"Father, do you know what money is?”
After muttering to himself for a moment, Zhu Bai spoke.
Although he was shocked by the sensitivity of these people and their familiarity with the economy, this was one of the main purposes of his return to the capital this time. Naturally, he could not hide it.
"What is money?"
Hearing Zhu Bai's words, Lu Chang and Xia Yuanji fell into deep thought, while Old Zhu was at a loss.
"Your Highness, I believe that coins are used to measure the value of items!”
After pondering for a moment, Xia Yuanji spoke first.
"That's right. Coins are indeed a measure of the value of objects. Coins from the Spring and Autumn Warring States Period evolved from shovel-shaped tool money. There were silver coins, and most of them were bronze coins. Therefore, from the Great Qin Dynasty until now, almost all coins were copper coins. It was only until the Northern Song Dynasty that Jiaozi coins were produced, and then Jiaozi coins were produced, and finally until the Ming Dynasty's Baoqian coins were produced.”
"But sirs, are the notes really worth that much money?”
Zhu Bai said with a bitter smile.
It had to be said that the currency system in ancient China was extremely developed. In the Song Dynasty, paper money was born.
However, the key was that the step was too big. The metal currency had not been perfected and had directly jumped to the paper money step. It would be strange if there were no problems.
In fact, whether it was Great Song, Mengyuan, or the current Great Ming.
Treasure notes were actually constantly depreciating. In the end, they were even worse than toilet paper.
"Your Highness, what do you mean?"
The few of them looked a little awkward, but Xia Yuanji didn't care about this and asked directly.
"Paper money is used to replace metal currency. It is a currency symbol issued by the state and forced to be used. Compared with metal currency, the production cost of banknotes was lower, and it was easier to store, carry, and transport, avoiding the wear and tear of coins in circulation.”
"The key is that we need basic metal currency to have the foundation of paper money.”
"Imperial Father, two sirs."
"I think if we want to change the gold and silver problem, I think what Great Ming needs to do now is to re-coin coins.”
Xia Yuanji's eyes lit up with excitement as he spoke. It was as if a whole new world had opened up for him.
When Zhu Bai said his final words, Xia Yuanji's mind was completely cleared up.
"I understand. Your Highness, you mean to cast gold and silver coins and allow them to circulate?”
Xia Yuanji spoke.
"Yes, we will forge gold and silver coins to circulate in the market and temporarily replace paper money!”
Zhu Bai's words were firm and serious.
Perhaps paper money was the trend and a more advanced existence, but that was not the present.
What Da Ming needed now was not paper money.
A large number of banknotes, coupled with the constant depreciations, had instead caused the entire Great Ming's credit to suffer a blow.
At the beginning of the Ming Dynasty, they placed their hopes on banknotes. They hoped to increase the country's income by issuing banknotes, so they had this "Ming Bao banknote."
It also stipulated the ratio of the Great Ming Treasure Notes to some intermediary items: Each set of banknotes was equivalent to one thousand wen, which was equivalent to one tael of silver. Four strings of notes were equivalent to one tael of gold. In this way, the Great Ming Treasure Notes were linked to other currencies.
In the actual circulation process, Zhu Yuanzhang banned the circulation of gold and silver, and even stipulated that paper money must be used according to the transaction volume.
At that time, it was stipulated that all transactions above 100 wen must use paper money, and for transactions below 100 wen, copper coins could be used. Gold and silver were completely banned.
From this, it could be seen that the Ming Dynasty's issuing of paper money was completely enforced by the power of the state.
However, reality was often harsh. According to the Ming Shi Lu, in the 27th year of Hongwu, each string of notes was only worth 160 wen, which was six times the value of the notes.
Although it was only the 25th year of Hongwu, the value of the banknotes had dropped by more than four times.
In the year 1390 alone, Old Zhu had rewarded 95 million copper coins in notes, while the government's income was only about 21 million copper coins. This was equivalent to 74 million yuan of new banknotes being issued in a year, which would inevitably increase the market's rate of inflation.
This was simply trampling on Big Ming's credit.
It also caused the entire Great Ming's economy to almost collapse.
To solve this problem, the current banknotes must be abolished.
If this continued, there would definitely be problems.
If gold and silver replaced the existence of banknotes, then the problem of banknotes would be solved.
It could even make the current chaotic currency system of the Great Ming Dynasty perfect again.
"Your Highness is a genius!"
Xia Yuanji was overjoyed. At this moment, his face could not help but reveal an excited expression.
But just as he was getting excited, Zhu Bai spoke again.
"Imperial Father, gold and silver coins can indeed replace paper money. However, Imperial Father has to pay attention to one thing. The amount of money issued each year cannot be more than one-tenth of the national treasury's income. Otherwise, the money in the hands of the people will continue to decrease.”
Zhu Bai's words were serious.
He had to be prepared for his father's personality.
Now, gold and silver were not a problem.
However, as time passed, his father would be playing around like a treasure.
Gold and silver could also destroy Big Ming.
"Not more than one-tenth of the national treasury?”
"I know!"
Old Zhu was a little embarrassed. He finally understood what Zhu Bai was saying, and his face couldn't help but blush.
"How about this!"
"Twelve, you will be in charge of the new currency.”
"The Ministry of Revenue and the Ministry of Works will cooperate with you.”
"You must get it out within a month!”
He quickly said.
"Yes, Imperial Father!"
Zhu Bai nodded. He did not reject this.
After Zhu Bai responded, Old Zhu hurriedly sent the few of them away.
"This brat actually dares to mock his own father.”
Old Zhu said with a smile.
On the other side, Zhu Bai and the others walked down.
"Your Highness, I still have some matters to attend to at the Ministry of Revenue, so I won't be staying for long. Xia Yuanji will be in charge of the currency. If you need anything, you can come to the Ministry of Revenue at any time!”
Lu Chang took a deep look at Zhu Bai before speaking to him.
"Lord Lu, you can do whatever you want!"
Zhu Bai nodded, then suddenly reacted and looked at Xia Yuanji with a strange gaze.
"Your Highness, is there a flower on my face?”
Being stared at by Zhu Bai made Xia Yuanji feel a little uncomfortable. He subconsciously touched his face and asked in confusion,
"Nothing. I didn't expect you to be Xia Yuanji.”
he said with a hint of surprise and strangeness.
"Your Highness, I am Xia Yuanji!”
Xia Yuanji was even more confused.
"Let's go!"
"Let's go to the Ministry of Works first!"
Zhu Bai smiled and did not explain. He then walked towards the Ministry of Works.
Xia Yuanji followed with a puzzled expression.
The two of them quickly headed to the Ministry of Works.
Then, he began his work.
Zhu Bai had also not expected that before his wedding, he would actually be captured by his own father as a laborer.
However, he was not against the creation of money.
After all, it was also to lay a good foundation for his future currency distribution.
The figure walked into the Ministry of Works.
Soon, the preparations were completed.
From the second day onwards, he began to take action.
He gathered a large number of craftsmen.
They began to forge coins.
There were two most important aspects to a currency. One was that it was passable, which was not a problem because it was a precious metal. The second was that it was anti-counterfeit.
The bad thing was that the anti-counterfeit methods of the later generations were extremely perfect. Zhu Bai could just directly take out some of the methods of the later generations.
Of course, there was another point, which was that the value of the currency itself should be lower than the value of the metal.
Otherwise, it would be very easy for problems to occur.
Bad money drove out good money. This was the law of the capital market.
The so-called bad money drove out good money. When two currencies with different actual values but constant legal exchange rates circulated at the same time, the currency or silver (good money) with a high actual value would inevitably be melted, collected, or output out of circulation, while the currency with a low actual value (bad money) would flood the market.
He had to pay attention to the currency issue.
Towards this, Zhu Bai had no choice but to be cautious.
Even if this was just for the sake of the Great.
However, he had also considered it carefully.
However, before he could think for too long, an official from the Ministry of Revenue gave him a solution.
"Your Highness, gold and silver coins can be cast using the same method as copper coins!”
the official said carefully.
He was filled with curiosity about the person in front of him, but he did not dare to ask.
"The method to forge copper coins?"
Zhu Bai was stunned for a moment, somewhat puzzled.
"Yes, Your Highness. When copper coins are cast, they are usually mixed with copper, tin, and lead. Gold and silver coins can also be used.”
the official from the Ministry of Revenue said softly.
And his words also caused Zhu Bai's eyes to involuntarily widen.
It was only then that he realized that ancient China had already started casting alloys. The so-called copper coins were not completely made of copper, but of alloy.
In ancient times, no one knew what it meant to drive out good money with bad money. However, if it was cast with pure copper, the flow of the money mold would be poor, and tin and lead alloy casting would have better flow.
Under such circumstances, the Chinese dynasties gradually grasped this rule.
After countless experiments, he had come up with the complete pattern of copper coins.
- "Father, do you know what money is?”
After muttering to himself for a moment, Zhu Bai spoke.
Although he was shocked by the sensitivity of these people and their familiarity with the economy, this was one of the main purposes of his return to the capital this time. Naturally, he could not hide it.
"What is money?"
Hearing Zhu Bai's words, Lu Chang and Xia Yuanji fell into deep thought, while Old Zhu was at a loss.
"Your Highness, I believe that coins are used to measure the value of items!”
After pondering for a moment, Xia Yuanji spoke first.
"That's right. Coins are indeed a measure of the value of objects. Coins from the Spring and Autumn Warring States Period evolved from shovel-shaped tool money. There were silver coins, and most of them were bronze coins. Therefore, from the Great Qin Dynasty until now, almost all coins were copper coins. It was only until the Northern Song Dynasty that Jiaozi coins were produced, and then Jiaozi coins were produced, and finally until the Ming Dynasty's Baoqian coins were produced.”
"But sirs, are the notes really worth that much money?”
Zhu Bai said with a bitter smile.
It had to be said that the currency system in ancient China was extremely developed. In the Song Dynasty, paper money was born.
However, the key was that the step was too big. The metal currency had not been perfected and had directly jumped to the paper money step. It would be strange if there were no problems.
In fact, whether it was Great Song, Mengyuan, or the current Great Ming.
Treasure notes were actually constantly depreciating. In the end, they were even worse than toilet paper.
"Your Highness, what do you mean?"
The few of them looked a little awkward, but Xia Yuanji didn't care about this and asked directly.
"Paper money is used to replace metal currency. It is a currency symbol issued by the state and forced to be used. Compared with metal currency, the production cost of banknotes was lower, and it was easier to store, carry, and transport, avoiding the wear and tear of coins in circulation.”
"The key is that we need basic metal currency to have the foundation of paper money.”
"Imperial Father, two sirs."
"I think if we want to change the gold and silver problem, I think what Great Ming needs to do now is to re-coin coins.”
Xia Yuanji's eyes lit up with excitement as he spoke. It was as if a whole new world had opened up for him.
When Zhu Bai said his final words, Xia Yuanji's mind was completely cleared up.
"I understand. Your Highness, you mean to cast gold and silver coins and allow them to circulate?”
Xia Yuanji spoke.
"Yes, we will forge gold and silver coins to circulate in the market and temporarily replace paper money!”
Zhu Bai's words were firm and serious.
Perhaps paper money was the trend and a more advanced existence, but that was not the present.
What Da Ming needed now was not paper money.
A large number of banknotes, coupled with the constant depreciations, had instead caused the entire Great Ming's credit to suffer a blow.
At the beginning of the Ming Dynasty, they placed their hopes on banknotes. They hoped to increase the country's income by issuing banknotes, so they had this "Ming Bao banknote."
It also stipulated the ratio of the Great Ming Treasure Notes to some intermediary items: Each set of banknotes was equivalent to one thousand wen, which was equivalent to one tael of silver. Four strings of notes were equivalent to one tael of gold. In this way, the Great Ming Treasure Notes were linked to other currencies.
In the actual circulation process, Zhu Yuanzhang banned the circulation of gold and silver, and even stipulated that paper money must be used according to the transaction volume.
At that time, it was stipulated that all transactions above 100 wen must use paper money, and for transactions below 100 wen, copper coins could be used. Gold and silver were completely banned.
From this, it could be seen that the Ming Dynasty's issuing of paper money was completely enforced by the power of the state.
However, reality was often harsh. According to the Ming Shi Lu, in the 27th year of Hongwu, each string of notes was only worth 160 wen, which was six times the value of the notes.
Although it was only the 25th year of Hongwu, the value of the banknotes had dropped by more than four times.
In the year 1390 alone, Old Zhu had rewarded 95 million copper coins in notes, while the government's income was only about 21 million copper coins. This was equivalent to 74 million yuan of new banknotes being issued in a year, which would inevitably increase the market's rate of inflation.
This was simply trampling on Big Ming's credit.
It also caused the entire Great Ming's economy to almost collapse.
To solve this problem, the current banknotes must be abolished.
If this continued, there would definitely be problems.
If gold and silver replaced the existence of banknotes, then the problem of banknotes would be solved.
It could even make the current chaotic currency system of the Great Ming Dynasty perfect again.
"Your Highness is a genius!"
Xia Yuanji was overjoyed. At this moment, his face could not help but reveal an excited expression.
But just as he was getting excited, Zhu Bai spoke again.
"Imperial Father, gold and silver coins can indeed replace paper money. However, Imperial Father has to pay attention to one thing. The amount of money issued each year cannot be more than one-tenth of the national treasury's income. Otherwise, the money in the hands of the people will continue to decrease.”
Zhu Bai's words were serious.
He had to be prepared for his father's personality.
Now, gold and silver were not a problem.
However, as time passed, his father would be playing around like a treasure.
Gold and silver could also destroy Big Ming.
"Not more than one-tenth of the national treasury?”
"I know!"
Old Zhu was a little embarrassed. He finally understood what Zhu Bai was saying, and his face couldn't help but blush.
"How about this!"
"Twelve, you will be in charge of the new currency.”
"The Ministry of Revenue and the Ministry of Works will cooperate with you.”
"You must get it out within a month!”
He quickly said.
"Yes, Imperial Father!"
Zhu Bai nodded. He did not reject this.
After Zhu Bai responded, Old Zhu hurriedly sent the few of them away.
"This brat actually dares to mock his own father.”
Old Zhu said with a smile.
On the other side, Zhu Bai and the others walked down.
"Your Highness, I still have some matters to attend to at the Ministry of Revenue, so I won't be staying for long. Xia Yuanji will be in charge of the currency. If you need anything, you can come to the Ministry of Revenue at any time!”
Lu Chang took a deep look at Zhu Bai before speaking to him.
"Lord Lu, you can do whatever you want!"
Zhu Bai nodded, then suddenly reacted and looked at Xia Yuanji with a strange gaze.
"Your Highness, is there a flower on my face?”
Being stared at by Zhu Bai made Xia Yuanji feel a little uncomfortable. He subconsciously touched his face and asked in confusion,
"Nothing. I didn't expect you to be Xia Yuanji.”
he said with a hint of surprise and strangeness.
"Your Highness, I am Xia Yuanji!”
Xia Yuanji was even more confused.
"Let's go!"
"Let's go to the Ministry of Works first!"
Zhu Bai smiled and did not explain. He then walked towards the Ministry of Works.
Xia Yuanji followed with a puzzled expression.
The two of them quickly headed to the Ministry of Works.
Then, he began his work.
Zhu Bai had also not expected that before his wedding, he would actually be captured by his own father as a laborer.
However, he was not against the creation of money.
After all, it was also to lay a good foundation for his future currency distribution.
The figure walked into the Ministry of Works.
Soon, the preparations were completed.
From the second day onwards, he began to take action.
He gathered a large number of craftsmen.
They began to forge coins.
There were two most important aspects to a currency. One was that it was passable, which was not a problem because it was a precious metal. The second was that it was anti-counterfeit.
The bad thing was that the anti-counterfeit methods of the later generations were extremely perfect. Zhu Bai could just directly take out some of the methods of the later generations.
Of course, there was another point, which was that the value of the currency itself should be lower than the value of the metal.
Otherwise, it would be very easy for problems to occur.
Bad money drove out good money. This was the law of the capital market.
The so-called bad money drove out good money. When two currencies with different actual values but constant legal exchange rates circulated at the same time, the currency or silver (good money) with a high actual value would inevitably be melted, collected, or output out of circulation, while the currency with a low actual value (bad money) would flood the market.
He had to pay attention to the currency issue.
Towards this, Zhu Bai had no choice but to be cautious.
Even if this was just for the sake of the Great.
However, he had also considered it carefully.
However, before he could think for too long, an official from the Ministry of Revenue gave him a solution.
"Your Highness, gold and silver coins can be cast using the same method as copper coins!”
the official said carefully.
He was filled with curiosity about the person in front of him, but he did not dare to ask.
"The method to forge copper coins?"
Zhu Bai was stunned for a moment, somewhat puzzled.
"Yes, Your Highness. When copper coins are cast, they are usually mixed with copper, tin, and lead. Gold and silver coins can also be used.”
the official from the Ministry of Revenue said softly.
And his words also caused Zhu Bai's eyes to involuntarily widen.
It was only then that he realized that ancient China had already started casting alloys. The so-called copper coins were not completely made of copper, but of alloy.
In ancient times, no one knew what it meant to drive out good money with bad money. However, if it was cast with pure copper, the flow of the money mold would be poor, and tin and lead alloy casting would have better flow.
Under such circumstances, the Chinese dynasties gradually grasped this rule.
After countless experiments, he had come up with the complete pattern of copper coins.
- "Father, do you know what money is?”
After muttering to himself for a moment, Zhu Bai spoke.
Although he was shocked by the sensitivity of these people and their familiarity with the economy, this was one of the main purposes of his return to the capital this time. Naturally, he could not hide it.
"What is money?"
Hearing Zhu Bai's words, Lu Chang and Xia Yuanji fell into deep thought, while Old Zhu was at a loss.
"Your Highness, I believe that coins are used to measure the value of items!”
After pondering for a moment, Xia Yuanji spoke first.
"That's right. Coins are indeed a measure of the value of objects. Coins from the Spring and Autumn Warring States Period evolved from shovel-shaped tool money. There were silver coins, and most of them were bronze coins. Therefore, from the Great Qin Dynasty until now, almost all coins were copper coins. It was only until the Northern Song Dynasty that Jiaozi coins were produced, and then Jiaozi coins were produced, and finally until the Ming Dynasty's Baoqian coins were produced.”
"But sirs, are the notes really worth that much money?”
Zhu Bai said with a bitter smile.
It had to be said that the currency system in ancient China was extremely developed. In the Song Dynasty, paper money was born.
However, the key was that the step was too big. The metal currency had not been perfected and had directly jumped to the paper money step. It would be strange if there were no problems.
In fact, whether it was Great Song, Mengyuan, or the current Great Ming.
Treasure notes were actually constantly depreciating. In the end, they were even worse than toilet paper.
"Your Highness, what do you mean?"
The few of them looked a little awkward, but Xia Yuanji didn't care about this and asked directly.
"Paper money is used to replace metal currency. It is a currency symbol issued by the state and forced to be used. Compared with metal currency, the production cost of banknotes was lower, and it was easier to store, carry, and transport, avoiding the wear and tear of coins in circulation.”
"The key is that we need basic metal currency to have the foundation of paper money.”
"Imperial Father, two sirs."
"I think if we want to change the gold and silver problem, I think what Great Ming needs to do now is to re-coin coins.”
Xia Yuanji's eyes lit up with excitement as he spoke. It was as if a whole new world had opened up for him.
When Zhu Bai said his final words, Xia Yuanji's mind was completely cleared up.
"I understand. Your Highness, you mean to cast gold and silver coins and allow them to circulate?”
Xia Yuanji spoke.
"Yes, we will forge gold and silver coins to circulate in the market and temporarily replace paper money!”
Zhu Bai's words were firm and serious.
Perhaps paper money was the trend and a more advanced existence, but that was not the present.
What Da Ming needed now was not paper money.
A large number of banknotes, coupled with the constant depreciations, had instead caused the entire Great Ming's credit to suffer a blow.
At the beginning of the Ming Dynasty, they placed their hopes on banknotes. They hoped to increase the country's income by issuing banknotes, so they had this "Ming Bao banknote."
It also stipulated the ratio of the Great Ming Treasure Notes to some intermediary items: Each set of banknotes was equivalent to one thousand wen, which was equivalent to one tael of silver. Four strings of notes were equivalent to one tael of gold. In this way, the Great Ming Treasure Notes were linked to other currencies.
In the actual circulation process, Zhu Yuanzhang banned the circulation of gold and silver, and even stipulated that paper money must be used according to the transaction volume.
At that time, it was stipulated that all transactions above 100 wen must use paper money, and for transactions below 100 wen, copper coins could be used. Gold and silver were completely banned.
From this, it could be seen that the Ming Dynasty's issuing of paper money was completely enforced by the power of the state.
However, reality was often harsh. According to the Ming Shi Lu, in the 27th year of Hongwu, each string of notes was only worth 160 wen, which was six times the value of the notes.
Although it was only the 25th year of Hongwu, the value of the banknotes had dropped by more than four times.
In the year 1390 alone, Old Zhu had rewarded 95 million copper coins in notes, while the government's income was only about 21 million copper coins. This was equivalent to 74 million yuan of new banknotes being issued in a year, which would inevitably increase the market's rate of inflation.
This was simply trampling on Big Ming's credit.
It also caused the entire Great Ming's economy to almost collapse.
To solve this problem, the current banknotes must be abolished.
If this continued, there would definitely be problems.
If gold and silver replaced the existence of banknotes, then the problem of banknotes would be solved.
It could even make the current chaotic currency system of the Great Ming Dynasty perfect again.
"Your Highness is a genius!"
Xia Yuanji was overjoyed. At this moment, his face could not help but reveal an excited expression.
But just as he was getting excited, Zhu Bai spoke again.
"Imperial Father, gold and silver coins can indeed replace paper money. However, Imperial Father has to pay attention to one thing. The amount of money issued each year cannot be more than one-tenth of the national treasury's income. Otherwise, the money in the hands of the people will continue to decrease.”
Zhu Bai's words were serious.
He had to be prepared for his father's personality.
Now, gold and silver were not a problem.
However, as time passed, his father would be playing around like a treasure.
Gold and silver could also destroy Big Ming.
"Not more than one-tenth of the national treasury?”
"I know!"
Old Zhu was a little embarrassed. He finally understood what Zhu Bai was saying, and his face couldn't help but blush.
"How about this!"
"Twelve, you will be in charge of the new currency.”
"The Ministry of Revenue and the Ministry of Works will cooperate with you.”
"You must get it out within a month!”
He quickly said.
"Yes, Imperial Father!"
Zhu Bai nodded. He did not reject this.
After Zhu Bai responded, Old Zhu hurriedly sent the few of them away.
"This brat actually dares to mock his own father.”
Old Zhu said with a smile.
On the other side, Zhu Bai and the others walked down.
"Your Highness, I still have some matters to attend to at the Ministry of Revenue, so I won't be staying for long. Xia Yuanji will be in charge of the currency. If you need anything, you can come to the Ministry of Revenue at any time!”
Lu Chang took a deep look at Zhu Bai before speaking to him.
"Lord Lu, you can do whatever you want!"
Zhu Bai nodded, then suddenly reacted and looked at Xia Yuanji with a strange gaze.
"Your Highness, is there a flower on my face?”
Being stared at by Zhu Bai made Xia Yuanji feel a little uncomfortable. He subconsciously touched his face and asked in confusion,
"Nothing. I didn't expect you to be Xia Yuanji.”
he said with a hint of surprise and strangeness.
"Your Highness, I am Xia Yuanji!”
Xia Yuanji was even more confused.
"Let's go!"
"Let's go to the Ministry of Works first!"
Zhu Bai smiled and did not explain. He then walked towards the Ministry of Works.
Xia Yuanji followed with a puzzled expression.
The two of them quickly headed to the Ministry of Works.
Then, he began his work.
Zhu Bai had also not expected that before his wedding, he would actually be captured by his own father as a laborer.
However, he was not against the creation of money.
After all, it was also to lay a good foundation for his future currency distribution.
The figure walked into the Ministry of Works.
Soon, the preparations were completed.
From the second day onwards, he began to take action.
He gathered a large number of craftsmen.
They began to forge coins.
There were two most important aspects to a currency. One was that it was passable, which was not a problem because it was a precious metal. The second was that it was anti-counterfeit.
The bad thing was that the anti-counterfeit methods of the later generations were extremely perfect. Zhu Bai could just directly take out some of the methods of the later generations.
Of course, there was another point, which was that the value of the currency itself should be lower than the value of the metal.
Otherwise, it would be very easy for problems to occur.
Bad money drove out good money. This was the law of the capital market.
The so-called bad money drove out good money. When two currencies with different actual values but constant legal exchange rates circulated at the same time, the currency or silver (good money) with a high actual value would inevitably be melted, collected, or output out of circulation, while the currency with a low actual value (bad money) would flood the market.
He had to pay attention to the currency issue.
Towards this, Zhu Bai had no choice but to be cautious.
Even if this was just for the sake of the Great.
However, he had also considered it carefully.
However, before he could think for too long, an official from the Ministry of Revenue gave him a solution.
"Your Highness, gold and silver coins can be cast using the same method as copper coins!”
the official said carefully.
He was filled with curiosity about the person in front of him, but he did not dare to ask.
"The method to forge copper coins?"
Zhu Bai was stunned for a moment, somewhat puzzled.
"Yes, Your Highness. When copper coins are cast, they are usually mixed with copper, tin, and lead. Gold and silver coins can also be used.”
the official from the Ministry of Revenue said softly.
And his words also caused Zhu Bai's eyes to involuntarily widen.
It was only then that he realized that ancient China had already started casting alloys. The so-called copper coins were not completely made of copper, but of alloy.
In ancient times, no one knew what it meant to drive out good money with bad money. However, if it was cast with pure copper, the flow of the money mold would be poor, and tin and lead alloy casting would have better flow.
Under such circumstances, the Chinese dynasties gradually grasped this rule.
After countless experiments, he had come up with the complete pattern of copper coins.
- "Father, do you know what money is?”
After muttering to himself for a moment, Zhu Bai spoke.
Although he was shocked by the sensitivity of these people and their familiarity with the economy, this was one of the main purposes of his return to the capital this time. Naturally, he could not hide it.
"What is money?"
Hearing Zhu Bai's words, Lu Chang and Xia Yuanji fell into deep thought, while Old Zhu was at a loss.
"Your Highness, I believe that coins are used to measure the value of items!”
After pondering for a moment, Xia Yuanji spoke first.
"That's right. Coins are indeed a measure of the value of objects. Coins from the Spring and Autumn Warring States Period evolved from shovel-shaped tool money. There were silver coins, and most of them were bronze coins. Therefore, from the Great Qin Dynasty until now, almost all coins were copper coins. It was only until the Northern Song Dynasty that Jiaozi coins were produced, and then Jiaozi coins were produced, and finally until the Ming Dynasty's Baoqian coins were produced.”
"But sirs, are the notes really worth that much money?”
Zhu Bai said with a bitter smile.
It had to be said that the currency system in ancient China was extremely developed. In the Song Dynasty, paper money was born.
However, the key was that the step was too big. The metal currency had not been perfected and had directly jumped to the paper money step. It would be strange if there were no problems.
In fact, whether it was Great Song, Mengyuan, or the current Great Ming.
Treasure notes were actually constantly depreciating. In the end, they were even worse than toilet paper.
"Your Highness, what do you mean?"
The few of them looked a little awkward, but Xia Yuanji didn't care about this and asked directly.
"Paper money is used to replace metal currency. It is a currency symbol issued by the state and forced to be used. Compared with metal currency, the production cost of banknotes was lower, and it was easier to store, carry, and transport, avoiding the wear and tear of coins in circulation.”
"The key is that we need basic metal currency to have the foundation of paper money.”
"Imperial Father, two sirs."
"I think if we want to change the gold and silver problem, I think what Great Ming needs to do now is to re-coin coins.”
Xia Yuanji's eyes lit up with excitement as he spoke. It was as if a whole new world had opened up for him.
When Zhu Bai said his final words, Xia Yuanji's mind was completely cleared up.
"I understand. Your Highness, you mean to cast gold and silver coins and allow them to circulate?”
Xia Yuanji spoke.
"Yes, we will forge gold and silver coins to circulate in the market and temporarily replace paper money!”
Zhu Bai's words were firm and serious.
Perhaps paper money was the trend and a more advanced existence, but that was not the present.
What Da Ming needed now was not paper money.
A large number of banknotes, coupled with the constant depreciations, had instead caused the entire Great Ming's credit to suffer a blow.
At the beginning of the Ming Dynasty, they placed their hopes on banknotes. They hoped to increase the country's income by issuing banknotes, so they had this "Ming Bao banknote."
It also stipulated the ratio of the Great Ming Treasure Notes to some intermediary items: Each set of banknotes was equivalent to one thousand wen, which was equivalent to one tael of silver. Four strings of notes were equivalent to one tael of gold. In this way, the Great Ming Treasure Notes were linked to other currencies.
In the actual circulation process, Zhu Yuanzhang banned the circulation of gold and silver, and even stipulated that paper money must be used according to the transaction volume.
At that time, it was stipulated that all transactions above 100 wen must use paper money, and for transactions below 100 wen, copper coins could be used. Gold and silver were completely banned.
From this, it could be seen that the Ming Dynasty's issuing of paper money was completely enforced by the power of the state.
However, reality was often harsh. According to the Ming Shi Lu, in the 27th year of Hongwu, each string of notes was only worth 160 wen, which was six times the value of the notes.
Although it was only the 25th year of Hongwu, the value of the banknotes had dropped by more than four times.
In the year 1390 alone, Old Zhu had rewarded 95 million copper coins in notes, while the government's income was only about 21 million copper coins. This was equivalent to 74 million yuan of new banknotes being issued in a year, which would inevitably increase the market's rate of inflation.
This was simply trampling on Big Ming's credit.
It also caused the entire Great Ming's economy to almost collapse.
To solve this problem, the current banknotes must be abolished.
If this continued, there would definitely be problems.
If gold and silver replaced the existence of banknotes, then the problem of banknotes would be solved.
It could even make the current chaotic currency system of the Great Ming Dynasty perfect again.
"Your Highness is a genius!"
Xia Yuanji was overjoyed. At this moment, his face could not help but reveal an excited expression.
But just as he was getting excited, Zhu Bai spoke again.
"Imperial Father, gold and silver coins can indeed replace paper money. However, Imperial Father has to pay attention to one thing. The amount of money issued each year cannot be more than one-tenth of the national treasury's income. Otherwise, the money in the hands of the people will continue to decrease.”
Zhu Bai's words were serious.
He had to be prepared for his father's personality.
Now, gold and silver were not a problem.
However, as time passed, his father would be playing around like a treasure.
Gold and silver could also destroy Big Ming.
"Not more than one-tenth of the national treasury?”
"I know!"
Old Zhu was a little embarrassed. He finally understood what Zhu Bai was saying, and his face couldn't help but blush.
"How about this!"
"Twelve, you will be in charge of the new currency.”
"The Ministry of Revenue and the Ministry of Works will cooperate with you.”
"You must get it out within a month!”
He quickly said.
"Yes, Imperial Father!"
Zhu Bai nodded. He did not reject this.
After Zhu Bai responded, Old Zhu hurriedly sent the few of them away.
"This brat actually dares to mock his own father.”
Old Zhu said with a smile.
On the other side, Zhu Bai and the others walked down.
"Your Highness, I still have some matters to attend to at the Ministry of Revenue, so I won't be staying for long. Xia Yuanji will be in charge of the currency. If you need anything, you can come to the Ministry of Revenue at any time!”
Lu Chang took a deep look at Zhu Bai before speaking to him.
"Lord Lu, you can do whatever you want!"
Zhu Bai nodded, then suddenly reacted and looked at Xia Yuanji with a strange gaze.
"Your Highness, is there a flower on my face?”
Being stared at by Zhu Bai made Xia Yuanji feel a little uncomfortable. He subconsciously touched his face and asked in confusion,
"Nothing. I didn't expect you to be Xia Yuanji.”
he said with a hint of surprise and strangeness.
"Your Highness, I am Xia Yuanji!”
Xia Yuanji was even more confused.
"Let's go!"
"Let's go to the Ministry of Works first!"
Zhu Bai smiled and did not explain. He then walked towards the Ministry of Works.
Xia Yuanji followed with a puzzled expression.
The two of them quickly headed to the Ministry of Works.
Then, he began his work.
Zhu Bai had also not expected that before his wedding, he would actually be captured by his own father as a laborer.
However, he was not against the creation of money.
After all, it was also to lay a good foundation for his future currency distribution.
The figure walked into the Ministry of Works.
Soon, the preparations were completed.
From the second day onwards, he began to take action.
He gathered a large number of craftsmen.
They began to forge coins.
There were two most important aspects to a currency. One was that it was passable, which was not a problem because it was a precious metal. The second was that it was anti-counterfeit.
The bad thing was that the anti-counterfeit methods of the later generations were extremely perfect. Zhu Bai could just directly take out some of the methods of the later generations.
Of course, there was another point, which was that the value of the currency itself should be lower than the value of the metal.
Otherwise, it would be very easy for problems to occur.
Bad money drove out good money. This was the law of the capital market.
The so-called bad money drove out good money. When two currencies with different actual values but constant legal exchange rates circulated at the same time, the currency or silver (good money) with a high actual value would inevitably be melted, collected, or output out of circulation, while the currency with a low actual value (bad money) would flood the market.
He had to pay attention to the currency issue.
Towards this, Zhu Bai had no choice but to be cautious.
Even if this was just for the sake of the Great.
However, he had also considered it carefully.
However, before he could think for too long, an official from the Ministry of Revenue gave him a solution.
"Your Highness, gold and silver coins can be cast using the same method as copper coins!”
the official said carefully.
He was filled with curiosity about the person in front of him, but he did not dare to ask.
"The method to forge copper coins?"
Zhu Bai was stunned for a moment, somewhat puzzled.
"Yes, Your Highness. When copper coins are cast, they are usually mixed with copper, tin, and lead. Gold and silver coins can also be used.”
the official from the Ministry of Revenue said softly.
And his words also caused Zhu Bai's eyes to involuntarily widen.
It was only then that he realized that ancient China had already started casting alloys. The so-called copper coins were not completely made of copper, but of alloy.
In ancient times, no one knew what it meant to drive out good money with bad money. However, if it was cast with pure copper, the flow of the money mold would be poor, and tin and lead alloy casting would have better flow.
Under such circumstances, the Chinese dynasties gradually grasped this rule.
After countless experiments, he had come up with the complete pattern of copper coins.
- "Father, do you know what money is?”
After muttering to himself for a moment, Zhu Bai spoke.
Although he was shocked by the sensitivity of these people and their familiarity with the economy, this was one of the main purposes of his return to the capital this time. Naturally, he could not hide it.
"What is money?"
Hearing Zhu Bai's words, Lu Chang and Xia Yuanji fell into deep thought, while Old Zhu was at a loss.
"Your Highness, I believe that coins are used to measure the value of items!”
After pondering for a moment, Xia Yuanji spoke first.
"That's right. Coins are indeed a measure of the value of objects. Coins from the Spring and Autumn Warring States Period evolved from shovel-shaped tool money. There were silver coins, and most of them were bronze coins. Therefore, from the Great Qin Dynasty until now, almost all coins were copper coins. It was only until the Northern Song Dynasty that Jiaozi coins were produced, and then Jiaozi coins were produced, and finally until the Ming Dynasty's Baoqian coins were produced.”
"But sirs, are the notes really worth that much money?”
Zhu Bai said with a bitter smile.
It had to be said that the currency system in ancient China was extremely developed. In the Song Dynasty, paper money was born.
However, the key was that the step was too big. The metal currency had not been perfected and had directly jumped to the paper money step. It would be strange if there were no problems.
In fact, whether it was Great Song, Mengyuan, or the current Great Ming.
Treasure notes were actually constantly depreciating. In the end, they were even worse than toilet paper.
"Your Highness, what do you mean?"
The few of them looked a little awkward, but Xia Yuanji didn't care about this and asked directly.
"Paper money is used to replace metal currency. It is a currency symbol issued by the state and forced to be used. Compared with metal currency, the production cost of banknotes was lower, and it was easier to store, carry, and transport, avoiding the wear and tear of coins in circulation.”
"The key is that we need basic metal currency to have the foundation of paper money.”
"Imperial Father, two sirs."
"I think if we want to change the gold and silver problem, I think what Great Ming needs to do now is to re-coin coins.”
Xia Yuanji's eyes lit up with excitement as he spoke. It was as if a whole new world had opened up for him.
When Zhu Bai said his final words, Xia Yuanji's mind was completely cleared up.
"I understand. Your Highness, you mean to cast gold and silver coins and allow them to circulate?”
Xia Yuanji spoke.
"Yes, we will forge gold and silver coins to circulate in the market and temporarily replace paper money!”
Zhu Bai's words were firm and serious.
Perhaps paper money was the trend and a more advanced existence, but that was not the present.
What Da Ming needed now was not paper money.
A large number of banknotes, coupled with the constant depreciations, had instead caused the entire Great Ming's credit to suffer a blow.
At the beginning of the Ming Dynasty, they placed their hopes on banknotes. They hoped to increase the country's income by issuing banknotes, so they had this "Ming Bao banknote."
It also stipulated the ratio of the Great Ming Treasure Notes to some intermediary items: Each set of banknotes was equivalent to one thousand wen, which was equivalent to one tael of silver. Four strings of notes were equivalent to one tael of gold. In this way, the Great Ming Treasure Notes were linked to other currencies.
In the actual circulation process, Zhu Yuanzhang banned the circulation of gold and silver, and even stipulated that paper money must be used according to the transaction volume.
At that time, it was stipulated that all transactions above 100 wen must use paper money, and for transactions below 100 wen, copper coins could be used. Gold and silver were completely banned.
From this, it could be seen that the Ming Dynasty's issuing of paper money was completely enforced by the power of the state.
However, reality was often harsh. According to the Ming Shi Lu, in the 27th year of Hongwu, each string of notes was only worth 160 wen, which was six times the value of the notes.
Although it was only the 25th year of Hongwu, the value of the banknotes had dropped by more than four times.
In the year 1390 alone, Old Zhu had rewarded 95 million copper coins in notes, while the government's income was only about 21 million copper coins. This was equivalent to 74 million yuan of new banknotes being issued in a year, which would inevitably increase the market's rate of inflation.
This was simply trampling on Big Ming's credit.
It also caused the entire Great Ming's economy to almost collapse.
To solve this problem, the current banknotes must be abolished.
If this continued, there would definitely be problems.
If gold and silver replaced the existence of banknotes, then the problem of banknotes would be solved.
It could even make the current chaotic currency system of the Great Ming Dynasty perfect again.
"Your Highness is a genius!"
Xia Yuanji was overjoyed. At this moment, his face could not help but reveal an excited expression.
But just as he was getting excited, Zhu Bai spoke again.
"Imperial Father, gold and silver coins can indeed replace paper money. However, Imperial Father has to pay attention to one thing. The amount of money issued each year cannot be more than one-tenth of the national treasury's income. Otherwise, the money in the hands of the people will continue to decrease.”
Zhu Bai's words were serious.
He had to be prepared for his father's personality.
Now, gold and silver were not a problem.
However, as time passed, his father would be playing around like a treasure.
Gold and silver could also destroy Big Ming.
"Not more than one-tenth of the national treasury?”
"I know!"
Old Zhu was a little embarrassed. He finally understood what Zhu Bai was saying, and his face couldn't help but blush.
"How about this!"
"Twelve, you will be in charge of the new currency.”
"The Ministry of Revenue and the Ministry of Works will cooperate with you.”
"You must get it out within a month!”
He quickly said.
"Yes, Imperial Father!"
Zhu Bai nodded. He did not reject this.
After Zhu Bai responded, Old Zhu hurriedly sent the few of them away.
"This brat actually dares to mock his own father.”
Old Zhu said with a smile.
On the other side, Zhu Bai and the others walked down.
"Your Highness, I still have some matters to attend to at the Ministry of Revenue, so I won't be staying for long. Xia Yuanji will be in charge of the currency. If you need anything, you can come to the Ministry of Revenue at any time!”
Lu Chang took a deep look at Zhu Bai before speaking to him.
"Lord Lu, you can do whatever you want!"
Zhu Bai nodded, then suddenly reacted and looked at Xia Yuanji with a strange gaze.
"Your Highness, is there a flower on my face?”
Being stared at by Zhu Bai made Xia Yuanji feel a little uncomfortable. He subconsciously touched his face and asked in confusion,
"Nothing. I didn't expect you to be Xia Yuanji.”
he said with a hint of surprise and strangeness.
"Your Highness, I am Xia Yuanji!”
Xia Yuanji was even more confused.
"Let's go!"
"Let's go to the Ministry of Works first!"
Zhu Bai smiled and did not explain. He then walked towards the Ministry of Works.
Xia Yuanji followed with a puzzled expression.
The two of them quickly headed to the Ministry of Works.
Then, he began his work.
Zhu Bai had also not expected that before his wedding, he would actually be captured by his own father as a laborer.
However, he was not against the creation of money.
After all, it was also to lay a good foundation for his future currency distribution.
The figure walked into the Ministry of Works.
Soon, the preparations were completed.
From the second day onwards, he began to take action.
He gathered a large number of craftsmen.
They began to forge coins.
There were two most important aspects to a currency. One was that it was passable, which was not a problem because it was a precious metal. The second was that it was anti-counterfeit.
The bad thing was that the anti-counterfeit methods of the later generations were extremely perfect. Zhu Bai could just directly take out some of the methods of the later generations.
Of course, there was another point, which was that the value of the currency itself should be lower than the value of the metal.
Otherwise, it would be very easy for problems to occur.
Bad money drove out good money. This was the law of the capital market.
The so-called bad money drove out good money. When two currencies with different actual values but constant legal exchange rates circulated at the same time, the currency or silver (good money) with a high actual value would inevitably be melted, collected, or output out of circulation, while the currency with a low actual value (bad money) would flood the market.
He had to pay attention to the currency issue.
Towards this, Zhu Bai had no choice but to be cautious.
Even if this was just for the sake of the Great.
However, he had also considered it carefully.
However, before he could think for too long, an official from the Ministry of Revenue gave him a solution.
"Your Highness, gold and silver coins can be cast using the same method as copper coins!”
the official said carefully.
He was filled with curiosity about the person in front of him, but he did not dare to ask.
"The method to forge copper coins?"
Zhu Bai was stunned for a moment, somewhat puzzled.
"Yes, Your Highness. When copper coins are cast, they are usually mixed with copper, tin, and lead. Gold and silver coins can also be used.”
the official from the Ministry of Revenue said softly.
And his words also caused Zhu Bai's eyes to involuntarily widen.
It was only then that he realized that ancient China had already started casting alloys. The so-called copper coins were not completely made of copper, but of alloy.
In ancient times, no one knew what it meant to drive out good money with bad money. However, if it was cast with pure copper, the flow of the money mold would be poor, and tin and lead alloy casting would have better flow.
Under such circumstances, the Chinese dynasties gradually grasped this rule.
After countless experiments, he had come up with the complete pattern of copper coins.
-
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