"So if we want to solve the problem of inconvenient carrying copper coins, then we can launch a new currency, as long as we can ensure that it can be exchanged for equal value gold." Zhang Nan said.

"New currency?" everyone said in unison.

"That's right, it's a new currency, a currency that is easy to carry and trade. In fact, I don't need to say it. You all should also know that when merchants conduct transactions with relatively large amounts, they will not carry so many copper coins. After the transaction is completed, they usually have a voucher representing their transaction amount. With this voucher, they can get the agreed money." Zhang Nan said.

The certificate Zhang Nan mentioned is the original banknote, which is the so-called "Jiaozi".

In the early years of the Northern Song Dynasty, Sichuan used iron coins, which weighed small, and it took 90 to 100 kilograms of iron coins to buy a piece of silk. It was inconvenient to circulation. So the merchant issued a banknote called Jiaozi, which was used to replace iron coins for circulation.

Thirty coins are deducted for each chunk of cash. Sixteen wealthy merchants in Chengdu opened Jiaozi shops to print, issue and operate the exchange business of copper coins and Jiaozi, which was the first to be a private finance. Every year, when silk, rice and wheat are about to be ripe, they printed Jiaozi on the same color of paper. This is the earliest paper currency.

"Qingquan, do you mean to make this certificate into currency?" Cui Shao asked.

"That's right, that's what I mean, but if this thing is made, it's not a certificate, but a banknote." Zhang Nan said with a smile.

"Bank notes?" Everyone spoke in unison again.

"It's banknotes. Our papermaking technology in the Tang Dynasty is now mature. We can make paper that cannot be imitated by others. We only need to use this paper to make paper money. We can make the smallest face value into a one-month money. When using copper coins in the future, we don't have to take a one-month money. Just one piece of paper is a one-month money." Zhang Nan said with a smile.

"Just just need a piece of paper?" Li Er seemed a little confused. Although Zhang Nan had explained the issue of currency value to him clearly, Li Er was still unable to accept a piece of paper for a while and inexplicably turned into a consistent amount of money.

"Yes, we only need a piece of paper, and we can also set different denominations, such as twenty-month, fifty-month, one hundredth, five hundredth, one-month, or a larger denomination. Of course, this matter of setting denominations only needs to be left to the Ministry of Revenue for consideration."

After hearing Zhang Nan's words, Cui Shao almost vomited blood. Zhang Nan said a lot of words, but in the end he kicked the ball under the feet of the Ministry of Revenue.

"This method is good." Li Er said after thinking about it.

"But Qingquan, how can you ensure that this banknote must be better than copper coins? At least in my opinion, it is not like this." After thinking about it, Changsun Wuji put forward his own different opinions.

"Oh? Lord Changsun thinks there is something wrong with it, you can tell it directly." Zhang Nan said with a smile.

"In my opinion, this banknote has nothing to be desirable except for the value that can be reset. Think about it, this banknote is made of paper. Although it seems more convenient to carry when there is a lot of money, it is not very easy to store." Changsun Wuji said.

"That's right, that's the reason. If you use paper for money, it will not only be difficult to preserve, but it will be relatively easier to imitate?" Fang Xuanling also spoke.

"Imitation? No, no, Lord Fang, you have been worried too much, there is no possibility of imitation." Zhang Nan said with a smile.

"Oh? Are you so sure about Qingquan?" Li Er asked.

"That's right, I'm so sure. I dare to ask the emperor why no one imitates the copper coins we use now?" Zhang Nan looked at Li Er and asked.

"Because they dare not." Li Erdao.

"That's right, it's because they dare not. Our "Tang Law" clearly stipulates that the people prohibit the minting of coins without permission. If someone minted coins without permission, it would be a violation of the "Tang Law". But you should note that it is because of the "Tang Law", so no one among the people dares to mint coins without permission, but this does not mean that the people do not have the technology of minting coins." Zhang Nan said.

"And, Master, are you really sure that there is no circulation of counterfeit coins in the Tang Dynasty? I wouldn't think so, you can't guarantee that this is right," Zhang Nan said with a smile.

Indeed, as Zhang Nan said, even Comrade Li Er, the emperor of the ages, could not guarantee that there was no counterfeit currency circulation in the territory of the Tang Dynasty, because compared with paper money, it would be easier to counterfeit copper coins.

The easiest way is to reduce the weight of the copper coins.

It is completely feasible to dissolve twelve copper coins or eleven copper coins with ten copper coins. And this weight cannot be felt at all when put into the hands of ordinary people.

If you want to make it more similar to solve the weight problem, then add cheaper metal to it, and the cost is not very high.

In the early years of the Western Han Dynasty, there was a serious shortage of money. Emperor Gaozu of Han promoted pod money, which was nominally weighed twelve zhu, but in fact it was only three zhu. When Dong Zhuo was in power, he changed the Wuzhu coins to one zhu, and the currency depreciated four or five times at once. Some people melted the twelve zhu coins and used it as twelve zhu coins. The currency in the market varies in weight and has different specifications.

Due to the limited copper production, the official price of mineral products during the Northern Song Dynasty was: copper per kilogram, tin per kilogram, and lead per kilogram of 18. It can be seen that the price of copper is about six times that of tin and eleven times that of lead.

There are countless examples of such fraud in China's history. Almost every dynasty that uses copper coins as currency can see such records. Apart from the introduction of strict laws, there seems to be no better solution to the fraud of currency fraud.

Of course, in addition to reducing weight and doping other metals, there were cases of using small money as big money during the reign of Emperor Renzong of Song Dynasty.

During the reign of Emperor Renzong, there were constant border troubles and huge military expenditure demands. They often cast large coins and cast three small copper coins into a large coin worth ten. "The money texts are in chaos, the prices are flying, and the public and private troubles are worrying about it."

After Song Huizong ascended the throne, in order to make up for the fiscal deficit caused by huge expenditures, he actually issued currency indiscriminately, which eventually led to inflation. Among the currencies circulating in the Song and Jin Dynasties, it was often seen that the small flat money was crushed and expanded, and then mixed into the money string to pretend to be big money.

So for the Tang Dynasty, Zhang Nan did not think that the Tang Dynasty had any advanced aspects in monetary management compared to other dynasties. So Zhang Nan also believed that the Tang Dynasty also had counterfeit coins.
Chapter completed!