Zhu Yuanzhang: I Forbid The Sea, But The Sun Never Sets On The Sea

Chapter 76 Currency Reform (Subscribe)

“Royal father, several adults, do you know what coins are?”

After pondering for a while, Zhu Bo spoke.

Although he was shocked by the keenness of these people and their familiarity with the economy, this was originally one of the main purposes of his return to Beijing this time, and naturally it was impossible to hide it.

“What are coins?

Listening to Zhu Bo’s words, Lu Chang and Xia Yuanji fell into contemplation, while Lao Zhu was a little dazed.

“His Royal Highness, I think coins are used to measure the value of objects! 35

After pondering for a while, Xia Yuanji spoke first.

“Yes, coins are indeed the existence of measuring the value of objects. The coins in the Spring and Autumn Period and the Warring States Period evolved from shovel-shaped tool money. There are silver ones, and most of them are bronze, so from Daqin to today, almost all coins are copper coins. It was not until the Jiaozi produced in the Northern Song Dynasty, there was Jiaozi, the treasured banknotes that reached today’s Ming Dynasty, and the birth of paper money.

“But a few adults, is the treasure money really worth that much money?”

When he spoke, Zhu Bo opened his mouth with a wry smile.

It must be said that the ancient Chinese currency system was extremely developed, and paper money was born in the Song Dynasty.

But the key is that the steps are too big, and the metal currency has not been perfected and jumped directly to the paper money step, which is a ghost if there is no problem.

In fact, whether it is the Great Song Dynasty, the Mongolian Yuan Dynasty, or the current Ming Dynasty.

Treasure banknotes are actually depreciating continuously, and even toilet paper is not as good as the back.

“What do you mean, Your Highness?”

Several people’s faces were a little embarrassed, but Xia Yuanji didn’t take this into consideration, but directly asked 22.

“Paper money circulates instead of metal currency, and is a currency symbol issued by the state and used compulsorily. Compared with metal currency, paper money has a lower production cost, is easier to keep, carry and transport, and avoids the wear and tear of coins in circulation.”5

“The key is to have basic metal currency to have the basis of paper money.

“Father, two adults.”

“I think if the gold and silver issues are to be changed, I think what Daming needs to do now is to re-mint coins.”

The words opened, and the content of the words made Xia Yuanji’s eyes brighter at this time. For him, at this moment, it was like opening a new world, and the whole person could not help but be excited.

And when Zhu Bo said the last words, it was just that Xia Yuanji’s mind was completely opened up at this moment.

“I understand, what Your Highness means is to mint gold and silver coins and participate in circulation?”

The words opened, it was Natsuhara Yoshi’s words.

“Yes, mint gold and silver currency, participate in market circulation, and temporarily replace paper money!”

The words are affirmative, and Zhu Bo is serious.

Maybe paper money is a trend, a more advanced existence, but that’s not now.

What today’s Ming needs is not paper money.

A large number of banknotes, coupled with the continuous devaluation, have instead impacted the credit of the entire Daming.

At the beginning of the establishment of the Ming Dynasty, high hopes were placed on banknotes. I hope to increase the country’s income by issuing banknotes, so there is this “Daming Treasure Banknote.”

It also stipulates the ratio of Daming treasure banknotes to some intermediaries: each banknote is equivalent to one thousand pennies, which is equal to one tael of silver; and four-way banknotes are equivalent to one tael of gold. In this way, Daming Treasure Banknotes are linked to other currencies.

In the actual circulation process, Zhu Yuanzhang prohibited the circulation of gold and silver, and even banknotes must be used according to the amount of the transaction.

At that time, it was stipulated that all transactions of more than one hundred cents must use paper money, and for transactions of less than one hundred cents, copper coins could be used. Gold and silver were completely banned.

From this, it can be seen that the issuance of banknotes in the Ming Dynasty was completely enforced by the power of the state.

But reality is often skinny. According to the records of Ming Dynasty, in the twenty-seventh year of Hongwu, every treasure banknote was exchanged for 1,000 yuan to now only 160 yuan, and the depreciation rate was as high as six times. many.

Although it is only twenty-five years of Hongwu, the price of Kebao has more than quadrupled.

In just one year in 1390, Lao Zhu rewarded 95 million copper coins in the amount of treasure notes, while the government’s revenue during the same period was only about 21 million. This calculation is equivalent to the issuance of 74 million new banknotes a year, which is bound to exacerbate inflation in the market.

This is simply putting Daming’s credit on the ground.

It also caused the entire Daming economy to almost collapse.

To solve this problem, the current treasure banknotes must be abolished.

If this goes on, there will be 100% problems.

And if gold and silver currency is to replace the existence of treasure banknotes, then the problem of treasure banknotes is enough to be solved.

It can even make the now chaotic Daming currency system perfect again.

“Your Majesty!

Xia Yuanji looked overjoyed, and at this moment, a look of excitement appeared on his face.

But just in his excitement, Zhu Bo spoke again.

“Father, gold and silver currency can indeed replace paper money, but one thing, father must pay attention, the currency issued every year should not be more than one-tenth of the national treasury revenue, otherwise the money in the hands of the people will become less and less. .””

Zhu Bo’s words were serious.

With his father’s temperament, he had to get a vaccination.

Now gold and silver, the problem is not big.

But after a long time, when the time comes, my father is just playing around like Baochao.

Gold and silver can also destroy Daming.

“Not more than a tenth of the treasury?”

“We got it! 9

Lao Zhu was a little embarrassed, Zhu Bo’s words, he understood, and his face couldn’t help but turn a little red.

“How about this!”

“Twelve, you will be responsible for the next new currency minting.”

“The Ministry of Households and the Ministry of Labor will have the right to cooperate with you.”

“Be sure to get it out within a month!”

The words speak quickly.

“Yes, Father! 99

Zhu Bo nodded, but he didn’t reject it.

When Zhu Bo responded, Lao Zhu quickly dismissed several people away.

“This stinky boy dared to bury his father.”

Lao Zhu opened his mouth with laughter and scolding.

On the other side, Zhu Bo and the others walked down.

“His Royal Highness, the Ministry of Household has something to do, so I will stay soon. Xia Yuanji is in charge of currency matters. If you need anything, you can come to the Ministry of Household at any time!”

Lu Chang took a deep look at Zhu Bo, and then opened his mouth to Zhu Bo.

“Master Lu, you can just be busy!

Zhu Bo nodded, then suddenly reacted, looking at Xia Yuanji in front of him strangely.

“Your Highness, do I have flowers on my face?”

Being stared at by Zhu Bo, Xia Yuanji felt a little uncomfortable, touched his face subconsciously, and then opened his mouth with doubts.

“Nothing, I didn’t expect you to be Xia Yuanji?”

With some surprises, but also with a strange opening.

“Your Highness, this subject is Xia Yuanji!

Xia Yuanji was even more at a loss.

“Let’s go!”

“Let’s go to the Ministry of Industry first!”

Zhu Bo smiled and did not explain, then walked towards the Ministry of Engineering.

Xia Yuanji followed with a puzzled face.

The two quickly went to the Ministry of Industry.

Then began the mighty work.

Zhu Bo didn’t expect that before his big wedding, he was caught by his father as a coolie.

But for money making, he is not against it.

After all, it can be regarded as a good foundation for his currency issuance in the future.

The figure entered the Ministry of Industry.

Soon the preparatory work will be completed.

And from the second day, he started to act.

A large number of craftsmen were summoned by him.

The mighty currency began to be minted.

The most important thing about currency is the passage of one, there is no problem with this, because it is a precious metal, and the second is anti-counterfeiting.

It’s not good that 783 is here, the anti-counterfeiting of later generations is extremely perfect, and Zhu Bo can directly come up with some plans for later generations.

Of course, there is another point, that is, the value of the currency itself is better than the value of the metal.

Otherwise, problems can easily occur.

Bad money drives out good money This is the law of the capital market.

The so-called bad money drives out the good money, and when two currencies with different actual values ​​are circulated at the same time but the legal parity remains unchanged, the currency or silver (good money) with high actual value must be melted, collected or exported and withdrawn from the circulation field, while the actual value Low currency (bad currency) instead floods the market.

Currency issuance This must be noted.

In this regard, Zhu Bo also had to be cautious.

Even if this is just for Daming first.

But he also thought about it.

But before he could think about it for too long, a household official gave him a solution.

“His Royal Highness, gold and silver coins can be minted in the same way as copper coins!

The Ministry of Household official spoke cautiously.

He was full of curiosity about the person in front of him, but he didn’t dare to ask more.

“How to cast copper coins?”

Zhu Bo was stunned for a moment, a little puzzled.

“Yes, Your Highness, copper coins are usually mixed with some copper, tin, and lead, and gold and silver coins are also acceptable.

The household official spoke in a low voice.

And his words made Zhu Bo’s eyes widen.

Only at this time did he know that the casting of alloys had already begun in ancient China, and the so-called copper coins were not completely copper, but alloys.

In ancient times, no one really understood what it means to drive out good coins with bad coins, but if it is all copper casting, the flow of the money mold is poor, and the flow of tin and lead alloys is better.

In this case, the Chinese and Xia Dynasty gradually mastered this kind of law.

After countless practice, the current complete rules of copper coins have been obtained.

(Third update).