Seigniorage is derived from the rights derived after the currency is issued and is not limited to the nature of the currency.
Whether it is banknotes that rely on credit, or metal currencies that rely on the value of precious metals, to get seigniorage, two things must be met: uniqueness and marketability.
Historically, before the birth of credit currency, silver dollars produced in Mexico met the prerequisite for collecting seigniorage from the world.
The failure of the Mexican silver dollar to show the attitude of harvesting the world has nothing to do with the uniqueness of the silver dollar itself. It is only related to the people and things at the time. Simply put, there is no unified market.
People's thinking has not reached that far. Regarding the processing of Mexican silver mines, the three major shipping empires in Europe are thinking about how to plunder and convert the silver mines into silver dollars. The purpose is how to squeeze it more efficiently so that sailing ships can bring the wealth back. Europe.
Due to the current situation, the history of silver mining in Mexico is the history of European colonization of Central America. The country and people who own the silver mines are changing all the time. There is no time, let alone the thought, to lay out the plan.
But even so, the Eastern Market in the middle and late Ming Dynasty and the Qing Dynasty for three hundred years was still disrupted by the disorderly Mexican silver dollars.
The Wu Dynasty was peaceful, with minor chaos but no major chaos in a short period of time, and it had the foundation for long-term policy implementation.
Equation manipulation, layout from the beginning, will greatly slow down the time of minting the coinage.
Combining the two to seize the coinage rights of Kyushu is difficult, but it is not hopeless.
"Remonstrating to let the people do it privately?"
The empress touched the table with her index finger, "The contents of this memorial alone are enough for the Wu Dynasty to get rid of its financial difficulties?"
There were great sages in ancient times!
As the division of Kyushu lasted longer and longer, the pattern became closer to that of the Spring and Autumn Period. The pattern of Confucianism being the sole focus of all schools of thought collapsed, and various theories that had been covered up by history reappeared one after another. Among them, the most intense ideological collision was in the Song Dynasty.
The dynasty was clearly built with the Confucian gentry as its core, but it was at the forefront of thinking about the past and considering the present. A large number of doctrines and theories were integrated into the Confucian system by the scholar-bureaucrats of the Song Dynasty. The battles in the court lost the appearance of the major gentry taking turns to take power. It has already turned into an attack between schools of thought.
The philosophy of mind in the Ming Dynasty was based on the "unity of action and knowledge", and its thinking was more advanced and positive...
This has also led to the increasingly complex learning of senior leaders in various countries, making it difficult for one school of thought to occupy a high position.
"Why use silver instead of gold? Isn't the value of gold better?"
Fang Fang smiled and said, "Gold is indeed more valuable than silver. The problem is that the value of gold itself is too high. One or two small coins are equivalent to ten taels of silver. Copper coins are ten coins, which can correspond to the face value of banknotes issued. How big is the printing?”
"Ten coins, twenty coins, fifty coins, these problems are not big, the material and anti-counterfeiting can keep up, but one hundred coins, three hundred coins, no matter how much we do, no matter how good we are, let's not mention the cost we have paid for it. Energy, how much effort does it take to prevent counterfeiting in the future?”
"This is the same as bad coins in copper coins. A small loss is something you don't want to accept in your heart but you can bear it in reality. But on the other hand, no one can ignore a large loss!"
Hearing this, the empress nodded subconsciously.
Fraud of small amounts is of little significance, but fraud of large amounts will definitely attract a group of daring people.
Compared with silver, the value of gold is too great. To fill the gap, it is necessary to issue large-denomination banknotes.
"If the Wu Dynasty wants to gain the right to mint coins, a sufficiently broad market is the prerequisite. We can suppress it within the Wu Dynasty, but other places cannot. In the face of counterfeit banknotes from abroad, we cannot reach out!"
"Let's talk about gold and silver itself. The process of purifying gold and silver is different. The gold coins themselves are too soft!"
The issuance of any currency needs to prevent the emergence of counterfeit banknotes.
Kyushu has not yet been unified, and the different countries have different ideas. There will definitely be people who will add obstacles before things happen. The former forgery comes from the private sector, and in the later stage, they will have to deal with the ministries of industry of various countries.
There can also be certain restrictions on banknotes. How to control the circulation of metal currency?
If you can't control it, then raise the threshold. If the silver coin can be "blowed" in terms of craftsmanship, then you won't be afraid of others imitating it.
"In that case, why not mix gold and silver? Even if there is a difference, after the overall enlargement, I think this difference is still acceptable!" the empress asked.
Gold, silver, and copper are now used in a mixed manner. Everyone has accepted it. The problem of silver and gold has been solved, so why is it used alone instead of mixed?
Wouldn't it be a more perfect choice to mix together?
"You can think of this as a pit for others to pick!" Fang Fang smiled and did not explain anything.
It's not that it can't be explained, but it's actually useless to explain it. No matter how far theoretical thinking goes, it's just empty talk.
"Since you have considered it, then it will be fine. Whether it will happen or not depends on the palace and time!"
The Empress is not in a hurry. There are a lot of things waiting to be done now. When these things come back to the table, I don’t know when it will happen.
The Wu Dynasty suffered setbacks for forty years, and everyone had plenty of patience. The idea only needed a follow-up, and the empress believed in the equation.
"continue!"
"Third, guard against the leakage of gold and silver from this dynasty!"
The equation opens its hands, "The household market is open, and market circulation is becoming more and more active. To a certain extent, the domestic market will also be opened. Three situations will occur when opening up: more inflows and less outflows, inflows and outflows are balanced, and outflows exceed Inflow, now our country is in a state where outflow exceeds inflow, I call this state a trade deficit!"
"There are many reasons for the formation of trade deficit. The biggest disadvantage is that the country's resources will flow out in a cheap way. Over the years, the Wu Dynasty must have lost a lot of gold and silver!"
The empress' face slightly condensed.
The empress did not want to speak, because this was the reality. If it were not stopped by various means, there would still be output in the mine, and the gold and silver reserves in the Ministry of Revenue would have been emptied by the Song people.
"With the current situation of the Wu Dynasty, the deficit will definitely last for a long time. Therefore, while we need to prevent foreign copper coins from harming the domestic market, we must also build a high wall to block the outflow of domestic gold and silver. If we don't do this, we will never be able to survive." Enough gold and silver to take the first step!”
"its not right!"
"What's wrong?" Fang Fang asked rhetorically, "Everything is divided into active and passive. If it flows out passively before it is controlled by the minting power, the outflowed part cannot come back. But after possessing the minting power, the Wu Dynasty only needs to maintain With a posture of upward development, deficit is not only not a good thing, it is also the key to turning the tables!"
Whether it's a deficit or a surplus, the key depends on what leverage you have?
If there is no mainstream currency that controls seigniorage, a deficit is a bad thing. But when seigniorage is mastered and the inside is not hollow, the whole world can be harvested.
"Forget it, let's not talk about this anymore. I believe you, sister, and you won't harm my sister!" The empress was too lazy to think about it. "Anyway, we want to implement a liquidation system to block the flow of money, and at the same time, keep foreign money and Separate the inner money clearly and don’t mix it up, right?”
