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"Paper money is indeed very good, but there is a problem. How do you want the people to accept paper money?”Ying Zheng asked.
Gold coins and copper coins had been used for a long time. If people were to use a piece of paper as money, it would be difficult for them to accept it.
"This problem requires the country to forcefully make paper money the legal currency of the Qin country. Currently, the legal currency of the Qin country is gold coins and copper coins. If you want people to recognize paper money, you must first have the country recognize this paper money.”
"The State of Qin wants to issue a law on paper money to ensure the legitimacy of paper money.”
Immediately, Meng Yu explained to the King of Qin, Ying Zheng, the specific contents of the Paper Money Law, including the fact that paper money was allowed to be used as currency for transactions, and that it was illegal to destroy paper money without permission.
Hearing Meng Yu's explanation, Ying Zheng was secretly surprised. He did not expect that Meng Yu, at such a young age, would be able to explain the law so clearly and in detail.
Ying Zheng truly admired Meng Yu's talent. Although Meng Yu was very young, he held a very high position in Ying Zheng's heart.
"Alright, we will do as you say. When the time comes, I will issue a paper money decree and vigorously promote paper money throughout the country.”
Ying Zheng trusted Meng Yu very much, so he agreed to Meng Yu's suggestion without thinking too much.
"Thank you, Your Majesty!" Meng Yu said.
"How do you want to issue banknotes?" Ying Zheng asked.
"I need an organization to issue paper money, so I plan to establish a Great Qin Bank.”
"Great Qin Bank?" Ying Zheng asked in surprise.
"In Great Qin, money exchange is a problem. There is no place for people to exchange their copper coins for gold, and there is no place for people to exchange their gold coins for copper coins. The Great Qin Bank is a currency exchange organization, and people can use their gold and copper coins to exchange for paper money, and they can also exchange paper money for gold and copper coins. Gold coins and copper coins could also be exchanged.”Meng Yu said.
"Fuma, your idea of building the Great Qin Bank is too brilliant.”
Hearing Meng Yu's words, Ying Zheng could not help but exclaim in admiration, praising Meng Yu's idea.
"After issuing paper money, we can return gold coins and copper coins to the national treasury. This will greatly increase the reserves of gold and copper coins in the national treasury, and the income of the national treasury will also increase greatly.”Meng Yu said.
"Alright, do as you say. I will fully support you.”Ying Zheng nodded.
"With Your Majesty's words, this subject can rest assured.”Meng Yu said.
"How long will it take for you to build the Great Qin Bank?”Ying Zheng asked.
"Building a bank is different from building a paper factory. It requires a lot of preparation work and may take half a year.”Meng Yu replied.
"Fuma, I'll have to trouble you then."
"There is no need to talk about hard work when working for the king.”
Then, Meng Yu left the palace.
With Ying Zheng's approval, Meng Yu had obtained the permission to open a bank and print paper money.
From now on, Meng Yu could print money openly.
However, whether paper money could be recognized by people was a problem. After all, it was not easy to make people equate a piece of paper with genuine gold.
After returning to the Fuma Residence, he began to do this for the next few days.
Meng Yu first designed the types of banknotes. In the end, he designed eight types of banknotes: 100 wen, 500 wen, 1 tael, 5 taels, 10 taels, 20 taels, 50 taels, and 100 taels. He also made templates for each of them.
100 copper coins represented 100 copper coins, and 1 tael represented 1 tael of gold.
After making the template of the banknotes, Meng Yu found a very hidden place not far from the Fuma's residence.
Paper money was related to money and would make many people jealous. Therefore, the fewer people who knew about the place where paper money was made, the better.
After that, Meng Yu found dozens of trusted family guards in the Meng residence. These people had stayed in the Meng residence for many years and were absolutely loyal to the Meng family.
These people would be responsible for the printing of banknotes. Meng Yu gathered them together, then trained them and taught them the method of printing banknotes.
After a period of teaching, they finally mastered the method of printing paper money.
Then, these people began to print money.
At this place, Meng Yu had sent many soldiers to guard it. The people who printed the banknotes were not allowed to leave this place, and others were not allowed to take a step closer to this place. This ensured that the printing of banknotes was absolutely confidential.
There were a total of eight types of banknotes, and only a few dozen people were involved in printing them. As such, even if these people continued to print, the printing speed would be very slow. It would take a long time to meet Great Qin's demand for banknotes.
The printing work was in progress, and Meng Yu began to look for the address of the bank.
In the end, he found a suitable location and demolished the original building. He wanted to rebuild it here.
He wanted to design the Great Qin Bank himself. He wanted to build an underground vault under the Great Qin Bank to store gold and copper coins.
Then, he recruited a large number of craftsmen and began to build an underground vault under his guidance.
Of course, it was not an easy task to build a large underground vault. It required a lot of manpower and financial resources, and it also took a lot of time.
However, these were not a problem. He could build it slowly.
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