Xinshun 1730

Chapter 958 The Dynasty's Last Successful Reform ([-])
The reason why Liu Yu cared so much about this matter was that Liu Yu couldn't understand it at all.

Most people are like this, and what they fear most is the unknown.

Because there have indeed been incidents in which currency exchange has deviated from the spectrum in history, but according to the data, it is impossible to understand it, and it is impossible to draw a completely reasonable conclusion.

It is difficult to explain the economy scientifically.

If this is another discipline, it is easy to draw conclusions by listing the various variables.

However, it is precisely this question of the exchange of copper coins and silver, if you follow the variable method to find a logical connection, you will come to very outrageous conclusions.

Historically, the phenomenon of "silver is expensive and money is cheap" began in the late 1810s. Looking at the world, something happened to the silver-producing region of South America at that time: Bolivar and San Martin led the magnificent independence movement in South America, making the world's silver production Giant drop.

It seems that this can be regarded as one of the reasons why silver is expensive and money is cheap.

But the problem is that the reality is not a Martian market. It does not mean that silver, raw silk, and cloth all advanced to a different dimension, and then there were rapid price fluctuations.

And at least before 1830, even if it was opium smuggling, it was still silver inflow.Even if the world's silver production plummeted, it didn't affect the inflow of silver, did it?
Similarly, since 1858, the exchange rate has skyrocketed to 2500 or 2600 coins for one or two taels of silver, and there has been another wave of sharp drops, all the way down to the perfect value of 1000.

In fact, there were a few "little things" that were not paid much attention to in those years.

In the 1850s, a super-large silver mine was discovered in the United States, which is the so-called "Old Silver Mountain" in later generations.

In 1848, gold mining in San Francisco reached new heights.

In 1851, the Australian gold mine was discovered, and the Australian Gold Rush started.

How big is this impact?
Ten years before gold and silver were mined in San Francisco, Old Silver Mine, and Australia, the world produced 65 ounces of gold and 1480 million ounces of silver.About 50 kuping taels of gold and 1200 million taels of silver... These are "printed" by students.

Then, San Francisco, Old Silver Mountain, and Australia, the three big money printing houses began to "print money".

In the 50s, 500 million taels of gold and 2500 million taels of silver were mined in ten years.Moreover, the speed of "printing" money was maintained until the golden mountain became San Francisco, and the silver mountain became the old silver mountain.

It sounds like this can also explain why silver became cheap again after the Second Crow.

But the problem appeared again.

From the beginning of Erya, except for the wonderful few years, basically all the silver has flowed out.

On the one hand, the whole world is frantically mining gold and silver, causing the price of silver to drop.This seems to explain the problem of "silver is cheap and money is expensive" that suddenly appeared during that time.

But the reality is that China's silver is beginning to flow out, and the amount of silver in the country is decreasing, so silver should be expensive.

Just because the explanation couldn't make sense, no matter what, Liu Yu was particularly flustered about this matter.

As long as he can explain it clearly, he will not panic.

Or avoid, or bypass, or find a way to solve it.

It was this kind of weird and unexplainable thing that made him flustered and completely out of control.

In short, if the world is really a "Mars market" and there is really a different dimension space where the goods are priced first, then China's money exchange problem will all make sense:

Bolivar and San Martin led to a sharp drop in the world's silver increment, so money began to be cheap and silver was expensive in the 1810s; the development of San Francisco, Old Silver Mountain, and Australia's gold and silver mines led to a sharp increase in silver, so money was expensive and silver was cheap in the 1860s.

But the premise that this explanation can be justified is precisely the impossible "different-dimensional market and instantaneous price fluctuations".

It is exactly the opposite when calculated according to the surplus and deficit of the domestic market and the country's overseas trade.

This kind of change, not only those literati and bureaucrats in history imagined various reasons, but even the merchants of the East India Company were aware of this change, and gave various explanations.

That is, in 1858, during the period of the Second Crow, Britain's trade with China had already been slapped for 140 million pounds by the head-slapping policy.

Suddenly, in '58, things were easy to sell.

The East India Company also looked confused. After interviewing internal professionals, they came to the conclusion that "because the Chinese people use copper coins, and the value of copper coins has suddenly increased, this increase in trade may be difficult to sustain."

Similar to their original 1 tael of silver, the original 1800 copper coins have become 1400 copper coins. Relatively speaking, the price has been reduced, so it is easy to sell... because they do not accept copper coins, but the common people use copper coins. It is impossible to sell the goods for one tael of silver, and the second-hand dealers use copper coins to denominate the price.

Liu Yu believes that copper coins are the "local currency" of Dashun, while silver is the "foreign currency", because the common people must use copper coins on weekdays, and the domestic market can be calculated by what the common people use.

But the problem is that in 58, the world's gold and silver mines did begin to increase on a large scale, so it was impossible to respond so quickly, and even directly affect the countryside?This reaction speed is comparable to the futures after the popularization of communication, right?Obviously wrong.

However, trying to break my head, I can't figure out where the problem lies.

Liu Yu is not afraid of non-metaphysical things that can be explained with reason.

Whether it is the free trade of the United Kingdom, or the British tradition of the Whig historiography that has made Britain great, etc., these things can be understood by looking at the data, regardless of the nonsense explanations like religion.

However, the exchange of copper coins and silver is like metaphysics.

Liu Yu is also really afraid. With the increase of foreign trade, I don't know when this issue will explode, because it is completely unpredictable, and even many explanations of later generations will not make sense at all.

If it explodes, it will cause a major event: if the currency rises from 800 to 2500, and then plummets to 1000, there will be major events among the people.

For other things, he can explain clearly, and he can explain clearly to the emperor.

This kind of thing can't be explained clearly. If something really happened, he can't even explain the reason. The emperor can only choose the reason of the scholar-officials, and maybe something will happen.

Unified into silver, although it is more affected by external trade.

But at least the variables are reduced, the formula is simplified, and any problems can be solved and predicted in a general direction.

The current coexistence of copper and silver is simply unpredictable and pure chaos.

Where science cannot explain, metaphysics will overflow, and imaginary conclusions cannot be refuted, so it is difficult to handle.

Seeing that Liu Yu was so serious about this matter, the emperor also knew that Liu Yu had seldom been so serious in matters these years. After thinking about it for a while, he said: "The reform of casting money is not a small matter. Besides, if it is exchanged for silver, the imperial court is really so serious." How much silver?"

"The common people are accustomed to using copper coins, and suddenly changing to paper money is tantamount to changing customs. Besides, how should it be implemented?"

"Direct exchange? If the price is low, no one will be willing to exchange it; if the price is high, there will be profiteers collecting money everywhere, and even the people will be short of money."

"Aiqing thinks there is a problem with the trial in southern Jiangsu?"

Liu Yu was very confident about this, shaking his head and said: "If it is tried in southern Jiangsu, there will be no problem. But it is best to implement this matter in several places. The imperial court may not exchange silver, and deposit copper is fine. The situation in southern Jiangsu is special. If It doesn’t make much sense to try it out only in southern Jiangsu.”

Southern Jiangsu has the particularity of southern Jiangsu, and the commodity economy develops rapidly along with Songjiang Prefecture as a trade center.

With the influx of Nanyang rice, micro-loans made some people try to grow mulberry and sell silk, or grow other cash crops.Without the pressure of rice, the development of the commodity economy, and the trial mu tax reform have made it very simple to promote banknotes in southern Jiangsu.

But the problem to be faced now is the two Huaihe Rivers.

In order to control the water, there will inevitably be a large amount of silver pouring into the Huaihe River and Huaihe River. The official money of the imperial court is silver, and the appropriation is also silver.

Moreover, due to changes in the canal in the Lianghuai area, the original old economic support disintegrated. This kind of place is the most in need of a stable currency.

Sunan, that's a matter of course.

The two Huaihe Rivers in northern Jiangsu are the top priority.

Liu Yu made it clear.

"Your Majesty, if the Huai River is to be governed, tens of millions of silver will pour in. And this time, the people will be conscripted and envoys will be paid. It is impossible for the imperial court to issue copper coins, right?"

"Sending so much silver at once, I'm afraid that the local silver price will fluctuate. I'm afraid that some lawless people will go to other places to collect money and come here to exchange silver, which may cause problems with the silver money in other places."

"That's right, if it's only Sunan, I don't think there is any need to be in a hurry. After all the banknotes are used in the future, there will be no problem with small banknotes. Only these two Huaihe Rivers, it's best to move."

When he mentioned this, he also reminded the emperor.

"Aiqing mentioned Lianghuai, and I remembered something again."

"It's just that someone in the middle of the court has gone up and down, wanting to change the salt policy."

"How to change it, you probably know it if you think about it, it's nothing more than Yan Gang, Yan Piao, Yan Yin, etc. It's not just a temporary discussion today."

"The daily court meeting is like entering a garden, with all the beasts contending and birds chirping, making my head ache from the quarrel. Those who support and those who oppose each have their own reasons."

"I want to change my mind. Since you happened to mention the small banknotes, I thought, if the salt method is changed, can it be implemented with small banknotes?"

Liu Yu didn't expect the emperor to take such a big step. In astonishment, the emperor smiled and said: "Don't worry, Yangzhou Yan, I won't move for now. But Haizhou Yan, it will definitely move."

"The canal was abolished, and Haizhou salt had to change its route. Since the route was changed, it was changed along the way. Compared with Yangzhou salt, Haizhou salt is much less. Whether it is successful or not, it is a matter of a few 10 taels of silver. I can afford it now."

"If it's possible, then push it to the South Field; if not, then we'll talk about it later."

"Since this salt is not used by anyone, and Haizhou salt is needed for Lianghuai and Anhui. It would be simpler if we could use the method of matching salt with banknotes."

"As long as the merchants who buy salt tickets know that the banknotes are suitable for use, then if the people have banknotes in their hands, they will also accept them."

"Paper banknotes are recognized by the court taxation. If the salt merchants also recognize it, this should be implemented, right?"

While thinking about the reform of one sheep and two sheep, the emperor pondered the role of banknotes.At least from the perspective of the imperial court, it seems that the problem is not big.

First of all, without the fire consumption, the banknotes can't be said to be smelted with fire consumption, right?

Secondly, Nanyang and Jiangnan can basically meet the bulk of materials used by the imperial court.Even if there is a war in the northwest and southwest, it can be exchanged for silver. Besides, the war there is basically settled down now, and there is no place to spend money, otherwise, they would not dare to build the Huaihe River.Second, the direction in which money will be used in the future is the direction in which paper money can be used to stockpile supplies.

Three years later, the imperial court has indeed been troubled by casting money, and everyone is shouting that there is not enough money. Silver is a large amount of currency, and the common people don't use it very much.

And Dashun expanded its army, especially its navy, and used copper vigorously.

It is best to use copper cannons for naval guns, as iron cannons are prone to rust; it is also best to use copper for elite field cannons, which are lighter in weight.

There was a shortage of copper in the first place, and it was a headache to cast money, so I had to cast it again.It is possible to expand the military and prepare for war, but it cannot be prevented from expanding.

Whether copper is a precious metal or a currency, this contradiction has become more and more severe along with the Dashun military reform.

Of course it would be a good thing if small notes can be used directly.The imperial court used copper as a weapon, and if it was spared, it had to be squeezed out to meet the needs of folk currency first.

Of course, the emperor didn't dare to take too big a step in such a matter.Since it is a reform, it is necessary to reform together by the way, so you might as well try reforming in the Jiangnan and Lianghuai areas first.

The salt in Yangzhou, Huai'an, and Yancheng areas is large in quantity and involves a lot of involvement, so they must not dare to move it now.At least wait until the reform of the salt administration in the Huaibei Salt Field proves to be effective before attempting to reform.

(End of this chapter)