui. Li Shen held a low opinion of Wang Gui.

Historically, Wang Gui was known for wielding ritual laws to suit his own interests. He only cited rules that favored himself, never those benefiting the common people. Li Shen thought Wang Gui was a fame-seeker, notorious for urging Emperor Taizong to release a rebel’s wife and suggesting that officials meeting princes need not kowtow, all under the guise of ritual propriety.

Many praised him, but those were all court insiders. He sought benefits for himself and officials, earning acclaim in official circles but contributing nothing to the populace. Some even compared him to Wei Zheng and Fang Xuanling, which Li Shen found utterly ridiculous. The fact that he dared to leak confidential palace discussions—secrets Emperor Taizong confided only to close aides—revealed his character. Had it not been for Wei Zheng and others vigorously supporting him, he would still be an obscure official in a remote post.