A Good Landlord in the Tang Dynasty: Emperor Yuan Cong

Chapter 365 Is it Bonds or Paper Money?
Morning today.

Huaiyu's class is very high. Although he is only a fourth-rank position in Yongzhou Zhizhong, he is a third-rank doctor of Jin Ziguanglu, not to mention that Yongzhou Mu is only an eight-year-old emperor's younger brother, and there is still a vacancy in Yongzhou.

Now the eighteen counties in Yongzhou will be led by Wu Huaiyu, with great power.

Of course, for the time being, Wu Huaiyu hasn't taken office yet, and he won't officially take office until after Zhengdan. Now he doesn't need to go to Yongzhou Yamen.

But he was not idle either, he also served as Minister of the Ministry of Punishment, Prince Xima, owner of Chongxian Hall and bachelor, and even inspected the rate of the prince's right guard.

The most important thing is that Wu Huaiyu has won the trust of the emperor, and he is still the doctor of the Six Doors Xun Xiansi.Originally the doctor was Zhang Liang, but now Zhang Liang was promoted to Guangluqing, and he was also the doctor of the Xing Xiansi, and the emperor asked Wu Huaiyu to also be the doctor, so they became the two in charge of the Xing Xiansi.

There are small meetings for major events, and there is no business at the conference.

The morning court is a bit boring, especially today is still November and a half, Shuowang court meeting, there are many court officials, and even the governors and governors from the place where the court gathers in Beijing have come, so there is no serious topic.

After some routine procedures, the early morning is over.

So many officials got up early in the dark, rushing on their way and queuing at the palace gate, but it ended in less than two quarters of an hour when they finally entered the palace. Even many low-ranking officials couldn't even enter the palace, just outside the palace. Standing in the square.

Quite frustrating.

But with so many people, it's unrealistic to discuss serious matters in the early court, because there are too many people talking.

At the end of the morning court, the servants came over and called some names, and the inner court discussed matters.

The seven prime ministers, and then some officials related to today's major issues, Wu Huaiyu was also named.

The treatment of the inner court is much better.

Not to mention the warmth in the hall, everyone has soft cushions and even tea and snacks.

It was also relatively relaxed when discussing matters, and there was no imperial servant and censor watching all the time.

Huaiyu looked at the snacks on the small table in front of him.

The small snacks provided today are oranges and crisp pears from Jiangnan Road. Huaiyu remembers that the crisp pears in the Wujia pear garden in the south of the city seem to have a bumper harvest this year. He also picked a lot of fresh fruits, and presented them to the palace and presented them to relatives and friends.

The crispy pear of the Wu family is a tribute, and there are others called Jiangjun pear.

Jiangnan oranges, Wujia pears, and purple sweet potatoes and corn.

But it seems that everyone still pays attention to etiquette, and no one sits there and eats indiscriminately regardless of their image.

My brother-in-law Ma Zhou is also in the palace. Although he is only a fifth-rank official, he is just like Zhongshu Sheren, and he is a confidential post. China will attend.

Wu Huaiyu was also in the front position during the court meeting.

The 20-year-old Jin Zizhong minister is the real Duke of the state, and he is quite conspicuous in the palace. Many people don't even understand why Wu Huaiyu is able to rise so smoothly, and they don't think he has made many amazing achievements, but the emperor treats him all the time. Reward and reward.

But those prime ministers, whether it is Fang Du or the newly worshiped prime minister Wang Gui Wen Yanbo Qin Qiong, actually know something about the existence of the Criminal and Xiansi. This secret organization is expanding rapidly now. Advise the emperor, feel that there is no need to set up such a secret intelligence agency, and hope that the emperor will stop.

But Li Shimin didn't listen to Wei Zheng, but increased the experience and personnel of the six sects.

The court meeting is still quite efficient than the early court.

The monarch and ministers discussed each matter. He observed it. The main procedure was that it might have been put on the agenda a few days ago and made relevant preparations. The officials in charge of relevant issues today will report directly to the emperor and the prime ministers, and then have to attach solution.

At this time, the prime ministers also had a plan in advance, discussed it directly, made suggestions for the emperor, and the emperor made decisions.

Then this matter will be passed, and after the court meeting is over, the three provinces will issue relevant documents and go through the process. For example, the Ministry of Zhongshu Province will draft an edict, the next province will review it, and finally hand it over to the Minister of Ministers for implementation, because the emperor and the prime minister have reached a consensus during the court meeting. , so there is no need for the three provinces to argue with each other, but just go through the process at that time.

In fact, Li Shimin's current method of court discussion is a disguised form of encroaching on the power of some prime ministers.

For example, the current way of discussing matters is originally the model of the prime ministers of the political affairs hall, where the prime ministers of the three provinces gather together to discuss matters, so that after reaching an agreement, there will be no more things that cannot be passed by the three provinces soon.

Of course, Li Shimin is young. The 30-year-old emperor has only been on the throne for more than a year. It is the time when he is most energetic and aggressive. He cannot leave everything to the prime ministers.

The efficiency of court discussions is very high, and the results of various issues are quickly reached, and there is no such situation as quarreling and arguing.

Because the emperor also formulated a set of rules of procedure for the court meeting. For example, there is a time limit for everything from reporting to discussion, and no ramblings or random attacks are allowed.

Relevant officials report that you not only have to report the problem, but also have to bring a solution, and may even have to prepare a backup plan, and the prime ministers have to make plans in advance and draw up disposal suggestions.

It is not allowed to publish content that is not related to the topic.

It's a matter of fact.

Previously, the two prime ministers, Xiao Yu and Chen Shuda, attacked each other when discussing matters in front of the emperor.

Later, Xiao Yu and Feng Deyi's two servants fought with each other when they played in front of the emperor.

There are two things that have been on the agenda for a long time today. One is the severe drought in the Kanto region this year, and many prefectures and counties were affected. Although the imperial court issued an order in time to exempt the rent transfer in the Kanto region this year, many people suffered from food shortages, and the local government could not provide relief. , As a result, many people in the Guandong fled to Guanzhong or Jianghuai, Shannan and other places to beg for food.

It even caused refugees to gather as bandits in some places in the Kanto region.

Now the emperor asked for a reliable and useful plan. Some officials suggested that they should stop the victims and prevent them from leaving the country. Local officials must control the victims under their jurisdiction in their hometowns and not allow them to move across counties and townships.

Let them wait for food relief.

However, some officials believed that the disaster was serious this time. If the people were allowed to wait for relief at home, they might not be able to get relief. Many people would definitely starve to death, and there would inevitably be more hungry people fleeing for their lives, becoming thieves, etc.So instead of waiting for food, people get food. Where there is food, let the victims go first. This can improve the relief efficiency and save costs.

They even suggested that for now, everything should focus on disaster relief and help the people, and other things should not be so strict. For example, when people go to other places, local officials should fully cooperate, guide the way and even provide dry food, and local governments should not stop these disaster victims.

There are even local landlords and powerful people who want to recruit these refugees as tenants, so they should be allowed for the time being, and they will make adjustments after the disaster is over.

Wu Huaiyu quite agrees with the latter policy.

After all, people-oriented.

The disaster is only temporary, and the key is to keep the talents.

In order to relieve the disaster, some officials proposed to borrow food and money from large households. In fact, this is a disguised form of taxation on large households. This kind of borrowing is generally not repaid.

This proposal has been opposed by many officials, who believe that there is no basis for it. This is a forced apportionment, which will inevitably disturb and harm the people.

I didn't intend to repay it at all, but if you borrow it, you are playing hooligans. If the court loses its credit, there will be big troubles.

Some officials also suggested that they should not talk about borrowing, but directly issue an imperial edict to directly levy a sum of money and food from large households and merchants.

This is even more ruthless, not to fight under the pretense, but to rob directly.

"Wu Huaiyu, you are the central government of Yongzhou. Now the eighteen counties of Yongzhou are under your rule. Now a large number of disaster victims from the Kanto have flooded into Gyeonggi. Do you have any good suggestions for dealing with it?"

The emperor named Wu Huaiyu.

Everyone else was discussing things, but Wu Huaiyu was there peeling and eating oranges, eating one after another, which was too conspicuous.

"Your Majesty, I think that the key to Yongzhou's response to the victims is two points. One is to have food, and the other is how to manage the relief. As long as the victims have something to eat, they will be able to settle down. However, if too many refugees gather, if they are not managed well, It is indeed easy to make troubles, so I think it can be done in two steps.

"First, in the name of Yongzhou Yamen, issue bonds to princes and nobles in Gyeonggi or wealthy merchants, agree on interest, give bills, and cash out the principal and interest together at maturity."

"Use the money borrowed from issuing bonds to buy food from the market and the nobles."

"Using the victims gathered now, carry out some civil engineering projects in Guanzhong, such as clearing and dredging the Zhengbai Canal, clearing the Chang'an Canal, and building bridges and paving roads, etc., using work as relief, the victims do work, and distribute food wages,"

Huaiyu's several-step plan is indeed quite realistic.

Aim at the problem, solve the problem, and have something to say.

Although this bond is quite new, it sounds like that.

"Tell me more about this bond." Li Shimin became interested.

In fact, everyone has been arguing for a long time just now. Li Shimin is inclined to borrow money, and directly raising taxes on big households is obviously a big problem.

But borrowing food is not easy to borrow, because everyone thinks that you just have to borrow but not repay.

"Your Majesty, the key is that this bond should be negotiable and transferable, and can be unnamed. It can be redeemed upon maturity by presenting the bond, and the bond and interest agreed on the face of the bond must be honored, and it must be guaranteed that the court can honor the bond upon maturity."

Huaiyu asked for a pen and paper, cut a piece of rice paper into many palm-sized pieces, and then wrote on it with a pen.

There are several denominations, such as [-]-wen, [-]-wen, [-]-wen, and [-]-wen, and you can also agree on a three-year, two-year, one-year term, etc. The interest also ranges from six cents to two cents per year.

The lowest one-year interest rate is only 20.00%, which is indeed relatively low compared to the annual interest rate of at least [-]% for public money lending.

But Wu Huaiyu told the emperor that this kind of bond can be circulated, that is, the court not only promises to pay the principal and interest when it is due, but even when it is not due, it can also use the bond to offset such as agency money, discount money, etc., and use this money Buy grain, cloth, etc. in the official warehouse.

Instead of forcing apportionment, let the government and the people buy it voluntarily. For example, if you buy a ten thousand yuan bond, it can be ten bonds of one thousand yuan, or one hundred bonds of one hundred yuan. These bonds are different from IOUs. Don't remember the name, no matter who holds the bond, the court will redeem it by ticket.

Of course, you can also circulate it before it expires, such as using it to buy materials for official warehouses, or to offset tax and service money, etc. Before it expires, you can also exchange it according to its face value and the actual existing interest.

As long as the imperial court can find a way to guarantee the credit of this bond, then this can become a financial product. For some ordinary businessmen who have some spare money but not much, buying some bonds will also have interest. After all, not everyone has Conditions to lend and collect interest, lending must also have the strength to ensure that the principal will not be damaged.

Li Shimin held the slips of paper, "Why do they have different denominations, or even different deadlines?"

"It's also possible to have one denomination, one term, and one interest rate. It's not important. Only one kind of bond can reduce some costs, but it's also convenient to have different bonds."

Those pieces of paper were passed from the emperor to the hands of the seven prime ministers. After the prime ministers saw it, they passed it on to Dai Zhou, Minister of the Ministry of Civil Affairs, Yang Shidao, Minister of the Ministry of Officials, and Li Jing, Minister of the Ministry of Punishment.
After turning around, everyone was amazed by this small piece of paper. After all, it is common for the imperial court to borrow money from the people due to wars, disasters and other reasons. Bonds, this is the first time.

Bearer bonds have the problem of anti-counterfeiting. Of course, it is not easy to forge them.

"This piece of paper is one thousand Wen?" Wei Zheng asked Huaiyu holding a piece of rice paper with one thousand Wen written on it.

Huaiyu smiled, "This paper is for three years, with an annual interest rate of six cents, and the total interest rate for three years is [-] yuan, so after three years, this piece of paper is actually worth [-] yuan."

Wei Zheng took a deep breath, two thousand eight hundred coins, if it were copper coins, it would weigh more than seventeen catties, but now it is just a thin piece of paper.

Even if it is 12 yuan of silk, it is fourteen pieces, and one piece weighs [-] taels, which is about ten catties.

Looking at the thin piece of paper, Wei Zheng always felt that something was wrong, but he couldn't tell for a while.

He has a strong feeling that this thing can't be handled, something will happen.

After all, even if the imperial court cast big springs and heavy gold in the past, at most one would be worth ten or twenty, but it was still copper coins. This piece of paper was written on and stamped with some anti-counterfeiting marks, and it turned out to be worth [-] yuan?

And a bond of one hundred cents, almost the same size, is only worth 280 cents?

"Your Majesty, I think it's wrong to borrow money from the people, and it's even more wrong to use paper coupons as money," Wei Zheng resolutely objected.

"Wei Xiang, how do you think the court will help the people and overcome the current difficulties?"

"Please ask the sage to contribute the internal money, and let the nobles take the lead in donating, and the officials will also donate some salaries to tide over the difficulties together."

Wei Zheng's words made Li Shimin sigh, the emperor pays, the nobles pay, and the officials donate their salaries. It sounds nice, but it's not realistic at all.

"Your Majesty, this is just a bond. What's wrong with the imperial court borrowing from the people to tide over the difficulties and repay the principal and interest later?

Although this is a piece of paper, it is not paper money, it is just an anonymous certificate, Wei Zheng need not be so afraid of it. "

(End of this chapter)