"Madam Zhen, do you have any objections? I will not be one-sided. If there are any discrepancies, please inform me now," Ju Shou said calmly, showing no favoritism.
Madam Zhang smiled and responded, "These land deeds and IOUs were indeed issued by my Zhen family. Although I am curious how these debts and deeds came to be, this is not the place to discuss that. Please, Ju Gong, convert them to silver and cash value."
It was clear that Madam Zhang admitted the Zhen family's insufficiency in silver, allowing the government to repurchase at a discounted rate, and use the proceeds to pay off the debt.
After all, such overdue debts did not violate criminal laws. In the Han dynasty, they were considered miscellaneous laws. According to the law, as long as the debt was repaid within the time given by the court, the worst punishment was three lashes.
For this reason, in cases of overdue debts, the repayment methods and deadlines determined by the presiding judge were crucial. Depending on the repayment result, the final punishment could vary significantly. Those who couldn't repay might even be demoted to slavery.
As a lady of noble status, Madam Zhang wouldn't face whipping or be demoted to slavery due to inability to pay. So the final punishment would be canceled, as long as Ju Shou extended the repayment period, or even dragged it out indefinitely. The Zhen family could end up keeping all their properties without spending a penny.
However, Madam Zhang clearly didn't want to resort to such measures as they would tarnish the Zhen family's reputation. While they couldn't produce enough cash, they still had goods. By paying off the debt with goods at fair value, the Zhen family would only lose face but not suffer significant financial loss, assuming a fair valuation.
In the Han dynasty, government-imposed debt settlements were rarely fair; a three-tenths valuation was considered generous. However, for a prominent family like the Zhens in their home region, a fair valuation was not impossible. If even this couldn't be achieved, could they still claim to be a century-old noble family?
Ju Shou sighed and stood up, "Mi Zizhong, would you be willing to show mercy and let the Zhen family off?"
With these words, those aware of the situation began whispering among themselves. This diverged from their agreed plan to abandon the Zhen family. Now, if Ju Shou's intervention succeeded, it would complicate matters later.
"It's not that I'm unwilling. The Mi and Zhen families have no enmity and even had business dealings before. But now, the Mi family has no choice but to press forward. I hope Ju Gong understands," Mi Zhu said with a bitter smile and bowed. He knew that as long as he refused to relent, Ju Shou would have to adjudicate under the miscellaneous laws and could only apply the harshest one-tenth valuation. The Zhen family was cornered.
"I understand the Mi family's difficulties. Could we negotiate a way to give the Zhen family some leniency? Jizhou will not forget your favor," Ju Shou continued to mediate, hinting that regardless of Mi Zhu's decision, Jizhou would remember this. Showing leniency would earn Jizhou's gratitude, while refusing might someday lead to Jizhou seeking retribution.
Mi Zhu maintained his bitter smile but was unfazed. "Can you, Ju Gong, predict the outcomes for Yuan Benchu and Liu Xuande? If you could foresee everything, you wouldn't be here. I bet my family's fortune on Liu Xuande, you bet on Yuan Benchu. Now you're telling me Yuan Benchu is better?"
"Ju Gong, Jizhou surely knows who backs me. I'm just a pawn. Even if I don't want to fight the Zhen family, what can I do?" Mi Zhu lowered his posture, feigning helplessness.
Ju Shou sighed, "Does your backer truly refuse to reconcile with Jizhou? We have no direct conflict."
Ju Shou persistently demonstrated his support for the Zhen family before Madam Zhang, thinking ahead.
"I dare not make decisions," Mi Zhu continued his act, inwardly despising Ju Shou for trying to extricate himself.
"Sigh, Madam Zhen," Ju Shou turned and bowed to Madam Zhang.
"Thank you for your support, Ju Gong. Please calculate the assets. What we bought back then might be worth a lot now," Madam Zhang said firmly, implying that a fair valuation would essentially be selling to the government, which might even yield a profit for the Zhen family. "Mi Family Head must have incurred some losses too."
"Not really. My family has profited a bit from every sale in Jizhou, not much but it accumulates," Mi Zhu smiled, certain that the government wouldn't offer a fair valuation. One-tenth was the maximum he expected.
Soon, the Zhen family's assets were tallied. "Reporting to the Prefect, the Zhen family's calculable assets amount to approximately 770 million coins! The shortfall is 1.1 billion coins!" The scribe announced, visibly shocked. Even at a tenth valuation, the Zhen family's assets were worth 770 million coins. The Jizhou family heads were equally stunned. They knew the Zhen family was wealthy but had never had a chance to calculate it. This was eye-opening!
Without the severe discount, the Zhen family would be worth 7.7 billion coins, equivalent to 40 million shi of grain at Jizhou prices. This wasn't just immense wealth; it was enough to support a warlord's army. For the first time, Hebei's noble families felt the pressure; even noble blood couldn't withstand the allure of such wealth.
Ju Shou trembled slightly. He had known this figure beforehand, but announcing it publicly made him shake. Now he fully understood why Chen Zicuan insisted on the Zhen family. Liu Xuande's foundation was unstable, lacking money and grain. Absorbing the Zhen family would solidify his base!
One million Yellow Turbans was nothing. The Zhen family alone could support them without much strain. Plus, Mi Zhu stood there, another of the top five merchants, likely worth tens of billions of coins.
Mi Zhu was also shocked. Though his Mi family was among the top five merchants, the Zhen family's wealth was staggering. His assets totaled around 2 billion coins, a quarter of the Zhen family's. No wonder the Zhen family had never been dethroned as the top merchant!
The noble family heads eyed Mi Zhu with greed. If he absorbed the Zhen family, the Mi family would become the top merchant, and they would readily elevate him to their ranks.
Mi Zhu could only smile bitterly under their greedy gazes. He now doubted the wealth of the Chenliu and Hedong Wei families, who had fought the Zhen family for a century without faltering. They must have far more assets. Among the top five merchants, it seemed only the Mi family was just making up the numbers. Determined, Mi Zhu resolved to transform his family into a noble household.