A Millennium Aristocratic Family Starting from the Shang Dynasty

Chapter 436 Bad money drives out good money?silver coin economy
When distributing monthly stipends, Wang Xin gave the court officials two choices. One was to continue distributing monthly stipends in copper coins, materials, etc., and the other was to distribute monthly stipends in imperial silver coins.

Contrary to expectations, all court officials chose to use "imperial silver coins" to distribute their salaries, and everyone in the court was happy to accept it.

On the other side, more than 2 'imperial silver coins' were being sent to the bank for exchange. In just one morning, wealthy businessmen who got the news came to exchange cart after cart of copper coins.

The people around them were very surprised to see what these merchants were doing, so some people came forward to ask, and the banker naturally told them. After seeing such beautifully crafted silver coins, many people immediately ran home to withdraw money and exchange them.

More than [-]% of the [-] imperial silver coins were exchanged for those businessmen, nobles, officials, and powerful men.One hundred thousand imperial silver coins flowed out.

Wang Xin was very happy to see that these imperial silver coins were so popular, so he asked the embroidery envoy to go to the market to observe to see if the imperial silver coins were useful for trade.

More than a dozen embroidery envoys went to the two cities of Luoyang to conduct unannounced visits. The markets in the east and west cities of Luoyang were prosperous, with a daily transaction volume of thousands of strings.

Soon, the embroidered clothes envoy came back to report.

"What, you said there is not a single 'imperial silver coin' circulating in the two cities?" Wang Xin's face suddenly changed.He subconsciously felt that these silver coins were not recognized.

"Yes, Your Majesty, I and other 13 people searched the two cities and found that no one used imperial silver coins for transactions." The embroiderer said respectfully.

"Are they unwilling to use imperial silver coins?" Wang Xin asked.

"Your Majesty, that's not the case. I went there and tried it. Those people were very willing to accept the silver coins, and were even willing to trade them at a [-]% premium, but they were unwilling to trade the imperial silver coins."

"These people think that the imperial silver coins are exquisite in shape, heavy in weight, and difficult to imitate. They all want to collect them and are unwilling to use them."

Wang Xin was stunned when he heard this. He did not expect that this would be the case.

In fact, it is not difficult to understand that those people have this idea. In the past, when there was bad money and good money, this would happen. The nobles and powerful people would keep the good money in their hands and spend the bad money, or even Even the common people will be like this.

To put it simply, bad money drives out good money. Of course, this is different from the previous method of minting bad money and using bad money to drive out good money.In the past, bad money was deliberately minted, but now good money is minted.

Wang Xin was only thinking about making the "Imperial Silver Coin" as perfect as possible, but he forgot that the "Imperial Silver Coin" was so good that the people who got it were unwilling to spend it.
In this situation, Wang Xin had no good solution.If people have this kind of behavior of collecting good coins, it means that they were deceived by bad coins in the past, and that's why they are like this.

If we want to solve this situation, we can only continue to issue more "imperial silver coins" to let the people believe that the imperial silver coins will become a common currency circulating in the market and give the people enough confidence. Only in this way will the people not No need to hide.

As for issuing an edict to force people to use imperial silver coins, they will only end up with feathers everywhere.Our ancestor King Wen once said, 'Economic matters should be solved by economic means. '

The use of administrative means to intervene in the economy is likely to have more serious consequences.

If the imperial court really decrees that people are not allowed to hide silver coins, they must trade them. In the end, it is very likely that the imperial silver coins will become more and more scarce. In the end, these imperial silver coins will probably become the collections of nobles, officials, and powerful people. "Instruct the craftsman to be the supervisor, make three more sets of machinery, increase the printing of silver coins, and purchase silver from various places to suppress the imperial silver coins." Wang Xin thought for a moment and ordered directly.

The imperial court's machinery for making coinage was not simple. The casting of silver coins was completely different from the previous casting of copper coins. The coinage machinery was very complicated. After a set of coinage machinery was proficient, two thousand coins could be minted in a day.

This set of coin-minting machinery also requires water conservancy, is inconvenient to install and move, and requires dozens of skilled craftsmen to operate it. However, even though it has many shortcomings, this set of coin-minting machinery is still the best of this era.

With Wang Xin's strong support, various resources were sent to the craftsmen for supervision. Under the leadership of several master craftsmen, several sets of coin minting machinery were quickly manufactured.

After a period of running-in, the coin-minting machinery was able to mint 1 silver coins a day, more than 30 silver coins a month, and 400 million a year. What's more, Wang Xin will definitely manufacture coin-minting machinery later.

Four million silver coins a year is just a conservative estimate. Four million silver coins a year are put into the market. Wang Xin does not believe that those nobles, powerful people, and officials can eat it. If they can eat it, then he will give another 400 million, or even 400 million and 400. Ten thousand.

The imperial court had stored 500 million silver collars, enough to mint 800 million silver coins, enough to last for several years.

Originally, the silver collars stored by the imperial court could only be kept for rewards or other purposes and could not be used as money. This time they were minted into silver coins, which was equivalent to a direct increase of more than 1000 million or even 2000 million coins.

Moreover, the profit from casting silver coins is also extremely high. One silver coin is cast at the ratio of nine silver to one copper.Moreover, a silver coin weighs nine qian, but its currency value is only one tael.

The calculation is that eight coins of silver are calculated as one tael, and the profit from minting is about [-]%.

Of course, if you include the purchase of silver materials with copper coins, the profit from silver coins will be even higher.And after seeing the scarcity of imperial silver coins, the price of silver coins increased.

Since the people, nobles, and powerful people all accepted the premium, Wang Xin naturally followed suit, thus gaining an additional [-]% profit.

In the end, the profit from casting a silver coin was at least [-]%.

With such a high profit, Wang Xin is not worried about those people hiding the silver coins. It will only take two or three years to release more than 3000 million imperial silver coins. Even if those people hide, how many can they hide?
While Wang Xin ordered the purchase of silver materials, he also ordered the silver mine supervisors in various places to continue mining silver mines.The imperial court has stored fifteen million taels of silver over the past decades, and a lot of this silver has been rewarded or sold, otherwise it would be even more.

Daqian has a prosperous population and prosperous commerce. Imperial silver coins are mainly circulated among merchants. And with imperial silver coins, those nobles and powerful people will no longer store copper coins in cellars. If there are better silver coins, who can And I want copper coins!
By then there will definitely be more copper coins on the market. More copper coins will naturally facilitate people's daily transactions.

After all, the people's lives will be much easier.

Casting silver coins can greatly improve the government's finances and continue to earn profits. It can also allow sufficient coins to circulate on the market, prosper the economy, and reduce the burden on the people. It is profitable no matter how you calculate it.

(End of this chapter)