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During the Kangxi Dynasty, there was an official named Cao Yin, who held both the posts of Jiangning Weaver and Lianghuai Salt Inspector. However, he unfortunately died during his term of office, leaving a huge deficit of more than 300,000 taels of silver. This shortfall amounted to the purchase of more than 400,000 stone of rice, which was incalculable under the purchasing power at that time. The Kangxi Emperor faced a serious problem of how to deal with this huge deficit.
The relationship between the Kangxi Emperor and the Cao family was very close. Cao Yin's father, Cao Xi, served as a bodyguard in the imperial palace, and Kangxi was raised by Cao Yin's mother, Sun Shi, at an early age, and the two grew up together. After Kangxi succeeded to the throne, Cao Yin became his close adviser. Kangxi trusted the Cao family and even regarded it as his own. Under the trust of Kangxi, Cao Yin served as the weaver of Jiangning and the salt inspector of the two Huai, and was responsible for important national tax affairs. However, in his busy official duties, Cao Yin's affairs were piled up, and it was difficult to deal with the huge deficit.
Cao Yin's deficit was not due to embezzlement and personal gain, but was used for Kangxi's succession ceremony to the south of Jiangnan. He was in charge of the Kangxi Southern Tour five times, each time requiring huge funds. Cao Yin built the West Garden, and this project alone cost 190,000 taels of silver. This use made the Cao family's financial situation worse, but these expenses were of great significance to Kangxi's national politics. Kangxi was well aware of Cao Yin's efforts for him, but these deeds could not be acknowledged in the open, and eventually formed a huge financial deficit.
Kangxi did not take harsh measures against Cao Yin and the Cao family. Instead, Kangxi expressed forgiveness and understanding to the Cao family. He said to Cao Yin's son Cao Qin, "My uncle's name is very good", praised Cao Yin's outstanding performance in the position of weaving official, and even planned to let Cao Yin succeed him as Jiangning Weaving. Kangxi not only did not ask the Cao family for compensation, but also gave Cao Qi an additional 30,000 taels of silver to pay off the Cao family's private debts, and the deficit of public funds was allocated by the future governors of the two Huai, and Kangxi hoped that the Cao family could tide over this predicament.
However, in the sixth year of the Yongzheng Dynasty, the Cao family was liquidated and raided because of the deficit, and the Cao family's brilliant life was quickly shattered. This event revealed the irrationality of the financial system during the feudal dynasty, and the emperor's financial deficit was eventually paid for by loyal courtiers.
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