Soon, Denglai Bank determined the silver dollar style. The silver dollar issued by Shandong will be in the shape of crossing swords and guns on the front, representing the spirit of martial arts, and the pattern of rice ears and steam engines on the back will be represented by agriculture and industry.

At the same time, it was determined that each silver dollar was 92, copper was 08, and one yuan weighed one tael. One kilogram was equal to 16 taels. Each kilogram was 31.25 grams, 28.75 grams of silver, 2 cents of 9 cents, 2.5 grams of copper, 8 cents.

This 8-point copper is the seigniorage tax earned by Zhao Yan.

"For every 100 taels of silver, we can earn 8 taels of silver. If it is 100 million taels of silver, we will get 8 million taels of silver. After deducting the cost, it will be about 5 million taels." Zhao Quan said to Zhao Yan.

"Yes, it's a big income." Zhao Yan nodded, "Then let's just do it! Let's make sure the production line immediately and start casting."

The income of 5 million taels is indeed a large income. It is still very fast to print a silver dollar of 100 million taels of silver, after all, we are using a steam engine now.

The cash silver in Zhao Yan's hands has reached more than 80 million taels, and it is unknown how much money is in Shandong. However, Zhao Yan has invested money in the past year and has definitely had a lot of money. The deposits in Denglai Bank have reached hundreds of millions of taels this year.

Once Zhao Yan issues silver dollars, it is equivalent to spending money on the world's fire.

Fire consumption is the expenses extracted from the silver ingots when the government collects taxes. Since Zhang Juzheng implemented the whip method, fire consumption has appeared.

When people pay taxes, they use silver. Therefore, the government will increase their income from fire consumption. At present, the fire consumption of the Ming Dynasty is one cent for the lower one, and the higher one is even two cents for the higher one.

If silver dollars are used, the fire consumption is only six cents, so the people will naturally be happy to use silver dollars.

In terms of fire consumption, the cabinet must cooperate and order the government to use silver dollars when collecting taxes, and fire consumption shall not be charged to those who pay the silver dollars.

Fire consumption is not the main reason why silver coins can exist. The main reason is that silver ingots and silver ingots are heavy in weight, irregular in shape, inconvenient in carrying, and many types and uneven in quality, which brings great inconvenience to transactions.

Silver coins are easy to carry, have stable quality, and are easy to trade and measure. Therefore, the people are not stupid. For ordinary people who have to trade with silver every day, the transaction cost saved by the convenience of using silver coins is enough to compensate for the loss of 7 minutes of silver, which is a cost-effective transaction. Zhao Yan takes away silver and makes a profit, and the people get convenience, which is a win-win transaction.

This is also the reason why the silver coins of Europeans were not worth enough but were circulated in the Ming Dynasty.

At the same time, the style of the corner is determined, with a corner weighing 10 grams, brass 10%, and white lead 90%, the cost is only 2 cents, and the profit of a dime almost reaches 100%.

The reason why the profit of the jin is able to be adjusted to this high is that this is not the main currency, but just the auxiliary currency. The holder can get exchanged at the bank, and ten cents can be exchanged for one silver dollar. In this way, even if it has no value, it can still be circulated.

Of course, such profits test the anti-counterfeiting ability. Once someone creates the same copper coins, it will be a big loss. Just like a dollar coin in later generations, the cost is less than a cent, and fake coins often appear.

Zhao Yan is now fearless. The copper coins representing the jar are directly stamped with a steam engine, and the use of the steam engine is strictly registered. Who can imitate it?

Below the corner, there is no division, but copper coins are used.

Currently, one tael of silver on the market can be exchanged for 1,000 copper plates, that is, 1,000 coins. Most of the copper coins are pure copper, and there are many types of copper coins, but they are generally about 3 grams in size.

The copper coins determined by the bank only weigh 3 grams per cent, and they are not pure copper, but cheap brass.

Currently, there are two ways to obtain brass. One is to import it from Japan. You can buy 9 kilograms of silver for one tael of silver, while the price of copper in the Ming Dynasty was about 3 kilograms of silver.

The difference is twice, which is 6 kilograms.

The second level is to make brass with half of pure copper added to the zinc. The zinc mine is everywhere in the country. This kind of brass can get a double price difference, 3 kilograms of copper, and can be melted into 6 kilograms of brass.

As for purchasing power, there is basically no difference between brass and pure copper. People do not think that brass is of lower value than pure copper. On the contrary, many people also like to collect brass because brass is more beautiful and wear-resistant.

Therefore, copper coins are also a very high profit part. If you ship brass back from Japan, the profit can reach 200%. If you smel the brass yourself, the profit will be about 100%. After deducting labor costs, it will be less than 100%, but it will not be much lower, at most 10%, and the profit will be 90%.

The brass shipped back in Japan was previously mainly used for artillery manufacturing and other commodities, while the excess was stored in warehouses.

The brass stored at present is more than 30,000 tons, which is about 10 million taels of silver, and the cost is only about 3.4 million taels.

If these brasses are not made into copper coins, they will be a pile of broken copper and iron.

With a steam engine, you can find enough ability to ensure the quality of copper coins.

Copper is barely considered a precious metal, but it is also an existence that does not make people care about, so people have tried to scrape copper in all dynasties.

That is, scrape off the copper coins. People do not weigh the copper coins every time, but only when the amount is relatively large.

Therefore, the copper scraper is given a chance.

The way to prevent copper scraping is to add a protruding circle on the outside of the copper coin. There is a big difference between having this circle and not having this circle.

If there is no circle, a lot of it can be scraped off by scratching it. If there is a circle blocking, the efficiency will be very low. At this time, the copper scraper must consider whether it is worth scraping.

Those shoddy copper coins are very easy to scrape, but Zhao Yan directly stamped them with a steam engine, and brass is harder than ordinary copper, so scraping copper is almost no profit.

Moreover, the cost of stamping copper coins with a steam engine will be greatly reduced.

Regarding the issue of how much auxiliary coins are issued, Zhao Quan believes that more coins can be issued, while copper coins can be issued as much as possible.

After all, the exchange rate of copper coins is not fixedly linked, and even if copper coins are not valuable, they will not affect silver dollars and copper horns.

"Let's just issue 50 million taels of copper horns for the time being!" Zhao Yan decided to say that if there are too many auxiliary coins, they will be returned, so you are not afraid of too many.

For example, the small-degree auxiliary coins required on the market are 20 million taels, but if you issue 30 million taels, people cannot use all auxiliary coins!

After too many auxiliary coins, you naturally have to get the bank and exchange it for silver dollars. At that time, you still have to spit out as much as you eat, so it will not cause inflation.

If it is silver dollars, 50 million taels are naturally not enough, but the auxiliary coins are only small-denomination items, and each person's home may only have dozens of them at most. The store and hawker may have more auxiliary coins, but not too many. Generally, dozens of them are enough. If it is a small amount, it can be even less.

The auxiliary coins are something that is constantly circulating.

The holder will return it to the bank, and the bank will continue to issue it. 50 million taels of auxiliary coins are definitely enough, and with the development of the economy, fewer and fewer returns will be returned. After reaching a certain level, it will prove that the number of auxiliary coins is insufficient, and at this time, the auxiliary coins can be added again.

Zhao Yan and Zhao Quan and his master and servant hid in the office to calculate and were startled.

The brass on their hands can cast copper coins worth tens of millions of taels of silver.

The silver coins can be minted by almost 200 million taels. If all of them are minted into silver coins, a profit of 16 million taels can be made.

The auxiliary coins were issued 50 million taels.

It can generate a profit of more than 76 million taels, which will be fully cashed within three years. However, copper coins and silver dollars can be continuously included from other places. With continuous operation, there should be no problem in generating a profit of more than 100 million taels within three years.

After deducting costs, it may be only 80 to 90 million taels in the end, and there will be a profit of 20 million to 30 million taels a year. It is indeed a very profitable industry.

Shandong's education funding is only more than 10 million taels a year, and next year it is estimated that there will be a terrifying increase, at most 30 million taels.

A seigniorage can solve the problem of education funding.

Moreover, this model of seigniorage will not cause inflation at all. There is only one way to cause inflation, that is, a large amount of gold and silver influx.

Zhao Yan is now mining gold and silver everywhere, which is also a way to make money similar to seigniorage, which may eventually lead to inflation.

But this possible surname will only happen with agricultural products.

After the steam engine appears, the productivity in all aspects has increased greatly, and the things produced will inevitably increase as much as gold and silver.

Therefore, when inflation occurs, agricultural product prices will rise, but the prices of other products will continue to decline. If people's income does not increase, inflation will occur.

But as income increases, agricultural product output does not necessarily increase, inflation does not exist.

The disgusting seigniorage tax in later generations was inflated all the time, but people's wages did not rise. Experts also listed a lot of data saying that there was no inflation, which was simply lying with your eyes open.

The so-called data means removing the bad-looking parts and leaving only the good-looking ones, and then the data is released. The easiest thing to deceive people is data, and it is easy to convince those unprofessional people.

...After the matter of minting was confirmed, Zhao Yan set up a minting bureau.

More than a dozen steam engines just produced by the steam engine manufacturer were immediately assigned to the Mint, and the Denglai smelting plant was also expanded.

To mint coins, smelting is a necessary process.

After all, the gold, silver and copper on the market have different colors. The base metals must be separated out first, then the legal base metals are added, and then stamped.

If paper money is used, such smelting costs can be saved, but paper money will probably take two years to issue, so paper money is not that simple.

Anti-counterfeiting technology is only initially available, and watermarking technology must be strengthened. Special papers still need to be developed and inks must be carefully selected.

Printing equipment needs to be driven by a steam engine, which takes a certain amount of time to develop, and the layout pattern also takes time to design.

In contrast, the production lines of silver coins, copper horns and copper coins can be determined within one month, but to achieve sufficient production capacity, it will take a few more months.

Then Zhao Yan wrote a letter to Chen Zhongsheng, asking him to cooperate with the issuance of silver dollars.

The silver dollar must have a legal identity, which must be brought to the cabinet. As long as the silver dollar, copper horn and copper coins in the Mint can obtain legal status, the net income of 20 to 30 million taels this year will not be able to escape.

(To be continued)
Chapter completed!