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As with many other Chinese gods, the proto-being of the God of Wealth, Ts'ai Shên, has been ascribed to several persons. The original and best known until later times was Chao Kung-ming. The accounts of him differ also, but the following is the most popular.

When Chiang Tzu-ya was fighting for Wu Wang of the Chou dynasty against the last of the Shang emperors, Chao Kung-ming, then a hermit on Mount Ô-mei, took the part of the latter. He performed many wonderful feats. He could ride a black tiger and hurl pearls which burst like bombshells. But he was eventually overcome by the form of witchcraft known in Wales as Ciurp Creadh.

At once he drew five talismans on yellow paper, burned them, and ordered his celestial general, Chao Kung-ming, to take his sword and kill the five musicians. The order was promptly executed, and the T'ien-shih informed the Emperor, who received the news with ridicule, not believing it to be true. He went to his seat and pulled the wire, but all remained silent.

Chiang Tzu-ya made a straw image of him, wrote his name on it, burned incense and worshipped before it for twenty days, and on the twenty-first shot arrows made of peach-wood into its eyes and heart. At that same moment Kung-ming, then in the enemy's camp, felt ill and fainted, and uttering a cry gave up the ghost.

Later on Chiang Tzu-ya persuaded Yüan-shih T'ien-tsun to release from the Otherworld the spirits of the heroes who had died in battle, and when Chao Kung-ming was led into his presence he praised his bravery, deplored the circumstances of his death, and canonized him as President of the Ministry of Riches and Prosperity.