In the early Western Han, a wealthy salt or iron industrialist, whether a semi-autonomous king or wealthy merchant, could boast funds that rivaled the imperial treasury and amass a peasant workforce of over a thousand. This kept many peasants away from their farms and denied the government a significant portion of its land tax revenue. To eliminate the influence of such private entrepreneurs, Emperor Wu nationalized the salt and iron industries in 117 BC and allowed many of the former industrialists to become officials administering the monopolies. By Eastern Han times, the central government monopolies were repealed in favor of production by commandery and county administrations, as well as private businessmen. COUNT 5
QSN1 In which year did Emperor Wu monopolize several industries? ANS1 117 BC QSN2 Who allowed industrialists to become officials in the newly state sanctioned industries? ANS2 Emperor Wu QSN3 During what period did the governmental monopolies become privatized once again? ANS3 Eastern Han QSN4 What did Emperor Wu do to negate the influence of private entrepreneurs? ANS4 nationalized the salt and iron industries QSN5 During what era could a wealthy iron industrialist be able to rival the treasury in funds? ANS5 Western Han