"Can this Dasong Bank really turn paper into money? It won't be the same as money, and it will end up being out of control, right?"

Zhao Kai, Wu Haowen and Wu Haode, left Chongzheng Hall with the other two, He Zhizhong, Ji Yi, and Zhang Shuye.

Some time ago, Zhao Ji made the final decision on the three major policies of "reform of military system", "establishing feudal states" and "equalizing fields", which kicked off the reform movement known as "political and political reform".

However, it is one thing to finalize the major policy, and it is another thing to implement the major policy. Because the current court has no money! If there is no money, of course, we have to find a way to make money.

There are only two ways to make money easily, one is to grab it! The other is to print...

When robbing money, you must have strong soldiers, and secondly, you must have rich and weak enemies.

The soldiers of the Song Dynasty are actually not weak now, almost the third in the world. Unfortunately, the number one and second in the world are around the Song Dynasty.

Moreover, a group of rich and weak countries are too far away, so it is inconvenient to grab them.

Of course, you have to grab it if it is inconvenient!

Zhou State is robbing, how can Song State not rob?

Money grabbing is also an important part of the "Master Zhou Reform". How can internationally advanced money grabbing experience not learn to introduce it?

However, it is still too slow to get money. Now I have not found a new continent with gold and silver. The development of gold and silver in Japan has not begun (in fact, not many people know that Japan has gold and silver), so I can only think of other solutions.

For example, if you start the printing press and turn paper into money! There is no need to change it. If you can create a few small goals, you can completely change the dilemma of money shortage.

However, there is a very important prerequisite for "changing money", that is, the money that has not been changed should be distributed as much as possible without going through the financial route, but should be distributed through the financial route.

Because what is distributed through finance is the base currency, while what is distributed through finance is the debt.

In theory, debts have to be paid back!

This also gives the country a sudden brake, which can stomp when a currency crisis occurs, turning the currency crisis into a debt crisis.

The infamous Federal Reserve did the job of "stepping on the brakes" and "stepping on the accelerator". When inflation rose to a certain level, the Federal Reserve would tighten its money through interest rate hikes and other methods, increase borrowing costs, and cause excess money to flow back to the financial system.

Because money is released in the debt model, cash registers and interest rates can effectively recover liquidity, making money expensive and commodities cheap.

To make money with debts, a central bank must be used as the "final lender" to manage liquidity and interest rates. The central bank must not be turned into a cashier of the Ministry of Finance... Otherwise, the one released in large quantities will not be debts, but unrecyclable currency.

Wu Haogu was not an economist, and of course he did not understand these principles. He was just copying some systems from later generations, and he also knew that it would be impossible to print money randomly without control. Therefore, the Dazhou Bank was established, and the right to issue money was divided into two, which were controlled by the Dazhou Bank and the large commercial bank respectively, forming a constraint.

This cautious method of issuing banknotes has now been plagiarized by Ji Yi and sent to Zhao Ji.

Moreover, Ji Yi did not simply copy it, but made some upgrades and proposed the idea of ​​establishing the Dasong Bank Supervision Council.

Ji Yi said slowly: "Your Majesty, the reason why money ignition is uncontrollable is that it is not disclosed for the amount of issuance and is not subject to supervision by the people of the world. Even the people in the Money Industry Guild do not know how much money ignition was printed by the court? Therefore, there is no way to deal with regulation, which makes the crisis uncontrollable."

Ji Tseng paused and said, "So I suggest setting up the Dasong Bank Supervision Council, so that the Dasong Bank, the Qian Industry Guild, and the five major coastal commercial cities will jointly send supervision to manage the Dasong Bank together with the supervisor assigned by the court.

This will tie all aspects together! Control it when issuing coupons, work together to deal with it when there is a run. This way, there will be no bad things."

In fact, the money-induced excessive money supply is not serious. The reason why it collapses is because all parties have their own small plans, not only do not cooperate, but also destroy each other.

For example, banks use money to induce money to set up traps for "money banks" with insufficient financial resources!

Cai Jing, a capable minister, was extremely unprofessional when dealing with the crisis of money. He neither mobilized funds to support the market nor prepared enough specialized materials to deal with the run.

On the contrary, after the crisis, Qian Yan depreciated actively, from 770 to 400. After Cai Jing ordered the Kaifeng Money Industry Guild to support the market with 400. He gradually lowered the price of money exchanged for monopoly materials. This move disrupted Ji Kui's layout of money enlargement again and also caused the issuance of money enacted in a long-term stagnation.

In addition, this depreciation also caused the Hailu Maritime Warfare Department to refuse to accept money, and the tax-bearing person must pay gold, silver, and copper coins, and money cannot be used to attract taxes.

But at the same time, the court stipulated that money could be used to pay commercial and municipal taxes and housing taxes, and it was tax-deducted according to the face value!

After the money depreciated, the court was unable to adjust the value of the money tax deduction in time. This was because the money price had been fluctuating, and the court in Kaifeng Prefecture could not get the market conditions of Jingdong Commercial Market in time. Therefore, major commercial markets simply refused to increase the tax deduction in money.

In this way, the liquidity caused by money plummeted and has now become a specialty for picking up goods.

But at this point, money is hopeless. After all, it has depreciated by less than 50%. There are many banknotes that have fallen more than it in later generations!

However, Ji Yi, who took over the position of Shaozhai and Secretariat, took the initiative to deprive Qian Yin of the monetary function.

Because he wanted to place money in the position of negative teaching materials so as to create the best conditions for issuing bank notes of the same-prime banknotes.

Zhao Ji seemed to be blinded by Ji Tseng Xiang, nodded and said, "What Ji Qing said is very good, so that all parties should use it equally and share risks. However, this time the money tide started in Jingdong and Tianjin. When the Kaifeng Prefecture court knew, many days had passed. Even if all parties could work together, it would be a bit late, right?"

When Ji Yi heard this, she laughed first. He was about to talk about this with Zhao Ji.

"Your Majesty is wise." Ji Dajie said, "Just as the floating wealth under today, 80% of the floating wealth gathers in the east, the south coast, only 10% of the Central Plains, and the rest of the world are 10% in all parts of the world. And half of the floating wealth in the east, the southern coast is in Jingdong and Tianjin Ershang City.

Therefore, the store of Dasong Bank should not be far away from Jingdong Market, otherwise it will be too late to transport copper coins if there is a hurry. I suggest that the main store, treasury and coin workshop of Dasong Bank are all set up in Pengcheng, Xuzhou District.

Xuzhou is a major iron smelting, charcoal, porcelain kiln, and canal transportation center. It has been the place where copper coins are cast since ancient times. Moreover, it will be built into the Twenty-Four Corner Fort, which is enough to shock the Southeast. If the bank's main store and vault are placed in Pengcheng, it should be foolproof.

If there is a run in JD.com, you can immediately mobilize copper coins and water from Pengcheng to transport them to JD.com to stabilize the market."

It is actually an inevitable choice to place the headquarters, vaults and mints of the Song Dynasty Bank in Xuzhou. Because the bank coupons in the Song Dynasty are the basis of copper coins, how heavy are these copper coins? Once there is a run in Jingdong Market, how can it be mobilized from Kaifeng Prefecture to deal with it? More than a thousand miles away! Moreover, the canal will freeze in winter, and there is no way to transport copper coins.

Xuzhou is only 350 miles away from Jingdong Market, and there is a canal directly connected. Even in winter, the canal will not freeze (sometimes it will freeze), which is convenient for transportation and is relatively low in cost.

Moreover, the economic exchanges between Xuzhou and JD.com are very close. Xuzhou is a factory and JD.com is a store. The two are actually the same economic circle. Many JD.com merchants also have industries in Xuzhou and often travel between the two places.

Once there is a bank run on JD.com, the Song Bank only needs to open exchange in Xuzhou. There is no need to transport copper coins more than 300 miles away. Merchants will come to exchange them with bank coupons.

"Ji Qing, do you want to concentrate all the money-casting industry in Xuzhou?" Zhao Ji frowned, feeling something was wrong.

The Song Dynasty set up many coin surveillances across the country to cast copper coins. Of course, the efficiency was low, and there was no guarantee of quality. They were all official workshops, and they also cast iron coins that cheat people in Sichuan!

Although there are all kinds of pitfalls in these bullshit things, they also involve all aspects of interests. If you change them rashly, it will probably seriously affect the production of copper coins.

"Your Majesty," Ji Yi quickly explained, "There are too many money supervisors and poor management are the main reasons for the frequent shortages in this scene. Only by concentrating the casting, unifying the color and style, and setting a reasonable copper content, can the shortages not occur again and the poor money no longer spread. Only by straightening out the copper coins, can the bank bonds linked to the copper coins be issued smoothly. Only by circulating bank bonds can the court borrow money at low interest rates to issue bonds, thereby alleviating the financial difficulties and allowing the new policies to be steadily promoted."

The money industry in the Song Dynasty was more than just a mess! There was a saying in the later coin collection world that if you see a copper coins that you can't recognize at once, you can say it is Song coins, which can usually be correct!

It can be seen that the coins in the Song Dynasty!

The chaos in the coins of the Song Dynasty was mainly concentrated on the two major problems of "copper content" and "being big money". The copper content was unscientific, and there was no accurate number for those with frequent copper content. As a result, copper coins with excessive copper content were destroyed by profiteers to smelify copper, while copper coins with excessive copper content were difficult to circulation.

As for "being big money", it is a bigger pit. A big money must be used for ten or five, which is simply a robbery of people's wealth. The threshold for minting money is not high. As a result, when big money is often minted by the people, it in turn causes losses to the court.

Finally, when the big money depreciated itself under the imperial edict of the court, it dropped from ten to three, and two...

In such situations where copper coins are not straightened out, issuing copper coins standard banknotes is basically a joke and it is unlikely to succeed.

Therefore, the first step in the financial reform of Jiyi Edition is to uniformly mint coins and mint a "white coins" with a suitable copper content, that is, copper coins mixed with a certain amount of miscellaneous lead to make it the most basic currency.

To mint coins in a unified manner, it involves too much. Criticizing coins is the benefit! Zhao Ji frowned slightly, and he felt a little stubborn.

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Chapter completed!