Hongwu Daming: Why hasn't my son rebelled?

Chapter 234 Regulating the Banking Industry

Since Zhu Qi consciously took over the bank and the promotion of banknotes, he naturally had to sort out the order carefully, and then seriously solve this problem.

He doesn't plan to use any of the people in the government yamen.

Those people may be quite reliable in terms of character, but in terms of professional skills, Zhu Qi doesn't think they can be better than those students who have studied mathematics and statistics.

Although the Four Books and Five Classics also have calculations, the teaching is a bit more simple after all, and in the field of economics, it does not mean that good mathematics can solve it.

More is the overall understanding of the economy. Although Zhu Qi dare not call himself a master of economics, under the current environment of Daming, his ideas are definitely ahead of the times.

Compared with using those officials in the officialdom, Zhu Qi directly selects suitable candidates from the academy. Now I think it is more reliable.

And those court officials naturally knew that Liao King Zhu Qi had now formed a new department called the Bank.

And he is fully responsible for the operation of the bank, and also monopolizes the right to make money.

For those officials, no matter Liao Wang Zhu Qi went to be in charge of anything, it was acceptable, but it was unacceptable to be in charge of coin minting.

We must know that currency is the financial lifeblood of a country.

How could such a matter be controlled by a prince?
If His Royal Highness King Liao prints and distributes currency in private, the one that prints millions of copies for himself every day will be messed up.

All of a sudden, it was impeachment like a snowflake, which was sent to Zhu Yuanzhang, and Zhu Yuanzhang was also the same, and he ignored the text of these impeachments.

Even Liao King Zhu Qi knew that those officials were impeaching him, but this was expected.

If they were themselves, they would definitely object to the emperor handing over such an important matter as the right to mint coins to a prince who is not a prince.

And Zhu Qi himself has a clear conscience. If it wasn't for Daming, who wouldn't want to go back to Liaoyang and continue fishing?

And Zhu Qi didn't pay attention to the discordant voices in the hall.

Soon, he selected a group of suitable candidates among his own students, and they came to the bank as the first batch of staff.

Although this bank has just been established, its popularity in Ying Tianfu has already risen.

There is no need to go to special promotional work.

Instead, it is only necessary to print banknotes according to market demand to ensure that the number of banknotes will not be greater than market demand.

Then it is to guide the people to use banknotes as much as possible for transactions, and to carry out related work such as recycling and reissuing of damaged banknotes.

Of course, the most important business of the bank is to store, collect copper coins and silver from the common people, and issue banknotes to them.

It's similar to that in the Song Dynasty, when those tooth dealers collected copper coins from merchants and then distributed Jiaozi to them, it was the same reason.

As for your saying that there is no such business for storing banknotes for the time being, one reason is that it is only beyond the current level of technology and cannot be preserved for as long as it is now.

Secondly, it is also in the hearts of the common people that the recognition of silver and copper coins is far higher than that of banknotes.

So it is very difficult for them to deposit copper coins and silver coins in the bank. If they are asked to deposit copper coins and silver coins in the bank and then let them deposit banknotes in the bank, it will be even more difficult, so Zhu Qi did not Do not force these things.

Originally, Zhu Qi proposed to assess the size of the market, but this kind of thing was impossible for other officials.

Originally, those officials felt that His Highness King Liao was useless to them, so they were already unhappy in their hearts.

Now, of course, I want to see the jokes of His Highness Liaowang. Even if the magic is as powerful as Liaowang, it is impossible to get a clear picture of the market size in a short time.

But what surprised them was that His Royal Highness King Liao really had such abilities.

It's only half a month away, and the spring plowing seeds in February haven't even been sown yet.

The group of people under His Royal Highness King Liao had already grasped the market size of the entire Yingtian Mansion.

And the amount of currency that needs to be issued is formulated according to the size of the market, but those officials can't understand it at all, how did this come out?

In fact, it is very simple. First of all, look at the inflow of copper coins issued by government departments every year.

The rest is just to call up Ying Tianfu's file to check directly at the tax bureau.

The taxation system of Daming commercial taxation also makes various statistics every year, so it is not too difficult for Zhu Qi to figure out these things.

To put it bluntly, it is a matter of computing power. If the computing power is qualified, it is definitely not difficult to calculate the currency required for the market size within ten days.

As for the students under Zhu Qi's command, all of them have studied modern mathematics and various statistics, and these naturally cannot trouble them.

Now that the theoretical work has been completed, all that remains is to issue currency.

The early publicity has also been in place, and the common people have started to go to the bank to exchange currency one after another during this period of time.

After all, it was given as a gift. Although a small bag of food is not much, it is enough for a meal. Who would think there is too much to eat, right?
Although the amount that the common people exchange now is only a very small amount of tens or hundreds of coins.

However, the first step has been taken, and for Zhu Qi, the goal has been achieved, and those ordinary people put these banknotes in their hands, naturally they are not used as toilet paper.

Some Huangzhuang have also opened up the authority to use only super currency. For example, if you want to buy some officially produced salt, silk raw iron and so on.

They can all use the newly issued Mingyuan currency for trade.

It is also officially recognized, and there are precedents for endorsement of these bulk commodities and the use of Ming Yuan.

The common people will naturally follow suit and use these currencies in their daily life and business activities.

It was naturally difficult at first, but when the merchants realized the benefits of paper money, they were very willing to accept it.

After all, a lot of copper and silver on hand is easy to lose, but banknotes are so light and easy to carry, which is very convenient.

In just two months, in the streets and alleys of Yingtianfu, the common people have gradually started to use Ming Yuan for trade.

Although the scale is not particularly large, the proportion of their daily life is only a small part.

But it was a very happy beginning.

All that remains is to control the rhythm of printing banknotes, inspect the market size every year, recover those banknotes and re-issue the process.

The recycling of banknotes and re-issuance is naturally not to make ordinary people consciously hand in banknotes to the bank.

Instead, it needs to be carried out through the savings business. The renewal and replacement of relevant currencies is not accomplished overnight, but a long process of several months.

Needless to say, there is no need to talk about the door-to-door methods, anyway, Zhu Qi also discussed with the bank staff almost exactly, and the rest is to practice.

After the implementation of the currency system, the next most important thing is what Zhu Qi feels is the most urgent need to deal with at present, that is, the issue of lending.

Everyone knows that borrowing is a huge profit, but borrowing is also risky.

Since ancient times, the folks have had the business of lending money.

And many ordinary people often use loans. Most of these things are to borrow food. After all, it is impossible for God to have good weather every year. There will always be times when the harvest is not good.

If you have nothing to eat, you can only go out to borrow food, or will you starve to death?
At this time, various things in the home will be used as collateral.

But don’t think that you don’t have to pay back the food you borrowed. If you borrow food this year, you will have to pay 13 or even 14 cents next year.

The government departments at the beginning naturally did not pay attention to such things as private lending. During the Spring and Autumn and Warring States Periods, the lending business led to the destruction of many ordinary people's homes, so there is no need to mention it.

After Qin Shihuang unified China, the weights and measures were unified, the cars were on the same track, and the books were on the same text. Qin Shihuang also noticed the impact of lending on the people.

So far, it is stipulated that the interest on loans shall not be higher than the standard of nine out and thirteen returns.

In the future, all dynasties will use this standard to measure the behavior of lending.

That is to say, private loans can only go up to [-] out of [-] returns. If this rank is higher than this level, it will be punished by the government.

But if you say it, you may not believe it. In the lending business, the best performers are not those rich possessed local tyrants.

It's the temple monk who everyone seems to be ascetic.

Especially in the situation where the rulers of all dynasties believed in Buddhism and advocated the prosperity of Buddhism and Taoism, it became more obvious.

Those monks eat fast and chant Buddha's words, but secretly drink the blood of the common people. Not only do they own a lot of property, but they also lend money to others.

On the surface, it seems that they are giving porridge to help the common people, but in fact, the interest paid to the common people is very high.

Even double repayment is a very common thing, and the common people naturally repay these debts. If they can't buy and sell their children to repay the debts, they can only mortgage the family's fields and real estate to the monks in the temple.

Even in the Ming Dynasty, the largest private lending organization was still the monks in the temple.

However, after the rectification of previous generations of emperors, the lending situation of temples has now been restrained a lot.

And Zhu Qi's bank is bound to bring about earth-shaking changes for the lending industry, because the interest rate set by Zhu Qi will be far lower than the rate of 9 out of [-] returns.

Not only that, but it is no longer the era when you can lend money as long as you take your property as a mortgage.

Instead, it is necessary to carefully evaluate his personal credit, family property and other aspects before deciding whether to borrow money.

Anyway, things like borrowing and lending must be regulated and cautious.

The private lending behavior also needs to be strictly restricted by laws and regulations, otherwise it will be the common people who will be injured in the end.

To put it bluntly, if it wasn't really impossible to survive these days, who would want to borrow money from outside?

Even when modern hedonism prevails, young people borrow money because they don't have money on hand, so they spend ahead of time.

If the rich second generation, look at them who have nothing to borrow a lot of money to spend.

My parents gave them hundreds of millions or tens of billions.

What Zhu Qi has to do is to ensure that those ordinary people will not cause family poverty due to borrowing.

If you can find a solution, try not to borrow money.

Some people may want to say that borrowing money is beneficial to stimulate the economy. Why is Zhu Qi so conservative?
To put it bluntly, borrowing can indeed stimulate economic behavior, but it depends on the era.

In this fast-paced modern era where money can be made with money, it is indeed feasible to obtain high capital through borrowing and then obtain profits.

But at this time in the Ming Dynasty, if you have money, you may not be able to make money from money.

After all, there are not many people who know how to play financial games, and most people borrow some money just to tide over the immediate difficulties.

Speaking of lending, most of them are done by ordinary people, and the rich really don't touch it.

And if you want to start a loan business, it can't be done overnight.

According to Zhu Qi's current estimation, I am afraid that he will have to wait two or three years before launching the loan business.

Moreover, the lending business cannot be promoted across the country from the very beginning.

At least it has to be piloted in some provincial capital cities like Yingtianfu.

Only then can it be promoted gradually, and the lending business must not go to towns.

It must be fixed within the scope of certain large cities, because in the big cities, the Ming Dynasty's court has the strongest control over these places.

But when it comes to county towns, or even villages, the control power is not as good as in cities.

Grassroots officials will have a lot of real power, and they may use the banking system to benefit themselves, and of course the people who will be harmed will eventually be ordinary people.

As the saying goes, you can do whatever you can, and since you already know the Ming Dynasty's government, the strength of local control is only in the big cities.

The control power of towns and villages will be weakened a lot. If you still go to put banks in those grassroots places, what is it if it is not harming the people?

While conceiving these things, Zhu Qi also had to write all these ideas into a plan and hand it over to Zhu Yuanzhang.

It is convenient for future implementation, not only that, but also to train successors in the bank.

At least one must be able to understand the entire economic operation model like Zhu Qi, control the number of banknotes printed, absolutely not print more, and so on.

In addition, the bank is not only convenient for the people, the main purpose, Zhu Qi still wants to use banknotes and finance as a weapon to deal with the surrounding countries.

Bei Yuan was naturally the first one to deal with.

With the current economic size of Daming and Beiyuan, it is still easy to make some small moves.

Zhu Qi quickly acted.

(End of this chapter)