# Chapter 75: Let's Make Money! Let's Do Business! (1)
"Ngh...."
Lee Eun-taek, a junior official of the Ministry of Revenue, groaned as he sat before his books.
"This won't work, and that won't either...."
Moving the counting rods spread across one corner of his desk this way and that, Lee Eun-taek suddenly swept them all aside and shouted.
"There's no answer! There's nowhere to cut the budget! Argh!"
"Hey now!"
When Lee Eun-taek lost his reason and went into a frenzy, his fellow officials nearby grabbed hold of him.
"Grab him! Grab him!"
"Please calm yourself! Calm down!"
After the commotion settled, Lee Eun-taek was immediately dragged before Minister of Revenue Kim Jeom.
"You must have too much energy, flipping over desks and all."
"I humbly beg your forgiveness, Your Excellency."
"What exactly is the problem?"
"There is no budget, Your Excellency."
At Lee Eun-taek's answer, Kim Jeom's face crumpled miserably.
"Damn it...."
* * *
The biggest problem in King Sejong's carefully planned reforms was the budget.
Since the founding of the nation, Joseon had significantly reduced the budget for use by the royal court.
They knew all too well that toward the end of Goryeo, excessive taxation had left the common people barely surviving.
It was only natural that various miscellaneous taxes were reduced as much as possible, and consequently, government expenditures were cut to operate within the reduced revenue.
As a result, Sejong had set the reform period at ten years.
The goal was to gradually change revenue collection, reform central and local administration, and ultimately strengthen Joseon's capabilities to expand outward.
Sejong, well aware of the importance of the necessary budget for this process, had placed emphasis on proceeding with monopoly enterprises.
At just the right time, the monopoly on candy proposed by the Crown Prince was a godsend that could greatly expand the treasury.
However, while establishing monopoly offices down to the military command level, a considerable amount of wealth was consumed for facility investment funds, reducing the flexibility in budget operations.
Added to this, the decision to purchase major components for the Gapshik Jang Chongtong and Masang Chongtong from private sources had largely eliminated any budgetary surplus.
In truth, Sejong was well aware of this problem.
That was why he always assessed budget limitations before acting, from the issue of purchasing major components for the firearms to the construction of the national ironworks.
However, letting budget constraints slow down matters directly connected to national defense did not sit well with Sejong.
To resolve this, Sejong employed a bold measure.
Sejong's move was to seize control of the finances of the Naesu-byeoljwa.
The Naesu-byeoljwa was an institution created to manage the wealth inherited from the Goryeo royal family and the private property of Yi Seong-gye's family in the Hamgyeong-do region, also managing the lands and wealth distributed to the royal family. Sejong took firm control of this area.
Gathering the royal relatives together, Sejong made the following request:
"For the flourishing of our Joseon, the sacrifice of you elders and brothers is necessary."
Since no one had the audacity to oppose a request from the King, the royal family members who received Sejong's request all agreed.
Once all the royal family members agreed, Sejong handed each of them a written pledge.
The pledge, written in Sejong's own hand and bearing not only the royal seal but also his signature and seal, contained the following:
- For the next five years, 70% of the previously received stipend will be paid. For the following five years, the same amount as the initially received stipend will be paid, and thereafter, an additional 20% will be added.
The contents were quite acceptable, so all the royal family members suppressed their complaints.
And this pledge would come to be recognized as Joseon's first government bond certificate.
In this way, available funds from the Naesu-byeoljwa were injected, but overall, the situation remained tight with almost no margin. The biggest reason for this was Hyang's research institute and the ironworks being built in Pyeong-an Province.
"Father, about the budget...."
"Get out, you rascal!"
Such conversations surfaced two or three times a month, as Hyang's research institute was a budget-devouring—no, spending like it was drinking cold water—institution.
However, Hyang had something to say about this.
"No! It's not like I'm just spending recklessly! The budget itself is in that state, what am I supposed to do!"
As proven in the previous audit, Hyang absolutely did not waste the budget.
The only problem was that the absolute value of the Joseon court's budget itself was simply too small.
And the ironworks located in Pyeong-an Province had problems with its location.
The ironworks, built under the command of Kim Deok-su, who would become the founding ancestor of the Anju Kim clan, was located about 200 li (approximately 80 km) from the border.
Due to the location problem, a new unit had to be organized and deployed for defense, and this was the decisive reason the budget had dried up.
* * *
Though the budget had dried up, it wasn't literally that the treasury was completely empty.
Funds to operate the court were prepared, but the reserve funds kept for emergencies had been entirely exhausted.
After confirming the situation, Kim Jeom clicked his tongue.
"Tsk, if we can just get past Jungchiujeol, it would be resolved."
At Kim Jeom's words, his subordinate officials raised objections.
"The problem is whether we can make it safely until then. If flooding occurs or an epidemic breaks out, it's just the end."
At his subordinate officials' words, Kim Jeom shouted angrily.
"You people are the problem, always looking at things so pessimistically! Would it kill you to live a bit more positively!"
"We humbly beg your forgiveness."
"If you're sorry, don't do things that require forgiveness! Go do your work! Can't you see the pile of scrolls over there!"
"Yes, yes sir!"
At Kim Jeom's reprimand, the subordinate officials hurriedly returned to their seats.
Left alone at his desk, Kim Jeom let out a long sigh.
"Haa~. The lack of budget flexibility is a problem, but... there's no answer."
Facing a seemingly unsolvable problem, Kim Jeom sighed again and grumbled.
"Haa~. Should I just write a petition to be sent out as a local magistrate?"
* * *
"Get out, you rascal!"
Having been kicked out after requesting additional budget, Hyang headed to the Crown Prince's quarters, grumbling.
"Lately he doesn't even call me Crown Prince... damn it, what is budget anyway...."
Grumbling about a situation that had no answer even in his own estimation, Hyang's eyes caught sight of monks moving along behind a court attendant.
"What are monks doing here?"
In response to Hyang's question, the following attendant answered immediately.
"It seems they are going to the Queen's quarters to give a Dharma lecture."
"To go so openly...."
Thinking of the ministers who would have fits at the mere mention of the word 'Buddhism,' Hyang was about to say something when he stopped in his tracks.
"Your Highness?"
"I found it! Attack Japan, no, let's sell to Japan!"
"What?"
The attendant's head tilted sideways, but Hyang retraced his steps and hurriedly made his way toward Gyeongjeongjeon Hall.
"What is this suddenly? Let me say again, there is no budget."
At Hyang's reappearance, Sejong drew the line first. But Hyang did not mind.
"Father! How about selling some books?"
"Selling books?"
"Selling Buddhist scriptures to Japan!"
"Hm?"
At Hyang's words, Sejong's eyes went round. In fact, the ministers who hadn't yet left also had their eyes go round.
* * *
Looking at the relationship between Joseon and Japan during this period, it wasn't particularly bad.
In the early days of Joseon's founding, the first method used to prevent damage from Japanese pirates was a diplomatic solution.
At the time, the Joseon court externally promised the Ming dynasty to sever relations with Japan, while internally strengthening exchange relations with Japan.
Diplomatic relations were established not only with the shogunate government but also with the Kyushu Tandokushi, the Ouchi clan, the Shoni clan, the Otomo clan, and the Lord of Tsushima Island.
Just as this exchange policy was slowly bearing fruit, an unexpected obstacle was encountered.
Ouchi Yoshihiro and the Lord of Tsushima Island, So Kita-shige, had died.
And as Wada Saimon seized real power in Kyushu and Tsushima, instigating Japanese pirate raids on Joseon, Joseon's efforts lost their effectiveness.
However, the thread of friendly relations between Joseon and Japanese regional lords still remained.
Just before the Tsushima Island expedition in the first year of King Sejong's reign, Joseon had notified the Japanese lords of the Tsushima Island expedition.
When Joseon declared its intention to punish Tsushima Island, the Kyushu Tandokushi responded as follows:
"Japanese pirates are enemies (thieves) of Japan, so we request that Joseon punish them severely with military force." (Note 1)
* * *
"Hasn't Japan requested our Buddhist scripture woodblocks more than once or twice?"
At Hyang's question, Sejong and the ministers nodded.
"That is true."
"Just recently, they did so again."
This past April, an envoy from the Japanese King—specifically the Shogun of the Muromachi Shogunate, as Joseon recognized the Shogun as the monarch of Japan—had requested the Tripitaka Koreana woodblocks.
At the time, Sejong had refused this request.
"The Tripitaka Koreana woodblocks exist in only one set, and this has been handed down from our ancestors, so we cannot give them away freely."
The Japanese King's requests were very persistent, sometimes even threatening war, and there were cases where envoys were detained.
However, they couldn't give away the Tripitaka Koreana woodblocks, and since cutting off relations would block the import of copper, Sejong's best option was to treat the envoy well and send them back.
Eventually, in response to such Japanese demands, there had even been discussions in the Ministry of Rites about producing Buddhist scriptures and woodblocks.
However, producing Buddhist scripture woodblocks in Joseon, where "revering Confucianism and suppressing Buddhism" was national policy, was an impossible matter.
"So, print exactly 10 sets of the Eighty Thousand Tripitaka. Then, give 1 set as a gift to the Japanese King, another 1 set to the Kyushu Tandokushi, and yet another 1 set to the Ouchi clan. Unlike the Japanese King, the Kyushu Tandokushi and the Ouchi clan have treated our Joseon well."
At Hyang's words, Sejong nodded.
"That is true. Then what about the remaining 7 sets?"
"We should create competition among other Japanese lords. Say we will sell to whoever pays the highest price."
"Oh my!"
"Ah ha!"
At Hyang's words, Sejong and the ministers exclaimed in admiration.
Japan, whose culture lagged considerably behind, desperately wanted to obtain cultural artifacts from Joseon or Ming.
In particular, Buddhist scriptures were extremely rare, which was why the Japanese King had requested Buddhist scriptures and woodblocks.
"In that case, wouldn't it be better to print about 50 sets rather than 10?"
"Tsk!"
At Maeng Sa-seong's question, Sejong clicked his tongue.
"Have you forgotten that value rises with scarcity? Why do you think the Crown Prince specified 10 sets?"
"I am deeply ashamed!"
"I told you not to do things that require shame!"
Having scolded Maeng Sa-seong, Sejong looked at Hyang with gentle eyes.
"So you're saying we should sell those 10 sets?"
"Yes. With the name 'Eighty Thousand Tripitaka' and the limited quantity of only 10 sets, their value will skyrocket in Japan."
"That would be the case."
"And, instruct the monks to create woodblocks and print or hand-copy scriptures to make books. Take those Buddhist scriptures to Japan and sell them. In this way, Joseon can gain two benefits internally and three benefits from Japan."
"Two benefits, three benefits?"
At Hyang's words, the bodies of Sejong and the ministers increasingly leaned toward Hyang.
After wetting his throat for a moment, Hyang explained what the benefits were.
"The two benefits Joseon can gain internally—first, we can recover once more the lands still held by temples."
"Ah!"
One of the policies consistently pursued since Joseon's founding was the policy of revering Confucianism and suppressing Buddhism.
King Taejong consolidated numerous Buddhist orders into seven sects, confiscated 80,000 temple slaves and turned them into government slaves, and seized 60,000 gyeol of land.
Inheriting this, Sejong consolidated the seven sects into two—Seon (Zen) and Gyo (Doctrine)—and left only 36 main temples nationwide. Of the 11,000 gyeol of land, 3,000 gyeol of good land was confiscated, and nearly all remaining slaves were taken.
"Give the monks a certain percentage of the proceeds from Buddhist scripture sales to solve their livelihood. So they can live without land. In this way, we can stabilize public sentiment, which becomes another benefit."
"I see."
At Hyang's explanation, Sejong nodded.
Although the policy of revering Confucianism and suppressing Buddhism had been consistently pursued, the presence of Buddhism had not yet faded, not only within the palace but also among the common people.
"Releasing some restrictions moderately could also be helpful. Then, what are the three benefits from Japan? The first thing that comes to mind is that the Kyushu Tandokushi and the Ouchi clan will become closer to us."
"That is correct. Having powerful lords like the Ouchi clan or Kyushu Tandokushi become solidly connected to our Joseon is a great benefit. And another benefit is that by selling Buddhist scriptures and importing Japanese rice or silver, we can escape budget pressure. The final benefit is that by spreading Buddhist scriptures that clearly record they were made in Joseon, we can make the Japanese people admire our Joseon."
At Hyang's explanation, Sejong smiled and took up the conversation.
"The other benefits are good too, but I like the final benefit the most. What do you ministers think?"
"Truly an excellent idea!"
"Then we must put it into action. Immediately send people to the main temples of the Seon and Gyo orders."
"We shall obey your command!"
* * *
Three months later, the Ouchi family in Kyushu moved busily to welcome the envoy from Joseon.
"Thank you for your hard work in traveling this long distance."
Moriharu, who had become the lord of the Ouchi family following his elder brother who died in battle, politely welcomed the Joseon envoy.
"Thank you for such a warm welcome. Fortunately, there were no typhoons, so we crossed safely."
At Moriharu's polite welcome, the envoy from the Ministry of Rites returned the courtesy with proper etiquette.
Serving tea to the envoy, Moriharu got to the main point.
"So, what brings you all the way from Joseon to this distant place? Have bandits caused trouble again?"
"It is still quiet. I have come here by His Majesty's command. Here is His Majesty's personal letter."
The envoy took out a scroll from his bosom and untied the knot. Before Moriharu, who had straightened his posture neatly, the envoy read Sejong's personal letter.
"Let the Lord of the Ouchi clan in Japan hear this...."
When the reading of Sejong's personal letter ended, Moriharu politely performed a deep bow.
"I am truly grateful for such concern. My family's roots are in Baekje, so I am all the more grateful."
"Here is a gift from His Majesty to the lord."
At the envoy's gesture, a Ministry of Rites official behind him entered carrying a large wooden box wrapped in silk.
"What is this?"
"Do you know of the Eighty Thousand Tripitaka of Haeinsa Temple?"
"I know it well."
"These are Buddhist scriptures printed from that Tripitaka."
"Oh my!"
With trembling hands, Moriharu untied the silk wrapper's knot.
As the knot came undone, a lacquered wooden box gleaming with luster revealed its form. On the lid of the box, a Buddha image engraved in relief and covered with gold leaf was positioned.
Running his trembling hands over the Buddha image, Moriharu declared to the envoy:
"To give us such a precious treasure... our Ouchi family will hereafter fully cooperate in all matters concerning Joseon!"
A similar experience occurred with the envoy who visited the Kyushu Tandokushi.
Only Ashikaga Yoshimochi, the Shogun of the Muromachi Shogunate who was called the Japanese King, showed a somewhat disappointed reaction.
Afterward, fierce competition unfolded over the remaining 7 sets of the Eighty Thousand Tripitaka. At the end of this competition, the 7 sets of the Eighty Thousand Tripitaka were sold for the huge sum of 500 gwan of silver (approximately 1.87 tons) per set.
It wasn't only the Eighty Thousand Tripitaka editions. Buddhist scriptures printed or hand-copied by other temples also sold for a minimum of 200 nyang of silver per set.
"I know the Buddhist scriptures are precious, but isn't it too expensive?"
"Do you think these are ordinary Buddhist scriptures? You know there are only 36 temples recognized by our Joseon? High monks from those places wrote each character with a brush and carved woodblocks to produce this! Just looking at it, Buddhist devotion surges! Hey, it's not ordinary!"
It was a premium brought about by the scarcity of 'only 36 locations.'
---
(Note 1) Military Strategy of the Joseon Dynasty. Ministry of National Defense Military History Research Institute.