NovelCat

II. Baptism by the Market

“First time here, young man?”

Turning around, he found a middle-aged man dressed in a haori jacket and square-buckled obi. With his swarthy face and sharp eyes, he looked more like a gambler than a merchant.

“Yes, I am Inosuke of Harimaya.”

“Ah, Harimaya. That house is famous for solid business practices. I’m called Sōbei. I’m somewhat known in Dojima as a market speculator.”

Sōbei. Inosuke had heard that name before. A nouveau riche speculator who had gained enormous profits in a short time. His father constantly warned, “Do not associate with such people,” but Inosuke’s curiosity could not be suppressed.

“A market speculator, you say?”

“Just watch.”

Sōbei grabbed Inosuke’s arm and pushed through to the front row of the trading floor. What Inosuke witnessed there was beyond imagination.

“October delivery, one hundred koku buy!” “Same, fifty koku sell!” “Price, two ryō three bu!”

In the center of the exchange, ledger rice transactions repeated like a raging torrent. Though not a single grain of actual rice moved, enormous quantities were bought and sold, and vast sums of money changed hands.

“That’s what they call buying green fields,” Sōbei whispered in Inosuke’s ear. “While the rice stalks are still green and growing in the fields, we buy and sell the autumn harvest rice. With information, calculation, and courage, you can earn great wealth without holding a single grain of actual rice.”

Inosuke’s heart pounded violently. This was precisely the means to elevate Harimaya in one stroke. Was there not a way to use the trust and capital built over thirty years since his father’s generation more efficiently?

The market suddenly moved. Some rumor seemed to have spread, and selling dominated as rice prices plummeted sharply. Amid the pandemonium, one merchant fled the exchange with a pale face. Meanwhile, others maintained calm expressions while reaping enormous profits.

“It’s terrifying,” Inosuke gasped.

“Terrifying, but therefore fascinating. A young master of Harimaya should be able to transform that terror into enjoyment.”

In Sōbei’s words, Inosuke sensed new possibilities. With Harimaya’s solid foundation, venturing into such speculation would not lead to ruin. Rather, might they not fall behind emerging forces while adhering to defensive strategies?

III. Father and Son in Conflict

That afternoon, returning to Harimaya’s main store, Inosuke could not sit still. He called out to Kyūshichi, the chief clerk calculating with an abacus at the accounting desk.

“Kyūshichi, how much capital does Harimaya have on hand?”

“Let me see. Excluding the regular trading portion, approximately one thousand ryō would be freely available.”

One thousand ryō. With that much, considerable speculation could be undertaken. Inosuke’s heart soared.

“Young master, some new business venture?” the clerk asked with concern.

“No, just something I’m considering.”

At that moment, his father Genemon emerged from the back room. Though fifty-two years old with graying hair, he maintained an erect posture and the dignity of a merchant.

“Inosuke, I hear you went to Dojima today.”

“Yes, I went to observe the rice exchange.”

“Hmm. And what impressions did you form?”

Inosuke hesitated momentarily but decided to answer honestly.

“Frankly, I was amazed. I had no idea such transactions existed. Perhaps Harimaya should engage more actively in such methods.”

Genemon’s expression darkened.

“More actively, you say?”

“Ledger rice transactions. I learned there are methods to generate profit without moving actual goods. With Harimaya’s reputation and capital—”

“Stop.”

His father’s voice was quiet, but anger could be felt beneath it.

“For three generations, Harimaya has built its reputation through honest dealing in actual goods. I will not have that tainted by gambling-like speculation.”

“But father, times are changing. If we don’t adopt new methods—”

“New does not necessarily mean better. The foundation of commerce is trust. We must not lose that for the sake of immediate profit.”

Inosuke wanted to argue back but was overwhelmed by the sharpness of his father’s gaze. Simultaneously, however, rebellious feelings also welled up in his heart. Why did his father categorically reject new possibilities? Why would he voluntarily close off opportunities to develop Harimaya further?

IV. Chiyomatsu’s Whispers

That night, as Inosuke was reading in his room, the sliding door quietly opened. The figure who appeared was Chiyomatsu. This nineteen-year-old apprentice had transferred to Harimaya from another house and was known for being quick-witted and well-informed.

“Young master, thank you for your hard work.”

“Chiyomatsu, is it? It’s late. What do you need?”

Chiyomatsu looked around, then lowered his voice.

“Actually, it’s about the Dojima matter. I heard that you spoke with Sōbei-san today.”

“You know about that?”

“I have connections at Dojima. Sōbei-san is indeed a skilled speculator. However…”

“However?”

“He’s rumored to use somewhat forceful methods. They say he skillfully manipulates information to move the market in his favor.”

Inosuke frowned. That was certainly not praiseworthy. Yet at the same time, his interest was piqued.

“Specifically, what kind of methods?”

Chiyomatsu lowered his voice further.

“For example, deliberately spreading rumors of crop failures in various provinces, or circulating groundless speculation about the shogunate’s rice policies. He moves the market dramatically through such means, then profits from the confusion.”

“I see…”

Those were indeed problematic methods. However, Inosuke’s heart harbored different thoughts as well. If he could partner with someone like Sōbei, might he not achieve greater profits while leveraging Harimaya’s solid foundation?

“Chiyomatsu, what do you think?”

“I will follow your judgment, young master. However…”

“However?”

“I too hope to someday establish independent commerce. For that, I must learn new methods. If you choose that path, young master, I would accompany you.”

Ambitious flames dwelt in Chiyomatsu’s eyes. For this low-ranking servant, Inosuke’s new challenge represented an opportunity to expand his own possibilities.

V. Yearning for a New Era

The next morning, Inosuke visited Dojima again. This time he was alone. While gazing at the exchange’s tumult, he was reaching his own conclusion.

As his father said, Harimaya’s reputation was precious. However, if they remained content with the status quo to protect it, they would eventually be left behind by the times. What was needed was a balance between traditional reliability and new methods.

He understood from Chiyomatsu’s account that Sōbei’s methods were problematic. But surely speculation trading itself was not inherently evil. The issue was what attitude one brought to it.

“Harimaya’s young master, you’ve come again.”

Turning around, yesterday’s Sōbei was standing there.

“Sōbei-san, thank you for your guidance.”

“How was yesterday’s market? Interesting, wasn’t it?”

“Yes, it was educational. If you wouldn’t mind, could you teach me in more detail?”

Sōbei’s eyes gleamed.

“So you’ve made up your mind. Very well. If an established house like Harimaya gets serious, we might accomplish something interesting.”

For a moment, Inosuke pictured his father’s face. But he quickly shook off that hesitation. As a merchant of the new era, he would carve out his own path. He would achieve results worthy of the Harimaya name and earn his father’s recognition as well.

With that resolve, Inosuke headed deeper into the exchange alongside Sōbei. The morning sun illuminated his back with powerful light.