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The importance of credit currency is self-evident.
If you control the oil, you control all the countries; if you control the food, you control all the people; if you control the currency, you control the world.
In later generations, why did China try so hard to promote RMB settlement and the internationalization of RMB? To put it bluntly, there is only one reason, that is, to circle resources, or to influence the finance of more countries.
The United States can control global finance because all goods in the world are mainly settled in US dollars, and the US dollar is an essential reserve currency for every country.
The United States is desperately trying to print money, do you want it? If you do, try to buy things from other countries with your own currency. Who will sell them to you
So you have some dollars
That's nothing. Now I'm printing money like crazy, the dollar has depreciated, and the dollars you have are worthless. How can they be enough
So you have to ask me for more dollars. You have to. Fine! You want it, but I can't give it to you for free. You have to exchange it for something.
When you control the world's finance, the actual situation is like this: you print money, and the whole world has to give you something in exchange for money.
Like Russia, it wants to bite the United States a few times, but it also has to shout everywhere about how much US dollar reserves Russia has. Once the national currency depreciates, it has to use US dollars to hedge. If the US dollar reserves in your hands are not enough and you cannot restore the confidence of the people, as the hedging continues, the US dollar reserves will continue to decrease, and the national currency will depreciate rapidly.
To achieve this, only credit currency can do it. Therefore, no matter how difficult it is, Qin Mu will not give up credit currency.
Now, after two or three years, with the support of the imperial court, the credibility of the Great Qin Treasure Note has been gradually established. This is a great thing, and its significance is no less than conquering the entire East and West Asia.
Qin Mu was very happy after listening to Xu Yingjie's report. He thought for a moment and said, "When printing paper money in the future, we can no longer call it treasure notes. This will make the people subconsciously equate the Qin Dynasty's paper money with the Ming Dynasty's treasure notes."
Xu Yingjie asked, "I wonder what new name your majesty has?"
Qin Mu said, "Let's call it Dragon Coin, and link it to the current silver dollar. First, we will gradually recover the original Great Qin Treasure Notes, and then launch new paper Dragon Coins. In addition to changing the 'Great Qin Treasure Notes' to 'Dragon Coins', we will try to keep the original printing style so that the people can have a period of adaptation."
"Yes, Your Majesty."
"Xu Qing, please ask the Banknote Bureau to print out the sample banknotes first and submit them to the officials for discussion."
The issuance of paper money is a serious matter and the emperor cannot issue as much as he wants alone.
In addition to writing the rules for issuing paper money into the "Ancestral Instructions", Qin Mu also planned to raise the issuance of paper money to a sacred level.
First of all, every time banknotes are issued, they must be discussed by all officials above the seventh rank in the court. If more than ten percent of the officials object, they cannot be printed.
Secondly, after the consensus was passed, the emperor had to lead all officials to the Temple of Heaven to worship heaven and earth, and to the Imperial Ancestral Temple to report to the ancestors, thanking heaven for the gift to the Qin Dynasty and thanking the ancestors for their blessings. In order to make the country rich and the people prosperous, and all industries flourished, more banknotes needed to be printed for circulation.
In short, you can't print money secretly. Every time you print a batch of banknotes, you must regard it as a very sacred thing and not mess around.
In this era, filial piety is taken very seriously by people all over the world. If any emperor violated the regulations on printing money in the "Ancestor's Instructions", it would be considered unfilial. I wonder if you would have the nerve to go to the Imperial Ancestral Temple and report to your ancestors.
Qin Mu decided to start with himself in order to form a routine and create a strong restraining force.
Of course, these are just tough measures to address the symptoms, and they may not necessarily guarantee that future monarchs will not print banknotes indiscriminately.
To fundamentally solve this problem, Qin Mu felt that it would ultimately depend on the improvement of the financial system, so that future Qin rulers and ministers would have a deep understanding of the nature of finance and the laws of its operation, and would know clearly that they could not mess around, as doing so would inevitably lead to a financial collapse.
To perfect it, you must first study it and understand it thoroughly.
"Xu Qing, finance is the lifeblood of a country. It is of great importance. Banks need to organize some talents in this field to conduct detailed research on finance, how to operate it, how to avoid risks, and now let finance play a better role in promoting industry, commerce, agriculture, people's livelihood and other aspects. All of this needs to be sorted out as much as possible."
Jin Lei, the attendant next to him, quickly wrote down every word of the emperor. His notes were almost like a diary, mainly recording the words and deeds of the emperor as important material for compiling the emperor's records in the future.
Xu Yingjie was in charge of Daqin's finance and commerce, and his duties were no less important than those of Shangshu Liu Boquan. He stood up and bowed, saying, "Your Majesty, I know that since last year, I have set up a department in the bank and recruited 23 people to conduct research on this aspect. Over the past year, we have achieved some results and compiled two related annotations."
"Oh? Okay, Xu Qing, send me a copy of the notes later. I'll take a look at it when I have time."
"Yes, I will send it to Your Majesty as soon as I get back."
"Finance involves a wide range of areas and is unpredictable. In addition, there are no previous theories to learn from. We can only explore and practice at the same time. We must persevere and study persistently. I am very pleased that Mr. Xu can think of setting up such a department. Don't be complacent with just a little achievement."
"Your Majesty, I have taken note of your teachings."
"I heard that Huitong Bank's deposits have exceeded 500 million dragon coins?"
"Your Majesty, as of May this year, the total deposit amount has reached 630 million dragon coins. Huitong Bank has 921 branches across the country, covering all prefectures. Except for some remote lower counties, all middle and upper counties have one or more branches. In addition, I am also preparing to send people to set up branches in Baiqi City in Jinghai Province, Fusu City in Luzon, Luoshui City in Qinghai and Tibet, Edo City in Japan, and Seoul in Korea."
"Set up a branch in Edo, Japan? Is it feasible?"
"Your Majesty, since Japan opened the Edo Port to Daqin for trade, Japan has become Daqin's largest trading partner. For example, last year, the number of large and small merchant ships traveling to and from Japan reached more than 600, with an average of nearly two ships arriving at the port every day. This is an unprecedented prosperity.
I asked the bank to do a risk assessment. Now the two countries have sent envoys to each other and established permanent embassies. The relationship is relatively stable. Since ancient times, the Japanese people have liked to use Chinese currency. The dragon coins of Daqin are also very popular in Japan. It can be said that the supply exceeds the demand. "
"What about the Tokugawa Shogunate? Are they also happy to see the Qin Dynasty's dragon coins circulate in Japan?"
"Your Majesty, the Tokugawa shogunate was reluctant at first, but their coin-minting technology was backward, and the coins they minted were counterfeit and inferior, and the people were not willing to accept them. In addition to using small silver coins for transactions, there are still many copper coins from the Ming Dynasty and even the Song Dynasty circulating in the market in Japan.
The quality of the dragon coins from the Qin Dynasty was better, and the Japanese people were eager to buy them. The Tokugawa shogunate banned them for a while, but as the trade volume continued to increase, the dragon coins that flowed into Japan privately could not be stopped.
I heard that later, Tokugawa Iemitsu had people dissolve the dragon coins and found that they contained enough silver to make no loss even if they were exchanged for silver, so he simply lifted the ban and allowed the dragon coins to circulate freely in Japan.
Qin Mu was secretly delighted when he heard this. On the surface, it seemed that it was not a loss to directly exchange silver for dragon coins, because dragon coins contained sufficient silver and there would be no problems in the short term.
But over time, when the Dragon Coin became the main currency in circulation in Japan and the right to mint coins was in the hands of Daqin, things became interesting.
Finally, we will promote paper dragon coins to Japan. If this step is also successful, we will be able to firmly control Japan's financial currency.
At that time, the only way for Japan to break free from the Qin Dynasty's control over its financial and monetary control was to defeat the Qin Dynasty through war.
But will Qin Mu give Japan such an opportunity? If he doesn't make him so poor that he can only buy pants, Qin Mu won't be named Qin.
"Xu Qing, since the Tokugawa shogunate has no objection, let the bank enter Japan as soon as possible. However, we must not rush into it. We must do it step by step, like boiling a frog in warm water. It would be best to sign some treaties with the Tokugawa shogunate so that they cannot go back on their word later. If they forcibly go back on their word, our Great Qin Royal Navy can sail over openly."
Xu Yingjie replied with a smile on his face: "Your Majesty, rest assured, I will handle this matter properly."
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