Ho Ta (1750 – 1799): The Powerful Minister Under the Reign of Emperor Qianlong
Ho Ta, a powerful minister during the Qianlong era of the Qing Dynasty, is infamously recognized as one of the most corrupt officials in Chinese feudal history. Historical records indicate that when Ho Ta was arrested, the assets confiscated from his home totaled 800 million taels of silver, along with numerous documents of ownership for shops and land. This amount is equivalent to the Qing Dynasty’s treasury accumulation over 15 years.
The wealth undoubtedly relates directly to Ho Ta’s corrupt practices, but a significant portion of it was also earned through his unique talents as an official.
A Keen Businessman
Ho Ta was exceptionally astute in business, willing to invest in commodities that few dared to pursue at the time. During the Qing Dynasty, mining was a high-risk industry due to substantial investments, slow returns, and complex management, deterring many traders from participating.
Contrary to the trend, Ho Ta ventured into coal mining in the regions of Mendaokou and Xiangshan. He recognized the potential of this emerging industry, and history has proven that coal is a crucial resource for both daily life and various industrial sectors. This indicates that Ho Ta possessed a modern and pioneering business mindset.
His investment portfolio was extensive, covering finance, real estate, mining, logistics, and medicine. He owned 12 pawnshops in Beijing and managed financial offices, porcelain shops, archery shops, grain stores, restaurants, casinos, and sedan chair rentals.
In feudal times, sedan chairs were comparable to modern cars. Ho Ta managed to dominate this market right in the capital.
Additionally, Ho Ta expanded into transportation, owning 80 large carts specialized in cargo transport for clients, operating in a way similar to today’s express delivery services.
However, real estate became Ho Ta’s most significant source of wealth. In the 52nd year of the Qianlong reign, several uprisings forced landlords in various regions to sell their land and assets at low prices to escape the chaos. Ho Ta seized the opportunity and amassed a considerable amount of land.
Once stability returned to the nation and land prices increased, Ho Ta sold some properties at higher rates, but primarily, he leased them to generate a steady cash flow. In Beijing alone, he owned 35 rental properties with a total of over 1,000 rooms, showcasing his vision and boldness in business.
Not only was Ho Ta adept at making money, but he was also highly skilled in asset management. He adhered to the principle of “clear financial dealings among relatives,” treating family and friends equally, requiring anyone borrowing money to sign a promissory note, pay interest, and provide collateral.
For instance, Ho Ta’s grandfather once borrowed 2,000 taels of silver from him. Concerned that his grandfather might not repay on time, Ho Ta insisted on taking the land deed as collateral. Similarly, his uncle borrowed 15,000 taels, and Ho Ta lent it at an interest rate of 1% per month, leading to a total repayment of 21,000 taels including interest.
Bringing Wealth to the Emperor
Ho Ta was regarded as intelligent, shrewd, and sophisticated. Historical records describe him as “graceful in demeanor, not arrogant, eloquent, humorous, yet extremely cautious.”
When in the presence of Emperor Qianlong, he made the emperor feel very comfortable and secure. Whenever faced with complicated governmental tasks, Qianlong would assign them to Ho Ta, and he consistently delivered satisfactory results.
At that time, the Qing Dynasty’s Ministry of Internal Affairs faced severe financial shortages, causing headaches for the emperor. The heads of this ministry lacked business acumen, leading to continuous losses for many government-run enterprises.
Shortly after Ho Ta took office in the Ministry of Internal Affairs, he revitalized this poorly managed government machinery, not only covering the financial deficit but also achieving net profits.
Due to Ho Ta’s exceptional abilities, Emperor Qianlong appointed him as the tax supervisor at Sung Wen Gate. Under his management, the tax revenue from this gate significantly increased, making it one of the top tax sources in the country.
Gaining the Trust of Emperor Qianlong
Thanks to his genuine capabilities, Ho Ta earned the trust of Emperor Qianlong, who gradually entrusted him with complete control over all financial agencies. Ho Ta held various positions, including Minister of the Ministry of Revenue, Senior Minister of the Ministry of Revenue, and Grand Minister of Internal Affairs.
By holding key financial positions in the country and receiving favor from the emperor, Ho Ta’s corruption and bribery flourished, resulting in an ever-growing wealth.