Legend of the Magnate Episode 26 Recap
> Legend of the Magnate Recap
Gu Pingyuan suggested to Manager Li that they collaborate on an outward expansion of their business, aiming to profit from foreign trade rather than internal strife. Manager Li, acknowledging the formidable East India Company’s monopoly, expressed reservations about their chances. Gu Pingyuan, however, dismissed the company as a mere reseller and challenged Manager Li, asking if he was losing his courage with age.
He then proposed a strategy: to "incite the tiger to eat the wolf," by pitting foreign powers against each other. Meanwhile, in Anhui, Gu Pingyuan’s brother, Pingwen, quickly returned to inform Old Master Hu of Gu Pingyuan's plans. Reassured, Old Master Hu rejected Li Wantang's renewed invitation, tearing up the card and feigning illness. Li Wantang, sensing something amiss due to Old Master Hu’s refusal to meet, decided to visit in person.
Upon arrival, he pushed past the staff and entered, finding Mr. Wu, a silk merchant from Hangzhou known as Wu Caishen, discussing business with Old Master Hu. Mr. Wu, though modest, revealed that he was arranging the purchase and transport of tea for a friend. Li Wantang, astonished by the scale of the transaction covering the entire Anhui province, pressed for the friend’s identity.
Mr. Wu, after checking a note on his fan, disclosed the name: Gu Pingyuan, head of the Shanxi Merchants' Association, a prominent figure whose tea business extended to Mongolia. Li Wantang was infuriated, realizing the tea was already being transported to Shiliupu Pier for trade with foreigners, a direct defiance of imperial law. He then went with his son to inform the Shanghai authorities. At Shiliupu Pier, Gu Pingyuan and Manager Li met Captain Todd and finalized a sales contract.
Todd, impressed by their generous shipping fees, invited Manager Li to accompany the tea shipment to India, a prospect Manager Li eagerly accepted. Gu Pingyuan also expressed his ambition to one day own a large ship and expand their tea business globally. However, their discussions were interrupted by Mr. Hart from the customs office, who accused Gu Pingyuan of violating imperial laws by conducting unauthorized foreign trade and declared he would not allow the ship to depart.
Manager Li sarcastically noted Hart’s unexpected fluency in Mandarin and Gu Pingyuan's clever schemes. Hart, asserting his authority as a Qing official, warned Gu Pingyuan against defying the court’s monopoly on foreign trade, threatening arrest and punishment. Gu Pingyuan, citing “The Elements of International Law,” countered that Captain Todd’s purchase was a private transaction, legally distinct from state-controlled trade, and therefore outside the customs’ jurisdiction.
He argued that the tea had been declared and taxed, and the law did not specify limits for private purchases. Despite Hart’s accusations of exploiting loopholes and his attempts to persuade Gu Pingyuan to collaborate with Li Wantang, Gu Pingyuan refused. After further debate, Gu Pingyuan agreed to include Hart’s friend (Li Wantang’s agent) in the deal, allowing him to travel to India with the shipment, but without any profits, reserving future partnership for when his business was global.
Hart, though admiring Gu Pingyuan’s shrewdness, lamented that “oriental cleverness” was futile against powerful cannons. Soon after, Mr. Wu and Old Master Hu arrived at the pier. Gu Pingyuan presented Old Master Hu with silver notes from the Four Major Banks and shipping invoices, pleasing the old master. Observing Li Wantang’s furious expression from afar, Gu Pingyuan felt a sense of triumph. However, moments later, officials from the Shanghai Bureau of Foreign Affairs apprehended Gu Pingyuan.
Simultaneously, customs anti-smuggling ships intercepted the warship. On board, Captain Todd initially refused to intervene in what he considered a trade dispute and threatened to dump the tea into the sea to avoid trouble. Manager Li frantically intervened, stopping the crew from discarding the cargo and declaring he would bear all consequences. He challenged the captain’s cowardice, emphasizing his own status as China’s most traveled tea merchant whose vast wealth could cover the entire shipment.
Manager Li demanded an hour to resolve the dispute. Captain Todd, giving them an hour to resolve the dispute, then ordered the opposing customs ships to stand down or face bombardment, and sounded the war siren. Gu Pingyuan and Li Wantang were brought before Intendant Liu Ruifen of the Shanghai Bureau of Foreign Affairs. Li Wantang presented his imperial seal, asserting his exclusive rights and accusing Gu Pingyuan of illegal trade.
Gu Pingyuan countered with his personal contract with Captain Todd. Although Intendant Liu initially threatened Gu Pingyuan, he reconsidered upon learning that Gu Pingyuan was a Pacification Commissioner appointed by the Empress Dowager. Caught between the influential Li Wantang and the well-connected Gu Pingyuan, Intendant Liu urged them to negotiate a compromise. Li Wantang approached Old Master Hu, offering to buy the tea at the standard price if the shipment was withdrawn.
When Old Master Hu deferred to Gu Pingyuan, Li Wantang raised the offer by ten percent. However, Gu Pingyuan refused, stating that withdrawing would make him appear dishonest and undermine his reputation. Old Master Hu, loyal to Gu Pingyuan, declared he would follow Gu Pingyuan into a “pit of fire” if asked. At that critical moment, Intendant Liu received news that the warship had deployed its cannons and was prepared to fire on the customs ships within the hour.
Fearing a catastrophic international incident that would cost him his position, Intendant Liu pressured Li Wantang to back down. Li Wantang, after a moment of intense deliberation, conceded, faced with the dire consequences. On the warship, Captain Todd received the order to withdraw his cannons as the opposing ships had retreated. Manager Li, witnessing this, realized Gu Pingyuan had succeeded and let out a sigh of relief.
Back at Intendant Liu's office, Li Wantang bitterly acknowledged Gu Pingyuan’s cunning, regretting not having kept him in Ningguta. His subordinate tried to console him, suggesting it was Li Wantang’s mercy that allowed Gu Pingyuan to thrive. In Shanxi, First Madam Jin had Gu Pingyuan brought back. The Eight Families held a celebratory banquet for him. Gu Pingyuan explained his successful, albeit risky, strategy to sell the Anhui tea directly to India, bypassing Li Wantang.
First Madam Jin and the others praised his resourcefulness and celebrated his victory with fine fruit wine, revealing it was a gift to Manager Li from French merchants in Xinjiang. During the feast, First Madam Jin subtly steered the conversation to Gu Pingyuan's personal life. She confronted him about Chang Yu'er, who, due to her affection for him, had decided to "remain single all her life to take care of her father."
She pressed him to clarify his intentions towards Chang Yu'er, pointing out the girl's unwavering devotion and her "coming from afar to save" him. Gu Pingyuan expressed his hesitation, explaining that Yu’er knew of his previous engagement in Anhui, which had fallen through. He worried that returning to her now would disrespect her, and he feared exposing her to the hardships of his potentially tumultuous life.
Seeing his hesitation, First Madam Jin and the others jokingly threatened to find Chang Yu’er another suitable husband, pushing Gu Pingyuan to declare his feelings. Realizing his potential error in judgment, Gu Pingyuan immediately announced his intention to propose to Chang Yu’er. First Madam Jin, pleased with his decision, revealed she had already arranged a carriage for him to return to Anhui the next morning to consult his mother and prepare.
Gu Pingyuan thanked her for her guidance, admitting he nearly "misunderstood and misled" Chang Yu’er and himself. Upon arriving home, Gu Pingyuan’s brother, Pingwen, urgently informed him that their mother was calling. Gu Pingyuan rushed to his mother, who calmly revealed that Bai Yimei had left after regaining consciousness.
Despite their attempts to persuade her, Bai Yimei insisted on leaving, asking them not to mention her name again to avoid bringing trouble to the family, stating that "Ms. Bai no longer exists in the world." Gu Pingyuan, remembering his promise to Mr. Bai to protect Yimei, was distraught and worried about finding her.
His mother, however, urged him to accept her decision, explaining that Yimei did not want to see him again, remarry, or live as a burden, idly waiting for old age. She advised him to "learn to let go," as "all good things must come to an end." Later, at Mr. Bai’s tomb, Gu Pingyuan reflected on Yimei’s "grit," remarking that she, a weak woman, possessed more courage than he did. He assured Mr. Bai that Yimei would be fine and promised to return if he heard any news of her.
