Daming: Lend the system to Emperor Hongwu at the beginning

Chapter 82 The Royal Central Bank and Treasure Banknotes

At the same time that Zhu Yuanzhang was busy securing his territory in Guangzhou at the end of the Qing Dynasty, he started to kill.

The historical process of the early Ming Dynasty also began to enter an extremely critical step.

After nearly ten years of recuperation, and Zhu Yuanzhang's continuous implementation and revision of various policies and regulations based on the entire history of the Ming Dynasty, the current Ming Dynasty has completely stabilized in all aspects.

Even gradually showed a prosperous scene.

Coupled with the successive promotion of high-yield crops such as potatoes, corn, and sweet potatoes obtained from the late Ming Dynasty, the food problem that plagued the Ming Dynasty in the early years of Hongwu was completely solved.

In addition, the Royal Steel Firm established by Zhu Biao Hongwu in three years, and the large state-owned workshops established by Hongwu in five years, involving all walks of life, have greatly enriched the material of the entire Ming Dynasty.

As a result, the value of silver is higher.

There is a lot of money in the market, and even a certain degree of deflation has already begun.

For this situation, Zhu Biao was already prepared.

As early as half a year ago, he had transferred Shen Wansan from the Royal Iron and Steel Firm and began to form the first state-owned bank in Daming, the Royal Central Bank.

The bank will issue the first-generation treasure banknotes of the Ming Dynasty as currency instead of silver.

In the original history, Zhu Yuanzhang also issued treasure banknotes. Unfortunately, Lao Zhu was a master in fighting and governing the country, but he was a complete layman in economy.

The treasured banknotes he issued were issued regardless of whether they were received or not, and there was no anchor. The old money was exchanged for new money, and the cost was charged. The most serious thing was the over-issue of currency.

No matter whether the economy grows or not, the social productivity expands or not, the treasured banknotes are issued every year, and more and more every year.

Therefore, although the treasured banknotes are endorsed by national credit, they are only useful in the first ten years. In the last years of Hongwu, they began to depreciate all the way, and later in Yongle and Xuande, even their parents did not know each other.

Basically, by the mid-Xuande period, the attributes of Daming treasure notes as currency had disappeared.

After all, even the tax collection of the imperial court has begun to be changed to gold and silver, not to mention the common people.

But now, of course, Zhu Biao will not let such a thing happen again.

As early as when Lao Zhu was still in the late Ming plane, Zhu Biao suggested that Zhu Yuanzhang bring back 2000 million taels of silver and 100 million taels of gold from the late Ming plane.

Anyway, these gold and silver were copied from the old wealthy landlords’ homes, and the source was also the foreign exchange earned by the gentry on the southeast coast through smuggling.

Coupled with the silver earned through the Royal Steel Firm and large state-owned workshops in the past few years, the silver reserves in his hands have approached 3000 million taels.

These gold and silver are the reserves and anchors that Zhu Biao prepared for the Royal Central Bank.

Coupled with the endorsement of national credit, it is impossible for someone to run maliciously, so the issuance of this treasured banknote is foolproof.

The third day of June in the eighth year of Hongwu's reign was a happy day.

Because today is the day when the imperial court pays salaries.

Lin Yuan is currently an experienced officer of the sixth grade of the Supreme Court, and can receive seven Lumi stones every month.

To be honest, this salary is just enough for their family to eat and drink in Nanjing. In addition, it is now the Hongwu Dynasty, and he himself serves in the most important prefectural court. Every day, I don’t know how many pairs of eyes stare at him. With him, it is even more impossible to embezzle and accept bribes.

Therefore, Lin Yuan has always been very poor, and every time he receives a salary is his happiest day.

He has already started to plan, after receiving his salary, he will buy two catties of fat pork and go back, and eat something good tonight.

As a result, the Ministry of Household was told that the issue of salaries to officials would not be in their control in the future. Now it is under the supervision of a newly established department, the Baochao Promotion Division under the Royal Central Bank.

Although he was puzzled, Lin Yuan did not dare to neglect the issue of his one-month rations, and hurriedly ran to find this new yamen.

At this moment, the officials who came to receive the salary had already lined up in front of the treasured banknotes promotion department, and Lin Yuan hurriedly ran over to line up.

But when he finally got in line, Lin Yuan was dumbfounded when he saw that the other party pointed out eight bells and whistles for him.

He was out of Beijing this month to work on errands, and he just came back to report yesterday, so he really didn't know what this thing was.

"What does that mean?" he asked cautiously.

The official smiled and explained: "This is the banknote issued by the imperial court, called the treasure note, this one is one hundred yuan denomination, and the value is equal to one tael of silver. If you want to change the silver, you can get the treasure note at Then go to the Royal Central Bank next to it to change."

"Now let's calculate your salary. You get seven stones of Lumi every month. Now one stone of grain in the market is one or two taels of silver, so I should give you 840 yuan."

"800 yuan has already been given to you. This is a 20-yuan denomination banknote. If I give you two more, your salary for this month will be settled."

Lin Yuan saw that everyone was like this, and two of his colleagues who knew each other had accepted the treasure money, so he naturally accepted it.

As he was about to leave, the officer stopped him again.

"You wait first!"

"I just saw that you have been out of the field this month, and now there are new regulations. If you are on a business trip, there is a subsidy of 20 yuan a day. You have been out for [-] days in total, so it is [-] yuan!"

"You're done!"

Lin Yuan ignorantly put away the two big red treasures handed over, and left the team in the envious eyes of an older brother next to him.

He reacted just after taking two steps, thinking that if this is the case, wouldn't his salary this month increase by nearly [-]%?
This could not help but make him a little happy.

If you convert it, this is two taels of silver!

"I just don't know if this thing can really be used as money as the person said just now...!" Lin Yuan held a handful of banknotes and slowly entered the crowd to test the purchasing power of the treasured banknotes.

Zhu Biao and Shen Wansan were watching this scene from the Royal Central Bank next to them.

Looking at Lin Yuan's back, Zhu Biao couldn't help but ask, "Is it all arranged?"

"Don't worry, Your Highness, all the stores in the capital have been notified half a month ago. According to the size of each store, each store has reserved a certain amount of treasure money for turnover, and there will be no stores that will not accept it. Treasure banknotes, or the problem that large-value banknotes cannot be exchanged."

"The counter of the Royal Central Bank's treasure banknotes to exchange silver money will also be open all the time, to ensure that when people come to exchange, they can exchange treasure banknotes for silver money at any time."

"it is good!"

Zhu Biao nodded and continued: "It's just not enough. Soon the imperial court will promulgate the Banknote Law, announcing that the use of silver money will be abolished. In the future, the government will collect taxes, pay salaries for officers and soldiers, and pay salaries for officials, all of which will be changed to treasure banknotes."

"The bank branches we set up in various prefectures and counties must also play a role, and the exchange of treasure notes and silver money must be unimpeded."

"Don't worry, Your Highness, Xiaguan will definitely handle this matter!" When Shen Wansan mentioned the word "Xiaguan", his small eyes began to narrow.

He was transferred from the Royal Steel Firm. Although he could no longer get the huge 5.00% silver dividend, he didn't regret it at all, and was even ecstatic about it for a long time.

Silver was already just a number to him, and what he wanted was an official position.

Just like now, although his monthly salary is only [-] yuan in treasure notes, he is the president of the Royal Central Bank, a dignified fourth-rank official of the Ming Dynasty, and he does not need to kneel when he sees the emperor.

Moreover, His Royal Highness also revealed to him that in the future, as long as he can manage the Royal Central Bank well, the grade can be further improved.

If he can really become a high-ranking official above the third rank, then he will really be proud of his ancestors.

(End of this chapter)