Daming: Old Zhu, we agreed not to rush!

Chapter 335 Is the value of treasure banknotes really set by the court?
"I understand Mr. Su's meaning. This big Ming treasure has to be done, so we should do it as soon as possible!"

Zhu Xi said excitedly to Su Jing.

Su Jing talked about the benefits of a series of banknotes, and everyone can tell that banknotes are good things.

Su Jing smiled without saying a word, and did not answer.

"Master Su, it's impossible for banknotes to have only advantages and no disadvantages."

Zhu Wei said to Su Jing that he has been doing experiments on pea breeding recently, and he deeply felt the difficulties in the experiment process.

There is no one way to solve all problems.

"Indeed, opposition and unity are the basic attributes of things. No matter how good paper money is, there must be disadvantages. This is something that cannot be changed."

Zhu Biao nodded in agreement.

In terms of dialectical materialism, Zhu Biao has experienced a lot these days.

Many things, viewed from the perspective of the unity of opposites, can clearly discover and solve all problems.

"That's right, King Wu and the crown prince are right. There is nothing perfect in this world. No matter how good a thing is, it must have its bad side. Now I want you to think about the shortcomings of paper money."

Su Jing smiled and said to everyone.

"Berwin, tell me, what's wrong with this banknote?"

As soon as Su Jing's words fell, Zhu Yuanzhang immediately asked Liu Bowen beside him.

Now the preparations for the printing of Daming Banknotes are in full swing. If there is a problem, it is now found that it is the best, and there is still a chance to correct it.

After thinking briefly, Liu Bowen replied: "Your Majesty, the most obvious defect of this banknote is the problem of counterfeiting. Currencies such as gold and silver, even if they are not minted by the government, as long as they are gold and silver, they are valuable and can be used as money." As for banknotes, if there are counterfeiters who use superb means to counterfeit them, the useless waste paper can also be turned into coins. Once there are too many fake banknotes, the real banknotes will become worthless. After all, no one wants to cheated."

"Ah."

Zhu Yuanzhang nodded: "I have also thought about this matter, so I have put a lot of effort into the anti-counterfeiting of banknotes. I especially found someone to study the anti-counterfeiting technology of banknotes in the Song and Yuan dynasties, from paper to ink printing. All of them have been specially processed, and it is not that simple to make counterfeit money.”

As a major national financial matter, Zhu Yuanzhang is really concerned about the matter of Daming treasures.

He personally asked questions about craftsmanship.

Liu Bowen continued: "Your Majesty is thoughtful, and he should have already had a countermeasure against the damage and exchange of treasure notes."

Zhu Yuanzhang smiled and said: "Bowen, you still understand me. This treasure banknote is different from gold and silver. No matter how it is made, it is still easy to be damaged. How to exchange broken treasure banknotes? I have considered what kind of parts can be replaced.”

Lao Zhu was very excited and explained to Liu Bowen that, to be fair, treasure banknotes began to appear in the Northern Song Dynasty. After hundreds of years of development in the Song and Yuan dynasties, both the printing techniques and the rules of exchange have been developed. relatively mature system.

It is naturally much easier to improve on the achievements of the predecessors.

"Your Majesty is wise!"

Liu Bowen immediately praised: "However, I think that these are all technical matters, and the real problem with banknotes has to be in the way."

"Skill? Tao?"

Old Zhu was taken aback for a moment, but then he came to his senses and asked, "Berwen, what do you think is the biggest problem with banknotes?"

The so-called technique refers to the means, and the way is the way and the truth. The means are only auxiliary. Only when the truth is right can things succeed.

Liu Bowen replied: "Your Majesty, it is not difficult to make banknotes. The difficult thing is to exchange banknotes. Banknotes are issued by the imperial court. Naturally, the imperial court is responsible for exchanging them. The exchange rate must be set by the imperial court. It is only the exchange rate set by the imperial court." Ratio, how can it be recognized by the people, gold, silver and precious banknotes, compared to the people, they definitely prefer gold and silver."

Liu Bowen is Liu Bowen, and he also has his own unique understanding of banknotes.

"Berwin, I also have something about the exchange..."

Just as Lao Zhu was about to talk to Liu Bowen, the teaching in the study began to resume.

"Mr. Su, I know that banknotes are not as stable as gold and silver, they are easily damaged, and they will cause problems if they are stored for a long time."

Zhu Xi spoke first.

Before Su Jing could answer, Zhu Yan had already opened his mouth and said, "Second brother, there are many kinds of paper nowadays, for example, the high-grade paper 'Chu skin' was used for the treasure banknotes of the Yuan Dynasty, so the treasure banknotes were also called Chu coins or Chu coins. Although money is not as stable and strong as gold and silver, it will not be easily damaged."

Zhu Xun was taken aback for a moment, although he has changed a lot recently and read a lot more, but there is still a gap between him and someone like Zhu Xun who has been studying hard all the time.

Zhu Di said: "Mr. Su, banknotes are not gold and silver. Even if they are gold and silver, even if they are fake, there will be more counterfeit banknotes. This is a major disadvantage of banknotes."

Su Jing nodded and said: "That's right, banknote counterfeiting is indeed a big problem, even more serious than gold and silver counterfeiting."

Zhu Biao pondered for a while and said: "Master Su, you just said that gold and silver minted by officials can be recognized by the people. In addition to the value of gold and silver itself, there is also the trust in the court. Paper money is not gold and silver. Its value should be It all comes from the imperial court. This is an advantage at first glance, but it is actually a huge disadvantage. Once the imperial court loses the trust of the people, the banknotes will become waste paper immediately."

"After all, gold and silver can be hoarded and can be spent at any time, but paper currency, if it cannot be spent, will be a piece of waste paper no matter how long it is stored."

Zhu Biao's words stunned his younger brothers, even the old Zhu and Liu Bowen outside the door were stunned.

That's right, the value of banknotes does not come from the currency itself. How much is a piece of paper worth?It's not that there are some rare and famous paintings painted on it.

After all, it was the imperial court who said that banknotes were valuable, and only banknotes were valuable.

But the fundamental reason for the court to say this is the authority of the court itself, and the authority of the court comes from the people.

"The prince is really smart. This point is absolutely correct. The old minister is not as good as the prince."

Liu Bowen praised Zhu Yuanzhang.

Zhu Yuanzhang hummed and said, "Indeed, what Biao'er said makes sense."

Now Lao Zhu couldn't help but think about the necessity of issuing precious banknotes now.

Su Jing looked at Zhu Biao, his eyes could not stop admiring, he smiled and said: "The crown prince said very well, the value of paper money does not come from the paper money itself, this is what I just said, why is it a one-time process from coinage to paper money?" The cause of the giant leap."

"The value of banknotes depends on an authoritative issuing agency. Once there is a problem with the authority of this agency, the banknotes will depreciate rapidly."

"This is an advantage, but also a disadvantage."

Su Jing paused, and continued: "As for what you said earlier that banknotes are easy to be damaged and easily counterfeited, these are indeed inherent in banknotes, and at the same time, they are constantly being solved or alleviated in the process of continuous technological improvement."

"Only the source of value of banknotes cannot be changed, and it is also the most important issue that needs attention."

Zhu Xi raised his hand and said: "Mr. Su, what will happen to the banknotes? The value of the banknotes comes from the imperial court. Our Ming Dynasty is not just established, it is a good time, and it is safe and sound. Does Mr. Su mean that the Ming Dynasty will Is there a problem?"

"Second brother is right. This Ming Dynasty has just been established, and I have no opponent at all. Now, what problems can there be!"

Zhu Yuanzhang said rather domineeringly.

He understands what Su Jing said, but he is more confident in the current situation of Daming.

Even if the current Daming has internal and external troubles, they are all minor problems, and they will not shake the foundation of Daming at all, so there is no need to worry about it.

Su Jing smiled and said: "King Qin, Daming's position is naturally unshakable, but when it comes to the matter of banknotes, that's not necessarily the case."

"Please ask Mr. Su to clarify!"

Zhu Xi immediately cupped his hands.

Su Jing said: "Okay, now I will continue to ask you a question. Why do you think banknotes are issued? Is it just for convenience?"

This remark made Zhu Biao and the others in front of them confused. The benefits of banknotes were explained a lot. Isn't the most important thing is convenience.

Coins are too heavy, and in large transactions, money is too heavy to carry, which is why banknotes are produced.

Now why ask why banknotes are issued?
But since it is Su Jing's problem, they will think about it seriously.

"Berwin, what do you want to say about this boy Su Jing? Isn't the banknote issued for convenience?"

Zhu Yuanzhang also asked Liu Bowen a little puzzled.

Liu Bowen was silent and did not answer.

Old Zhu frowned and said, "Bowen, I'm talking to you, what's your opinion? It's not like you don't have an opinion."

Only then did Liu Bowen open his mouth and said: "That's not true. The old minister just thinks that His Majesty knows this matter best, so why bother to ask the old minister."

Ok?
Zhu Yuanzhang said with surprise in his eyes: "Berwen, what do you mean by that, don't play riddles with me."

Liu Bowen said: "Your Majesty, you are the one who decides to issue this treasure note. Shouldn't you be the clearest why the treasure note is issued?"

Now that Daming wants to issue banknotes, it is actually Lao Zhu's personal idea.

He is the emperor, and only when he nods can this Ming Dynasty banknote be printed.

Even if it wasn't his idea, others had to explain the pros and cons, and Lao Zhu could decide to implement it after thinking about it.

Therefore, no matter how Zhu Yuanzhang nodded to issue Daming Banknotes, he should be clear about the reason.

"Why do I issue treasure notes? Naturally, it is for convenience."

Zhu Yuanzhang said without hesitation: "Precious banknotes are light on the one hand. In addition, Ming's expenditures are increasing day by day. If there are precious banknotes, it will naturally relieve part of the financial pressure. Printing precious banknotes is always easier than mining gold and silver mines. "

Liu Bowen was silent, but Lao Zhu also understood.

At this time, in the study.

Zhu Biao said: "Master Su, the students think that the issuance of this precious banknote may also be for the purpose of alleviating the financial pressure of the Ming Dynasty. After all, now that the Ming Dynasty pays light taxes and often needs the Northern Expedition, the consumption of money and food is huge. With the treasure banknote, this It will be easier financially.”

After all, Zhu Biao is the prince, and he knows much more about Daming's situation than his younger brothers.

He can also guess some of Zhu Yuanzhang's intentions to issue treasure notes.

Su Jing looked at Zhu Biao and said, "What the crown prince said makes sense. The current Ming Dynasty has a strong national power, but its financial resources are too stretched to say the least, but they are definitely not rich."

"No way, your royal father, that is, His Majesty, is still caring for the people after all. He doesn't pay high taxes to farmers, just to recuperate."

"Unfortunately, Daming now needs to spend a lot of money. If you have Daming treasures, you can print more money when you are short of money. Then the financial problem will naturally be alleviated."

Su Jing's analysis immediately made the several princes present feel that Baochao is really good, and they really never thought about the current situation of Daming.

"Su Jing, this kid, still understands me very well, not bad."

Zhu Yuanzhang nodded slightly, quite satisfied with Su Jing's remarks.

It is quite rare to hear words of praise from Su Jing's mouth.

Liu Bowen's expression on the side was not good, and he said softly: "Your Majesty, these treasures are not gold and silver. The more they are printed, the more they will consume the reputation of the Ming court. I think this is not advisable."

Liu Bowen didn't know much about the principles of economics, but Liu Bowen instinctively felt that something was wrong with printing money when there was no money.

Zhu Yuanzhang glanced at Liu Bowen and said: "Bowen, don't worry, I won't print this precious banknote at will. It's not a national event, and I won't print it lightly."

Zhu Yuanzhang's guarantee seemed to be useful, but Liu Bowen always felt that something was wrong, but he couldn't tell.

Liu Bowen tilted his ears and brought them closer. He felt that Su Jing should know.

"Since it's so good, it should be as soon as possible!"

Zhu Xi said excitedly: "Our Daming is so short of money, it's great to have precious money!"

Since the last soap business, Zhu Xi has become interested in business, learned a lot, and is eager to practice it.

The promotion of paper money to commerce made him support the issuance of precious banknotes.

Su Jing shook his head and said: "King Qin, I haven't finished my lecture yet. Baochao is good, but how do you think the value of Baochao is determined?"

Zhu Yu immediately replied: "Naturally, it is the gold and silver exchange ratio set by the imperial court, or the value stated on the treasure notes."

Zhu Xi answered decisively, and he really did think so.

"Is it really?"

Su Jing said with a smile: "Do you really think that the value of the treasure banknotes is determined by the court?"

This……

Everyone in the study was stunned for a moment, they didn't quite understand the meaning of Su Jing's words.

Since the treasure banknotes are printed by the imperial court, the value is naturally set by the imperial court. Is there any problem with this?

Not only the people in the study, but Lao Zhu outside the study were also lost in thought.

"Berwin, do you understand what Su Jing said?"

Lao Zhu couldn't figure it out, so he directly asked Liu Bowen for help.

Liu Bowen also shook his head and said: "Reporting to Your Majesty, I don't quite understand Mr. Su's meaning. Your Majesty should support Mr. Su's answer."

(End of this chapter)