Chapter Eleven: Exchanging a Fortune

Gently moving the porcelain plates aside, Ning Zhiheng steadied his emotions and reached into the earthen jar to search. Feeling the cold solidity of metal beneath his fingers, his heart soared with joy; this immense fortune had finally come into his possession.

Once he had extracted all the gold ingots from both jars and placed them on the ground, the pile of gleaming gold under the lamp's glow dazzled his eyes. Ning Zhiheng felt his heart might leap from his chest. In his previous life, half a lifetime's savings, combined with the value of his antique collections, amounted to no more than a few million at best. Yet the gold before him now was worth ten, even a hundred times more. The disparity was staggering, showing just how vital opportunity was to a person; a single night’s discovery could far surpass decades of accumulation.

These gold ingots were uniform in shape, forged from the same batch. He picked up one, carefully examining it. On the base, the characters for "ten taels" were stamped, but there was no year, indicating they were privately smelted. Gold’s density was considerable; its unexpected heaviness pressed down in his palm. Having collected gold artifacts in his previous life, he was skilled in identifying genuine gold. The bright yellow hue and soft texture left him certain: these were authentic ingots, of high purity.

There were roughly three hundred ingots here, at least three thousand taels in total. Three thousand taels of gold! In any era, that was a staggering fortune, enough for Ning Zhiheng to live a life of wealth and comfort in these turbulent times.

It took him a long while to calm his excitement. He prepared six softwood chests, neatly arranging the ingots and filling them to the brim. The porcelain plates were gently returned to the jars; their value was negligible now, and taking them out would only be a burden. Better to leave them buried.

He spent another hour filling in the earth and tamping it down, then replaced the blue bricks exactly as before. A splash of clean water over the surface would soon erase any signs of excavation. He had paid ample rent; the landlord would not bother him for some time. Even if someone noticed something unusual after a month or two, he would be long gone.

By now, it was five in the morning. Having suddenly acquired such a fortune, Ning Zhiheng was exhilarated, with no hint of sleepiness. He freshened up quickly, washing his face with cold water to clear his mind. Then, he removed his military uniform and put on a prepared suit, paired with gold-rimmed glasses. Now, he resembled a refined young gentleman from a wealthy family.

Taking advantage of the pre-dawn darkness, he carried the six chests to his jeep parked at the door. After locking the house and driving away, he circled through seven or eight districts before stopping. He would not return to this courtyard again; the locked door ensured the landlord would not dare open it. Besides, rent was paid in advance; the landlord had no losses and likely would not meddle. When he eventually discovered something amiss, much time would have passed and everything would be changed.

Not far from his vehicle stood a bank named South Commerce Bank. This institution enjoyed a good reputation in the capital, Nanjing, and was said to have British backing. South Commerce Bank was his first choice for the exchange; if the transaction didn’t go smoothly or couldn’t be completed in one go, he had backup options.

He waited in the car until daylight, when the bank opened for business. Only then did Ning Zhiheng drive to the entrance, signaling to the bank attendants at the door.

The two attendants, noting his distinguished appearance, realized he was no ordinary customer and hurried over with welcoming smiles. Ning Zhiheng said little, handing each a five-yuan note as a tip and gesturing toward the six chests in the vehicle.

Receiving so much tip money so early—almost half a month’s salary—their faces bloomed with joy. They were sharp-eyed, quickly deducing that a wealthy young master had come to deposit valuables. They called him “young master” repeatedly as they carried the chests into the lobby, which was still quiet with only a few staff present.

Ning Zhiheng frowned. “Find a quiet place and call your manager to see me.”

The two immediately understood; the weight of the chests had already hinted at a big transaction. They moved the boxes into a finely decorated office and asked Ning Zhiheng to wait, then went to notify the manager.

The manager soon arrived—a middle-aged man in a tailored suit, sharp and capable. “My surname is Chen, Chen Kangshi. I’m the department manager at South Commerce Bank, overseeing savings operations. I hear you have important business to discuss?” Chen spoke warmly. He’d spent years in the business world, meeting countless people. The young man before him sat straight on the sofa, his gaze calm and gentle, yet not easy to approach.

Ning Zhiheng offered a polite smile and slight nod. “Manager Chen, my name is Lin Yifan. I have some household gold I wish to exchange for cash today. I wonder if South Commerce Bank can handle such a transaction?”

“Mr. Lin, you jest. South Commerce Bank has a sterling reputation in the industry; otherwise, you wouldn’t have come to us. May I ask how much gold you intend to exchange?” Hearing it was gold, Chen Kangshi’s eyebrows shot up and excitement sparked in his eyes.

Precious metals were currently scarce and costly on the market. The Nationalist government had last year resolved to reform the currency and issue legal tender precisely because domestic precious metals, especially gold and silver, were dwindling. With American and British silver prices rising sharply, China’s silver was flowing out in large quantities.

A wave of silver run-ins swept society, nearly collapsing the domestic financial market. Although the government restricted silver, much was still smuggled out. Banks feared nothing more than lacking gold reserves. The three major state banks forcibly acquired market gold and silver, and even South Commerce Bank, with its British connections, could not intervene. Now, someone had brought gold to their door—a windfall not to be missed!

“What is your current exchange rate?” Ning Zhiheng, though he had an idea, wanted to negotiate; who would complain about earning less?

“That depends on the purity of your gold, and whether you want dollars, pounds, or legal tender. If the quality is good, we can offer half a percent above market rate.” Chen replied.

Ning Zhiheng’s expression cooled. “Manager Chen, you’re quite the businessman. If it were just market price, why would I come to South Commerce Bank? The market has price but no buyers—does anyone come to you for gold exchange at that rate?”

He curled his lip in disdain. “It seems Manager Chen isn’t sincere about this deal. Well, I’ll try another bank.” He stood as if to leave.

Chen hurried to stop him, knowing Lin wasn’t truly going but was dissatisfied with the offer. He was no amateur. Quickly, Chen increased his offer. “Ten percent above market—Mr. Lin, don’t rush. Business is always about negotiation!”

The two went back and forth, both seasoned negotiators. Eventually, Ning Zhiheng grew impatient; after all, the seller controlled the market, and he held the gold. If things fell through, he could simply walk away. He wasn’t a true businessman and disliked prolonged haggling.

“Manager Chen, my family has been in business for generations. If not for urgent need, I wouldn’t have brought out all our assets. To be frank, if I can’t raise enough cash, I’ll face trouble at home. Believe me, I could get a ten percent premium at Central Bank.”

Chen had started out calm, accustomed to business negotiations and probing for maximum profit. But seeing Ning Zhiheng’s impatience, he realized the price had reached Lin’s limit. From the start, Chen had noted the young man’s refined manner, likely with a military background—his judgment was sharp and accurate.

Such a person was worth befriending. The bank belonged to the boss, but connections were personal. In these times, friends meant opportunities; it never hurt to cultivate talented acquaintances.

He made up his mind and heartily declared, “Mr. Lin, since you’re in difficulty, I won’t haggle over every penny. If the gold is pure, I’ll offer fifteen percent above market. That’s my final concession!”

Ning Zhiheng’s expression finally softened; this was his bottom line. The origin of the gold could not withstand scrutiny, which was why he avoided revealing his true identity. Exchanging at Central or Bank of China would mean a worse rate; only a strong private bank like South Commerce was ideal.

With agreement reached, they proceeded to inspect and settle the gold. Although Chen was prepared, the sight of six opened chests stunned him into silence. Good heavens, this was a fortune of staggering proportions!

After professional examination for purity and weight, the total—at a fifteen percent premium—was exchanged into pounds sterling per Ning Zhiheng’s request: a total of eighteen thousand pounds.

Eighteen thousand pounds—equivalent to seventy-two thousand dollars, or twenty-one thousand silver dollars before the currency reform! In Beiping, a single silver dollar could buy a lavish lamb hotpot meal; even in Nanjing, a three-person family’s monthly living expenses were only three silver dollars.

Per Ning Zhiheng’s instructions, all funds were placed in a special leather case. Chen originally tried to persuade him to deposit the money in South Commerce Bank and withdraw with checks as needed, but Ning Zhiheng firmly refused.

He knew well: within a few years, a wave of national and foreign banks would collapse amid prolonged war; some persisted only a few years before declaring bankruptcy. Countless people watched their lifetime savings vanish, many driven to suicide with useless passbooks in hand. Ning Zhiheng had no intention of becoming one of them.