The circulation of the Great Ming Treasure Notes was forced by the government, but the implementation was not smooth and it was difficult to circulate among the people.
The Ming Dynasty notes were printed on mulberry paper. They were about 36 centimeters long and 22 centimeters wide. They were the largest notes in history.
The reason why the Darming Dynasty implemented this kind of paper money was not for the convenience of silver circulation, but mainly because of the lack of copper mines.
In fact, in the beginning, the currency used by the Darming Dynasty was still copper coins. However, if they couldn't find new copper mines, they couldn't cast new copper coins, and the market wasn't enough.
Hence, the government issued this currency. The face value varied from 500 wen, 400 wen, 300 wen, 200 wen, and 100 wen.
A single coin was equivalent to 1,000 copper coins or one tael of silver.
Four strings were equivalent to one tael of gold.
Small transactions were still done using copper coins.
Zhu Yuanzhang's thinking was more ideal. He believed that as long as he set a good standard and used harsh criminal laws to restrain the people to enforce it, the people would gradually accept it.
He had explicitly forbidden the people from using money to trade or bartering. They could only use this kind of Ming Treasure Notes.
However, the issuing of paper money had to be linked to gold and silver. Only with this as the foundation could it be freely exchanged.
There was a fundamental difference between the Daming Dynasty's banknotes and the Song Dynasty's Yuan Dynasty's banknotes. They did not have gold and silver linked to them!
This meant that the Great Ming Treasure Notes had actually become a tool for the government to extract the wealth of the people!
For example, if a person took one tael of silver and exchanged it for the Great Ming Treasure Notes, they could exchange it according to the ratio set by the officials. However, if he wanted to exchange paper notes for silver, the officials would not allow it!
In the early years of the Ming Dynasty, the war had not completely ended. War required money, and money was used to print the Great Ming Treasure Notes. There was only one consequence of issuing unlimited paper money, and that was the rate of inflation!
In just the 30 years of Zhu Yuanzhang's reign, the Ming Dynasty notes had depreciated to one-tenth of their original value!
In other words, the original one yuan was only worth 100 wen!
The commoners exchanged one tael of silver for a piece of paper. After 30 years, this piece of paper was only worth 100 wen. This situation directly dealt a blow to the confidence of the commoners in the Great Ming Treasure Notes.
Therefore, the people were very disgusted with the Ming Dynasty's treasure notes, whether it was ordinary people, landowners, merchants, or officials.
Now, the Great Ming Treasure Notes had already shrunk a lot. This 200,000 Great Ming Treasure Notes was too much!
Moreover, even if the Seventh Prince obtained these 200,000 Great Ming Treasure Notes, it would be very difficult to spend them.
Because most merchants were very disgusted with the trading of the Great Ming Treasure Notes. It was as difficult as ascending to the heavens to exchange real gold and silver for this piece of paper.
The merchants preferred the underground money houses, which were used to make money.
Only this kind of money could be exchanged for real silver.
The current banks were still restricted and suppressed.
However, because of the huge market, smart merchants still built underground money houses.
It often appeared in the form of an ordinary shop, but it could exchange money with gold and silver.
This kind of credibility far surpassed that of the government and was deeply loved by the common people, merchants, and even officials.
Even Zhu Rong had given the large stack of money to Marquis Jiangyin from the underground money house.
It was very convenient for daily purchases and various usage scenarios. On the contrary, the officially issued Great Ming Treasure Notes were not easy to spend.
But if you say that the Ministry of Revenue didn't carry out Zhu Yuanzhang's decree, it's also wrong.
This was the only currency recognized by the government. If anyone dared to say no, even the Seventh Prince could only swallow the bitterness in silence!
Marquis Jiangyin's face turned green when he received 200,000 Great Ming Treasure Notes!
"This is too much! This is too much!"
Although the ten thousand taels of silver that Zhu Yuanzhang had given him previously were also Great Ming Treasure Notes, it was at least more than that. After conversion, it could indeed be used as ten thousand taels of silver.
However, the Ministry of Revenue had played such a trick and only gave 200,000 taels of Ming Treasure Notes. Wasn't this bullying?
In addition, the news that King Qi and the Wu Clan's daughter's marriage in the capital had been foiled made the old man even angrier.
Therefore, the old man waved his big knife and hacked crazily at the big tree in the manor.
Zhu Xiong shook his head.
His father-in-law was too hot-tempered.
However, he had no time to comfort his father-in-law now because he had bigger troubles to deal with.
The imperial court demanded that all potatoes be destroyed and that they be strictly prohibited from being sown, completely disrupting his plans.
Tie Xuan had already ordered all the prefectures and counties to destroy the potatoes in the homes of the people immediately. At the same time, they had to dig out the potatoes that were being harvested and destroy them.
This would cost the lives of the common people!
Although the entire Qi Land did not suffer from a drought like the land of the Three Jin Dynasties, it had encountered man-made disasters.
The people of Qi Lu wailed.
Zhu Rong took 200,000 Ming notes and gave his father-in-law tens of thousands of money that had just arrived. He asked him to work on the matter of building the Qi Mansion first, while he asked the caravan to use the 200,000 Ming notes to secretly buy the remaining potatoes from the landlord and farmers.
He would buy as much as he could!
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