Daming: Old Zhu, we agreed not to rush!

Chapter 334 The value of currency does not only come from its own value

"Things are rare and expensive, and only expensive things can become currency and a unit of account."

Su Jing said lightly: "But expensive is only one of the factors. In the history of currency development, there were also precious materials other than gold and silver used as currency, but they were eliminated in the end, so there are other reasons."

Zhu Wei raised his hand and said: "Mr. Su has mentioned the four stages of currency development just now. Currency substitutes such as shell cloth and silk are easily damaged and difficult to preserve. The characteristic of gold and silver is that they are easy to preserve and cannot be damaged. .”

"Yes, keep the gold and silver, even after a few years."

Zhu Xi agreed.

They are all the sons of Zhu Yuanzhang, and they have seen a lot of gold, silver and jewelry since childhood.

"Yes, King Jin listened very carefully. Gold and silver are stable in nature, and they are not easy to change after long-term storage. As a currency, stability is a very important characteristic."

Su Jing nodded, very satisfied with Zhu's answer, even Zhu's thinking was much quicker than before.

Such a class is interesting to teach.

"Then, apart from high value and stable properties, what other qualities do gold and silver have that allow them to be used as currency? Can you think about it again?"

Su Jing continued to ask.

This stumped Zhu Di and the others, and they all couldn't understand it.

"Stupid!"

Instead, Old Zhu outside scolded softly: "I haven't seen this yet. Gold and silver can be minted. Money must have uniform specifications so that it can be used conveniently."

I have to say that Lao Zhu, the emperor, is really learning all the time.

"Students don't know, please ask Master Su (Mr.) to clarify."

Several people asked Su Jing for advice.

Su Jing smiled and said: "The currencies you see, whether they are gold, silver or copper coins, are all made into a uniform appearance according to their weight or shape. Isn't this an important feature of gold and silver being regarded as currency?"

"That's it, Mr. Su, I understand that money must be standardized to be useful. It's like Qin Shihuang immediately unified weights and measures after sweeping the six kingdoms to unify the world. Currency is something that everyone in the world needs to use. The standard Naturally, it is better to unify, so that whether it is the capital of Ming Dynasty or in the frontier, the money can be used in common use."

Zhu Di said excitedly that he likes marching and fighting, and during marching and fighting, he knows a lot about various regulations, so he naturally reacted to them.

Su Jing nodded and said: "King Yan is right. Money is only useful when it is of uniform specifications. As a general equivalent, currency has general characteristics. Gold and silver are of high value, stable in nature, and can be cast into uniform specifications. Naturally, it became the currency of choice.”

"However, because the amount of gold and silver is too scarce and the value is too high, it is not so convenient in the exchange of some low-priced commodities, so there will also be currencies such as copper coins and iron coins, but they can all be called for coinage."

"At the stage of minting coins, a very interesting phenomenon will appear. I don't know if you have noticed it."

"For example, a silver ingot of 50 taels cast by the government must have been weighed at 50 taels when it first came out of the furnace. Some slight loss, if the time is longer, the loss will be more, but usually, when this silver ingot is traded, it is still 50 taels, and the value will not shrink, do you know why?"

Another question, after Su Jing finished speaking, he took a sip of water calmly, and then said: "Think slowly, we are not in a hurry for this class."

The few people sitting nodded and began to think seriously.

"It's all 50 taels of silver ingots. It must be 50 taels. Why do you need to say that? You, Su Jing, are trying to make things difficult for others."

Old Zhu muttered softly, as if he was dissatisfied with Su Jing's lecture.

At this time, outside the prince's mansion, Liu Bowen hurried over.

That's right, it was Lao Zhu who called him here.

Su Jing mentioned Jiaozi in his lecture, and Lao Zhu originally wanted to have someone look it up, but on second thought, it would be most convenient to go directly to Liu Bowen.

After all, Liu Bowen is knowledgeable and talented, and the doll search tool is much faster than looking up books.

And Liu Bowen has always been very interested in Su Jing's class.

Soon, Liu Bowen arrived next to Lao Zhu, that is, outside the prince's study.

"The minister bows to His Majesty."

Liu Bowen still didn't know anything about it, but he was suddenly summoned, and he was still in the Prince's Mansion, so he was really confused.

"Keep your voice down, Berwyn!"

Lao Zhu immediately hissed at Liu Bowen.

"Yes Yes!"

Liu Bowen nodded immediately, and after a while, he had a rough idea of ​​the current situation.

Su Jing was teaching the crown prince and other feudal lords, Lao Zhu was eavesdropping, and now he needs to give some answers.

"The minister understands, and the minister must know everything."

Liu Bowen immediately assured Zhu Yuanzhang.

"Berwin, do you know what Jiaozi is?"

Zhu Yuanzhang asked Liu Bowen directly, now is Su Jing's rest time, so hurry up.

"Jiaozi?"

Liu Bowen was in a daze, then shook his head and said, "Please speak clearly, Your Majesty."

Zhu Yuanzhang seemed a little dissatisfied and said: "It is the private banknotes made by local merchants in Sichuan and Chongqing in the Northern Song Dynasty. Later, an official named Zhang Yong turned from the private to the imperial court."

As soon as the name of the person was mentioned, Liu Bowen immediately reacted: "Your Majesty is talking about Zhang Yong, the Minister of Rites during the Song Zhenzong period. This minister knows something about him. He has indeed done similar things."

"He used to be the magistrate of Yizhou. This Jiaozi should be something he let 16 wealthy merchants run at that time. Later, the Northern Song Dynasty court set up Jiaozi in Yizhou. It's probably like this."

After listening to Liu Bowen's words, Old Zhu frowned: "Su Jing, you know a lot."

"Your Majesty, Mr. Su is talking about Jiaozi now?"

Liu Bowen asked curiously.

Zhu Yuanzhang nodded and said, "It's about the same. Anyway, it's about money for a long time. You will understand after listening for a while."

Old Zhu knew Liu Bowen's mind, so he didn't intend to explain too much.

Anyway, everyone is here, so you will understand after listening.

"Thank you, Your Majesty."

Liu Bowen immediately bowed to Zhu Yuanzhang and thanked him.

Liu Bowen was really happy to hear Su Jing's class.

Zhu Yuanzhang immediately booed, "Hush your voice."

Liu Bowen hurriedly shut up and nodded, and said nothing more.

At this moment, Su Jing breathed a sigh of relief, and looked at Zhu Biao and the others with a smile, "How about it, do you have any ideas?"

Zhu Biao raised his hand and said, "Master Su, the students thought that this silver was actually made to order, so the value was fixed when it was cast, so even if there is a slight wear and tear, everyone will recognize it."

Zhu Xi said: "Mr. Su, I think everyone is just looking for convenience. The 50 taels of silver is a little less, and it will be troublesome to settle accounts. It's better to use it as 50 taels for convenience."

Zhu Yan said: "Mr. Su, I thought it was a convention, and everyone is used to it."

……

Several people finished their statements respectively.

Su Jing nodded slightly and said: "What you said is all reasonable, but you didn't talk about the core point. For example, everyone accepts the customization that the prince said. Why do you accept it? You may not know the convenience of the picture that King Qin said. There is also privately minted silver, but private silver has to be weighed to calculate its value, even if it is a little less, it is still less, but it is not as convenient as official silver."

At this time Zhu Di raised his hand, and Su Jing immediately signaled him to speak.

Zhu Di said: "Mr. Su, I understand, because the official silver is cast by the imperial court, so the common people recognize it."

"Good! King Yan said very well!"

Su Jing said: "Official silver is cast by the imperial court. Whether it is the Song Dynasty or the Yuan Dynasty, the casting of official silver is quite strict. Every batch of official silver leaves the warehouse. If there is a problem with the job records of supervisors and the like, they will be investigated, and this is the root of the people's identification."

"As for private silver, neither the quality nor the appearance can be guaranteed, and everyone naturally cannot believe it. In order to identify private silver, common people have various means, from observing silver to observing texture, pores, and even calculating the density of silver to determine The fineness of silver and so on."

"At the end of the day, it is the imperial court that can still be recognized by the people with slight damage to the official bank. This extends the concept that the value of currency is not only derived from the currency itself, but also determined by the organization or institution that issued the currency. .”

"In Daming, it is the court of Daming who decides. Now let's go back to the topic at the beginning, which is the treasure banknotes that Daming will issue soon."

"You should be very clear about the raw materials for making treasure notes."

Su Jing paused for a moment, and then continued: "To put it bluntly, a banknote is a kind of paper with anti-counterfeit marks and denominations printed on it. Now, can you tell me why paper can become currency?"

"why?"

Old Zhu outside said subconsciously.

Liu Bowen replied: "I think that treasure banknotes can become currency, naturally because they are issued by the Ming court and represent the Ming court. This is a guarantee of credibility. There is a Ming Dynasty before there are Daming banknotes."

Zhu Yuanzhang nodded slightly and said: "That's right, that's what Su Jing wanted to say, but although this matter makes sense, it should be like this. It should be true that I want to issue treasure notes."

"Your Majesty, did Mr. Su and His Majesty mention the pros and cons of issuing treasure notes?"

Liu Bowen immediately sensed something was wrong, and immediately asked Zhu Yuanzhang.

Zhu Yuanzhang replied: "I mentioned it a few times, but I didn't say much. I just said that I still need to be cautious about the issue of treasure banknotes. Su Jing didn't mention how to be cautious."

Liu Bowen's face darkened and he said: "Your Majesty, Mr. Su's words must be reasonable. I think that the matter of the treasure banknotes can be postponed."

"Ok?"

Lao Zhu's complexion changed, and he looked at Liu Bowen and said, "Liu Bowen, do you know that I have been thinking about the issue of treasure banknotes for a long time, and now with just a few words, you let me listen to Su Jing and postpone it? Are you a little bit concerned?" I think Su Jing is too high."

Liu Bowen replied: "Your Majesty, I trust Mr. Su, and Mr. Su never targets the target indiscriminately. Perhaps after listening to Mr. Su's lecture today, His Majesty and I may understand why."

Now Liu Bowen's trust in Su Jing is completely unconditional.

Once the wise man is conquered, the trust is not shaken at all.

"Humph."

Old Zhu snorted softly and said, "Then I really want to listen to see if it is as you said."

Inside the study.

"Mr. Su, isn't it a reason why precious banknotes can become currency, because it is issued by the imperial court, and the people trust the imperial court, so the paper becomes money."

Zhu Xi said with a smile.

Su Jing nodded and said: "King Qin's thinking is becoming more and more agile. The people trust the court, and only then can they trust treasures. This is not bad."

"Let me extend it to a conclusion. The common people trust the issuer of the banknotes, which turns the paper into money, just like when Jiaozi first appeared, it was only produced by mutual trust between businessmen."

"The core is trust! Of course, there are many sources of this trust. It may be a conflict of interests between businessmen, but it is a proof of strength when it comes to the court. I won't expand too much."

Being praised by Su Jing, Zhu Xi was very happy, and the smile on his face appeared unconsciously.

"Mr. Su, is there any problem with the issuance of Daming Treasure Banknotes? Is the current Daming court not enough for the people to trust?"

Zhu Di asked Su Jing.

Su Jing looked at Zhu Di, and said with a smile: "Why did His Highness King Yan say that? When did I say that there was a problem with the issuance of treasure notes?"

Zhu Di replied: "I just think that Mr. Su said so much to point out the problem of the issuance of Daming Banknotes. I don't know why."

What a great intuition!
Su Jing sighed in his heart, and said calmly: "Whether there is a problem, you have to think for yourself. Let's continue to talk about the issue of paper money."

"In fact, from coinage to banknotes, it can be called a leap, a major leap, and the significance is so great that I can't describe it in words."

"Compared to metal coins, banknotes are lighter. After being circulated on a large scale, they can promote the circulation of commodities and greatly facilitate the development of commercial activities, thereby promoting economic development, enhancing national strength, and improving people's living standards, etc."

……

When it comes to the benefits of banknotes, Su Jing didn't stop for a while, talking non-stop.

Zhu Biao and the others listened carefully and recorded.

The old Zhu outside couldn't help but said: "Obviously Su Jing, this kid also knows the benefits of banknotes, and he even gave me eye drops. I really don't know what to think!"

"Originally, I didn't think about making any treasure banknotes so early. Didn't I consider that treasure banknotes can promote business and improve economic development?"

Listening to Zhu Yuanzhang's complaints, Liu Bowen didn't say a word.

But he also understood in his heart that Zhu Yuanzhang really heard the questions of Ming Dynasty that Su Jing said before.

The policy of emphasizing agriculture remains the same, but there is less resistance to commercial activities than before.

At the same time, the economic base determines the superstructure must also be kept in mind, and the issuance of treasure banknotes is to promote economic development.

Now Zhu Yuanzhang's trust in Su Jing is no longer at 01:30.

(End of this chapter)