"Did treasure notes actually appear in the Northern Song Dynasty? Mr. Su is so knowledgeable!"
Zhu Fan sighed.
He considered himself to have read many and miscellaneous books, but he had never heard of the earliest appearance of this banknote, the reason for its formation, and its name.
The rest of the people nodded. They didn't know there was such an allusion to the origin of the banknotes.
It's not that they read too few books, but these things are not included in the royal teaching content.
Su Jing looked at Zhu Fan and smiled and said: "Prince Jin, the emergence of treasure banknotes, that is, banknotes, is actually inevitable. With the progress of social development, currencies made of gold, silver, copper and other metals will eventually turn to banknotes."
"Mr. Su, why is it necessary? If it is made of iron currency, the emergence of banknotes is indeed necessary, but if it is replaced by gold and silver, it must not be as heavy and bulky, right?"
Zhu Xi asked Su Jing.
At the same weight, gold and silver are much more valuable than iron, and their volume is much smaller.
The other people also looked at Su Jing curiously, quite curious.
Su Jing was slightly stunned, thinking that these people in front of her were either rich or noble, and they should have a lot of gold and silver. They didn't know that when the amount of money reached a certain level, even if gold and silver were used as currency, there would still be a lot of money, right?
But after thinking about it, Su Jing understood.
This would be the third year of Hongwu in the Ming Dynasty, and the Ming Dynasty was established. Under Zhu Yuanzhang's policy adjustments, the price level was actually very low.
This resulted in that even for large quantities of goods, there would not be much inconvenience using gold and silver as currency.
"King Qin, no matter how valuable gold and silver are, they are still physical objects. As long as the quantity is large enough, it is still inconvenient. In other words, paper money is more convenient."
Su Jing said calmly: "The weight difference between one hundred taels of gold and one thousand taels of gold is ten times different, but if paper money is used, as long as there are two denominations, their weight can be the same."
"Maybe now, the people of Ming Dynasty don't need paper money that much, but in the future, there will always be a day when they need it."
The advantages of paper money are huge compared to metal currencies.
Zhu Yuanzhang saw this and decided to print Ming Dynasty's own treasure banknotes as soon as possible.
"What about a long time ago, when there was no iron currency? What did people use as currency at that time?"
Zhu Ru asked Su Jing. He always had some ideas that were different from others.
Su Jing smiled and looked at Zhu Rui. She, a student who was only a few years old, was really thoughtful.
"King Wu, you asked a good question!"
Su Jing first praised, and then continued: "Metal currency did not appear directly. There must be a process. The history of currency development, so far, I have summarized it into four stages."
"This first stage is naturally when there is no currency, or in other words, physical objects are currency, and objects are exchanged for objects. During this period, human beings were still in the tribal period, that is, the Yan Emperor and the Yellow Emperor recorded in the history books, and even Earlier. The method of exchanging goods has great disadvantages. For example, the value of the goods is not equal, and sometimes it is difficult to exchange. I have a chicken, and you have a sheep. The value of a chicken and a sheep are not equal, and I If you can’t get more chickens, and if you want to add other types of goods that you don’t need, it will be difficult to continue trading.”
"In order to solve these problems, the ancients also thought of their own methods, such as using shells or cloth as currency, which can be understood as standard-priced commodities. However, these things always have some natural flaws when used as currency. For example, they can be found at will and are easy to use. damaged, difficult to preserve, etc.”
"After this, we came to the second stage, which I call the gold bar and silver bullion stage. During this period, the ancients could no longer meet their trading needs by bartering or equivalent goods, so they began to look for some rare items. Items serve as equivalent exchange items, that is, currency. At this stage, gold and silver have shown their unique status, with scarce reserves, stable properties and easy preservation."
"This is a major progress in human history. The use of gold and silver as currency made it possible for small tribes to become large tribes, and even laid the foundation for the emergence of countries."
"However, natural gold and silver ores also have their own shortcomings. They are naturally formed and have different weights and volumes. It is still very troublesome to trade."
"Then, it comes to the third stage, which I generally call the coinage stage. This period is about the time when the feudal dynasty emerged. Natural gold and silver ores were processed into unified specifications of currency under the processing of casting techniques. In this way, Come, transactions will become simpler and fairer.”
"At the same time, due to the continuous expansion of the scale of transactions, gold and silver reserves are gradually unable to meet the needs of transactions. Iron currency and copper currency have appeared one after another, and gradually became what they are now, copper coins, There are also gold and silver ingots, all of the same standard specifications.”
"As for the fourth stage, which is the paper currency stage, Jiaozi that appeared in the Northern Song Dynasty was the earliest paper currency, and Jiaozi was invented by businessmen at that time, but what really made Jiaozi become a paper currency recognized by everyone was because one person."
Su Jing said a lot in one breath, her mouth was dry, so she directly picked up the tea on the table and took a sip.
At this moment, Zhu Biao and the others were listening intently, and it was quite uncomfortable to stop here.
However, when Su Jing wanted to drink water, they did not dare to urge her, so they could only wait patiently.
Outside the study, Zhu Yuanzhang had already arrived.
When he learned that Su Jing was giving lectures to his sons in the Prince's Mansion, Lao Zhu couldn't hold it in any longer.
He was already so distracted that he was even distracted from dealing with government affairs.
When he learned that Su Jing was starting a class, he immediately became curious, and soon he learned that this class was not for Zhu Biao alone, but for all five sons together.
Lao Zhu didn't hesitate and ran over immediately.
Speaking of Su Jing's lectures, every time he gave Zhu Yuanzhang a lot of thinking, he could also foresee many problems for Ming Dynasty.
However, because of this messy incident recently, Su Jing really hasn't been to class for a long time.
Who is it?
Su Jing, you kid, drink water quickly!
Lao Zhu leaned against the window, muttering silently in his heart.
The curious expression on his face was no worse than that of his son. After all, the currency course Su Jing mentioned was exactly related to the Ming Dynasty treasure banknotes he wanted to print.
In the previous two meetings in prison, Su Jing reminded him that the Ming Dynasty treasure banknotes were not so easy to print.
Lao Zhu said he didn't care, but he was always thinking about it in his heart.
At this moment, she was naturally very anxious and wanted Su Jing to speak more and faster!
"Ahem."
Su Jing smoothed her throat, looked at the people in front of her and said, "Do any of you know who is the key figure who turned Jiaozi from private to official?"
silence!
Zhu Biao and Zhu Fan are both people who have read a lot of books. Neither of them knows it, and it is even less likely that others will know it.
"It doesn't matter if you don't know. You might know him if I tell him."
Su Jing smiled and said: "This person is Zhang Yong from the Northern Song Dynasty."
"Master Su is talking about Zhang Yong, a famous official in the two dynasties during the reign of Emperor Taizong and Emperor Zhenzong of the Song Dynasty, who rose to the rank of Minister of Rites?"
Zhu Biao asked immediately.
"probably."
Su Jing answered uncertainly.
To him, Zhang Yong was just a name mentioned in history books when talking about Jiaozi of the Northern Song Dynasty. As for the specific deeds and official positions, he really wasn't very clear about it.
Zhu Fan said: "Zhang Fuzhi is a famous minister in the rule of Shu, and the "Zhang Guaiya Collection" is even more famous. This person is really great!"
Su Jing nodded and said: "Yes, Zhang Yong is very powerful. He turned Jiaozi into a real banknote. His contribution is very great!"
"Mr. Su, after listening to what you said, do you mean that paper money is the mainstream? Now that Ming Dynasty banknotes are about to be printed, does Mr. Su think this is a great thing?"
Zhu Di said.
This is not what he is interested in, but he is still thinking seriously, but all he can think of is the pros and cons of the current Ming Dynasty.
At this point, Zhu Di's pragmatic spirit is still very similar to Zhu Yuanzhang.
Fourth, good question!
Zhu Yuanzhang, who was listening in the audience, couldn't help but admired in his heart. What Zhu Di asked was exactly what Lao Zhu was concerned about.
What are the flaws in the printing of Ming Dynasty banknotes? What improvements are needed?
"King Yan, this is a good question!"
Su Jing was still encouraging as always, but as soon as he finished the encouragement, he changed the topic and said: "But there is no need to worry about this question. When I finish teaching this lesson, you should be able to find the answer by yourself."
Su Jing, can you please be more polite?
Lao Zhu was really mad at Su Jing for doing such a trick.
"Yes, Mr. Su, students must listen carefully."
Zhu Di nodded.
Su Jing resumed her rhythm and said: "Okay, I have briefly told you the history of currency development. Now, I need you to think about a question, what is the essence of currency?"
"Mr. Su, isn't this simple? Isn't the essence of currency just money? Money is used to buy things."
Zhu Xi raised his hand and answered.
Su Jing asked: "Okay, King Qin, what is the money?"
Zhu Xi was stunned and didn't know how to answer for a moment.
Zhu Fan said: "Mr. Su, I think currency represents a certificate that can be used to purchase goods. Gold and silver can serve as this certificate, as can treasure notes."
"Well, that's right. Prince Jin, your thinking is very good."
Su Jing nodded and said: "The term voucher is a good one. To put it more bluntly, it can also be called a general equivalent, a special commodity used to serve as the equivalent of all commodities."
"commodity?"
Zhu Rui asked doubtfully: "Master Su, currency is currency, how can it be a commodity?"
In Zhu Zhu's mind, money is money and commodities are commodities, and the two obviously cannot be confused.
"Yes, Mr. Su, fifth brother is right, currency and commodities are two different things."
Zhu Qing echoed.
Su Jing smiled and said: "Okay, since you think they are two different things, let's talk about it. First, let's talk about the first stage of currency development, barter. For example, one sheep is exchanged for ten chickens. This is Isn’t it an exchange of goods?”
"What if we have reached the third stage of currency development? A sheep is worth five coins. If a farmer who raises sheep wants to buy chickens, he must first sell the sheep and exchange them for silver, and then exchange the silver for them. A grown chicken, right?”
"In the first stage, one sheep is equal to ten chickens, and sheep and chickens are both commodities; but in the third stage, one sheep is equal to five coins and ten chickens, and sheep and chickens are also commodities. Then Why can’t these five pieces of silver be a commodity?”
"Isn't it because the value of the commodity five denarii is equal to that of a sheep, so people are willing to exchange it?"
After Su Jing finished speaking, the minds of several people in the audience began to spin.
"Master Su, students understand, silver, that is, currency, is actually a commodity used to mark prices. Everyone recognizes the value of currency, so currency can become a transit for the exchange of other commodities, just like food. People all recognize food. The value of food can also be used as silver. At this time, food is currency, but it is also a commodity."
Zhu Di was the first to react and said excitedly.
Such logical thinking ability can only be responded to the fastest if Zhu Biao, who has studied and nurtured by Su Jing day and night, can react the fastest.
"Yes, Prince, you understand quickly."
Su Jing nodded, and was very surprised that Zhu Biao gave an example of grain, which showed that Zhu Biao really understood.
Zhu Fan said: "I also understand that currency itself has the properties of a commodity. If currency is no longer a commodity, then currency is no longer currency."
"Well, Prince Jin is very insightful!"
Su Jing praised again, which really surprised him.
Jin Wang Zhu Fan's mind is really smart.
Next was Zhu Rui. After all, he was also Su Jing's certified student, and he quickly understood.
Zhu Xi and Zhu Di thought about it for a long time, and then they seemed to understand.
On the other hand, Lao Zhu, who was outside the window, carefully tasted what Su Jing said and kept nodding, as if he had learned something.
"Don't worry if you don't fully understand it yet. You'll figure it out if you think about it more."
Su Jing comforted, and then continued: "We understand the nature of currency. Now I want to ask you again why gold and silver have become people's final choice as general equivalents in the long history of currency development. Other materials In other words, why are items eliminated?"
"I know this."
Zhu Xiang immediately raised his hand and said: "Because gold and silver are valuable! Everyone likes valuable things, so they become money!"
"Ha ha."
Su Jing smiled.
"What, Mr. Su, am I right?"
Zhu Xi touched his head, feeling a little embarrassed.
Su Jing immediately said: "No, no, no, King Qin is right, gold and silver are valuable, that's why I was chosen, but it would be better if King Qin could go deeper."
"deeper?"
Zhu Ping asked in confusion: "What is Mr. Su referring to?"
Su Jing reminded: "Has King Qin ever thought about why gold and silver are valuable?"
Um?
Zhu Xi frowned even more tightly.
Zhu Rui on the side couldn't help but said: "Master Su, because things are rare and valuable!"
Su Jing immediately nodded and said: "Yes, it is precisely because things are rare that they are valuable, so gold and silver are valuable, but this is only one of the reasons why gold and silver were chosen."
(End of chapter)
