Generals of the Great Song Dynasty.

Summary

The chapter discusses misconceptions about the financial system during the Song Dynasty, particularly regarding taxation and commercial taxes. It reveals that while the annual revenue was perceived to be high, the actual tax revenue was significantly lower, with the majority coming from monopolized sales, particularly salt. The two main types of commercial taxes were "passing tax" and "residence tax," which, despite seeming low, had many loopholes that frustrated merchants. Wang Ning An proposes abolishing the salt monopoly to lower prices and increase overall tax revenue through major commodity transactions. He believes that by reducing the salt price, the court could benefit from taxing other goods, potentially leading to greater revenue than the current salt tax. Zhao Zhen, while initially skeptical, sees merit in Wang's ideas and agrees to test them in specific regions, prompting Wen Yan Bo to reluctantly support the initiative. As the discussion unfolds, Wen Yan Bo expresses concern over the potential chaos that could arise from tampering with the salt and commercial taxes, revealing the complexities of the political landscape. Wang Ning An suggests a collaboration to open a bank, shocking the Wen family and hinting at further plans.

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