Quan Yun cleared his throat, looked at Qin Feng, and said, "Your Majesty, according to the estimates of the Ministry of Revenue, my income from taxes and fees will fluctuate between 40 million and 60 million taels next year, so the total amount of paper money issued this time is 20 million taels. Within three years, the conversion from metal currency to paper currency was gradually completed. During these three years, the Ming Dynasty still allowed metal currency and paper currency to circulate at the same time."

"The Chief Secretary's plan is a way to maintain the country, and to avoid the risk of all quality changes at one time. However, a new thing appears and everyone accepts it. There is always a process. The heavy gold, silver, and copper coins in their hands suddenly changed to this kind of light paper. It is understandable that everyone is worried about it." Qin Feng shook the paper bill in his hand and made a clamor. "Why do the Chief Secretary have a plan for how to promote the use of paper money and make the people willingly use him?"

"Of course!" Quan Yun owed his body, "Officials are the power of the country. If they eat the country's salary, they naturally must be loyal to the emperor and share their worries. From the date of the signing of the law by His Majesty, the salaries of officials will be directly distributed to paper money and no longer distributed to others. Officials are elites of the country. As long as they start to use it, they will have a certain diffusion effect. The second is the army. The annual expenditure of military pay is large in fiscal expenditure. Our Ming Dynasty now has more than 50,000 regular field troops, and the annual salary exceeds 5 million taels. These will also be paid in paper money. In addition, the salary of the soldiers from various counties is relatively low, but there are also million taels in total. These two items have actually consumed most of the amount of paper money we distributed in the first year."

"Well, officials, it is indeed an effective way to demonstrate the army." Qin Feng smiled and said, "But what if the merchants on the market refuse to accept these paper currencies?"

Su Kairong said: "Your Majesty, you don't have to worry too much. The Ministry of Revenue has made preparations for this. From the date of promulgation of the law, our Ming Dynasty taxes, taxes, fees, metal currency and banknotes in the first year, and the proportion will increase to 70% in the second year. In the third year, we will only accept Ming Dynasty banknotes, and others will no longer be accepted. Whether it is merchants or farmers, if they want to pay these taxes, they must use banknotes, so Your Majesty does not have to worry about them not."

Minister of Works Ge Qingsheng smiled and interrupted: "Your Majesty, the Ministry of Works will have many projects launched next year. Anyone who undertakes all projects of our Ministry of Works will only pay paper money. If you want to do our business, you must accept our conditions."

Wang Yueyao said: "The stall in the Commercial Bureau is too big, and there are tens of thousands of banknotes and money transactions, so we adopt the Ministry of Revenue's slow progress strategy. Anyone who deals with us in business must accept banknotes."

Qin Feng frowned slightly, "The solution is a good solution, but I have a question. The tax fees are collected almost every day, and the banknotes we issued in the first year are only one-third of the annual income. That is obviously, banknotes are a shortage, and it takes a while for these banknotes to be listed and circulated. For example, I went to a merchant to collect taxes today, but he did not have banknotes. What should I do? According to Shangshu Su, half of them must be paid in the first year. This gap must not be loose at will. If you loosen a foot, you may loosen a foot in the end. Maybe you will die in name only. The banknote strategy will collapse."

"Your Majesty is extremely worried, and we have a solution to this." Quan Yun smiled and said, "First, from the date of the promulgation of the banknote circulation law, Taiping Bank of the Ming Dynasty will also be officially opened, and Taiping Bank has a business that is to repay banknotes. I told Your Majesty earlier that officials and the army have consumed almost 70% to 80% of the banknotes, but there are still millions of taels of banknotes, and eventually they will enter Taiping Bank. If anyone does not have banknotes to pay taxes, they can go to Taiping Bank for exchange."

"Taiping Bank!" Qin Feng nodded. This was created by Wang Yueyao.

"This time the law will be only carried out in various counties and cities in various places. That is to say, it is promoted with local counties and Yuejing as pilot projects. County towns are the economic centers of each county and have a great influence on the surrounding counties. As long as this work is carried out smoothly in counties in the first year, it can be promoted smoothly to counties in the second year, and in the third year, it can be carried out naturally across the country. Taiping Bank under the jurisdiction of the Commerce Department has set up outlets in various counties and cities across the country. From the date of the promulgation of the law, Taiping Bank has officially started to open its business to the outside world."

"There are outlets in all counties and cities. Yueyao, you are so generous, your hands and feet are quick and tight!" Qin Feng looked at Wang Yueyao with admiration.

Wang Yueyao chuckled and said, "Your Majesty is a mistake. The Commerce Department has various industries distributed in various counties. This time, Yueyao has just drawn some personnel from these industries to build the team first. This time, the Ministry of Revenue allocated 5 million yuan at one time as the start-up capital of Taiping Bank. For our Commerce Department, this is a huge amount of money. Even if you don't eat, drink, or sleep, Yueyao has to do this."

"Mr. Wang, Taiping Bank is also from the Ming Dynasty. I just moved it from my left pocket to my right pocket." Su Kairong said dissatisfiedly.

"That's right!" Wang Yueyao covered her mouth and chuckled. "This time, Shangshu Su transferred hundreds of officials who were proficient in money to Taiping Bank, which allowed us to start our work smoothly. The Commerce Department is very grateful to Shangshu Su."

Qin Feng laughed when he heard this. Su Kairong was worried about his son, but this time he spared no effort and even tried his best to take care of his breasts. "Just just said one thing, I wonder what the other thing is?"

Quan Yun coughed lightly: "Your Majesty, our estimated tax may reach 60 million next year, but the banknotes are only 20 million. However, according to the policy of the Ministry of Revenue, the banknotes should be 30 million before they can be used. Obviously, as long as the tax fees next year really reach 60 million, the banknotes will obviously not be enough."

"Additional issuance?" Qin Feng asked.

"Of course not!" Su Kairong said: "Your Majesty, at that time, paper money is not enough, but half of the taxes must be paid, which will cause a shortage of paper money. After all, paper money is also a commodity. For example, if I want to pay a tax of 100 taels today, paper money will cost fifty taels, but I only have forty taels in my hand. What should I do?"

"Go to Taiping Bank to exchange."

"What if Taiping Bank is gone?"

Qin Feng spread his hands and said he couldn't think of it.

"Then I have to think of other ways to find other people to exchange." Su Kairong showed a strange smile on his face: "Your Majesty, if I go to find someone to exchange, it will definitely be impossible to exchange the original value. It will inevitably increase the price. Scarce things are always valuable. This will cause a premium for the banknotes and will be more valuable than an equal amount of metal currency."

"This will help promote banknotes. No wonder you only issue one-third of them." Qin Feng smiled and said, "It turns out that I have made this idea."

"Your Majesty, what Secretary Su's meaning is not here." Wang Yueyao giggled: "This is a big business for the court."

"Well, where does this start?" Qin Feng looked at the two of them in confusion.

Wang Yueyao knew that even if Qin Feng saw Qian Lun, he might not be able to figure out the twists and turns in it. He then explained it to Qin Feng carefully, and then Qin Feng suddenly realized it.

"Will it become a fortune for plundering people?" Qin Feng said in surprise.

"Your Majesty, issuing paper money is a way to plunder money in a blatant way." Su Kairong smiled and said, "In fact, it is not just paper money, but even issuing copper coins is the same, but the cost of paper money is lower."

"The cost is not low now." Quan Yun interrupted.

"At the beginning, the cost is naturally high, but as the technology matures step by step, the number of banknotes issuances is increasing, and the cost is almost negligible compared to profits." Su Can hurried over to distinguish himself, "The cost is high now, mainly because our technology still has defects, but I am confident that these problems can be completely solved within one to two years."

Listening to everyone's words, Qin Feng touched his chin and said thoughtfully: "Since Master, I suddenly had an idea. You said that if we could circulate the banknotes in our country and if they could circulate the banknotes in other countries, for example, in Qin, the Qin people also thought that our money was useful and that our money was valuable, would they use our banknotes? If they also used our banknotes, wouldn't that be..."

Su Can lighted his big head like a chicken pecking at rice, "Your Majesty is wise, Your Majesty is wise. If you can really do this, then we will make a big splash. At that time, we will exchange this light paper for real gold, silver and copper from Qin."

"More importantly, we can control the economy of Qin." Quan Yun said lightly: "At that time, when the prices in Qin State are really rising, they will rise, if they want them to rise, they will fall, if they want them to fall, they will fall, if they want them to collapse, they will collapse. In fact, isn't it just Qin, Chu, and Qi State the same? Of course, the premise is that we want them to like using our banknotes and think that our banknotes are more valuable than their own metal currency!"

"It's not easy to do this!" Qin Feng shook his head again, "Everyone keeps this matter in mind. After Su Can goes on, he slowly thinks about it. Now the most important thing is to complete the monetary reform of our Ming Dynasty first, lay a solid foundation, and then build a high-level view!"

"Your Majesty is right!" Quan Yun stood up, walked to the big case, presented the decree that had been drafted, and slowly spread it in front of Qin Feng, "Please use a seal."

"Eunuch Le!" Qin Feng also stood up and looked at Eunuch Le on the side.
Chapter completed!