"We exchange it, we accept it, it doesn't matter, the quality is high or low, it is always silver. If the people recognize it, it will be a good thing that benefits the country and the people. If the people don't recognize it, we can't be blamed." Gao Zhi said.
"But this quality..."
"The fineness is easy to say, but our silver is not pure silver. As for the common people's silver, it is never of good quality. But the money that can't be put into the crucible needs to be considered." Gao Ju said, patting the wooden box beside his hand. The extremely exquisite wood grain joinery box, which is flat and flat, was handed down by Australians and used to store "money samples".
Naturally, everyone understands what Mr. Gao is talking about, which is "Australian treasure banknotes".
Such things as treasure notes, money notes, and money stickers are not unfamiliar to Chinese businessmen. The Song, Jin and Yuan Dynasties all had a fairly mature banknote issuance system, especially the issuance and circulation of banknotes in the Southern Song Dynasty, which can be called a miracle in China's financial history - the Southern Song Dynasty used half of the world to support tribute and war expenses for more than a hundred years. It is perfect in use. In the Yuan Dynasty, paper money was simply used as the basic currency.
At the end of the Yuan Dynasty, the banknote law collapsed and banknotes were extremely devalued, but the influence and credibility of banknotes among the people still existed. After Zhu Yuanzhang came to power, he banned the circulation of copper coins and fully resumed the use of paper money without encountering much resistance. After all, the people were no strangers to paper money. Zhu Yuanzhang's decision to use paper money was naturally related to his own experience as a commoner in the Yuan Dynasty. . In his opinion this is a normal thing.
There is no reserve for Ming Dynasty banknotes - this is not a big problem. Paper currency is guaranteed by the authority of the government, as long as it can ensure that the banknotes are accepted by the market and circulated. At the same time, it is not unacceptable to keep the speed and magnitude of depreciation within a certain level. You must know that throughout the Republic of China, hundreds of different kinds of banknotes were circulated in China. Most of them had no reserves and the currency value was not very stable, but they still circulated for many years.
However, in the era when the Ming Dynasty Baochao was born, the Ming government did not have effective grassroots administrative capabilities, and the rural areas were not fully penetrated by the market economy like the late Qing Dynasty and the Republic of China. Zhu Yuanzhang's misunderstanding of banknotes caused the government to regard banknotes as a means of making money "out of nothing". Zhu Yuanzhang rewarded Zhu Di with a large denomination of 300,000 guan banknotes at one time, which showed his ignorance of the banknote policy. The excessive printing of banknotes caused extreme Inflation aside, the government adopts discriminatory policies towards the "legal currency" it issues. It cannot be used to pay taxes except at a limited number of banknotes across the country. This weird policy is tantamount to the issuer itself declaring that it does not trust the value of the banknotes issued - this is probably unique in currency issuance.
Self-discrimination and the uncontrolled issuance of banknotes caused the Ming Dynasty banknotes to continue to depreciate and shrink in the market, and finally had to withdraw from the circulation market. In addition to leaving a bad reputation of "creating a clever name to compete with the people for profit", there is no positive Nothing was left. Although some literati's notes claimed that the Ming Dynasty treasure banknotes were knocked down in a short period of time by merchants who did not trust banknotes during a "strike", in fact it was still reluctantly circulated until the Zhengde period, although by this time its value and circulation range had Insignificant.
Although most of the merchants gathered in this shop have never seen treasure money circulating, they have heard it from their ancestors. Now that they heard that Gao Ji had mentioned "Australian tradable notes", everyone's minds couldn't help but mention it - compared to the Australian silver dollar, they were more concerned about this banknote.
After Baochao was withdrawn from the market, people have more or less seen similar money transfers, banknotes, money orders used by foreign merchants, and even money transfers in the Jiangnan area, but most of these things are in the nature of checks and money orders.
They have already seen the new circulation coupons. Compared with the old circulation coupons they have seen in the past, the bills are slightly larger, but much smaller than money slips, banknotes and the like on the market. The old circulation coupons were already very exquisite, but now they are even more exquisite when new. The paper is crisp and thick, and there is an indescribable pleasure when touching it between the fingers.
Compared with the silver dollar, which has only three denominations, there are many types of banknotes. Not only are there three types of silver dollar exchange coupons of equal amounts, but there are also several small-denomination auxiliary currency coupons. Each has its own pattern and is very beautiful.
How to convert has been explained at the meeting, and there are detailed graphic instructions in the coin box. As long as you can read, you won't be able to figure it out. Moreover, the Australian currency conversion is very simple, which is the decimal conversion method.
"This banknote is very solid. I don't know what kind of paper it is."
"About mulberry paper." Someone said.
“How can mulberry paper be made so smooth and flat?”
…
"Stop arguing, only Australians can make this paper. This is their secret skill." Old Huo, the leader of the paper shop, said in a low voice. Paper shops were the first to be hit by Australian goods, and subsequently the most tightly controlled. In the early years, Lingao's Australian paper was dumped in large quantities to Guangzhou. From high-end to high-end, it forced all the large and small paper workshops in Guangzhou to close down. Only the circulation channels for selling paper were left to survive because Australians needed distribution. of retained. In addition to selling some special papers from other places, the paper shop now purchases most of its products from cooperative branches in Hong Kong.
Except for the paper, the patterns on it are a hundred times more complex than the old circulation coupons of the past. All the businessmen here know the key: even the best engraving masters in the Guangdong market can't make such a plate - even the capital. The yamen from the Ministry of Industry was hired to engrave various official documents for the six ministries, but he didn't have the ability.
"So, this circulation certificate cannot be forged." Someone said.
"That's right." Liang Chenlong, the leader of the Qian Industry Guild, said slowly. The Qianye Guild was the first to bear the brunt of the currency reform because it was related to them. Before coming to Jufenghao, thirteen of the Qianye's peers had already held a closed-door meeting to discuss countermeasures. There was a lot of discussion at the meeting, but the countermeasures were never discussed, so we had to "see the limelight first before talking about it." In fact, their colleagues in the industry can see the benefits of Australians issuing new money at a glance.
"Everyone is a businessman, and they deal with silver and copper coins all day long. When receiving money every day, they must look at the quality of the silver and identify good and bad money. Even so, we often receive bad money. "
Everyone nodded. The storekeeper spends a lot of energy identifying the coins. Silver needs to be judged by its color and weighed. Copper coins also need to be judged by their color and their weight. Talking between Ichiban and his customers is indispensable. If you encounter a guest who is not easy to get along with, there will be a famine to fight. There are also ordinary scoundrels who specialize in using bad money and private money to buy goods from various shops. If they miss the mark, they just take it in. If they pick their sights, they will immediately make a fuss in front of the store. , store owners have to spend money to eliminate disasters.
Even if you are so careful, you will always find some lead lumps, rotten tide silver, crab eyes, sand shells and small coins when taking inventory. When the broken silver is sent to the dumping shop to be cast into ingots, you have to argue with the dumping shop about its fineness. In short, it is an indescribable trouble.
"Now when Australians take out their silver dollars, no matter what their fineness is, one dollar is one dollar, and half dollar is half dollar. As long as there is no shortage, everyone will recognize it. This is a benefit. If it can be implemented, it will be good for the people and us. Merchants are of great benefit." Liang Chenlong said, "However, the Australians still have precious money, so there is nothing to worry about."
"Let's not talk about small-amount auxiliary currency notes." Liang Chenlong said, "Today there is a shortage of copper coins, and most of the money in circulation is bad money made by private mints and official mints. It is not much better than this paper note. It is easier to use paper notes. It’s just this silver dollar circulation certificate…”
As he spoke, a look of worry appeared on his face. The hesitant attitude aroused everyone's worries.
It is not uncommon for merchants in the Ming Dynasty that banknotes and silver coins circulate in equal amounts. Ever since banknotes began to circulate in China, paper money has theoretically circulated in equal amounts as copper coins. Whether it is the Jiaozi of the Song Dynasty or the treasure banknotes of the Ming Dynasty, the face value They are both "wen" and "guan". But in actual use, the "wen" and "guidance" of banknotes are never comparable to those of copper coins. It was common in the Ming Dynasty to buy a few bowls of wine with dozens or hundreds of banknotes.
But now the currency notes do not correspond to copper coins, but to real silver. It also needs to be exchanged for equal value. Businessmen are naturally worried. First of all, do Australians have so many silver dollars that can be exchanged for equal value? Anyone who has a little understanding of finance will definitely consider this issue. Although businessmen in the Ming Dynasty did not understand finance, they still knew the concept of super-fabrication. Just say that the various "shop tickets" issued by various stores-that is, modern shopping coupons-are often issued in excess. If someone collects them all and redeems them, many stores will be run out of business immediately.
This is secondly. What businessmen are more worried about is that the Australians have no intention of guaranteeing the value of the currency: whether they will arbitrage all the silver on the market by selling a large number of circulating certificates. Leaving a pile of banknotes and letting them depreciate - although they have never experienced this trick personally, they have heard about it through old stories. This was how Dayuan collected all the gold and silver in the Central Plains.
After all, no matter how well-printed the circulation certificate is, it is just a piece of paper, and there is no such thing as real money! Even good yellow and green copper coins are more secure to hold in your hand than this beautiful flower paper.
"If we only trade silver dollars and not silver dollar certificates, this would be a great good governance. All of us in the industry must work together to handle the errands." Liang Chenlong twisted his beard and said, "As for these auxiliary currency certificates, there is a shortage of small coins in the market, so it is best to use them together with copper coins. It’s okay.”
Everyone understood what he meant, and Qian Ye Guild's words set the tone for the meeting. Everyone's eyes were turned to Gao Zhi. (To be continued.) m.
