Rebirth of Zhu Di's son
Chapter 111 Royal Bank of Ming Dynasty
Chapter 111 Royal Bank of Ming Dynasty ([-])
The gold banknotes issued by the imperial court last year were printed with the words "Printed by the Royal Bank of Ming Dynasty".
This "Royal Bank" was a new institution established by Zhu Di at the request of Zhu Yuanzhang to be responsible for the printing, issuance, recycling and other matters of gold banknotes. It was a subordinate yamen of the Ministry of Revenue and currently shared the same team with the Baoyuan Bureau. , there is no independent office.
Zhu Gaoxu knew that if he didn't explain clearly, Zhu Di would never understand why state-owned banks could ensure the basic living security of the people at the bottom.
After all, in Zhu Di's understanding at this time, the Baoyuan Bureau that manufactured the gold banknotes was the Royal Bank.
So Zhu Gaoxu immediately gave an explanation.
"In addition to being responsible for the issuance and recycling of gold banknotes, the bank's main businesses for the people of the world include deposits, loans, and exchange settlement."
"Among them, only two functions, borrowing and depositing, are enough to solve the borrowing problems of the vast majority of people at the bottom."
"In years of famine, when people at the bottom have no money to buy food, they can ask the local government to issue a poverty household certificate and then borrow money from the Royal Bank."
"The imperial court will set the interest rate for lending to poor households to be much lower than the interest rate for private loans. In this way, poor households will no longer go to rich peasants or powerful and landlords to borrow usury loans."
Zhu Di listened carefully. He felt that the borrowing method mentioned by Zhu Gaoxu was like exchanging the grain in the previous reserve warehouse for money.
There are differences in form between the two, but borrowing money can ensure that people have money to buy food in years of famine, which has the same effect as borrowing food. It can be said that they reach the same goal through different paths.
"As for the repayment period, it can be one year, three years, or even five years. The longer the time, the more interest. When the famine is over, you can pay back slowly when you have money."
When Zhu Di heard this, he couldn't help but nodded and said: "This method is wonderful!"
He thought that the Royal Bank only specialized in managing gold banknotes, but he did not expect that in Zhu Gaoxu's imagination, the Royal Bank would play such a huge role.
Zhu Di could imagine that if the interest rate on the money lent by the bank was as low as negligible, the people in the famine years would have one more chance to survive. In the future, they would definitely be grateful for the Royal Bank's grace of survival, and they would believe in and support the policies of the Ming Dynasty even more in the future. .
In fact, the banks of later generations came into being during the struggle of the wealthy merchant class against usury.
"Haier suggested that we first build a Royal Bank branch in each county in Yingtian Mansion."
"A year later, when the people of Yingtianfu have adapted to the Royal Bank, and the imperial court has basically gained relatively mature experience, it will be a matter of course to start building Royal Bank branches across the country."
Zhu Di remembered that at the beginning of the founding of the Ming Dynasty, there were about 1000 and 31 counties in the country. Later, after 400 years of conquests and internal affairs construction by the imperial court, by the first year of Yongle, there were more than [-] counties in the country. .
Zhu Gaoxu did not make wild claims and said that he would build more than 400 county-level branches of the Royal Bank within this year. Instead, he was very pragmatic and proposed to first build one branch in each county in Yingtianfu as a pilot project.
"There is a folk saying that 'if you want to get rich, build roads first'. Only with convenient transportation can the geographical scope of private commercial transactions expand." Zhu Gaoxu continued.
Zhu Di thought about it and said, "Be more careful."
Zhu Gaoxu explained: "For example, the villagers in County A are good at making items such as tables, chairs and benches, while the villagers in County B keep various types of poultry."
"When transportation is inconvenient, merchants buy seats and benches from County A and transport them to County B for sale. Each round trip may take half a month or even longer." "The price difference earned by merchants each time, excluding the transportation period, After all the expenses such as food and accommodation are consumed, there may not be much profit left.”
"Once the roads between counties are repaired, it will be more convenient for merchants to travel between counties A and B. Each round trip may only take ten days, or even several times a month."
Zhu Gaoxu did not continue talking about the transportation between counties A and B, because he knew that with Zhu Di's vision and wisdom, he naturally understood that the benefits and effects of convenient transportation between counties would be far more than that.
Because the poultry farmers in County B and the people in County A who make tables, chairs and benches, the sales of their products will increase as the number of purchases by merchants increases, and their income will naturally increase accordingly.
Not only that, the more convenient the roads, the more control the court has over the grassroots.
The imperial court sent people to provide disaster relief, collect household registrations, collect taxes, and counterinsurgency. Things that in the past required a lot of manpower, material resources, and time to complete due to transportation problems. In the future, the efficiency will be doubled or even several times increased due to convenient transportation.
"Therefore, while the Royal Bank branch is being built in Yingtianfu, the court needs to start large-scale infrastructure construction."
"For example, dredging waterways such as the Beijing-Hangzhou Grand Canal, digging artificial rivers and reservoirs, building canals, building bridges, building high schools in various counties, building regular academies in various prefectures, and building academic palaces in provincial offices. Among them, the most The important thing is to build roads.”
"Haier suggested that roads across the country should be graded, using width, thickness, quality and service life as comparison standards, to establish four levels of roads: rural roads, county roads, provincial roads, and national roads."
With convenient transportation, people will travel more conveniently, commerce will gradually develop, and the court will have stronger control over the local area.
After large-scale infrastructure construction is launched, it will only take two or three years to transform some farmers who make a living from farming into workers.
Over time, the working class will gradually rise, and the business class will also rise accordingly. At that time, the people at the bottom will continue to break away from the control of the landlords and grow into a new class.
Zhu Gaoxu said excitedly: "Wherever the Ming Dynasty's roads are built, that's the territory that the Ming Dynasty can control!"
Zhu Di felt excited when he heard this.
"When the construction of roads and bridges is carried out for two or three years, a large number of people will inevitably save a considerable amount of money because of the work."
Zhu Gaoxu continued.
"When these people have extra money, they can deposit it in the Royal Bank, sign a deposit contract with the bank, and hand over the money to the bank for safekeeping."
"Royal Bank will give different amounts of interest based on the length of the deposit period. If you want to withdraw before the withdrawal deadline, all interest will be deducted as liquidated damages, and only the principal will be retained."
"The purpose of this is to allow the people at the bottom to save money without having to worry about not being able to get back the interest or even the principal like private loans."
Zhu Di knew that in this way, using the deposit guarantee function of the Royal Bank could indirectly ensure that the remaining money in the hands of the people at the bottom would not be coaxed and taken away by local loan sharks.
Of course, there will always be some greedy people who feel that bank interest rates are lower than private loans and are unwilling to deposit money in banks. As a result, they are deceived and cannot even get back their principal and interest.
As the saying goes, if greed is not enough, the snake swallows the elephant, and such people deserve to be deceived.
(End of this chapter)
The gold banknotes issued by the imperial court last year were printed with the words "Printed by the Royal Bank of Ming Dynasty".
This "Royal Bank" was a new institution established by Zhu Di at the request of Zhu Yuanzhang to be responsible for the printing, issuance, recycling and other matters of gold banknotes. It was a subordinate yamen of the Ministry of Revenue and currently shared the same team with the Baoyuan Bureau. , there is no independent office.
Zhu Gaoxu knew that if he didn't explain clearly, Zhu Di would never understand why state-owned banks could ensure the basic living security of the people at the bottom.
After all, in Zhu Di's understanding at this time, the Baoyuan Bureau that manufactured the gold banknotes was the Royal Bank.
So Zhu Gaoxu immediately gave an explanation.
"In addition to being responsible for the issuance and recycling of gold banknotes, the bank's main businesses for the people of the world include deposits, loans, and exchange settlement."
"Among them, only two functions, borrowing and depositing, are enough to solve the borrowing problems of the vast majority of people at the bottom."
"In years of famine, when people at the bottom have no money to buy food, they can ask the local government to issue a poverty household certificate and then borrow money from the Royal Bank."
"The imperial court will set the interest rate for lending to poor households to be much lower than the interest rate for private loans. In this way, poor households will no longer go to rich peasants or powerful and landlords to borrow usury loans."
Zhu Di listened carefully. He felt that the borrowing method mentioned by Zhu Gaoxu was like exchanging the grain in the previous reserve warehouse for money.
There are differences in form between the two, but borrowing money can ensure that people have money to buy food in years of famine, which has the same effect as borrowing food. It can be said that they reach the same goal through different paths.
"As for the repayment period, it can be one year, three years, or even five years. The longer the time, the more interest. When the famine is over, you can pay back slowly when you have money."
When Zhu Di heard this, he couldn't help but nodded and said: "This method is wonderful!"
He thought that the Royal Bank only specialized in managing gold banknotes, but he did not expect that in Zhu Gaoxu's imagination, the Royal Bank would play such a huge role.
Zhu Di could imagine that if the interest rate on the money lent by the bank was as low as negligible, the people in the famine years would have one more chance to survive. In the future, they would definitely be grateful for the Royal Bank's grace of survival, and they would believe in and support the policies of the Ming Dynasty even more in the future. .
In fact, the banks of later generations came into being during the struggle of the wealthy merchant class against usury.
"Haier suggested that we first build a Royal Bank branch in each county in Yingtian Mansion."
"A year later, when the people of Yingtianfu have adapted to the Royal Bank, and the imperial court has basically gained relatively mature experience, it will be a matter of course to start building Royal Bank branches across the country."
Zhu Di remembered that at the beginning of the founding of the Ming Dynasty, there were about 1000 and 31 counties in the country. Later, after 400 years of conquests and internal affairs construction by the imperial court, by the first year of Yongle, there were more than [-] counties in the country. .
Zhu Gaoxu did not make wild claims and said that he would build more than 400 county-level branches of the Royal Bank within this year. Instead, he was very pragmatic and proposed to first build one branch in each county in Yingtianfu as a pilot project.
"There is a folk saying that 'if you want to get rich, build roads first'. Only with convenient transportation can the geographical scope of private commercial transactions expand." Zhu Gaoxu continued.
Zhu Di thought about it and said, "Be more careful."
Zhu Gaoxu explained: "For example, the villagers in County A are good at making items such as tables, chairs and benches, while the villagers in County B keep various types of poultry."
"When transportation is inconvenient, merchants buy seats and benches from County A and transport them to County B for sale. Each round trip may take half a month or even longer." "The price difference earned by merchants each time, excluding the transportation period, After all the expenses such as food and accommodation are consumed, there may not be much profit left.”
"Once the roads between counties are repaired, it will be more convenient for merchants to travel between counties A and B. Each round trip may only take ten days, or even several times a month."
Zhu Gaoxu did not continue talking about the transportation between counties A and B, because he knew that with Zhu Di's vision and wisdom, he naturally understood that the benefits and effects of convenient transportation between counties would be far more than that.
Because the poultry farmers in County B and the people in County A who make tables, chairs and benches, the sales of their products will increase as the number of purchases by merchants increases, and their income will naturally increase accordingly.
Not only that, the more convenient the roads, the more control the court has over the grassroots.
The imperial court sent people to provide disaster relief, collect household registrations, collect taxes, and counterinsurgency. Things that in the past required a lot of manpower, material resources, and time to complete due to transportation problems. In the future, the efficiency will be doubled or even several times increased due to convenient transportation.
"Therefore, while the Royal Bank branch is being built in Yingtianfu, the court needs to start large-scale infrastructure construction."
"For example, dredging waterways such as the Beijing-Hangzhou Grand Canal, digging artificial rivers and reservoirs, building canals, building bridges, building high schools in various counties, building regular academies in various prefectures, and building academic palaces in provincial offices. Among them, the most The important thing is to build roads.”
"Haier suggested that roads across the country should be graded, using width, thickness, quality and service life as comparison standards, to establish four levels of roads: rural roads, county roads, provincial roads, and national roads."
With convenient transportation, people will travel more conveniently, commerce will gradually develop, and the court will have stronger control over the local area.
After large-scale infrastructure construction is launched, it will only take two or three years to transform some farmers who make a living from farming into workers.
Over time, the working class will gradually rise, and the business class will also rise accordingly. At that time, the people at the bottom will continue to break away from the control of the landlords and grow into a new class.
Zhu Gaoxu said excitedly: "Wherever the Ming Dynasty's roads are built, that's the territory that the Ming Dynasty can control!"
Zhu Di felt excited when he heard this.
"When the construction of roads and bridges is carried out for two or three years, a large number of people will inevitably save a considerable amount of money because of the work."
Zhu Gaoxu continued.
"When these people have extra money, they can deposit it in the Royal Bank, sign a deposit contract with the bank, and hand over the money to the bank for safekeeping."
"Royal Bank will give different amounts of interest based on the length of the deposit period. If you want to withdraw before the withdrawal deadline, all interest will be deducted as liquidated damages, and only the principal will be retained."
"The purpose of this is to allow the people at the bottom to save money without having to worry about not being able to get back the interest or even the principal like private loans."
Zhu Di knew that in this way, using the deposit guarantee function of the Royal Bank could indirectly ensure that the remaining money in the hands of the people at the bottom would not be coaxed and taken away by local loan sharks.
Of course, there will always be some greedy people who feel that bank interest rates are lower than private loans and are unwilling to deposit money in banks. As a result, they are deceived and cannot even get back their principal and interest.
As the saying goes, if greed is not enough, the snake swallows the elephant, and such people deserve to be deceived.
(End of this chapter)
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