The banknote design plan was unanimously approved by the Cabinet and the Legislative Council.
Zuo Mengeng personally named the banknote and identified it as Xia Yuan.
According to actual needs, Xia Yuan is divided into three categories: Yuan, Jiao and Fen. The maximum face value is one hundred yuan and the minimum face value is one cent.
Originally, according to Zuo Menggeng's intention, there was no "dividing" one level of currency value.
This is just out of his knowledge.
After all, in daily life, it seems that when buying goods, rarely does anything cost pennies.
But Chen Zhi informed Zuo Menggeng of his negligence.
"The face value of a few points may not seem worth mentioning, but in the banking industry, whether it is a deposit interest rate or a loan interest rate, even if the difference is only one point, the amount involved will be a huge difference. With this level With the existence of currency value, banking industry and commodity pricing can operate better."
Zuo Mengeng suddenly realized that he almost made a big mistake.
Even in later generations when currencies continue to depreciate, there is always an inconspicuous concept of low-grade currency value in areas such as bank interest rates and futures trading. The score is even smaller, even calculated in centimeters.
Although this unit of currency has little use in daily life, it is extremely important in the financial field.
And for today's Xia Kingdom, low-grade currency values cannot be avoided in daily currency use.
After all, no matter how Xia's economy develops, the overall level is still relatively primitive. In many places, prices are very low and commodity transactions are not very active.
Strictly speaking, the face value of a one-hundred-yuan note is actually a bit too high.
Judging from the exchange ratio of Xia Yuan to gold, more than 80% of families in Xia Kingdom have an average annual income of less than thirty yuan.
If you spend one hundred yuan to buy food, it will be enough to feed a family of three for ten years.
But Zuo Mengeng still insisted on the implementation of the hundred-yuan banknote.
Although common people don't use it much in their daily lives, it is beneficial to Xia's foreign commerce and trade.
Moreover, if the economy continues to develop, as gold reserves continue to grow, Xia Yuan will definitely experience continued depreciation. In the future, hundred-dollar bills will no longer be rare.
After the issuance of banknotes was confirmed, it was immediately announced to the whole society through "Xiaguo Daily".
At the same time, various banks began to prepare for establishment.
As for the Xia government, in addition to the central bank that oversees the overall financial sector, it also invested in the construction of many state-owned banks such as the National Bank of China, the Industrial and Commercial Bank of China, and the China Construction Bank.
This is also what Zuo Mengeng requested.
The proportion of state-owned financial institutions must occupy an overwhelming and dominant position in the entire financial industry system.
In other words, private capital and external capital must not be allowed to dominate the discourse of the financial industry.
The news of the establishment of the bank caused great repercussions among the people of Xia State.
Private capital from all over the country has been dispatched one after another to inquire and inquire everywhere, with the intention of getting involved.
Regarding this phenomenon, Zuo Menggeng’s instructions are: strictly control the admission qualifications of private capital, establish a strict and loophole-free regulatory system, impose certain restrictions on the business scope of private banks, and deposit and lending interest rates must be accepted by the central government. Bank supervision and many other provisions.
"In the past, Emperor Hongwu also learned from the old practices of the Yuan Dynasty and promoted banknotes. However, it did not take long for the banknotes to become useless waste paper. Now the government is reintroducing the banknote plan. What if the people do not accept it? "
Deep in Mount Tai, there are green trees that block the scorching sun.
Under the dense forest, the creek flows, washing away the scorching heat in this world and adding a bit of coolness.
A group of people sat together in the forest clearing, drinking tea and chatting, enjoying themselves.
Today is a rare day off. Zuo Menggeng and Xu Ruolin invited many people to go out for an outing, which was a relief from the busy schedule of government affairs.
Of course, everyone here is a high-level national official. Even small talk cannot be separated from national affairs.
Liu Zongzhou mentioned the issue of banknotes that has received the most attention recently.
Paper money is definitely nothing new in Chinese history.
Since Jiaozi in the Northern Song Dynasty, banknotes have attracted people's attention and are widely used in economic life.
When later generations summarized history, they expressed more praise for the appearance of paper money in the Northern Song Dynasty.
But in fact, it was the Yuan Dynasty that allowed paper money to circulate on a large scale across the country and occupy the status of legal tender.
The banknotes issued by the Yuan Dynasty were not only widely recognized in the country, but also greatly affected surrounding areas. Until the early Ming Dynasty, banknotes issued by the Yuan Dynasty were still circulating in many areas.
As the founder of the Ming Dynasty, Zhu Yuanzhang naturally saw the power of banknotes, so he also ordered the central government of the Ming Dynasty to create banknotes.
But it is a pity that Zhu Yuanzhang was born as an out-and-out peasant and did not understand economic operations at all. The banknotes he promoted soon turned into waste paper.
Since then, people throughout the Ming Dynasty have changed their minds when it comes to paper money. Until the fall of the Ming Dynasty, paper money did not regain its vitality.
Now that the Xia Kingdom is re-promoting paper money, many people who know history are worried.
"Teacher, don't worry, our banknotes have sufficient gold as reserves. This is the greatest confidence and the guarantee of the value of banknotes. As long as the value of banknotes can be relatively stable, people will of course be more willing to accept it. After all, compared to metal currency , banknotes are more convenient to use and carry.”
Liu Zongzhou was not an economist and could not understand the principle for a moment. But seeing that Zuo Mengeng, Hou Xun and others were all confident, they felt relieved.
Since the founding of Xia State, its national power has been booming, which is enough to prove that the ability of these people to govern the country is worthy of trust.
Compared to banknotes, Liu Zongzhou actually liked another thing more.
He took Xia Guo Daily and handed it to Zuo Mengeng.
"What do you think of Zhang Ximing's article?"
As the printing industry boomed, the emergence of newspapers was a natural progression.
Zuo Menggeng had a full understanding of the power of media and public opinion, so he launched the world's first commercial newspaper that was officially led and open to the whole society.
That is Xia Guo Daily.
This newspaper is an all-inclusive collection of information.
It can not only serve as an official mouthpiece, issuing various official decrees and policy guidance in a timely manner to facilitate communication between the upper and lower levels; it can also publish various academic articles to conduct ideological debates and exchanges; it can also publish literary and artistic works such as stories, poems, songs, and poems.
Nowadays, Xiaguo Daily has even begun to have a special page to publish advertisements, making profits.
As soon as Xia Guo Daily was launched, it immediately received great popularity among the people, and many people of insight realized its value.
They expressed their opinions and promoted their academics on it one after another, and finally achieved their goal of becoming famous.
The biggest highlight is undoubtedly the debate between Liu Zongzhou and Zhang Pu.
(End of chapter)
