Legend of the Magnate Episode 9 Recap
> Legend of the Magnate Recap
At Jinyang Villa, Kang Suyuan, the eldest son of the Kang family, addressed an assembly of influential Shanxi merchants. Dressed in mourning, he recounted his family’s rise from humble beginnings, starting with an ancestor who, through integrity, gained the trust of friends who helped establish an escort agency. He acknowledged the Kang family’s recent overconfidence, which led them to accept a perilous mission to transport military supplies for the imperial court.
A devastating fire destroyed these supplies, leading to his father’s death from distress. To compensate the government and mitigate further national suffering during wartime, Kang Suyuan announced the public auction of his family’s extensive properties, which included 40,000 mu of farmland, 217 shops, and three large restaurants across Shanxi, Shaanxi, and Sichuan.
He stated that out of respect for his ancestor’s vow never to burden his peers, he would not seek assistance from the other seven families of the "Eight Families" alliance. During the bidding, offers quickly climbed, reaching fourteen million taels. Li Qin noted Su Zixuan’s unusual silence, prompting him to ask why she wasn't competing for the valuable assets. Su Zixuan responded cryptically that "there are lots of things in this world more valuable than money," then exited the hall.
Gu Pingyuan, hearing this, immediately interpreted her words as a veiled threat concerning "human lives." Moments later, chaos erupted as several merchants who had made high bids were found murdered outside. As the terrified crowd panicked, Manager Li attempted to restore order by falsely claiming the commotion was due to drunken guests. Su Zixuan returned calmly, and when Gu Pingyuan cautiously asked her to step aside in the bidding, she subtly threatened him, causing him to concede.
First Madam Jin and Manager Li suspected that an opportunistic individual among the attendees was attempting to seize the Kang family's assets without payment. Their concerns were abruptly overshadowed by the dramatic arrival of Prince Shen, an imperial Prince of the Iron Hat, accompanied by soldiers.
The Prince, enraged that his military campaign was being delayed in Shanxi due to the missing supplies and the merchants' continued haggling amidst a national crisis, ordered the immediate arrest of all Eight Families' managers, including Gu Pingyuan, for failing to resolve the supply issue. He declared that if the money was not produced within three days, none would survive. As they were led away, Su Zixuan cynically remarked that despite their wealth, they were "nothing."
Imprisoned and forced to subsist on spoiled porridge, the once-proud merchants of the Eight Families found themselves in a dire situation. Gu Pingyuan, now inextricably linked to them as the new owner of the Kang family's property, accepted his fate, even consuming the foul food.
Meanwhile, Li Wantang, Li Qin's father, revealed his ambitious scheme to Su Zixuan: to establish the "Taiping Bank" in Pingyao, expanding its reach across the Qing Empire to "swallow" all regional draft banks and secure a monopoly over Shanxi's financial landscape, all while also pursuing King Li's treasure.
Li Qin later confronted his father, denouncing his methods as "robbery, bullying with power, and kicking people when they're down," but Li Wantang dismissed his son's moral qualms, advising him to pursue an official career instead. Elsewhere, Wang Tiangui recognized the sinister implications of Li Wantang's plan, understanding that any loans extended by Taiping Bank would effectively enslave the Eight Families.
Prince Shen's aide visited the prison, offering the merchants a proposition: Taiping Bank would cover the demanded 24 million taels if they signed loan agreements. The merchants rejected this outright, arguing that the funds belonged to their depositors and that such a massive withdrawal would destabilize Shanxi. Li Wantang then made a personal appearance, feigning concern and offering his assistance. The merchants, however, remained defiant, refusing his help and denying the existence of King Li's treasure.
Gu Pingyuan engaged Li Wantang in a philosophical debate, asserting that money is a "public tool" devoid of inherent morality and that human failings should not be attributed to wealth. Li Wantang, impressed by Gu Pingyuan’s intellect and insight, acknowledged him as the young man his son, Li Qin, had often spoken about.
Back with Prince Shen, Li Wantang admitted the merchants were more cunning than anticipated, comparing them to stingy individuals whose money was "strung on their ribs," requiring force to extract. He reiterated that to obtain King Li's treasure, they needed to be pushed to "the brink." He then unveiled his grand conspiracy: he had orchestrated the burning of the military supplies as a "chain of traps," deliberately implicating the Kang family and, by extension, the Eight Families.
His ultimate goal was for Prince Shen to secure the treasure, while he would dominate Shanxi's financial power. Prince Shen, facing pressure from the imperial court to advance into Shandong to suppress a rebellion, issued a stark warning: if the plan failed and the treasure remained unfound, Li Wantang's head would compensate for the lost supplies. In the prison, as starvation set in, Gu Pingyuan's keen intellect unraveled the conspiracy.
He realized the entire sequence of events, from the burned military supplies to their imprisonment, was a "chain of traps" aimed at coercing them into revealing King Li's treasure. He convinced the other merchants that mere payment would not suffice, as the true target was the treasure. He proposed a counter-strategy: they should feign compliance by signing IOUs with Prince Shen to gain time.
Then, they would unite to confront Li Wantang directly, believing that without Prince Shen's backing, Li Wantang would be less formidable. To address concerns about potential bank runs and to facilitate seamless inter-family transactions without needing physical silver, Gu Pingyuan introduced the concept of a "chief manager" to monitor finances and declare an "alliance of the Eight Families," ensuring collective support against any individual bank runs.
He volunteered for the role, earning the trust and support of the other merchants, who now recognized him as one of their own. With the Eight Families united under his leadership, Gu Pingyuan declared his intent to negotiate with Prince Shen, confidently stating that by the next day, they would no longer endure spoiled porridge. He called for the guards, demanding a private audience with Prince Shen.
When challenged, he asserted that while he, an ordinary person, might not warrant such an audience, the "silver" he represented certainly did. Meanwhile, Prince Shen ordered 20,000 troops to be deployed to the Mount Liang area, tightening his grasp on the region.
