Open Yinjiaozi?
Jiang Fu was stunned when he heard what Zhao Buxi said.
It is true that printing Jiaozi is indeed a solution to the problem. As long as Jiaozi is printed, a large amount of Jiaozi can be obtained. Jiaozi is just a piece of paper. If the court lacks anything, it will not lack paper for printing money.
After printing Jiaozi, you can get a large number of Jiaozi representing coins, and sending them out can alleviate the crisis.
However, this is temporary, and can even be said to be drinking poison to quench thirst.
The problem is not Jiaozi itself, but that Jiaozi corresponds to the same amount of iron money.
If the economy wants to run smoothly, it can only issue as many jiaozi as there are iron coins, or it is not a big problem to issue a little more. Appropriate inflation will not lead to the collapse of the economic situation, but will also give people a sense of A sense of economic prosperity.
However, if the imperial court itself is in financial difficulty and does not have so much iron money, but still needs to print more Jiaozi, so that these Jiaozi cannot be exchanged for iron money with the face value of Jiaozi, then problems will arise.
Jiaozi that cannot be exchanged for iron money is just a piece of waste paper, and a piece of waste paper is meaningless. Excessive issuance of Jiaozi will only cause the collapse of Jiaozi and the collapse of the court's credibility. The people refuse to accept Jiaozi and only recognize the reality. of iron money.
Then Jiaozi will be useless.
In the past history, due to the chaotic operations of the imperial court, banknotes in Jiaozi, including Huizi, have depreciated and collapsed many times. As a result, the public's view of banknotes has never been very good, and they feel that banknotes are not stable in their hands. Only real money is the most stable.
But if it’s just a minority…
Maybe.
So after Jiang Fu was stunned for a moment, he felt that he knew what Zhao Buxi was thinking, and nodded.
"If it's just tens of thousands of dollars, it's not completely impossible. As long as the court is a little more restrained and slowly controls these transfers, and doesn't spend them all in one go, the situation can still be maintained. By then..."
"How can tens of thousands of guan be enough? It should be at least 500,000 guan, right?"
Zhao Buxi interrupted Jiang Fu's words and immediately said: "How can it be enough if the quantity is small? What is the use of tens of thousands of guan? Without half a million guan, can the court have enough money to tide over the difficulties?"
"ah?"
Jiang Fu was stunned.
Five hundred thousand dollars?
Did I hear it wrong or did Zhao Buxi say it wrong?
Doesn't he know that in the past, only about 100,000 guan of iron coins were minted in Sichuan and Sichuan every year?
Five hundred thousand dollars?
Jiang Fu tentatively said: "Your Majesty, in the past, the amount of iron coins minted in Sichuan and Sichuan each year was only about 100,000 guan, and Jiaozi was also printed and issued as a set. A Jiaozi of 500,000 guan? This... Your Majesty said Is it fifty thousand guan?"
"Five million! I said it! Five hundred thousand! You heard it right!"
Zhao Buyi frowned and said: "Fifty thousand guan is only enough to deal with the army once, how many more times? Doesn't the court still have no money? In the current situation, the only reliance of the court is the army. If the army is dissatisfied with this, What else should we do?
I feel that even 500,000 guan is not enough. I may not be able to print hundreds of thousands more guan in the future. With the current state of serious corruption among officials, I don’t know if I can get enough if I put down 100,000 guan. Tens of thousands of dollars were put into practice. "
Jiang Fu was stunned.
The land of Sichuan and Sichuan, where only about 100,000 guan of iron coins are minted every year and flows into the market, suddenly has to squeeze in about 500,000 guan of jiaozi...
this……
Is Jiaozi going to be abolished?
We are not fools. These jiaozi may still be useful at the beginning, but if the time is extended a little to let the market react, the market will be very keen to find that jiaozi is over-issued but the amount of iron money has not increased. In this way, jiaozi's The value will drop.
After waiting for a while, Jiaozi will collapse. People who have never trusted Jiaozi will immediately use Jiaozi to exchange for iron money and directly abandon Jiaozi. This kind of panic action will further penetrate the value of Jiaozi. .
Jiaozi has become a waste of paper. Everyone in the market is collecting coins. Everyone is in danger and does not accept any method of transaction other than coins.
By then, the entire Sichuan-Sichuan economy will experience a crisis and directly enter a state of deflation.
With a military crisis on one side and an economic crisis on the other, it was only a matter of time before the political crisis broke out. As an official with an economic background, Jiang Fu didn't think that Zhao Buxi had no foresight about this.
"Your Majesty, it is not impossible to open a seal to reward soldiers. Fifty thousand guan is fine, but if it is 500,000 guan, the consequences of doing so... Your Majesty must be very clear that this is a one-time method, and once it is used , in the event of a backlash, the imperial court will be very passive and will be unable to fight back in the future."
Zhao Buxi had a gloomy face, thought for a while, and nodded slowly.
"Of course I know, so I plan to use this last opportunity to make a big bet. As long as the bet wins, we will be another village with a bright future."
"big?"
Jiang Fu was stunned and said, "Did your Majesty mean..."
After a moment of confusion, Jiang Fu suddenly opened his mouth wide and took a breath of air.
Jiang Fu understood what Zhao Buxi was planning.
Jiaozi as a paper currency was first issued by thirteen wealthy merchants in Sichuan and Sichuan during the Northern Song Dynasty. It was only born for the commercial trade in their system. However, the advantages of Jiaozi later became too obvious and those who were willing to accept it were More and more.
The government of the Northern Song Dynasty saw that paper money was very promising, so it legislated to bring Jiaozi into official circulation. Jiaozi also completed the transformation process from private jiaozi to official jiaozi.
However, although the issuance rights of Jiaozi were taken away by the government, the exchange business was not completely owned by the government. Although the officials of both Song and Song Dynasties set up some government agencies to operate savings and banknote exchange businesses, relying solely on those agencies set up by the government was obviously insufficient. to meet the needs of the people.
Therefore, some very famous and reputable people in the local area will also open private financial institutions such as Jieku and Exchange Shop.
Jieku and Exchange Shop have some characteristics of private banks and can be regarded as early banks. They are also engaged in financial services such as absorbing savings and lending out to meet the needs of the people.
Jiang Fu himself is one of the beneficiaries of these private savings institutions.
Jiang Fu lost his father early, and the whole family relied on his mother to support him. Her mother was miserable and tired and could not earn enough money. Seeing that there was no money for him to study, Jiang Fu had to give up studying and go out to make a living.
At that time, his mother asked the clan for help. A distant uncle of Jiang Fu's who was engaged in business and had considerable family fortune appreciated Jiang Fu's talents, so he deposited a sum of money in a warehouse in Jiang Fu's hometown to support Jiang Fu's education. .
Later, Jiang Fu's mother withdrew a sum of money from the treasury every month to pay for Jiang Fu's studies. Life at Jiang Fu's family suddenly became much more comfortable, and her mother did not have to work so hard.
Relying on this financial support, Jiang Fu gained fame and became an official, and later gave generous rewards to his distant uncle who sponsored his studies.
Therefore, these private financial institutions are still very meaningful. They can also use interest rates to attract many savers to save, and can accomplish many things.
In Jiang Fu's view, Zhao Buxi's idea was very simple, which was to transfer financial risks to private treasury and exchange shops. In this way, the court could obtain a large amount of coins and replenish the national treasury.
The power of Yinjiaozi is in the hands of the imperial court. The imperial court only needs to open Yinjiaozi and then throw Jiaozi out. It will take advantage of the prosperity of private exchange business and the cumbersome official exchange business to greatly crowd out Jiaozi's currency exchange business. Suppress the private sector, empty out private money and savings, and transfer risks to the court.
If the operation is good, the court can solve the problem of money in a short time.
But for the people...
That would be a disaster.
