No one could have anticipated such a lively scene.
The two guards in the rear took a step forward, staying alert for any potential trouble. Nanny Wu’s expression soured. She had just told the Fourth Princess that this pawnshop’s shopkeeper was a reliable man, and now this scene had broken out right in front of the Princess! However, as she stole a glance at the Princess’s expression, she saw no sign of anger. Instead, the Princess seemed quite intrigued.
Muxue found it rather amusing. Since she had transmigrated here, she hadn't encountered such a "shrewish" woman; she was so full of energy.
Muxue simply stopped nearby to watch, lest she interrupt the performance by walking over now.
Dorji, however, chuckled in her ear. "Looking at it this way, you haven't been all that bad to me."
Was he referring to the lamp on their wedding night? Muxue pursed her lips and pretended she hadn't heard him.
Inside the pawnshop, a middle-aged man came scurrying out. Wearing a Squirrel Fur hat, he pleaded incessantly, "It’s nothing of the sort! Who’ve you been hearing such nonsense from now!"
"Our daughter found it out herself! How could it be fake!"
Shopkeeper Hu fled with his head in his hands. In the midst of his frantic escape, he suddenly caught sight of Nanny Wu and her party standing under the eaves nearby.
When Nanny Wu had visited previously, he had been the one to receive and accompany her. She was the Princess's nurse, someone who absolutely could not be offended. He had served her with every ounce of his attention, so the impression was deeply etched in his mind.
Now, this Matron had appeared again, and she was standing behind someone else with her hands lowered, like a mere attendant!
For a moment, Shopkeeper Hu didn't dare look at the Noble Lady standing in front of the Matron. His knees went weak, and he hit the ground with a thud.
Just then, his wife, Cui Gu, chased him out. Seeing Shopkeeper Hu on his knees, she paused for a split second. "Well, you Hu fellow, are you trying to trick your way out of this again?"
"My Grand Aunt, I beg you, please be quiet." Shopkeeper Hu wished he could just faint.
Nanny Wu reported in a low voice, "Princess, he recognizes me. He has likely guessed your identity."
"Go over there. Don't let him cause a scene." Muxue pulled the collar of her cloak up slightly.
Having received the order, Nanny Wu walked over quickly, blocking Shopkeeper Hu’s line of sight, and reminded him in a low voice, "Do not be overly formal, and do not be alarmed. Now that a distinguished guest has arrived, keep things quiet, do you understand?"
"Yes, yes." Shopkeeper Hu had intended to kowtow, but hearing this, he forced himself to refrain. Shaking, he stood up and bowed his body low, his eyes only daring to look at the ground. Those young shop boys were being lazy again—the snow on the side hadn't even been shoveled! It had soaked right through his knees.
Cui Gu’s eyes darted between the shopkeeper and Nanny Wu.
Dressed like a woman of the Bannermen with a silver hairpin at her temple—she didn't look simple. As for the master standing further off, the quality of that satin cloak alone would cost at least five taels of silver or more.
She immediately restrained herself, hiding the feather duster behind her back. She greeted them with a smile, "A distinguished guest has graced us. We should have come out to welcome you; please forgive the poor display. Old Hu, hurry up and invite them in."
Stepping into a pawnshop for the first time, Muxue looked around carefully. The exterior of the shop looked ordinary, but inside, it consisted of several courtyards.
At the very front was the street-facing counter room, about two rooms wide. The counter was high; someone short would have to stand on their tiptoes to speak comfortably with the clerk behind the counter.
Entering through a small door to the right of the counter led to a room where a charcoal fire burned brightly. It was warm and cozy, furnished with tables and chairs—likely a reception room for guests. There was another door at the back.
As Muxue glanced toward that door, she heard Cui Gu’s loud voice: "Behind that are the warehouse for goods and the jewelry room. Further back is a small kitchen and a place for the boys to rest."
Muxue nodded and took a seat in the primary chair. "You keep this place quite clean."
"It is an Imperial Pawnshop, after all. We cannot lose our sense of dignity," Cui Gu said with a smile as she took a lidded tea bowl from Shopkeeper Hu and placed it gently by Muxue’s hand. "This is Maojian tea harvested this year. It is passable; please, have a taste."
Muxue took a small sip and asked, "I assume only distinguished guests can enter this room?"
"You have a keen eye," Cui Gu replied. "Only those of some status are invited to this guest room. Generally, for normal pawning or redeeming, everything can be handled at the front counter."
"What do people mainly pawn?"
"Clothing, gold and jade jewelry, bronze and tin ware, even farming tools are pawned here," Cui Gu explained. "We follow the regulations set by the court exactly: value ten, pawn five. We calculate interest by the month, with a two percent monthly interest."
Muxue did some mental math. Roughly speaking, this pawnshop’s standard was calculated monthly. For example, if someone brought in a silk-lined sheepskin cloak valued at ten taels of silver to pawn, they could receive a loan of five taels. When they came to redeem it a month later, they would have to add the two percent interest, paying a total of ten taels and two fen of silver to get the cloak back.
A two percent monthly interest rate sounded reasonable enough.
"And what if someone pawns something but never comes back to redeem it?" Muxue asked.
"That happens as well. Once the pawn period expires and no one claims it, the items are gathered and sold at a discount sale to traveling merchants during the spring and autumn seasons to cover the deficit," Cui Gu said. "If there is particularly fine merchandise, we ask our regular customers if they wish to buy. We sell them whenever the opportunity arises."
Muxue nodded and asked further, "Are there many people coming and going to pawn things?"
Was there a lot of traffic at the pawnshop?
Cui Gu was stunned for a moment, thinking that only a noble guest who truly lived in the lap of luxury could ask such a question.
"Many, of course there are many. At our shop, there are minor officials or ruined households who pawn their fur coats in the spring and summer to get a few coins to get by. Once they have some money, they redeem them when winter arrives. That is a small pawn."
"On a higher level, there are merchants who use their backlogged goods to exchange for silver," Cui Gu explained in detail. "Additionally, we are close to the Examination Hall. When scholars from the provinces come for the imperial examinations, it isn't convenient for them to carry large amounts of silver, so they pawn treasures for cash. Some local officials who come to the capital for social maneuvering also frequent us…"
Through this detailed explanation, Muxue gained a general understanding. In this era, pawnshops were a vital part of people's economic lives, functioning much like an ancient financial industry. The pawnshop in her Cosmetics case had been issued five thousand taels of silver as capital, allowing the shop to use money to make more money. The imperial court had long held the custom to issue capital to generate interest, and there were pawnshops belonging to other members of the imperial family in the capital. For now, it was generally a guaranteed profit.
Calculating it by the end of the year, there should be a seven percent profit. Her five thousand taels of silver could generate three hundred and fifty taels of silver by next year.
If she could scale up this pawnshop and turn it into a chain with a dozen or so locations, she would never have to worry about money again.
It was just a pity that the time she could stay in the capital was too short.
After learning what she could, Muxue sighed as she left the pawnshop. "It's a pity I don't have much time. Otherwise, I could stay and watch exactly how the pawning and redeeming works."
It was getting late by the time they headed back. Worried the Princess might be tired, Rong'er had already sent word back to the manor to call for Sedan Bearers. Two sedans were already waiting at the pawnshop entrance for the Princess and the consort to ride.
Sitting in the sedan, Muxue pondered the business of the pawnshop the whole way.
The Emperor had bestowed this pawnshop upon her, clearly intended to be a stable source of interest income. She didn't need to manage the daily operations at all; she only needed to collect the interest silver at the end of the year.
However, projecting the future based on the current income and expenses, this interest silver would likely be insufficient to cover everything she needed. Though she could always write to the Emperor to cry poverty if she truly ran out of money and would surely receive some silver, she preferred her finances to be self-sufficient. That meant she had to find new sources of income.
Muxue wasn't a science student; she didn't know the tricks to making soap, glass, or other money-making inventions.
Starting with the pawnshop under her name and making something of it seemed like a good choice.
However, there were natural disadvantages. She could likely only stay in the capital for another two or three months. Once she reached Mobei, her reach would be too short, and interfering in the management would be difficult.
She still needed to plan this out carefully.