Running Head: FIRST MEMORIAL TOPIC
FIRST MEMORIAL TOPIC
For many centuries, salt had been a major industry and source of revenue for the Chinese
economy. In many parts of China salt is a readily available and there is a great number of people
who consume salt annually in China. Salt industry provided the government with large amounts
of revenue that was used to fund government operations in ancient China. Due to the revenues, it
was earning for the government, many of the ancient government monopolized the industry. Salt
industry was first monopolized in the seventh century where it was considered as an economic
good under state monopoly (Faure, 2016). The development of the state control of salt industry
reached maturity during the Ming dynasty as it provided a reliable source of revenue. During the
Ming dynasty, about half of the imperial revenue for the government came from the salt tax.
With the state revenue falling it was legitimate for the government monopoly on salt in
order to raise revenues to fund government operations. Ming salt monopoly came the
government faced financial hardships and the m...