The Qianzhuang of the Ming Dynasty has a system that it thinks is perfect, but in fact there are still loopholes.
The chief told Zhu Yuanzhang that what Hanhan had given was not about the system, but that it had been written into a book for people to learn from.
"Integrate the gold and silver shops, and integrate the people who were not arrested, and it became a county-level bank."
After Zhu Yuanzhang listened, he summarized.
The head office, branches, and sub-branches that the director just mentioned are all commercial banks.
There is also the Central Bank, which is preparing for the issuance of credit currency in the future, which is much more formal than the printing of treasure banknotes in the normal history of the Ming Dynasty.
Historically, treasure banknotes were printed indiscriminately in order to plunder people's money, just like the later days of legal currency.
When fiat currency first appeared, it was actually very stable and linked to foreign exchange.
"Your Majesty is right, it is a matter of implementation by specific local hierarchical departments." The head of the district agreed.
"Our Ming Dynasty will start to use credit currency." Zhu Yuanzhang now understands some knowledge about currency, and he is looking forward to seeing how credit currency is issued.
“Your Majesty, we are just preparing to give us the ability and foundation to issue credit currency. For now, we still adopt the gold and silver bimetallic system.
If gold and silver have no purchasing power, then our Ming Dynasty’s own There is little gold and silver, and the Yi people cannot import gold and silver in the form of currency, which will hinder foreign export trade.
The outside world is now gold and silver bimetallic. Several countries such as Japan and Liuqiu, plus Goryeo, have them. We are using our copper coins.
The Japanese pirates can even see the circulation of copper coins from the Tang Dynasty, Song Dynasty and Yuan Dynasty.
It is a good thing in terms of finance, but a bad thing in terms of the country. This proves other countries' recognition of the Ming Dynasty, or China, which has little copper and important resources flowing out.
Your Majesty has always wanted to issue treasure banknotes. It is precisely because of this that I proposed to your Majesty to issue treasure banknotes. The Minister of Banknote also considered this."
The head of the village shook his head and denied that it would be no problem for the country to issue credit currency immediately, but it would be difficult to deal with the outside world. He had to let other countries have currency to buy things.
Zhu Yuanzhang pondered for a moment, "Is there a lot of gold and silver outside?"
"A lot" Li Chang nodded, "With the increase in Ming Dynasty's commodity exports and the gradual convenience of sea and land transportation, It will prompt the Yi people to increase their mining volume and improve their mining technology. By then, there may be a situation where the cost of gold and silver mining for the Yi people will decrease, especially silver, and naturally copper.
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Then their cost of purchasing Ming products will naturally drop, then there will be a problem."
The voice of the leader became louder and he told the ministers to listen together.
The external demand for Ming products led to the large-scale planting, breeding, and mining of materials and currencies needed by Ming Dynasty.
The various countries and tribes where the Yi people are located passively research new technologies to obtain more Ming products.
If the outside world does not accept the Ming Dynasty's treasure banknotes, and the technology of planting and breeding has improved a lot, then after exporting to the Ming Dynasty, the Ming Dynasty will not be able to have enough goods, and the Yi people will exchange gold and silver and take them away.
In order to solve this problem, the most direct way for Ming Dynasty was to ban the export of gold and silver and focus on smuggling. This was a method when there was no other way.
A better way is to also improve the technology of various industries in Ming Dynasty and increase the added value of export commodities.
Then gold and silver will still flow in. No matter how much gold and silver the Yi people mine in the future, it will not be as much as the benefits of high value-added commodities.
At the same time, the output of gold and silver has never been able to keep up with the improvement of technology. Only by not giving up the gold and silver bimetallism can we gain the recognition of the foreigners.
Then in the future, the gold and silver will be placed in the central bank and no exchange is allowed. As national reserves, they will not be able to flow out even if they want to.
At that time, the Yi people can sell their gold and silver in exchange for Ming Dynasty treasure notes to buy Ming Dynasty products, instead of using gold and silver directly as currency.
Whether gold and silver are currencies? It depends on the amount of gold and silver reserves in the world. Unlike farming, where one plant is planted one after another, mining has its limit.
The gold mines will be dug out one after another, and the same will be true for the silver mines, and the land will be hollowed out every year.
Therefore, tea and silk are indeed good things for normal export, so they should be used by the people of the Ming Dynasty as much as possible instead of being sold to the barbarians at low prices.
As long as the stock of gold and silver is small, it will inevitably be used as currency by outside countries, especially gold. It can not only be stored for a long time, but is also an important material for making jewelry.
Saving too much is the confidence of the Ming Dynasty. Based on this, it issues treasure banknotes to the outside world. Free exchange is allowed in the early stage. When other countries get used to the treasure banknotes and have a lot of them, the exchange will be prohibited.
They can only use treasure money to buy Ming products, and they will also use treasure money to buy and sell goods with each other.
Then the treasure banknotes of the Ming Dynasty will become the world currency, and it will be easy to handle in the future. As long as the military strength is strong enough and the technology is good enough, the people of the Ming Dynasty will be able to eat cheap meals and use cheap utensils.
We will talk about this later, it has not reached that level yet.
Zhu Yuanzhang and the ministers studied together, and they became more and more addicted to it when it came to major national events.
"Yi Chang, according to your statement, if the Ming Dynasty does not issue credit currency, will the Ming Dynasty have enough money?"
Zhu Yuanzhang was thinking about the gold and silver he had obtained, and was worried about insufficient circulation.
Beiyuan was beaten away. Ming Dynasty was internally stable and had strong military power. It could appropriately liberalize exchanges with various places, especially the migration of migrant workers.
Coupled with more grain, livestock, and poultry, the price of salt has also been lowered, seafood has increased, the people are rich, and things are bought and sold frequently.
The treasure banknotes will inevitably start to accumulate. The merchants have more and more money, and there is still enough money outside.
The chief inside looked at the untouched breakfast: "Your Majesty, you can issue credit currency. But if you don’t tell the people, they won’t knowhave to.
As long as the amount of gold and silver used as collateral reaches a certain proportion, it can be exchanged by the people.
In fact, as long as the Ming Dynasty has a stable military and can deal with natural disasters without man-made disasters, people will not want to exchange gold and silver.
Afterwards, a 10% handling fee will be deducted for exchanging the treasure banknotes. The collateral of this central bank is equivalent to the reserve fund of the bank after it is opened.
Twenty percent is stable. Under normal circumstances, you cannot withdraw that amount unless there are too many bad debts.
The reason why some people keep gold and silver shops is to prepare for loans, including dental shops and pawn shops.
They know the value of the loan collateral, including fields, real estate, jewelry and other things.
In addition, people in Yaga are familiar with the situation and know what kind of people have high credit. This is a credit loan.
Therefore, the supervision mechanism must be perfected, cross-checked by multiple people, and only with the final signature can the money be released, and any problems should be dealt with.
Your Majesty, why don't you finish your meal? It will be too cold for us to continue talking. "
The head of the village finally advised everyone to eat quickly. If you don't eat now, you will have to eat at noon later.
"Ah" Zhu Yuanzhang suddenly realized, what about eating
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"Eat up, gentlemen, let's eat pie, dipped in dogwood sauce and minced garlic. ”
Zhu Yuanzhang wanted to dip it in soy sauce when letting others eat it. Xiaqiu Village never put a lot of salt in stuffed things.
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