If I fail to overcome the tribulation, I can only return to the Ming Dynasty and become a prince.

Chapter 25 Problems with Precious Banknotes

Early the next morning, Zhu Zhanjun still pulled his fat dad to box together. After breakfast, he came to the Qinhuai River again.

The painted boat they used to sit on every day has been bought by Zhu Zhanjun, and everyone who should know in Jinling City now knows that this boat belongs to the East Palace.

So Xia Yuanji, who made an appointment with Zhu Zhanjun yesterday, was still waiting here even if he didn't ask for the location, eagerly waiting for Zhu Zhanjun, wanting to know what method he said to save Qianfa.

Therefore, as soon as he saw Zhu Zhanjun and Zhu Gaochi appear, the Minister of the Ministry of Finance, who was not very close to anyone on weekdays, hurried over to greet them. His eager look surprised those who knew him well.

"The Crown Prince and the Second Emperor's grandson are here!" Although Xia Yuanji never looked flattering, Zhu Gaochi felt flattered by his warm attitude.

So he quickly held Xia Yuanji's arm that was about to salute and said to him: "Weizhe is too polite. It's just a child who is ignorant. Regarding the money making method, I should have asked the child to write down the method and send it to you. How could I Let Weizhe wait here in person!"

"It doesn't matter, it doesn't matter. If we can really solve the banknote problem for the court, let alone let me wait here, I will be happy even if I have to pay three visits to the thatched cottage and Cheng Menlixue!" Xia Yuanji and Zhu Gaochi were polite, but their eyes always remained. Looking at Zhu Zhanjun, he was obviously looking forward to the solution he mentioned.

When Zhu Zhanjun saw this, he didn't care about him. He just raised his hands towards Xia Yuanji and said: "In that case, Xia Shangshu, let's get on the boat first. Let's sit down and chat. I still have some good tea here. I believe Xia Yuanji The Minister must like it."

With that said, Zhu Zhanjun and his fat father pulled Xia Yuanji onto the boat. After the three of them sat down, they ordered the boatman to start the boat.

After sitting down, Zhu Zhanjun took out the teapot and cups to pour tea for the three of them, and asked Xia Yuanji, who could not wait any longer: "Can Shangshu Xia tell the truth, how many treasure coins have been issued by the imperial court? Is there any?" ten times?"

Faced with this question, Xia Yuanji felt very embarrassed, but he still said bravely: "Your Highness is exaggerating. Tobe just overpaid three times."

"Three times?" Zhu Zhanjun looked at Xia Yuanji with teasing eyes and said nothing.

Seeing Zhu Zhanjun looking at him like this, and with a well-informed person like Prince Zhu Gaochi beside him, Xia Yuanji's face turned red, and then he said truthfully: "It's thirteen times."

"As expected, the serious over-issuance has brought about inflation, and the depreciation of treasure banknotes has been serious. It is not as good as waste paper." Zhu Zhanjun placed a cup of tea in front of Xia Yuanji, and then continued: "In addition, the imperial court itself does not recognize Bao banknotes, the people do not regard them as money, so the Ministry of Household Affairs can only continue to issue new Bao banknotes. In a vicious circle, Bao banknotes will only continue to depreciate, and new banknotes will become less and less valuable. I don’t know what I mean. Is that right?"

"Yes, so does His Highness the Second Emperor have a solution?" Xia Yuanji was impatient and wanted to know how to solve the biggest financial shortcoming of the Ming Dynasty.

Zhu Zhanjun did not show off, and while gesturing to Xia Yuanji to drink tea, he explained to him: "The imperial court prohibited the private trade of gold, silver, and copper, and only recognized treasure banknotes as currency. The original intention was to solve the shortage of copper and silver since the Song and Yuan Dynasties. question.

During the Mongolian Yuan period, the banknote law was created. The Zhongtong banknotes issued by it were based on silver, and the legal parity banknotes were the same as one tael of silver. The Zhongtong banknotes issued by the Mongolian Yuan were always in circulation across the country regardless of year or location. At the same time, , implemented a pure paper currency system and prohibited the circulation of gold, silver and copper coins.Private banknotes are used to pay taxes, and it is stipulated that all payments and all kinds of taxes must be paid in banknotes. This is the biggest difference between its banknote method and our Ming Dynasty banknote method, and it is also one of the sources of the depreciation of our banknotes. "

"The imperial court issues treasure banknotes that only go out but not go in. The people do not regard the treasure banknotes as money. This minister knows it. However, the government's finances are tight and it is really unable to recycle the treasure banknotes." With Xia Yuanji's financial attainments, how could he not know that only the treasure banknotes are worth money? The disadvantage of not being able to get out, but the problems in the fiscal and taxation system of the Ming Dynasty left him with no good solution.

Regarding what Xia Yuanji said, Zhu Zhanyu nodded in affirmation.

This is actually easy to understand, because the Ming Dynasty levied a tax in kind, and the court collected real objects such as grain and silk. Although paper money was indeed the legal currency of the court, you had no way to take it. To pay taxes, even the people of the Ming Dynasty did not need to use this to pay taxes.

Before Zhang Juzheng reformed and implemented the one-whip method, ordinary people in the Ming Dynasty did not even need to use silver. Treasure notes in their hands were used as copper coins of a few or more than ten coins, which was not a big problem.

It's just that this is the country's legal currency after all, especially if it continues to depreciate, over-issue and issue new banknotes. In a vicious cycle, this will seriously affect the Ming Dynasty's national economy.

Not to mention anything else, the entire Ming Dynasty absorbed hundreds of millions of taels of silver from all over the world for more than 200 years, but the money shortage among the people has never been solved. A large amount of silver was either stored in hoards or made into silver winter melons, and was not circulated to the market at all. On the contrary, it exacerbated the money shortage.

Therefore, it is imperative to solve the problem of treasure notes and stabilize the current Ming Dynasty economy.

"To solve the problem of depreciation of treasure banknotes, it is actually not difficult to say. The first step is to set up a leveling treasury like the Yuan Dynasty, exchange gold and silver, and recycle faint banknotes, so that the treasure banknotes can be exchanged for silver from the court, and the people can recover. Confidence in treasure banknotes can stabilize the value of treasure banknotes." Zhu Zhanquan said to Xia Yuanji, but he also knew that this was not the key to the Ming Dynasty: "But considering the current situation of our Ming Dynasty, this is fair The treasury cannot copy the Mongolian yuan like this, because we don’t have that much silver, and we can’t exchange it nationwide like the Mongolian yuan, so we have to take another approach.”

Xia Yuanji took a sip of tea and felt the fragrance on his lips and teeth. At the same time, he was excited by what Zhu Zhanchun said.

Although he understood what Zhu Zhanqun said, the key was a feasible method, rather than simply telling him to set up a leveling warehouse, so he hurriedly asked Zhu Zhanqun, "What's the plan?"

"Collect grain." Zhu Zhanquan laughed and threw out a trick that no one had ever thought of in this era.

"The imperial court has granaries all over the country. They were originally used by the imperial court to collect land tax and grain taxes. We can change it and turn it into a place to collect grain. After the autumn harvest, the people can send the grain to the granary for sale and exchange it for treasure money. Pay taxes, so that the court has a channel to issue banknotes and recycle treasure banknotes, and food replaces gold and silver and stabilizes the value of treasure banknotes." Zhu Zhanjun said his plan.

However, this plan did not receive praise from Xia Yuanji and Zhu Gaochi. Instead, they both frowned and said, "It's inappropriate."

(End of this chapter)