The amount of paper money issued was equivalent to the amount of reserves in the national treasury.
For example, if you had 1,000 taels of gold and issued a 1,000 taels of paper money, then a piece of paper would be equivalent to 1,000 taels of gold.
However, after a while, another 1,000 taels of silver notes would be issued, so two pieces of paper could only be exchanged for 1,000 taels of silver.
The court could indeed control the amount of money printed, and the market might not react so quickly.
However, it was only a matter of time before the rise of the economy.
Old Zhu also liked to reward them with treasure notes on various occasions. It was a completely cost-free business.
In the twenty-third year of Hongwu alone, he had rewarded a total of about ninety-five million strings.
It was equivalent to more than half a year's worth of land tax income for the imperial court.
With such a large amount of banknotes entering the market, it would be strange if something happened to the Great Ming Treasure Notes.
Moreover, there were counterfeit banknotes and they had been issued in the same edition.
The Song Dynasty's Jiaozi could be changed every three years. The old ones could be changed into new Jiaozi, or gold, silver, and copper.
However, Old Zhu did not do this.
"What do you mean by not saying anything?"
"I should tell you the solution first so that I can convince Grandfather!" Zhu Yunhao said coldly.”
"The most important thing now is to rescue the Great Ming Treasure Note before it completely loses its effect.”
"We have to rectify it, or else the Great Ming Treasure Notes will die. No one will use waste paper to trade.”
"Duke Ying, don't you agree?"
Fu Youde, who had just spoken a little and was frowning at this moment, was thinking about something.
"What Taisun said is true, but I wonder if Taisun has any ideas?”
"You can talk about it. Let's discuss it first.”
When the others saw this, they immediately thought about it.
Just treat it as playing with Zhu Yunhao.
Anyway, as long as Zhu Yuanzhang did not agree, it could not be changed.
"This is good too." "Then, Minister Yan, please record it down…" Zhu Yunhao nodded.
"Ministry of Revenue, stop printing old banknotes and start designing new banknotes. Pay more attention to anti-forgery!”
"Ministry of Revenue?"
During the reign of Emperor Hongwu, the treasure notes belonged to the seal of the Ministry of Revenue.
Coins are minted by the Ministry of Works.
" Uh…" Someone reminded," Grand Sun, the Minister of Revenue was just imprisoned."”
"Oh." "Ministry of Works," Zhu Yunhao nodded and said,"The casting of copper coins will continue."”
"But I still have a plan. It's gold, silver, and copper, with gold as the standard.”
" Alright, alright…" Minister of Works Qin Kui's eyes flickered as he said,""It's feasible."
" Strictly check the counterfeit notes," Zhu Yun said." The Ming Dynasty notes are changed every three years according to the Song Dynasty's rules. The common people can exchange their old notes for new notes, or they can exchange them for gold, silver, and copper.”
"Is that okay?"
"Alright…"
"Increase the collection of banknotes. The principle of collecting banknotes is to change from seven to three notes to three to seven notes for the time being.”
"Alright…"
“…”
What Zhu Yunhao was trying to do was to restore the credibility of the Ming Dynasty notes to the greatest extent.
To maintain and strengthen the status of Ming Bao banknote.
At the beginning.
All the ministers just wanted to play with Zhu Yunhao.
They didn't expect the young grand grandson to do anything big.
In the end, as they listened, they discussed.
It seemed very, very feasible!
However!
It was the Minister of Works, Qin Kui, who was in charge of coining coins.
"Grand Sun, with the current situation, we can indeed maintain the practice of exchanging notes for money. But it won't last long."
"Once the treasury runs out of money, I'm afraid the banknotes will collapse even faster.”
"Moreover, Da Ming lacks copper!"
Zhu Yunhao nodded. His eyes flashed, and then he gritted his teeth and said,"
"Copper, continue to increase the intensity of mining!”
"But we lack copper." Qin Kui emphasized again.
Zhu Yunhao paused for a moment, stared at Qin Kui, and said,""Mount Zhijin in Fujian. There's gold and copper there.”
"The people of Song didn't finish digging."
"Investigate more carefully."
"What?" Qin Kui's eyes widened.
"What?" "What good would it do me to lie to you?" Zhu Yunhao glared at him.”
"As for other ways to make money, I'll think of a way!”
Qin Kui's lips moved and he bowed to Zhu Yunhao.
Great grandson is so bold!
There was no harm in him doing it.
Even if they failed in the end, it would still be a credit if there was a new mine.
Finally.
"Everyone, this is the first time I've been involved in national politics. I wonder if there are any shortcomings in these matters?" Zhu Yunhao recalled.”
"..." Everyone's expression was strange.
How many times have you said this?
Moreover, you were the one who talked about the Great Ming Treasure Notes most of the time.
He was too humble.
Of course, they did not think that Zhu Yuanzhang had instructed Zhu Yunhao to do so.
They knew very well that Old Zhu didn't think so much about the economy.
"No?" Zhu Yunhao looked at it and said,"Alright, then I'll go and talk to Imperial Grandfather about this."”
"Yan Song, are you done?"
What was so difficult about that? If he took it back, he could immediately stamp the imperial seal on it!
As Zhu Yunhao stood up, he picked up the blank imperial edict beside him.
This made everyone's hearts skip a beat.
To them, it was an imperial edict and a deadly butcher's knife!
Zhu Yunhao picked it up but did not open it.
Instead, after taking the things that Yan Song recorded, he said to everyone,
"Everyone, wait for my good news."
"You guys go do your own things first.”
With that, Zhu Yunhao turned around and left.
The ministers in Wenhua Hall knew that Zhu Yunhao was indeed going to beg Zhu Yuanzhang for mercy, and they all burst into tears.
"Taisun Renyi…"
Even though it was difficult for Zhu Biao to persuade Zhu Yuanzhang…
When everyone left the Hall of Cultural splendor.
A eunuch called out to Fu Youde.
"Duke Ying, please wait a moment.”
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