"Your Majesty, is the one million taels of silver used as collateral for imperial taxes?" Liu Bingzhong saw no one answer. After a long time, he said.
Zhu Youzhen smiled secretly in his heart. These businessmen are really better than ghosts. They know the question they have raised. The answer must be strange, so they don't speak at all. He glanced at Liu Yuzhi, a curious girl, and she was widening her eyes as expected. , Waiting for Zhu Youjian's following.
"There is no need for mortgages to escort tax money to the court, and the court will not worry about it." Zhu Youjian knows that according to the current "Daming Law", if the court's tax money is thrown away, it is a matter of robbing the family and extermination. On the way, who would dare not care? Besides, I have taught them how to avoid risks.
"Your Majesty, the Caomin is so dull, I really can't guess it." Li Yusheng was anxious. The emperor was so anxious that he always said half a word.
"Have you heard of'Jiaozi'?" Zhu Youzhen said again in the mist.
"Jiaozi?" Li Yusheng looked around at everyone and found that they were at a loss just like himself.
Finally, Wang Zhonggui asked carefully: "Your Majesty, but... But the paper money from the Northern Song Dynasty?"
Liu Xianzhi gave Wang Zhonggui a fierce look. If Zhu Youzhen were not present, she would have liked to wring Wang Zhonggui's ear out of the water, "What do you know? Your majesty..."
"Haha, Prince Wang is really right," Zhu Youzhen wondered how Liu Yuzhi couldn't make it to Wang Zhonggui. "The Jiaozi I mentioned was indeed a banknote issued during the Northern Song Dynasty."
"Does your majesty want to issue paper money?" Li Yusheng's expression remained unchanged, but the boss was puzzled.
Zhu Youjian is overjoyed, and finally has some common language with these businessmen, "Yes, I am going to issue paper money-Ming Yuan."
"But... But, doesn't Daming have treasures..." Liu Xianzhi whispered, and suddenly found her father staring at her fiercely. He hurriedly lowered his head and Shengsheng swallowed the second half of the sentence.
"Miss Liu is talking about the devaluation of the treasure?" Zhu Youjian was not angry at all. "This is indeed a regrettable thing."
Seeing that Zhu Youjian was not guilty, Liu Yuzhi simply put aside her father's warning, "Your Majesty, the silver is used well, why should it be changed to banknotes?"
"Ms. Liu doesn't know that the paper currency is issued for convenience." Of course, Zhu Youjian could not tell Liu Xianzhi the real reason. Silver is the main currency of Daming, but Daming's silver is seriously insufficient. Rich merchants like to collect it. After such a crisis, Daming’s tax is mainly in-kind tax. If it is changed to currency tax, it is a question of whether the people have so much money to pay taxes. “For example, if Miss Liu goes shopping, it’s not too much to carry a hundred taels of money with her. But a hundred taels of silver is too garish on the body, not to mention the weight, I am afraid that thieves will look at Ms. Liu."
"But, your Majesty, you can use the banknotes!" Liu Yuzhi felt that it was the first time to refute Zhu Youjian. Today, her father and Li Yusheng brought a large amount of banknotes.
"Silver tickets are good, but ordinary people have only a small amount of silver and copper coins. Is it convenient to use silver tickets? The amount of silver tickets is huge, and it seems to be just for you rich merchants?" Although Zhu Youjian thinks he has some reasons Far-fetched, but his determination to issue banknotes will never change.
With the development of industry and commerce, Daming’s tax revenue will increase sharply, and the demand for silver in the circulation sector will also rise sharply. However, Daming is unable to simultaneously increase silver production. Sooner or later, there will be a shortage of silver.
As the value of heavy metals can be preserved, the interest of the Han people in storing gold and silver has remained unchanged for thousands of years. This has worsened the shortage of silver and restricted the development of industry and commerce.
Although selling Daming goods to the West can be exchanged for part of silver, silver as currency has no value in itself. It is really a disadvantage to exchange Daming goods for these currencies with no actual value.
Silver can be divided into two categories.
One category is commodities, such as silver rings, silver earrings, silver bowls, silver cups, etc. They are valuable and can be exchanged for a certain amount of currency. This currency may be silver circulating in the market or banknotes.
Another type of silver is silver as currency. It has no value in itself. It only acts as a bridge between different commodities and sets prices for different commodities.
For example, if the Han people exchange tea for Mongolian war horses, they should first exchange tea for silver as currency, and then use the silver to exchange for Mongolian war horses. If the two parties have agreed, the silver link can be omitted, and the tea should be exchanged for war horses as currency. The silver is only a bridge and has no practical value.
However, there are too many types of commodities in the society, and it is impossible to complete the circulation through barter, so currency is needed.
As currency, silver only assists in the realization of this circulation process. It neither increases the value of commodities nor promotes social progress.
If Daming exchanges with Western goods, he should use Ming’s goods to exchange silver, and then use these silvers to exchange Western goods, technology, etc. This is equivalent exchange. On the contrary, use Ming’s goods to exchange Western silver, and then let Giving this silver to circulate in Daming's country is equivalent to returning some currency with no real value.
What if the domestic currency is exchanged for banknotes? The silver was completely unnecessary, that is, Da Ming gave the goods he had worked so hard to produce to Westerners for nothing.
For commodity producers, he exchanged silver as currency and realized the value of labor, but for the country, it was a waste of wealth.
Zhu Youjian was prepared to issue currency in advance in the era when he fully understood the lack of silver, so as to prevent Daming from being damaged in international trade. However, he could not tell Li Yusheng and the others for these reasons, and they would not understand it.
"But... But..." Liu Yuzhi dared to fight again, and didn't dare to go on.
"Ms. Liu is worried that the Ming Yuan will be the same as Baochao in the future, and will become worthless?" Zhu Youjian is still calm and graceful. Now that the problem with Baochao has been discovered, how could he make the same mistake again ? "Relax, I have solved this problem."
"This is how your Majesty solved it? Let the people know." Although Liu Yuzhi is smart, these financial problems still make her head big.
"It's very simple." Zhu Youzhen didn't need to explain these issues to Ms. Liu and others. I don't know why I am in a good mood today. Maybe the money Li Yusheng brought makes Zhu Youzhen excited. "This has to go back to the question just now. Why should the bank prepare a million taels of silver?"
"..."
"I intend to put a million taels of silver notes in the five northern provinces, the five central provinces, and the five southern provinces first for market circulation. If the people don't trust the banknotes, they can exchange them for silver with banks."
"Your Majesty, what should the bank do if it gets these banknotes?" Li Yusheng became worried. If the banknotes cannot be used in society, the bank will suffer a big loss.
"The banknotes recovered by the bank can be exchanged for silver at Daming Bank." Of course, Zhu Youjian has to prepare recharged silver. If there is no equivalent silver inventory, the paper currency will depreciate.
"Paper money enters the market... Go to the bank to exchange it... Daming Bank collects it... Your Majesty, won't the banknotes be circulated in this way?" Liu Xianzhi waited for a pair of big eyes and rubbed his temple twice with a small hand. Zhu Youjian questioned. It's too complicated.
"It's okay. At the beginning, the people may not trust Ming Yuan. The court allows those holding banknotes to enter commercial banks and exchange them for silver at any time. Commercial banks can also exchange banknotes for silver taels at Daming Bank at any time."
"Each commercial bank prepares one million silver taels, and the banknotes are only one million taels. The people can exchange all of them for silver," Li Yusheng muttered silently, "Your Majesty, Caomin understands, Your Majesty is increasing the trust of paper currency. "
"Proprietor Li is the key point," Zhu Youjian cast an admiring look at Li Yusheng, who is worthy of being an elite in the market. His brain is alive. "The imperial court issues a total of three million taels of banknotes and will prepare three hundred at Daming Bank. Ten thousand silver, ready to let various commercial banks exchange paper money at any time."
"Your Majesty, after several circulations, the people will trust banknotes." Liu Yuzhi finally understood some truths, although she was far from understanding why Zhu Youjian must issue banknotes.
"During the issuance of banknotes, if commercial banks always stand with the court, they will follow the banknotes and be fully recognized by the people. This is unmatched by the original banks. Therefore, if the bank does not participate in the issuance of banknotes, it will Gradually abandoned by the people, Miss Liu will think about it. Will the bank in the future be unable to absorb the people's deposits? Will it still be a meager profit?"
"This..." Liu Fenzhi pursed her small mouth and looked at Zhu Youjian with his big round eyes. He secretly surprised Zhu Youjian as a heavenly being, but Zhu Youjian was originally the emperor, and he was similar to the heavenly man.
"Your Majesty, although Huang Li is not in the capital, but Cao Min believes that he will definitely agree to set up a bank in Guangzhou." Although Li Yusheng is not as direct as Liu Xianzhi, his heart is also stormy. These strategies, Zhu Youjian who is not in the mall, how exactly are these strategies? Known
"Haha, that's good." Zhu Youjian is not worried that no merchants will take over the bank, but Huang Li is already engaged in the bank business, and there must be some talents who are familiar with the bank, and cooperation with the court will be more handy.
"Your Majesty, can merchants still join the bank in the future?" Liu Bingzhong also has a soft spot for banks, but his bank is still in the textile industry, but he may enter the banking system in the future.
"En... Daming encourages industry and commerce. If a business is willing to open a bank or bank, as long as it is registered and enrolled with Daming Bank, in principle, it is all right. Even if the bank turns into a bank, it also needs to be registered with Daming Bank." Zhu Youjian started the education of law. "At the same time as the throne, we accepted the approval of Daming Bank, but we will not approve the bank in the future.
"Your Majesty, Cao Min knows." Liu Bingzhong was relieved, as long as he wanted to open a bank in the future, he could join in at any time.
Zhu Youzhen was waiting to be summoned, but Li Yusheng took out a square box from his arms. The outside of the box was colorful colored paper. "Your Majesty, the grassroots bought something overseas. This thing has never been seen in Daming."